Chase Sapphire Reserve: Downgrade Sapphire Preferred And Other Chase Cards?

Have you gotten the Chase Sapphire Reserve? Well, are you thinking about downgrading it to another account like the Sapphire Preferred or another card? To tell you honestly, it is a common dilemma for those who have been approved to this account. It lets us think twice about holding other cards because of the annual fees incurred. Personally, I think that it would be most beneficial to downgrade from Chase Sapphire Preferred to a Chase Freedom. You may also get Chase Freedom Unlimited to avoid paying annual fees on these cards.

 

Difference Between Chase Sapphire Preferred And Chase Sapphire Reserve

There could be quite a meaningful difference between the two. Chase Sapphire Reserve’s annual fee could actually be more expensive than the Chase Sapphire Preferred but it provides more value when analyzed in the long run. The annual rate for the Reserve is 150 USD with 300 USD credit for travels while it is 95 USD annually for Preferred. What’s good with paying greater annual fees for the Reserved account? Well, for a mere difference of 55 USD, you could be getting a lot more value from the Reserved. You could earn triple the points whenever you dine or travel using the card.

Making some computations, I think that each point for the Chase Ultimate Rewards is actually equivalent to at least 2 cents. If you just spend a total of 2,500 USD annually and triple the points making it 7,500 then multiply it with 2 cents, then it would be really easy to compensate for the annual fee of 150 USD. So it’s basically like waiving your annual fee because you get more points than what you initially pay. What I love about the Chase Sapphire Reserve are the other perks offered such as reimbursements to travel delays of up to 500 USD, access to Priority Pass Select lounge, free trip cancellations, and a lot more.

Also, I think you could also keep your Citi Prestige for just six months to get seven times for your travel points, then cancel after that.

To share with you my experience with Citi Prestige, which is also wonderful, definitely. Well, I got four Thank You Points from Citi for every dollar that I spent. That’s about 7 times the points from all my travels in six months! Then I got another 35,000 Thank You points again which can give me a reward of at least 8,750 USD on my travel spending. With these offers from Citi Prestige, I personally think that I’ll be using the card more often in my travels but also cancel it once a better deal comes in the way.

 

Canceling Citi ThankYou Premier

Now that I already have the Chase Sapphire Reserve, I am finally deciding to cancel the Citi ThankYou Premier. Although it really offered me great benefits, I just think that having it is already redundant. The Chase Sapphire Reserve provides me with maximum benefits for my travels. For someone like me who’s always on the go for some world exploration, I just really think that the Sapphire Reserve responds best to my needs.

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