Chase Sapphire Reserve $100 Renewal Credit Ending

Chase Sapphire Reserve $100 Renewal Credit Ending

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Credit card issuers have been making all kinds of adjustments to their cards in light of the coronavirus pandemic, some temporary, and some permanent.

Since the start of the pandemic, Chase has been offering a reduced annual fee on the Sapphire Reserve for existing cardmembers. While this is ongoing, we now know when this policy is expected to change.

Sapphire Reserve $100 renewal statement credit

The Chase Sapphire Reserve® Card (review) is one of the most popular premium credit cards out there, and it offers all kinds of great travel perks. This includes 3x points on dining and travel, a Priority Pass membership, and much more. Suffice to say that during the peak of the pandemic, many people didn’t get value out of some of those perks, given how travel focused they are.

In light of that, since April 2020, Chase has been offering a $100 statement credit towards the annual fee for those renewing their card. In other words, this coincides with when the annual fee is due on the Chase Sapphire Reserve.

This has been an unofficial policy, but not for much longer, as reported by Chris Dong. For those who had the Chase Sapphire Reserve before January 12, 2020, a $100 renewal credit will continue to be applied through July 2021. As of August 1, 2021, that credit will no longer apply, and the standard $550 Chase Sapphire Reserve annual fee will kick in, with no credits.

From Chase’s perspective this $100 discount has been smart — that way people have been more likely to renew the card, rather than canceling it. However, with life slowly returning back to normal in the United States, clearly Chase thinks this is no longer necessary.

The Sapphire Reserve lounge access perk isn’t worth much right now

Sapphire Reserve annual fee increased in 2020

Chase increased the annual fee on the Sapphire Reserve by $100 in early 2020, from $450 to $550. In retrospect the timing of that wasn’t ideal, so by offering this $100 credit, Chase has essentially postponed the annual fee hike for existing customers.

In addition to this, we’ve seen Chase introduce all kinds of great limited-time perks, including:

I’ve gotten value out of the Lyft Pink perk

Bottom line

The Chase Sapphire Reserve has been offering a $100 credit upon account renewal for existing cardmembers. This policy will be ending as of August 2021, as Chase will start charging the standard $550 annual fee on account renewal.

For the past year I’ve certainly gotten outsized value with the card — I’ve used the $300 travel credit, I’ve used the $60 DoorDash credit, I’ve gotten significant value from my Lyft Pink membership, and earning 10x Ultimate Rewards points with Lyft is the icing on the cake.

Whether that continues to be the case remains to be seen, though we do know some changes are coming to the Sapphire Reserve soon.

Have you benefited from the $100 statement credit on renewal with the Sapphire Reserve?

Conversations (59)
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  1. iamhere Guest

    People are not considering the 50% bonus that Chase gives. This could really add up much more than the difference in the benefits that you get which discount the annual fee, especially if you are using other cards in the ecosystem and moving the points over.

  2. Robert Guest

    I downgraded to a Freedom card yesterday, before seeing any of this. Can't pass up the CSP at 100k points plus 20k for my wife's referral. Now I'm even more glad I downgraded, honestly the National car status was one of the few things that mattered anymore to me on the card. And such a shame since it was a primary spend target for many years...

  3. madgoat New Member

    My AF is due in October and I will be downgrading assuming new benefits that justify the AF aren't announced. I am both outside the 48 month bonus window and under 5/24 so I intend to downgrade to a Freedom Flex and open a CSP new for the 100k bonus and better AF/benefit ratio presently on that card.

  4. HinAT Guest

    I think this going to make renewal a lot trickier for me. I’m up in October. If DoorDash and Lyft pink were just temporary benefits (I activated Lyft pink in Jan 2020 so got almost no value from it during the last 18 months), then all we are seeing is a fee increase without any improvements in benefits. The peloton benefit is super niche and not something I use.

    If the DoorDash credits get extended, it may swing me towards renewal. Without it, I may look elsewhere.

  5. Tom Guest

    I signed up for this when it hit the market. I’ll be downgrading to something without an annual fee when this kicks in. No longer worth it. Good luck selling this dog.

  6. Gray Guest

    Honestly, the new benefits have mostly been 'meh'. Peloton is beyond useless to me. DoorDash is useful, yes. Lyft...honestly, I've abandoned rideshare services alongside public transit for the duration. And several of the rumored "improvements" are just about useless (I'm hard-pressed to think of when I've ever even /looked/ at the Chase portal since those bookings don't generally map to the hotel program).

    Fortunately, my next AF isn't until next year, so I can make...

    Honestly, the new benefits have mostly been 'meh'. Peloton is beyond useless to me. DoorDash is useful, yes. Lyft...honestly, I've abandoned rideshare services alongside public transit for the duration. And several of the rumored "improvements" are just about useless (I'm hard-pressed to think of when I've ever even /looked/ at the Chase portal since those bookings don't generally map to the hotel program).

