Chase Sapphire Reserve cumulative devaluation
 

I apologize if there is another thread for this, but I didn't see it, and it seems like it would be good to have a central place to discuss and rant about the slow devaluation of CSR benefits.

I've had the CSR for eight years, I think since they introduced it. I have been generally happy with the card, which is why I haven't been bouncing back and forth with cards like I used to. However lately I keep noticing that a lot of the benefits are no longer what they used to, specifically:

1. Redemptions. The main benefit of the CSR is the 1.5x redemption through the travel portal. I generally use this for hotels, since I am very averse to using travel agents for flights, and have status with Delta. This may be anecdotal, but I am finding more travel redemptions are A) not matching the prices if I book direct with the hotel, or B) only include "upgraded" rooms in hotels, that I don't really want to pay extra for even though lesser priced rooms are cheaper on the hotel website. Using the Chase travel portal has become more of a game of how you find partner award availability through frequent flyer points. I am finding that the Chase portal with points is becoming less of a "no blackouts or restrictions" type of system, and more of "you can use your awards when its profitable for us" type of system. I am also concerned they are trying to steer you away from 1.5x point redemptions. Amazon purchases keep asking me to use UR points at less than a $0.01 rate...
2. Removal of Lyft Pink. I found this to be a significant reduction in benefits, as the Amex platinum has a corresponding benefit with Uber (and then some). I don't even like Lyft, they always bait and switch with arrival times. However I live in NYC and the associated Citi Bike membership was a major value for me (~$200).
3. Dashpass. With the $10/month restaurant credit this was a good benefit for me, however DoorDash has really gone downhill. Their prices for restaurants are typically higher than Seamless/Grubhub and they add significant more fees at checkout than competitors. I am in NYC which has some complications in this regard, but the $10/month credit used to be worth it for a monthly takeout order. Now not so much.
4. Customer support. Some of you may remember this, but one of the big advertised perks of the CSR was that a real person would always pick up when you called them. That doesn't seem to be the case anymore. I will admit their customer service is still better than most. You don't have to jam "0000000 ########" in your phone and scream "REPRESENTATIVE" to get out of the request to enter your 16-digit account number, but they still try to divert you with their automated system.
5. Marriott Gold. Apparently this isn't a benefit anymore? You have to sign up for a promotion (that wasn't advertised) and stay at Marriott hotels for each year?

The lounge benefits are still nice, but were trivial before they limited Priority Pass (which like every premium card has) entrances to once a year. If they grow their network out similar to AMEX I could see this being a bigger benefit, but that's going to take a while and I don't trust Chase to not commercialize their network more with expanded Priority Pass access.

I have an AMEX Platinum Authorized user card for a business account that spends quite a lot. This results in unlimited Skyclub and Centurion benefits, of which I use extensively (fly Delta out of LGA/JFK). Because of this I am not really inclined to switch to AMEX for my personal account. That's why I have primarily kept the CSR, but I keep getting emails about how I don't have xyz benefit. I also have Chase Sapphire Checking. This is nice to consistency of finances and ATM transaction fees (especially internationally), but it requires me to park money in their crappy investment account (read: mutual funds) as their savings rates are garbage. They also harass me about Private Client, which from my understanding is bordering on a managed portfolio scam which requires you to free up more capital in their horrible investment accounts. Been thinking about moving to Capital One Venture X as the annual fee is significantly less and the benefits seem to be similar to the CSR. Another popular option seems to be to downgrade to CSP?

Does anyone think there will be a benefit refresh anytime soon on the CSR? Chase seems to have a chip on their shoulder in general, both for their cards and banking. I almost feel they will keep reducing benefits until it has a material effect on people dropping the card and their financial performance. It comes off to me as a frog in slowly boiling water analogy.

I do not recall that Marriott status was ever a Sapphire Reserve benefit. When was it added?

To be honest that might have come from the aforementioned AMEX.

Yes, Marriott and Hilton Gold are American Express Platinum benefits.

The CSR has had a Marriott Gold challenge before, so you get it for at least a few months free.

Can we add (rant) or something similar to the thread subject. I came here (with a mild heart attack) thinking that a devaluation had been announced or leaked … :D

I agree. This is very much the OP’s rant and should be qualified as such in the thread title.

I just got off the phone with Amex Platinum Customer Service with exactly this complaint.
Amex CS sends you through an automated system where you jam 0000, and it says, 'Alright, I'll get a representative,' only to pass you on to another automated system - 'based on recent activity, we think you'd like one of these options.'

It's a race to the bottom, I'm afraid.

As a matter of interest, why do people call a card issuer when there is a chat or secure messaging option?

I agree that those two options are usually better (especially since you get a written record), but some examples of times I choose to call are:

- I expect that there will be a lot of back and forth. If it's a decision tree situation (i.e. if they say A, I want X, but if they say B, I want Y), then I find it's usually easier to just call, particularly if the CS is good. Otherwise the lag between messages can drag things out. Chat solves this somewhat, but not all chat CSs are equal. Amex's (for example) is pretty good, but others are pretty crappy (i.e. they want you to use their AI crap first which definitely doesn't understand the issue - I find if it's something I can't figure out/answer on my own, your bot isn't going to know, either).

- I'm on a long highway drive (handsfree and not heavy traffic!) and I'm trying to get something checked off my list. I'll usually only doing this if the CS is pretty good (i.e. it's only going to be a quick call), although I have done it when there is a long expected hold time, too.

For Chase and Amex, the chat is a front to a 'Virtual Assistant,' the online equivalent of the automated systems.
I'm calling because I couldn't solve the problem via the app or website, and a virtual assistant isn't going to help.

For the money I spend on the annual fee, answer the phone.

Regarding the OP, I agree with the overall point that the utility of CSR has diminished over the years. I also have Amex Plat, and it has been a greater value to me.

The main reason I still keep the CSR is the 3x points for all travel. I use Amex Plat for all airlines charges [5x], but I have substantial other travel charges (condo rentals, cycling trips) that qualify for 3x points. Also, the trip cancellation/delay coverage is generous ($20k per trip). And I like how United is a points-transfer partner (no United for Amex).

All of the above makes CSR worth the net $250 annual fee, but it’s getting less valuable to me.

I agree with you OP. If nothing changes by this summer when my card renews, they will have to offer me something to stay with them. Also been with the card for 8 years or so.

Agreed. To specific points:

(1) umm no. The best value (at least for me) is transferring points to UA or Hyatt. I typically get .02-.03 per point so much more value than OP. No deval there

(2) Lyft - pink did nothing for me. Lyft pickup times have deteriorated to I find myself using uber more. Uber also sells discounted GCs thru Costco.

(3) DoorDash - prices are always cheaper than uber eats and fewer garbage fees. Much prefer to uber.

(4) customer service - no worse than any other. I do like Amex web chat function which is more faster and efficient than glacial secure messaging w Chase.

My biggest complaint is the move to copy Amex idiotic coupon book approach.

Can you elaborate on what you mean by "entrences to once a year" ? AFAIK, the Priority Pass that comes with CSR (and the Chase RC) is the only one that allows unlimited entries into Sapphire lounges.
I do agree with your other points about the diminishing value of CSR, and especially given the new rumor of the increased annual fee with more AmEx coupon book credit may very well reduce the value even further.

Totall agree. With AmEx, the chat is simply too convenient and I would say is the best and fastest way to reach a human across all the credit card issuers.