Update: Chase Offers Me (sort of a) Compensation

A couple of weeks ago, I received a letter from Chase informing me of an annual fee increase on my Chase Sapphire Preferred. This is one of my favorite credit cards, and its ability to transfer points into numerous airline and hotel programs, makes it one of the heavy contenders out there. Ultimate Rewards points are one of the best points currencies out there, and I would hate to lose them. Furthermore, I have plans for future travels to Asia, and Europe using these points. They basically told me if I did NOT agree to the increase, then I would have to close out my card. I wouldn’t forfeit the points because I also have the Chase Freedom card, which is also an Ultimate Rewards account, but there is no ability to transfer into airlines. Its mainly cash back.
I decided to write them a snail mail letter asking them for compensation, and they have replied.

I was hoping for something a little more than $60, which is really 6000 points, but I guess at this point, its better than nothing, and will offset the cost for the next 6 years, if you think about it. I was paying $85 rather than $95. This also is a lesson in that if you are not happy with the service, say something. Otherwise, you have no reason to complain.

Happy 4th Everyone.

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A (not so good) Surprise from Chase

I love surPRIZES of all kinds…especially ones that come in the mail.  You never know what you are going to get (insert Tom Hanks image here in your head) and hope that it’s something really cool.  However, yesterday I got a surprise from Chase which I didn’t really like.  It was a notice of an annual fee increase on one of my favorite cards – the Chase Sapphire Preferred VISA card.  I have had this card for sometime, and enjoy the many benefits, which include 2x on dining purchases, 2x on travel purchases, which include rental cars, hotels, and airfare.  Just with the dining perks alone, I rack up tons of points because those morning lattes & raspberry scones can add up.

Currently, I am paying $85 annually to keep this card, which I think is fair, but starting late summer, the fee will be $95.  Like any other institution, Chase has to make a profit…okay, I get that.  However, its the terms of the increase that I am not happy about.  The letter states:

Rejecting this change: you the right to reject the change in the Revised Terms table. You want to reject it, you must contact us by 08/20/17. If you reject this change, we will close your account and you will not be able to use it for new transactions.

For this loyalty, I am not compensated for the upcoming increase.  They are not offering any other alternatives, other than to close the account, if I am not in agreement with the new fee.  This in my opinion is just bad customer service, from a customers point of view.  If you get a bad meal at a restaurant, rest assured your bill will decrease, or that chocolate molten lava cake will be given to you at the end, for compensation.  Chase isn’t doing anything, according to this letter, for those who signed up early for this card.  An additional $10 is not going to bring the house down, but money is money.  It’s also fair to note I actually had decided to cancel this card after two years, but the Chase rep on the phone raved about how I was special and only paying $85 rather than $95, which made my mind to keep the card ever since.

In all fairness, they should compensate folks who are on the old annual feel structure with additional Ultimate Reward points for the increase.  I have not reached out to them, yet, but will do so in the coming days and see what they propose to do on compensation, if any.  I will update this post with my results.  Anyone else get this letter, or similar? I’d love to hear what strategy you took on it.

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Two Credit Card Offers You Shouldn’t Ignore + Giveaway!

Last year was an amazing year for credit cards and so far, 2017 is starting out with a punch. Currently, there are two offers I would not ignore if you are looking to pick up a new credit card – or two.  The Chase United MileagePlus Explorer card is currently offering 50,000 miles, and is available to everyone.  After meeting the $3,000 spend, you get 50,000 miles which is enough for 2 round trip coach saver award tickets in the U.S. or Canada.  They can be redeemed for first class travel in the U.S. or Canada.  United has a handy chart here, to see what’s possible with your miles. Check it out.

The second card I wouldn’t ignore is the Citibank AAdvantage Mastercard, which also nets you 50,000 miles, to use on American Airlines, or its partners. Although American Airlines recently devalued its miles, I still think you can get some pretty good deals to Europe and even South America, on partners such as Air Berlin, and LAN.  They are also great to use with British Airways on short haul flights, or intra-Europe.  With stellar service on both carriers, you will have no problem traveling smoothly.  The other aspect of this offer, is Citibank cards are relatively easy to get, and you can receive the bonus more than once, so racking up tons of AAdvantage miles will be no problem.

Both cards come with a ton of perks, such as free baggage allowance, anniversary miles, priority boarding, and no annual fee the first year. Both offers wont last, and I suspect will go away soon, so I would get them now.  Of course, keep in mind with Chase, the infamous 5/24 rule applies, which means if you have applied for more than 5 credit cards, from any bank, within the past 24 months, the likelihood of approval is zero. If you haven’t, then you’ll be lucky enough to score this card. Just make sure you have a travel goal in mind, so you can use these miles, or you can just bank them for future travels on United and its partners.

I actually applied for both of these cards last year, and was approved. The Chase United MileagePlus card came with two United Club passes, which I won’t be using this year, so I’d like to give you a chance to take ’em off my hands! Please comment on how best you would use these miles, and I’ll pick someone randomly. I’ll announce a winner at the end of the week. The Hogan A319 model is not included, in case you were wondering. Happy Travels!

 

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