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 17, 2019, 5:10 pm
#62
Join Date: Sep 2008
Location: AUS
Programs: BAEC Gold, AA PPro, Hyatt Globalist, Amex Plat
Posts: 7,029
I realize their is a very large group of Chase UR groupies that are rarely willing to ever concede any advantage to Citi or Amex, but I really am somewhat unbiased because I carry CSR, Citi Prestige, and Amex Platinum. Yes, both Citi and Amex have raised annual fees, but honestly, I don't know how anyone can objectively say that the CSR really competes with Amex Platinum at this point. If CSR raised their annual fee to $550, they would need to bring some serious revamps to the table; "primary" rental car insurance ain't going to cut it at that annual fee level.
Also, I realize that many whine about the Citi Prestige 4th night free, because they no longer earn elite night credits when they stay at the Hilton Garden Inn near the airport and thus they miss out on "free" breakfast, but we use the 4th night at hotels like Four Seasons, where our most recent stay saved ~$900, so again, getting tremendous value for the $495 annual fee (~$245 effective, after travel credit). Additionally, Citi Prestige gets most of our dining spend now at 5X/$.
I've carried the CSR since the beginning, I want to find reasons to love/keep it, but I'm I'm increasingly asking myself why (other than I still have a good bit of UR points). Dining spend goes on Citi Prestige or Amex Gold, flights on Citi Prestige (5X) or Amex Plat (5X). Basically, at this point, CSR gets my rental car spend...
Honestly, IMHO, CSR is beginning to seriously lag; adding some annoying dining credits and jacking up the annual fee isn't going to change that.
Regards
Dec 18, 2019, 10:12 am
#63
Join Date: Apr 2014
Posts: 5
I'm pretty sure that the AF will make those low-spend customers profitable. $150 (after the $300 credit) will easily pay for Chase's travel re-insurance costs and PP lounge entries for a few trips/year. Meanwhile, the high spend people create profit from interchange fees. I know there's a sentiment that CSR costs Chase money, but I can't imagine Chase would keep offering the card if they didn't make money off most customers in some way or another.
I doubt that AF increases and games with delivery services are going to help Chase with keeping people in their UR ecosystem.
Dec 18, 2019, 11:28 am
#64
Join Date: Nov 2013
Posts: 191
We already know the 100k SUB and calendar year travel credit cost Chase a lot of money.
I am certain Chase is making money on interchange fees,.especially from actual spenders.
Churners are loss leaders even with 50K SUB. Period.
Key is how can Chase reduce loss. One way is to increase AF and multiplier. People who don't spend won't spend anyway so higher multiplier is not enticing. However that directly affects profit from spenders. It's a tough call. People can abuse other benefits too. I bet there were a ton of abuse on Citi Rewind that's why they took it away.
I am certain Chase is making money on interchange fees,.especially from actual spenders.
Churners are loss leaders even with 50K SUB. Period.
Key is how can Chase reduce loss. One way is to increase AF and multiplier. People who don't spend won't spend anyway so higher multiplier is not enticing. However that directly affects profit from spenders. It's a tough call. People can abuse other benefits too. I bet there were a ton of abuse on Citi Rewind that's why they took it away.
Dec 18, 2019, 11:44 am
#65
Join Date: Apr 2014
Posts: 5
Churners are straight up losses to everyone, but I think that's well known. 5/24 and the 48 months between bonuses was intended to deter that. Perhaps some other games like the ones Discover plays might deter it further.
The problem with dependence on interchange fees when going up against AmEx is, as I mentioned, that Visa charges lower fees, so they can't offer as much profitably.
On the other hand, the signup bonuses almost certainly come out of the marketing budget, so it's hard to say how much they're actually losing.
The problem with dependence on interchange fees when going up against AmEx is, as I mentioned, that Visa charges lower fees, so they can't offer as much profitably.
On the other hand, the signup bonuses almost certainly come out of the marketing budget, so it's hard to say how much they're actually losing.
Dec 18, 2019, 11:45 am
#66
Join Date: Jun 2008
Location: BAY AREA
Posts: 1,125
We already know the 100k SUB and calendar year travel credit cost Chase a lot of money.
I am certain Chase is making money on interchange fees,.especially from actual spenders.
Churners are loss leaders even with 50K SUB. Period.
Key is how can Chase reduce loss. One way is to increase AF and multiplier. People who don't spend won't spend anyway so higher multiplier is not enticing. However that directly affects profit from spenders. It's a tough call. People can abuse other benefits too. I bet there were a ton of abuse on Citi Rewind that's why they took it away.
I am certain Chase is making money on interchange fees,.especially from actual spenders.
Churners are loss leaders even with 50K SUB. Period.
Key is how can Chase reduce loss. One way is to increase AF and multiplier. People who don't spend won't spend anyway so higher multiplier is not enticing. However that directly affects profit from spenders. It's a tough call. People can abuse other benefits too. I bet there were a ton of abuse on Citi Rewind that's why they took it away.
