Chase Sapphire Reserve Card Benefits Guide Now Available

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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.

Last week Chase confirmed some of the official details of the new 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.

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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.

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The details of the card look mostly as we expected, and the most important details include the following:

  • Chase Sapphire Reserve sign-up 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

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This card is beyond a no brainer, possibly the most compelling card we’ve ever seen. The 100,000 point sign-up 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 Plus® Business 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?


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Regarding Comments: 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.

Comments

  1. Hubby and I will both apply, after the first year and the bonus points we both get we’ll keep one open with the other as AU, no point in paying two annual fees.

  2. Presumably, we’ll be able to merge our UR points from our CSP cards with the points from this card. Does that mean all our UR points will be eligible to be redeemed for travel at 1.5 cents a point through the Chase portal?

  3. @Ben – Many of the other blogs refer to the Chase 5/24 rule as having been approved for a card to count, not just hard pulls. Can you confirm that you believe that any application or hard pull counts towards the 5/24?

  4. If you have a spouse and have 100k UR points from normal usage on the Chase Sapphire card and transfer those points to your spouse who now has the reserve card are they now worth 1.5 cents per point vs. the 1.25 cents? Or if you cancel the card and still have the regular sapphire are they then downgraded to 1.25 cents? Thx.

  5. I’m fairly sure the 5/24 rule is going to be a problem for a lot of points collectors.

    I myself wonder how you would even be able to get the card Ben ? Just counting your credit card application posts over the last year you would be over on Chase’s rules.

  6. Will 100K bonus point last for a while or just one day, like Amex did on Platinum card earlier this year?

  7. I need to find out if Chase Private Client member get any discount or additional benefits. This is better than the Chase Palladium offered to PC members.

  8. I can’t wrap my head around how the $300 travel credit could be profitable for Chase. Other cards with similar credits for “airline incidental fees” such as the AmEx Platinum are very careful to include only items such as premium seats, lounge day passes, and the like. This broader interpretation of what qualifies for reimbursement essentially turns the $450 into a $150 annual fee for the vast majority of cardholders.

    Am I reading this right? If so, it’s a no-brainer.

  9. What to do with CSP if it is one of the older credit accounts I have, as I suspect the case with many others? Can it be downgraded to a no fee card, in effort to retain the credit age? Thanks

  10. @Chris

    5/24 refers to opened accounts, not pulls. Lucky is just using ambiguous language (“applied” should be “opened”)

  11. @ Eric W. — Absolutely, I suspect they’re eating the cost of it, and it’s intended to engage members and make them love the card. Not reading it wrong at all.

  12. @ Darin — Yes, if you transfer the points to another Ultimate Rewards card, the points gain whatever value that new card offers.

  13. @GOB – you can downgrade it to Freedom or Unlimited. or you can move the entire credit line to another card ( freedom, unlimited or CSR ), and the CSP would be closed without impacting your credit score.

  14. Any idea if there will be a referral bonus? Thinking it might make sense to wait for wife to apply after me to capitalize on potential referral bonus. The CSP has a 10,000 point referral bonus. Perhaps this would be higher given the higher annual fee and initial signup bonus?!?

  15. @Ray – while that would prevent being penalized for loss of overall credit (i.e., preserve utilization ratio), if the CSP is your oldest card, wouldn’t it hurt you based on average age of accounts?

  16. I wonder (and hope) if this will be a metal card like the CSP.

    Love the CSP because of that (among other reasons) 🙂

    Good idea to have your spouse also open the card but what is the plan after the 1 year? Close (or downgrade?) or something else? Doesn’t seem it makes sense to keep 2 cards?

    Lastly, I just opened CSP earlier this year for the 50K bonus. Now that I have gotten it, and planning to get the CSR, can I downgrade or close out the CSP? Will I have to forfeit the 50K points if it has already posted to my UR account?

    Thanks the advice guys! Love this site!!

