Did some comparisons between chase reserve and sapphire. Their annual fees has huge difference . But I have seen ppl debating for chase reserve. I just joined my first job and looking to upgrade my credit card from freedom student . Please suggest. Tc : 200k #personalfinance #investments
Sapphire is great for first upgrade. Honestly the reserve didn’t give me as much as I paid for it - and I travel pretty often. Also when you upgrade existing card you don’t get sign up bonus - consider that when you’re getting the card. Also you get extra bonus for signing up without referral directly at the bank. Definitely explore options. You can always convert sapphire to reserve later and transfer your points.
Reserve is not worth it.
Omg. Ignore ALL THESE COMMENTS. Do not upgrade your card to Sapphire unless you want to miss out on $1000+ value. Product change your student card to Chase Freedom Flex. It has 5% rotating categories and earns you UR points on a ton of other stuff. Wait for an elevated welcome offer on either CSP or CSR, then apply directly. You don’t get SUBs for product changing so this is important. Then you can pool your UR points from the Flex into the Sapphire. As for which Sapphire, just get the one with the elevated offer assuming you travel a decent amount. Sapphire bonuses are once every 4 years, so you want to get the highest one. They both have access to the same travel partners (Hyatt has best value), CSP just has less perks and lower fee, while CSR has more perks/credits to offset the higher fee. If you get CSP, upgrade to CSR after first year. After 4 years, downgrade Sapphire to another Freedom card, and apply for another Sapphire bonus! DM for more info
Tbh, even more optimal is to PC your student card to the Chase Freedom Visa (also has 5% categories but is discontinued so can only be changed into). Then apply directly to Flex now. You get $200 SUB + 5% back on Gas+Grocery for first year. You will then have double the limit on the rotating categories! Each card can spend up to $1500 in that quarter’s category. Then whenever a Sapphire bonus comes along, do the above move for max points. Don’t spend your UR points until you have a Sapphire.
You'll make out ahead only if you travel regularly. The $300 travel credit + the priority pass itself will give you value... If you don't travel then there very little value.
Is the $300 credit really worth it though? It’s essentially paying for a $300 ahead of time and then they give it back to you. So the real question is whether you can redeem the balance fee with enough points that pay for the high fee. I think a lot of travel is need to get back 295 🤷🏻♂️
For me I probably get more than $1000+ with just the priority pass. Every round-trip from Seattle can be $56*2 restaurant credit + $28 lounge. If I had a guest then double that. Going to any decent international airport means even better lounges. Apart from that there's always other perks thrown in - now there's Lyft Pink for 2 years. For me because I travel a lot it's a no-brainer. If I stayed at home, not so much.
If by "upgrade" you literally mean asking Chase to product change your current card to a higher end card - NEVER DO IT! Always apply for new cards, for the opening bonus, and downgrade to no annual fee on year 2.
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Reserve, lmk if you want referral 🫡