Good afternoon everyone, I hope you had a great weekend. I had a fun time watching the latest FTU Virtual Seminar on Saturday (April 10) and am looking forward to attending the next FTU Virtual Seminar on May 22. In other news, I officially redeemed all my Chase Ultimate Rewards Points last week. Yes, you read that correctly, I now have 0 Chase Ultimate Rewards Points across all my Chase credit cards. Every month when our credit card statements would close, I would transfer the points from my Chase Ink Plus, Chase Ink Bold, and Laura’s Chase Freedom to my Chase Sapphire Reserve. I would then redeem the points via Pay Yourself Back toward recent grocery and restaurant purchases.
Since it has been more than 4 years since I last got a sign up bonus on the Chase Sapphire Preferred Credit Card or Chase Sapphire Reserve Credit Card, I plan on applying for the Chase Sapphire Preferred soon to get the increased sign up bonus. Before I apply for the CSP, I redeemed all my points and converted my CSR to a Chase Freedom Flex Credit Card. In this post, I will show you what happened next.
On the CSR Benefits and Redemptions Overview page, I can see that I used up my full $300 annual travel credit and redeemed ~150K points during the last 12 months. All 26 of those transactions were with the Pay Yourself Back feature (149,843 x 1.5 CPP = $2,247.65 statement credit).
During the last few days, I made sure to use up the $60 DoorDash credit and even used a small portion of the $120 Peloton credit. I also made 0 transfers to airline partners in the last 12 months.
Here is what my CSR account activity looked like before I product changed to the Freedom Flex. The $550 annual fee posted on April 1 and the $100 “Annual Membership Fee Adjustment” posted on April 5. I used the $60 DoorDash credit on 2 purchases and the second credit posted on April 7.
I called Chase around 12:30pm on April 8 to product change / downgrade from the CSR to the Freedom Flex. The conversion process was quick and the agent read a few disclaimers before completing the process. ~30 minutes later, I received cancellation emails from DoorDash DashPass and Grubhub Grubhub+. This is a good reminder that these card benefits will disappear very quickly after you close or product change your CSR. I didn’t really get much value out of these 2 benefits, so I am not sad to see them go.
The following day when I signed back into my Chase online account, I noticed the Freedom Flex card automatically appeared in my account. The $550 annual fee was reversed and backdated to April 1. The $100 adjustment is still there, but I assume that will be reversed too in the coming days. The strange thing that I noticed was that I now had 106 points in my account.
I think I figured out where those 106 points came from. My most recent DoorDash purchase was pending and the points did not post yet. If I earned 3x on that pending purchase, I would earn 139.29 points. There was also a recent Southwest Airlines refund that was pending which would be -33.60 points. When I combined those 2 numbers (139.29 – 33.60), I ended up with 105.69 points, which rounds up to 106 points. Mystery solved, I think.
I am excited to receive my new Freedom Flex and look forward to maxing out the 5% cash back categories of gas and home improvement stores this quarter. If you have any questions about the product conversion process, please leave a comment below. Have a great day everyone!