Forget Chase Sapphire Reserve! Apply for US Bank FlexPerks & Ameriprise AMEX Platinum before September 1

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Good morning everyone.  I think the Chase Sapphire Reserve Credit Card hype is dying down a bit.  Unfortunately, I am way over 5/24 and I have no pre-qualified offers, so it looks like I won’t be getting the Chase Sapphire Reserve Credit Card anytime soon.  I’m a glass half full kind of guy, so I am always looking for the next best thing.  There are 2 other cards that I am applying for now.

The first is the US Bank FlexPerks Business Edge Visa Credit Card.  Thanks to the awesome performance by Team USA, the current sign up bonus is 34,800 FlexPoints after spending $2,000 in 4 months.  The sign up bonus is great and the minimum spend amount is quite easy.  The sign up bonus is the same for the personal version of the credit card – US Bank FlexPerks Visa Signature Credit Card.  I already have that credit card (along with the US Bank FlexPerks American Express Credit Card), so the business version is the only one I am going after.

US Bank Olympics Promo Landing Page

If you go to the US Bank Olympics promo landing page, you can apply for either credit card.  The business version is listed at the very bottom of the page.  I had trouble applying online (US Bank could not verify my business or home address), so I called the number and filled out the application over the phone.  The process was very slow and time consuming, but I should have an answer in the next 2-3 business days.  If you want to learn more about the promo, check out this Doctor of Credit post.

US Bank Olympics Business Link

The next credit charge card that I am interested in is the Platinum Card from American Express for Ameriprise Financial (I will call it the Ameriprise AMEX Platinum for simplicity).  This card has the same perks as my current AMEX Platinum, but comes without the sign up bonus and first year annual fee.  The only perks of my current AMEX Platinum that I care about is access to the Centurion Lounges and if I could get this card with no annual fee, that would be awesome.  Doctor of Credit has a great AMEX Platinum comparison post that is worth reading.

AMEX Plat Ameriprise Home

If I already have the AMEX Platinum, why do I care about the Ameriprise AMEX Platinum?  The answer is simple.  A few months ago, I wrote American Express Changes to Card Updates, Forex Fees & Annual Fee Refunds.  In that post, I wrote that American Express would no longer offer partial refunds on annual fees for all credit and charge cards closed after 30 days from the date the annual fee is billed.  The new policy goes in place beginning on September 1, 2016.

AMEX Terms Conditions Changes 6-4-2016-3

If I get the Ameriprise AMEX Platinum now, I can close my current AMEX Platinum and get a partial annual fee refund, but I must close my current AMEX Platinum by September 1.  Time is running out and I only have a few days left to get approved for the new Ameriprise AMEX Platinum.

If you have any questions, please leave a comment below.  Have a great day everyone!

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43 thoughts on “Forget Chase Sapphire Reserve! Apply for US Bank FlexPerks & Ameriprise AMEX Platinum before September 1

  1. Tom C

    Fantastic find on the US Bank Card. I assume the points are good as a travel credit like Capital One or the BofA Travel Rewards Card?

    1. Grant

      Not quite. 20,000 FlexPoints = airline ticket up to $400. 30,000 FlexPoints = airline ticket up to $600. Best use is to purchase tickets right under $400 and $600.

  2. E

    So why the Ameriprise Plat before 9/1? I don’t think it matters when you apply/get any any Amex.. the 9/1 rule goes into effect for all cards prior to that as well.

    1. Grant

      I don’t want to close my current Amex Platinum and then not get approved for the new Ameriprise Amex Platinum. I should be able to get a partial refund on the annual fee if I close the card before 9/1.

    1. Grant

      I don’t have experience converting, but you should be able to convert a card in the same family of cards. You might need to have the card open for at least 1 year.

  3. Sam

    Don’t you have to freeze credit bureaus for US bank cards prior to applying? Or is it different for business cards?

  4. Mser

    Is the AF refund substantially bigger than the $200 airline credit you’ll get next Jan 1? If not I’d wait to cancel as you’ll be adding another pull

  5. Nit

    I had both ARS and IDA frozen and applied yesterday. Today I checked the automated line and was denied. Talked to a rep and the reason was “too many new accounts in last 6 months”. Lets call this US Bank x/6 rule where I don’t know the value of x.

  6. Dino

    Grant, why not downgrade it to a Premier Rewards Gold (assuming u already had it before) when the AF posts. It does have a $195 AF but the $100 airline credit resets even if u used up the $200 fr the Plat this yr. then early 2017 u get the $100 credit again before product changing to a Plat (no credit check as acct # stays the same) then the $200 credit resets again. U do lose ~ $50 on the Plat but the Amex sync offers should take care of that. I’ve been doing this the past couple of years. There is no limit as to how many charge cards we can have anyway.

      1. medellinfein

        They also pulled Trans Union for me. Also in California. Instant approval “pending verification”.

        Also, there was no spot in the business application (AFAIK) to put your Flex Perks number as a referrer.

  7. Erik

    I went into the Chase branch in Oakland this Saturday morning. And I got approved for the sapphire reserve card! I have applied for more than 5 cards in the past 24 months, so I had known my chance of getting it approved was slim. But the offer was too good to pass, so I went in anyway. I can’t believe I’m approved. Chase is my first bank, and I have been with them since 2008. It was called Washington mutual before. I think having a good relationship, applying in branch, having both checking and savings accounts with them help. Just my two cents.

      1. Erik

        No, I wasn’t pre-approved. I just walked in, and sat down with a banker. I told her I wanted to apply the new Reserve card. She asked for my driver’s license and a Chase card, then she filled out an application for me. After signing the application, she told me the system processed my application and I was approved.

  8. Richard

    Hi Grant,

    Can you share with me more about your US bank Flexperks Business card application? What was your app process like when you tried to do it online? I submitted the application online the last day of the promo. Right after the application, it told me that it was pending and I should hear back from them within a few days.

    I checked the phone status line every day and it always said that I should hear something within 3 business days unless verification then 7 days. I could not wait and called them on Friday and the Lending dept told me that the business card has to go to verification. I was told to speak with them on Monday about it.

    Do you know what verification is like with US bank? I also have another US bank business card (Club Calson) with them.


    1. Grant

      Hi Richard, my experience has been similar to yours. I applied and called back every few days to check the status. Finally I learned that my application was denied due to too many recently opened accounts. I spoke with a biz reconsideration rep and asked her to move $10,000 from my US Bank Club Carlson Biz CC to the new US Bank FlexPerks Biz CC. I should have received a response by yesterday, but US Bank is very busy/slow. I assume that if my US Bank Club Carlson Biz CC credit line drops by $10,000, that I will/was approved. At this point, I’m still waiting for any type of email or letter from US Bank. Good luck with your application!

          1. Richard

            I learned that my application was denied due to frozen IDA and ARS. I was told by verification team that I should unfreeze them and apply again. — I am not going to do that since the window for Olympic promotion has passed and I am not going to waste another HP for an uncertainty and poor customer care.

            I am debating to file a dispute to get my EX inquiry removed since they auto denied it due to those two reports frozen, not even taken into consideration of EX report. Very frustrated with them at this time… I think this may be the extent of “our relationship.” Hopefully your application turned out ok.

          2. Grant

            Hmm, that’s a bummer. I told US Bank to move $10,000 from US Bank Club Carlson Biz CC to open the new US Bank FlexPerks Biz CC, but it doesn’t look like anything happened. I will follow up with them in the morning and turn up the pressure. Maybe telling them that I want to close my US Bank Club Carlson Biz CC will motivate them to help me out. I will report back in the morning.

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