Jan 14, 2020, 9:39 am
Last edit by: philemer
Use this thread to discuss the Sapphire Reserve card offer.
Application page with bonus offer (60,000 UR after spending $4,000 in 90 days):
https://creditcards.chase.com/rewards-credit-cards/sapphire/reserve?CELL=6TKX
There are separate threads to discuss:
$300 Travel Credit
Priority Pass
Concierge Service
Travel Insurance
Global Entry/TSA PreCheck reimbursement.
This card is subject to Chase's 5/24 policy. For information on (and discussion of) the policy, see Applying for Chase Credit Cards, 2017 onward. You can override 5/24 by having an in-branch pre-approval (only! online prequalification does NOT override 5/24), 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.)
As of August 2018, all Chase Sapphire cards are (with limited exceptions) subject to an additional restriction:
See Sapphire (CSR & CSP) 48 months between bonuses, August 2018 for details and ongoing discussion.
50,000 UR points is worth $500 as statement credit, $750 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. (verified in Post #2635 ; also verified by Chase)
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 card is made of the same material as the CSP, and is being shipped UPS Next Day Air.
How to determine your account number, expiration date, and shipping date before receiving the card
(** Note that this no longer seems to work checking on 5/18 - the account number in the secure message header is XXXXXX'd out except for last 4 digits)
(** Also I do not see any recent comments 5/18 on timely shipping or shipping method)
1. Send a secure message (SM) from the account. A common SM would be to ask about the sign-up bonus and last day to complete the spend requirement (which appears to be approximately 3.5 months from the date of approval).
2. Check the Sent Messages folder, and the full account number will be listed in the header of the message that you just sent. The number starts with 414720.
3. The expiration date is five years from the month of approval. So, if you were approved on August 31, 2016, your expiration date will be August 2021.
4. CVV2 number is not available, so if a merchant requires it for payment, you must wait for the physical card.
5. According to many reports, the card is not activated until it is shipped, which happens to be via UPS Next Day Air Saver (if shipped on Friday, you will not receive the card until Monday or the next business day). To find out when it is shipped, go to My UPS and sign up for a free account. You'll be notified when a shipment is destined for your address.
6. Contrary to what the customer service rep may tell you about the delivery of the card—such as the card will take 1-2 weeks or that expedited shipping is not available—the card is actually expedited and shipped via express shipping, as mentioned in #5. There is no need to ask for expedited shipping.
Priority Pass Select
Click HERE to read the separate thread discussing this benefit.
As soon as the account shows up online:
1. Click on Go To Ultimate Rewards.
2. Scroll down to the very bottom left and click on "Card Benefits"
3. Activate Membership to request card.
4. Card will take 1-2 weeks and can't be expedited, but members have reported success in charging the lounge access to the card and requesting a refund from Customer Service.
5. PP cards will be issued for the account holder and any AU(s)
6. According to Chase, CSR's PP membership includes guest access.
Duplicate Card
1. If you receive the plastic card, wait for the metal card to arrive automatically.
2. If you receive the metal card, send SM or call to request plastic card (for use with overseas merchants that require a card imprint, because you hate metal cards, whatever).
3. DO NOT request a replacement card (especially under any pretense that the card was lost or misplaced).
4. Both cards will have the same number, expiration and CVV. Both cards will work.
5. It appears that all CSR cards are sent overnight once produced, including the plastic 'replacement' cards. No need to request expedited shipping.
Authorized User Card:
1. $75 each authorized card each year.
2. Same Priority Pass membership as the main card.
3. Same earning rate on spending. Same fringe benefits as the main card like purchase, car rental and travel insurance etc.
4. No additional Global Entry/TSA credit. Only one credit for the entire account.
5. No additional annual travel credit.
How to get bonus points on the first statement
Act very quickly; you may have less than a week. It depends on the timing of your first statement and when you receive the card. 4K in spending has to clear (not pending) about a week before the statement cuts in order to get the bonus points on that statement. Under "account details" you can see your first payment due date. Your closing date is usually three calendar days after your due date. For instance, if your very first bill is due October 20 that statement would close on September 23, and spending would have to clear by approximately September 16 in order to get the bonus points.
