Chase has officially confirmed — and briefly had up on its website — details of the new Chase Sapphire Reserve Card that’s coming. And it’s going to be awesome.
The card will offer a 100,000 point signup bonus (after $4000 spend within 3 months). Offer expired.
Earning will be 3 points per dollar on all travel and dining.
It has a $450 annual fee, but it also has a $300 travel credit. And you don’t need to use it just for bag fees or other ancillary fees. And there’s no messing around with gift cards to get the best value out of it. It’s an automatic credit against any travel spend — including airline tickets and even hotels.
There will also be a $100 Global Entry credit.
You also get a Priority Pass Select card for airport lounge access. And it’s a Visa Infinite, so comes with top card protections. And that even includes primary collision for rental cars.
Points will transfer to the same airlines and hotels as the Chase Sapphire Preferred Card. In addition, points can be redeemed towards paid travel at 1.5 cents each through the Ultimate Rewards web portal.
I collected the information related to the Chase Sapphire Reserve credit card, it wasn’t provided or reviewed by Chase and I do not have my own links to this card.
This hits all reasons to get and keep a credit card.
- It will have a great signup bonus
- It has fantastic ongoing earning
- It even has strong benefits
It will be a no-brainer to get. With the travel credit, which will be based on calendar year and therefore available twice during the first annual fee year, you can ‘make money’ on the first year fee even aside from the 100,000 point signup bonus that you can earn.
If the travel credit was just a fee credit, I’d argue that the annual fee was too high to justify 3 points per dollar on travel and dining versus 2. And Priority Pass Select comes bundled with many cards, although if you didn’t already have one it would be worth some portion of the fee.
But since the travel credit will be so broad, use it on travel you’d buy anyway, the fee makes sense and the ongoing earning is strong like the bonus.
There was a brief period of time yesterday where the application for the card went live before intended. Plenty of data points suggest that people were being approved without regard to the number of new card accounts they’ve opened over the past two years. That would suggest you’ll still want to get the Chase Sapphire Preferred Card first and this one after.
Hey Gary,
So if one were to signup say end of Aug and burn the $300 credit and then again in December (once your Dec statement posts) would you be eligible again in 2017 prior to Dec or would you have to wait till end of the year again? Pardon the rookie question!!
Thanks!
Adam
Any insights into whether UR points already accumulated on other Chase cards can be combined with these points, and thereby redeemable for 1.5 cents towards any travel purchase?
Gary – And since it appears to be a Visa Infinite product, would you also be able to get $100 refunded per roundtrip domestic airfare for two people. So if you travel with a significant other/family member and you pay for both tickets, that would further reduce the annual fee down to $50. Seems a no-brainer!
I’m guessing the annual fee will NOT be waived the first year. Does that sound correct?
Would there be any reason to keep the current Sapphire Card after getting the new Reserve Card?
Holy Crap! The Points Guy has 433 comments on this!
@Bob, that benefit is included, but only for r/t domestic flights and your name must be on that reservation . You can use it as many time you want.
Is the Visa Infinite $100 flight credit for 2 round trip domestic tickets a one time credit or can this be used multiple times?
@john,
Quantity does not equal quality.
wow! thanks Gary!
sub
@phil,
You got that right. I mean, its soooo important (and braggadocio) to know the weight differential of the AMEX Centurion vs. Palladium when you’ve been claiming for years both aren’t worth the costs……
They pretty much have to waive the 5/24 rule to get any market penetration on this one. The 5/24 rule does make sense to me (even though I don’t like it). The new signups on any of those cards are going to be those aren’t very well versed in credit and the whole M&P game.
… and those people look at a $450 annual fee card and say “shit, I’d never pay that.”
Who pays that? Those who understand when these cards deliver *value*… which probably has a high correlation to those who churn.
I knew from the first rumours that Chase has to waive the 5/24 rule if they want any serious market penetration.
