*** Update ***: Chase dropped the signup bonus to 50,000 Ultimate Rewards Point. You can still get the card for the excellent benefits offered by Chase Sapphire Reserve card
For the past few weeks, the internet was ablaze with rumor Chase is introducing a new premier credit card similar to American Express Platinum card. Now the new Chase Sapphire Reserve credit card application page is available at chase.com for anyone to apply.
The new Chase Sapphire Reserve card is the Chase Sapphire Preferred card on steroids. It not only comes with all the benefits Chase Sapphire Preferred has but much more. For a start, it has a signup bonus of
100,000 50,000 Chase Ultimate Rewards point, which is worth a book value of $1,500 and a usage value of $5,000.
To get the
100,000 50,000 Chase Ultimate Rewards Point, you need to spend $4,000 within 90 days of the card approval date. A significant amount of spending for some folks, you can use the card to pay using Plastiq which will unlock the bonus for just $100 fee. I have written a blog post about how to unlock the credit card signup bonus using Plastiq service, which you can read here.
Summary of Benefits
- Signup bonus
100,00050,000 Chase Ultimate Rewards points.
- Earn three ultimate rewards points for each dollar spent on travel and dining categories.
- Complimentary Priority Pass Select membership which allows you to get access to 900+ VIP Airport Lounges around the world.
- $300 credit every calendar year for any airline or hotel fee charged to the card, which includes flight ticket, baggage fees, any airline fees and hotel booking fees.
- Every four years get $100 statement credit for Global Entry or TSA Pre fee.
- Trip delay insurance, when you use the card to charge for your flight ticket.
The card carries a hefty annual fee of $450, which is not waived for the first year. But unlike American Express Cards which gives statement credit only for airline related costs like excess baggage charges, you will get up to $300 statement credit per the calendar year for any travel related expenses charged to the card, including the airline ticket fees, which will bring down the annual fee to $150 per year.
Comparison between Chase Sapphire Reserve and Chase Sapphire Preferred
|Benifits||Chase Sapphire RESERVE||Chase Sapphire PREFERRED|
|Signup Bonus||50,000 rewards point|
|Travel, Dining Bonus Category Points||3 points per $ spend||2 points per $ spent|
|Complimentary Priority Pass Select Membership||Yes||No|
|No Foreign transaction fee||Yes||Yes|
|Primary Car rental insurance coverage||Yes||Yes|
|Annual Fee Waived for First Year||No||Yes|
|The airline, Hotel Charges/fee charged to the card reimbursed through statement credit per the calendar year.||$300||$0|
|Global Entry/TSA Pre Fee reimbursement through statement credit every four yers||$100||$0|
How to Get the Chase Sapphire Reserve Card
You can apply for the card at Chase.com, and the Chase Sapphire Reserve card is a premium card to get approved you should have excellent credit history as well as make sure you do not get hit by the Chase 5/24 rule.
The flyer talk thread reports, if you are having a banking relationship with Chase or your are Chase Preferred client check with your Bank first. The bank manager will be able to pull your record and see whether you are pre-approved. If you are pre-approved, you have a very high chance of getting the Chase Sapphire Reserve card approved.
Overall this is an excellent card available in the market, and the signup bonus alone worth applying for this card.