Chase Sapphire Reserve

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student
Posts: 2509
Joined: Fri Apr 03, 2015 6:58 am

Re: Chase Sapphire Reserve

Post by student » Thu Dec 15, 2016 2:16 pm

P&C actuary wrote:
antiqueman wrote:
P&C actuary wrote:I applied for the card and received it. Went online to activate Priority Pass.

Does Priority Pass automatically mail a membership card to me or do I have to do something else?
If you have signed up Priority Pass will send you the card. I got mine in about a week after signing up.
I activated it on Chase.com/rewards. Did you sign up on Chase or on Priority Pass? Priority wanted a code or the card number to join.
You need to activate on Chase. If you cannot find it, you can call Chase and they will do it for you.

OnceARunner
Posts: 94
Joined: Wed Apr 23, 2014 1:50 pm

Re: Chase Sapphire Reserve

Post by OnceARunner » Mon Dec 19, 2016 8:08 am

Decided I'm going to get this card...is there any benefit to waiting for January? I know I'm too late to try to get a double travel credit (2016&2017), but any reason to apply in 2017?

Jim85
Posts: 161
Joined: Tue Dec 11, 2012 10:10 am

Re: Chase Sapphire Reserve

Post by Jim85 » Mon Dec 19, 2016 8:52 am

I would think if you applied late January or in February you could get the double travel credit in 2017 and 2018. Spend 300 in 2017 and book something else in Jan 2018.

Da5id
Posts: 2035
Joined: Fri Feb 26, 2016 8:20 am

Re: Chase Sapphire Reserve

Post by Da5id » Mon Dec 19, 2016 9:43 am

Jim85 wrote:I would think if you applied late January or in February you could get the double travel credit in 2017 and 2018. Spend 300 in 2017 and book something else in Jan 2018.
Or maybe book in Dec 2017. I already got my $300 for 2016. And I'm now getting credits for 2017 credit here in December 2016, based on my next statement date I presume?

Traveler
Posts: 631
Joined: Fri Aug 30, 2013 9:07 pm

Re: Chase Sapphire Reserve

Post by Traveler » Tue Dec 20, 2016 12:58 pm

Da5id wrote:
Jim85 wrote:I would think if you applied late January or in February you could get the double travel credit in 2017 and 2018. Spend 300 in 2017 and book something else in Jan 2018.
Or maybe book in Dec 2017. I already got my $300 for 2016. And I'm now getting credits for 2017 credit here in December 2016, based on my next statement date I presume?
You've likely missed the 2016 credit as it has to be charged in the December billing cycle. I rec'd my card in late November and quickly made a travel charge before the Dec 14th billing cycle close. I'll get another $300 in 2017 and could cancel the card before the second annual fee hits (but I believe I'd have to move the points or use them before canceling to keep the bonus points).

Da5id
Posts: 2035
Joined: Fri Feb 26, 2016 8:20 am

Re: Chase Sapphire Reserve

Post by Da5id » Tue Dec 20, 2016 1:12 pm

Traveler wrote: You've likely missed the 2016 credit as it has to be charged in the December billing cycle. I rec'd my card in late November and quickly made a travel charge before the Dec 14th billing cycle close. I'll get another $300 in 2017 and could cancel the card before the second annual fee hits (but I believe I'd have to move the points or use them before canceling to keep the bonus points).
I got my card in September. I've already got my full $300 for calendar year 2016. As the Chase site says:
"annually" means the year beginning with your account open date through the first December statement date of that same year'
Since I'm past my December statement, apparently I'm currently getting the 2017 credit.

BruDude
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Location: Las Vegas

Re: Chase Sapphire Reserve

Post by BruDude » Tue Dec 20, 2016 2:07 pm

Traveler wrote:
Da5id wrote:
Jim85 wrote:I would think if you applied late January or in February you could get the double travel credit in 2017 and 2018. Spend 300 in 2017 and book something else in Jan 2018.
Or maybe book in Dec 2017. I already got my $300 for 2016. And I'm now getting credits for 2017 credit here in December 2016, based on my next statement date I presume?
You've likely missed the 2016 credit as it has to be charged in the December billing cycle. I rec'd my card in late November and quickly made a travel charge before the Dec 14th billing cycle close. I'll get another $300 in 2017 and could cancel the card before the second annual fee hits (but I believe I'd have to move the points or use them before canceling to keep the bonus points).
Just found out about this, not very happy to say the least. I was specifically told by the rep when I called before signing up that I would have "until the end of 2016" to get the $300 travel credit. Supervisor just told me there is nothing they can do, but they have had A LOT of complaints from people that were misinformed when signing up for the card. For a card with a $450 annual fee, they need to make it right. Nobody has any idea when their card statement comes out. This looks like a way for the CC company to save millions of dollars by using the fine print to their advantage instead of doing what's right for the customer. Someone must have posted about this on Slickdeals/Fatwallet/frequent flyer forums because the supervisor told me he's been getting calls all day about it.

TravelGeek
Posts: 2209
Joined: Sat Oct 25, 2014 3:23 pm

Re: Chase Sapphire Reserve

Post by TravelGeek » Tue Dec 20, 2016 2:28 pm

BruDude wrote: Just found out about this, not very happy to say the least. I was specifically told by the rep when I called before signing up that I would have "until the end of 2016" to get the $300 travel credit. Supervisor just told me there is nothing they can do, but they have had A LOT of complaints from people that were misinformed when signing up for the card. For a card with a $450 annual fee, they need to make it right. Nobody has any idea when their card statement comes out. This looks like a way for the CC company to save millions of dollars by using the fine print to their advantage instead of doing what's right for the customer. Someone must have posted about this on Slickdeals/Fatwallet/frequent flyer forums because the supervisor told me he's been getting calls all day about it.
What is your complaint? That you missed out on double dipping? You still get the $300 rebate per annual fee period.

