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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 Aug 19, 16, 4:13 pm
  #781  
 
Join Date: Mar 2013
Posts: 618
Originally Posted by Dieuwer View Post
Where does the $4583 come from?
Last year I spend $17,956.12 with my CSP...
$4583 came from doing my math wrong. The real number is $2750. If you pay $2750 on a combination of travel and dining a year on your CSP it's worth getting CSR and dumping th CSP.

Let's take the numbers:
You need to make up $55 dollars in annual fees after accounting for the $300 credit.

If you spend $2750 on your CSP you will earn 5500 points with a min value of $0.0125 each netting you $68.75 of value.

Spending the same $2750 on your CSR will now earn you 8250 points at a minimum redemption value of $0.015 each earning you $123.75 of value--exactly $55 more than the CSP. Everything after that is gravy.

This cards perks will not last long IMO.

Anybody who has the CSP (and is getting value net the annual fee) should get the CSR.
jags86 is online now  
Old Aug 19, 16, 4:44 pm
  #782  
 
Join Date: Feb 2016
Posts: 215
Originally Posted by josephstern View Post
As far as usage of credit card fee rebates and privileges:

On the one hand, we all know of friends and family who recognize the benefits of a card, get it, and use the benefits for a bit of time, and then forget, their patterns change, the card changes, and the person is just too inertial to get over the hump of getting a new card, moving over the automated charges, setting it up with a new bank account, learning a new online statement format, etc. Credit card providers know that customers are sticky in this regard (like changing cell companies or insurance carriers or TV providers).

On the other hand, good benefits on good cards typically erode. The CSP lost it's 7% rebate, it's extra first Friday points, etc. Prestige is losing some lounge, changing the 4th night, no golf, etc. Platinum has been decimated in tons of ways. So that says that these providers are paying attention, and that enough customers are using the benefits to cost them real money. If the benefit users were only a small percentage of the customer base, they wouldn't bother changing the benefits because they could amortize the costs over the whole base including the non-users.

So I surmise from this that the average customer (from us super-users to those who use virtually no benefits) is costing these companies real money.
I think it's basically a case of "why should we keep the benefits?". Once you have a customer base, you can slowly chip away benefits until you see that people are no longer renewing the card. It's typical bean counters trying to squeeze out as much profit as possible. Cards start out generous and get less generous over time as companies want more profit.

Of course, yes, sometimes that corresponds with super generous cards being used by too many people, or abused, or both, but I think sometimes it's just the company being greedy. Either way, it's a pattern for sure.
kdm31091 is offline  
Old Aug 19, 16, 5:06 pm
  #783  
 
Join Date: May 2016
Posts: 5
How to get out of the CSP?

I have the chase freedom, freedom unlimited , and Csp. Obv want the CSR now. I've heard people can downgrade from the CSP to Freedom cards, but what if you already have them? Do I just have to cancel the CSP and thus hurt my credit ?
ddevito351 is offline  
Old Aug 19, 16, 5:11 pm
  #784  
 
Join Date: Jun 2013
Posts: 523
Originally Posted by ddevito351 View Post
I have the chase freedom, freedom unlimited , and Csp. Obv want the CSR now. I've heard people can downgrade from the CSP to Freedom cards, but what if you already have them? Do I just have to cancel the CSP and thus hurt my credit ?
It is possible to have multiple Freedoms.
aradisc is offline  
Old Aug 19, 16, 5:41 pm
  #785  
 
Join Date: Jul 2011
Location: SF Bay Area
Programs: UA MileagePlus (Premier Gold); Hilton HHonors (Gold); Chase Ultimate Rewards; Amex Plat
Posts: 3,502
Originally Posted by ddevito351 View Post
I have the chase freedom, freedom unlimited , and Csp. Obv want the CSR now. I've heard people can downgrade from the CSP to Freedom cards, but what if you already have them? Do I just have to cancel the CSP and thus hurt my credit ?
Unless your CSP is one of your oldest cards, it's not going to hurt your credit. May even help if you get a new account off the records because it's dragging down your average account age.
STS-134 is offline  
Old Aug 19, 16, 6:00 pm
  #786  
 
Join Date: Mar 2014
Posts: 24
Originally Posted by Thunderroad View Post
Well, seems like a YMMV type of thing. Personally, I could definitely see keeping it beyond the first year for the $300 travel credit and the 3X spending for travel and dining, especially since the Citi Prestige is losing its AA lounge access perk and UR offers better travel partners for me than TY and Amex. Also, the alternative option of getting the expensive AA Citi card that includes lounge access is going away since Citi is about to limit access to cards within the same affiliate families of cc's (e.g., AA, Hilton) unless you wait for two years (I know I'm not stating it quite correctly, but it's something like that).

