Chase has bungled the Reserve rollout. They launched three new cards simultaneously (Reserve, JPM Reserve and refreshed Ritz Carlton). [...]
Is this offer a good deal for us? Absolutely, $450 fee with $600 rebate and 100,000 points ^. Is it a success for Chase? They won't know until renewal time in August 2017.
Chase closed an important gap in their card portfolio this year to be a serious contender to Amex who has ruled the high end of the business since decades. Amex is bound to react, but also doomed to loose marketshare, simply because they had no competition to their Plat and Centurion product line. (Which explains to relatively minimal effort they made to attract and hold Plat customers).
The current offering/bonus is far to good to make them any profits in the long run, but I doubt they will claw it back too fast. Its part of the marketing budget. I'm curious on how much it has cannibalized their CSP customer base. I was soo happy to get an offer for the CSP this year and got it. Then came the CSR, got that one too. I'm going to close the CSP come 2017, since the 150$/yr cost of the CSR will outclass the CSP.