  17. @Nat – It will hurt you in terms of credit history length if CSP is your oldest card. In that case, I would say downgrading your CSP is a better option comparing to closing the account. However I think most people got their freedom cards before or at the same time as CSP, which then it’s safer to move the credit line to another old card that you have.

  18. Does an AU on my recently opened chase account counts towards the 5/24 rule? Im not an AU on any accounts. I also opned freedom unlimited about a month ago. Im at 4 cards if the AU doesnt count..

  19. can someone please do a side by side comparison of the Reserve and the Prestige’s travel protection benefits and limits??

  20. Million Mile Secrets is just now reporting anecdotally from Reddit users that 5/24 is in effect on this card.

  21. With Lucky’s recent unfortunate experience in mind, I was hoping Chase would give better travel insurance with this card than CSP-and they do, slightly, in that the travel delay insurance kicks in after only 6 hours (vs., of course, 3 hours with the Citi Prestige). but Chase unlike Citi, only gives you the non-refundable amounts you’re out of. It does not cover the extra cost you’ll incur, such as if you have to buy an expensive last-minute ticket to fly home.

    For $450, I was hoping for more (speaking as some who rarely if ever needs Chase’s primary car insurance over Citi’s secondary).

  22. @Eric W,: “‘I can’t wrap my head around how the $300 travel credit could be profitable for Chase.”

    It’s profitable because $150 is not zero, and because Chase makes its money from people carrying balances and paying interest, not so much from annual fees. Lucky had a post a while back explaining the likely logic behind $450 annual fees that are then mostly comped back. The long and short of it is that an expensive card attracts wealthy customers, who spend a lot and make money for the bank that way if/when they carry a balance.

  23. Does anyone know what time the link will be available tomorrow (that is if they actually release it tomorrow)?

  24. Is the $300 credit a one shot thing, or can it be reimburse for multiple transactions within the $300 limit?

  25. Haven’t seen anyone mention one of the most significant benefits of this “Reserve” card over the Sapphire Preferred: Not only do you earn 3X points on travel and dining (versus 2X) but you get a 50% bonus when those points are redeemed for travel via the Ultimate Rewards portal (versus 20% on the Preferred card).

    According, such point redemptions effectively earn you 4.5%/dollar spent.

    Just when Citibank is devaluing their Prestige card Chase enters the $450 annual fee marketplace and hits a grand slam.

  26. The other differentiator I noticed is the trip delay protection kicks in after 6 hours, not 12 like the Sapphire Preferred. Haven’t seen this detail mentioned anywhere yet, but it was exciting to me, much better protection.

  27. YES! I just hope I can find your link to the application so that you get “the credit.” I love ALL of your travel and credit card tips and sing your praises to friends (and random strangers that I meet on mileage runs).

  28. Do authorized users count toward the 5/24 rule? Is removing your spouse as an authorized user a good idea? Will it hurt their credit score or help?

  29. I have two Chase Ink Plus business cards now. Anyone know if it’s possible to convert them to this card and take advantage of the 100K bonus twice that way?

  30. I am active duty military. Will Chase waive the annual fee like Amex does? I only ask because Amex waives it regardless of when the account was opened, but I had read somewhere else that Chase will only waive it if the card was opened prior to joining the military. Thanks

  31. @ travel4b — You can’t convert a business card to a personal card, and you also don’t typically earn the sign-up bonus on a card if you’re simply converting it.

  32. So, if by transferring the points to another Ultimate Rewards card the points gain whatever value that new card offers, does it mean that if we transfer from CSP to CSR our points will gain value of CSR?

  33. @lucky this is makes this card even more valuable, at least to me.

    – $300 travel credit
    – 3X Points on Travel and Dining Worldwide
    – 50% More Value in Travel Rewards
    – Global Entry or TSA Pre✔® Fee Credit

    Just those 4 benefits are good enough for me to apply. But with 100K bonus points it is no brainer.

    The wife and I will both be applying.

