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Started By
Message
What to do about the wife's Chase Sapphire Reserve Card
Posted on 8/14/24 at 10:02 am
Posted on 8/14/24 at 10:02 am
My wife and I both got Sapphire Reserve cards years ago when they offered 100K points to sign up. We have both had them since then. However, other than travel expenses, which only cover $300 of the $550, we really aren't getting the benefit out of her card anymore, and it's coming due for renewal in September.
I haven't cancelled/downgraded a card in a long time. Do I just cancel it? Its the only Chase card in her name only. I have a Sapphire Reserve, and we both have a Freedom card, so most of our purchases go on those two.
Can i downgrade her to something else and get sign up bonus? Would I need to cancel entirely and sign her up for another to get any bonus?
Any suggestions would be appreciated.
Edit to add. We don't travel a lot now, but probably will in a couple of years when I retire if that matters.
I haven't cancelled/downgraded a card in a long time. Do I just cancel it? Its the only Chase card in her name only. I have a Sapphire Reserve, and we both have a Freedom card, so most of our purchases go on those two.
Can i downgrade her to something else and get sign up bonus? Would I need to cancel entirely and sign her up for another to get any bonus?
Any suggestions would be appreciated.
Edit to add. We don't travel a lot now, but probably will in a couple of years when I retire if that matters.
This post was edited on 8/14/24 at 10:04 am
8
Posted on 8/14/24 at 10:39 am to kywildcatfanone
If you fly at least once a year and rent a car a couple times. To me, it's worth the price tag to keep it.
I daily drive it, and yeah, I don't max it out. But I think it's a fair deal for what you get
I daily drive it, and yeah, I don't max it out. But I think it's a fair deal for what you get
Posted on 8/14/24 at 10:53 am to kywildcatfanone
Shouldn’t you transfer all points to you, cancel it, and just add her as an authorized user on yours?
Eta: I think you have to cancel and wait a period of time to sign back up to get the bonus. Check out the Sapphire subreddit. They got all the info over there.
Eta: I think you have to cancel and wait a period of time to sign back up to get the bonus. Check out the Sapphire subreddit. They got all the info over there.
This post was edited on 8/14/24 at 10:56 am
Posted on 8/14/24 at 10:57 am to kywildcatfanone
quote:
Can i downgrade her to something else and get sign up bonus? Would I need to cancel entirely and sign her up for another to get any bonus?
No, you can't downgrade and get a bonus.
You also wouldn't be eligible for the Sapphire Preferred,sign-up as a stand alone. They changed it a couple years ago to only one bonus per 4 or 5yrs on either of those two cards.
I downgraded my Reserve to a Preferred years ago. Yeah, only get 25% bonus on travel points, but had some other small benefits.
Posted on 8/14/24 at 11:17 am to swamptiger99
quote:
If you fly at least once a year and rent a car a couple times. To me, it's worth the price tag to keep it.
When you say fly and rent a car, are you talking about the $300 travel credit or something more than that?
Posted on 8/14/24 at 11:20 am to kywildcatfanone
It has great insurance coverage for rental cars as well. Combine that with priority pass and it's staying in my wallet.
Posted on 8/14/24 at 12:13 pm to kywildcatfanone
Downgrade it to a free card with other rewards (chase unlimited maybe?).
If 4 years has passed you can reapply for another sapphire card and get another 100k bonus after downgrading.
If 4 years has passed you can reapply for another sapphire card and get another 100k bonus after downgrading.
Posted on 8/14/24 at 12:47 pm to kywildcatfanone
I keep a Freedom (can't apply anymore but you can downgrade to this card) and a Freedom Flex. When I need the benefits of the Sapphire Reserve I product change one of my Freedom cards. When you product change you can use the $300 travel credit immediately but your annual fee isn't charged for another few months. You can easily double dip that credit and even with the $550 annual fee you're still up $50 at a minimum. If you aren't getting your money's worth out of the card wait until your $300 credit resets and use it then product change to a Freedom (you can apply for the Freedom Flex later if you want). You have 30 days from the time the annual fee hits to get a full refund.
Posted on 8/14/24 at 1:02 pm to kywildcatfanone
I keep it, pays for itself
Posted on 8/14/24 at 5:56 pm to DaBeerz
One thing I really haven't checked on fully is if you pay for like a cruise with the reserve card, is the insurance it provides adequate compared to paying $150 for a travel policy from Allianz?
I probably need to look deeper into the benefits and how I can use them on both our cards. I always use the $300 travel credit and the precheck, but really aren't using it much more than that. I suspect I am missing out on some benefit uses.
I probably need to look deeper into the benefits and how I can use them on both our cards. I always use the $300 travel credit and the precheck, but really aren't using it much more than that. I suspect I am missing out on some benefit uses.
Posted on 8/14/24 at 9:41 pm to kywildcatfanone
Dealing with similar issues. Wife has preferred…do I need to move her ultimate points before downgrading to a Freedom?
Posted on 8/14/24 at 10:40 pm to lynxcat
quote:
Dealing with similar issues. Wife has preferred…do I need to move her ultimate points before downgrading to a Freedom
No.
If you're paranoid, just transfer the points from her Sapphire to another Chase card she has or yours.
There's almost no reason to have two Sapphire Reserves in a family. Its pretty overrated at this point as a card. I never hold it for more than a year and grab the bonus every four years. Freedom Unlimited gives you 3x dining, same as Reserve. The cheaper Preferred gives you 2x travel vs 3x for Reserve. You'd have to spend a ridiculous amount on travel at 3x to counter the $200 extra fee.
