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Every travel hacker needs either the Chase Sapphire Preferred or Chase Sapphire Reserve credit card in their wallet to gather up points and transfer them out to partners for lucrative business class seats and hotel stays. When starting out, it's always better to start with the Chase Sapphire Reserve because of this hack that can profit you more than the annual fee.
If you don't have a referral link from a friend or family members, feel free to use ours here: REFERRAL LINK
Year 1
Year 1
Apply for the Chase Sapphire Reserve. Pay the $550 annual fee, but recoup the cost with the $300 travel credit, $60 Doordash credit, $100 Global Entry credit.
Spend $4,000 to get the 60,000 points, which is worth at least $900
End of first year: Loss of -$90 if you don't include the bonus points earned
Year 2
Year 2
Wait for 2nd annual fee to hit then use the $300 travel credit. Purchase flights, tolls, Uber credits, etc.
Downgrade the card to the Chase Sapphire Preferred. Chase will reimburse the full $550 if downgraded after 30 days BUT they will not claw back the $300 travel credit.
End of second year: Profit of $300 | total profit of $210 after two years
Downgrade/Application Steps:
Downgrade/Application Steps:
Call Chase at 1-800-493-3319 (also on the back of your credit card if you want to verify)
Get a hold of a representative and let them know you want to downgrade your Chase Sapphire Reserve to the Chase Sapphire Preferred
After answering a couple questions, the card should then be downgraded. You'll receive the new card in the mail a few weeks later. In the meantime you can still use the card you physically have.
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