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This Card Is Disappearing for Good!

This Card Is Disappearing for Good!

Million Mile SecretsThis Card Is Disappearing for Good!Million Mile Secrets Team

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Big changes are coming if you’re a Chase Fairmont cardmember!

Via reader IAD Gr8, Chase is converting the Fairmont credit card to the Chase Sapphire Preferred on August 15, 2017!

Chase stopped accepting new applications for the card earlier this year.  But plenty of folks still have the card!

This Card Is Disappearing For Good
You Can No Longer Apply for the Chase Fairmont Card – and Folks Who Already Have It Will Soon Receive a Chase Sapphire Preferred Replacement!

I’ll share what we know!  And help you decide what to do.

Chase Fairmont Converting to Chase Sapphire Preferred

Link:   Chase Letter to Fairmont Cardholders

Chase discontinued the Fairmont card back in January 2017.  And now, on August 15, 2017, Chase will convert existing Fairmont credit cards to the Chase Sapphire Preferred!

Here’s what you need to know:

  • Points earned up to your last statement prior to August 15, 2017, will continue to deposit into Fairmont’s rewards program.  Points earned after that statement will convert into Chase Ultimate Rewards points
  • You can redeem Fairmont points until August 15, 2017
  • Cardmembers who spend $12,000 in their current cardmember year will still receive a free Fairmont hotel night on their cardmember anniversary, or within 10 weeks after August 15, 2017, whichever is sooner

Because Chase is ending the card on August 15, 2017, many folks will NOT have a full year to spend $12,000 to receive their free night.  So Chase is giving them a complimentary Fairmont night (good through February 28, 2017) for spending $6,000 on the Chase Fairmont card.

Note:   The Fairmont elite status that comes with the Chase Fairmont card will likely last until 2018.

Team member Joseph has kept his Chase Fairmont because each year he’s received Fairmont certificates, like a free room upgrade, free suite upgrade, and free 3rd night.  So he’s sad to see it go.

What Should Chase Fairmont Cardholders Do?

Most folks in this hobby already have the Chase Sapphire Preferred.  So Chase Fairmont cardholders will probably NOT get a lot of use out of this conversion.

If this will be your second Chase Sapphire Preferred, I recommend downgrading it to a Chase Freedom or Chase Freedom Unlimited.  That way you won’t have to pay an annual fee.  And these cards can be a powerful combination with the Chase Sapphire Preferred.

The Chase Freedom has generous rotating quarterly bonus categories.  You can earn 5 Chase Ultimate Rewards points (5% cash back) per $1 spent on up to $1,500 in combined spending.  And the Chase Freedom Unlimited earns 1.5 Chase Ultimate Rewards points per $1 on everything.

This Card Is Disappearing For Good
You’ll Get 5 Chase Ultimate Rewards Points per $1 Between July and September When You Use Your Chase Freedom at Restaurants

I do NOT recommend upgrading a second Chase Sapphire Preferred to a Chase Sapphire Reserve, because there is no benefit to having both cards at the same time.  You should only have one or the other to avoid paying an unnecessary annual fee.

Note:   If you missed out on the Chase Fairmont card, there are still plenty of other Chase hotel cards that can give you Big Travel with Small Money, like:

Bottom Line

Chase is eliminating the Chase Fairmont card and converting it to the Chase Sapphire Preferred for all current cardholders.

I recommend downgrading the card if you already have the Chase Sapphire Preferred.

What do you plan to do after Chase replaces your Fairmont card?

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Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel.
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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Now I officially have 2 Sapphire Preferred cards. Now I mated I have to have the card for a year before I can downgrade. Is there any big problem with my downgrading my older card since it has been open 2 years?

What would happen if you complete the $6000 in spending by August 15, but your annual fee is charged around Sept 1 and cancel the card to avoid the fee, will the free night still be credited to my account?

I had received an offer on a Chase Marriott card without any wording on 5/24 or anything that made me think it would be a bad idea to apply (been about four years since I had a Marriott card). So, I applied hoping to switch over to Marriott instead of Sapphire (since I have one). Turned down because of too many applications (probably the 5/24 rule kicking in), but mentioned on the reconsideration line about the Fairmont card going away and I wanted to switch over to Marriott since I do not need another Sapphire (and I have a Freedom card). Reconsideration person thought that was a good idea and sent me over to another person to talk to and they were 100% dialed in on the Sapphire card and that there were no other options, even if you already have one. Said if I do not want a second one, then I can cancel the second one when it switches over. May try to call and chat with someone else. Not impressed with Chase here- have had my Fairmont card for years and really did not want it to go away. Think they should be more flexible since I am not the one cancelling it.

I called Chase and was told it was not possible to switch to Chase Freedom Unlimited. Has anyone successfully does this?

It’s good news for those of us who got blindsided by the 5/24 rule without a CSP in our wallets. Your description of how Fairmont points will be handled is unclear. Here’s what it says in the letter. “You’ll continue to earn points on purchases that post to your last statement before August 15. You’ll have until then to redeem points through the current Fairmont rewards program. Any unredeemed points will transfer to your Sapphire Preferred account.”

I’m pretty sure that means that all unredeemed Fairmont points will become Ultimate Reward points no matter when they were earned. This is great news, since Fairmont points are pretty much useless. I’ve never redeemed any of mine. People get this card for the free nights and certificates, not for the points.

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