Update: This offer for the Citi Prestige® Card has expired. Learn more about the current offers here.
As I first posted about a few days ago, there are rumors of Chase introducing a new premium credit card intended to compete with The Platinum Card® from American Express and the Citi Prestige Card. While Amex, Chase, and Citi, typically compete head-to-head, oddly Chase is the only issuer that doesn’t have a ~$450 per year premium card.
While Chase hasn’t officially announced anything yet, rumor has it that this new card will be launched on August 21, 2016, and could offer a sign-up bonus of 100,000 Ultimate Rewards points upon completing minimum spend.
Well, FlyerTalk member mvcore, who was the original person who shared the rumored details of the Chase Sapphire Reserve Card, is now back with more details. Here’s what s/he claims to know about the card:
- $450.00 Annual Fee
- 100K UR Sign up Bonus
- $300.00 Airline Credit
- Priority Pass Select
- 3X Points Travel
- 3X Points Dining (Yes 3X for Dining)
- Visa Infinite
There are also apparently some other perks we don’t yet know about.
Last time the speculation was that the annual fee would be $300-400, which I pointed out seemed weird, since the American Express and Citi products both have $450 annual fees. So I’m not surprised to see the annual fee being what it is.
The $300 annual airline credit is $50 more than the airline credit on the Citi Prestige Card, and $100 more than the airline credit on The Platinum Card® from American Express. So if you value that at close to face value, it means the real “out of pocket” on the card is $150 per year.
A Priority Pass membership is a pretty standard benefit for premium cards, though the terms of the membership vary by card. The Citi Prestige Card allows you to take two guests with you into lounges for free, while The Platinum Card® from American Express charges for additional guests.
Plaza Premium Lounge London Heathrow, a member of Priority Pass
The triple points on dining and travel would make this the most compelling premium credit card for everyday spend:
- The Citi Prestige Card offers triple points on airfare and hotels, and double points on dining and entertainment
- The Platinum Card® from American Express offers one point per dollar spent, plus 5X points per dollar spent on airfare
It’s also worth noting that Visa Infinite cards come with 12 free Gogo wifi passes per year as a standard benefit, which is a nice added perk on top of all of the above.
As a starting point, this sounds like a pretty compelling card, especially given that it’s rumored to have a 100,000 point sign-up bonus.
The way I do mental accounting on annual fees, the real “out of pocket” on this card is $150 per year, given the $450 annual fee and $300 airline credit. That means this card would “cost” me $55 more per year than the Chase Sapphire Preferred. That could easily be wroth it for the triple points on dining and travel alone.
What do you make of the rumored benefits of the Chase Sapphire Reserve Card? What other benefits would you like to see?
Let me emphasize once again that these are all just rumors at this point, so we’ll have to wait till the card’s rumored launch date to find out more.