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The new Ritz-Carlton Rewards® Credit Card is a Visa Infinite card, a higher tier than the Visa Signature that nearly all other premium rewards cards top out at.
In addition to Gold Elite status (which is honored at Marriott hotels, comes complimentary the first year and that you retain each year you spend $10,000 on the card); a $300 Airline Fee credit, $100 Global Entry credit, and unlimited use $100 Airline Ticket discounts when buying for 2 or more passengers; 3 complimentary upgrades to The Ritz-Carlton Club® Level each year valid on paid stays of up to seven nights (here’s how to use them); plus airport lounge access and a premium concierge, the card gives you:
- A great signup bonus of 3 complimentary nights at any participating Tier 1-4 Ritz-Carlton hotel after $5,000 spend on purchases in your first 3 months from account opening.
Ritz-Carlton Laguna Niguel, Credit: Ritz-Carlton
Here’s a recap of what I’ve received in exchange for my hard earned $450:
3 complimentary nights at the Ritz-Carlton Georgetown (~$1600 value)
$200 in airfare discounts
$300 in airline incidentals (first class upgrades)
10,000 Marriott Rewards points (valued at ~$100)
Additional $300 in airline incidentals coming next week (2017)
That is $2,500 in “value” from carrying the card for just a few months. While this is the cash value, these aren’t the prices I would personally pay.
He wasn’t blown away by the Georgetown Ritz-Carlton, so knocks that down just a bit and talks about whether first class upgrades are really worth it. It’s important to figure out what something is worth to you, not just what its price is.
But think of the annual fee as Groupon. You’re paying some amount, and getting a much bigger value in return. Like the best way into Ritz-Carlton club lounges, Priority Pass airport lounge access even for authorized users.
Ritz-Carlton Los Angeles Club, credit: Ritz-Carlton
And of course for this card 5/24 doesn’t appear to be enforced. Chase seems to be welcoming cardmembers that have opened plenty of new card accounts. Plenty of reader data points, and reports elsewhere, suggest that Chase doesn’t impose restrictions on getting this card like they are with many of their other cards: customers haven’t been reporting being denied for too many new cards in the last 24 months.
You’re eligible for the signup bonus if you are not a current cardholder, and you haven’t received a bonus from this card in the past 24 months. If you’re over ‘5/24’ this is a no brainer card to get.