    Fortunately, my next AF isn't until next year, so I can make a decision closer in.

  7. AdamH Guest

    They really need to do another year of Lyft Pink in my book.

  8. Bob Guest

    There had better be something worth it coming to the csr. Like most early csr adopters they probably have used the doordash credits, lyft pink has expired so the renewal at $550 leaves me wondering what the card is giving me at a price of $250 and don't tell me peloton.

    At $150 I can almost justify it but I already have other cards that cover priority pass and global entry so this card is a little bit lacking.

  9. miamiorbust Guest

    I'm hopeful this signals new benefits for CSR are coming. I still travel regularly and have significant hotel and restaurant charges. Definitely less than prior years but enough to make return on spend and ease of use from UR points a no brainer. Would love to see Chase refresh CSR as truly premium card targeting a smaller market segments. Sign up bonuses are nice but they are a small part of my total return on...

    I'm hopeful this signals new benefits for CSR are coming. I still travel regularly and have significant hotel and restaurant charges. Definitely less than prior years but enough to make return on spend and ease of use from UR points a no brainer. Would love to see Chase refresh CSR as truly premium card targeting a smaller market segments. Sign up bonuses are nice but they are a small part of my total return on cards and $100 difference in annual fee has zero impact on my decision on whether to renew. Don't necessarily want to pay higher annual fee but would happily do so for differentiated redemption opportunities (even with no change in return on spend). Just give me a quality redemption partner that I'm excited to use and cannot get through another avenue and CSR will keep my business.

  10. Ed Guest

    This will just invite churners as it is a better deal the just rack up the points on the Chase Unlimited card, then open a CSP, grab the bonus, combine the points and book the flight or hotel with points. Afterwards, close the CSP. Rinse, repeat.
    Nobody in their right mind is forking $550 for a 3x multiplier and temporary benefits. Churning = winning, Paying AF every year = losing.

  11. Gabe Guest

    It will be interesting to see if Chase brings back the DoorDash credit and the free Lyft Pink membership. If not those incentives, perhaps others that cardholders find of value.

    Hopefully Chase does not do not TPG guesses includes having to book via the Chase portal for travel in order to get an incentive. Booking through the portal, like any OTA, cancels one’s hotel status. Also, I have found the portal to be at...

    It will be interesting to see if Chase brings back the DoorDash credit and the free Lyft Pink membership. If not those incentives, perhaps others that cardholders find of value.

    Hopefully Chase does not do not TPG guesses includes having to book via the Chase portal for travel in order to get an incentive. Booking through the portal, like any OTA, cancels one’s hotel status. Also, I have found the portal to be at times more expensive than booking directly with an airline.

    I truly hope they don’t do what Amex has done with the Platinum card by offering a ton of perks that most people either don’t have access to or don’t find value in (e.g. Equinox gym credit, NYT credit, Paramount+ credit, etc.).

  12. Ole Guest

    I’ll be downgrading unless they offer better rewards with the fee increase which I highly doubt. Not worth the $250 yearly fee.

  13. snic Diamond

    @Jan - The CSP is not at all useless if you combine it with the Freedom Unlimited. For $95/year, your get the ability to transfer the 1.5x points from the FU to airlines. That's more reasonable than $150/year ($450 minus $300 in travel/dining credits).

  14. Jan Guest

    Funny how people are ragging on this card for "not being worth" it, only to downgrade to an even more useless card in the CSP.

    But as another data point, my AF hit this month at $450. Will keep for another year, accumulating UR.

  15. pez Member

    I downgraded mine in to Preferred the fall, with no regrets whatsoever. I would get almost no value out of the card now, and in fact I'm using my Chase Freedom Unlimited almost exclusively at the moment. It would be nice if, post-pandemic, they'd offer a discount on the AF to lure me back.

  16. dee Member

    $$550-- not worth it plat amex gives u much more benefits

  17. LovetoFly Guest

    I think this is the year I have to cancel as I am getting zero benefit from this card. I don't use Lyft or door dash...I have my own car and most places I order from have their own delivery drivers. I don't foresee travel bouncing back anytime soon, but if it does most of my other cards have similar benefits as the CSR.

  18. Alex Guest

    Where exactly you are using Doordash and Lyft in Germany? Can't even login to Doordash website outside of US.

  19. CF Frost Guest

    This card is not trying nearly as hard as my Amex Platinum to build my loyalty. It might be time to retire it.

  20. Trey Guest

    Mine just renewed last week at $450. I was considering cancelling at $550. It lives to stay in my wallet another year!

