Planning to downgrade my chase sapphire reserve to no fee card. Not sure of $550 annual fee is worth in no-travel time. I don’t use doordash or lyft. Let me pause there and see if you have any thoughts... ?

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They just announced a $120 credit for Peloton, plus the $300 in travel I’ll likely still spend, plus doordash credits... it’ll work out ok for me.

I’m slowly taking my balance down with pay yourself back at 50% bonus. Was at 1M, now down to 600k. Haven’t paid for food since April 😂

likesmart

Yeah sorry lol. These are points NOT dollars.

I’ve reimbursed 400k of POINTS for a $6k in statement credits via pay yourself back

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I’d say use pay yourself back to empty out the points, cancel the card. Switch to another card/trifecta until the pandemic is over and reapply, get that sweet bonus (assuming your credit can take the hit)

Amex Gold is an amazing card to get right now. They just tacked on an extra $120 Uber/Uber eats credit since they’re cancelling the $100 airline incidental credit in 2022. This means in 2021 you’re getting $340 worth of credits ($120 Uber + $100 airline + $120 dining credit) with the card which is already more than the $250 fee. Coupled with the $100 credit from the Corporate Advantage Program (if you have the Amex Corp green card) and the 4x dining/groceries AND the current welcome offer that’s almost doubled the standard, there’s no reason not to get it if you don’t already have a dedicated dining card.

PM me if you want a referral link or have any questions

smart

@M1 it’s a program with AMEX where you can get annual statement credits for the fee-based personal cards if you have a corporate card. It actually provides a pretty big incentive for the plat and gold.

Check qualification here

https://www.americanexpress.com/us/credit-cards/gcpadvantage/login/

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“Let me Pause there and see if you have any thoughts...” 🙄

likefunny

Partner material.

Pay yourself back gives you the same redemption value as traveling- you can make your grocery bill $0 until you’re ready to travel again.

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Bain1 - thanks for explaining. It seems like transferring points could be more advantageous but it depends on the current reward and redemption values from various airlines so takes a lot more research and planning to 'optimize' your bang for buck for a big international travel itinerary . That hassle might not be worth the extra time and effort when you can get a pretty solid conversion to cash with 1.5x right now

Maybe take it down to the preferred instead?

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I downgraded. Figured I can upgrade again once this is over.

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Hmm been thinking about it. My thoughts as someone living In nyc are:

1. I’ll still get the $300 travel credit through Uber’s trains etc

2. I do use DoorDash quite a bit

3. Even If I’m not flying now, I’m still collecting more points with this card than a downgraded card...I can use those points eventually

I’m thinking the same, but just downgrading to the Preferred. I’m obviously not spending much on travel right now. So the biggest thing for me is my chase ultimate points in the chase portal will now only be worth 1.25x instead of 1.5x. Downgrading to the freedom or another no fee car will have a 1.0x redemption rate. But I suppose I can upgrade to the reserve again in the future

Accenture 1, yup CSR was alllowing 1.5x cash back redemption to rebate your grocery spend(?). But they’ve been expanding it that too. I just started this year and was able to convert all my pts to straight cash at 1.5x. Thanks chase

You can still use it to redeem points for cash back at 1.5x (a perk that used to only be applicable towards travel). Every couple of months I apply it towards my current statement balance and basically pay nothing that month.

DoorDash/Uber Eats a lot. Still get 3pts per dollar

$300 credit towards uber works with uber eats

It’s not AS good, but still worth keeping IMO. YMMV

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