@Dan, totally 100% agree with you on the 5/24 waiver. The question becomes how long do they waive 5/24 for the card?
@Gary – how dare you post a review about a credit card with no affiliate link? The travel blogs have all gone to pot, I tell you – I remember the days when…
set sarcasm=off
Thanks for the review, Gary. I’ve been holding off on card apps to get the CSP so I’m all set to get the Reserve instead. (When you have one, I’ll be sure to use your link) 😉
Question: Do you know yet if the Priority Pass Select will be the single person kind or will it be like the Citi Prestige version – where a couple of guests are included free?
Will this card be the same substantial metal card as CSP?
@Gary
When the details come out on the Sapphire Reserve, I’d love to see a comparison of the Sapphire Reserve vs. the Sapphire Preferred. Is there any reason to have both cards (and pay both annual fees) if all of the benefits of the Reserve are as good or better than the preferred? If I cancel the Sapphire Preferred, can I first transfer my existing UR point balance to the Reserve card?
@MK – I was wondering the same. The last line of Gary’s post suggests still applying for the CSP now. I can’t see any reason to get that one, other than for a signup bonus, if you’re going to get the Reserve. Except maybe for the 20% bonus on travel through Ultimate Rewards (although I suspect you’ll get that with either card.)
Are your chances any better if you apply by phone or through the internet?
5/24 rule is a tough one and I’ve already been denied for the Hyatt and Freedom Unlimited this year.
@MK I don’t think it will make sense to keep both on an ongoing basis, which one makes sense will depend on how much you spend on travel/dining and whether you already have a Priority Pass card (and if you don’t how much you would use/value it).
@Pat it will be a substantial metal
@OtherDave waiting to find out whether the Priority Pass comes with guests or not…
@jeff upcoming post on that, but the visa infinite cards that offer that offer it as unlimited
@jefft i am quite confident it won’t be in any initial generally-available offer
@David I would think they’d be able to be transferred
@Adam it appears the benefit is based on calendar year when the charge posts not when the statement closes, so an August charge and then a January charge.
SO if one has a sapphire preferred card is this considered a “new card” so one can have both, or will it be an automatic upgrade if one asks?
At 2x on travel & dining, I put my CSP away and started using the new Costco card for 3 cents cash back instead (except for rental cars, I want the primary coverage). But 3x UR points would have me using a Chase card again for those categories. And yeah, the signup bonus looks pretty sweet.
I have the same question as Burt, if I get this card and intend to keep it even past 1 year, is there any reason to also keep the CSP? Are the any benefits or bonus categories CSP offers that this new one doesn’t?
Can you use the 300 credit on taxes and fees for Mileage plus reward tickets?
Does the 3x on travel include gas like the Citi Premier?
Wonder if the credit applied to cruises.
In what order would you apply for the Chase cards you recommend? Would you apply for Chase Sapphire reserve once it is officially available first under assumption it will NOT count against 24/7 rule? Would you then apply next for the Chase Sapphire preferred or the Chase freedom unlimited card?
Could you purchase an $300 airline gift card to generate the $300 annual travel credit? If I get in September, could I get the gift card then and again in January for $600 travel credit?
@BFD, yes, and yes. @Jonathan, personally, I’m well under 5 cards in 2 years so I’ll be applying for the Reserve first. Then I MIGHT apply for the CSP for the signup bonus.
I’m concerned that if I apply for the CSP first, they may deny me the CSR because I already have the P. I don’t really want the CSP, I just want the 50,000 extra miles, so… I’ll risk not getting that one.
How to make sure travel gift card counts for $300 travel credit?
I have not gotten a clear answer to this question. I have no travel plans this year, can I use the $300 credit to buy an airline gift card? If so, can I buy 1-$300, or do you have to buy multiple smaller denominations of gift cards? Do the transactions have to be purchased separately? I expect to be approved and have lots of travel next year to use the credit again! Thank you for explaining this.