Which Chase card to get, 5/24 rule and transfer to partners

V

volker

Level 2 Member
So far I am not falling under the 5/24 rule but probably will soon. I accumulated points on my Chase Freedom card with the hope to transfer them later.

Now I am not sure if I should get an advance Chase card, that can transfer points to airlines or hotel programs, or which I should consider or not.

So far only two (new) available cards seem to be able to transfer points

* Chase Sapphire Preferred (50k signup bonus, 2x travel and dining, $95/yr after the first year)
* Ink Plus Business (60k signup bonus, 5x on office, phone, internet etc, 2x at gas + hotel, $95/yr from day 1)

Since these cards are probably not $95/yr worth long term (not enough transfers) I am wondering what other options I have. Are downgrades/upgrades excluded from the new 5/24 rule?

The business card is in general more interesting due of their 5x category, I assume I will be able to downgrade it to the Ink Cash in the future. I have to check if I can come up with enough reasons to get a business card ("managing house expenses as private business entity").

Can the Freedom card be upgraded in the future while not having had the CSP before?
 
Matt

Matt

Administrator
Staff member
volker said:
So far I am not falling under the 5/24 rule but probably will soon. I accumulated points on my Chase Freedom card with the hope to transfer them later.

Now I am not sure if I should get an advance Chase card, that can transfer points to airlines or hotel programs, or which I should consider or not.

So far only two (new) available cards seem to be able to transfer points

* Chase Sapphire Preferred (50k signup bonus, 2x travel and dining, $95/yr after the first year)
* Ink Plus Business (60k signup bonus, 5x on office, phone, internet etc, 2x at gas + hotel, $95/yr from day 1)

Since these cards are probably not $95/yr worth long term (not enough transfers) I am wondering what other options I have. Are downgrades/upgrades excluded from the new 5/24 rule?

The business card is in general more interesting due of their 5x category, I assume I will be able to downgrade it to the Ink Cash in the future. I have to check if I can come up with enough reasons to get a business card ("managing house expenses as private business entity").

Can the Freedom card be upgraded in the future while not having had the CSP before?
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Ink is 70K right now I believe, which makes it a clear winner over the CSP IMO.

You probably wouldn't want to upgrade to the CSP as you'd lose the bonus, which defeats a lot of the purpose.

I don't know what the 5/24 rule is either.
 
V

volker

Level 2 Member
Matt said:
I don't know what the 5/24 rule is either.
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5/24 rule means that if you got five new credit cares in the past 24 months you will not get approved for a new CC from Chase. If you churn you can't get a new Chase cards in the future (e.g. one that allows transfers to partners). YMMV, but you have to factor this in.
 
G

GettingReady

Level 2 Member
volker said:
5/24 rule means that if you got five new credit cares in the past 24 months you will not get approved for a new CC from Chase. If you churn you can't get a new Chase cards in the future (e.g. one that allows transfers to partners). YMMV, but you have to factor this in.
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Matt's a Brit or something. He has a dry sense of humor and was being facetious. He wrote a post about the 5/24 rule here.

https://saverocity.com/forum/threads/the-5-24-rule-is-nonsense.434965/
 
Matt

Matt

Administrator
Staff member
volker said:
Yes, YMMV, but seems like some people where hit by it. Since no one can tell me if they might hit me with it or not I have to find a save way.
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The point of the other thread was to suggest the idea that your YMMV aspect is crafted by your perception. If you read it you'll see I was also 'hit' with it, but moved through it. Other than that, I think the Ink at 70K is the way forward...
 
MickiSue

MickiSue

Level 2 Member
As Henry Ford said, If you think you can do a thing, or you think you can't do a thing, you're right.

I make a point of thinking the first, myownself.

I'm pretty sure that Matt does, too. Even going so far as thinking that he can renovate an old lake home with a tiny baby in the house.
 
zceuxbhjutf

zceuxbhjutf

Panel 3 Member
Get the Ink. It's harder to get but once you have it I think it's easier to get the annual fee waived and stuff.
 
V

volker

Level 2 Member
zceuxbhjutf said:
Get the Ink. It's harder to get but once you have it I think it's easier to get the annual fee waived and stuff.
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I basically desided for the Ink. But the 70k offer is only available at a branch... and the Washington, DC metro area doesn't have any. I will not drive over 150miles for this. I also do not see how the annual fee is waived in the first year.

Thanks for the feedback. Maybe I wait another 1-2 months in the hope that another high bonus comes out.
 
suljaga13

suljaga13

Level 2 Member
volker said:
I basically desided for the Ink. But the 70k offer is only available at a branch... and the Washington, DC metro area doesn't have any. I will not drive over 150miles for this. I also do not see how the annual fee is waived in the first year.

Thanks for the feedback. Maybe I wait another 1-2 months in the hope that another high bonus comes out.
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I recently got Ink for 60k. After the bonus posted they came out with 70k offer. I bassicly sm Chase 3 times to get matched to 70k offer. First two time i got denied, and third time I got insant 10k UR.
 
Matt

Matt

Administrator
Staff member
suljaga13 said:
I recently got Ink for 60k. After the bonus posted they came out with 70k offer. I bassicly sm Chase 3 times to get matched to 70k offer. First two time i got denied, and third time I got insant 10k UR.
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Yep. There's a link here to leads to Reddit I believe that shows the offer, add that to the SM helps. You can see the link on @GettingReady profile posts.

I would get the 60 now and match, 60 is a good offer even if you fail to match... Or maybe you could also try to call them up and apply for 70 on the phone, never tried but might work.
 
ShoNuffHarlem

ShoNuffHarlem

Level 2 Member
If your over the 5/24 rule and get mailed a direct offer is that limit waived? Like I keep getting Ink 60k offers mailed to my business. Of course I'm not over the 5/24 rule something maybe if I was I wouldn't get the mailing.

I also think within a year the Co brands are not going to be happy with this rule.
 
D

david347

Level 2 Member
From one of the posts on r/churning, it looks like Chase was originally refusing to match the in branch offer (although some reported success after multiple SMs), but has since changed their policy and started matching it without a fight.
 
User2016

User2016

Level 2 Member
I will say hold off for few months. See if 140k RC offer pops up anywhere. I'm in a similar situation like yours and I dont want to end up getting hit by 5/24 rule when the 140k RC offer shows up
 
V

volker

Level 2 Member
Before I applied I called Chase and asked if they can match the branch offer. I told them that there is no branch in this entire region (Washington, DC metro area). Nothing they could do. Just the online application. Well, it was a try worth. I couldn't loose.

I applied now online. I will see if they will deny me or not. I read more and more suggestions that you should not call the reconsideration line unless you where denied. I put my recent really low annual revenue ($100) in the application but can proof a higher numbers for 3-4yrs ago. I hope this honesty won't be a deal breaker for them. It's just fluctuates. Maybe I do more freelancing end of this year and much more will come in and I rejected already a gig beginning of this year. I hope they will accept that if I have to call in.
 
V

volker

Level 2 Member
Just got an email that I got approved. One of the many times where I don't understand how the financial world ticks. $100 reported revenue for a business card... no reconsideration line or any of that fun.
 
M

MaiJohnson

Level 2 Member
Congratulations. I recently did the same, and just waiting on the card to arrive. Don't forget to SM in to get the bonus bumped up though as soon as possible, from what I've read the option you select seems to make a difference on matching with people having more success with account inquiry/other or general question instead of reward inquiry. Good luck!
 
V

volker

Level 2 Member
I also will try to get the annual fee waived. I would have opened the card at a branch but they don't seem to like the East Coast.
 
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