Yesterday, the Chase Sapphire Reserve application link mades it official debut to the online world and it was quite an eagerly awaited one! Of course, I was traveling and away from my computer all day so it made it difficult to share in the blogging excitement about the launch (it was almost as bad as flying all day during Cyber Monday!).
Chase Sapphire Reserve Application Link and Details
But, now the Chase Sapphire Reserve application link is finally here and we know what we have to look forward to. Well, many people get to look forward to it as it seems that some people are not going to get to experience the 100K point windfall (more on that below). So, let’s take a look again at what this card gives to us!
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- Sign-up Bonus – 100,000 Ultimate Reward Points
- This is one the most exciting parts about the new Chase Sapphire Reserve. It comes with 100,000 Ultimate Reward points as the sign-up bonus. At the very least (if redeemed for a cash equivalent), it is worth $1,000 but will get you a definite $1,500 in value towards travel and even more.
- The spending requirement for this card is $4,000 in 3 months, a very low threshold for such a monster bonus.
- Annual Fee – $450
- Yes, this is a premium card so it can command a premium annual fee. But, with this card’s benefits, you will easily be able to get that back. This is the new big brother to the Chase Sapphire Preferred which comes with a $95 annual fee. See the benefits below for how the Chase Sapphire Reserve fee could end up being a net cost less than the Sapphire Preferred!
- Authorized users on this card will cost an additional $75 per user.
- Travel Credit – $300
- This is one of the best parts about the card that should really make it a keeper for anyone that travels even a little bit. The Chase Sapphire Reserve comes with an annual travel credit of $300 that is a maximum account for all users on the account – primary and authorized users.
- This travel credit works on an annual basis following the first December statement of the new account. This means that your first cardmember year, you will be able to get $600 in travel credit from this card! The travel credit will post automatically when you pay for things like airfare, hotels and other travel incidentals.
- Priority Pass Select Lounge Access Membership
- The Chase Sapphire Reserve comes with Priority Pass Select membership for access to lounges. This allows you to have access to over 900 lounges worldwide. If you pay the $75 for an authorized user, they will also receive membership.
- Global Entry or TSA Pre Reimbursement
- Once every 4 years, you will be able to be reimbursed for your payment for Global Entry ($100) or TSA Pre ($85).
- Ultimate Reward Point Redemption – 1.5 Cents for Travel
- This is one of the big ones! Having the Chase Sapphire Reserve guarantees that you will receive 1.5 cents for travel when redeeming your Ultimate Reward points through their portal. Right now, it is 1.25 cents so this is quite an increase. It comes at a perfect time as airlines continue to devalue their awards but while airfare deals continue to roll out multiple times in a week – even for business class!
- Point Earning – 3X for Travel and Dining
- The Chase Sapphire Preferred allows you to earn 2 points per dollar for travel and dining. The new Chase Sapphire Reserve will let you earn 3 points per dollar for travel and dining!
- Many, many more benefits – see this page
Approval!
Unfortunately, I was excluded as a result of having too many new accounts (the dreaded 5/24 rule). But, as I mentioned a few months ago, I was purposely keeping my wife at her 4/24 in the hopes of something good would come with Chase. Well, obviously something great did come!
Last week, I she shift more of her credit around (by simply secure messaging Chase and asking for credit lines from one card to be moved to another). This was done to be able to hopefully better leverage a single card (her Chase Sapphire Preferred) as a negotiating card if Chase did not want to give it to her. I was certainly hoping she would be approved instantly – and she was approved!
Here are her details which may give you an additional data point for Chase Sapphire Reserve approvals:
- Credit score in the 700-730 range
- Chase cards at 8 personal and 2 business
- 4 new total accounts in the last 24 months
- Credit line for the Chase Sapphire Reserve $10,000
- Previous credit line total had been at 35% of annual income
This shifts my previous strategy around as I had been planning on upgrading my Chase Sapphire Preferred to the Chase Sapphire Reserve to take advantage of its awesome benefits. Even though I would not receive the sign-up bonus doing that, I would still be able to get things like the travel credit.
But, since my wife was approved, I will put that on hold for a year and just cancel/downgrade her Chase Sapphire Reserve next year and then I will either apply or upgrade my Chase Sapphire Preferred to the Chase Sapphire Reserve then.
The Terrible 5/24
What was really something people were hoping would not happen does seem to have happened – people with 5 or more new accounts in the last 24 months were not getting approved. In fact, the reasons cited when people (including myself) called in was too many new accounts.
Some people suggest applying in branch as that has worked for many people. If you are over 5/24, I would definitely suggest you pop into a Chase branch and see if you are pre-approved for this card.
Summary
I am very happy that one of us got a Chase Sapphire Reserve approval! This means we will be shortly getting that big 100,000 Ultimate Reward point bonus soon! The travel credits will also be coming in handy in the next few weeks.
Did you get a Chase Sapphire Reserve approval? If so, were you over 5/24?
