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New Chase Sapphire Reserve Card [Pre-release speculation]

New Chase Sapphire Reserve Card [Pre-release speculation]

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Old Sep 12, 16, 9:32 am   -   Wikipost
Please read: This is a community-maintained wiki post containing the most important information from this thread. You may edit the Wiki once you have been on FT for 90 days and have made 90 posts.
 
Last edit by: mia
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Discussion continues HERE.

This card is under 5/24. You can override 5/24 by having an in-branch (only! online prequalification does NOT override 5/24) pre-approval, or by already being Chase Private Client (as in you see the "Chase Private Client" text on the login screen of the Chase mobile app.)

Landing page with bonus offer (100,000 UR after spending $4,000 in 90 days) is now live:

https://creditcards.chase.com/credit...04&IS2F=Y71UH0

Application page: https://applynow.chase.com/FlexAppWe...L3P&PROMO=DF01

100,000 UR points is worth $1,000 as statement credit, $1,500 when used for travel through the Chase portal, or potentially more if transferred to a partner.

Card features are here:https://www.chase.com/card-benefits/...reserve/travel. The card's Priority Pass includes unlimited guests.


Schumer box on 8/15/2016:
https://applynow.chase.com/FlexAppWe...g.do?card=FL3P

Chase Sapphire Reserve Ultimate Rewards Program Agreement
https://chaseonline.chase.com/resources/RPA0511_Web.pdf

Chase Sapphire Reserve Guide to Benefits
https://www.chasebenefits.com/sapphirereserve

The purchases made that you receive the $300 travel credit (or $85/$100 trusted traveler program credits) for do count towards the minimum spend, but the annual fee does not.

The card is made of the same material as the CSP, and is being shipped UPS Next Day Air Saver to everyone after production (currently (8/26) appears to have about a 3-day delay after approval before shipping.)
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Old Jul 31, 16, 10:21 am
  #151  
 
Join Date: Nov 2008
Location: the midwest
Posts: 348
I was considering signing up for a few new cards, but if this is going to happen, should I wait for that? I currently have CSP and IHG. I closed my United card a few months ago. I'm not sure what 5/24 means...I assume it means something like you can't sign up for more than 5 chase cards in a 24 month period?
johnincolumbus is offline  
Old Jul 31, 16, 11:10 am
  #152  
mia
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Originally Posted by johnincolumbus View Post
I'm not sure what 5/24 means...I assume it means something like you can't sign up for more than 5 chase cards in a 24 month period?
Five cards from ALL issuers in the past two years. Read THIS Wikipost for a more complete answer.
mia is offline  
Old Jul 31, 16, 1:22 pm
  #153  
 
Join Date: Aug 2015
Location: BGR/PWM/ALB
Programs: AA, BA, UA, LH, AF/KLM, SPG Gold, Hyatt Plat, Hilton Gold, IHG Plat, Marriott Gold
Posts: 29
Originally Posted by sdsearch View Post
Chase never announced this 5/24 stuff publicly, so if you want "confirmation or denial" you have to wait for actual data points, which will have to wait for people to actually be able to apply for this card.

However:

This a Chase non-co-branded card. Chase's personal non-co-branded cards have had 5/24 without any exception since May 2015. Also, the one time since then when Chase has had a new non-co-branded card introduced (Freedom Unlimited), 5/24 was applied to it from the moment it went public online (with any possible exceptions having to do with in-branch obscurities like always).

So based on all that, why would you think that 5/24 would not apply to this card?
I can think of 2 big reasons. 1) We're all irrationally hopeful because this bonus sounds great and almost all of us are SOL.
2) This is more likely a positive outcome: if Chase wants to drive initial signups, not opening the card to 5/24 customers will massively cut back on the available pool. The majority of the credit-card using population is not going to be interested in a $300+ annual fee card (heck, most of them are Dave Ramsey fans and will never get a card with a fee at all). From a bookkeeping perspective, Chase would likely see fairly poor signups for this card if 5/24 violators were excluded, whereas with the Freedom Unlimited there was never really any chance of that flopping (no-AF, easy 1.5% cash back, and nice sign up bonus--appealing to a much wider audience).

