Newbie Question-Ultimate Rewards

[kwb]

This is my first post here, so please be gentle 

I'm sure this has been discussed a hundred times, but I had trouble with a search, as I feel like you guys are speaking a different language sometimes!!

I have a Chase Sapphire Preferred, and in October, I will be hit with my annual fee.  Assuming I can't get it waived, what should I do so that I don't lose the Ultimate Reward points that I have accrued? 


TIA

[sky121]

Welcome!

You'll need to have some kind of card open that accrues ultimate rewards in order not to lose your points. The freedom card is a nice option though you won't be able to transfer points to an airline though. Do you have a spouse that has an Ultimate reward account as well? You could transfer the miles. Close your Sapphire, reapply and then transfer them back. Or just leave them in their account until you're ready to use them.


P.S.  There were threads started already where you could have posted this. Try not to start a new thread unless it's necessary.  Stick around and you'll (hopefully) pick it all up quickly.

[shimino1]

Downgrade to a free card

[george]

Here are your options:
1. Pay the fee.
2. Downgrade to Freedom (if they let) or Sapphire Non-preferred. Note: this option will make you unable to transfer points into airlines and hotels, unless you or your wife have another Sapphire Preferred, Ink Bold, or Ink Plus card open.
3. Transfer points into an airline or hotel and then close the card.

[kwb]

Wow, thanks for the rapid responses!
I did try to find an open thread, sky, but there's SOOOO much information here, I had trouble sifting through to find what I needed.

So could my husband open a Sapphire Preferred with his SS number, collect the sign on bonus, and then we could transfer Ultimate Reward points between us?  That seems like a good option.

Alternately, if I downgraded, and lost the ability to transfer points, can I upgrade again in the future?  After how long would I be able to do that, and maybe get a no-annual fee for the first year offer?

You guys are awesome!!!  Thanks for your help.

[sky121]

If he opens a Sapphire, yes you can transfer the points to him.

You can then downgrade your card (or cancel?) And reapply for the Chase Sapphire again.  You have to wait since your last application.


What's your credit like?

[kwb]

My credit is fabulous.
My husband is nervous about me starting to play these games because
a. He's worried about messing with the credit score, and
b. He's afraid that in the long run, it will cost us in fees and such.

That's why I'm starting slowly!!

[sky121]

If you follow directions and use the forum members advice your credit will stay strong.

You'll earn way more than any fees will cost you.


As long as you don't have problems paying your bills and are responsible with spending then I'd say your good to go.

[Super Speed]

If you follow directions and use the forum members advice your credit will stay strong.

You'll earn way more than any fees will cost you.


As long as you don't have problems paying your bills and are responsible with spending then I'd say your good to go.

+1

[gpapadop]

>>>>>>>>My credit is fabulous.My husband is nervous about me starting to play these games because a. He's worried about messing with the credit score, and b. He's afraid that in the long run, it will cost us in fees and such

We were all nervous once You sound like a good candidate for "these games". As long as you make sure you pay the cc bill EVERY time & keep track of the cards you will be just fine. This can be VERY addictive, especially when you redeem, err score, some nice travel deals with your points!

Transfer the points out to United or British Airways or Hyatt or Southwest and then apply for another Chase card, so many to choose from! If not instantly approved, call the Reconsideration phone line and offer to reduce the credit line of the Sapphire card you have now to get the new card approved. If no go, offer to cancel it. I would not worry about downgrading it to a free card, one more card to keep track off. If instantly approved, just go ahead and cancel it, it's ok (it would be great if you can go for the Ink Bold card but it is a business card and there is a whole different "way of behaving" to get it if you do not have a real business)

Oh, and get hubby a card. Tell him to use it. Get an authorized card for yourself from his card to help him use it to meet the minimum spend!

It's ALL in the signing bonus baby!

Just keep it simple & sane. It can take over your life

[Racer7400]

CIIAW but can't she just swich it to a WMC and keep the points. Then when she wants to apply for the SP visa and the decline just transfer CL from SP WMC

[sky121]

CIIAW but can't she just swich it to a WMC and keep the points. Then when she wants to apply for the SP visa and the decline just transfer CL from SP WMC

Does that waive the annual fee 100% of the time?
It's an idea.

[kwb]

@gpapadop, can I just move the whole credit line for the Sapphire Preferred to another card, and not have to go through a credit check, or lose Ultimate Rewards?

CIIAW but can't she just swich it to a WMC and keep the points. Then when she wants to apply for the SP visa and the decline just transfer CL from SP WMC

See, that just sounds like Chinese to me!!  That's why I couldn't understand the old threads on the topic; I get lost too quickly with the jargon.

[Marco Polo]

@gpapadop, can I just move the whole credit line for the Sapphire Preferred to another card, and not have to go through a credit check, or lose Ultimate Rewards?


See, that just sounds like Chinese to me!! That's why I couldn't understand the old threads on the topic; I get lost too quickly with the jargon.

If you have the Sapphire Visa version, you can call them up and have them switch it to a Mastercard version of the card. You can then reapply for the Sapphire Visa and get the points again.

[Dan]

Does that waive the annual fee 100% of the time?
It's an idea.

#DDSeminar

[sky121]

#DDSeminar

I guess that's a yes. I've only read online about it and wasn't sure it was always.


 When's the next Seminar? When's the next midwest seminar?

[Dan]

I guess that's a yes. I've only read online about it and wasn't sure it was always.


 When's the next Seminar? When's the next midwest seminar?

Dunno, it's quite draining to talk for 2 hours and answer questions for another hour.

[Centro]

Dunno, it's quite draining to talk for 2 hours and answer questions for another hour.

Guess you would fail at a filibuster

[Dan]

Guess you would fail at a filibuster

Without a doubt.
I'm an introvert by nature, so these things don't come naturally to me.

[smaxber]

#DDSeminar

I attended the Brooklyn one. I still remember your smile as you repeated it twice lol #repsdontknowmuch