  34. @ Gary70 — I haven’t heard any reports of a refer a friend bonus on the card yet, though it just went live. You can always apply for one card and then see if there’s a referral bonus.

  35. @Joe – Yes, you can upgrade.
    I didn’t confirm whether the points would be worth 1.5c versus 1.25c, but I am pretty certain you will not get the initial 100k bonus.
    The CSR’s were really good on the phone – they were briefed weeks ago, and had to “accelerate” or “move forward” the training > communication with knowledgeable customers like us…

  36. Yup, just performed a product upgrade on my Sapphire Preferred Account to the Reserve which allows me to keep the original account opening date, all account history, the same account number, et cetera … plus there’s no hard pull on my credit file (which totally sidesteps the banks 24/5 policy).

    Only downside to this scenario: no sign-up bonus points.

    Nonetheless, after factoring in all the additional benefits and 50% bump in both the points earned and value of UR travel redemptions, I’m a happy camper as this card actually costs less than the Preferred product.

  37. UPDATE: After just upgrading my Sapphire Preferred account to the new Sapphire Reserve I logged into my Ultimate Rewards account and all previously earned points are now worth 50% more.

    IMMEDIATELY available at the new redemption rate.

  38. Does anyone have a phone number to apply. I called my regular Chase number and they said it had to be in person, in branch.

  39. My wife and I literally got our Chase sapphire preferred cards (she is the primary, i am the authorized user) in the mail yesterday and didnt know much about the Reserve until today. In the mean time, I’ve only charged a tank of gas to the card.

    After reading about the Reserve, Id really like to upgrade. I haven’t met any rewards yet (obviously, since i just got it yesterday). Would we be able to upgrade to the reserve without losing any of the benefits? If so, what do you suggest is the best approach?

  40. @JAY M
    You probably can upgrade it to the CSR but will forfeit the 100,000 sign up bonus and maybe keep the 50,000 bonus from the CSP. or use the CSR for a couple months until you get the sign up bonus and then downgrade the card to a Chase Sapphire regular (no annual fee) and then sign up for the CSR and get the 100,000 sign up bonus.

  41. I’ve opened exactly five new cards in the last 24 months, and was added as an authorized user on another. Will that disqualify me per the 5/24 rule? I’ll be under five come December – any expectation that the 100K bonus will still be around then?

  42. All card issuers have incentive targets based on increase in purchase volumes flowing through the payment network. If these cards with travel rebate benefits switch large value transactions to their products from competitors products then that is a win for the bank

  43. For the priority lounge access,
    1. Is there a list of available lounges? LAX is the closest airport to me.
    2. Can significant other be brought in for free? Or is there a fee? Does it make sense to add SO as authorized user to get the benefit?

  44. Other than the sign up bonus, what’s the big deal? $55 (net) more than CSP for one extra point dining – you have to eat $5500 at a penny a point to get that back. PP is better through Citi, a lot of cards give the Global Entry benefit (which is =$20 p/year), and the extra $0.0025 redemption is only good if you buy tickets for points outright (vs. transferring them to an airline ).
    I can see going for the 100k points. I can’t see any compelling reason for continuing past the first year.

  45. It appears this priority pass allows you to take in guests for free. “You and your travel companions…”
    http://imgur.com/a/wDuZR
    The theory on Reddit is that it’s unlimited(ish) guests like through the Ritz card.

  46. What benefits does an AU get? I see that they will gain lounge access. Will the AU get the TSA reimbursement as well like the AMEX card?

  47. So with the CSR $300 credit..is it per calendar year or annual fee cycle?

    i know with citi prestige in your first year you can obtain the $250 airline credit twice if you signed up mid year youd get the credit for that calendar year and then again for the next

  48. I would consider the Reserve if I could upgade from my Preferred – sans 100K bonus points – if Chase would waive the $450 annual fee for the first year. Should I ask my Chase banker to try? Anyone had any luck with this?

  49. Anybody know if the Reserve card is available to non-US citizens? And if there is a list of participating locations/brands/store chains world wide?

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