JPM Chase Reserve Card gets more expensive

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Topic Author
WhiteMaxima
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JPM Chase Reserve Card gets more expensive

Post by WhiteMaxima » Wed Jan 08, 2020 3:53 pm

membership fee raised from $450 to $550, with additional benefit.

mervinj7
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Joined: Thu Mar 27, 2014 3:10 pm

Re: JPM Chase Reserve Card gets more expensive

Post by mervinj7 » Wed Jan 08, 2020 4:13 pm

https://thepointsguy.com/news/significa ... erve-card/
  • Annual fee changes from $450 to $550. Effective Jan 12, 2020 for new sign ups. For renewals after April 1, 2020.
  • $300 Travel Credit unchanged
  • Free DoorPash (Doordash) for 2 years. $60 Dash Credit in 2020, $60 Dash Credit in 2021
  • Free Lyft Pink Membership
I will likely not be renewing.
EDIT: I need reconsider based on what alternative options they are. Doordash credit is more useful than I thought since I can apply it to a pickup order at a local restaurant and bypass all delivery fees.
Last edited by mervinj7 on Tue Jan 14, 2020 6:01 pm, edited 1 time in total.

Topic Author
WhiteMaxima
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Re: JPM Chase Reserve Card gets more expensive

Post by WhiteMaxima » Wed Jan 08, 2020 4:27 pm

mervinj7 wrote:
Wed Jan 08, 2020 4:13 pm
https://thepointsguy.com/news/significa ... erve-card/
  • Annual fee changes from $450 to $550. Effective Jan 12, 2020 for new sign ups. For renewals after April 1, 2020.
  • $300 Travel Credit unchanged
  • Free DoorPash (Doordash) for 2 years. $60 Dash Credit in 2020, $60 Dash Credit in 2021
  • Free Lyft Pink Membership
I will likely not be renewing.
Me too. I guess I would cancel after my membership expire next year. Will use Costco Citi Visa as primary travel card.

Osprey
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Re: JPM Chase Reserve Card gets more expensive

Post by Osprey » Wed Jan 08, 2020 4:32 pm

Thanks for posting this info!

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heartwood
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Re: JPM Chase Reserve Card gets more expensive

Post by heartwood » Wed Jan 08, 2020 4:47 pm

WhiteMaxima wrote:
Wed Jan 08, 2020 4:27 pm
mervinj7 wrote:
Wed Jan 08, 2020 4:13 pm
https://thepointsguy.com/news/significa ... erve-card/
  • Annual fee changes from $450 to $550. Effective Jan 12, 2020 for new sign ups. For renewals after April 1, 2020.
  • $300 Travel Credit unchanged
  • Free DoorPash (Doordash) for 2 years. $60 Dash Credit in 2020, $60 Dash Credit in 2021
  • Free Lyft Pink Membership
I will likely not be renewing.
Me too. I guess I would cancel after my membership expire next year. Will use Costco Citi Visa as primary travel card.
Same here. My main reason for keeping it was the car rental coverage as primary and that was iffy. This will likely push me to drop it and just increase my auto coverage. Or use AMEX Premium car insurance.

I also found in the last year that redeeming points for airline tix was hit and miss. Twice we found much cheaper prices on the airline site.

Guess they think they have a captive audience or just plan to reduce the credit card business? Better check when my Global Entry needs renewal.

exces6
Posts: 14
Joined: Wed Jun 29, 2016 2:09 pm

Re: JPM Chase Reserve Card gets more expensive

Post by exces6 » Wed Jan 08, 2020 5:01 pm

Sad to see them neuter what has been a great card for me since it was released in 2016 (lots of dining expenses and desirable redemption floor were my main benefit).

I personally find situational benefits (thanks to a random Redditor for that term) to be incredibly annoying, along with the effort of trying to value them. It's also deceptive to state something as worth "$X value" when in reality (for most people) if you didn't already purchase it for that price you obviously don't consider it worth having for said price.

While many of the app delivery services don't treat their employees well, Doordash struck me as particularly egregious for tip stealing, so I uninstalled. And at least where I live their delivery times are atrocious (75 minutes+ for most restaurants). Hard to see getting any real value out of that for the extra $100 AF.

The Lyft credits are interesting, and seeing a boost to 10x point earning on Lyft rides may be attractive to high users. Lyft Pink membership is only limited to a year. Will require some creative math to truly determine its worth; 15% off is simple enough but you have to adjust that against the % rewards that Lyft seems to hand out like candy anyway, so your effective savings with the card are likely much less. And no real benefit for anyone who expenses such travel.

Sorry for the rant, just disappointed to see such a great card go by the wayside. I can't see myself renewing later this year.

Freefun
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Re: JPM Chase Reserve Card gets more expensive

Post by Freefun » Wed Jan 08, 2020 5:07 pm

This was anticipated as Amex platinum is a competitor and had $550 annual fee for a while now.
Remember when you wanted what you currently have?

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sperry8
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Location: Miami FL

Re: JPM Chase Reserve Card gets more expensive

Post by sperry8 » Wed Jan 08, 2020 5:08 pm

heartwood wrote:
Wed Jan 08, 2020 4:47 pm
WhiteMaxima wrote:
Wed Jan 08, 2020 4:27 pm
mervinj7 wrote:
Wed Jan 08, 2020 4:13 pm
https://thepointsguy.com/news/significa ... erve-card/
  • Annual fee changes from $450 to $550. Effective Jan 12, 2020 for new sign ups. For renewals after April 1, 2020.
  • $300 Travel Credit unchanged
  • Free DoorPash (Doordash) for 2 years. $60 Dash Credit in 2020, $60 Dash Credit in 2021
  • Free Lyft Pink Membership
I will likely not be renewing.
Me too. I guess I would cancel after my membership expire next year. Will use Costco Citi Visa as primary travel card.
Same here. My main reason for keeping it was the car rental coverage as primary and that was iffy. This will likely push me to drop it and just increase my auto coverage. Or use AMEX Premium car insurance.

