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The Chase Sapphire Reserve℠ became available last week, and it has been very popular. Not only does it have a great point sign-up bonus, but it’s a card that’s actually worth keeping long term thanks to the triple points it offers on dining and travel, along with a bunch of other benefits.
I imagine Chase knew the card would be popular when they launched it, as a high sign-up bonus gets people interested, even people who otherwise don’t consider getting new credit cards.
Well, it seems that Chase may have underestimated the card’s popularity, because most people who received the Chase Sapphire Reserve in the mail as of yesterday received the following message with the card:
You are one of the first to call Chase Sapphire Reserve your own. We are honored to have you as a cardmember and wanted to make sure you could start enjoying your elite benefits as quickly as possible.
Due to extraordinary demand for the Sapphire Reserve we have rush delivered the enclosed plastic card for you to use temporarily. Rest assured you will receive your hand-crafted embedded metal card as soon as it is available.
So I guess demand has been so high that they’ve run out of the actual materials needed for the Chase Sapphire Reserve. For what it’s worth, the card is supposed to be made of the same materials as the Sapphire Preferred Card, so looks very similar.
Instead the cards they’re sending out right now are plastic and have “raised” numbers on them, so they look more like an average credit card. I wonder if the materials stockpile is different for the Reserve and Preferred, or if they’re also sending out plastic cards right now for the Preferred.
I mention all this because I think it shows us that demand for the card has exceeded even Chase’s expectations. Hopefully they view this as a good thing, and decide to raise their overall budget for the card, realizing it will pay off long term. However, it’s also possible that they’ll run through their budget sooner than expected, and perhaps the huge sign-up bonus won’t be around quite as long as I had speculated.