Questions and Answers

i have the reserve card now and also the citi prestige which i get more benefits from. i dont like paying the fees on both even though i get credits. if i took out the preferred chase card and got its bonus and then cancelled my reserve card would i be able to combine both cards points on my remaining preferred card. i know the difference in fees on reserve net of the 300 and 95 cost of preferred is only 55 if i could pick up the extra 50k bonus is that worth it? thanks.

You sure would! But instead of cancelling your Reserve card, what about downgrading it to a Freedom or Freedom Unlimited (neither of which have an annual fee)? That way you’ll still keep the line of credit open and the Unlimited will actually earn more points for non-bonus category spending than the Preferred will. So you’d use the Preferred in its bonus categories and use the Unlimited everywhere else.

This is exactly what I’m doing! I applied for the Chase Sapphire Reserve on the last day of the 100,000 point bonus in March, then applied for and got the Chase Sapphire Preferred today, eligible for both bonuses. I plan to keep the Reserve, downgrade the Preferred to the Freedom Unlimited and downgrade another existing Chase card to the standard Freedom next year when annual fees are due. I use the Ink Business Preferred for my business expenses, so I should have Lucky’s Chase quadfecta in place by Labor Day next year.

I’d just wait until the annual fee is due on the Preferred before you downgrade it. Banks tend to frown on folks downgrading cards right after getting the signup bonus.