Sapphire Preferred would not waive the fee.

Discussion in 'General Discussion | Credit Cards' started by satman40, Sep 3, 2014.  |  Print Topic

  1. satman40

    satman40 Gold Member

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    I called, I tried, I almost cried..

    I called and applied for the regular, no fee Sapphire card, got 10k in points, and will cancel the prefered.ll

    I love Chase, saved $95.00 and received 10k extra points...
     
  2. WilliamQ

    WilliamQ Gold Member

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    you did not serenade. that would have done it :)
     
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  3. lapointdm

    lapointdm Silver Member

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    The thread on flyertalk about chase retention seems to suggest that saphire is a tough one to get a retention on. At least you managed to keep many of the benefits and earn some extra points at the same time!
     
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  4. satman40

    satman40 Gold Member

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    One of the guys on FT said he got 2500, top guy said he had a 70k spend, and no dice,

    No one said anything about going for the no fee card...

    Even if I give them away, it is hard to leave points on the table, and pay a fee.

    I'd keep it if they would have given me some points, I will apply again in 2 years...
     
  5. FlyingExplorer

    FlyingExplorer Silver Member

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    Unless you have very substantial bonus category spend on the CSP, it's always more profitable to churn every 2 years, even if they waive the AF.
     
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  6. sheikkila02

    sheikkila02 Silver Member

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    Sorry for a simple question, but is that two years after the date you close it? And is the 2 years a hard limit?
     
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  7. FlyingExplorer

    FlyingExplorer Silver Member

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  8. Boraxo

    Boraxo Silver Member

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    why should they waive the fee? they need to make some money from the churners. the bonus points for retention are more than most people get.
     
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  9. satman40

    satman40 Gold Member

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    My understanding you need to wait 2 years and 2 months to be safe, to reapply and be a churner...

    It would appear the bank are making money from the churners, I received 5 cards and 500,000 miles from Citi, and I am sure they are there to make a profit.

    Many poster did more, and many canceled before the fees hit so they say.

    I did pay the fees, and will cancel all but 1 card. I am glad to pay a fee if their is value in the card for me...charity is a two way street.

    I was born poor, no real need to die that way.

    I often bargained for better rates on home loans, we are doing nothing but buying another persons service, money has a mark up, just like a gallon if gas.

    I am helping the bank look good by applying and using their Credit Cards,

    That is how I look at it.
     
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  10. FlyingExplorer

    FlyingExplorer Silver Member

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  11. FlyingExplorer

    FlyingExplorer Silver Member

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    Great stuff! Particularly considering that AA miles are likely more valuable than UR points. However, why did you pay the fees?
     
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  12. satman40

    satman40 Gold Member

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    "However, why did you pay the fees" ???

    I feel it is the right thing to do, to cancel and beat them out of a fee, is like a renter slipping in a few extra people to pay their rent.

    I am sure bank keep a record of clients who short change them,, as well as the LL

    Karma,

    I try to get the best deal, but to me canceling the card, before the fee of the new card comes due is right up there with stealing.

    I am in life for the long run, and do my best to be fair with everyone,

    At 73 it has paid off, I have done better than 99% of the others.

    No one gets ahead trying to get even, or cheating anyone.
     
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  13. WilliamQ

    WilliamQ Gold Member

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    Admire your philosophy in life but I also know that many industry do get "ahead" at the expense of their customers.
    How may crisis did we went through in the recent years due to the the banking industries "innovative" business practices.
    The practice of (shady) patent trolling also comes to mind.
    I am not condoning the practice but there are a lot of individuals and firms out there that does gets ahead by questionable means.

    That aside, bank marketing staff frequently tells me "... No worries on the annual fees after the 1st year fee waiver is over. You can always call in for a waiver or terminate at no penalty..."

    I know that these staff are trying to hit their targets and the bank surely knows. But the bank also prefer me to have the card and maybe (just maybe) use it then me not having the card and definitely not use it since I do not have it. So, I got the cards.

    That was in the past when I apply for anything I qualify. Now, I have much lesser cards and most of my transactions are focused to 3-5 cards and that's due to the discounts associated. The game of I have so many credit cards became too much trouble than what it was worth.
     
  14. FlyingExplorer

    FlyingExplorer Silver Member

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    Do you use an inkognito window without an affiliate link to make sure the bank doesn't have to pay out an affiliate fee?
     
  15. satman40

    satman40 Gold Member

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    The banks are required to loan money to unqualified people, it is a government law..,Frank and Dodd...

    Interest rates are at an all time low, set by the Federal Reserve.

    Slum Renters, price controls, and guess what...Slum City..


    Now the solution is to pay the burger flipper $15.00 an hour.

    Do not feed the Animals, they will forget how to hunt for food..

    ******++++******+++++


    Actually I look for links of speakers I have meet at FTU, just to show support.

    Seattle was a good show, wonder how many really put their money where their mouth us..,not my first show...
     
  16. flightnurse

    flightnurse Silver Member

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    I disagree, since SQ is no a transfer partner UR are just as valueable as ever. UA can be dropped from UR and I wouldn't miss them one bit...
     
  17. flightnurse

    flightnurse Silver Member

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    My partner and I both did 5 citi Excu cards, we are keeping them until th anniv and will convert them to other Citi cards but we are keepin 1 each...
     
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  18. satman40

    satman40 Gold Member

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    I love it when the banks offer a good deal for the consumers, it helps us both.

    I have bought many vehicles and properties over the years, and when borrowers let these thing go back it hurts the borrowers who try to do the right thing,, just like beating the bank out of the initial cc fee, is not the right thing, goes to the character of the person.

    When you cheat the bank you are only cheating your self.

    Banks do not deserve a bad name, they have always been there to help people, yet one can only be helped so much, we all need to take personal responsibility.
     
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  19. Boraxo

    Boraxo Silver Member

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    I do not have a problem with people cancelling when the AF comes due. What is more borderline ethically is to demand a retention bonus and then cancel anyway. However by the same token I don't see why people get upset when banks don't offer a retention bonus. Banks do what is profitable for their bottom line, just as most of us do. Hence it makes no sense for them to waive the AFs unless the profits offset the loss of AF.

    Why is it a surprise that bank does not value churners who rarely use card and pay no AF's? Really what is more shocking is that they permit churning to continue unabated. Obviously they must find enough of these customers are profitable to offset those that are gaming the system.

    Enjoy the multiple signup bonuses while you can, but please don't come whining about the AFs!
     
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  20. B1BomberVB

    B1BomberVB Silver Member

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    The annual fee is for the upcoming new year which starts when it is billed! So if you get it billed now, it's for services which the bank intends to provide Sep. 2014--Aug. 2015, therefore there's nothing dishonest about cancelling now! Indeed, the fee you paid (or waiver you got) in Sep. 2013 was for services from then up until now!
     
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  21. satman40

    satman40 Gold Member

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    The banks are making money, or they would not do it. I have 20 some active cards, and will renew any of them that shows value.

    When they ask, I tell them I apply for the perks, one CSR told me her and her husband had 5 AA EX Cards,

    So far I have had no problems applying for new cards...

    Just like a bank when I was young they gave me a rough time, had to put more money down to buy a property, today the seem to throw money at me...

    Credit cards are like free money, built more than one house on them..
     

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