Keep vs. Cancel: Chase Sapphire Preferred

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When I see a $95 charge on my Chase account, I already know it is an annual fee. This time it is for the Chase Sapphire Preferred. The card is useless for me. Let’s look at the major perks:

  1. $50 hotel credit: Clever but it still leaves me $45 short of rationalizing the fee.
  2. 3X dining: I receive this on my Chase Freedom Flex.
  3. Car Insurance: I have this on my Chase Ink Preferred.

I called to see if there was a retention offer. There was not. Seconds later the card was closed. When I first started in the points game, this card was coveted. I now find it useless, apart from the initial sign-up bonus (see Chase Sapphire Approved!).

Points were transferred out.

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