Given the $450 price and since Chase is making this an appealing card that's supposed to compete with other high-end cards, I'm hoping that the 5/24 rule will be waived on the theory that lots of folks are like me and will hold onto it. But I should know better than to hope for such favors from the cc gods...
Kept re-reading that line above about the "expensive AA Citi card w/ lounge access" going away. Only one I know of is the AAdvantage Executive card that I just picked up specifically for that perk Unless you're referring to an older product no longer offered?
geekyjeff is offline  
Old Aug 19, 16, 6:04 pm
  #787  
 
Join Date: Oct 2010
Location: Santa Barbara, CA
Posts: 1,277
Originally Posted by Thunderroad View Post
Well, seems like a YMMV type of thing. Personally, I could definitely see keeping it beyond the first year for the $300 travel credit and the 3X spending for travel and dining, especially since the Citi Prestige is losing its AA lounge access perk and UR offers better travel partners for me than TY and Amex. Also, the alternative option of getting the expensive AA Citi card that includes lounge access is going away since Citi is about to limit access to cards within the same affiliate families of cc's (e.g., AA, Hilton) unless you wait for two years (I know I'm not stating it quite correctly, but it's something like that).

Given the $450 price and since Chase is making this an appealing card that's supposed to compete with other high-end cards, I'm hoping that the 5/24 rule will be waived on the theory that lots of folks are like me and will hold onto it. But I should know better than to hope for such favors from the cc gods...
Originally Posted by geekyjeff View Post
Kept re-reading that line above about the "expensive AA Citi card w/ lounge access" going away. Only one I know of is the AAdvantage Executive card that I just picked up specifically for that perk Unless you're referring to an older product no longer offered?
Pretty sure that's the card, but Citi is only limiting the signup bonuses from the cards within the family, not getting the card for the benefits. There would be nothing stopping you from getting the card and forgoing a bonus if you wanted lounge access.
penner42 is offline  
Old Aug 19, 16, 6:10 pm
  #788  
 
Join Date: Nov 2014
Location: NYC
Posts: 581
Originally Posted by STS-134 View Post
Unless your CSP is one of your oldest cards, it's not going to hurt your credit. May even help if you get a new account off the records because it's dragging down your average account age.
It won't help with FICO scores because closed accounts are included in the Average Age of Accounts.
NYCRuss is offline  
Old Aug 19, 16, 6:16 pm
  #789  
 
Join Date: Jul 2011
Location: SF Bay Area
Programs: UA MileagePlus (Premier Gold); Hilton HHonors (Gold); Chase Ultimate Rewards; Amex Plat
Posts: 3,502
Originally Posted by NYCRuss View Post
It won't help with FICO scores because closed accounts are included in the Average Age of Accounts.
Then closing it won't hurt either, regardless of whether it was old or new.
STS-134 is offline  
Old Aug 19, 16, 6:42 pm
  #790  
 
Join Date: Nov 2014
Location: NYC
Posts: 581
Originally Posted by STS-134 View Post
Then closing it won't hurt either, regardless of whether it was old or new.
Not for ten years.^
NYCRuss is offline  
Old Aug 19, 16, 6:46 pm
  #791  
 
Join Date: Oct 2011
Posts: 4,167
Originally Posted by Nehawk View Post
7 Nights at a category 7 Hyatt does sound pretty amazing. Especially with Diamond status.

If only there was a way to spend your way to Hyatt Diamond like there is with Hilton Diamond.
Superorb is offline  
Old Aug 19, 16, 7:26 pm
  #792  
 
Join Date: Mar 2014
Posts: 24
Originally Posted by penner42 View Post
Pretty sure that's the card, but Citi is only limiting the signup bonuses from the cards within the family, not getting the card for the benefits. There would be nothing stopping you from getting the card and forgoing a bonus if you wanted lounge access.
Ah thanks for the clarification. Strictly talking about the points impact. My mind was reading it differently. Long week.
geekyjeff is offline  
Old Aug 19, 16, 7:32 pm
  #793  
 
Join Date: Mar 2013
Programs: DL PM, MR Titanium/LTP, Hilton Diamond
Posts: 7,940
Originally Posted by kdm31091 View Post
I think it's basically a case of "why should we keep the benefits?". Once you have a customer base, you can slowly chip away benefits until you see that people are no longer renewing the card. It's typical bean counters trying to squeeze out as much profit as possible. Cards start out generous and get less generous over time as companies want more profit.

Of course, yes, sometimes that corresponds with super generous cards being used by too many people, or abused, or both, but I think sometimes it's just the company being greedy. Either way, it's a pattern for sure.
This post by Jeffsetter is one of the best I've seen on BA in recent years. Describes the current atmosphere at all 3 to a tee and I fully expect the cycle to continue and speaks to your post exactly.

http://www.jeffsetter.com/citi-customer-acquisition/
Duke787 is offline  
Old Aug 19, 16, 8:02 pm
  #794  
 
Join Date: May 2012
Location: Michigan
Programs: UA Plat Marriott Gold Hyatt Diamond
Posts: 195
Originally Posted by STS-134 View Post
Assets in a brokerage account count toward your $250k CPC total too, as do actively managed Chase funds (which, let's face it, is what Chase really wants you to do with your money).



Well presumably you wouldn't tell the advisor your true plans until after you were approved for and received the card.

You do realize their are costs to close a brokerage account right?
Jalen500 is offline  
Old Aug 19, 16, 9:32 pm
  #795  
 
Join Date: Jul 2011
Location: SF Bay Area
Programs: UA MileagePlus (Premier Gold); Hilton HHonors (Gold); Chase Ultimate Rewards; Amex Plat
Posts: 3,502
Originally Posted by Jalen500 View Post
You do realize their are costs to close a brokerage account right?
Typically around $50-100, yes. And for 100k bonus UR points, you'll come out way ahead.
STS-134 is offline  

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