It's Time: I CANCELLED My Chase Sapphire Preferred After Just 1 Year…

I'm just going to say it, I'm not impressed by the Chase Sapphire Preferred and that is why, I've decided to CANCEL this credit card.

I know I know, a lot of you are upset. But today, let's go through one by one all of the perks, benefits and points back categories for spend to see exactly why none of them really stack up to some other credit cards with much lower to $0 annual fees.

Infact, the Chase Freedom Flex has WAY MORE perks and benefits than the Preferred and has a $0 annual fee. What with giving you cash back bonuses on dining, travel, gas stations, and much more that the Preferred doesn't offer.

And there is a secret way to convert cashback into points that you can still transfer to travel partners aka, HYATT, so look out for that!

Let me not spoil the rest of the FACTS. If you disagree, let me know in the comments below! 👇

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Tags: #chase #creditcards #ultimaterewards

[AnthonyVenture]

So if you want a MORE POWERFUL Credit Card in your wallet that’s technically 3x more expensive, but 10x more useful, check out this video next! ⤵️

[alex]

THANK YOU, FROM ROBERT IN HOUSTON TEXAS.. you are very informative and easy to understand.. keep up the good job.

[MikeLuong]

Same boat. Going to downgrade my Preferred but only after I apply for the Ink Preferred. I'll still be able to transfer my UR points to partners via the Ink Preferred as I have the Flex and reset my 1:48 rule for the Sapphire product. $95 is a still a good spend in order to transfer to partner programs.

[Rinvids]

I like this guy. Hope this keeps going.

[sarahiwuchukwu]

Just about every card does not cover target walmart costco

[ChristianHall-picz]

Hey Anthony question they do retention offers?

[vityazsix]

Lol liked and subscribed at the 13 second mark

[OfficialChadsMoneyMinutes]

Gotta say this one is my favorite of 2022, you echoed a lot of people sentiments GREAT STUFF!

[carlinrob]

Not getting the whole Elon Musk reference! Ugh!

[sindhurag]

Hello! Great information! Does cancelling cards hurts our credit score?

[shojus]

👌 Sorry for chatting SO much on the live earlier today, but was cool to hang out with you two. Take care!

[armandoangeljr]

I just got approved for the CSP and plan on keeping it for at least two years. Obviously for the bonus and for the DashPass subscription until the end of 2024. That alone cancels out the annual fee effectively… we shall see at the end of 2024 what holds in store for me. However, you do make some very valid points. I wish it had 3X on a wide array of categories like the Citi Premier or the Savor Card.

[CesarJoel]

Agree 💯!
The Chase ecosystem needs a big refresh and has the worst multipliers when compared to AMEX, Citi and Capital One. Chase can provide great value to loyalist like most setups do but it's not 2016 and the setup is outdated. All others have done constant refresh and/or introduced new products.

On the fan favorite topic of Hyatt, The Bilt card transfer to Hyatt with a $0 annual fee with 3x dinning, 2x all travel, 1x rent, 1x everything else and double the point at the beginning of every month. Ohhh and has better protections, insurances and perks.

Best Chase strategy: Intro bonus and straight to the sock drawer.

PS: The only good personal non co branded card is the Freedom Flex 😂

[DefSquadFan]

I accidentally canceled my CSP after a year. I regret it now because i cant get the Sapphire Reserve.

[callmefrog]

if i get one and wife gets one we can combine points = 120, 000 intro bonus points, WORTH IT!!! this is an everyday card

[thejoehillexperience]

The 48 month time period begins after receiving the SUB. There are a TON of data points where people have kept the card open for 4 years, then closed the card, signed up for another sapphire card, then received the bonus.

[Mark]

According to my research the CSP is overrated. Too many people hyping it up like it’s the best thing since sliced-bread. I find the Capital One Venture Card Visa Signature a little better. Free VIP two different brand Airport lounges access.

[J.]

Did you get signup bonus of flex from the downgrade? If not, would it make more sense to open flex first and then cancel preferred?

[ScottLeRay]

The CSP is not the best card if you don't travel very often....but it's a TRAVEL REWARDS CARD. I would hope that anyone keeping this card long term travels at least semi-frequently. That's were you'll start to get valued from this transfer partners, the portal (which is best in class IMO), and just the overall flexibility of points. If not, then cash back cards might be better options.

[perezdoitbest]

Just get the Black Card. Much better value.