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.

Remaining questions:

  • 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.

Chase Palladium

Also interesting – via the same Chase banker – the Chase Palladium card is being discontinued in favor of the Reserve card.

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Angelo
Angelo

I should also point out, that we generally fly United and Hawaiian.

Angelo
Angelo

I currently have the Amex Plat Mercedes card. Would this new CSR be a better point return card to have over my AmexP and offer identical benefits? I have the United Explorer visa and the Amex everyday Preferred. Would like to keep just two cards in the wallet. I don’t want two $450+ fee cards sitting in my wallet as I’m not a frequent travller but like to save up my points for the yearly family vacation(i.e Maui, Grand Caymon”RC hotels, etc).

PeaceandPost
PeaceandPost

haven’t seen this anywhere but does anyone think that we’ll be able to upgrade a Freedom to the CSR? I know there’s speculation about upgrading CSP but unsure about Freedom. Not even sure if I’d wanna do it anyways but just curious.

Nana
Nana

Doesn’t it say travel credit is only for incidentals?
Does that mean you get 300 for any travel like a cruise ect.?

Tad
Tad

What they *mean for it to mean* is things like bag fees, lounge charges, wifi, etc. What we’re *hoping* it will mean is any-old-thing that codes as travel.

We shall see. 🙂

David
David

Dang! I just got charged the annual fee for my Sapphire card. Luckily I’m still at 3/24, so I’m gonna definitely apply for this card when it comes out. The 100K alone is too damn good to pass up, considering I can redeem it for a Singapore Suite Class.

I’m wondering if this card will offer a secondary cardholder bonus like Sapphire and Freedom.

Jl100
Jl100

You can still cancel your Sapphire and get the annual fee back, plus it will free up credit to help instant approval of the Reserve.

Johnny

Just talked to my CPC banker and he also confirmed release on the 22nd. He asked if I wanted to apply on the frist day and I said Fck yes but I’m concerned that I might not get it because of 5/24.

He replied, “You will be fine, I’m confident we can get it for you”.

So perhaps it is not subject to 5/24 or my “relationship” with the private client banker will get me the card. Here’s hoping I get it regardless!

Deeforthree
Deeforthree

I just got the sapphire preferred last December. How long do you have to wait to be eligible for the 100k bonus for the Reserve?

William Charles

They would be considered a different product I imagine, so no wait.

Jon
Jon

Interesting that it offers No status with their litany of partners…a big differentiator with Amex

Joachim
Joachim

Agree, I have found that the National Executive Aisle access alone to be worth about $400/yr.

Eli104
Eli104

Anyone have thoughts whether you can kill one card in favor of the other and still get benefits? I’m not past 5/24 (just got Hyatt from Chase about 9 months ago), but I’d take these benefits in the short term and turn in my Sapphire or some other card to grab this one.

Tad
Tad

Everyone likes the metal cards. 🙂

Is it a given that we’ll be able to combine existing URs and get 1.5x on all of them?

William Charles

You’d think so because cards earned on the Chase Freedom/Freedom Unlimited can be pooled and transferred to travel partners.