BruDude
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Location: Las Vegas

Re: Chase Sapphire Reserve

Post by BruDude » Tue Dec 20, 2016 2:32 pm

TravelGeek wrote:
BruDude wrote: Just found out about this, not very happy to say the least. I was specifically told by the rep when I called before signing up that I would have "until the end of 2016" to get the $300 travel credit. Supervisor just told me there is nothing they can do, but they have had A LOT of complaints from people that were misinformed when signing up for the card. For a card with a $450 annual fee, they need to make it right. Nobody has any idea when their card statement comes out. This looks like a way for the CC company to save millions of dollars by using the fine print to their advantage instead of doing what's right for the customer. Someone must have posted about this on Slickdeals/Fatwallet/frequent flyer forums because the supervisor told me he's been getting calls all day about it.
What is your complaint? That you missed out on double dipping? You still get the $300 rebate per annual fee period.
It's not double dipping, it's getting what was offered when I signed up for the card. The supervisor made it sound like this was a pretty widespread complaint and that the salespeople were not properly trained. He said that most of their cards have benefits based on the calendar year, but for whatever reason, this one does not. $300 isn't going to change my life, it's the principle.

SRenaeP
Posts: 738
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Re: Chase Sapphire Reserve

Post by SRenaeP » Tue Dec 20, 2016 3:05 pm

BruDude wrote:
Traveler wrote:
Da5id wrote:
Jim85 wrote:I would think if you applied late January or in February you could get the double travel credit in 2017 and 2018. Spend 300 in 2017 and book something else in Jan 2018.
Or maybe book in Dec 2017. I already got my $300 for 2016. And I'm now getting credits for 2017 credit here in December 2016, based on my next statement date I presume?
You've likely missed the 2016 credit as it has to be charged in the December billing cycle. I rec'd my card in late November and quickly made a travel charge before the Dec 14th billing cycle close. I'll get another $300 in 2017 and could cancel the card before the second annual fee hits (but I believe I'd have to move the points or use them before canceling to keep the bonus points).
Just found out about this, not very happy to say the least. I was specifically told by the rep when I called before signing up that I would have "until the end of 2016" to get the $300 travel credit. Supervisor just told me there is nothing they can do, but they have had A LOT of complaints from people that were misinformed when signing up for the card. For a card with a $450 annual fee, they need to make it right. Nobody has any idea when their card statement comes out. This looks like a way for the CC company to save millions of dollars by using the fine print to their advantage instead of doing what's right for the customer. Someone must have posted about this on Slickdeals/Fatwallet/frequent flyer forums because the supervisor told me he's been getting calls all day about it.
I don't think you're going to get much sympathy on this one. Millions of customers (including myself, in the interest of full disclosure) signed up for this card with the knowledge/intent to 'game the system'. Now that people didn't do their due diligence and couldn't double-dip, they're upset. :confused The card benefits, including fine print, were published and disseminated before the online app even went live.

-Steph

BruDude
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Location: Las Vegas

Re: Chase Sapphire Reserve

Post by BruDude » Tue Dec 20, 2016 3:24 pm

SRenaeP wrote:
BruDude wrote:
Traveler wrote:
Da5id wrote:
Jim85 wrote:I would think if you applied late January or in February you could get the double travel credit in 2017 and 2018. Spend 300 in 2017 and book something else in Jan 2018.
Or maybe book in Dec 2017. I already got my $300 for 2016. And I'm now getting credits for 2017 credit here in December 2016, based on my next statement date I presume?
You've likely missed the 2016 credit as it has to be charged in the December billing cycle. I rec'd my card in late November and quickly made a travel charge before the Dec 14th billing cycle close. I'll get another $300 in 2017 and could cancel the card before the second annual fee hits (but I believe I'd have to move the points or use them before canceling to keep the bonus points).
Just found out about this, not very happy to say the least. I was specifically told by the rep when I called before signing up that I would have "until the end of 2016" to get the $300 travel credit. Supervisor just told me there is nothing they can do, but they have had A LOT of complaints from people that were misinformed when signing up for the card. For a card with a $450 annual fee, they need to make it right. Nobody has any idea when their card statement comes out. This looks like a way for the CC company to save millions of dollars by using the fine print to their advantage instead of doing what's right for the customer. Someone must have posted about this on Slickdeals/Fatwallet/frequent flyer forums because the supervisor told me he's been getting calls all day about it.
I don't think you're going to get much sympathy on this one. Millions of customers (including myself, in the interest of full disclosure) signed up for this card with the knowledge/intent to 'game the system'. Now that people didn't do their due diligence and couldn't double-dip, they're upset. :confused The card benefits, including fine print, were published and disseminated before the online app even went live.

-Steph
I'm not looking for sympathy, just annoyed. If millions of customers signed up and Chase gets to save $300 times a percentage of people that planned to use the credit by 12/31 but not by their statement date, that is quite a lot of money they are saving. Great, it was in the fine print, but that is not what they were advertising to customers. Their phone reps are an extension of their advertisement, and I'm sure there a lot of people that applied over the phone instead of online. Burying a "gotcha" on the card benefits in the fine print is not the way to do business. Why does this card have an "end of billing cycle" deadline while other cards have an "end of calendar year" cycle?

