The question for me, with cashing out UR for groceries on the CSR is...will cashing out at 1.5x for groceries wipe out the 5xUR earned on the grocery purchase? I can’t quite get a handle on whether it will or not. If it does then I don’t think it will be worth it. I’ll max out my $1500 for May and June, go back to using BCP for groceries, and save the UR for something else. Guess I’ll be watching for DP’s.
A statement credit won't reverse UR earnings. When you redeem UR as a statement credit it's like when you make a payment on the card. Essentially Chase is making a payment on your card.
I used to redeem for statement credits because it seemed easier than getting a check and then just paying the card with it anyway - never had a UR adjustment since it's not a refund or return.
My reading of it is that you would not get the 5X for the $300 that would be wiped out by the travel credit, but should get 5X for other grocery purchases in June. Hard to say for sure. My plan is to switch to CSR for groceries in June (have already used the travel credit) for the 5X and 1.5 redemption, then just go back to using CSR in restaurants for the usual 3X and take advantage of 1.5 redemption for those charges.
I read it differently. Chase says you'll get the points for it. (
https://www.chase.com/personal/credit-cards/sapphire-reserve-benefits)
"Now enjoy more flexibility with your annual $300 Travel Credit. From June 1 through December 31, 2020, gas station and grocery store purchases will also count toward earning your Travel Credit.
You’ll also earn points on these purchases (and, as always, after your first $300 in travel purchases, you’ll immediately start earning 3x points on travel)."
Also, the fine print only mentions not earning points on the first $300 in travel purchases and not any of the other temporary categories.
"$300 Annual Travel Credit: A statement credit will automatically be applied to your account when your card is used for purchases in the travel category, up to an annual maximum accumulation of $300. Starting June 1, in addition to eligible purchases made in the Travel category, purchases posted by December 31, 2020 in the Gas Stations and Grocery Store categories will also count toward the $300 Annual Travel Credit.
Annually, the first $300 in travel purchases will not earn rewards points, regardless of whether the Annual Credit was earned on purchases for Travel, or for promotional offers on other categories, for example at Gas Stations, or Grocery Stores... "
It's only travel purchases that won't earn UR, and it won't earn UR even if you use the Travel Credit for groceries or gas. For example, you use all $300 of the Travel Credit on grocery before ever making a travel category purchase, your first $300 in travel purchases still won't earn UR.
While it seems strange it makes sense from a system programming standpoint to roll this out quickly. This way they don't have to change anything on the UR earning rules and just have to add a couple categories that trigger the credit. So that's how I'm reading it.
I should know this but I don’t. Is the sapphire $300 travel credit good from Jan1-Dec31 OR A YEAR FROM THE DATE OF THE ANNUAL FEE? Gee... why don’t I know this??
It depends on when you got your card. If you opened it before May 2017 it may be on calendar year, opened after that it's card member year.
In the UR portal it'll tell you when your benefit resets. If it's card member year it's the statement closing after your anniversary. For mine - anniversary April 16, statement closes May 15, my credit is available on May 16.
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Only send them what they ask for. If they are only asking you for why you had a CR pull, then just answer that. They can probably see your balance on your CR but mine was newer and I don't think it was showing up.
I think OP said CIP, that wouldn't be reported on a personal CR and they wouldn't see the balance or card. But I agree, only send what's asked.
You shouldn't have to give them a statement. Just the credit card number. That is how we verify them. We give the credit card number to the credit report company and they do a supplement, verifying balance, payment and payment history. I would leave the word business out of it, as they might want more info on possible self employment that you didn't disclose.
If it's a business card that's not reported to the usual personal report agencies, would you still be able to look it up through the usual sources? Or would you send it to agencies that track business cards?