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chase has been sending out mailers . if you have the sapphire reserve already and a chase chacking account . they will give you 50k points for upgrading to chase private client .
damn -we did the reverse last month . opened the chase account first then took the sapphire .
there is a hitch i just saw in the fine print .
to get the status chase requires 250k normally but it can be mutual funds ,stocks ,ira's ,etc .
in this case it is only 100k but you can only use cash and it has to go in checking . they also will be issuing a 1099-int for the points which will be taxable .
to get the status chase requires 250k normally but it can be mutual funds ,stocks ,ira's ,etc .
in this case it is only 100k but you can only use cash and it has to go in checking . they also will be issuing a 1099-int for the points which will be taxable .
Do you have a link to the actual offer and fine print? I didn’t see it in the blog post.
to get the status chase requires 250k normally but it can be mutual funds ,stocks ,ira's ,etc .
in this case it is only 100k but you can only use cash and it has to go in checking . they also will be issuing a 1099-int for the points which will be taxable .
I wonder why those points are taxable and credit card bonus points aren’t? Maybe because spend is reqiured to get the points, so it can be considered a discount rather than income?
Pays to read the fine print.... unexpected income for me is a nightmare. I’m probably not the only one.
Do you have a link to the actual offer and fine print? I didn’t see it in the blog post.
it is in the fine print at the bottom of the mailer about no securities , only cash added to checking . it is treating points as interest .
Terms and Conditions:
IMPORTANT INFORMATION
*Bonus/Account Information: Customers must be a Chase Sapphire Reserve cardmember prior to 9/15/2017 to be eligible for this offer. Offer not available to existing Chase Private Client customers. To receive the bonus: Meet with a Chase Private Client Banker to upgrade to a Chase Private Client checking account, deposit a total of at least $100,000 or more in new money in your upgraded account within 10 business days AND maintain at least a $100,000 balance for 90 calendar days from the date of the deposit. The new money cannot be funds held by Chase or its affiliates. Upon the customer’s enrollment, Chase will review the account to ensure the eligibility criteria are met. This offer is not transferable, is limited to one per person at any given time, and may be discontinued at any time without notice. 50,000 Sapphire Reserve Ultimate Rewards points will be posted to the primary cardholder’s account up to 45 days after the eligibility criteria have been met. The Annual Percentage Yield (APY) for Chase Private Client CheckingSM effective as of 9/7/2017, is 0.01% for all balances in all states. Interest rates are variable and subject to change. Additionally, fees may reduce earnings on the account. You can only receive one bonus for upgrading your Chase Private Client checking account.
The Ultimate Rewards points transferred to you under the terms of the Program are considered interest received from Chase. Therefore we will send you, and file with the IRS, a Form 1099-INT (Interest Income) or a Form 1042-S (Foreign Person’s U.S. Source Income Subject to Withholding) for the year in which the points are posted to your account. You are responsible for any tax liability related to participating in the program. Please consult your tax advisor if you have any questions about your personal tax situation.
**Available to individuals who maintain an average daily balance of $250,000 or more in any combination of qualifying linked deposits and investments. If total balances in qualifying deposits and investments do not meet the Chase Private Client requirements, Chase may contact you to help determine an alternate Chase product. Qualifying Chase deposits and J.P. Morgan investments include the following:
a) Up to 9 Chase Private Client CheckingSM accounts, Chase High School CheckingSM accounts, personal savings accounts, Chase Liquid® Cards, CDs, certain investment management, fiduciary and custody accounts, certain Retirement CDs, or certain Chase Retirement Money Market Accounts (balances in Chase Money Purchase Pension and Profit Sharing plans do not qualify); and
b) Prior end of month balances for J.P. Morgan Securities LLC (JPMS) accounts, certain retirement plan investment balances (balances in Chase Money Purchase Pension and Profit Sharing plans do not qualify)
Last edited by mathjak107; 10-19-2017 at 05:08 PM..
I just saw on southwest’s site that they are running an offer for California residents only - open a rapid rewards credit card and earn a free companion pass. Looks like the pass is good for a year, though admittedly I didn’t investigate since I already have the card and pass.(For those of you who like to jump down others throats for no good reason....you know who you are.)
Looks like the card only requires 1k spend and you get 40000 signup points. Looks too good to be true...anyway, for fellow California residents interested, the offer is advertised in the lower right hand corner of southwest.com
I just saw on southwest’s site that they are running an offer for California residents only - open a rapid rewards credit card and earn a free companion pass. Looks like the pass is good for a year, though admittedly I didn’t investigate since I already have the card and pass.(For those of you who like to jump down others throats for no good reason....you know who you are.)
Looks like the card only requires 1k spend and you get 40000 signup points. Looks too good to be true...anyway, for fellow California residents interested, the offer is advertised in the lower right hand corner of southwest.com
A compassion pass would be worth 1000.00 if that's simply what they charged you directly for imo. Seems like a strange offer though especially with the CA restriction https://thepointsguy.com/2017/10/sw-...nia-residents/
A compassion pass would be worth 1000.00 if that's simply what they charged you directly for imo. Seems like a strange offer though especially with the CA restriction https://thepointsguy.com/2017/10/sw-...nia-residents/
It's a great deal. If their route map worked for my family, I would have opened cards for both me and my wife.
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