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In this video we look at whether it is time to cancel the Chase Sapphire Reserve or not. I go through all the value I have got out of the card over the past year and weigh up whether it is worth the annual fee to keep for another year.
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28 comments
great video but it would be good if you figured in some opportunity costs as well
Great video!
shoudlnt you only count the value youre getting from the extra 1x earned on travel/dining, extra 25% redemption rate, and travel credit
We downgraded to a free freedom flex. Chase hasn’t kept up with Amex
Don't forget, $75 for Mrs. Shifu.
I’m assuming that the chase sapphire is only available if you have the CSP or CSR. What are the benefits of this card? Thank you!!
Don’t cancel the best personal credit card that exists. Cancel income taxes legally instead.
https://youtu.be/WMYTRI0a-0M
I am gong to need to do this math for my sapphire preferred. I just got the amex gold and it has double the points on categories that the preffered. I was thinking of getting the reserve for travel. But which would be better the reverse or the platinum?
Charles Schwab sounds so aristocratic. 😄
Charles Schwab sounds so aristocratic. 😄
How do you cancel, and not make it look like you only got the card for the signed up bonus?
I got Chase FU so grocery is 5x for next 10 months so CSR should help.
The purpose of this exercise is to evaluate whether the CSR is still a worthwhile keeper card going forward. Not how much value you personally got out of cashing out your points, because some people will have lots of points and some will have none. The evaluation is based on future value, not the value you got the previous year. The easiest way to evaluate this is $450 (or $550 annual fee)-$300 travel credit (with some possible breakage)- whatever value you put on the doordash credits (it's often more expensive to order and top by these app based food delivery companies). For example: $450 renewal fee-$300 credits- $45 Personal doordash value= $105 effective annual fee. At this point, you evaluate whether keeping the CSR for $105 is worth 3X multipliers (compared to 2x-3x non-UR multipliers on no annual fee cards), the lounge access during a pandemic, and whatever else you value.
I don't think this is a keeper card for the next year unless changes are made. I've burned off my UR's using the Pay yourself back feature and transferred some to United.
There’s a card bellow the sapphire preferred? I couldnt find it on the internet
But here's the catch. You saved the money on travel, especially the BA tickets, because you had the points already, accumulated from a lot of spending, and not all was this year.
It's the portal that saved you money. Even if you canceled the CSR, you'd be able to use the portal because you still have a relationship with Chase via other cards.
For a more accurate comparison, please calculate the spending on the CSR alone and then tell us whether it's worth it.
Just downgraded the reserve to the preferred right before the annual fee. and now Amex sent me the 100k offer for the platinum ugh haha
Easy keep for me. I’d have gotten at least 60 of DoorDash in a year anyways, and it also provides DashPass, which gives further discounts. Moreover, the Lyft credit has been massive this past year for me, which has easily canceled out the added fee, all by itself. For my spending needs, the update has been a strict improvement (renewed last month, so also still payed 450).
Should I cancel an unused Chase Freedom (not Flex or Unlimited) card to free up a 5/24 slot for a new card in the future?
You take kids into the centurion lounge 😩
What is the best credit card to get right now? I am 19 year old and have the discover student card but I want a second one and idk which one maybe the chase freedom one?
Credit Shifu, you should use DoorDash for their pickup option when you visit the city. You can pick up food, use your credit. An idea if you eat lunch somewhere when visiting New York City.
I have a question I just got approved for my first capital one credit card and I also God self I am building up my credit so I can get my first Chase credit card but I was just wondering is self a part of the 5-24 for Chase because I want to get to chase trifecta please let me know these are the only two accounts I have I just turned 18
If you're not gonna use the DoorDash credit, fancy buying me dinner? 🤣🤣🤣
How can I transfer that balance to another card if I cancel?
I got CSR in Feburary 2020 and unfortunately didn't really get to use CSR's full Benefits due to COVID-19.
So even tho the AF is $550 for me, I'll still keep it for 2021.
I used DoorDash every single day, so 450-300-60= 90. Yeah I’ll just keep it for now 🤷♂️
Can I use chase sapphire to transfer to Marriott and then transfer from Marriott to any airline partnered with Marriott bonvoy program?
Hey, Schifu. I’m trying to figure out if the ultimate rewards points is better than the AMEX Schwab 1.10 cash back