January 5, 2017

Chase Sapphire Reserve 100,000 Points Is Ending Soon


Last week, I wrote a post about my Top 3 Cards For My New Year 2017's Resolutions. I did not expect that I had to attain that resolution this early in the year. The gist of it is, I signed up for two Chase credit cards: Sapphire Reserve and Marriott Premier cards. I'll explain why I had to do that this soon.

Chase Sapphire Reserve 100,000 Sign Up Bonus Is Ending Online & In Branch:

Online travel community is blogging like crazy about Chase cutting the sign up bonus for the Chase Sapphire Reserve from 100,000 bonus points to only 50,000 bonus points. That's 50% cut! The deadline is Jan 12, 2017 which is next week for online application. However, that 100k bonus will stick around little bit longer until March in the branch.

Time To Act Is NOW!

I pulled the trigger and decided to re-evaluate my financial circumstances. Chase has 5/24 rules that if you have any at least 5 open credit cards with either Chase or any other banks in the last 24 months, they will deny your application for their certain credit cards. I have learned my lesson when I tried to apply for Chase United credit card last year that was denied due to my credit report showed that I had 6 opened cards in the last 24 months. But January this year, according to my credit report I only have 3 opened cards in the last 24 months. Therefore, I took the plunge and applied for the Sapphire Reserve first, and then Marriott Premier credit card later, on the same day.

Two Chase Cards On One Single Day

The reason why I applied for both cards at the same time because each time you apply for a credit card, there's a "hard inquiry" on your credit report. It stays on your report for 24 months. More of those inquiries are not good for your credit history. You may ask, if that is the case, why I applied for two cards that could increase the hard inquiry from 1 to 2? Simply put, by applying for two personal Chase cards on the same day, the hard inquiries will be combined by the credit bureau that Chase uses to pull my credit in order to approve/deny my application. Thus, my two cards application will result into only one hard inquiry. If I wait until next day or later on to apply for the Marriott Premier, then my credit report will end up having two hard inquiries. I also used two browsers tricks to apply for each card just to be certain.

Application Verdict

Both of my applications were instant approved online. That's right, as of today I added the Chase Sapphire Reserve and Marriott Premier credit cards to my Chase portfolio. I am more excited than ever about the Sapphire Reserve's 100,000 sign up bonus points that is equivalent to $1,500 towards travels. Those points are even more valuable when transfer to airlines and hotels loyalty programs. Besides from that, there are so many perks that come with this card that I am looking forward to taking advantages of. Marriott's Premier Credit Card is another good hotel card to be added to my wallet, specially after its merger with my favorite Starwood (SPG) hotels. Furthermore, each anniversary year with Marriott card, I'll receive one free night certificate for category 1-5 Marriott hotels.

For more information about the benefits of these cards, check out the credit cards offers article.

Final Thought

I did not expect to apply for Sapphire Reserve and Marriott Premier credit cards this early in the year although I did make a resolution to get these two cards in 2017. However, due to Chase is cutting 50% of sign up bonus of Sapphire Reserve from 100k to just 50k points, I had to act now. Because I already applied for Sapphire Reserve and my credit already got pulled, I decided to go ahead and apply for Marriott Premier credit card as well so that both hard pulls can be combined into only 1 pull. The instant approvals of both cards made my day today!



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