AmEx customer service always makes it right and this card is designed to directly compete for business with AmEx Platinum. For customers that have both, this type of "service" leaves a bad taste in your mouth, even though the card is still a good deal. Like I said, it's the principle.

Da5id
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Joined: Fri Feb 26, 2016 8:20 am

Re: Chase Sapphire Reserve

Post by Da5id » Tue Dec 20, 2016 3:25 pm

SRenaeP wrote: I don't think you're going to get much sympathy on this one. Millions of customers (including myself, in the interest of full disclosure) signed up for this card with the knowledge/intent to 'game the system'. Now that people didn't do their due diligence and couldn't double-dip, they're upset. :confused The card benefits, including fine print, were published and disseminated before the online app even went live.

-Steph
He has my sympathy. If a rep told me that I had "until the end of the year", I likely wouldn't have researched the issue more myself and would have been peeved to not get it. And yes, I got the "double" bonus. It isn't "double-dip" or cheating to get the "extra" $300 bonus IMHO, it is clearly how the program was designed. If Chase wanted one $300 bonus per $450 fee paid, they could easily have done that instead.

rjbraun
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Re: Chase Sapphire Reserve

Post by rjbraun » Tue Dec 20, 2016 3:48 pm

BruDude wrote:
Traveler wrote:
Da5id wrote:
Jim85 wrote:I would think if you applied late January or in February you could get the double travel credit in 2017 and 2018. Spend 300 in 2017 and book something else in Jan 2018.
Or maybe book in Dec 2017. I already got my $300 for 2016. And I'm now getting credits for 2017 credit here in December 2016, based on my next statement date I presume?
You've likely missed the 2016 credit as it has to be charged in the December billing cycle. I rec'd my card in late November and quickly made a travel charge before the Dec 14th billing cycle close. I'll get another $300 in 2017 and could cancel the card before the second annual fee hits (but I believe I'd have to move the points or use them before canceling to keep the bonus points).
Just found out about this, not very happy to say the least. I was specifically told by the rep when I called before signing up that I would have "until the end of 2016" to get the $300 travel credit. Supervisor just told me there is nothing they can do, but they have had A LOT of complaints from people that were misinformed when signing up for the card. For a card with a $450 annual fee, they need to make it right. Nobody has any idea when their card statement comes out. This looks like a way for the CC company to save millions of dollars by using the fine print to their advantage instead of doing what's right for the customer. Someone must have posted about this on Slickdeals/Fatwallet/frequent flyer forums because the supervisor told me he's been getting calls all day about it.
Sorry about your situation. Is it not possible that you could basically get a second $300 travel credit in early 2018? While the cycle works to your disadvantage, in this regard, at the start of your credit card, does it not make it up on the "back-end" (assuming that you don't cancel before the one-year anniversary)?

TravelGeek
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Re: Chase Sapphire Reserve

Post by TravelGeek » Tue Dec 20, 2016 9:27 pm

BruDude wrote: Great, it was in the fine print, but that is not what they were advertising to customers. Their phone reps are an extension of their advertisement, and I'm sure there a lot of people that applied over the phone instead of online. Burying a "gotcha" on the card benefits in the fine print is not the way to do business. Why does this card have an "end of billing cycle" deadline while other cards have an "end of calendar year" cycle?
Who knows why they chose this mechanism. Maybe it was simpler to implement. Why do you think every card needs to follow the same rules? Amex forces you to preselect your airline program; why doesn't Chase? I very much doubt that Chase chose this approach as a cost savings measure. If they wanted that, they could have simply tied it to the membership fee. You pay your $450, your 12 month clock to earn back $300 starts. No gaming, no double dipping, and no whining I guess.

If you read their advertisement for the CSR, this is how they describe it:

"Receive up to $300 in statement credits annually as reimbursement for travel purchases such as airfare and hotels charged to your card*"

See the asterisk at the end? It's your clue that there are details in the T&C that you may want to read. And those T&C spell it out fairly clearly with an example.

I am not going to comment on what a rep said or didn't say; I wasn't on the call. If you think the Chase rep mislead you, ask Chase to listen to the recording where you were promised a benefit you didn't receive.

Drew777
Posts: 616
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Re: Chase Sapphire Reserve

Post by Drew777 » Wed Dec 21, 2016 9:27 am

BruDude wrote:
Traveler wrote:
Da5id wrote:
Jim85 wrote:I would think if you applied late January or in February you could get the double travel credit in 2017 and 2018. Spend 300 in 2017 and book something else in Jan 2018.
Or maybe book in Dec 2017. I already got my $300 for 2016. And I'm now getting credits for 2017 credit here in December 2016, based on my next statement date I presume?
You've likely missed the 2016 credit as it has to be charged in the December billing cycle. I rec'd my card in late November and quickly made a travel charge before the Dec 14th billing cycle close. I'll get another $300 in 2017 and could cancel the card before the second annual fee hits (but I believe I'd have to move the points or use them before canceling to keep the bonus points).
Just found out about this, not very happy to say the least. I was specifically told by the rep when I called before signing up that I would have "until the end of 2016" to get the $300 travel credit. Supervisor just told me there is nothing they can do, but they have had A LOT of complaints from people that were misinformed when signing up for the card. For a card with a $450 annual fee, they need to make it right. Nobody has any idea when their card statement comes out. This looks like a way for the CC company to save millions of dollars by using the fine print to their advantage instead of doing what's right for the customer. Someone must have posted about this on Slickdeals/Fatwallet/frequent flyer forums because the supervisor told me he's been getting calls all day about it.
Just call and have your statement close date moved up to sometime before the end of the year. They should be able to do that no problem. Then you can also get a $300 credit in 2018 since Chase refunds the annual fee if you cancel within 60 days after it is posted.

