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Update: These offers for the Citi Prestige® Card and Chase Sapphire Reserve℠ are expired. Learn more about the current offers here.
I’ve written extensively about the new Chase Sapphire Reserve℠, which is Chase’s new premium credit card, intended to compete with The Platinum Card® from American Express and the Citi Prestige Card. It has a $450 annual fee, 100,000 point sign-up bonus upon completing minimum spend, a $300 annual travel credit (meaning you’ll get $600 in travel credits before you pay your second year’s annual fee), offers triple points on dining and travel, and much more.
Applications for the new Chase Sapphire Reserve are now available. I’d note that as of now only the direct application link is available, which doesn’t list the sign-up bonus. It should be safe to assume that the 100,000 point bonus applies since it’s the only way the card is being marketed, though if you want to be on the extra safe side, you can wait until the full landing page goes live as well.
This is an incredible card, so if you’re eligible, I’d highly recommend picking up this card. The way I view it, long term it’s like paying $150 per year “out of pocket” for this card (since you’re getting a $300 per year travel credit that can be used on any travel purchases), and for that you’re earning triple points on travel and dining. I’d say that’s worth the premium over the Chase Sapphire Preferred® Card.
As I explained yesterday, Chase has a “5/24 rule,” where they won’t approve consumers who have opened more than five credits cards in the past 24 months. While that doesn’t impact a vast majority of consumers, for those who have opened more cards than that in the past 24 months, it could lead to an instant denial. Based on the data points we’re getting so far, the 5/24 restriction does apply for this card, though I’ll post again if that changes. So if you’ve opened more than five credit cards in the past 24 months, I wouldn’t bother applying for this card.
If you apply for the card, please report back with your experience!
(Tip of the hat to Doctor Of Credit)