This isn't to say I think Chase WILL let us in, but to me that would be the why if they did--making sure as much of this card's limited audience can get it as possible.
lobstahpotts is offline  
Old Jul 31, 16, 1:25 pm
  #154  
 
Join Date: Aug 2015
Location: BGR/PWM/ALB
Programs: AA, BA, UA, LH, AF/KLM, SPG Gold, Hyatt Plat, Hilton Gold, IHG Plat, Marriott Gold
Posts: 29
Originally Posted by websteth View Post
I don't think I have ever seen a product change to offered a signup bonus. I've done a couple PC just to avoid another pull and I've never been offered a bonus. The only exception I will say is AMEX will sometimes target a change from a lower card to a higher version (Delta Gold to Delta Platinum) but you then will not get the larger signup bonus that is offered to new card holders.
At this risk of going off topic, because I agree with your general premise that Chase will not offer points for an upgrade, it is worth noting that you can get the Amex upgrade offers IN ADDITION TO the initial signup bonus for a higher end card. This is one of the best work-arounds to Amex's once per lifetime policy. To extend your example: open Delta Plat, get reward and cancel after a year. Open Delta Gold, get reward, and hold onto hoping for upgrade offer back to Delta Plat. I assume you already know this, but for anyone else looking in hopefully this opens a new points-earning avenue to you!
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Old Jul 31, 16, 1:27 pm
  #155  
 
Join Date: Aug 2015
Location: BGR/PWM/ALB
Programs: AA, BA, UA, LH, AF/KLM, SPG Gold, Hyatt Plat, Hilton Gold, IHG Plat, Marriott Gold
Posts: 29
Originally Posted by slivrflyr View Post
If this is a temp high bonus what's your guys speculation that it's still around until at least Dec?

I plan on holding out for a bit since I just snagged a chase card last month. 4/24 now.
We have no firm reason to assume this, but December 31 would be a logical cutoff date.
On the flipside, most offers like the SPG summer high offer only last a month or so.

If you're still at 4/24 and are able to meet the minimum spend, I don't see the advantage in waiting. You can still get approved for your fifth card, and Chase will approve 2 applications for the same person in 30 days (it sounds like you may even be outside that window by the time this card drops).
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Old Jul 31, 16, 5:05 pm
  #156  
 
Join Date: Jul 2016
Posts: 435
Originally Posted by lobstahpotts View Post
I can think of 2 big reasons. 1) We're all irrationally hopeful because this bonus sounds great and almost all of us are SOL.
2) This is more likely a positive outcome: if Chase wants to drive initial signups, not opening the card to 5/24 customers will massively cut back on the available pool. The majority of the credit-card using population is not going to be interested in a $300+ annual fee card (heck, most of them are Dave Ramsey fans and will never get a card with a fee at all). From a bookkeeping perspective, Chase would likely see fairly poor signups for this card if 5/24 violators were excluded, whereas with the Freedom Unlimited there was never really any chance of that flopping (no-AF, easy 1.5% cash back, and nice sign up bonus--appealing to a much wider audience).

This isn't to say I think Chase WILL let us in, but to me that would be the why if they did--making sure as much of this card's limited audience can get it as possible.
With due respect, your reasoning is not sound. Why would Chase want a flood of 5/24 customers when it likely knows these folk will take the bonus and cancel the card in year 2? Chase likely loses money on this card in Year 1 while beginning to make money in year 2 onwards.
edealinfo12345 is offline  
Old Jul 31, 16, 5:08 pm
  #157  
 
Join Date: Jul 2016
Posts: 435
1. Do you think the 100K bonus will be a permanent offer instead of a limited time period offer that will likely be pulled after the initial promo period?

2. Does anyone have the scoop on the spending required to qualify for the 100K bonus? Since the Chase Sapphire Preferred (CSP) requires $4K over 3 months, my speculation is that the Reserve would require $5k over either 3 or 4 months. I hope I am wrong and there is a lower threshold.
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Old Jul 31, 16, 6:34 pm
  #158  
mia
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Originally Posted by edealinfo12345 View Post
1. Do you think the 100K bonus will be a permanent offer....
No. The competing cards are American Express Platinum and Citi Prestige both currently offering 40,000 points.(Targeted offers are higher.) Chase will offer a higher initial bonus to attract free publicity and generate buzz, but in the long run they will offer only as many points as required to meet their sales targets.
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Old Jul 31, 16, 9:22 pm
  #159  
 
Join Date: Jan 2016
Location: STL
Programs: AA
Posts: 163
As an AA flyer, I use the Barclays Aviator Silver card and the Citi Prestige card exclusively. Prestige is dropping Admirals Club access as of next July and the speculation is that Citi lost AC exclusivity (probably to the second AA credit card bank - Barclays).