BruDude
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Re: Chase Sapphire Reserve

Post by BruDude » Wed Dec 21, 2016 12:22 pm

Drew777 wrote:
Just call and have your statement close date moved up to sometime before the end of the year. They should be able to do that no problem. Then you can also get a $300 credit in 2018 since Chase refunds the annual fee if you cancel within 60 days after it is posted.
They won't change the statement close date, already tried that one. My second annual fee is due in October 2017, so I won't get a 2018 credit if I cancel without paying the annual fee again.

Drew777
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Re: Chase Sapphire Reserve

Post by Drew777 » Wed Dec 21, 2016 1:17 pm

BruDude wrote:
Drew777 wrote:
Just call and have your statement close date moved up to sometime before the end of the year. They should be able to do that no problem. Then you can also get a $300 credit in 2018 since Chase refunds the annual fee if you cancel within 60 days after it is posted.
They won't change the statement close date, already tried that one. My second annual fee is due in October 2017, so I won't get a 2018 credit if I cancel without paying the annual fee again.
Try sending a secure message on the site. What I've learned from travel hacking is you get a different answer every time you call a bank. "Hang up, call again," is a common saying among travel hackers.

Willmunny
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Re: Chase Sapphire Reserve

Post by Willmunny » Mon Dec 26, 2016 6:02 pm

I signed up and was approved just before Christmas. I was going to wait until next year, but I figured they may lower the bonus and I should take the bird in hand. I haven't received the card yet, but I see that the account is open online (I already have Freedom card and Chase online account). I hope to get the card before year end.

I will definitely keep the card for at least 11 months. Whether I keep it longer will depend on whether I feel I am spending enough on travel and dining to justify the net $150 annual fee after taking into account the travel reimbursement.

Given my timing for signing up, based on everything I've read, even if I charge a travel expense between now and year end, I understand that it will count towards the 2017 $300 reimbursement. Due to this timing, it doesn't appear to me that I will be able to get two $300 travel reimbursements while paying only one annual fee (if I do decide to cancel just before the end of the first year). Am I understanding this correctly?

Thanks.

tacster
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Re: Chase Sapphire Reserve

Post by tacster » Mon Dec 26, 2016 11:31 pm

Willmunny wrote: Given my timing for signing up, based on everything I've read, even if I charge a travel expense between now and year end, I understand that it will count towards the 2017 $300 reimbursement. Due to this timing, it doesn't appear to me that I will be able to get two $300 travel reimbursements while paying only one annual fee (if I do decide to cancel just before the end of the first year). Am I understanding this correctly?

Thanks.
The "reimbursement period" runs from one December statement closing date to the next. So if you make $300 in travel charges right after the Dec 2017 statement close date, you'll get reimbursed for those charges against 2018. Then quickly cancel the card before the annual fee comes due if desired. I'm in the same boat as you and that's my plan.
INSERT PITHY QUOTE HERE

Drew777
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Re: Chase Sapphire Reserve

Post by Drew777 » Tue Dec 27, 2016 8:59 am

tacster wrote:
Willmunny wrote: Given my timing for signing up, based on everything I've read, even if I charge a travel expense between now and year end, I understand that it will count towards the 2017 $300 reimbursement. Due to this timing, it doesn't appear to me that I will be able to get two $300 travel reimbursements while paying only one annual fee (if I do decide to cancel just before the end of the first year). Am I understanding this correctly?

Thanks.
The "reimbursement period" runs from one December statement closing date to the next. So if you make $300 in travel charges right after the Dec 2017 statement close date, you'll get reimbursed for those charges against 2018. Then quickly cancel the card before the annual fee comes due if desired. I'm in the same boat as you and that's my plan.
Chase will still refund the annual fee within 60 days of it posting. You don't necessarily have to hurry and cancel before it posts.

ND Fan 1
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Re: Chase Sapphire Reserve

Post by ND Fan 1 » Thu Jan 05, 2017 3:03 pm

Update, the 100K bonus on the Chase Sapphire Reserve ends Jan 11th. I applied for one and got approved yesterday. Going to try and get one for my wife and hope we can come up with $4K in spending for both cards

Da5id
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Re: Chase Sapphire Reserve

Post by Da5id » Thu Jan 05, 2017 3:08 pm

ND Fan 1 wrote:Update, the 100K bonus on the Chase Sapphire Reserve ends Jan 11th. I applied for one and got approved yesterday. Going to try and get one for my wife and hope we can come up with $4K in spending for both cards
Google around, there are creative ways to spend ahead without wasting. I pre-paid our insurance (home/auto/umbrella) for the year, and also our temple membership. That was a good start :)

corysold
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Re: Chase Sapphire Reserve

Post by corysold » Thu Jan 05, 2017 3:44 pm

If I understand this correct, I'll get a $1000 cash bonus for signing up, a $300 travel credit for 2017 all for the annual fee of $450, so I'm making $850 just for signing up and spending $4000 in 3 months.

Nothing hidden and I can cancel in a year since I don't travel at all and won't have any of those expenses (except for one upcoming hotel fare).

