Posted by William Charles on August 24, 2017
Credit Cards

Published on August 24th, 2017 | by William Charles


[Rumor] Chase Will Offer At Least Some Chase Sapphire Reserve Cards Retention Offers (CPC only?)

A well connected reader has let us know that Chase would be offering some Chase Sapphire Reserve cardholders retention offers if they wanted to cancel after their first year of being a card member. The offers will be individualized by account and it’s possible that only Chase Private Clients will be eligible to receive a retention offer. Chase has already sent out letters to cardholders tallying the value they have received in their first year in an effort to proactively reduce cancellation rates when the second years annual fee becomes due. Chase has been looking to cut $200M in costs due to concerns that the card isn’t profitable.

If anybody successfully receives a retention offer on this card (or doesn’t) please share your experiences in the comments below, as well as things such as whether you have CPC status or not. You can read our complete guide to retention offers here. You’re unlikely to get an offer until after your annual fee posts, so wait until then. Keep in mind you have 30 days after the annual fee posts to cancel and receive a refund.

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I called yesterday to product change at the one year mark and received no offer. Product change was completed in only a couple minutes with only a cursory question of why I was changing.

What did they offer…what did you take as product change? Thanks~

But when was your AF posting? A number of us who got the card as part of the leaked link or the live link are being billed on 10/1. You may have called in too early.

I probably did call early, but for me it didn’t really matter. Last year my annual fee posted on 9/1 and I didn’t want to have to deal with the annual fee being credited back (although it sounds like that is painless from what others are saying). I wasn’t clear on when you need to cancel by to not have to pay the annual fee so I just called at the 1 year mark.

Are there any downsides or ramifications of downgrading now and then upgrading at a later time? Obviously you lose the 3x and 1.5x and PP etc. but any other downsides?

If you don’t have another premium card you lose the ability to transfer UR to travel partners.

Last week, I product changed my Chase Sapphire Reserve to Chase Freedom Unlimited a few days before the 1 year mark. I wasn’t offered anything during my phone call. I received a credit of $37.50 for 1 month of annual fee refund though.

By the way. I am not CPC.

Marco, what state do you live in? Trying to gather DP’s, some have indicated it’s only in MA that prorated refunds apply.

I’m in NY. I’m pretty sure that the refund isn’t state restricted.

Received in LA also

I similarly PC my CSR to the Freedom a few weeks before my annual fee and noticed a $37.50 credit.

I am a CPC and I was not given a retention offer. But as stated before, I did receive a partial refund on the annual fee which was unexpected.

Just closed my CSR yesterday. No retention bonus was offered with more than 30K spending lasting year

Will downgrading give us same credit limit as Sapphire Reserve card? does it hit for Credit score for downgrading?

Credit limit and APR stay the same. I think credit score isn’t affected because it appears as the same account it’s just now a different product.

Hmm wonder if I will get anything as I spent almost $200K on the CSR.


I hope it wasn’t your only daily driver.

Just called Chase about the AF for my CSR and Ritz:
CSR: $150K spend, no CPC = No offer
RC: $90K spend, no CPC = No offer

Seems like Chase doesn’t want to offer any retention on either card. With the annual travel credits, the AF for both cards are really $150 for me. I probably will keep the cards as I value having UR points instead of MR points. The RC card is pretty good for Marriott/SPG status but don’t find much use with the club lounge certs due to the restrictions on the qualifying rates.

For those who have asked for retention offers, DoC is asking if you are Chase Private Client. Please do so in your comments. Thank you.

Uh- no one has even asked for a retention offer yet while the AF is charged to their account because the first round of AFs won’t hit for another week…

Actually, don’t expect any DP until middle or late September. I got mine as part of the leaked link and my AF posts on 10/1.

Any news about return to 100k sign up bonus?