I also found in the last year that redeeming points for airline tix was hit and miss. Twice we found much cheaper prices on the airline site.

Guess they think they have a captive audience or just plan to reduce the credit card business? Better check when my Global Entry needs renewal.
Chase's United Explorer card with $95 AF has primary car rental coverage as well. Perhaps a worthy swap.
BH contest results: 2019: #233 of 645 | 18: #150 of 493 | 17: #516 of 647 | 16: #121 of 610 | 15: #18 of 552 | 14: #225 of 503 | 13: #383 of 433 | 12: #366 of 410 | 11: #113 of 369 | 10: #53 of 282

TheRightKost87
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Location: Boston, MA

Re: JPM Chase Reserve Card gets more expensive

Post by TheRightKost87 » Wed Jan 08, 2020 5:11 pm

My renewal date is later this month, which is before the increased annual fee goes into effect. I'll likely renew for this year, and try to use all my stored up URs at the 1.5x multiplier value before this time next year, at which point I'll likely cancel.

I really like this card, but it's not a surprise they're bumping up the annual fee cost. At an effective annual fee of $150 it was palatable, as I thought I got slightly more value than that from it. However at $250, I think I'll be able to make up that value using other cards. I don't value the doordash or lyft things much at all. Amex had similar benefits for Grubhub and Uber on their Gold and Platinum cards and I never got full value out of those either.
"The problem with diversification is that it works, whether or not we want it to"

ohai
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Re: JPM Chase Reserve Card gets more expensive

Post by ohai » Wed Jan 08, 2020 5:12 pm

Is there some sort of calculator where you can put in yearly airline spending, Uber, etc., and see what the economics look like? I still find this sort of credit card to be opaque and I avoid them for simplification.

Seasonal
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Re: JPM Chase Reserve Card gets more expensive

Post by Seasonal » Wed Jan 08, 2020 5:14 pm

At worst, it's 3 points per dollar for travel and dining. If you travel enough, it's worth it compared to a 2% cash back card, because the points can, at worst, be turned into cash at $0.01 apiece. You'd have to travel and eat $250 ($550 less the $300 credit) divided by .01 worth, or at least $25,000. If you can actually transfer points to a hotel or airline or use their travel portal, then you wouldn't have to spend as much on the card for it to be valuable. Plus it has trip interruption and cancellation insurance, which is very comforting when travelling.

There seem to be cards that give more than 2% cash back, but they require funding accounts or similar activities.

What's better and why?

batpot
Posts: 936
Joined: Thu Jul 11, 2013 8:48 pm

Re: JPM Chase Reserve Card gets more expensive

Post by batpot » Wed Jan 08, 2020 5:21 pm

heartwood wrote:
Wed Jan 08, 2020 4:47 pm
I also found in the last year that redeeming points for airline tix was hit and miss. Twice we found much cheaper prices on the airline site.

Guess they think they have a captive audience or just plan to reduce the credit card business? Better check when my Global Entry needs renewal.
Best use of rewards is exchanging for miles, or hotel points.
Hyatt has fantastic exchanges.
Also found super cheap rental cars directly from Chase (I recall one was $80 worth of points vs ~$200 out of pocket in San Diego).
Last edited by batpot on Wed Jan 08, 2020 5:23 pm, edited 1 time in total.

Topic Author
WhiteMaxima
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Re: JPM Chase Reserve Card gets more expensive

Post by WhiteMaxima » Wed Jan 08, 2020 5:22 pm

Costco Citi Visa gives your 3% reward for dinning out, traveling, 4% in gas and 2% in Costco shopping. And foreign transaction fee free. It's a Visa and wide accepted around the world. And most important, it is free to Costco club member. Also Costco travel has better choice than Chase travel portal. You will get additional 2% Costco reward if you are their executive member.

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

Re: JPM Chase Reserve Card gets more expensive

Post by TravelGeek » Wed Jan 08, 2020 5:26 pm

My renewal date is in October, so not an urgent decision to make for me. The value I get out of it will to some degree depend on whether I will be able to find United J awards at decent rates. And whether my travel takes me through airports with Priority Pass restaurants. In 2019 I got $136 of meals (and I did not attempt to maximize each visit to the $27/person limit). That is a benefit that didn’t exist when I first got the card for $450.

For now my dining spend and most of my travel expenses will continue to go onto this card. And the CFU will remain my unbonused spend default card.

I may, however, ditch the Amex Plat if I am not offered a retention bonus.

batpot
Posts: 936
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Re: JPM Chase Reserve Card gets more expensive

Post by batpot » Wed Jan 08, 2020 5:30 pm

WhiteMaxima wrote:
Wed Jan 08, 2020 5:22 pm
Costco Citi Visa gives your 3% reward for dinning out, traveling, 4% in gas and 2% in Costco shopping. And foreign transaction fee free. It's a Visa and wide accepted around the world. And most important, it is free to Costco club member. Also Costco travel has better choice than Chase travel portal. You will get additional 2% Costco reward if you are their executive member.
Our Costco card only gets used for Costco purchases.

Have a Ducks Unlimited card for 5% back on gas, and now using Citi Premier and Double Cash (for Thank you Points) for travel and dining out.

Jags4186
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Joined: Wed Jun 18, 2014 7:12 pm

Re: JPM Chase Reserve Card gets more expensive

Post by Jags4186 » Wed Jan 08, 2020 5:32 pm

A nice alternative for folks who usually cash out points via the Chase portal at $0.015/point is Citi. 3 card combo: Rewards+ (free), Double Cash (free), and Citi Premier ($95 AF, 60k bonus).