Da5id
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Joined: Fri Feb 26, 2016 8:20 am

Re: Chase Sapphire Reserve

Post by Da5id » Thu Jan 05, 2017 3:49 pm

corysold wrote:If I understand this correct, I'll get a $1000 cash bonus for signing up, a $300 travel credit for 2017 all for the annual fee of $450, so I'm making $850 just for signing up and spending $4000 in 3 months.

Nothing hidden and I can cancel in a year since I don't travel at all and won't have any of those expenses (except for one upcoming hotel fare).
Better. If you sign up now, you can get the $300 credit this year and next year before the next $450 fee is due.

There are a few other goodies, but the above is the cash rewards (unless you want the $100 for TSA pre-check). I think the ultimate rewards stuff has value if you travel, but YMMV.

Drew777
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Re: Chase Sapphire Reserve

Post by Drew777 » Fri Jan 06, 2017 8:48 am

corysold wrote:If I understand this correct, I'll get a $1000 cash bonus for signing up, a $300 travel credit for 2017 all for the annual fee of $450, so I'm making $850 just for signing up and spending $4000 in 3 months.

Nothing hidden and I can cancel in a year since I don't travel at all and won't have any of those expenses (except for one upcoming hotel fare).
I wouldn't recommend redeeming your points for cash unless you literally don't do any travel at all...

corysold
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Re: Chase Sapphire Reserve

Post by corysold » Fri Jan 06, 2017 9:11 am

Drew777 wrote:
corysold wrote:If I understand this correct, I'll get a $1000 cash bonus for signing up, a $300 travel credit for 2017 all for the annual fee of $450, so I'm making $850 just for signing up and spending $4000 in 3 months.

Nothing hidden and I can cancel in a year since I don't travel at all and won't have any of those expenses (except for one upcoming hotel fare).
I wouldn't recommend redeeming your points for cash unless you literally don't do any travel at all...
Yes, I literally don't travel at all. Haven't taken a vacation in 10 years. Hoping to take the wife away for one night in February, which would use up the $300 travel credit for a hotel.

I'm not familiar with the Chase rewards system. Is there anything else worthwhile that would be worth more than the $1,000 cash other than travel? I get a few Citi Thank You points, but I usually just get gift cards with those.

Da5id
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Re: Chase Sapphire Reserve

Post by Da5id » Fri Jan 06, 2017 9:34 am

corysold wrote: Yes, I literally don't travel at all. Haven't taken a vacation in 10 years. Hoping to take the wife away for one night in February, which would use up the $300 travel credit for a hotel.

I'm not familiar with the Chase rewards system. Is there anything else worthwhile that would be worth more than the $1,000 cash other than travel? I get a few Citi Thank You points, but I usually just get gift cards with those.
Most people should use Ultimate Rewards for travel, as you can relatively easily get more value than the cash option. You sound like an exception though, as you don't travel. Sounds like you should take your money. Note that if you don't use the $300 up on "travel", you can generally also use it for EZ Pass, local commuter passes, etc.

BW1985
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Re: Chase Sapphire Reserve

Post by BW1985 » Fri Jan 06, 2017 12:22 pm

Drew777 wrote:
tacster wrote:
Willmunny wrote: Given my timing for signing up, based on everything I've read, even if I charge a travel expense between now and year end, I understand that it will count towards the 2017 $300 reimbursement. Due to this timing, it doesn't appear to me that I will be able to get two $300 travel reimbursements while paying only one annual fee (if I do decide to cancel just before the end of the first year). Am I understanding this correctly?

Thanks.
The "reimbursement period" runs from one December statement closing date to the next. So if you make $300 in travel charges right after the Dec 2017 statement close date, you'll get reimbursed for those charges against 2018. Then quickly cancel the card before the annual fee comes due if desired. I'm in the same boat as you and that's my plan.
Chase will still refund the annual fee within 60 days of it posting. You don't necessarily have to hurry and cancel before it posts.
I think this was reduced to 30 days, might want to check.
"Squirrels figured out how to save eons ago. They buried acorns. Some, they dug up, for food. Others, they let to sprout, in new oak trees. We could learn from squirrels." -john94549

BW1985
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Re: Chase Sapphire Reserve

Post by BW1985 » Fri Jan 06, 2017 12:24 pm

corysold wrote:
Drew777 wrote:
corysold wrote:If I understand this correct, I'll get a $1000 cash bonus for signing up, a $300 travel credit for 2017 all for the annual fee of $450, so I'm making $850 just for signing up and spending $4000 in 3 months.

Nothing hidden and I can cancel in a year since I don't travel at all and won't have any of those expenses (except for one upcoming hotel fare).
I wouldn't recommend redeeming your points for cash unless you literally don't do any travel at all...
Yes, I literally don't travel at all. Haven't taken a vacation in 10 years. Hoping to take the wife away for one night in February, which would use up the $300 travel credit for a hotel.

I'm not familiar with the Chase rewards system. Is there anything else worthwhile that would be worth more than the $1,000 cash other than travel? I get a few Citi Thank You points, but I usually just get gift cards with those.
I've heard of people selling their points to point brokers for more than 0.01/point. It breaks Chase's terms though so you'd possibly risk your future relationship with them.
"Squirrels figured out how to save eons ago. They buried acorns. Some, they dug up, for food. Others, they let to sprout, in new oak trees. We could learn from squirrels." -john94549

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simplesimon
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Re: Chase Sapphire Reserve

Post by simplesimon » Fri Jan 06, 2017 4:04 pm

Is this card considered a generally very good travel rewards card? Does anybody plan on using this card in year two or year three assuming the perks stay the same?

