I'm a long-term Chase VISA Signature Marriott Rewards card holder. I'm leaning towards switching to the PREMIER card primarily to avoid paying the foreign transaction fees (although the handful of extra points won't go to waste). It seems like the savings on any significant amount of foreign travel would more than outweigh the higher annual fee.
I welcome any insights or reasons to not make the switch or take the plunge.
There is an informative post by NYCUWS10025 on this topic [for the record - those are the types of posts that make this Forum so valuable!!!], but it's a couple of years old. So, I'm curious if anyone has done any hard core analysis recently. THANKS!
Thanks for all of the informative responses. I went ahead and applied for the Premier card. My guess is that it'll be worth it because of the: 50,000 point bonus and the avoidance of foreign transaction fees. If I get a few extra points in the bargain, so be it. (Travelling with the kids, we always seem able to burn as many points as I can earn.) I guess that my next decision will be whether - or for how long - to keep my existing Chase Marriott VISA when I get the new one...
-- Edited by SSinDC at Sep 22, 2011 5:18 AM PDT
It depends on what you're after, after all:
If you want points you'll get five per dollar spent at a Marriott.
If you want extra elite qualifying nights, a current promotion allows you get one per $3K spent. (this promotion might be temporary so check back after the beginning of the year).
For many of us the substantial annual fee is a pain to pay since there are other cards with no or lower fees. And raising the fee this year did little to help. Perhaps if they had grandfathered us with longer time with them I'd be happier. It is going to be heftier for the time being with no assurance that it won't be raised again in coming years.
In my case, not necessarily needing that many extra points or more nights (I am a Platinum Lifetime Elite), I am seriously considering using my other card, the USAA branded master card, with no annual fee for my travel needs.
There is a tipping point and Chase has apparently found it for me.
I definitely favor the Premier VISA card. Not only do you get the 5 pts per dollar spent at Marriotts (which really adds up), but also 2 pts for restaurants and 1 pt for everything else (as well as the qualifying night for every $3K spent). For a few extra dollars a year, it's well worth it to me.
Yes - the uptick in annual fee did not please me very much, but it is still a great deal. I created a post on 07/07/11 How I Made My Last 1M Points and out of the 1M points earned, nearly 30% was from Visa Premier card. That's a ton of points in relationship to the annual fee.
THANKS for the responses. I'll probably upgrade my VISA....
I'm sold on the Chase VISA - warts and all. Just as I'm now intensely (arguably irrationally) loyal to Marriott. I say this because I'm often surprised and disappointed by the negativity of so many of those posting on this site.
Sure, I'm on the road a lot. I appreciate room upgrades, free internet, and good food (particularly the fresh fruit and desserts) in the concierge lounge. But - in the end - year after year of 100,000+ points earned through the VISA card have trained my boys (and my family) to expect that it's normal to travel to fabulous places and stay in wonderful hotels (that we couldn't otherwise afford) for free.... Family vacations in Barcelona, Berlin, Boston, Hong Kong, Paris, London - often two rooms, typically 5 nights or more - have earned my loyalty - both to Marriott and Chase.
I posted on this previously, but we're still giddy that, this summer, we enjoyed two (extraordinary) rooms in the (outrageous, landmark) Ritz Carlton Hotel Arts in Barcelona, for 5 nights, for, well FREE. That kind of value helps me tolerate a fair number of imperfections at this large, diverse hotel chain's various properties. Nobody is perfect, and managing people is hard. So, from my perspective, the mis-steps remain minor inconveniences....
One minor point: I don't want to veer too far off course here, but I was fascinated by the Stepping Stones response, particularly about the USAA Master Card. (I haven't used my USAA Master Card for years, and I'm thinking of discontinuing it.) I continue to find the "value" of points for free stays (in the Marriott family) for family travel far outweighs cash rebates or airline miles.
Other than a minor FICO score drop there's no downside to canceling any credit card. As for USAA I agree that the program is less than stellar but the service (as with all USAA products) is great. GFood luck with the new Chase card and here's hoping that the terms and condiare not altered in the new year!
Rather than cancelling the card you don't want to use any more I would suggest cutting it up and monitoring it online every so often (unless there is a significant annual fee). As SteppingStones said, depending on your overall credit, cancelling a card can give your FICO score a hit. And in the current economy, depending on each person's circumstances, that could be important.
