Chase Sending Automatic $100 Statement Credit To Sapphire Reserve Cardholders To Partially Offset Annual Fee

Update 7/12/21: The $100 credits are ending in July – anyone with a renewal from August 1, 2021 and onward will pay the full $550 annual fee.

Update 6/30/21: Reader Andy heard from Chase secure messages that this will continue for July as well.

Update 6/5/21: Annual fee are still posting at $550, but they are still sending out $100 statement credits for those whose annual fees are posting in June. Unknown how long it’ll last. Hat tip to reader Sara

Update 5/1/21: Annual fee are still posting at $550, but they are still sending out $100 statement credits for those whose annual fees are posting in May. Hat tip to ruxpin810

Update 4/2/21: Annual fees are posting at $550 again, but cardholders are receiving this secured message again stating that they will receive a $100 statement credit.

Original Post 4/1/2020:

Many readers got a Secure Message from Chase on their Sapphire Reserve card telling them that they’ll be crediting them back $100 from their $550 annual fee due to the COVID-19 situation.

We recognize this is a difficult time for everyone. As a way to help, we’re providing you a one-time $100 statement credit toward the 2020 $550 annual fee on your Reserve credit card. On an upcoming billing statement (based on your renewal date), you’ll see a $550 charge for the annual fee, followed by a $100 statement credit. We will continue to bill the $550 annual fee in 2021. Because this credit only applies to open Reserve accounts, if you’ve closed your Reserve account or traded to another credit card before your renewal, you will not receive the $100 statement credit. We know COVID-19 has affected people in many different ways. Please check chase.com/StayConnected for updates and helpful ways to stay connected to your accounts.

As of now, they are only crediting those whose annual fees are due between April 1 and July 1 (including those due on July 1). The credit will show after the annual fee shows up.

Oddly, some readers who have annual fees due on June 1 and July 1 did not get the Secure Message. Perhaps the message is being sent out in batches.

The implication is that since many of the Reserve benefits are travel-related, and people aren’t getting those benefits, they are minimizing the fee. I wouldn’t be surprised to see other issuers make similar moves, or at least to offer such credits upon request. Worth calling in.

Thanks to all readers who sent this one in.

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johndunn
johndunn

I received a snail mail letter and it states they will be raising the fee to $550, effective on the 9/1/21 renewal.

Sam
Sam

I received the same letter today for my 11/1 renewal.

Gerald
Gerald

Got the same for my 8/1 renewal. Also got a glossy brochure telling me what great benefits I got: $300 travel credit, $0 DoorDash credit, $0 Peloton credit. It implies that PYB will disappear after 9/30/21. Also, gas stations and grocery stores counting towards the travel credit will end on 12/31/21, as will DoorDash and Peloton. So it looks like it will go back to pre-COVID benefits with an increased AF of $550.

Rick
Rick

So everyone who got the card after the fee increase but before the pandemic is screwed? People who had the card before the fee increase got to keep the $450 fee in 2020 and got a $100 credit in 2021. Everyone who applied in January – March 2020 has to suck it up. Man, I can’t catch a break.

Jordan (Professional MSer)
Jordan (Professional MSer)

LOVE YOU CHASE

miafll
miafll

Does not seem the $100 statement credit would extend to Sept 1st billing. Just got a paper letter from Chase informing the AF will be $550 and be billed on Sept 1st. Then it goes on in listing out all the existing benefits WITHOUT a single word about the $100 statement credit now extended to those whose AFs billed on July 1st.

Since the primary benefit to us is the lounge access which we used a lot in the past on international trips in 3 Continents, with the outlook of travel for 2022 is still very iffy, there goes the main purpose for this card.

We also cashed out 80% of the UR points thru PYBs at end of April. With the CSP the PYB still works thru Sept 30 even though at 1.25 only but also CSP AF is only $95, with the 80 to 100K sign up bonus to boot.

The $300 travel credit would not be available until after Dec statement, that might be too far away to still get partial AF refund thru product change.

We did not get a retention offer last year either. There is just not enough positives for us to keep the CSR for the 6th year. It would be a good time to finally ditch it then later get a CSP instead if 100K offer can last that long.

Andy
Andy

Is this the booklet type letter? I got that too with no mention of credit and I am getting $100 credit for July renewal. I’d recommend waiting until your renewal if $100 extra is dealbreaker.

Hon
Hon

I opened my CSR a couple months ago and got this e-mail today:
—————————————————————————————————————————————————-
Important: A $100 statement credit toward the annual fee on your Reserve credit card
Sign in to read your new secure message

Here’s what it’s about

Important: A $100 statement credit toward the annual fee on your Reserve credit card

We encourage you to sign in to read your Secure Message because it contains specific information about your account.

View your secure message in two ways

From Chase Mobile, go to your profile and choose “Secure Message Center”
At chase.com/SecureMessages, just sign in to your account.
The secure message will expire on XX/XX/XXXX.
—————————————————————————————————————————————————-
No secure message or $100 credit because I opened the CSR when it was already $550 but weird that I got one and those who did open when it was $450 did not get one.

Peter
Peter

I was hoping this will stick around in September for my CSR renewal, but then I PC’ed my card to make room for a new CSP and then got a $112.50 annual fee refund. Even better!

Sub
Sub

How long after PC did it take for you to receive the partial AF refund?

Peter
Peter

A couple days, at the most. Transaction date shows up as last fall so that’s not very helpful.

Tig ol Bitties
Tig ol Bitties

I did a product change to CSR in june, still haven’t had the AF hit, will i still get this credit in july?

Andy
Andy

This credit is only for those who had CSR while AF was 450. Others unfortunately do not qualify.

P
P

Meanwhile, Amex is set to increase annual fee and provide “lifestyle” rebates.

Andy
Andy

Chuck I just got secure message from chase that I’ll be getting $100 refund for the annual fee renewing in July.

SU
SU

does this apply to people who get this card now or 2 months ago or new card holder this year in general?

Sara
Sara

Neither. It’s for those who signed up when the AF was still $450. No one else, unfortunately.