I'm trying to limit the number of cards I get. I've used the Fido 2% cash back card for many years and am not familiar with points cards and am wondering if it's worth keeping after the first year or if I should cancel...I would say we do a moderate amount of travel.

sharpjm
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Re: Chase Sapphire Reserve

Post by sharpjm » Fri Jan 06, 2017 4:29 pm

simplesimon wrote:Is this card considered a generally very good travel rewards card? Does anybody plan on using this card in year two or year three assuming the perks stay the same?

I'm trying to limit the number of cards I get. I've used the Fido 2% cash back card for many years and am not familiar with points cards and am wondering if it's worth keeping after the first year or if I should cancel...I would say we do a moderate amount of travel.
It depends on whether or not you can make use of the travel points and how much travel and dining you do. Assuming that you can easily use the annual $300 travel credit, the annual fee is essentially $150. Then simple math will tell you if it is better than a 2% no AF card.

150 = 0.025*x
x = 6k

This assumes you can get 1.5 cents per point out of Chase UR points (which is fairly easy with transfer to an airline or to Hyatt). You also get 1.5 cents per points by using the UR portal with the CSR card. This also ignores the value you get from a free Global Entry or Pre Check reimbursment and any value you would get from the Priority Pass membership.

So, do you spend $500 per month on travel and dining on your 2% card? If so, the CSR card breaks even. If you spend significantly more on travel and dining than 500/mo then you'd probably come out ahead with the Reserve card.

lakpr
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Re: Chase Sapphire Reserve

Post by lakpr » Fri Jan 06, 2017 4:41 pm

sharpjm wrote: So, do you spend $500 per month on travel and dining on your 2% card? If so, the CSR card breaks even. If you spend significantly more on travel and dining than 500/mo then you'd probably come out ahead with the Reserve card.
Actually it gets even better. Pair the card with the no-fee Chase Freedom Unlimited, you essentially get 2.25 cents for any category purchases since the UR points are freely transferable from one Chase card to another. Therefore, as long as your **TOTAL EXPENSES** on all credit cards exceeds $6K, you come out ahead by using CSRsv for travel and dining, and CFUnltd for everything else.

The $6K need not be only within the travel and dining category.

sharpjm
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Re: Chase Sapphire Reserve

Post by sharpjm » Fri Jan 06, 2017 4:50 pm

lakpr wrote:
sharpjm wrote: So, do you spend $500 per month on travel and dining on your 2% card? If so, the CSR card breaks even. If you spend significantly more on travel and dining than 500/mo then you'd probably come out ahead with the Reserve card.
Actually it gets even better. Pair the card with the no-fee Chase Freedom Unlimited, you essentially get 2.25 cents for any category purchases since the UR points are freely transferable from one Chase card to another. Therefore, as long as your **TOTAL EXPENSES** on all credit cards exceeds $6K, you come out ahead by using CSRsv for travel and dining, and CFUnltd for everything else.

The $6K need not be only within the travel and dining category.
I didn't mentioned the FU card because the poster mentioned trying to limit the number of cards they were signing up for. You are mostly correct, but the numbers don't line up as well as you say. If you spent no money on travel/dining, you'd need to spend a significant amount on the FU card to make up for the Reserve's annual fee. The math would look like this:

150 = 0.0025*y
y = 60000/year

This is just rough numbers as one would still need to spend the 300 on travel to get the credit.

If one wanted to determine the break even for having both cards, the formula is simply:

150 = 0.025*x + 0.0025*y
Where x = travel/dining spending on Reserve and y = all other spending on FU.
Last edited by sharpjm on Fri Jan 06, 2017 5:22 pm, edited 1 time in total.

TravelGeek
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Re: Chase Sapphire Reserve

Post by TravelGeek » Fri Jan 06, 2017 4:58 pm

simplesimon wrote:Is this card considered a generally very good travel rewards card? Does anybody plan on using this card in year two or year three assuming the perks stay the same?
I think it is a very good travel rewards card. A lot of the benefits are targeted towards travelers. I definitely plan on keeping the card for the foreseeable future (assuming no drastic benefits changes).

Markr867
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Re: Chase Sapphire Reserve

Post by Markr867 » Fri Jan 06, 2017 5:00 pm

Opening this card has been one of the easiest ways I've ever seen to earn free money. My SO and I both opened the card within a few weeks of each other. We received $600 in travel credits in 2016 (used to offset various costs for our upcoming Ireland trip), and we've been working on utilizing the $600 travel credit for 2017. Between the sign-up bonuses and everyday spending, we already have over 230,000 Ultimate Rewards points. We plan to use the Reserve for every expense over the next year and redeem the points for an Australia/New Zealand trip in 2018. :happy

All of that ($1200 in travel credits, round-trip tickets to Australia (at LEAST $2k in value), lounge access, free global entry) for only $900 in annual fees. Thank you, Chase!
Last edited by Markr867 on Fri Jan 06, 2017 5:15 pm, edited 1 time in total.