  21. snic Diamond

    My AF also hit this month at $450 +$75 for an authorized user. I didn't get a message (although it could have been tossed in the trash).

    I've found that I just don't use this card very much anymore, so I'm going to cancel it as soon as I rack up $300 in grocery and gas spending (which I forgot to start doing on Jan. 1). Even pre-covid, this card didn't get me that many...

    My AF also hit this month at $450 +$75 for an authorized user. I didn't get a message (although it could have been tossed in the trash).

    I've found that I just don't use this card very much anymore, so I'm going to cancel it as soon as I rack up $300 in grocery and gas spending (which I forgot to start doing on Jan. 1). Even pre-covid, this card didn't get me that many extra points over the CSP. Access to Priority Pass lounges and restaurants was nice, but not really worth $225/year.

  22. Andrew Guest

    I’m finding this card harder and harder to keep. The priority pass restaurants would be the big reason at this point. I might keep for one more year at $450, but for $550 it’s tough. I do love the new Lyft and Doordash benefits though.

  23. Tom Guest

    I rang to cancel mine last week believing it would be $550 to renew. I specifically gave the $550 as the reason for my cancellation. I was not offered a $100 credit, but I probably would have still cancelled as you cannot get proper value with so little travel going on.

    Funnily enough I still got my new Priority Pass card in the mail!

  24. Steve New Member

    @Lins you must be new here...

    Ben just to confirm my AF hit on February 1 and was $450 as confirmed to me when I called in to try to get a retention offer. Glad Chase kept this going.

  25. Lins Guest

    Maybe this site should be rebranded One Credit Card at a Time?
    I mean this genuinely.

    Under the current circumstances, with limited travel options for most, this could be a positive option.
    Keep on focusing on credit cards and the possible travel benefits of said card/points when true travel is possible again.

    The credit cards you promote only seem to benefit the American market. You may even reach a larger audience?
    Flip your focus completely.

    Stay well

  26. Indy Member

    Could you let us know when an article of substance is posted? 4 days of recycled old credit card reviews is boring. Need to juice up the commissions?

  27. Josh Guest

    @Lucky - My Delta Reserve AF just hit today, and it was only $450 instead of the expected $550. Amex sent no communication about it - they just did it. Unfortunately, the companion pass expires 5/31/21 and the Sky Club guest passes expire 4/4/21, so I’m not sure how useful these will be - particularly if we have another wave of covid this fall/winter.

  28. J Member

    Words around the office at Amex is indicating a $650 million investment towards a similar annual fee waiver/reimbursement is coming soon

  29. Andrew Brown Guest

    well, it said i would be charged $550 followed by a $100 credit.

    On my bill i was charged $550----yet guess what ----no $100 credit

  30. DaKine Member

    It's on my list to cancel this, andmaybe some others. This is the time marginal businesses get trimmed... and CSR is marginal.

  31. iamhere Gold

    They did not consider additional users on the account which cost $75 each. Compare this to Platinum Amex where additional users cost $150 for 3 (e.g. $50 each if you use all three). I think that there needs to be some additional compensation if you have additional cardmembers because justifying the annual fees for this year is difficult enough, let alone if you have other cardholders on your account.

  32. globetrotter Member

    Can we all unite together, like the Friends cast that demanded and received a huge pay raise, to request $200 AF upon renewal due to half year of shelter at home? We are still waiting to see the rapidly escalating infected cases and deaths in India, Africa and South America. I guess it will be remotely successful because many people always put their self interests above all, especially at the federal level. I know I...

    Can we all unite together, like the Friends cast that demanded and received a huge pay raise, to request $200 AF upon renewal due to half year of shelter at home? We are still waiting to see the rapidly escalating infected cases and deaths in India, Africa and South America. I guess it will be remotely successful because many people always put their self interests above all, especially at the federal level. I know I won't fly anywhere this year, and possibly before 2021 fall, out of abundant precaution. Economic recovery is secondary to victory over pandemic casualties.

  33. Shawn Guest

    I think chase and other Premium card carriers should just credit all cardholders for this year. No questions asked. Even those with later due dates haven’t really been able to use for this year.

    A simple good well gesture would make a difference at least for me. Otherwise I’m canceling it. Have too many premium cards and it’s lost it’s thunder.

  34. JoePro Gold

    If they push it into August, that'll sway me enough to keep it another year.

  35. George Guest

    I got the secure message today for my May 1 annual fee.

  36. Xtina Member

    Thanks for writing about this. I got the message today. Since I have a May 1 renewal, I had planned to cancel my CSR in the next week. I wonder if this is to stop mass canceling, or due to Covid-19? Or both?

    So this is basically a pause on the rate increase for a year?

