Chase Sapphire Banking

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  • Avatar Larry Ragman 
    Status: Other Professional
    Posts: 522
    Joined: 08/30/2018
    alpha investing

    Worth it.  You get your 60K UR points after 3 months and you can invest the money as you wish in a Chase You Invest account.  I bought stocks with most of my 75K with zero transaction fees.  If you are just holding it in cash then get your money out after 3 months and put it into an account that earns 2% or more interest.  Sapphire banking is well below 2%.

    Click to expand…

    Mostly I am a caveat emptor kinda guy, but since the response here has been more positive than I expect I looked a little deeper. Here is a good link with plain language.

    It appears to be a good deal if you are looking to establish along term banking relationship. Not so much if you are going to churn. Points are pulled back if you close account in less than six months. If amounts fall less than $75k, fees go up to $25 per month. I personally dislike tracking these sorts of details, but to each his own.

    #189627 Reply
    Avatar Tim 
    Status: Accountant
    Posts: 2629
    Joined: 09/18/2018

    There are ways that this makes money for you.
    1) If you want to use Chase and other services, of course take the bonus.
    2) If you want to play the “bonus” game with credit cards, it can payoff as well.

    I wouldn’t bite for $900 for the short term. It is simply a one time sugar shot. It will get old trying to move it every six months or whatever the term . Opening up and hunting the “next reward “ seems like a PITA.

    You certainly won’t get wealthy spending your efforts.
    Coupons shopping for loss leaders and shopping at multiple grocery stores will probably make the same or more. It’s going to be more a hobby is you plan on repeating.

    #189658 Reply

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