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simplesimon
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Re: Chase Sapphire Reserve

Post by simplesimon » Fri Jan 06, 2017 5:10 pm

The math gets a little worse for me since I have my wife as an authorized user for the extra $75. Thanks for helping me figure it out - it looks like I will be canceling this card before the end of the year.

mikep
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Re: Chase Sapphire Reserve

Post by mikep » Fri Jan 06, 2017 5:12 pm

We have a timeshare (I know the bad rap they get but we use it, so it works for us) with the annual maintenance due around the new year which codes as travel. Pay part in 2016, part in 2017 to use up 2 $300 travel credits easy, and 3x UR on the entire amount is good as well. I don't have my wife on the card due to the $75 fee.
Plus when I upgraded from the Sapphire Preferred they never billed the $450. So that's an easy $600 right there.

retire14
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Re: Chase Sapphire Reserve

Post by retire14 » Fri Jan 06, 2017 6:10 pm

Generator515 wrote:
MrsRoos wrote:OP here. Just applied for this online and no immediate answer yet as they need to review it. Perhaps we should have walked into a branch...
Call the reconsideration line. More often than not you will get an answer on the spot. I was also told they need to get back to me. I called and was told they wanted to approve me but since I had 3 other cards they needed to reallocate the credit line I had on the other cards. They gave me a suggestion how to do it, I agreed and then she told me I was approved. This was on a Saturday and I had the card in my hands Tuesday.
where do I find this number, please. Not on their website

stm
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Re: Chase Sapphire Reserve

Post by stm » Sat Jan 07, 2017 12:01 am

simplesimon wrote:Is this card considered a generally very good travel rewards card? Does anybody plan on using this card in year two or year three assuming the perks stay the same?

I'm trying to limit the number of cards I get. I've used the Fido 2% cash back card for many years and am not familiar with points cards and am wondering if it's worth keeping after the first year or if I should cancel...I would say we do a moderate amount of travel.
I think it depends on the type of travel you're talking about. For purchasing travel using points, the 100K to $1500 is not bad. For value via transferability, it's excellent with a strong list of transfer partners to transfer points to.

For buying travel, the 3X multiplier is above average, there are better. But.... the travel insurance/trip delay etc is excellent for it's terms, and don't forget primary rental car coverage.

When paired with a freedom or Ink, this can be a very powerful card.

MPAndy222
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Re: Chase Sapphire Reserve

Post by MPAndy222 » Sat Jan 07, 2017 5:12 am

Make sure to sign up by January 11th as they are slashing the reward points from 100k to 50k

stockpile
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Re: Chase Sapphire Reserve

Post by stockpile » Sun Jan 08, 2017 12:41 am

I have a question........Currently I use the USAA Limitless Rewards Visa which gives me 2.5% cash back on all purchases with no annual fee as my daily driver. Is there a good reason to consider the CSR as the daily driver? I know the 1st year CSR would win hands down, but thereafter I'm not sure. I already have TSA pre so that's a wash. The access to lounges isn't a big seller for me either. The $450 annual fee is steep even with the $300 credit. For me to make up $150 in fees given my 2.5% cash back/no annual fee card from USAA I'd have to spend many thousands to recoup that. Thoughts?

Drew777
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Re: Chase Sapphire Reserve

Post by Drew777 » Sun Jan 08, 2017 12:52 am

Markr867 wrote:Opening this card has been one of the easiest ways I've ever seen to earn free money. My SO and I both opened the card within a few weeks of each other. We received $600 in travel credits in 2016 (used to offset various costs for our upcoming Ireland trip), and we've been working on utilizing the $600 travel credit for 2017. Between the sign-up bonuses and everyday spending, we already have over 230,000 Ultimate Rewards points. We plan to use the Reserve for every expense over the next year and redeem the points for an Australia/New Zealand trip in 2018. :happy

All of that ($1200 in travel credits, round-trip tickets to Australia (at LEAST $2k in value), lounge access, free global entry) for only $900 in annual fees. Thank you, Chase!
FYI booking award flights to Australia/New Zealand is extremely difficult. Economy isn't too bad, but if you want to fly business good luck. I've been searching availability for months. Found a few flights here and there but nothing has worked out yet. It either takes a lot of time and patience searching and extreme flexibility with scheduling (after you learn all the ins and out of searching award space to Australia on Chase transfer partners) or you pay an award booking service to do it for you.

Markr867
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Re: Chase Sapphire Reserve

Post by Markr867 » Sun Jan 08, 2017 7:08 am

Drew777 wrote:
Markr867 wrote:Opening this card has been one of the easiest ways I've ever seen to earn free money. My SO and I both opened the card within a few weeks of each other. We received $600 in travel credits in 2016 (used to offset various costs for our upcoming Ireland trip), and we've been working on utilizing the $600 travel credit for 2017. Between the sign-up bonuses and everyday spending, we already have over 230,000 Ultimate Rewards points. We plan to use the Reserve for every expense over the next year and redeem the points for an Australia/New Zealand trip in 2018. :happy

All of that ($1200 in travel credits, round-trip tickets to Australia (at LEAST $2k in value), lounge access, free global entry) for only $900 in annual fees. Thank you, Chase!
FYI booking award flights to Australia/New Zealand is extremely difficult. Economy isn't too bad, but if you want to fly business good luck. I've been searching availability for months. Found a few flights here and there but nothing has worked out yet. It either takes a lot of time and patience searching and extreme flexibility with scheduling (after you learn all the ins and out of searching award space to Australia on Chase transfer partners) or you pay an award booking service to do it for you.
We were actually planning to go the economy route (either using award tickets or just using the Chase Portal to find the cheapest flight and paying for it that way). I know this goes against the mentality of the credit card game, where everybody wants to maximize cents per point by flying business/first, but we don't mind flying economy even on a long flight. That will leave us with points remaining to cover other travel related expenses during the trip.

