Posted by William Charles on June 19, 2017
Credit Cards

Published on June 19th, 2017 | by William Charles

108

Chase Fairmont Card Will Be Converted To Chase Sapphire Preferred On August 15th – What You Should Do [Added Elite Status Information]

Update: Some readers had been asking what would happen with Fairmont status from this card. I asked Chase and received the following response:

  • Cardmembers will continue to earn Premier Status through February 28, 2018 (unless they close their Fairmont account).

Chase has sent out a letter to Fairmont cardholders letting them know that on August 15th their card will be converted to a Chase Sapphire Preferred card on August 15th. Things to note:

  • Card will be keeping the same account number and account pricing
  • New card will come with a new expiration date and security code
  • New card will arrive within six to eight weeks from August 15th
  • You have until August 15th to redeem points through the current Fairmont program, after then they will be transferred to the Sapphire Preferred card (making them Chase Ultimate Rewards)
  • Free night benefit is discussed in some detail (see image below)
    • If you have spent $12,000 before August 14th they will deposit a free night into your account (either within six weeks of your account anniversary date or 8 to 10 weeks after August 15th – whatever comes first).
    • If you don’t have the full 12 months to reach the $12,000 spending requirement they will give you the free night if you have spent more than $6,000 by August 14. Keep in mind if you recently applied then you have probably meet the minimum spend requirement of $3,000, so spend another $3,000 and get a free night.

What You Should Do

I think the best option for most people would be to get another Chase Freedom card (if you already hold one or more you can product change to this card but not apply for it again directly) as this gives you more spending capacity ($1,500 per quarter per card) on the 5x categories. If you don’t have a Chase Freedom and you’re under 5/24 it might make sense to apply for that card first and then product change this card so you can hold two Chase Freedom’s. Although there might be other higher value card you want to apply for that also fall under 5/24 status.

Basically for most people the best option is as follows:

  • Let Fairmont points convert to Chase Ultimate Rewards
  • Product change Chase Sapphire Preferred to Chase Freedom

Unfortunately the Fairmont card earns at the following rates:

  • 5x on all Fairmont stays
  • 2x on all airline tickets purchased directly from the airlines, at car rental agencies, and on transit and commuting
  • 1x on all other purchases

So not that useful for building up points before the conversion.

Hat tip to reader Mark A for the image and also Rapid Travel Chai



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108 Comments on "Chase Fairmont Card Will Be Converted To Chase Sapphire Preferred On August 15th – What You Should Do [Added Elite Status Information]"

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does this mean a backdoor CSR without signup bonus for ppl who are over 5/24?

Wondering this too. Is Fairmont dead for apps? Any zombie links out there?

This was my first thought as well. The downside is you forgo the sign up bonus, unless your two free night certificates are somehow converted to points.

your two night certs are not on chase.com and not redeemable through chase. they are certs loaded to your Fairmont account.

Fairmont also has points. Those are loaded/kept with Chase. I just cashed some in for gc’s.

Fairmont card’s last zombie links stopped working in mid January. It’s not longer available for sign ups.

Can you work your way up from a Freedom or FU?

If you don’t have any Chase UR cards and are over 5/24, visit a branch, open a checking account, and use a pre-approval for an UR card.

Was anyone able to product convert the Amtrak card before the conversion date? Would like to convert to this to Freedom ASAP, and not have to wait until August.

For people who signed up less than 12 means before August 14, only 6k spend for free night, which should mean only 3K more for a free night that expires 2/28/2018

It seems like you could get 2 anniversary nights all without paying the annual fee.

For example, if anniversary date is 7/17, you could (1) get an anniversary night for the prior year’s spending ending on 7/17, and (2) get an anniversary night by spending $6k between 7/17-8/14. Then, on 8/15, downgrade the card and have the annual fee reversed since it is within 30 days of posting.

No. There’s a line in the picture that says you can’t get more than 1 free night cert even if you spend more than 12K.

I think that means you can’t get two free nights per year by spending $24K, this would be two separate card years and could work if you had that specific anniversary date.

What cricket said – if your anniversary year is only 3 weeks long, as in my example, it appears you can get 2x anniversary nights and downgrade within 30 days.

IIRC, new applications were shut down 1/12/17, which is when I applied for myself and my spouse. Approval took recon calls for both.

Interesting offer by Chase on the < 1 year spend threshold for a free anniversary night, and a creative solution for those of us in that situation. Can we safely assume that the $6k spend < 8/15 includes the $3k minimum spend already completed for the signup bonus?

