There have been excited rumblings about a new credit card from Chase for the past several days. Some of it sounded too good to be true — that it offers a 100,000-point signup bonus, that cardholders earn 3x points on all travel and dining purchases, and that it comes with an annual $ 300 travel credit. Well, Chase has now confirmed the news with us directly: The new card, Chase Sapphire Reserve, will indeed be launching next week and it is perhaps the best travel credit card ever to be offered.
As you may have gathered from previous posts, I’m a really big fan of Chase’s Ultimate Rewards program — and of the cards that earn you some of the most valuable transferrable points in the biz: the Chase Sapphire Preferred Card and the Ink Plus Business Card. This premium travel rewards card, even with its hefty $ 450 annual fee ($ 75 for authorized users), offers undeniably attractive perks unlike any other in the biz.
First of all, the card includes a 100,000-point bonus after you spend $ 4,000 in the first three months. Officially, Chase values these points at $ 1,500, since you can redeem them for flights, hotels, rental cars and cruises at a rate of 1.5 cents each when booking travel via the Ultimate Rewards portal, which is unique to the Reserve card. However, if you opt to take advantage of some of Chase’s most lucrative transfer partners, you can easily get at least 2.1 cents per point in value, making this bonus worth $ 2,100 (in my book).
You also get a $ 300 annual travel credit, which — unlike the similar credits offered with cards like Citi Prestige, American Express Platinum and the refreshed Ritz-Carlton Rewards Credit Card — can be applied to any expenses that are coded as travel, including hotels, airfare, taxis, trains and many other charges (which we’ll detail in a future post). Additionally, you’ll earn 3x Ultimate Rewards points on all travel and dining worldwide, giving you a whopping 6.3% return on these charges, which is unmatched by any other product. And these 3x earnings are uncapped, so this is the card you’ll want to use for all of your travel and dining purchases, both when it comes to business and pleasure. You’ll earn 1 point per dollar on all other charges. There are no foreign transaction fees.
As for travel perks, the Sapphire Reserve Card includes a full Priority Pass Select membership, giving you access to more than 900 airport lounges around the world. It’s unclear whether guests are included, as they are with Citi Prestige, but we should be able to clarify that point within the next few days. And, as this is a Visa Infinite card, you’ll have access to those perks too, including a $ 100 discount on round-trip domestic airfare for 2+ travelers, a $ 100 Global Entry fee credit (which includes TSA PreCheck), primary rental car insurance, trip cancellation and delay coverage, lost luggage reimbursement and much more.
With all these perks, the Chase Sapphire Reserve card is an absolute no-brainer. Now I do realize that the unveiling of this card introduces many questions for consumers. We’ll be addressing many of your questions in future posts, but in the meantime, please share your questions in the comments section below and we’ll reach out to Chase for clarification. And stay tuned for more details next week!
Will you be signing up for the Chase Sapphire Reserve card?
Chase Sapphire Preferred® Card
|Intro APR||Regular APR||Annual Fee||Balance Transfer Fee||Credit Rating|
|N/A||16.24%-23.24% Variable||Introductory Annual Fee of $ 0 the first year, then $ 95||See Terms||Excellent Credit|
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