Yup, I would expect it to return right after they find the Loch Ness Monster

Why you gotta bring Nessie into this

Apparently, Chase lets people in the same household transfer URs between accounts. If both spouses have the CSR, might be worth consolidating URs under 1 CSR and ditching 1 AF and still retain the 3x and 1.5x.

Anyone see any downsides to this?

Only downside I see is if the other spouse is not an AU on the CSR you keep and this is the only Chase card you have with the ability to transfer to partners, then you wouldn’t be able to transfer to that spouse’s accounts with transfer partners. If that makes sense.

Spouse loses priority pass so only has lounge access when you travel together. Otherwise, PC one to a Freedom for earning potential.

Not sure whether I should be happy for CPCs or feel sorry for them.

On the one hand, they may get a retention offer here. On the other hand, they could do SO much better handling their finances and investments if they just learned to do it themselves. Having Chase do it for them is expensive, and makes me sad.

how expensive? only $50 annual fee

A lot of people get CPC because they had money from selling a home in a Chase account and were targeted.

Not necessarily. I am CPC. Qualified by transfer over of an IRA with Vanguard funds in it. I pay no management fee to Chase, and since I was only ever leaving that money in place, not intending to trade and play around, it is exactly the same as when the funds were at Vanguard.

However, if I did choose to open a brokerage account they do not “manage” the money unless asked to do so. Also a CPC gets all trade fees refunded.

Just curious – what’s the rough amount you transferred?

my private client banker seemed to indicate that the rough guideline to be offered CPC is about $250,000 in assets. But the private banker has discretion and can offer it to someone with less assets at Chase, who seems to have the potential for more.
I’ve enjoyed the service more than expected, she’s has done some nice things, including keeping an eye on my daughter’s new bank account and calling her when a pre-approval came up for a credit card she wanted, and overnighting a debit card (to use at ATM to get cash) to our hotel in Prague at no charge.

I’m aware of the guideline and I know not everyone will move that much to get the account type.

That’s the kind of soft touch I wish I got from my current financial service (a local CU). I don’t have that warm, happy feeling about them.

I feel bad tying up money with Chase after everything I’ve done to get away from big banks but they’ve won me over again. Maybe I just need to stop in at my branch more often to get to know the bankers (and dress nicer than just t-shirt and jeans).

Today, I called to downgrade my CSR to Freedom 2 weeks before the AF gets charged again. I told her that I would consider keeping it if they would lower the AF. She was unable to lower it. I have zero UR in that account. I’m not a CPC.

Did you confirm when your AF would post? Go check and make sure it wasn’t going to be in October.

I am pretty sure my CSR AF will post on Sep 1. I plan to downgrade, but would definitely be open to retention offers as well. Any tips to get “targeted”?

Check your most recent statement. I thought the same and it’s actually 10/1.

I see. Mine is confirmed 9/1. My INK+ statement does not have this feature, but I assume it will be 9/1 as well. Got it at the same time as CSR w/ waived 1st AF.

Interesting. Did you apply in August or September? I was part of the leaked link and figured it would be 9/1 but I get an extra month.

I applied several days after official release in branch. It was in August.

Where do you see when the fee will post before it does?

It’s in the comment you replied to – your most recent statement.

Yeah I’m asking where on the statement because I see nothing on my statement about the annual fee for the coming year. Last year posted on 9/1 so I assumed this year would be the same.

Below the Account Summary.

If It was going to post in September it would show up on your July statement, not August. If it’s not on either of those you weren’t getting billed your AF until later.

Still nothing on August statement. That’s weird that it wouldn’t post the same time for year two, but I guess I know better for next time. You would think they’d be prompt on the annual fees if they are trying to make up that two hundred million.

Make sure y’all PC/cancel within 30 calendar days of annual fee posting date. NOT STATEMENT DATE. They will NOT refund if more than 30 days.

I don’t know about the Reserve, but for other Chase cards, I was refunded the annual fee after 35 days. So I don’t know if it’s a hard 30 day rule.

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