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A few months ago I got the Chase Fairmont card when I found out that Chase had pulled the public application links (SEE: Jumping on the Chase Fairmont Visa before it’s gone!). A couple of other links were still active, so I was able to still get approved.
Besides the free 2 nights from the sign up bonus and the other certificates from Fairmont which allowed us to have a wonderful vacation in Banff (SEE: How We Stayed at the Fairmont Banff Springs for 3 Nights for $99.18), I was hoping that obtaining the Fairmont card would be a back door to a Chase Freedom Unlimited. Neither my wife nor I have this card, and we cannot get it due to the Chase 5/24 rule.
Fairmont card being product changed
Today I received a letter from Chase spelling out the future of the Fairmont card. As of August 15, my Fairmont card will be converted to a Chase Sapphire Preferred card! While this isn’t exactly what I wanted, I’m sure I’ll be able to product change the CSP into a Chase Freedom Unlimited. So I’m still quite happy.
If for some reason I cannot product change my new CSP right away, I’ll simply have my wife change hers to a Freedom Unlimited. Easy peasy.
Details on the account change
The letter from Chase explained the changes that will happen come August 15. Specifically:
- Account pricing will not change (simple, because the Fairmont annual fee is the same as the CSP)
- Fairmont points will accrue like normal on statements closing up until August 15, 2017
- On August 15, unredeemed points will be transferred to the new Sapphire Preferred account (assuming at a 1:1 ratio to Ultimate Rewards)
- The complimentary night will still be offered if you spend $12,000 on the Fairmont card before August 14. The certificate will be good for one year from issue.
- If you don’t have 12 months to earn the complimentary night, Chase will issue it if you hit $6,000 in spend before August 14. This is a one time courtesy. It will be deposited within 6-8 weeks, but only good through February 28, 2018.
The last point is interesting. I should fall into that category since I won’t have a full 12 months to earn the annual free night. Since I already spent over $3,000 for the initial card sign up bonus, I only need to spend another $3,000 to get a free night at a Fairmont. I even have a room upgrade certificate still. This might come in handy for a trip to San Francisco!
It’s also nice that Chase is transferring the points to Ultimate Rewards rather than simply cashing them out at $0.01 per point or something like that.
What about you: do you have the Fairmont card and are you excited that it’s being changed to a Chase Sapphire Preferred?