The prior, archived version of this thread can be found here: https://www.flyertalk.com/forum/chase-ultimate-rewards/1814294-chase-sapphire-reserve-csr-50k-ur-benefit-reductions-august-2018-a.html
Application page with bonus offer (60,000 UR after spending $4,000 in 90 days):
https://creditcards.chase.com/rewards-credit-cards/sapphire/reserve?CELL=6TKX
There are separate threads to discuss:
$300 Travel Credit
Priority Pass
Concierge Service
Travel Insurance
Global Entry/TSA PreCheck reimbursement.
This card is subject to Chase's 5/24 policy. For information on (and discussion of) the policy, see Applying for Chase Credit Cards, 2017 onward. You can override 5/24 by having an in-branch pre-approval (only! online prequalification does NOT override 5/24), 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.)
As of August 2018, all Chase Sapphire cards are (with limited exceptions) subject to an additional restriction:
The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months.
50,000 UR points is worth $500 as statement credit, $750 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. (verified in Post #2635 ; also verified by Chase)
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 card is made of the same material as the CSP, and is being shipped UPS Next Day Air.
How to determine your account number, expiration date, and shipping date before receiving the card
(** Note that this no longer seems to work checking on 5/18 - the account number in the secure message header is XXXXXX'd out except for last 4 digits)
(** Also I do not see any recent comments 5/18 on timely shipping or shipping method)
1. Send a secure message (SM) from the account. A common SM would be to ask about the sign-up bonus and last day to complete the spend requirement (which appears to be approximately 3.5 months from the date of approval).
2. Check the Sent Messages folder, and the full account number will be listed in the header of the message that you just sent. The number starts with 414720.
3. The expiration date is five years from the month of approval. So, if you were approved on August 31, 2016, your expiration date will be August 2021.
4. CVV2 number is not available, so if a merchant requires it for payment, you must wait for the physical card.
5. According to many reports, the card is not activated until it is shipped, which happens to be via UPS Next Day Air Saver (if shipped on Friday, you will not receive the card until Monday or the next business day). To find out when it is shipped, go to My UPS and sign up for a free account. You'll be notified when a shipment is destined for your address.
6. Contrary to what the customer service rep may tell you about the delivery of the card—such as the card will take 1-2 weeks or that expedited shipping is not available—the card is actually expedited and shipped via express shipping, as mentioned in #5. There is no need to ask for expedited shipping.
Priority Pass Select
Click HERE to read the separate thread discussing this benefit.
As soon as the account shows up online:
1. Click on Go To Ultimate Rewards.
2. Scroll down to the very bottom left and click on "Card Benefits"
3. Activate Membership to request card.
4. Card will take 1-2 weeks and can't be expedited, but members have reported success in charging the lounge access to the card and requesting a refund from Customer Service.
5. PP cards will be issued for the account holder and any AU(s)
6. According to Chase, CSR's PP membership includes guest access.
Duplicate Card
1. If you receive the plastic card, wait for the metal card to arrive automatically.
2. If you receive the metal card, send SM or call to request plastic card (for use with overseas merchants that require a card imprint, because you hate metal cards, whatever).
3. DO NOT request a replacement card (especially under any pretense that the card was lost or misplaced).
4. Both cards will have the same number, expiration and CVV. Both cards will work.
5. It appears that all CSR cards are sent overnight once produced, including the plastic 'replacement' cards. No need to request expedited shipping.
Authorized User Card:
1. $75 each authorized card each year.
2. Same Priority Pass membership as the main card.
3. Same earning rate on spending. Same fringe benefits as the main card like purchase, car rental and travel insurance etc.
