Published on August 5th, 2016 | by Chuck74
Here’s What Chase is Telling their Bankers about the Upcoming Sapphire Reserve Card
Chase is now prepping their bankers in anticipation of the soon-to-be-released Chase Sapphire Reserved card, the high-end card coming soon.
A friend sent me screenshots of what the bankers are being told:
Recap of Details
These details are confirmation to most of what we’ve already heard.
Here’s all we know now, with new info in bold:
- Card to be released on August 21 (confirmed by banker)
- Sign up bonus of 100,000 Chase Ultimate Rewards points, $4,000 minimum spend within three months
- Card will earn the following rates:
- 3x points on travel & dining purchases worldwide
- 1x points on all other purchases
- Annual fee of $450 (confirmed by banker)
- Authorized user fee of $75 (confirmed by banker)
- $300 annual travel credit for travel purchases automatically applied to your account (more on this below)
- 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
- Exclusive events and experiences
It was confirmed by a Chase banker that Chase Private Clients will not have any special signup bonus; it’s just the regular 100,000 bonus for all.
$300 Travel Credit
The biggest news here is that the $300 travel credit will be automatically applied to your account, as per the screenshots above. This makes it far more valuable than the Ritz-Carlton $300 airline credit which requires calling in to get the credit. Also, the Reserve credit might work for all sorts of travel since it doesn’t specify airline only.
- Is the $300 credit for incidentals only, similar to the Ritz card? The language of the screenshots above sounds like it’s an airline credit for anything, but we weren’t able to verify this for certain. Being that the credit will post automatically, the Reserve is apparently using a separate system than the Ritz, so it might well be that the benefit will work entirely differently and include airfare purchases. It might be using the same system as the CNB Crystal Infinite card.
- Is there a separate $300 airline credit for each authorized user as with the CNB Crystal Infinite card or is the $300 credit shared by all? Being that there is a $75 fee for each AU, we can still hold out hope that there’ll be separate credits for each.
- Is the $300 airline credit per cardmember year or per calendar year? Most likely it will be per calendar year, as with all other cards, but we don’t know for sure.
Also interesting – via the same Chase banker – the Chase Palladium card is being discontinued in favor of the Reserve card.