Chase Sapphire Preferred - BIG MISTAKES (5 Year Experience)
ฝัง
- เผยแพร่เมื่อ 6 มี.ค. 2023
- Let's review the Chase Sapphire Preferred for 2023 to find out if it's still WORTH IT (5.5 years later)!
In this video, we cover all the reasons why the CSP is such a popular mid-tier card, and go over some MAJOR mistakes I've made throughout the years so you don't make them!
🔥💳 Learn more about Chase Sapphire Preferred ➡️ kevinyang.info/sapphire-preferred
🔥💳 My Favorite Card Picks ➡️ kevinyang.info/credit-cards
Sitting between entry-level cards and premium cards with scary annual fees is the CSP, a card that provides a bunch of perks and credits across common categories and everyday spending. This card also supercharges your points earned across all Chase cards that earn UR as well, especially when paired with the Chase Trifecta!
USEFUL LINKS 🔗 to learn more about:
💳 More Chase Sapphire Reserve: kevinyang.info/sapphire-reserve
💳 More Chase Freedom Unlimited: kevinyang.info/freedom-unlimited
💳 More Chase Ink Cash: kevinyang.info/ink-cash
💳 More Chase Ink Unlimited: kevinyang.info/ink-unlimited
💳 More Capital One Venture X: kevinyang.info/venture-x
💳 More American Express Platinum: kevinyang.info/amex-plat
🎥 My TH-cam Gear: amzn.to/3ZhdF7M
---------------------------------------------
FREE STOCKS & 💰:
💸 Get 1 Free Stock w/ Robinhood after any deposit: kevinyang.info/robinhood
🛒 Get $30 Bonus w/ Rakuten: kevinyang.info/rakuten
---------------------------------------------
OTHER VIDEOS ▶️:
The 8 BEST Credit Cards (2022): • The 8 BEST Credit Card...
Amex MAX Value: • How To Redeem Amex Poi...
Chase MAX Value: • How To Redeem Chase Po...
Capital One MAX Value: • How to Redeem Capital ...
---------------------------------------------
#chasecreditcards
#bestcreditcards
#chasetrifecta
Advertiser Disclosure: Some of the products that appear on this website are from companies from which Kevin Yang will earn an affiliate commission or referral bonus. Kevin Yang is part of an affiliate sales network and receives compensation for sending traffic to partner sites. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear)
The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
Kevin Yang is not a financial advisor. The ideas mentioned in these videos are for entertainment and education purposes only, not financial advice. Please conduct your own research before making financial decisions.
More Videos: / @kevinyang
Great video here Kevin! I definitely feel with how it can be tough to keep track of all the different credits we get with different Credit Cards, which can make it easy to forget that $50 Hotel Credit. In reality though, super key to make sure you get max value from the cards you have, especially with all the value you can get on the CSP.
Agreed! Or at the very least, use enough to break even!
Even just booking one trip with transfer partners every year with this card makes it a no-brainer in my wallet. I don't know if I'll ever not have a Sapphire card in my wallet just because I love the ability to transfer out to travel partners. However, applying for a new Sapphire card every 48 months is definitely a good strategy!
Totally agree there! Part of the reason why I've kept it for so long has been the *potential* need to transfer over Chase points haha
Definitely have to make sure you’re using the points to get the most value and not make the mistake of using them for less value than you intend! Great video!
Exactly! Which is why Chase is nice given its flexibility and high baseline of 1 cpp!
I've got the card but haven't used the hotel credit yet, I really need to remember to do that😟.
Haha judging by the comment section, sounds like a common occurrence!
Amazing Video!
Thanks for watching!
How often can you product change? Can you do it multiple times in a year? For example, just to transfer points out
I've never done multiple product changes so unfortunately not too sure...
I have the reserve currently, upgraded from the preferred. Put both cards to maximum use and got a lot of value. I am coming up for my 4 year anniversary bonus. Do you suggest I cancellor downgrade the reserve and reapply for preferred a month later for the preferred to get the bonus? Some say down grade it to a freedom flex and and the reapply other say cancel and reapply.
I would say downgrade instead of cancel for sure!
Hi Kevin . How do you preserve your point by moving to chase freedom flex or unlimited.? The points from these two type will not be able to transfer to airline partner at all . How will you preserve and get back when you have your sapphire again. ? ???.
You can always product change back up, or get one of the Sapphire cards again when you need to!
Personally I struggle to make use of the $50 Hotel credit since I would rather use other programs with better value. Going to try to use it this time around for a small road trip and probably downgrade afterwards.
PS been watching you for a while and never realized you live in Washington! I was born and raised here in Washington :)
Yeah I find it hard to, given I believe it makes that entire purchase ineligible for the normal elevated points too. Washington is awesome (not originally from here though)!
I forgot to use my hotel credit last year 😔 Love the last tip!
It's an easy one to miss, though compared to a lot of other credits, not that major! Your Venture X on the other hand, probably don't wanna miss that one 😂
You live in the Seattle area it seems? As do I. So do you rock the Alaska card? Or no? I just dumped it when they raised the fees.