With this combo you get the following:

2.75% unbonused spend towards travel through Citi Portal
4.125% Travel and Gas towards travel through Citi Portal

You can even supplement with a Costco Visa (free if you’re a Costco Member) for 4% gas at Costco (Premier is a MasterCard) and 3% at Restaurants.

Citi Rewards+ doesn’t need to be carried with you. It’s sole purpose is the 10% points rebate feature (up to 10k rebate points/yr).

Leesbro63
Posts: 6553
Joined: Mon Nov 08, 2010 4:36 pm

Re: JPM Chase Reserve Card gets more expensive

Post by Leesbro63 » Wed Jan 08, 2020 5:53 pm

I just want to confirm that the Chase Sapphire Preferred card (not the card in the subject title) will continue to be $95 and have primary rental car coverage...is that correct?

Topic Author
WhiteMaxima
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Re: JPM Chase Reserve Card gets more expensive

Post by WhiteMaxima » Wed Jan 08, 2020 6:09 pm

Leesbro63 wrote:
Wed Jan 08, 2020 5:53 pm
I just want to confirm that the Chase Sapphire Preferred card (not the card in the subject title) will continue to be $95 and have primary rental car coverage...is that correct?
Costco Citi has primary rental car coverage and it's free (costco member fee is $60)

TravelGeek
Posts: 3629
Joined: Sat Oct 25, 2014 3:23 pm

Re: JPM Chase Reserve Card gets more expensive

Post by TravelGeek » Wed Jan 08, 2020 6:10 pm

Leesbro63 wrote:
Wed Jan 08, 2020 5:53 pm
I just want to confirm that the Chase Sapphire Preferred card (not the card in the subject title) will continue to be $95 and have primary rental car coverage...is that correct?
To the best of my knowledge no changes to the AF or rental car coverage for the CSP have been announced.

TravelGeek
Posts: 3629
Joined: Sat Oct 25, 2014 3:23 pm

Re: JPM Chase Reserve Card gets more expensive

Post by TravelGeek » Wed Jan 08, 2020 6:13 pm

WhiteMaxima wrote:
Wed Jan 08, 2020 6:09 pm
Leesbro63 wrote:
Wed Jan 08, 2020 5:53 pm
I just want to confirm that the Chase Sapphire Preferred card (not the card in the subject title) will continue to be $95 and have primary rental car coverage...is that correct?
Costco Citi has primary rental car coverage and it's free (costco member fee is $60)
I'd double-check that.

https://www.cardbenefits.citi.com/~/med ... coCon.ashx

"In the United States, the coverage provided by this benefit is secondary"

User avatar
jriding
Posts: 175
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Location: CO

Re: JPM Chase Reserve Card gets more expensive

Post by jriding » Wed Jan 08, 2020 6:28 pm

The Alliant Signature Visa is 2.5% cash back with a $99 annual fee (first year is 3% back and annual fee is waived). It has been our primary card for several years and we are happy with it. Includes no foreign transaction fees and rental car collision coverage.

ImSoGreen
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Re: JPM Chase Reserve Card gets more expensive

Post by ImSoGreen » Wed Jan 08, 2020 7:04 pm

If you live in a city and use Lyft a lot, the 10x points may cover the extra cost.

I spent about 1k last year on Lyft alone (I don't own a car; also use Juno, Uber, Via). 10x points (vs 3) if redeemed for travel (1.5x) on 1k is $105.

That being said, still not thrilled about the change. I usually just pick the cheapest ride, now I'm going to be calculating the 10% extra I'll be getting back with Lyft.

Leesbro63
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Re: JPM Chase Reserve Card gets more expensive

Post by Leesbro63 » Wed Jan 08, 2020 7:17 pm

TravelGeek wrote:
Wed Jan 08, 2020 6:13 pm
WhiteMaxima wrote:
Wed Jan 08, 2020 6:09 pm
Leesbro63 wrote:
Wed Jan 08, 2020 5:53 pm
I just want to confirm that the Chase Sapphire Preferred card (not the card in the subject title) will continue to be $95 and have primary rental car coverage...is that correct?
Costco Citi has primary rental car coverage and it's free (costco member fee is $60)
I'd double-check that.

https://www.cardbenefits.citi.com/~/med ... coCon.ashx

"In the United States, the coverage provided by this benefit is secondary"
Aw man.

MindBogler
Posts: 988
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Re: JPM Chase Reserve Card gets more expensive

Post by MindBogler » Wed Jan 08, 2020 7:27 pm

If you travel for work and use this card, the annual fee is still paying you $50/yr, so I don't get what all the fuss is about. These cards aren't really valuable unless you travel significantly or dine out often.

Example:

-$550 annual fee
+$300 travel/dining credit
+$300 reimbursed travel expense
= +$50

The trick is to hold this card until your first work trip of the annual cycle. This card still pays me to own it, so I will keep it. I will now sign up for Doordash and pick up the extra $60 (+$60) for another net $120/yr. The card is an even better deal now than before if you use it to fund business travel. The new Lyft deal is not too bad, either. I don't use Lyft all the time but I take quite a few rides during the year. The free premium membership is worth a lot.

decapod10
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Re: JPM Chase Reserve Card gets more expensive

Post by decapod10 » Wed Jan 08, 2020 7:29 pm

MindBogler wrote:
Wed Jan 08, 2020 7:27 pm
If you travel for work and use this card, the annual fee is still paying you $50/yr, so I don't get what all the fuss is about. These cards aren't really valuable unless you travel significantly or dine out often.