Don't get me wrong, I would love to book a business or first class trip, I just can't justify using up all of my points for one flight. That might change once I get more into the churning game, though.

Drew777
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Re: Chase Sapphire Reserve

Post by Drew777 » Mon Jan 09, 2017 7:50 am

Markr867 wrote:
Drew777 wrote:
Markr867 wrote:Opening this card has been one of the easiest ways I've ever seen to earn free money. My SO and I both opened the card within a few weeks of each other. We received $600 in travel credits in 2016 (used to offset various costs for our upcoming Ireland trip), and we've been working on utilizing the $600 travel credit for 2017. Between the sign-up bonuses and everyday spending, we already have over 230,000 Ultimate Rewards points. We plan to use the Reserve for every expense over the next year and redeem the points for an Australia/New Zealand trip in 2018. :happy

All of that ($1200 in travel credits, round-trip tickets to Australia (at LEAST $2k in value), lounge access, free global entry) for only $900 in annual fees. Thank you, Chase!
FYI booking award flights to Australia/New Zealand is extremely difficult. Economy isn't too bad, but if you want to fly business good luck. I've been searching availability for months. Found a few flights here and there but nothing has worked out yet. It either takes a lot of time and patience searching and extreme flexibility with scheduling (after you learn all the ins and out of searching award space to Australia on Chase transfer partners) or you pay an award booking service to do it for you.
We were actually planning to go the economy route (either using award tickets or just using the Chase Portal to find the cheapest flight and paying for it that way). I know this goes against the mentality of the credit card game, where everybody wants to maximize cents per point by flying business/first, but we don't mind flying economy even on a long flight. That will leave us with points remaining to cover other travel related expenses during the trip.

Don't get me wrong, I would love to book a business or first class trip, I just can't justify using up all of my points for one flight. That might change once I get more into the churning game, though.
I understand, I used to be the same way. Now I have so many points/miles I figured I might as well start flying business otherwise I'll never use them. My first business class flight was on Lufthansa, and now I'm hooked. Being able to sleep undisturbed in a lie-flat seat from dinner to breakfast on an overnight flight made a huge difference. But I agree it's better to use those points for more trips rather than fewer in business class. I think you'll probably be much better off transferring the points to an airline and booking that way. Unless you come across a mistake fare trying to book economy through the portal will likely be about as much as first class when transferring to an airline.

fareastwarriors
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Re: Chase Sapphire Reserve

Post by fareastwarriors » Mon Jan 09, 2017 6:11 pm

I finally applied for a Reserve card and was approved. It took like 3 minutes. :happy

FB01
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Re: Chase Sapphire Reserve

Post by FB01 » Mon Jan 09, 2017 6:27 pm

I was planning to apply sometime this year but seeing the offer is expiring applied.

Planning to apply for my wife..but thinking how to spend 8000 in 3 months :?

lakpr
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Re: Chase Sapphire Reserve

Post by lakpr » Mon Jan 09, 2017 6:52 pm

FB01 wrote:I was planning to apply sometime this year but seeing the offer is expiring applied.
Planning to apply for my wife..but thinking how to spend 8000 in 3 months :?
Some ideas:
1. Make a $8000 payment to IRS, you will be charged 1.8% fee. Increase your exemptions in the paycheck to compensate, or have a big refund in 2018
2. Do the same thing with state income taxes (if you are in a state that has state income tax). My state, NJ, charges 2.3% for the privilege
2. Use Plastiq.com to schedule a payment to either your mortgage company (if you are a homeowner) or your landlord (if you rent) for however many months you need to use up $8000. They charge 2.5% for the service
3. Switch your auto insurance (and home owner insurance if applicable) to a new carrier and prepay up to an year in advance; the previous carrier will refund unused premiums. No "fee" here, except that it might take up to a month to get a refund of your unused premium to be paid back to Chase
4. If your township / city allows, pay property taxes using credit card, if you are a homeowner. My township charges 2.9% for the privilege
5. Buy gas and grocery gift cards at a shop you frequent. This is a YMMV though, it might or might not count towards the spend minimum, depending on how the merchant codes it. If the first item in a long list of items on a bill is a grocery, you might sneak through ...
6. Do you commute on toll roads? Buy Ez-Pass and prepay
7. A combination of all the above

RubyTuesday
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Re: Chase Sapphire Reserve

Post by RubyTuesday » Mon Jan 09, 2017 7:36 pm

We have $8k to spend... planning on prepaying some things as suggested and the buying wine for the balance. That's something I know we'll use and buying in advance only helps with the expense. :beer

TravelforFun
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Re: Chase Sapphire Reserve

Post by TravelforFun » Mon Jan 09, 2017 7:56 pm

RubyTuesday wrote:We have $8k to spend... planning on prepaying some things as suggested and the buying wine for the balance. That's something I know we'll use and buying in advance only helps with the expense. :beer
Or you can buy Amazon gift cards from its website. They sell $2,000 cards that don't expire.

allenlucky
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Re: Chase Sapphire Reserve

Post by allenlucky » Mon Jan 09, 2017 8:42 pm

i finally signed up for the Chase Reserve, adding an authorized user to help get the minimum spend. Does anyone know what happens once the authorized user account is cancelled (which I plan to do before the next annual fee charge)? Does this change the status of the account in any way and risk losing any points, etc?

I assume there is a standard credit card answer to this, but if anyone knows for sure about the Reserve that would be great. Thanks!

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