Credit Cards Deals

Chase Launches the Next Big Thing – Sort Of

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Written by Charlie

The new Chase Sapphire Reserve made a showing and now we have confirmed details on what promises to be one of the most exciting cards in a while!

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One of the most talked about and most anticipated cards in a while is the new Chase Sapphire Reserve card. It is a premium card that has a lot going for it, including a mega sign-up bonus. Launch day was supposed to be August 21, but it sort of slipped out a little early. This let us get a glimpse of what the card promises so let’s take a look.

Confirmed Details of the Chase Sapphire Reserve

 

There has been a lot of discussion about this card and even screenshots from within the Chase employee ranks to verify what had been talked about. But, yesterday for a little while, Chase had a public link (this is a cached version of the application) available for the Chase Sapphire Reserve and it gave us a look at the details and what is supposed to be rolling out for all this Sunday, August 21.

First Things of Note for the Chase Sapphire Reserve

There has been a lot of speculation as to whether this card would be under the 5/24 rule and early reports on Reddit about the applications that got in last night and approved suggest that it may not be. However, this was obviously not the real roll out and even customer service representatives do not have information about this card yet. My guess is that it will be under the 5/24 rule when the official rollout is here but we will have to wait and see.

Also, good news as this slip up shows that Chase will be rolling out this card for applicants online. There were some rumors and discussion that it would be in-branch only but the fact that Chase was testing the online application is good news for those that do not like to apply in branches.

Chase Sapphire Reserve Sign-up Bonus – 100,000 Ultimate Reward Points

This is one the most exciting parts about the new Chase Sapphire Reserve. It will come 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.

Chase Sapphire Reserve 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.

Chase Sapphire Reserve 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.

Chase Sapphire Reserve Lounge Access

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 – as well as your unlimited number of guests!

Chase Sapphire Reserve 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). The terms say that you get one credit per account which I believe excludes getting the same for your authorized users. This is a shame, if that is the case, as it would be a compelling factor for people to get added as an authorized user. Hopefully, I am just reading that wrong.

Chase Sapphire Reserve 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 1.2 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!

This means that if you normally transfer your Ultimate Reward points to United for economy tickets to Europe, you may now be better off just outright purchasing your ticket using Ultimate Reward points. It costs 60,000 miles and potentially around $100 or more in taxes and fees for a roundtrip economy ticket to Europe. If you were to redeem those UR points for the purchase of a ticket instead of transferring them, it would get you $900 in redemption value plus possibly save you the $100 that you would have spent on taxes and fees!

Chase Sapphire Reserve 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!

Summary

The Chase Sapphire Reserve comes with some other benefits as well but these are the highlights for sure! If you were able to apply and get approved last night, good for you! For the rest of us, we have to wait until Sunday! It sure looks like Chase is going to be hitting a lot of new applicants with this card!

Editorial Note - Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

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About the author

Charlie

Charlie has been an avid traveler and runner for many years. He has run in marathons around the world for less than it would cost to travel to the next town - all as a result of collecting and using miles and points. Over the years, he has flown hundreds of thousands of miles and collected millions of miles and points.
Now he uses this experience and knowledge to help others through Running with Miles.

4 Comments

  • Hi Charlie, Newbie question please….Any thoughts on what type of credit score and income level a premium card like this requires? Thanks.

    • I have been seeing reports from yesterday that people as low as 720 and $50,000 reported income were getting approved. With Chase, it has to do a lot with how much credit they have already extended to you. Some say 60% of your income is the ceiling. If that is the case and you are at your ceiling, just give them a ring if it goes to pending and be prepared to shift credit around or even close a card. If you have the CSP, that would be a great card to give up for this one!

  • Thanks very much for responding and for the information. I have a handful of CCs with Chase so I’ll pay particular attention to the amount of credit they’ve extended to me. The Hyatt CC was next on my list but think this new card is now on the top.

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