Example:

-$550 annual fee
+$300 travel/dining credit
+$300 reimbursed travel expense
= +$50

The trick is to hold this card until your first work trip of the annual cycle. This card still pays me to own it, so I will keep it. I will now sign up for Doordash and pick up the extra $60 (+$60) for another net $120/yr. The card is an even better deal now than before if you use it to fund business travel. The new Lyft deal is not too bad, either. I don't use Lyft all the time but I take quite a few rides during the year. The free premium membership is worth a lot.
What is the $300 travel/dining credit? Is that referring to the Doordash membership/credits and the Lyft Membership?

stilllurking
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Re: JPM Chase Reserve Card gets more expensive

Post by stilllurking » Wed Jan 08, 2020 7:35 pm

The $300 travel credit is separate from the other benefits. After you spend an amount on travel, Chase will credit you that amount up to a $300 yearly maximum.

I cancelled this card last year due to the lower rewards return than my BoA combo.

People are reducing the AF by the amounts of these credits. Not sure why. You pay the $550 AF. Then you have to spend $300 to get Chase to credit you the $300. Are you not still out the $550 AF? This goes for any of the reimbursements that credit cards provide. Just my two cents.

Jags4186
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Joined: Wed Jun 18, 2014 7:12 pm

Re: JPM Chase Reserve Card gets more expensive

Post by Jags4186 » Wed Jan 08, 2020 7:40 pm

stilllurking wrote:
Wed Jan 08, 2020 7:35 pm
The $300 travel credit is separate from the other benefits. After you spend an amount on travel, Chase will credit you that amount up to a $300 yearly maximum.

I cancelled this card last year due to the lower rewards return than my BoA combo.

People are reducing the AF by the amounts of these credits. Not sure why. You pay the $550 AF. Then you have to spend $300 to get Chase to credit you the $300. Are you not still out the $550 AF? This goes for any of the reimbursements that credit cards provide. Just my two cents.
Correct, but for many the travel expense is something that happens regardless. I spend $75/mo on EZ Pass whether I have a travel credit or not. So the fact that I’m paying an annual fee and getting a credit for $300 in Ez Pass or not paying an annual fee and paying $300 to EZ pass doesn’t really matter.

Jags4186
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Joined: Wed Jun 18, 2014 7:12 pm

Re: JPM Chase Reserve Card gets more expensive

Post by Jags4186 » Wed Jan 08, 2020 7:41 pm

MindBogler wrote:
Wed Jan 08, 2020 7:27 pm
If you travel for work and use this card, the annual fee is still paying you $50/yr, so I don't get what all the fuss is about. These cards aren't really valuable unless you travel significantly or dine out often.

Example:

-$550 annual fee
+$300 travel/dining credit
+$300 reimbursed travel expense
= +$50

The trick is to hold this card until your first work trip of the annual cycle. This card still pays me to own it, so I will keep it. I will now sign up for Doordash and pick up the extra $60 (+$60) for another net $120/yr. The card is an even better deal now than before if you use it to fund business travel. The new Lyft deal is not too bad, either. I don't use Lyft all the time but I take quite a few rides during the year. The free premium membership is worth a lot.
Yea I don’t follow your math here.

edgeway
Posts: 25
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Re: JPM Chase Reserve Card gets more expensive

Post by edgeway » Wed Jan 08, 2020 7:45 pm

Jags4186 wrote:
Wed Jan 08, 2020 7:40 pm
stilllurking wrote:
Wed Jan 08, 2020 7:35 pm
The $300 travel credit is separate from the other benefits. After you spend an amount on travel, Chase will credit you that amount up to a $300 yearly maximum.

I cancelled this card last year due to the lower rewards return than my BoA combo.

People are reducing the AF by the amounts of these credits. Not sure why. You pay the $550 AF. Then you have to spend $300 to get Chase to credit you the $300. Are you not still out the $550 AF? This goes for any of the reimbursements that credit cards provide. Just my two cents.
Correct, but for many the travel expense is something that happens regardless. I spend $75/mo on EZ Pass whether I have a travel credit or not. So the fact that I’m paying an annual fee and getting a credit for $300 in Ez Pass or not paying an annual fee and paying $300 to EZ pass doesn’t really matter.
It is completely impossible for me to not incur at least $300 in travel each year. I mean just fly once across the country (something I do a dozen times a year) and you get that credit. And that's why everyone with this card reduces the annual fee by the $300 travel credit.

stilllurking
Posts: 122
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Re: JPM Chase Reserve Card gets more expensive

Post by stilllurking » Wed Jan 08, 2020 7:49 pm

edgeway wrote:
Wed Jan 08, 2020 7:45 pm
Jags4186 wrote:
Wed Jan 08, 2020 7:40 pm
stilllurking wrote:
Wed Jan 08, 2020 7:35 pm
The $300 travel credit is separate from the other benefits. After you spend an amount on travel, Chase will credit you that amount up to a $300 yearly maximum.

I cancelled this card last year due to the lower rewards return than my BoA combo.

People are reducing the AF by the amounts of these credits. Not sure why. You pay the $550 AF. Then you have to spend $300 to get Chase to credit you the $300. Are you not still out the $550 AF? This goes for any of the reimbursements that credit cards provide. Just my two cents.
Correct, but for many the travel expense is something that happens regardless. I spend $75/mo on EZ Pass whether I have a travel credit or not. So the fact that I’m paying an annual fee and getting a credit for $300 in Ez Pass or not paying an annual fee and paying $300 to EZ pass doesn’t really matter.
It is completely impossible for me to not incur at least $300 in travel each year. I mean just fly once across the country (something I do a dozen times a year) and you get that credit. And that's why everyone with this card reduces the annual fee by the $300 travel credit.
I travel a couple times a year for pleasure and have to feed the E-ZPass transponder too. I still feel the card isn't adding up to the value it provided up to the first year anniversary. I guess I was fooled by the "reduce the AF camp" for too many years.

