Good morning everyone. Ahh, I feel so refreshed, I just spent the last week on tropical Kauai with my girlfriend. We enjoyed inner tubing down an old sugarcane plantation irrigation canal, a 4×4 off road vehicle tour of Kipu Ranch, driving around Waimea Canyon, and eating as much poke and shaved ice as our stomachs would allow. I would definitely recommend all of those activities if you are heading to Kauai anytime soon.
During the good ole days of credit card sign up bonuses, I used to do epic 4-8 credit card App-O-Ramas every 3 months. I probably did that for the first 2 years I was in the miles and points game. Over those years, I accumulated a lot of credit cards, but now is the time when several annual fees are posting. I have 8 credit cards that posted annual fees in March (totalling $1,165 in annual fees), so now is the time for me to decide: keep, cancel, or convert? Here is the list of credit cards and annual fees. I am going to cover the first 2 Chase credit cards in today’s post, and then cover the other credit cards in a few more posts. Let’s start with my beloved Chase Sapphire Reserve.
- Chase Sapphire Reserve – $450 (posted 4/1)
- Chase Ink Plus Business – $95 (posted 4/1)
- American Express Hilton Ascend – $95 (posted 4/3)
- American Express SPG Business – $95 (posted 4/6)
- Bank of America Alaska Airlines Business – $75 (posted 4/2)
- Citi AT&T Access More – $95 (posted 4/4)
- US Bank FlexPerks Gold – $85 (posted 4/3)
- Wells Fargo Propel World – $175 (posted 3/31)
Chase Sapphire Reserve Credit Card
Is the Chase Sapphire Reserve worth the $450 annual fee? Several months ago, I converted my Chase Freedom into a Chase Sapphire Reserve, and it was one of the best credit card decisions I ever made. After I converted to the Chase Sapphire Reserve, I started to receive the $300 in travel reimbursements (before I even paid the first $450 annual fee). I also received my Priority Pass card which includes unlimited guests (you have to request this through the Chase Ultimate Rewards Portal). Between the $300 travel credit and the free meals I have had at Priority Pass lounges, the $450 annual fee is basically a wash. Then add on the 3x Chase Ultimate Reward Points on travel and dining purchases, plus the ability to redeem Chase Ultimate Reward Points for travel at 1.5 cents, keeping this credit card is the easiest credit card decision of the year. The only downside is that I had to give up my Chase Freedom and I would have loved to get 5x on PayPal purchase this quarter (that would have taken me only a few days to max out).
Decision: Chase Sapphire Reserve Credit Card is a keeper.
Chase Ink Plus Business Credit Card
Up next, let’s review the $95 annual fee on my Chase Ink Plus. I have had this credit card for a few years and it is probably my second favorite credit card. I love the ability to earn 5x Chase Ultimate Reward Points at office supply stores, internet / cable / phone bills, and other utilities. I looked at my year end summary and I spent $31,000+ at 5x merchants. I would have easily maxed out the $50,000 5x cap, but PayPal Digital Gifts (PPDG) stopped coding as 5x. Even without maxing out the $50,000 cap, this credit card is a keeper. I can easily generate enough Chase Ultimate Rewards to cover the $95 annual fee. I would have to earn 6,333 Chase Ultimate Reward Points to cover the $95 annual fee (since I transfer all my Chase Ultimate Reward Points from my Chase Ink Plus to my Chase Sapphire Reserve). To get 6,333 Chase Ultimate Reward Points, I only need to spend $1,267 at 5x merchants. That is a piece of cake, and every dollar spent after that is just gravy.
Decision: Chase Ink Plus Business Credit Card is a keeper.
What about calling for retention offers? I could probably get decent retention offers (bonus Chase Ultimate Reward Points or courtesy statement credits to offset the annual fee), but I don’t want Chase to review my credit card accounts. The less eyes on my account, the better. With that said, do you agree that both of these Chase credit cards are both keepers? If you have any questions, please leave a comment below. Have a great day everyone!
P.S. If you want to sign up for the Chase Sapphire Reserve, here is my referral link. I will get 10,000 bonus Chase Ultimate Reward Points and you will get 50,000 Chase Ultimate Reward Points after you spend $4,000 in 3 months. Unfortunately, the 5/24 rule does apply. Thank you for using my referral link and supporting the site! I wish I had a referral link available for the Chase Ink Plus, but that credit card is no longer available :(