Honestly I should, but I don't travel enough domestically to really justify it
Just got approved for the Preferred today. So excited to have it to transfer points to partners (Hyatt) but also for the no international fees for some trips this year. Sucks they still have the multiplier for online grocery...we are post pandemic now...I guess a lot of people still do this though? Not me...I like to go up and down the aisles lol. Thought I heard that the 2x for other travel could include Airbnbs...can you confirm?
It should!
What credit limit did they start you off with ?
@@JTorres34 $16k. Was really surprised. Knew it would be over $10k due to it being a Visa Signature card. But was surprised because my Unlimited card was $500 (and still can't get them to raise it for some reason) and Flex card is $4k.
What do you think about the Chase Sapphire Preferred? Any mistakes you've made along the way?
Learn more ➡ kevinyang.info/sapphire-preferred
My heart is broken with the Hyatt point increase
Same here! The Virgin > ANA sweet spot is also apparently being increased!
If I just got approved for a chase card yesterday and have a 727 score do you think they would approve me for the csp?
I would usually wait 3~ months between cards!
To answer your question... Yes 727 is good for csp
I gotta keep the CSP primarily for the ability to transfer to partners and the general travel category 👌🏽
Exactly! That perk itself has been a key part of this card
people have been saying how bad is the chase travel portal, how do you use this card for travel with max benefits?
@@fazeelxart Transferring to partners and finding sweet spot redemptions is always best IMO!
@@KevinYang is it the same thing if we do the "pay yourself back" option or is it still more beneficial to transfer to partners.
Also! would you recommend getting the hotels through the portal or that too by transfering points to partner first? Thanks
@@fazeelxart Pay Yourself Back or using it through the travel portal will give you elevated points (1.25 or 1.5 depending on card and what method), but partners can give much higher value, but require much more flexibility and learning how to find the appropriate award spaces!
I just got a 90k point offer in branch
Yeah that's an amazing in-branch offer! Which should be available online in the near future
@@KevinYang was trying to get the reserve but the preferred had this limited offer which hasn’t been this high in a while. I can also consider upgrading to the reserve but not sure if I will.
@@bmxrider925 I agree the CSP > CSR with this welcome bonus, unless you really prefer the couple extras that the CSR gives!
I just don’t see how anyone would use Chase long term. They don’t have any significant percent back for one of the largest categories, being Groceries. Amex just makes so much more sense, even with the higher fees since they give so many amazing perks that well make up for the fees. Am I missing something?
Definitely AMEX is gonna be the end game for a lot of people. Luckily I got the Freedom Flex with the 5% grocery for 1 year so I have some time to work up to AMEX
@@jeanpaulpretto8523 I could totally see how someone would get the Freedom cards and a Sapphire Preferred for the intro bonuses, and then take some free flights. But like you said, the end game winner seems to only be Amex. Imagine having a family and spending 12-15k on groceries a year and only getting 1-2% (with multipliers) with chase, versus 4% with Amex. It adds up.
I could see Amex and Cap1 both being good long term grocery ecosystems. Savor One with no annual fee gets you 3x on grocery. As Jean Paul mentioned I've been enjoying 9x points on grocery this quarter with my freedom flex, but will probably trend towards Capital One longer term. I'd have to run the numbers, but don't see myself using any of the credits that Amex Gold comes with to bring down that $250 AF.
I don't see how anyone outside of a city would choose AmEx. The coupon books are super frustrating and lack of primary auto makes it useless for me. I rent so much that my auto insurance would be getting yearly claims without chase auto insurance.
For me Amex doesn't make sense, I buy a lot of my food at Sam's so none of the above would give me the 5% I get there. For the rest I am cooking for 1 so there are plenty of no AF cards that offer 3% always or 5% quarterly on grocery stores.
If anyone is worried about the $95 annual fee, wait until your card is a year old & put a family member or friend on it as an authorized user. Everyone has a family member or friend with sh***y credit, find yours & charge that person a few bucks.
The CSP is the best travel card for most people.
Totally agree, it's a great option that appeals to a wide population!
CSP good entry level travel card. Lacks the earning potential when compared to similar cards provided by Capital One, Citi and AMEX. Online grocery is a joke.
Agreed! I wonder how many people order groceries online for pickup or delivery?
@@KevinYang I use online grocery for curbside pickup! Curbside pickup is huge here in Texas where I live.
@@henryfabian3187 A great way to use it!
Kroger Pay counts as online for 3x
@@evangibson8020 Thanks for the datapoint!
4:51😢
Hah, nice catch!
@@KevinYang good video regardless
Classic case of having too many cards
I definitely need to do a better job keeping track! Either way, I think as long as you can break even ++, then not squeezing every cent out of the card is still okay!
hand gestures really distracting.
ADD
Its 3x not 5 x on chase travel
For the CSP, it is actually 5x for Chase Travel! From the product page: "Earn 5x total points on travel purchased through Chase Travel"