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cv91915

What's the Downside? Upgrade Chase Marriott Visa to Premier Plus

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Posted (edited)

I've already canceled my legacy Chase Marriott Visa to reset the clock for a future SUB.

 

I'm also planning to cancel TD's legacy Chase Marriott Visa in the near future, but this upgrade (+20,000 Marriott points) would be a nice farewell gift for us.

 

Any downsides?

 

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Edited by cv91915

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I had to order a replacement for TAD's card (THE NEW CARD ARRIVED YESTERDAY AND IT ISN'T METAL!!!!!!!). 

 

I just hit a dead end attempting to do the upgrade.  I'm assuming because the offer is somehow attached to the old card number.

 

:( 

 

TveHYeI.png

 

Time to call...

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I had a client not long ago that had a 12 year history on a $50,000 unsecured revolving credit card and transferred a small balance over to a 0% interest card and the old card was closed. Then preceded to cash advance on the new credit card. His credit score dropped 75 points give or take a few on each CR. This is not exactly your situation that you describe, but a good example.

 

The industry has showed that the greatest tools are credit cards. They can be your best or worse friend. There are two types of credit card users.  Revolvers maintain a month-to month balance and pay interest and fees. Transactors pay their balance in full each month. By being a transactor rate is not as important as fees. Low fees and benefits like miles that you speak of are key.

 

The other side of the coin is this, the accounts you have on your credit report have a age factor built in that goes like this. The age factor begins with the oldest account on the report, which is recorded as the “date opened.” This is the conception of your consumer report (CR). The age of specific accounts and average age of all accounts are considered. Like example above. To get the bang for your buck you should way all these factors.

 

Keep the old card active, receive the new card and use as a transactor. Enjoy the benefits of the miles and low fees. Good Luck

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I went to the link on the mailer and authenticated. 

 

The offer presented was 50,000 points for the upgrade... and only a single purchase is required.

 

If you have a legacy Chase Marriott Visa you might want to check the web site for this offer.

 

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Hey CV, I know you took the offer, but before you did what was your thinking around resetting the clock for a future SUB?

 

I'm asking in light of the new Marriott rules for both Amex and Chase and not being able to open any Marriott cards if you basically have cards with the other bank. Were you also planning to close Amex's?

 

I have:

- Amex SPG

- Amex Biz SPG

- Amex SPG Luxury

- Chase Marriott (recently upgraded to Premier)

- Chase Ritz

 

I will be closing the Amex SPG Lux after the first year, only got it for the sub. I like the customer service on the Ritz as well am able to effectively use it ($300 travel, $100 airline credit for 2+ people PNRs, $100 hotel amenity, 3 Club-level upgrades at Ritz). But the rest, I'm a bit half-hearted on... been thinking of keeping them open for the albeit Chocolate Goodness annual free night for $95. 

 

Any good strategies?

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15 hours ago, generallissimo said:

Hey CV, I know you took the offer, but before you did what was your thinking around resetting the clock for a future SUB?

 

I'm asking in light of the new Marriott rules for both Amex and Chase and not being able to open any Marriott cards if you basically have cards with the other bank. Were you also planning to close Amex's?

 

I have:

- Amex SPG

- Amex Biz SPG

- Amex SPG Luxury

- Chase Marriott (recently upgraded to Premier)

- Chase Ritz

 

I will be closing the Amex SPG Lux after the first year, only got it for the sub. I like the customer service on the Ritz as well am able to effectively use it ($300 travel, $100 airline credit for 2+ people PNRs, $100 hotel amenity, 3 Club-level upgrades at Ritz). But the rest, I'm a bit half-hearted on... been thinking of keeping them open for the albeit Chocolate Goodness annual free night for $95. 

 

Any good strategies?

I have a personal SPG, but it may not survive the AF this time around, despite it being D*95.  It's one of two AF cards that really isn't pulling its own weight anymore.  It was a wobbler before the devaluation, now with the recent changes to Amex offers it's pretty much useless.

 

Most of the time we open new cards in my spouse's name anyway, so it's actually more important to get that one closed down to reset the SUB calendar.  There are no other Marriott/SPG cards are on that profile.

 

When the 50k upgrade bonus points post it's time for the offramp.

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