It has been confirmed by Chase that the new Chase Sapphire Reserve card will launch August 21st. Since the news has leaked, here are some details on this exciting new card product from Chase:
- The Sapphire Elite/Sapphire Reserve card will enter the market as a competitor to high end/premium travel cards like AMEX Platinum and Citi Prestige. Expect an annual fee to match those cards or be in the same ballpark.
- The card will supposedly come with a 100k UR Point sign up bonus (this is huge). The minimum spending requirement will be $4,000 in 3 months to receive the bonus.
- Expect benefits to match the AMEX Plat/Citi Prestige cards. Cardholders will earn a $300 travel credit per year that can be used towards any purchase that is coded as travel. This is particularly exciting news because it can potentially apply to Air Bnb as well as airfare tickets (not just incidentals).
- Speculation that the card will earn 3x on travel purchases, which would make sense given the affluent heavy travel market they are going after. Besides this, the earning structure is unclear. EDIT: Confirmed that the card will earn 3x on travel AND 3x on dining purchases.
- The card will be part of the new Visa Infinite platform. Visa Infinite is one level above Visa Signature and is considered to be Visa’s “super premium” platform, which comes with benefits and perks among food & wine, travel, & entertainment. One such benefit is a $100 credit on 2 domestic round trip airfare tickets — unclear as of yet if this card will get that benefit. It is Visa’s most affluent category. Canada already has Visa Infinite so this might not look new to some people
- Unclear on if this card will apply 5/24 rules to you. If you have applied for more than 5 cards in the last 24 months (from all banks, not just Chase) you may automatically be declined for the new card product. There are some ways around this, like getting Chase Private Client status, but that’s for a later post.
More on the blog later, but this is some exiting news! 100k UR points is nothing to sneeze at, even given the annual projected fee of $300-450. The $300 credit certainly alleviates a lot of stress. This might just be the best credit card on the market.
Happy travel hacking!