Description: The passage is primarily going to talk about who should not get the Chase Sapphire Reserve card, the main content will cover the exact criteria for people to use the card and the reasons why we can not get it sometimes.
I think at the end of the day, you have to find a card where your expected value, so when you get out of card versus what it cost make sense for you.
It’s a fashion from SIV and SHINee, we’re going to talk about who should not get the Chase Sapphire Reserve card, I think the main criteria that I would consider is whether I would be able to meet $4,000 at minimum spend and three months.
It should be about $1,400 to spend on credit card every month, if I couldn’t do that and I would not get the card, because you lose out on the signing bonus, sign-up bonus is $50 Ultimate Rewards points which equates to $500 in the streaming credit or $750 in travel.
The reason I’d be worried about it is that I’m effectively throwing away top edge colors, so what I would do is to look at my prior credit card statements, we see if I spend about $1,400 every month.
I have future expenses, so what I mean by future expenses is that if you have any home repairs or if you have a wedding or some other trips coming up, I would wait until those expenses are coming up in order to apply for the card and get the card.
The thing is for something like a wedding, you might already have the funds saved up, so it’s like a good opportunity for you to get points back for money you’re going to spend, if you don’t have any big expenses coming up, look at how often you eat out, so if you eat up with a group of friends, maybe ten people and everyone typically pays twenty or thirty dollars instead of you.
Even though you’re only spending twenty and thirty dollars, that has been a good way to meet the minimum, while going out, you would have another reason, I wouldn’t get the card, if I couldn’t take advantage of the benefits, you don’t travel, the four hundred fifty dollar annual fee doesn’t make sense, so you get three hundred dollars every year for our travel credit that applies to fly uber lists or anything that even codes of travel.
Uber each codes of travel meaning that every time you order to eat it, deduct from that travel balance, if you don’t think you’re going to spend that much in trouble, I don’t think the card makes sense for you, maybe some other card like the double cash which has no annual fee and gives you two percent back and everything you do would make more sense.
What I personally do is to pay off my credit cards even every week to make sure my visualization is slow, so I wouldn’t recommend this card, if you sit down, you may find something that has a low interest rate.
When you need my theory to pay off my cards every week, even though I don’t need to do that, because it keeps me accountable and allows me to know how much fun is coming out of my bank account, because if I have a big purchase one week, I pay it off.
I think you should avoid credit card, if you’re someone who has self-control, since it’s a Visa Infinite card, the minimum limit is ten thousand dollars, so if you’re someone who’s not accustomed or comfortable with having a credit limit, you should avoid this card.
The last thing I would want people to do is to get a ten thousand dollar credit limit and then splurge beyond their means, so when I look at credit cards, I try to make sure that it gets a positive expected value from what I get.