4. No additional Global Entry/TSA credit. Only one credit for the entire account.
5. No additional annual travel credit.
How to get bonus points on the first statement
Act very quickly; you may have less than a week. It depends on the timing of your first statement and when you receive the card. 4K in spending has to clear (not pending) about a week before the statement cuts in order to get the bonus points on that statement. Under "account details" you can see your first payment due date. Your closing date is usually three calendar days after your due date. For instance, if your very first bill is due October 20 that statement would close on September 23, and spending would have to clear by approximately September 16 in order to get the bonus points.
The prior, archived version of this thread can be found here: https://www.flyertalk.com/forum/chase-ultimate-rewards/1814294-chase-sapphire-reserve-csr-50k-ur-benefit-reductions-august-2018-a.html
Sapphire Reserve 60k, $4,000 spend in 3 months, $550 fee.
Dec 16, 2019, 12:35 am
#46
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,508
As for Chase, they've already taken measures to make churning harder to accomplish. For instance, their 5/24 rule and the 48 month language for signup bonuses. Their current tactic seems to be to get people to go deeper into the Chase ecosystem (I personally get mailed advertisements for Sapphire banking fairly regularly as well as UR point offers for taking out mortgages through Chase).
Dec 16, 2019, 8:29 am
#47
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,047
Interchange fees are what issuers use to cover the vast majority of the rewards they offer (if not all of them). It's why when they're capped (as has happened in some other countries), rewards tend to diminish significantly--if not go away entirely. There's a non-zero chance this will happen in the US, too, if the merchants get their way.
As for Chase, they've already taken measures to make churning harder to accomplish. For instance, their 5/24 rule and the 48 month language for signup bonuses. Their current tactic seems to be to get people to go deeper into the Chase ecosystem (I personally get mailed advertisements for Sapphire banking fairly regularly as well as UR point offers for taking out mortgages through Chase).
As for Chase, they've already taken measures to make churning harder to accomplish. For instance, their 5/24 rule and the 48 month language for signup bonuses. Their current tactic seems to be to get people to go deeper into the Chase ecosystem (I personally get mailed advertisements for Sapphire banking fairly regularly as well as UR point offers for taking out mortgages through Chase).
Dec 16, 2019, 9:16 am
#48
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,508
True, but I feel like it's not as effective as caps elsewhere because it only applies to larger issuers. There are still a significant number of debit cards being used at stores by issuers not subject to Durbin (thus commanding higher interchange). OTOH, merchants also have the right to force PIN debit (which usually disqualifies debit card holders from any rewards they would have gotten).
Dec 16, 2019, 1:37 pm
#49
Join Date: May 2011
Location: NYC (LGA, JFK), CT
Programs: Delta Platinum, American Gold, JetBlue Mosaic 4, Marriott Platinum, Hyatt Explorist, Hilton Diamond,
Posts: 4,895
I am not sure if I agree with openwheelracing's conclusion, but I am surprised at how a lot of CSR (and other premium cardholders) actually put very little ongoing spending on those cards. There to appear to be many CSR holders that may for example spend little or nothing on dining in a year, put their one or two paid annual trips on a CSR, then hit various benefits (insurance, priority pass, etc) pretty hard. These customers may be unprofitable. High spenders that pay their balance monthly are probably low margin as opposed to being purely unprofitable.
Dec 16, 2019, 2:56 pm
#50
Join Date: Mar 2017
Posts: 209
I am not sure if I agree with openwheelracing's conclusion, but I am surprised at how a lot of CSR (and other premium cardholders) actually put very little ongoing spending on those cards. There to appear to be many CSR holders that may for example spend little or nothing on dining in a year, put their one or two paid annual trips on a CSR, then hit various benefits (insurance, priority pass, etc) pretty hard. These customers may be unprofitable. High spenders that pay their balance monthly are probably low margin as opposed to being purely unprofitable.
