Do I deserve Chase sapphire preferred?

Google
yoaF50

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yoaF50
Sep 19, 2021 27 Comments

I got a BOA Cash Reward, 5.25% for almost all online purchase. Thinking about get a Chase Sapphire Preferred for offline activities such as dining, travel, grocery shopping, etc + the huge points offer they are offering now. Should I get the card? I am also curious if 1.25 cent each point is inflated on the Chase ultimate reward portal since everything could be priced higher... Thanks!

TC: 220k
#creditcard #chase

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TOP 27 Comments
  • New / R&D
    Psynaptic

    New R&D

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    Neuralink
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    Working on Brain Machine Interfaces at Neuralink
    Psynaptic
    You got played by BoA.

    By getting the preferred rewards, you had to lock up probably 100k for 3 months. You practically make no interest on it during that whole time.

    That's the equivalent of putting away 33k for a year, and if you earn just 3% on it from government or investment grade bonds, you're looking at $1000 in investment returns.

    For you to earn $1000 through 5% Cashback rather than 3% cash back which many cards have, you have you spend 50k in credit card purchases. Unlikely.

    For most people, the BoA card is a terrible choice. And the preferred rewards program is also, except for certain use cases.
    Sep 19, 2021 1
    • Microsoft / Eng
      BigGulp

      Go to company page Microsoft Eng

      BigGulp
      You don’t need the 100k in checking/savings account. It can be in a brokerage account fully invested. Nobody got played. OP knows how to play the game.
      Sep 19, 2021
  • Microsoft / Eng
    BigGulp

    Go to company page Microsoft Eng

    BigGulp
    How do you get 5.25% with a BoA card?
    If it’s grocery 3% + .75x multiplier then it’s still only for grocery, not everything.
    Sep 19, 2021 10
    • Microsoft / Eng
      BigGulp

      Go to company page Microsoft Eng

      BigGulp
      For Amazon & Whole foods there is Amazon card for 5% cash back.
      Sep 19, 2021
    • Uber
      uberdev

      Go to company page Uber

      uberdev
      I’ve applied 2 times for Amazon card but didn’t receive it. I got +2 inquiries and no card. I went to Chase and assistant said that Chase can’t give me this card. My credit score is 770-800. I Have only 2 BOFA cards and Chase sapphire reserved.
      Sep 19, 2021
  • Link to this cash reward ?
    Sep 19, 2021 5
  • The point value is definitely not inflated on their travel portal. They just use Expedia’s booking system except branded as chase travel. Plus you can transfer points 1:1 to a few airlines
    Sep 19, 2021 0
  • Apple
    cQmA53

    Go to company page Apple

    cQmA53
    Not much offering. I like their transport credit which applies anything that’s taxi, Uber eats etc. that’s it. Their travel program sucks.

    But their points are easily transferable to one to one unlike Amex
    Sep 19, 2021 0