Update: This offer for the Citi Prestige® Card has expired. Learn more about the current offers here.
Update: This offer for the Chase Sapphire Reserve® is expired. Learn more about the current offers here.
In late July I first posted about the rumored card that Chase is planning on introducing this month, called the Chase Sapphire Reserve Card. This is intended to be a premium credit card that will compete with the likes of The Platinum Card® from American Express and the Citi Prestige Card.
Applications for the Chase Sapphire Reserve are supposed to be available online tomorrow, August 22, 2016, though the benefits guide of the Sapphire Reserve Card is now online.
This page should answer a vast majority of the questions you could have about the card, including travel benefits, service, rewards, purchase benefits, and account protection.
The details of the card look mostly as we expected, and the most important details include the following:
- Chase Sapphire Reserve welcome bonus: 100,000 Ultimate Rewards points after spending $4,000 within three months
- Chase Sapphire Reserve annual fee: $450
- Chase Sapphire Reserved bonus categories: 3x points on travel and dining purchases worldwide (50% better than the 2x points offered on those categories with the Chase Sapphire Preferred® Card
- Chase Sapphire Reserve $300 annual travel credit: this credit can be applied towards any purchase coded as travel, including a hotel, taxi, airfare, etc., making this the best travel credit offered by any card
- The Chase Sapphire Reserve will come with a Priority Pass Select membership, though we don’t know if it will come with guesting privileges like the Citi Prestige Card
- The Chase Sapphire Reserve will come with a $100 Global Entry fee credit
- Points earned on the Sapphire Reserve Card can be redeemed for 1.5 cents each towards travel through the Ultimate Rewards website, rather than the 1.25 cents per point offered on the Chase Sapphire Preferred® Card
- The Chase Sapphire Reserve will be a Visa Infinite
This card is beyond a no brainer, possibly the most compelling card we’ve ever seen. The 100,000 point welcome bonus is huge, and beyond that, the card offers a $300 annual travel credit that helps offset the $450 annual fee, especially since the travel credit is based on calendar years, while the annual fee is based on cardmember years. So you’ll get $600 in travel credits before your $450 annual fee is due.
If you’ve been wondering about any of the terms of the card benefits, check out the benefits page now. I’ll post again tomorrow when the applications go live.
Perhaps the biggest remaining question is whether this card will be impacted by Chase’s “5/24 rule.” You can only be approved for many Chase cards if you haven’t applied for more than five credit cards in the past 24 months. This doesn’t impact a vast majority of consumers, though I know among miles & points people it’s much more common for that to be a factor.
I would guess the restriction would be in place, given that it applies to other cards earning Ultimate Rewards points, like the Chase Sapphire Preferred® Card and Ink Business Preferred℠ Credit Card. On the other hand, perhaps they’re really wanting to push this card, and will approve those who have had more applications as well. The Sapphire Reserve application accidentally leaked last week for a few hours, and many people were approved, including people who reported having applied for more than five cards in the past 24 months. What we’re not sure of yet is if that was an error or intentional.
Are you planning on applying for the Chase Sapphire Reserve Card?
Non-Affiliate Product Disclaimer: The information for the Chase Sapphire Reserve has been collected independently by One Mile at a Time. The card details on this page have not been reviewed or provided by the card issuer.