The Chase Sapphire Reserve credit card is finally available!! The official link for the card came out yesterday morning, but I was driving most of the day and didn’t have access to my computer. This is a brand new credit card and a step up from the regular Chase Sapphire card. With this card, you’ll earn 100,000 Chase Ultimate Reward points after you spend $4,000 on the card within the first four months. This is an AMAZING bonus and a rare opportunity to earn that many points in a single credit card sign up. This card also comes with some pretty awesome perks which I have detailed below. While there is a $450 annual fee tacked onto the card, the benefits and points earned outweigh this cost big time, at least for the first year. UPDATE: This offer is now 50,000 points for online applicants. You can still get the 100,000 point bonus by applying at a Chase branch by March 11, 2017.
100,000 Point Bonus!
At mentioned above, you’ll earn 100,000 bonus points after you complete the minimum spend requirement. The points earned with the card are worth 1.5 cents each when booked through the Chase Ultimate Rewards travel portal. That means the 100,000 point sign up bonus is worth a MINIMUM of $1,500 towards travel. With the regular Chase Sapphire card the points earned are only worth 1.25 cents when booked through the travel portal. These points can also be transferred to loyalty partners where you could potentially receive a higher value based on how you redeem your points. Some popular transfer partners include Hyatt, Marriott, United, British Airways, Korean Air, etc. If you value your Hyatt points at 2 cents per point, for example, then the 100,000 points earned are worth $2,000! Now, if you simply just want to redeem your points for pure cash, you’ll still receive $1,000!
$300 Travel Credit!
Additionally, this card comes with a $300 annual travel credit. You’ll receive this as a statement credit towards hotel and airline purchases. This $300 is per calendar year, so if you receive the card now, you can receive the $300 credit both in 2016 and in 2017! That means $600 in statement credits in just the first year of having the credit card! I’ll write another post this week detailing out how the travel credits work, but it seems as though it will work on anything categorized as “Travel” on your monthly statement.
Free Global Entry
With this card, you’ll also receive a statement credit up to $100 once every 4 years for the purchase of Global Entry or TSA PreCheck. Global Entry comes with automatic TSA Pre, so you might as well get Global Entry. Global Entry costs $100, so with the $100 statement credit, it is FREE!
While the above there perks of the card are by far the winning points of the card, there are also some other benefits you’ll receive just by being a cardholder. Some of these are benefits that come with most other Chase cards as well. This card will also earn you 3x points on travel and restaurants which is higher than most other cards.
- Airport Lounge Access – You and your authorized users can access 900+ VIP airport lounges worldwide with Priority PassTM Select and enjoy lounge amenities such as WIFI, free snacks, beverages and more when you activate your membership.
- Car Rental Privileges – Enroll in leading car rental reward programs from National Car Rental, Avis, and Silvercar. Book with your card to enjoy enhanced benefits, such as upgrades and car rental discounts; savings on luxury and premium car rental rates; plus, promotions and other special offers.
- Elite Hotel Benefits at Relais & Châteaux – Enjoy accelerated access to Club 5C status with Relais & Châteaux, a prestigious collection of luxury properties worldwide. After staying just 2 nights at qualifying properties in a 12-month period and booking through the Visa Infinite Concierge with your Chase Sapphire ReserveSM card, you can enroll for your Club 5C benefits.
- No foreign transaction fees – Pay no foreign transaction fees when you use your card on purchases made outside the United States. For example, if you spend $5,000 internationally, you would avoid $150 in foreign transaction fees.
- Luxury Hotel & Resort Collection – Enjoy special benefits at a variety of hand-selected top hotels and resorts worldwide.
- Trip Cancellation/Interruption – If your trip is cancelled or cut short by sickness, severe weather and other covered situations, you can be reimbursed up to $10,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels.
- Auto Rental Collision Damage Waiver – Decline the rental company’s collision insurance and charge the entire rental cost to your card. Coverage is primary and provides reimbursement up to $75,000 for theft and collision damage for rental cars in the U.S. and abroad. –> this is a great perk since it gives you PRIMARY coverage; many other cards only give you secondary coverage
- Baggage Delay Insurance – Reimburses you for essential purchases like toiletries and clothing for baggage delays over 6 hours by passenger carrier up to $100 a day for 5 days.
- Trip Delay – If your common carrier travel is delayed more than 6 hours or requires an overnight stay, you and your family are covered for unreimbursed expenses, such as meals and lodging, up to $500 per ticket.
- Roadside Assistance – If you have a roadside emergency, you can call for a tow, jumpstart, tire change, locksmith or gas. You’re covered up to $50 per incident 4 times a year.
- Lost Luggage – If you or your immediate family members’ checked or carry-on bags are damaged or lost by the carrier, you’re covered up to $3,000 per passenger.
- Travel & Emergency Insurance – If you run into a problem away from home, call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance. (You will be responsible for the cost of any goods or services obtained.)
- Travel Accident Insurance – When you pay for your air, bus, train or cruise transportation with your card, you are eligible to receive accidental death or dismemberment coverage of up to $1,000,000.
- Emergency Evacuation – If you or a member of your immediate family are injured or become sick during a trip far from home that results in an emergency evacuation, you can be covered for medical services and transportation up to $100,000.
- Emergency Medical & Dental – If you’re 100 miles or more from home on a trip, you can be reimbursed up to $2,500 for medical expenses if you or your immediate family member become sick or injured.
Things to Know
From reports I’ve read, it seems as though this card WILL fall within Chase’s “5/24” rule. The “5/24” rule means if you’ve applied for 5 or more cards (personal cards from ANY bank) in the past 24 months you’ll automatically be denied for a Chase card. The 5 cards are from any bank and include being an authorized user. If you have less than 5 primary cards and authorized user cards take you over the 5 threshold, you can usually call the reconsideration line and ask for them to reconsider your application.
As I mentioned above, while this card has a high annual fee, the benefits you receive the first year of having the card will earn you way more. The 100,000 sign up bonus points is worth a minimum of $1,500 (although I personally value it at over $2,000!), the travel reimbursement credits is worth $600 the first year, and the global entry (if you do not already have) is worth $100, for a total of $2,200. Subtract the $450 annual fee and you are getting at least $1,750 for one credit card sign up! This is the best offer and perks we’ve seen for a very long time in the credit card world!
- Chase Sapphire Reserve: 100,000 Chase Ultimate Reward points after you spend $4,000 on the card within the first three months.