Unless Chase has their own Centurion esque lounges, I would think that they would want to add one of the three major carrier lounge access to compete against AE Platinum cards (rather than just Priority Passes). This is wishful thinking but I doubt that Chase would want to cannibalize their own United cards by giving access to United Clubs. So why not give AC access for the new Reserve/Elite card holders (essentially another blow to Citi). I know, I know, they will probably give Barclays a card with AC access.... Again, wishful thinking
moonwoo is offline  
Old Aug 1, 16, 10:07 am
  #160  
 
Join Date: Jul 2016
Posts: 141
So I just got into this credit card game. How does the 5/24 rule work? Within the last few months, I got 4 cards: Chase Freedom, CSP, Chase Palladium, and Citi Prestige. And I converted my CitiAAdvantage card into a Double Cash card.

I think I qualify for this new Chase Reserve card but want to check with you experts.

Also, I want to cancel some of these new cards (too many to keep track of). If I don't care about credit (other than qualifying for new cards), is there any downside to cancelling some of them after I get my signup bonus? Thanks!
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Old Aug 1, 16, 10:17 am
  #161  
mia
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Originally Posted by darkhound View Post
How does the 5/24 rule work?
Please read THIS Wikipost. To see where you are for Chase 5/24 purposes you need to know the opening dates of all cards, from all issuers, for the past ~24 months.
mia is offline  
Old Aug 1, 16, 10:23 am
  #162  
 
Join Date: Sep 2012
Posts: 4,404
Originally Posted by darkhound View Post
So I just got into this credit card game. How does the 5/24 rule work? Within the last few months, I got 4 cards: Chase Freedom, CSP, Chase Palladium, and Citi Prestige. And I converted my CitiAAdvantage card into a Double Cash card.

I think I qualify for this new Chase Reserve card but want to check with you experts.

Also, I want to cancel some of these new cards (too many to keep track of). If I don't care about credit (other than qualifying for new cards), is there any downside to cancelling some of them after I get my signup bonus? Thanks!
You aren't over 5/24, but I don't know if you'll run into problems with 3 recent Chase applications.
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Old Aug 1, 16, 10:27 am
  #163  
 
Join Date: Jul 2016
Posts: 141
Originally Posted by mia View Post
Please read THIS Wikipost. To see where you are for Chase 5/24 purposes you need to know the opening dates of all cards, from all issuers, for the past ~24 months.
Thanks. That post doesn't appear to address converted cards, like my Citi Aadvantage to double cash conversion. All my new cards were obtained within the last 3 months.

Update: I just did a little more research and it seems well-settled that JPMorgan/Chase private clients get to bypass the 5/24 rule. The Wiki should probably be updated to reflect that (I don't yet have privileges). I forgot that I signed my wife up as an authorized user, so I am at 5/24. I'll confirm if my private client status allows to me to bypass the 5/24 rule for the Reserve, once it comes out.

Originally Posted by DaveInLA View Post
You aren't over 5/24, but I don't know if you'll run into problems with 3 recent Chase applications.
Thanks!

Last edited by philemer; Aug 1, 16 at 11:40 am
darkhound is offline  
Old Aug 1, 16, 11:48 am
  #164  
 
Join Date: Aug 2012
Posts: 521
I know it's unknowable, but what is the group's speculation on how long the 100k bonus will last? I had a spate of new cards opened early '15 that will be rolling off by spring of '17. I'd love to get this card, but afraid 5/24 will keep me out until after the big bonus is gone. Anybody have any comforting words to keep my wishful thinking alive?
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Old Aug 1, 16, 12:44 pm
  #165  
 
Join Date: Mar 2016
Posts: 28
Originally Posted by darkhound View Post
Update: I just did a little more research and it seems well-settled that JPMorgan/Chase private clients get to bypass the 5/24 rule. The Wiki should probably be updated to reflect that (I don't yet have privileges). I forgot that I signed my wife up as an authorized user, so I am at 5/24. I'll confirm if my private client status allows to me to bypass the 5/24 rule for the Reserve, once it comes out.

Thanks!
As I understand it (and doublechecked against the wiki), adding your wife as an authorized user means that it counts as her opening an account; it shouldn't count as an extra account for you.
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