  37. Bill Member

    My AF was scheduled for 5/1. Got the message today. I was strongly considering downgrading. For the same $450 I’ll put off the decision for another year. My Amex plat gave a $500 statement credit so it’s a good year for holding in another year.

  38. Duane Member

    I just got the message. My renewal is in June.

  39. Donald New Member

    Is it possible that Chase send those out as an April fools' joke :P

  40. Mark Gold

    My understanding is this is just for renewals to July 1. Of course I renew July 20.. I imagine I can get it, but will downgrade if I can't

  41. GoAmtrak Gold

    Ben, any comment on Chase abolishing affiliate commissions? That's got to hurt OMAAT.

  42. Jan Guest

    Looks like Chase got rid of a few weeds. lol

    As for me, I still paid $450 for the year. I've just started to use Doordash, and if this $100 credit makes it to my account, then it would be a good offset from the lost value I'm seeing (less travel - less lounge access). My AF would be fully paid off with just credits

  43. steve_ Guest

    My fee is due in May and i got the message and the $100. I had no intention of downgrading CSR like im going to with my platinum so i am very appreciative of the credit.

  44. Bill Guest

    My annual fee was due to be charged today, but I downgraded to the regular sapphire on Monday. FML. I would have kept the reserve @ $450 too! And to pour some more hurt on, I even got the same secured message this morning, even though my account reflects the new card.

  45. CF Frost Guest

    Good move by Chase to avoid a huge wave of card cancellations by consumers. Will it be enough? The market and appetite for premium card fees are quickly shrinking and many people are going to think long and hard about just paying those kinds of fees for a long while. The last $100 increase still left a bad taste.

  46. david Guest

    Just got the message right now. So seems like it is taking them a little bit to communicate to everyone, but we should all probably expect to get it.

  47. Allen Member

    Interesting. My annual fee is due in Sept so no message for me yet, but I was indeed planning a downgrade because of the new higher annual fee in conjunction with significantly reduced travel and restaurant expenses for the foreseeable future. This credit would definitely influence me to keep.

  48. Peter Diamond

    Wish Amex would do this. My Plat annual fee just hit this month...

    I only held onto it because I got a decent retention offer, which of course now I may not hit the spend threshold on since I'm at home and barely spending...

  49. Kate Member

    That’s potentially good news. I sent a secure message to Chase about my Hyatt card, and was refused any accommodation. Decided reluctantly to cancel. Maybe once I’m under 5/24 in a year or so I’ll apply for the world of Hyatt card.

  50. Alonzo Diamond

    Makes sense seeing as you really can't use the benefits of the card at the moment. Tough to use the travel credit or lyft in this environment. If I get the $100 credit, I'd keep the card for another year. $60 doordash credit in 2021 effectively puts the annual fee at $90. I'll downgrade in 2022 to preferred.

  51. JC New Member

    Never received the secure message either. Annual fee due in September. However, I have also not received any change in terms & conditions notifying me that the annual fee is increasing to $550 either, however.

  52. Nik Guest

    My annual fee was charged in March. When I called yesterday, they gave me a $100 statement credit. So I suggest if you have not received the message (I did not), just call them and politely ask for some relief.

  53. Tom Guest

    So basically they are saying you get one more renewal at $450 net? And thereafter it will be $550?

    1. Robert Guest

      You get one more if your AF is due in July...otherwise you're paying $550

  54. Anthony Diamond

    No message for me yet either (fee is due in September)

    Still a potential downgrade for me as I have largely moved on to Amex for dining and Citi for general “travel”. I’m getting more use out of the Freedom cards these days, and Preferred works just as well for transfers to Hyatt.

  55. Gardner Guest

    Might make me keep it. I was definitely downgrading to the Preferred this year due to the increased fee, though mine doesn’t renew until August so I have some time yet. Probably still downgrade but we’ll see how things are looking in a few more months.
    Thanks for the heads up though!

  56. Trey Guest

    Good timing. I was going to downgrade next month but got the message this AM.

  57. Mirp New Member

    No message for me yet. When is your next annual fee due?

Featured Comments Most helpful comments ( as chosen by the OMAAT community ).

The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered.

Ole Guest

I’ll be downgrading unless they offer better rewards with the fee increase which I highly doubt. Not worth the $250 yearly fee.

1
iamhere Guest

People are not considering the 50% bonus that Chase gives. This could really add up much more than the difference in the benefits that you get which discount the annual fee, especially if you are using other cards in the ecosystem and moving the points over.

0
Robert Guest

I downgraded to a Freedom card yesterday, before seeing any of this. Can't pass up the CSP at 100k points plus 20k for my wife's referral. Now I'm even more glad I downgraded, honestly the National car status was one of the few things that mattered anymore to me on the card. And such a shame since it was a primary spend target for many years...

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