re: Credit Card Rewards and Points Discussion

I mean if it's worth taking a hit to your credit score.

Right. I didn't realize that was for a checking account. Thought it was a CC

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Don't forget Chase's 2/30 rule.

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Ok so the 3 at a time would be a no go.. Thanks for the response. I am currently at 1/30 so I should be good to go for an Ink card now..

I was thinking going for the Ink Business preferred for the 80k UR then PC down to Ink Cash later, never paying an annual fee... but I suppose going with and keeping the old Ink Plus still beats that combination in the long run..

Even better

I'm about to apply for the CSP. I was going to apply for CSR but I don't think my first CC should have a $450 AF (assuming I could get approved).

I'm not exactly a baller nor am I a road warrior. So... CSP a good decision?

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I'm not exactly a baller nor am I a road warrior. So... CSP a good decision?

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Think about it this way - The CSR comes with a $300 travel credit each calender year. Meaning you get $300 this year, and another $300 in Jan 2018. The AF is charged per card member year. So you could make use of the $300 credit twice and only pay $450 AF this year, and downgrade or cancel before it hits again. Just like that - you are $150 in the black. Then you also consider $100 credit for Global Entry, 100K bonus (so a 50K increment over CSP), lounge access and the ability to redeem points @ 1.5c per point for travel makes this card a no-brainer for year 1.

I'm saving the above reply so when tomorrow someone else asks the same question I can copy and paste it

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AmeriKop45

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Damnit! Haha I was hoping somebody would talk me out of getting the CSR! I guess I have until tomorrow to get the 100,000 point opportunity.

If you're looking to build credit, maybe opt for a cash-back card with no annual fee. With annual fee cards, u have to think about the long term risk/reward. If you cancel you first credit card within a couple of years, your credit score might take a hit.

The majority of people (imo) will get the most back with a combination of cash back cards. There are so many options now that you can pretty much get at least 3% back on every category. But you have to build your credit first.

The CSP on its own is pretty useless imo. You only get 2 points on travel/restaurants and 1 point on everything else. The AMEX everyday gets up to 2.4 points on groceries and 1.2 on everything else and has no AF. Amex points can also be transferred to airlines.

In order to justify the fee for the CSP, it needs to be paired with the freedom cards imo. Then you could combine all your chase points and transfer them to airlines. But if you're not at a point where you can travel much, then you can always opt for one of the freedom cards to start accumulating points. These could always be transferred to a sapphire card in the future.

Compare $450 to $0 since CSP comes with free first year. In the 2nd year you could downgrade both cards to a no AF card. The poster above mentions don't make it your first account so you can cancel it. Again, if you change it to a different product, it continues to be the same account as far as your credit is concerned.

If you spend at least $300 a year on travel (including Uber, AirBnB, tolls, cabs etc), and have $450 liquid, there are literally 0 reasons to not get this card. And I say this to people even when I can refer them to the CSP and earn 10K points myself.

Ofcourse, if travel credit and travel rewards have little to no value to you, you will be better off with something else later on. But year 1 - its all about the CSR.

Are you saying you can downgrade to a no fee card from the CSR without "closing" a line of credit? Is this accurate?

So you can get the CSR, cash out after year 1 and downgrade to the freedom without any impact on your credit score?