This isn’t the kind of overnight news I want to wake up to here in Europe. I have had the CSR since it first came out. Having tracked the benefits used from various cards, the $200-$300 in annual restaurant expenses covered by the PP benefit for myself and my wife helped me justify keeping the CSR even as the annual fee increased. Is there any reason now to keep it vs. downgrading to the CSP? I have regular PP UA my Amex Plat, can get 3X dining on the CSP or CFU, can put hotel spend on my AA Executive (10X for AA Hotels) or hotel brand specific cards (IHG or Hilton Aspire), airfare on the Amex Plat, and whatever other travel spend I used to put on the CSR for 3X earnings would just earn 2X.

Is there anything I am missing that the CSR would offer over the CSP that would justify keeping it?

And since I received my last Sapphire bonus more than 48 months ago, I can presumably also get a new SUB if I re-apply instead of downgrading.

The price differential between the CSR and the CSP would in my case probably better spent on getting my spouse a Plat AU card. Until now I had really not felt the need for it as we could have a meal at our most commonly used connection points (SEA, SFO) courtesy of Chase/PP. Now I might want to rethink that strategy (though I also just got the AA Executive with AA/AS lounge access, so maybe I’ll see how that works out for us).

I have a feeling Chase will see a lot of CSR downgrades or outright cancellations starting in July unless they somehow offer some additional benefits to make the CSR more attractive.