Posted by William Charles on July 25, 2016
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Published on July 25th, 2016 | by William Charles

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Chase To Launch New Premium Sapphire Reserve/Elite Card On August 21st, 2016 (100k UR Sign Up Bonus)

Fourth update: 50% Off Chase UR Redemption, Lounge Access Type + Card Design

  • Sign up bonus of 100,000 Chase Ultimate Rewards points, unknown minimum spend requirement
  • Card will ear the following rates:
    • 3x points on travel & dining purchases
    • 1x points on all other purchases
  • Annual fee of $450
  • Authorized user fee of $75
  • $300 annual travel credit for travel purchases charged to the card
  • No foreign transaction fees
  • Complimentary lounge access at over 900+ lounges (this indicates it’s a Priority Pass Select membership)
  • Points will be transferable to Chase travel partners (we didn’t already know this, but it was assumed since the lower annual fee Chase Sapphire Preferred does this)
  • Global Entry or TSA PreCheck credit of up to $100
  • 50% bonus when redeeming points through Chase Ultimate Rewards for airfare, hotels, car rentals and cruises
  • Visa Infinite

 

Third update: It’s rumored the following will be true:

  • $450.00 Annual Fee
  • 100K UR Sign up Bonus
  • $300.00 Airline Credit
  • Priority Pass Select
  • 3X Points Travel
  • 3X Points Dining (Yes 3X for Dining)
  • Visa Infinite

 

Second update: It will be a Visa Infinite card

Update: An unnamed reader has some more information (and has had good information in the past).

  • The Sapphire Elite card will enter the market as a competitor to high end/premium travel cards like AMEX Plat and Citi Prestige. Expect an annual fee to match those cards or be in the same ballpark
  • The card will come with a 100k UR Point sign up bonus. Unclear on minimum spend needed to meet this requirement
  • Expect benefits to match AMEX Plat/Citi Prestige. Unclear on exact details
  • Exact earning structure unclear
  • Unclear if AF will be waived first year
  • Card will be launched on August 21st, 2016

I’ve heard rumblings about a new premium Chase card recently (although without any specifics worth posting), but Flyertalk user mvcore just posted about a new premium card from Chase that would be coming in the next couple of months. This is backed up by the fact that Chase has a trademark for ‘Sapphire Reserve’ (and TravelPlus & Unlimited). Details are sparse at the moment about the exact specifics, but this is what is rumored currently:

  • Annual fee of $300-$400
  • Card earns 3x Chase UR on travel purchases
  • Will be made via bonded metal (e.g same as the Chase Sapphire Preferred)

I’ll see if I can find out more details via my source, but feel free to discuss what we currently know in the comments (as well as any rumors/information you know or even benefits you’d like to have). Obviously most readers won’t be able to get this card due to the Chase 5/24 rule, although there are some ways around this restriction (you should also be able to product change to this card but obviously you won’t get the sign up bonus).



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Ben
Ben

I’m guessing this will be included in 5/24

Yochiek93
Yochiek93

+1 so not much good

TU HO
TU HO

A new card in the same class of Platium and Prestige. I suppose the bonus for Sapphire Preferred will be lowered.

James Carson
James Carson

This progression of evermore elite and exclusive products reminds me of a Frasier episode where, after faking their way into an exclusive spa, Frasier and Niles discover a gold door. They access it by way of a favor from a senator, only to then discover a platinum door:

https://www.youtube.com/watch?v=3CNmrUMS5FQ&t=65

scott
scott

I love that episode! My wife and I always refer to that whenever we keep getting gold, platinum, etc.

Sarah N
Sarah N

One of my favorite episodes too!

SearchGuy
SearchGuy

Biggest question is how much airline credit it will include, and if it will come with PriorityPass membership.
Also will they give a benefit like 4th hotel night free?

Nick
Nick

Maybe automatic diamond status at Hyatt. LOL!!

Mark O
Mark O

That would be pretty sweet!

SearchGuy
SearchGuy

I would compare it to the RC card

Chris
Chris

100k UR. Looks like they are trying to give folks incentive to reset their 5/24 status.