To each their own.

the way
Posts: 252
Joined: Sat Oct 26, 2019 6:00 pm

Re: JPM Chase Reserve Card gets more expensive

Post by the way » Wed Jan 08, 2020 7:57 pm

stilllurking wrote:
Wed Jan 08, 2020 7:49 pm
edgeway wrote:
Wed Jan 08, 2020 7:45 pm
Jags4186 wrote:
Wed Jan 08, 2020 7:40 pm
stilllurking wrote:
Wed Jan 08, 2020 7:35 pm
The $300 travel credit is separate from the other benefits. After you spend an amount on travel, Chase will credit you that amount up to a $300 yearly maximum.

I cancelled this card last year due to the lower rewards return than my BoA combo.

People are reducing the AF by the amounts of these credits. Not sure why. You pay the $550 AF. Then you have to spend $300 to get Chase to credit you the $300. Are you not still out the $550 AF? This goes for any of the reimbursements that credit cards provide. Just my two cents.
Correct, but for many the travel expense is something that happens regardless. I spend $75/mo on EZ Pass whether I have a travel credit or not. So the fact that I’m paying an annual fee and getting a credit for $300 in Ez Pass or not paying an annual fee and paying $300 to EZ pass doesn’t really matter.
It is completely impossible for me to not incur at least $300 in travel each year. I mean just fly once across the country (something I do a dozen times a year) and you get that credit. And that's why everyone with this card reduces the annual fee by the $300 travel credit.
I travel a couple times a year for pleasure and have to feed the E-ZPass transponder too. I still feel the card isn't adding up to the value it provided up to the first year anniversary. I guess I was fooled by the "reduce the AF camp" for too many years.

To each their own.
It's a rebate. You mean you don't count off rebates from the price you pay? Either you're getting the $550 AF for $250 or a $300 plane ticket/hotel room for $0. It's weird having to explain this on BH.

Now whether this card is worth $250 or not, is debatable. At $150 it definitely was for the travel partners (point xfer) and the priority pass.

MindBogler
Posts: 988
Joined: Wed Apr 17, 2013 12:05 pm

Re: JPM Chase Reserve Card gets more expensive

Post by MindBogler » Wed Jan 08, 2020 8:17 pm

Jags4186 wrote:
Wed Jan 08, 2020 7:41 pm
MindBogler wrote:
Wed Jan 08, 2020 7:27 pm
If you travel for work and use this card, the annual fee is still paying you $50/yr, so I don't get what all the fuss is about. These cards aren't really valuable unless you travel significantly or dine out often.

Example:

-$550 annual fee
+$300 travel/dining credit
+$300 reimbursed travel expense
= +$50

The trick is to hold this card until your first work trip of the annual cycle. This card still pays me to own it, so I will keep it. I will now sign up for Doordash and pick up the extra $60 (+$60) for another net $120/yr. The card is an even better deal now than before if you use it to fund business travel. The new Lyft deal is not too bad, either. I don't use Lyft all the time but I take quite a few rides during the year. The free premium membership is worth a lot.
Yea I don’t follow your math here.
It is really not that hard if you think about it. When I incur $300 of expense on business travel, my company reimburses me $300. If that same $300 is also reimbursed by the card's $300/yr travel credit... do the math.

Texas50
Posts: 4
Joined: Thu Dec 26, 2019 5:44 pm

Re: JPM Chase Reserve Card gets more expensive

Post by Texas50 » Wed Jan 08, 2020 8:22 pm

Thanks for posting this. I have this card too. I could expense travel and get the card credit so I was up a net $150. Being up only net $50 is so much less appealing. And I don't use DoorDash. Hmm... Guess I could downshift to a Freedom card and keep my points right?

Ron Ronnerson
Posts: 1617
Joined: Sat Oct 26, 2013 6:53 pm
Location: Bay Area

Re: JPM Chase Reserve Card gets more expensive

Post by Ron Ronnerson » Wed Jan 08, 2020 8:35 pm

Thanks for posting this information. The new perks offered with the Reserve card aren’t of much value to me either. My renewal is in October and I think I’ll transfer the points I have remaining to a travel partner such as Southwest Airlines and cancel this card before that time. As of December 2020, it will have been 48 months since I last earned a bonus on a Chase Sapphire credit card so maybe I’ll apply for the Preferred card in a year or so and try to earn another bonus. The $95 annual fee of the Preferred card is a lot easier to swallow than $550 for the Reserve.

muffins14
Posts: 207
Joined: Wed Oct 26, 2016 4:14 am

Re: JPM Chase Reserve Card gets more expensive

Post by muffins14 » Wed Jan 08, 2020 8:42 pm

MindBogler wrote:
Wed Jan 08, 2020 8:17 pm
Jags4186 wrote:
Wed Jan 08, 2020 7:41 pm
MindBogler wrote:
Wed Jan 08, 2020 7:27 pm
If you travel for work and use this card, the annual fee is still paying you $50/yr, so I don't get what all the fuss is about. These cards aren't really valuable unless you travel significantly or dine out often.

Example:

-$550 annual fee
+$300 travel/dining credit
+$300 reimbursed travel expense
= +$50

The trick is to hold this card until your first work trip of the annual cycle. This card still pays me to own it, so I will keep it. I will now sign up for Doordash and pick up the extra $60 (+$60) for another net $120/yr. The card is an even better deal now than before if you use it to fund business travel. The new Lyft deal is not too bad, either. I don't use Lyft all the time but I take quite a few rides during the year. The free premium membership is worth a lot.
Yea I don’t follow your math here.
It is really not that hard if you think about it. When I incur $300 of expense on business travel, my company reimburses me $300. If that same $300 is also reimbursed by the card's $300/yr travel credit... do the math.