I went into my online Chase account and found a “Find out if you’re prequalified” for any of their cards. I wasn’t. I’m at about 7/24.
I’m wondering if this is basically what they’ll do at the local Chase branch.
Nope, Chase Online Pre-qualified and In-Branch Pre-Qualified are different. My wife had nothing online, In-branch she had all chase products prequalied and also Southwest/United credit cards. Unfortunately not the Chase Reserve Yet
I’m having trouble connecting how the December travel credit can happen more than once in a cardmember year… I’ll pay my $450 fee in September 2016, then get a $300 credit in December 2016… and be due for my second fee in September 2017 before my next credit… it actually seems brilliantly timed to make sure that all of these sign ups will not be able to get an annual fee refund for the second year after the second $300 credit posts…
You’re misunderstanding. The travel credit is once per calendar year. So you have between now and December to get it for 2016. Then, you have a new $300 credit to use any time after January for 2017. In other words, use it once this year and once before your AF next year and you’re ahead of the game.
Usually credit cards do these credits annually. So if you get a card in August 2016, then you get the $300 credit for this year; and when January 2017 comes around, you can get another credit for that year. Assuming that is how they are doing it.
Nico and farsighted99 are right – it is a calendar basis, not a cardmember year basis. So, for the first year, you will get 2 credits which really works out well to defray the first year annual fee.
Hi Charlie,
I’ll like to start off by thanking you for all the valuable information you share. I love your blog and look forward to reading it.
In your opinion is the Chase Sapphire card better or comparable to the American Express platinum? I currently already have 3 Amex cards ( Platinum, Premier, Delta platinum) trying to decide if it’s worth shelling out an additional $450. I already have global entry through Amex Platinum.
I travel at least 4 times a year mostly for pleasure and to run half marathons.
Thanks, Ola! Appreciate the kind comment and sorry for the delay in getting back. I was offline for a few days with a family situation.
I would say it depends on how you use the Platinum. If you are using it for Centurion lounge access a few times a year and you value that over the domestic lounges (which are certainly inferior but I mean the time you have to spend), then I would keep the Platinum.
I would say a good plan would be to cancel the Platinum and get the Chase Sapphire Reserve this year. If you find it is not as good of a fit for you, you can sign-up for the Amex Platinum through the Ameriprise site (search on the blog for the link) and get the first year fee waived. Or you can upgrade a card to the Platinum.
Awesome that you run half marathons! To me, that is the perfect race distance! Hope you have a great fall race picked out!
What can the travel credit be used for, with the prestige it can be used for airfare, is it the same?
It says in can be used for airfare and hotels. I would actually imagine it to be able to be even more widely used then that since the earning on travel and the way it is coded is pretty wide.
Congrats – Re. moving credit lines, do you mean that you moved other lines to increase your CSP?
Noobie Question, but how does that help, were you going to threaten to shut the CSP?
Sorry for not being clear. No, I was saying that it would have been easier to just offer to shut down the single card and have enough of a credit line on there to justify just opening the new account. Just a trade!
I have had 5 accounts in the last 2 years. I’m totally bummed and one of those was a month ago for a pretty mediocre card. I don’t drop off to 4 new accounts until January of next year. I know for a fact I won’t be opening any new cards until then because I want this card.
That is a shame! That is also a good plan to hold off. No other card in the next few months is worth missing out on this bonus. Good luck!
My credit line for Sapphire Preferred is already 10K. Does this mean I’m good to go for Reserve?
It is certainly a good start if you need to negotiate on a pending call. If it is a credit line issue, offer to close your CSP and move the credit line to the CSR as a new account. If you are under 5/24, you should be ok.
Good luck!
Hi Charlie,
Thanks for your information. It is so helpful especially to a novice who has only recently become more savvy with our cards. And we are travelers! I must admit, reading and learning about the perks feels like a job unto itself! Long story short we never carry a balance and got rid of cards that weren’t benefiting . We recently acquired the Chase Sapphire (no fee first year & sign up bonus perks) and the City National Crystal (no fee first year with yearly fees comparable to the new Chase Reserve, no bonus perks at sign up but benefits comparable to the Chase Reserve plus 3xs for travel, gas, dining and grocery purchases which pretty much sums up our life…. Yearly we travel yearly internationally and several times within the US ). As a rookie I’m quickly learning that the “value” of points is not like comparing apples to apples in the card world. I applied for the Chase Reserve and was approved. Second guessing myself as the Crystal 3xs for groceries and gas is big in our world. Wondering if we should just keep it as it is? If I do go forward with the Chase Reserve I would get rid of the Sapphire & Crystal before the annual fee rolls around,apply for the no annual fee Chase Business Ink to put phone, Internet, cable, minimal business purchases on at 5xs points. I do like the idea that all points would come be within the Chase system. Frankly this new job of my be is making my head spin! Do you or your readers have any guidance/thoughts?