Yes Professor, FICO rules a lot of things. The Fair-Isaac's (inventor of the FICO program) folks have a long history of analyzing people's credit and spending and cancelling a card amounts to a negative for them. For credit monitoring there are plenty of pay as you go services (I used the Equifax triple advantage program but there are others).
One last comment: choosing a credit cards can be daunting and should be tailored to the user. For some folks that means that the Platinum American Express is the way to go, for others it's the no-frills ons.
All of you who travel for business and can use your personal Visa cards to pay for these business expenses are vey lucky. I have to use my corporate AMEX card to pay for business expenses. Thus, I lose out on all of the bonus point programs for stays, that I can easily fulfill.
If I could use my pesonal VISA card, I'd have a few hundred thousand more points in my account!
Yes, I joined the Corporate Amex Rewards program. I only earn one point for each dollar charged, but I can choose to redeem the points for about 15 different airlines, various hotels, merrchandise, etc. I cashed in points over the summer to go on vacation to PR, so our flights were free. Couple that with Marriott Reward points and our hotel for the week was free as well. That's what I call an inexpensive vacation!
Update: So I've now received an email telling me that my application for a PREMIER Marriott Rewards VISA card was approved.
Now I'm just hoping it arrives in the mail before my trip to Asia in a few weeks. I think the extra points (66 percent more?) per dollar will be nice, but my primary justification for the card is the avoidance of foreign exchange fees.
I'm marginally amused that, on my new PREMIER Marriott Rewards VISA card, CHASE gave me a credit limit of only 66 percent of the amount that I currently have on my MR VISA. Who knows? Maybe if and when I cancel my existing MR CHASE VISA cards, they'll increase my credit limit. I don't see any benefit in keeping both (particularly since they both have annual fees).
Ive had the Chase Premier Card for about 9 Months. Ive found it to be a great VISA card. The 50K points showed up immediately, and a few months when my bills were over 12K I was credited for extra nights. I achieved Gold this year relatively easy between stays and charges. In terms of credit cards, the only card which pays the most in Cash Back is the American Express Cash Rewards Card. The cash back is significantly higher than any points earned on the Marriott Visa card with 2 exceptions. The Marriott Visa Card pays many more points per dollar spent when you use it on Marriott hotels of course. The Marriott card also pays double or more points on charges with airlines and restaurants. So in summary, I use the Amex cash rewards card for all purchases, and use the marriott card for travel/dinner related expenses and this has proven to be most beneficial to me.
I signed up and was able to get the 70k offer by sending a SM to chase. Totally worth it for me. the $85 is more than paid for if you can find a hotel to use your e-cert with. Plus the little bit extra you get when staying at a marriott and paying with the card adds up quick.
im very happy with the card. Since i dont have a card yet for restaurants, i use this primarily for restaurants and amex for general spend. Also frequent a popular bar thats part of the san jose marriott which gives me 5pnts/$ ^_^ Im hoping to go on an app spree once my inquiries fall of early next year. the certificate is also well worth the AF which chase can re issue if you cannot use it within the time frame and makes it pretty much available for a whole 12 months.
its tough deciding which one. I have my eye on Discover It now that it is more widely accepted with its 5% cash back and no AF. Most of the other cards offer 2x points or 2% unless they have an AF. Also had the IGH in mind just as a sock drawer card and pocket the free night, it has low AF, high sign up bonus and also 2x on gas and groceries
I use mine all the time and yes, it is worth it. When I travel out of the country no foreign exchange fees. More points. Especially when I am eating out I use it at the Marriott Rewards Shopping Mall all the time and earn points there too. I order everything on line through that mall that I can.
I have the regular business card now and plan on switching to the new premier.
I have three accounts. Regular, premier and business.
No. You cannot keep all three and get nights for each one.
The Premier Visa if you have it gives you automatic silver status I believe for the year.
I have the business and the regular. I only keep the other two for more credit. Just in case I need them.
I have the regular business card and I only keep that because I have multiple users. You can add multiple users on the Premier card but last time I checked it does not break out the spending for each person.
They ow have the Premiere Business Card too.
Make sure you read the benefits of the card and save the information too.
When I rent a car I never get extra insurance. Between my regular insurance and using the Marriott card with Hertz I don't need to tack on all the stuff they try to hit you with.
Read the brochures. Many people don't and they don't have any clue of what other benefits come with the card.
The extra nights for every 3000.00 spent has helped me get and keep platinum level. I have given one to each of my children to use and I get the extra points when they stay at Marriott properties. I share the points and everyone is happy. Great deal. I have enjoyed this for several years now.