Other cards from other banks have better return anyway.
Lastly, and this is a more unique situation, I have an old Ink Bold that I held onto. 5x for cable and TV (yes streaming), 2x gas and has 2x hotels if I need it, for $95 a year and allows me to transfer out to partners. Reserve is meh, they need to freshen it up.
This post was edited on 8/14/24 at 10:44 pm
Posted on 8/15/24 at 8:58 am to Teddy Ruxpin
quote:
Other cards from other banks have better return anyway.
So, would you have a recommendation for me? If I get rid of her reserve, we already have the freedom unlimited, so something else in the Chase family, or elsewhere?
And if we cancel hers, does it take a while before she can apply for another chase card and get the bonus?
Posted on 8/15/24 at 9:01 am to kywildcatfanone
If you're interested in UR at minimum you should have Freedom Unlimited and Freedom Flex for 5x categories.
Just apply for the card you want before you cancel. Then transfer her points to the new card, then cancel Reserve. You get some time to transfer out after cancelation anyway prior to your points being wiped if you don't.
In my personal life, I'm less likely to recommend these type of cards because the learning curve is steep. They work for me but don't work for probably the vast amount of people.
But personally I've done well with Amex Platinum and Gold, especially Gold. The Gold got a fee increase which isn't ideal but I can counter it easily with the new Resy credit at a restaurant I go to anyway. Always wait for a historical high signups bonus which are still pretty frequent.
It really depends how heavy you hit SUBs, how much organic spend you have etc., before you start diversifying points. Amex, Capital One, Citi etc.
And of course you could always target a specific airline like American (I used AA points for Japan business class).
quote:
And if we cancel hers, does it take a while before she can apply for another chase card and get the bonus?
Just apply for the card you want before you cancel. Then transfer her points to the new card, then cancel Reserve. You get some time to transfer out after cancelation anyway prior to your points being wiped if you don't.
quote:
So, would you have a recommendation for me?
In my personal life, I'm less likely to recommend these type of cards because the learning curve is steep. They work for me but don't work for probably the vast amount of people.
But personally I've done well with Amex Platinum and Gold, especially Gold. The Gold got a fee increase which isn't ideal but I can counter it easily with the new Resy credit at a restaurant I go to anyway. Always wait for a historical high signups bonus which are still pretty frequent.
It really depends how heavy you hit SUBs, how much organic spend you have etc., before you start diversifying points. Amex, Capital One, Citi etc.
And of course you could always target a specific airline like American (I used AA points for Japan business class).
This post was edited on 8/15/24 at 9:11 am
Posted on 8/15/24 at 9:15 am to Teddy Ruxpin
Thanks,
I have the Delta AMEX platinum, and can use the companion ticket to help offset it's fee, and the baggage.
We have a Kroger Mastercard we use at Kroger, so those and the two chase cards cover our expenses mostly. Will look into the Flex though.
I have the Delta AMEX platinum, and can use the companion ticket to help offset it's fee, and the baggage.
We have a Kroger Mastercard we use at Kroger, so those and the two chase cards cover our expenses mostly. Will look into the Flex though.
Posted on 8/15/24 at 9:39 am to kywildcatfanone
quote:
I have the Delta AMEX platinum, and can use the companion ticket to help offset it's fee, and the baggage.
To be clear, I was referring to Amex Platinum and Gold, not Delta's cards. I don't really see the value in Skymiles.
Amex Gold is 4x groceries which is why I like it. Rotate in Freedom when 5x category comes up. Pro tip, the 5x is up to $1,500 in that quarter. If you and your wife have one, that's $3,000 total to spend in 3 months to maximize. Perhaps you spend that, perhaps you don't. But if you are close, buy a Kroger gift card during the bonus quarter and spend it down later.
Posted on 8/15/24 at 1:07 pm to kywildcatfanone
I would product change to an OG Freedom or CSP. I believe you can get a Sapphire bonus every 4 years. How long has it been since you originally got the bonus?
I would not outright cancel if you can help it. It's not the worst thing to cancel, but when you decrease the amount of credit you have, it will change your debt to credit ratio. You want this to be below 20%. If you have alot of available credit and not alot of debt, this may not hurt your credit much at all. Its safer to downgrade to a no annual fee card than straight up cancel.
I would not outright cancel if you can help it. It's not the worst thing to cancel, but when you decrease the amount of credit you have, it will change your debt to credit ratio. You want this to be below 20%. If you have alot of available credit and not alot of debt, this may not hurt your credit much at all. Its safer to downgrade to a no annual fee card than straight up cancel.
Posted on 8/15/24 at 1:14 pm to Teddy Ruxpin
quote:The 50% points bonus on travel booked through the portal is pretty nice.
There's almost no reason to have two Sapphire Reserves in a family. Its pretty overrated at this point as a card.
Posted on 8/15/24 at 1:18 pm to TigerBlood17
quote:
The 50% points bonus on travel booked through the portal is pretty nice.
Not for me. I use Chase UR almost exclusively at Hyatt hotels as it is. Chase Reserve points are worth 1.5 cents on the portal. I don't redeem my UR for less than 2 cents per point.
For a 100,000 point redemption, that's a $500 difference in value. That's leaving out redemptions at higher values.
This post was edited on 8/15/24 at 1:22 pm
Posted on 8/15/24 at 1:26 pm to Teddy Ruxpin
I transfer to Hyatt a lot too. Best hotel rewards program. I find that most times I get a better deal through the portal when I am flying domestically (American, United, Delta) than I do transferring directly to partners.
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