Dec 18, 2019, 12:15 pm
#67
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,505
Was it abuse, or simply that a lot more people legitimately used the benefit than they originally planned for? A lot of insurance-type stuff is predicated on the vast majority of people simply not using it.
Dec 18, 2019, 12:20 pm
#68
Join Date: Nov 2013
Posts: 191
I realize their is a very large group of Chase UR groupies that are rarely willing to ever concede any advantage to Citi or Amex, but I really am somewhat unbiased because I carry CSR, Citi Prestige, and Amex Platinum. Yes, both Citi and Amex have raised annual fees, but honestly, I don't know how anyone can objectively say that the CSR really competes with Amex Platinum at this point. If CSR raised their annual fee to $550, they would need to bring some serious revamps to the table; "primary" rental car insurance ain't going to cut it at that annual fee level.
CSR still has several unique benefits that others don't. Specifically 50% bonus travel value and PP restaurants which significantly outweighs other cards (for me). Also other Chase cards compliment better for my spend as well. None of the unique features from AMEX Plat and Citi Prestage are useful for me. Again YMMV.
Dec 18, 2019, 12:25 pm
#69
Join Date: Nov 2013
Posts: 191
correct. I mentioned this several posts ago. CSR is VISA Infinite.
Dec 18, 2019, 12:56 pm
#70
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,952
The VISA Infinite interchange fees as not high enough to make spending in the 3X categories profitable for Chase. The only way this card is profitable is if there is substantial 1X spend (or carrying an interest-bearing balance.)
Dec 18, 2019, 5:48 pm
#71
Join Date: Aug 2016
Location: BOS
Programs: AA PP, DL PM
Posts: 2,086
Chase gives some stats, and the average annual sales volume (spending put on the card) for CSR customers is $39,000. $13,000/year in 3X spend and $26,000/year in 1X spend is the break even on swipe fees, which I bet the mean customer is actually spending less than that on travel and dining, but I don't know.
If the 1.5 cpp travel redemption option goes away (or they can get Expedia to mark up the prices enough to cover a bit), that seems to me to open a lot more options for increased earning.
Dec 18, 2019, 6:35 pm
#72
Join Date: Mar 2017
Posts: 209
That's assuming most people a) maximize their UR points, or b) spend most of their UR points. I would imagine that a lot of people use their points for Amazon or similarly low-redemption value purchases, or stash them and forget about them/don't bother using them (instead use their cards for the insurance, PP, etc.). Both would likely tilt even 3x dining spend toward Chase's favor.
Dec 18, 2019, 6:47 pm
#73
Original Poster
Join Date: Apr 2019
Posts: 251
$13,000/year in 3X spend and $26,000/year in 1X spend is the break even on swipe fees, which I bet the mean customer is actually spending less than that on travel and dining, but I don't know.
If the 1.5 cpp travel redemption option goes away (or they can get Expedia to mark up the prices enough to cover a bit), that seems to me to open a lot more options for increased earning.
If the 1.5 cpp travel redemption option goes away (or they can get Expedia to mark up the prices enough to cover a bit), that seems to me to open a lot more options for increased earning.
Dec 18, 2019, 6:55 pm
#74
Join Date: Jun 2008
Location: BAY AREA
Posts: 1,125
Let's just hope they don't stop the ur combo option between accounts. That's how Amex is now. The cash cards are different from MR cards. Unlike Chase, they all earn UR points.
Dec 18, 2019, 7:02 pm
#75
Join Date: Aug 2012
Posts: 6,752
Maximizing Chase isn't exactly rocket science.
1. Have either CSR/Ink Preferred - UR transfer portability and 3X spending.
2. Freedom - all 5% categories whenever pops up.
3. Freedom or Ink Unlimited - 1.5% for everything else - assuming one values UR pts at or equal to 2 cpp cash equivalent.
4. Ink Cash - 5% telecom/office stores - buy GCs for stuff you need.
That's it.
Though, the Amex Bus Blue at 2% MR is arguably the best in class for non-bonus general spending--it's only limitation is it has forex fees. My general rule is unless I'm getting at min 2X cpp equivalent, not using the card unless it's a spend requirement for a bonus.
1. Have either CSR/Ink Preferred - UR transfer portability and 3X spending.
2. Freedom - all 5% categories whenever pops up.
3. Freedom or Ink Unlimited - 1.5% for everything else - assuming one values UR pts at or equal to 2 cpp cash equivalent.
4. Ink Cash - 5% telecom/office stores - buy GCs for stuff you need.
That's it.
Though, the Amex Bus Blue at 2% MR is arguably the best in class for non-bonus general spending--it's only limitation is it has forex fees. My general rule is unless I'm getting at min 2X cpp equivalent, not using the card unless it's a spend requirement for a bonus.