Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full Advertising Policy.
Update: One or more card offers in this post are no longer available. Check our Hot Deals for the latest offers.
Big changes are coming if you’re a Chase Fairmont cardmember!
Chase stopped accepting new applications for the card earlier this year. But plenty of folks still have the card!
I’ll share what we know! And help you decide what to do.
Chase Fairmont Converting to Chase Sapphire Preferred
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.
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.
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:
- Chase Hyatt Credit Card (NOT affected by “5/24 rule“)
- Chase IHG (NOT affected by “5/24 rule“)
- Chase Ritz-Carlton (NOT affected by “5/24 rule“)
- Chase Marriott
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?