re: Credit Card Rewards and Points Discussion

I think you may need to make a decision here. Do you want to accrue rewards points from credit card spend? or do you want to avoid annual fees?

The perks of accruing rewards points tend to outweigh the annual fee, in my opinion. But everyone has to make that determination for themselves.

Because what I'm understanding from what you're typing is that you want to downgrade the Preferred, or get rid of it, to keep from paying the $95 annual fee. But if you downgrade it, you won't accrue rewards points. So downgrading it won't meet your objective if you want to accrue rewards points.

Or am I misunderstanding your question?

Oh, a lot of this depends on which Ink Business card you have. Cash, Unlimited or Preferred? If it's preferred, then you can downgrade your Chase Sapphire Preferred to Chase Freedom Unlimited, and as long as it's tied to your account with the Ink Business Preferred, you can convert your 'cashback' into UR points.

If it's a cash back Ink Business, I don't think you can use a downgraded Preferred to accrue points. And since you have the Sapphire Preferred, if you were to downgrade it to say, the Freedom Unlimited, you would have to wait 24 months before being eligible to receive the 50,000-point sign-up bonus for the Sapphire Reserve. If you don't have the Ink Bus Preferred and you want to accrue Chase UR points more quickly, open the Chase Freedom Unlimited and get 3x points on the first $20,000 you spend, and then 1.5x points thereafter in perpetuity (as long as it's linked to your Sapphire Preferred or Ink Business Preferred, should you have that one).

You can play the game you're talking about with the Citi ThankYou Premier. You could sign up and get the 60,000-point sign-up bonus. The $95 annual fee is waived the first year. So you could sign up for it, get your points, transfer them to an airline, and then close it out prior to the annual fee.

ETA - If you close your Preferred, it might negatively affect your credit. A downgrade would be better, and again, if your Ink Business is a preferred, then downgrading your Sapphire Preferred to Freedom Unlimited would be a good play.

Get the American Express Hilton Card. I think it has a 130k sign up bonus right now. For delta you can try to find one of their cards that has the highest sign up bonus

I just paid the annual fee for my CSP in July, and now I want to apply for the new Ink Business Preferred Card. It’s the same annual fee, so will Chase move the annual fee from one card to the other, or am I out the $95 for my CSP?

25 year old engineer. I currently have a CSP that I've had for about a year now. Took advantage of the signup bonus and now use the the card to the tune of about 2300 per month. Should i be looking at using other cards as well? bill is paid monthly and i have good credit. I don't travel for work. Looking for perks/reasons to use a card. Any advice?

Thanks,

I applied for the Ink Preferred yesterday, and i’m Waiting on approval. It will take the place of my CSP, and i’ll still put gas/dining out on my Ink Business for the 2% cash back.

When I get my Ink Preferred, i’ll cancel CSP and they said I could request a refund if the Annual Fee that I just paid in July.

It just says ‘we got your application and we’ll let you know as soon as possible’ I’ll probably call about it tomorrow, since it was just yesterday that I applied

quote:

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Chase Ink Preferred 80k points 5k spend
Chase Ink Unlimited 50k points after 3k spend
Chase Ink Cash 50k points after 3k spend

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The last 2 you mentioned only show rewards in cash not in points as far as I can see.

Is there a way you are converting their $500 cash back reward to 50k points?

I have preferred and ink preferred.

So if I link one of those cards to the same account as my others it should give me the option to collect in cash back or points after reaching the 3k within 3 months threshold?

Also, would I use the same "business" as previously used for the ink preferred or make up a new one for the other 2 business cards