The Chase Sapphire Reserve has been one of the most popular credit cards in awhile (read more about the card here). While it comes with a $450 annual fee, the huge perk of the card is that you’ll receive a $300 statement credit for travel related purchases per year. The confusing part is that is doesn’t 100% run on a calendar year. To receive the $300 statement credit for 2016 you must make the travel related purchase by your December statement close date. So if your statement typically closes on the 10th of the month, for example, you have until December 10, 2016 to make your purchase. A purchase after that will get clumped into 2017 even if it happens in 2016..
- Chase Sapphire Reserve: Earn 100,000 Chase Ultimate Reward points after you spend $4,000 on the card within the first four months.
My husband and I just recently applied for the card. I applied on Saturday while my husband applied on Sunday. My application required a call to the reconsideration line to move some credit around while this was automatically approved. On Monday, we both called to inquire about moving our statement close date. Both of our dates had the first statement closing at some point in January. We both requested to move the date for it to close in December. While I was able to do it with no problem, my husband did have to speak to a supervisor and get their approval. The supervisor then did it with no issue. Note: This worked when I applied on December 3rd. If you are reading this now, there is a chance it might be too late to get your date changed to December, but you never know. Read the comments below to see if there are any recent reader success stories/failures.
As I mentioned above, now that we both have a December 2016 statement close date, this will allow us to snag the $300 travel related credit just in time. We will then be able to receive another $300 credit for 2017 shortly there after. This means if you pay the $450 annual fee now, you’ll are eligible to receive two $300 statement credits within the year, thus giving you $600 in statement credits and coming out $150 ahead. Now, it might also be possible to get the $300 statement credit three times within the first year of your card! Currently, Chase allows you to cancel your card 60 after the annual fee hits the card and get the annual fee reimbursed. So let’s say you apply for the card now and in December 2017 the 2nd years annual fee of $450 hits your card. In January 2018 you are eligible for another $300 statement credit for travel related purchases. But, after that credit hits your card and if you are within the 60 day period, you might be able to cancel the card and have the $450 credit refunded. Chase could always change this policy, so I wouldn’t bank on this, but it is a good chance. Read this post to learn how the $300 statement credit work and what classifies as “travel”: How Does the Chase Sapphire Reserve $300 Travel Credit Work
Keep in mind that the above was mine and my husbands experience. Your experience might differ. Even if you are not able to get the statement close date moved, you’ll still be eligible for the $300 travel credit in 2017 and 2018 since the 2018 would include some timeframe of December 2017. So you will not be at a loss if you are not able to move the date, but we both had a positive experience and that was just one day ago!
Feel free to leave your experience below for other readers.
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This is incorrect info. The first statement for the card will close post until 45 days after you open the account, regardless if you change that statement closing date. You will not receive a credit for 2016. You should append this post so as not to mislead your readers.
@dave – this is my experience, others might have a different experience which I highlighted in the post. I even called back twice and talked to two different reps to confirm my first statement close date.
Hi, thanks for your reply. My understanding is that while you may have changed the statement close date to, say, the 28th of the month – if you just opened the card, Chase will not close the statement until the following month. They do not close 1st statements until 45 days after a card is opened, no matter the 1st due date. I would triple check this, as I very strongly suspect you will not receive a credit for 2016. I would be delighted if I were were wrong.
@Dave – I’ll be sure to keep you posted!
Thanks mate. I do think you are leading people to apply for this card thinking they will be able to apply and get that 2016 credit this year, and they won’t. But we’ll check back here next month and see.
@Dave – Appreciate the concern. I’ve already spent my $300 travel credit, spoke to a Chase representative and told me that since my close date is December 23rd then I am good. I have already verified with 4 different representatives. With that being said, this is again my experience and fingers crossed everyone else has a similar experience.
Also, there is still no loss applying now. You wont lose out the statement credit 2x within the 1 year annual fee. If you don’t get it now, then it will be 2017 and 2018. If you do get it now, it will be 2016 and 2017 – with the hopes that you can get 2018 as well.
I just wanted to come back and say: you were right. Sorry for being negative, and delighted that I was mistaken.
@dave – no problem at all. I was pretty confident in it so that’s why I was promoting it. If I wasn’t I wouldn’t have recommended it to me. Been around the block with these scenarios before.
Thanks for your post and the excellent tip! I just got off the phone with two representative who were able to assist me in answering questions. I moved my statement closing date to December 25! the post from frequentmiler dissipated any other doubts I might have had. http://frequentmiler.boardingarea.com/2016/11/23/sapphire-reserve-card-arrived-heres-next/
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Hmm…this is confusing because this is different information that what was posted on Dan’s Deals. From what I understand, your payment due date (which you see when you log in) and your statement close date are different. Your statement close date is 3 days after your payment due date. My fiance just applied for the card this Monday (DEC 5). Her payment due date is January 15 and her statement will close on December 18th. From what I understand, she will have until the 18th to get the travel credit for this year.
@Justin – Yes, your payment due date and statement close date are different. Your statement close date is what you care about for the $300 credit. The $300 must hit your credit card by your December statement close date.
Typically, your statement close date is approximately 25 days before your payment due date.
Based on your scenario, you have to spend the $300 in travel credit by December 18th for it to count in 2016.
This information is in sync with what Dan’s Deals has also reported.
Gotcha. Thanks for the clarification!
I called Chase and they wouldn’t let me change the statement date to December. They said they could extend it to the future, but not backwards…. I’ll call again and try a different representative.
@Anonymous – Call again and ask to speak to a supervisor.
I ended up calling the general Chase number instead of the CSR number and the lady changed it for me. I don’t see the change on my online account, but I assume she did change it…. When yours changed, was it reflected on your online account?
Ahhh.. such a fear of missing out on this deal as I’m finding out about $300 in 2017!
Can someone please tell me if I open my account early next week before Jan 11, when would my statement date be? and until when in 2018 can I use the travel and can cancel membership so that I won’t have to pay the membership fee for 2018 if that works?
@Mangolover – Your statement date will be probably some time at the beginning of February. You can use the 2018 travel after your december statement closes through beginning of February. You can then cancel in February. Many gift card purchases count.
Can someone please give me the Chase reconsideration number. I got disapproved and I wanted to give them a call. Thank you. Very much appreciated.