You paid for the business travel and then had it reimbursed:

-$550 annual fee
+$300 travel/dining credit
-$300 you paid for travel expense
+$300 reimbursed travel expense
= -$250

unless your company pays you double your expenses

MindBogler
Posts: 988
Joined: Wed Apr 17, 2013 12:05 pm

Re: JPM Chase Reserve Card gets more expensive

Post by MindBogler » Wed Jan 08, 2020 8:59 pm

muffins14 wrote:
Wed Jan 08, 2020 8:42 pm
You paid for the business travel and then had it reimbursed:

-$550 annual fee
+$300 travel/dining credit
-$300 you paid for travel expense
+$300 reimbursed travel expense
= -$250

unless your company pays you double your expenses
Well, you're right. And I'm okay admitting it. :oops:

Still, if you use the doordash for a corp expense that takes it to $190, a $40 increase. And if the Lyft benefit would be used, it still ends up better than before.

hachiko
Posts: 46
Joined: Fri Mar 17, 2017 1:56 pm

Re: JPM Chase Reserve Card gets more expensive

Post by hachiko » Wed Jan 08, 2020 9:12 pm

Most people are limited in the number of cards they can hold at any given time. The question isn't whether the benefits outweigh the annual fee. The question is whether the benefits minus the annual fee is more than the benefits minus annual fee of a card you could PC to.

Jags4186
Posts: 4857
Joined: Wed Jun 18, 2014 7:12 pm

Re: JPM Chase Reserve Card gets more expensive

Post by Jags4186 » Wed Jan 08, 2020 9:52 pm

MindBogler wrote:
Wed Jan 08, 2020 8:17 pm
Jags4186 wrote:
Wed Jan 08, 2020 7:41 pm
MindBogler wrote:
Wed Jan 08, 2020 7:27 pm
If you travel for work and use this card, the annual fee is still paying you $50/yr, so I don't get what all the fuss is about. These cards aren't really valuable unless you travel significantly or dine out often.

Example:

-$550 annual fee
+$300 travel/dining credit
+$300 reimbursed travel expense
= +$50

The trick is to hold this card until your first work trip of the annual cycle. This card still pays me to own it, so I will keep it. I will now sign up for Doordash and pick up the extra $60 (+$60) for another net $120/yr. The card is an even better deal now than before if you use it to fund business travel. The new Lyft deal is not too bad, either. I don't use Lyft all the time but I take quite a few rides during the year. The free premium membership is worth a lot.
Yea I don’t follow your math here.
It is really not that hard if you think about it. When I incur $300 of expense on business travel, my company reimburses me $300. If that same $300 is also reimbursed by the card's $300/yr travel credit... do the math.
Sure:

$300 business expense - $300 reimbursement - $300 CSR credit = -$300.

-$300 + $450 (soon $550) = $150 ($250) in annual fee paid.

You received a $300 credit. It is not $600 in your pocket, it is $300 in your pocket that you already fronted.

If in the month your card renewed you’re charged the $450 annual fee and put $300 in reimbursable business travel on your card you’d have a bill that is $750, receive a $300 statement credit, receive a $300 check from your company, and have $150 still to pay out of your pocket.

student
Posts: 4877
Joined: Fri Apr 03, 2015 6:58 am

Re: JPM Chase Reserve Card gets more expensive

Post by student » Wed Jan 08, 2020 9:58 pm

Jags4186 wrote:
Wed Jan 08, 2020 9:52 pm
MindBogler wrote:
Wed Jan 08, 2020 8:17 pm
Jags4186 wrote:
Wed Jan 08, 2020 7:41 pm
MindBogler wrote:
Wed Jan 08, 2020 7:27 pm
If you travel for work and use this card, the annual fee is still paying you $50/yr, so I don't get what all the fuss is about. These cards aren't really valuable unless you travel significantly or dine out often.

Example:

-$550 annual fee
+$300 travel/dining credit
+$300 reimbursed travel expense
= +$50

The trick is to hold this card until your first work trip of the annual cycle. This card still pays me to own it, so I will keep it. I will now sign up for Doordash and pick up the extra $60 (+$60) for another net $120/yr. The card is an even better deal now than before if you use it to fund business travel. The new Lyft deal is not too bad, either. I don't use Lyft all the time but I take quite a few rides during the year. The free premium membership is worth a lot.
Yea I don’t follow your math here.
It is really not that hard if you think about it. When I incur $300 of expense on business travel, my company reimburses me $300. If that same $300 is also reimbursed by the card's $300/yr travel credit... do the math.
Sure:

$300 business expense - $300 reimbursement - $300 CSR credit = -$300.

-$300 + $450 (soon $550) = $150 ($250) in annual fee paid.

You received a $300 credit. It is not $600 in your pocket, it is $300 in your pocket that you already fronted.

If in the month your card renewed you paid your $450 annual fee and charged $300 in reimbursable business travel you’d have a bill that is $750, receive a $300 statement credit, receive a $300 check from your company, and have a $150 bill to pay.
I think MindBogler has already acknowledged a couple of posts above that he/she has made a mistake.