Great news! Opened Fairmont this Feb., so I can get 3 free nights by spending only $6000. Also, I am way above 5/24, CSP will let me cash out the points earned by freedom.

How do you figure? Doesn’t it say $12,000?

Oops. Now I see. I didn’t read the text of the letter. Good news indeed!!

When would your annual fee be due ? The same as your Fairmont or does it reset?

I am wondering the same thing about AF. Thrilled to be able to get another free night for 3K more spend and also convert to CSP.

Will, I think you left out something important. If you haven’t had 12 months to spend 12k for anniversary night, the threshold will be lowered to 6k. A lot of people (including myself), opened it soon before it was discontinued, and therefore won’t have 12 months by August 15. I spent 3k, just enough for the signup bonus, so now I just have to spend 3k by August 15 to get a free anniversary night

Better By Design
Better By Design

That’s my read on this too. Since I haven’t used the original 2 free nights, loving the option to top up to $6000 spend by August for a 3rd.

Anyone confirm we’re thinking about this correctly?

That’s how I’m interpreting it as well. $3K more spend (assuming just spend for the bonus thus far) for another night and then a back door to a CSR – hopefully this works out as well as it sounds like it should

You likely won’t be able to convert to a CSR until it’s a year old.

A little confused. If it’s been more than 24 months since I’ve last held the csp, and I let my fairmont convert, that means I will lose out on the signup bonus right? So in my case, I should convert to freedom after it converts to csp so I won’t lose out on the signup (provided i am under 5/24 of course)?

I’m assuming we can still use the certificates we received from the cc like suite upgrade, dining certs etc since it’s in our fairmont account? Thanks.

YES.! I am way over 5/24 and have been dying for the Preferred and the Reserve both..

Hold on.. This means I am sacrificing the 50k sign up bonus that I would have got in Jan when I actually signed up for the Preferred..

Any thoughts on how I can still get my hands on the preferred sign up bonus?

At least I will hit the other 3k in spend for the Free night in no time, with I had known about this so I could have capitalized on a 6 night stay instead of the 4 nights I already booked with now a separate 2.

What happens if you have free night certificates from the signup bonus earlier this year? I assume those are untouched? And, if you applied then, it sounds like you can get another cert by spending $6k?

Anyone else missing the dining certs and the upgrade certs from their account ? I only see the 2 free stay certs. Also how do you redeem them ? Just book and call to redeem ?

All of mine and my wife’s still show in the system as available. I just confirmed.

so, i’ve got a unique situation. i just closed my fairmont card two weeks ago because i didn’t want to pay the annual fee. I closed it and got the annual fee refunded.

After seeing this, i called up chase and had the card reinstated since i would like to get the card converted to CSP, then to freedom. Does this mean that the annual fee will get charged to me again?

I would imagine that letting the conversion happen means you pay the Fairmont annual fee, and miss out on the $150 sign up bonus on the Freedom.

In your case wouldn’t it be better to just leave it closed, keep the refunded Fairmont annual fee, and open the no fee Freedom with the $150 / 15000 UR bonus?

I’m WAY over 5/24, so getting another freedom through a new sign up isn’t possible.

I”m happy to pay the $95 to get another freedom card (will probably recoup my money within 6 months if they have some good MS opportunities), I was just wondering if it will get re-charged to me.

Am i correct that since my annual fee came due on june 1st and I had spent 12,000 in the last year. I will get my certificate when the statement closes. since my new anniversary year starts June 1st, if i spend 6,000 by august 14th I will get another certificate .I

believe so, but since the first certificate has not been deposited into my fairmont account yet and chase says you cannot earn more than one certificate I wonder if they count it from the date of the letter that they only earn one certificate then I wouldnt get a second if spending 6000 or if it resets even after anyway and id get both

this is what people are speculating, but everyone is being too naive. best case scenario is what you are describing. everyone would want that and that would be “fair” and would be a nice double dip. however, NOWHERE within the notice does it describe in detail of what happens to the AF CC holder who hit their AF prior to AUG 15th and still have some time to hit 6k before the cutoff.

one can actually argue both set of interpretations for and against and they would not be wrong. meaning chase has not explicitly promised anything nor denied anything in their letter.

HOWEVER.. they do actually say “you can not earn more than one night by spending over 12k”. at first glance, you may think chase is talking about the 12k limit in one membership year, but what if they vaguely mean “as of this notice, you can not earn more than one FREE regardless how you obtain it either 12k or 6k…”

hmmm…

Any idea what this will mean for the FPC Premier status that comes with having the card?

cmon, just guess. this card is over in aug. its not anything positive…

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