Chase Sapphire Reserve Card to launch on August 21st (100k Point Bonus)

Earlier this week Chase confirmed rumors that have been circulating for some time. On Sunday, August 21st, they will be launching a new premium credit card product which will be branded as the Chase Sapphire Reserve (CSR) card. Chase has long been missing out on the premium credit card market segment that both American Express and Citibank are attacking with their Platinum and Prestige cards respectively. Below, I will outline what is and is not known about Chase’s new premium credit card.

 

Chase Sapphire Reserve

An image of what the new card will look like

 

What We Know About the Chase Sapphire Reserve Card

  • Chase has confirmed the rumors that they will be offering a sign-up bonus of 100,000 Ultimate Rewards points after spending $4,000 within the first 3 months of card membership. This is an incredible offer and can be redeemed for $1,500 in travel through the Chase Ultimate Rewards portal.
  • Much like the American Express Platinum Card and the Citi Prestige card, The Chase Sapphire Preferred card will boast an annual fee of $450 which is not waived for the first year.
  • The card will earn 3X Ultimate Rewards points per dollar spent on all travel and dining expenses (Compared to 2X Ultimate Rewards points on their Chase Sapphire Preferred Card).
  • Their will be a $100 Global Entry or TSA Precheck credit which can be used to cover the cost of entry into the program. This benefit is good for five years upon program admittance.
  • You will also get a Priority Pass Select membership to access their fantastic collection of airport lounges around the world.
  • The card will be a Visa Infinite card which will provide world class card protection (including primary collision for rental cars).
  • Much like competitor cards in the premium card market, there will be a $75 annual fee to have an authorized user added to the card.
  • Chase Sapphire Reserve Cardmembers will be able to redeem Ultimate Rewards points through the web portal at 1.5 cents each (Compared to 1.25 cents each with their Chase Sapphire Preferred card). This is huge in our opinion, especially for booking flight deals with points.
  • The most lucrative benefit Chase has confirmed the card will offer is an annual $300 travel credit. This can redeemed for items such as airline tickets, hotels, Uber rides and anything Chase considers to fall under the travel category which I have outlined below:

    Merchants in the travel category include airlines, hotels, motels, timeshares, campgrounds, car rental agencies, cruise lines, travel agencies, discount travel sites, and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages. Please note that some merchants that provide transportation and travel-related services are not included in this category; for example, real estate agents, websites or owners that rent vacation properties, in-flight goods and services, on-board cruise line goods and services, sightseeing activities, tourist attractions, merchants within airports, and merchants that rent vehicles for the purpose of hauling. In addition, the purchasing of points or miles does not qualify in this category.

Thrifty Tip #1: Being that this benefit is a calendar year benefit, you will be able to redeem $600 of travel credits before having to pay the annual fee for year two!

Thrifty Tip #2: Do you want to know our favorite way to redeem Chase UR points? Read Mr. TT’s post on booking flight deals with points.

 

What is Not Yet Known About the Chase Sapphire Reserve Card

  • The biggest unknown right now is whether or not the new Chase Sapphire Reserve card will fall under Chase’s 5/24 Rule. This rule limits people from being approved for Chase credit card products who have had 5 or more credit pulls in the past 24 months. All of their other Ultimate Rewards earning credit cards are subject to the 5/24 rule, so I would personally be surprised if the Reserve card is not.
  • It is currently not clear whether or not you will be able to bring guests into Priority Pass lounges with the Priority Pass select membership this card offers. The American Express Platinum card does not allow guests with its Priority Pass membership, while the Citi Prestige membership lets you bring up to two guests in with you.
  • It is also not clear what Visa Infinite benefits the card will have. Chase has confirmed that it will not have the $100 airline credit that comes with other Visa Infinite cards, but few other details or known on this subject.

 

Bottom Line

The Chase Sapphire Reserve card has everything I look for in a travel credit card (incredible signup bonus, great category multipliers on travel and dining, lounge access, and lucrative other benefits). It is exciting to see Chase bring a product to the market to compete directly with American Express and Citibank. Knowing what we know about the Chase Sapphire Reserve card, it should make an incredible addition to their suite of Ultimate Rewards earning card products. I have been a Chase Sapphire Preferred card member since 2011, and it’s the card I use for my everyday spending. In my opinion it is the top travel rewards card on the market. Knowing that the Sapphire Reserve card will include enhanced versions of all of the Sapphire Preferred benefits, along with many other fantastic new benefits, I will certainly be applying for the card on the 21st of August.

 

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  • Down at Dupont

    Will this card have a credit limit or be a charge card like the Amex Platinum?

    • It will have a credit limit. Charge cards are generally limited to American Express cards only.

  • Blue

    If you already have the Sapphire Preferred are you able to just call and request an upgrade?