Jags4186
Posts: 4857
Joined: Wed Jun 18, 2014 7:12 pm

Re: JPM Chase Reserve Card gets more expensive

Post by Jags4186 » Wed Jan 08, 2020 10:01 pm

student wrote:
Wed Jan 08, 2020 9:58 pm
Jags4186 wrote:
Wed Jan 08, 2020 9:52 pm
MindBogler wrote:
Wed Jan 08, 2020 8:17 pm
Jags4186 wrote:
Wed Jan 08, 2020 7:41 pm
MindBogler wrote:
Wed Jan 08, 2020 7:27 pm
If you travel for work and use this card, the annual fee is still paying you $50/yr, so I don't get what all the fuss is about. These cards aren't really valuable unless you travel significantly or dine out often.

Example:

-$550 annual fee
+$300 travel/dining credit
+$300 reimbursed travel expense
= +$50

The trick is to hold this card until your first work trip of the annual cycle. This card still pays me to own it, so I will keep it. I will now sign up for Doordash and pick up the extra $60 (+$60) for another net $120/yr. The card is an even better deal now than before if you use it to fund business travel. The new Lyft deal is not too bad, either. I don't use Lyft all the time but I take quite a few rides during the year. The free premium membership is worth a lot.
Yea I don’t follow your math here.
It is really not that hard if you think about it. When I incur $300 of expense on business travel, my company reimburses me $300. If that same $300 is also reimbursed by the card's $300/yr travel credit... do the math.
Sure:

$300 business expense - $300 reimbursement - $300 CSR credit = -$300.

-$300 + $450 (soon $550) = $150 ($250) in annual fee paid.

You received a $300 credit. It is not $600 in your pocket, it is $300 in your pocket that you already fronted.

If in the month your card renewed you paid your $450 annual fee and charged $300 in reimbursable business travel you’d have a bill that is $750, receive a $300 statement credit, receive a $300 check from your company, and have a $150 bill to pay.
I think MindBogler has already acknowledged a couple of posts above that he/she has made a mistake.
He certainly did. I didn’t read everything.

lkar
Posts: 278
Joined: Sat May 04, 2019 4:02 pm

Re: JPM Chase Reserve Card gets more expensive

Post by lkar » Wed Jan 08, 2020 11:01 pm

Welp, I guess this makes it easier to cancel now. I’m coming up on 48 months fairly soon anyway and think I will be under 5/24 so probably a good idea to dump the card anyway to get a 60k bonus on preferred. I like the reserve but this makes it an easy call. Where it might get difficult is if they do some retention offers to try to soften the extra $100.

sparksfly
Posts: 51
Joined: Mon Oct 16, 2017 9:57 pm

Re: JPM Chase Reserve Card gets more expensive

Post by sparksfly » Wed Jan 08, 2020 11:25 pm

One additional item that OP missed in the list of new perks is 10 pts/dollar on Lyft rides for reserve and 5 pts/dollar for other chase card (freedom/unlimited and sapphire preferred).

Most people will likely not get much value from it unless they use ridershare a lot. To me, this new benefit alone is double the $100 AF increase. My Lyft expense for 2019 was more than $4,000. That's enough for me to continue with this card for this year and next.

HEDGEFUNDIE
Posts: 4801
Joined: Sun Oct 22, 2017 2:06 pm

Re: JPM Chase Reserve Card gets more expensive

Post by HEDGEFUNDIE » Wed Jan 08, 2020 11:29 pm

sparksfly wrote:
Wed Jan 08, 2020 11:25 pm
One additional item that OP missed in the list of new perks is 10 pts/dollar on Lyft rides for reserve and 5 pts/dollar for other chase card (freedom/unlimited and sapphire preferred).

Most people will likely not get much value from it unless they use ridershare a lot. To me, this new benefit alone is double the $100 AF increase. My Lyft expense for 2019 was more than $4,000. That's enough for me to continue with this card for this year and next.
:shock:

That’s basically a car lease plus gas...

sparksfly
Posts: 51
Joined: Mon Oct 16, 2017 9:57 pm

Re: JPM Chase Reserve Card gets more expensive

Post by sparksfly » Wed Jan 08, 2020 11:32 pm

HEDGEFUNDIE wrote:
Wed Jan 08, 2020 11:29 pm
sparksfly wrote:
Wed Jan 08, 2020 11:25 pm
One additional item that OP missed in the list of new perks is 10 pts/dollar on Lyft rides for reserve and 5 pts/dollar for other chase card (freedom/unlimited and sapphire preferred).

Most people will likely not get much value from it unless they use ridershare a lot. To me, this new benefit alone is double the $100 AF increase. My Lyft expense for 2019 was more than $4,000. That's enough for me to continue with this card for this year and next.
:shock:

That’s basically a car lease plus gas...
Work related travel - to and from airports adds up. I don't pay for it :mrgreen:

HEDGEFUNDIE
Posts: 4801
Joined: Sun Oct 22, 2017 2:06 pm

Re: JPM Chase Reserve Card gets more expensive

Post by HEDGEFUNDIE » Wed Jan 08, 2020 11:36 pm

sparksfly wrote:
Wed Jan 08, 2020 11:32 pm
HEDGEFUNDIE wrote:
Wed Jan 08, 2020 11:29 pm
sparksfly wrote:
Wed Jan 08, 2020 11:25 pm
One additional item that OP missed in the list of new perks is 10 pts/dollar on Lyft rides for reserve and 5 pts/dollar for other chase card (freedom/unlimited and sapphire preferred).

