Jump to content

Are You Renewing Your High Fee Travel Credit Card (e.g. Chase Sapphire Reserve)?


mnocket
 Share

Recommended Posts

I'm not sure I should renew my Chase Sapphire Reserve credit card.  It has a very high annual fee and I'm not sure I will have enough (any?) travel expenses in 2021 to offset this fee.  I'm wondering what others, who don't foresee much traveling in 2021,  are doing about renewing high fee travel cards.  Thoughts?

Link to comment
Share on other sites

51 minutes ago, mnocket said:

I'm not sure I should renew my Chase Sapphire Reserve credit card.  It has a very high annual fee and I'm not sure I will have enough (any?) travel expenses in 2021 to offset this fee.  I'm wondering what others, who don't foresee much traveling in 2021,  are doing about renewing high fee travel cards.  Thoughts?

 

I have made the Reserve card work. I used my 2020 travel expenses last January. Also I renewed Global Entry.  They have Pay yourself back. https://thepointsguy.com/guide/chase-pay-yourself-back/ so I think I can use it this year. I still have 200,000 points so not canceling. AMEX Platnium is the card I am considering not renewing. 

 

Link to comment
Share on other sites

If I don't save my points for travel expenses, I can spend them on Amazon (lesser dollar value, but keeps them from expiring)(to Sapphire Reserve points expire? Need to ask my banker...). 

 

We love the Reserve card for everything else, and it is the card we have signed up for many auto-payments, so we will keep the card. Travel will come back! It wouldn't make sense to drop it for 2021 just to reapply in 2022. For us.

Link to comment
Share on other sites

Hi 

 

Obviously, it would depend on the card and the benefits offered. 

 

For myself, of course I will keep it. That "premium" card is one of three that I use regularly, but is the only one I "pay" a fee. They all give me benefits/rewards and I use them to get maximum benefit, if possible. 

 

They all give either cash back or what I would consider an acceptable equivalent, without expiration. The premium card, naturally gives much more. Travel and medical insurance, free stock trades, premium interest rates on GIC's, additional product protection, and the list goes on. One that I did really like using was free access to the premium airport lounges (I think 10 times a year for me). So, I am not traveling and don't need travel insurance, but I continue to get the other benefits. The value of those are still more than the premium that would be paid, for me, but this particular company/bank further sweetened the deal by waving the fee if you maintain $5000 in a checking account. Since I had normally kept close to that amount in that account and potential interest lost is close to nil, for me it was a no brainer. 

 

Like all things, you need to determine if there is value there for you, but always remember if you spend a little time researching, you might find a better product. 

 

Link to comment
Share on other sites

Just a note, if you cancel your Sapphire or Reserve card and reapply within 24 months, Chase won't give you the sign-up bonuses. If you get 4(?) new credit cards in the prior 24 months you won't get any card from Chase.

 

These policies were in place to avoid churning cards for cash/points and before CV19, so they may have been modified to attract/keep more customers.

 

 

  • Like 1
Link to comment
Share on other sites

7 hours ago, crystalspin said:

If I don't save my points for travel expenses, I can spend them on Amazon (lesser dollar value, but keeps them from expiring)(to Sapphire Reserve points expire? Need to ask my banker...). 

 

Here's the info. We each got a card for the signup bonus and when mine came up for renewal we transferred the points to Bob's account.

 

Transferring to another person's account

You can move your points, but only to another Chase card with Ultimate Rewards belonging to you, or one member of your household. ... However, when you transfer points to someone else's Ultimate Rewards account, he or she must be a member of your household.
Sep 24, 2020
Link to comment
Share on other sites

On 1/2/2021 at 3:14 PM, c-boy said:

ours is up for renewal in February. We use it frequently, and the benefits are too good to pass up.

 

Ours gets us into the airport lounges but its not cheap.   

 

I have to hand it to our credit card company though because they rebated 50% back to us recognizing that we could not use the airport lounge service during COVID.

 

What's in your wallet?

 

 

  • Like 1
Link to comment
Share on other sites

While I haven't cruised in a while, I have still traveled. I may have even earned more value from my CSR in the past year than normal. Between the new 5x bonus categories, pay yourself back, doordash credit, and lyft benefits, on top of everything else, I did just fine.

 

I guess if you can't even use your $300 travel credit (which I think they let you use on other categories) or don't dine at all, then I would cancel it. 

  • Thanks 1
Link to comment
Share on other sites

57 minutes ago, Joebucks said:

While I haven't cruised in a while, I have still traveled. I may have even earned more value from my CSR in the past year than normal. Between the new 5x bonus categories, pay yourself back, doordash credit, and lyft benefits, on top of everything else, I did just fine.

 

I guess if you can't even use your $300 travel credit (which I think they let you use on other categories) or don't dine at all, then I would cancel it. 

 

I used my $300 last January for 2020. You can use the $300 for gas and groceries until June this year. I think I can manage that. Also I read they are giving a $100 credit on renewals this year.

Link to comment
Share on other sites

On 1/5/2021 at 6:48 AM, JRG said:

 

Ours gets us into the airport lounges but its not cheap.   

 

I have to hand it to our credit card company though because they rebated 50% back to us recognizing that we could not use the airport lounge service during COVID.

 

What's in your wallet?

 

 

  ..." What's in your wallet?.. "  😄 

 

  we still travel (ed) a lot, mostly business.  We went from NetJets to the Wheels Up Costco plan. Used the Sapphire card to pay for membership. 

 

 

Link to comment
Share on other sites

Please sign in to comment

You will be able to leave a comment after signing in



Sign In Now
 Share

  • Forum Jump
    • Categories
      • Welcome to Cruise Critic
      • New Cruisers
      • Cruise Lines “A – O”
      • Cruise Lines “P – Z”
      • River Cruising
      • ROLL CALLS
      • Digital Photography & Cruise Technology
      • Special Interest Cruising
      • Cruise Discussion Topics
      • UK Cruising
      • Australia & New Zealand Cruisers
      • Canadian Cruisers
      • North American Homeports
      • Ports of Call
      • Cruise Conversations
×
×
  • Create New...