Dave
Dave

Why would one speculate this would be included in 5/24. Surely they want sign ups for a new product to be a smashing success versus turn out flat so they’d want every applicant possible??

Nick
Nick

The new freedom unlimited was included in the 5/24 rule. No reason to think this will be any different.

NinjaX
NinjaX

yup. highly likely 5/24 unless youre private horse deek…

Lantean
Lantean

i thought it was exempt the first few days

Sco
Sco

For almost everyone here then minus 524 crowd or chase private client this is worthless news most likely. Thanks Chase.

NinjaX
NinjaX

sorry but you do know chase doesnt give 2 shits about us right? FYI…

Lrdx
Lrdx

They actually do. That’s why they *added* the rule.

NinjaX
NinjaX

i meant they dont give a crap about making products for our well being…

Geronemo
Geronemo

hahaha….I think the other guy out did u on this one mate.

James
James

So open up a private client account and get the chase cards. You can transfer the funds out of chase afterwards. It’s only $250k.

Tricoaster
Tricoaster

I am 4/24 now, can I get another cc and still be available to get the reserved card? If you are at 5/24 are still eligible?

NinjaX
NinjaX

Cool news. i would say its about damn time. wtf. took long enough. I have high expectations for the last person in line because they get to see how everyone else is doing and clearly see their weaknesses. not to mention JPM is a worldwide powerhouse bank. leader in the US. JPM also just totally beat expectations for Q2 earnings.

Then whats interesting on their earnings call is that they have increased their “loss reserves” to prepare for a growth in loan losses. why? because they have strategies to expand loan volume. Oh… You dont say JPM… Now it all makes sense to intro more CCs. They want a huge loan portfolio and lock in customers and dominate the lending market – Not Lending Club scandal style but better.

In any case, I only see this 2 ways. CSR/E to be AWESOME for one year and devalue the card like Prestige or just totally suck and nobody will keep it past year 1 bonus. Not even for just for 3x travel since people pay with points all the time. but since JPM is reading this blog I hope they make the card totally awesome and DESTROY the competition.

Tricoaster
Tricoaster

Is this worth waiting for? Was thinking bout jumping on chase Hyatt on Amex green 25k offer

Aaron
Aaron

Yes it’s worth waiting for, especially if you’re under 5/24. It’s only about a month away and we’ll probably know the exact benefits before then.

D-Man
D-Man

Maybe, from all the DPs I’ve read about AMEX you can get one (or two) of their cards and they won’t hit the bureaus until two months, so after the release of this card, August 21st, so you can (maybe) get it. Of course this is dependent on the info of this card being accurate and the accuracy of the DPs about AMEX cards.

Tim
Tim

Man I’m getting sick of the 5/24 rule considering I’m not a bigtime churner and I’ve never had the Sapphire Preferred, Ink, IHG, or United cards. I’m at 7/24 but unfortunately 6 of those were in February 2016 just before the stupid rule went into effect.

robbie darko
robbie darko

I was thinking of applying for the CSP for the 50k points, I am under the 5/24 rule. would it be a good idea to apply for the CSP then CSR and earn 150k, and have wife do the same?
Before the year is out, I would then close those cards and transfer UR to my non-fee Chase Sapphire (which is no longer offered).

RBM3
RBM3

You can transfer the points to the non-fee chase sapphire, but you need either the CSP or the Ink+ (and potentially the CSR/E) to transfer points to airlines and hotels.

A
A

This really sucks! I am way over the 5/24 rule. My spouse has the CSP and would be OK with the 5/24 rule if it wasn’t for authorized users. She’s opened 4 accounts in the past two years and has been added to a few (probably 2-3 of my new accounts) during the past two years. I think that I’ll have her apply and re-con to see if they can drop the AU accounts.

It’ll be interesting to see if she gets approved with the 5/24. She receives mailers for targeted Chase products a few times a month and gets offers for on her online account. I do not get either of these from Chase, so it’ll be interesting.

JP
JP

Lol. It will be a while I can get some Chase cards now. I just applied for 6 boa cards and bunch of other earlier this year.

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