Dec 16, 2019, 5:59 pm
#51
Join Date: Oct 2013
Location: SFO
Programs: UA 1K, AA EXP, Hyatt Glob, Hilton Diamond, Marriott Plat, Total Wine & More Reserve
Posts: 4,524
I am not sure if I agree with openwheelracing's conclusion, but I am surprised at how a lot of CSR (and other premium cardholders) actually put very little ongoing spending on those cards. There to appear to be many CSR holders that may for example spend little or nothing on dining in a year, put their one or two paid annual trips on a CSR, then hit various benefits (insurance, priority pass, etc) pretty hard. These customers may be unprofitable. High spenders that pay their balance monthly are probably low margin as opposed to being purely unprofitable.
One thing that I could see happening lately is that after AmEx discontinued the restaurant PP benefit earlier this year, that many people that had PP accounts with both Chase & AmEx started to use their Chase PP accounts, and probably not just at restaurants, but for all PP lounge visits as well.
Dec 16, 2019, 8:36 pm
#52
Join Date: Jan 2014
Location: SFO
Programs: OZ Diamond/*G, IHG Diamond Amb, Hilton Gold
Posts: 2,240
I feel like the only high margin cardholders on the CSR are the ones who sign up for Chase mortgages, CPC, or Sapphire Banking.
Dec 17, 2019, 2:55 am
#53
Join Date: Mar 2017
Posts: 556
What I read about CSR is that it's a loss leader. Granted, I don't know if that's true, but let's assume it is. This would mean that the purpose of CSR is to attract customers. Overall, Chase's bottom line is better off with CSR than without it. The sole purpose of Chase's existence is to make a profit. This means that if CSR hurts them overall, they would drop it. They aren't, as far as we know.
Dec 17, 2019, 3:14 am
#54
Join Date: Aug 2012
Posts: 6,752
If recall, that was primarily based on the initial batch where they were offering 100K UR bonus & $300 travel credit per calendar year. Some rough estimates I read was that it would take roughly 7 years to breakeven for those who maximized the travel credit.
Not sure about the attrition rate, but I suspect there wasn't a small number who got the $100K, $600 credit, then closed the card. I know I did.
Not sure about the attrition rate, but I suspect there wasn't a small number who got the $100K, $600 credit, then closed the card. I know I did.
Dec 17, 2019, 3:30 am
#55
Join Date: Mar 2017
Posts: 556
If recall, that was primarily based on the initial batch where they were offering 100K UR bonus & $300 travel credit per calendar year. Some rough estimates I read was that it would take roughly 7 years to breakeven for those who maximized the travel credit.
Not sure about the attrition rate, but I suspect there wasn't a small number who got the $100K, $600 credit, then closed the card. I know I did.
Not sure about the attrition rate, but I suspect there wasn't a small number who got the $100K, $600 credit, then closed the card. I know I did.
Dec 17, 2019, 4:31 am
#56
Join Date: Aug 2007
Location: Truth or Consequences, NM
Programs: HH Diamond, Marriott Titanium, Hertz President's Circle, UA Silver, Mobile Passport Unobtanium
Posts: 6,194
Dec 17, 2019, 11:10 am
#57
Join Date: Jun 2008
Location: BAY AREA
Posts: 1,125
I think the CSR annual fee will eventually go up. It's just a matter of time. Amex increased their annual fees so I think Chase will follow. Let's just hope they offer more benefits to CSR or more spending categories like gas.
Dec 17, 2019, 11:24 am
#58
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
Dec 17, 2019, 12:38 pm
#59
Join Date: Mar 2017
Posts: 209
I'm not sure that's a given. At $550, CSR holder might take a hard look at Amex and switch, leaving Chase worse off than before. It's possible, for example, that a lot of CSR clients use most of their points for Amazon and other low-value redemptions, and those are the (profitable) clients Chase could lose either to Amex Plat or to lower-AF Chase cards. Impossible to tell without having internal data.
Dec 17, 2019, 3:08 pm
#60
Join Date: Mar 2013
Location: EWR
Programs: World of Hyatt, Marriott Bonvoy, Hilton Honors, UA Mileage Plus
Posts: 1,255
If the take rate of CSR holders is high on other more profitable banking products and at $450 continues to generate significant signups vs Citi or AMEX then it could very well be worth not raising the AF.