Took the time today to update my collection and discovered that I had not taken advantage off all of my perks. I made the summary of all my active accounts here. I notated what categories or situations I will use my cards in. It appears that I have a few accounts to downgrade or close in the upcoming year:
|Chase||British Airways||$95||Close or Downgrade October 2017|
|Chase||Hyatt||$75||Keep for the Free Night|
|Chase||Ink Biz Plus||$95||Keep for the 5x on Cell Phone and Internet|
|Chase||Marriott Rewards||$85||Keep for the Free Night|
|Chase||Ritz-Carlton||$450||Keep for $100 off flights ($150 card after credit)|
|Chase||Sapphire Reserve||$515||Keep for the 3x ($150 card after credit)|
|Chase||Sapphire Preferred||$95||Might be worth keeping for the 10k referral bonus|
|Citi||AAdvantage Plat||$95||Downgrade to Double Cash July 2017|
|Citi||Costco Anywhere Visa||$0||Keep with CostCo Membership|
So I am a sucker for the free Marriott Night and Hyatt Night which I have been using at properties that exceed the annual fee. For example the Marriott Hong Kong Sha Tin runs about $150 a night and the Hyatt Centric French Quarter New Orleans Hotel goes for about $239 a night, both are category 4 in their respective groups.
The Ritz-Carlton card as well as the CSR both offer $300 credits, effectively making the cards cost $150 each. A single booking using the Visa Infinite portal for the $100 on Ritz will bring to cost down to $50 a year. In regards to the CSR a annual fee of $150 gets you your Priority Pass with Guest Access as well as $100 for global entry.
There is no point to have CSR and CSP so its time for the Chase Sapphire Preferred to become just a no annual fee Chase Sapphire. Same goes for the AAdvantage Platinum from Citi which get me less points than my Barclay Silver Aviator AAdvantage for American Airline Bookings. This Citi AA will become my double cash card.
CostCo has become my go to, making the Citi CostCo Anywhere Visa useful and without annual fees. I tried to close the British Airways card, but they offered me $50 statement credit if I kept it open for another year. I should try this bluff more often and ask for retention department every time I call in.
I urge you to take summary of what you got in that credit card sock drawer!
Update: I called Chase to downgrade my CSP and they offered no retention bonus. I was able to transfer the remaining points to my Ink + and downgrade (PRODUCT CHANGE) to the no annual fee Sapphire. Dave posted at the same time I downgraded and suggested I keep it open for to get 10k UR points, for every referral I make. That would of been 50,000 bonus points after the new card member spends $4,000 on purchases in the first 3 months from account opening. Then another 5k for adding an AU.
Clearly if I can push the CSP down the readers throat it would of been very profitable for me, but there is another GUY that loves that game. However as I said to Dave, you can’t depend on these referrals and I can’t in good faith suggest you waste one of your precious 5/24 slots to anything but the CSR with twice the points and $300 more on top.
DerpReport in 2017 may be different as we transition away from credit card bonuses and shift over to the cash back rewards. Very few of you guys have been using the referral links, and have been unabashed about throwing points in the garbage. I think the whole point of this site was that of collaboration. I do some work, write some articles and you say thank you by using the link provided. If you think the idea is good, you would toss back some points by using my link. Instead it seems spiteful for many of you to just go and sign up for the exact deal on your own.
I do appreciate the readership, but please think about using these links if you do decide to go for it.