Most people will likely not get much value from it unless they use ridershare a lot. To me, this new benefit alone is double the $100 AF increase. My Lyft expense for 2019 was more than $4,000. That's enough for me to continue with this card for this year and next.
:shock:

That’s basically a car lease plus gas...
Work related travel - to and from airports adds up. I don't pay for it :mrgreen:
Your work allows company expenses on a personal card? Lucky you

HornedToad
Posts: 1029
Joined: Wed May 21, 2008 12:36 am

Re: JPM Chase Reserve Card gets more expensive

Post by HornedToad » Wed Jan 08, 2020 11:43 pm

MindBogler wrote:
Wed Jan 08, 2020 8:17 pm
Jags4186 wrote:
Wed Jan 08, 2020 7:41 pm
MindBogler wrote:
Wed Jan 08, 2020 7:27 pm
If you travel for work and use this card, the annual fee is still paying you $50/yr, so I don't get what all the fuss is about. These cards aren't really valuable unless you travel significantly or dine out often.

Example:

-$550 annual fee
+$300 travel/dining credit
+$300 reimbursed travel expense
= +$50

The trick is to hold this card until your first work trip of the annual cycle. This card still pays me to own it, so I will keep it. I will now sign up for Doordash and pick up the extra $60 (+$60) for another net $120/yr. The card is an even better deal now than before if you use it to fund business travel. The new Lyft deal is not too bad, either. I don't use Lyft all the time but I take quite a few rides during the year. The free premium membership is worth a lot.
Yea I don’t follow your math here.
It is really not that hard if you think about it. When I incur $300 of expense on business travel, my company reimburses me $300. If that same $300 is also reimbursed by the card's $300/yr travel credit... do the math.
This math only works if you don't spend $300 in personal travel. Otherwise you are double counting company reimbursement and card reimbursement.

The easy way to view the card is previously it had a net $150 annual fee, now it's a $250 annual fee. Whether that's worth it depends on use of Chase portal/transfer partners and other desired credit cards.

AlphaLess
Posts: 2620
Joined: Fri Sep 29, 2017 11:38 pm
Location: Kentucky

Re: JPM Chase Reserve Card gets more expensive

Post by AlphaLess » Wed Jan 08, 2020 11:46 pm

WhiteMaxima wrote:
Wed Jan 08, 2020 3:53 pm
membership fee raised from $450 to $550, with additional benefit.
This was all started by Amex Plat, whereby they raised from 450 to 550.

Citi prestige followed.

Then Chase.

Economy is doing well, and they have too many cardholders as it is.

Amex Platinum is almost free:
- 200 Uber credits,
- 200 airline credits,
- 100 Saks Fifth credits.

So effective annual fee is $50.

Plus Personal Plat has a beautiful feature: for $175 a year, you can get 3 more authorized users, each of which can use both Centurion Lounge and get their own Priority Pass.

Chase Sapphire Reserve was effective ann.fee of $150, which was palatable.

Need to consider what to keep at this point.
"A Republic, if you can keep it". Benjamin Franklin. 1787. | Party affiliation: Vanguard. Religion: low-cost investing.

sparksfly
Posts: 51
Joined: Mon Oct 16, 2017 9:57 pm

Re: JPM Chase Reserve Card gets more expensive

Post by sparksfly » Wed Jan 08, 2020 11:54 pm

HEDGEFUNDIE wrote:
Wed Jan 08, 2020 11:36 pm
sparksfly wrote:
Wed Jan 08, 2020 11:32 pm
HEDGEFUNDIE wrote:
Wed Jan 08, 2020 11:29 pm
sparksfly wrote:
Wed Jan 08, 2020 11:25 pm
One additional item that OP missed in the list of new perks is 10 pts/dollar on Lyft rides for reserve and 5 pts/dollar for other chase card (freedom/unlimited and sapphire preferred).

Most people will likely not get much value from it unless they use ridershare a lot. To me, this new benefit alone is double the $100 AF increase. My Lyft expense for 2019 was more than $4,000. That's enough for me to continue with this card for this year and next.
:shock:

That’s basically a car lease plus gas...
Work related travel - to and from airports adds up. I don't pay for it :mrgreen:
Your work allows company expenses on a personal card? Lucky you
This is small potatoes compared to the gains in UPRO/TMF portfolio...thanks to you :beer

I digress

HEDGEFUNDIE
Posts: 4801
Joined: Sun Oct 22, 2017 2:06 pm

Re: JPM Chase Reserve Card gets more expensive

Post by HEDGEFUNDIE » Thu Jan 09, 2020 12:07 am

sparksfly wrote:
Wed Jan 08, 2020 11:54 pm
HEDGEFUNDIE wrote:
Wed Jan 08, 2020 11:36 pm
sparksfly wrote:
Wed Jan 08, 2020 11:32 pm
HEDGEFUNDIE wrote:
Wed Jan 08, 2020 11:29 pm
sparksfly wrote:
Wed Jan 08, 2020 11:25 pm
One additional item that OP missed in the list of new perks is 10 pts/dollar on Lyft rides for reserve and 5 pts/dollar for other chase card (freedom/unlimited and sapphire preferred).

Most people will likely not get much value from it unless they use ridershare a lot. To me, this new benefit alone is double the $100 AF increase. My Lyft expense for 2019 was more than $4,000. That's enough for me to continue with this card for this year and next.
:shock:

That’s basically a car lease plus gas...
Work related travel - to and from airports adds up. I don't pay for it :mrgreen:
Your work allows company expenses on a personal card? Lucky you
This is small potatoes compared to the gains in UPRO/TMF portfolio...thanks to you :beer

I digress
You’re welcome.

You just inspired me to count up my Lyft + Uber rides for last year. They totaled $1500! All personal.

The Lyft discounts more than offsets the $250 net annual fee.

sparksfly
Posts: 51
Joined: Mon Oct 16, 2017 9:57 pm

Re: JPM Chase Reserve Card gets more expensive

Post by sparksfly » Thu Jan 09, 2020 12:18 am

AlphaLess wrote:
Wed Jan 08, 2020 11:46 pm
WhiteMaxima wrote:
Wed Jan 08, 2020 3:53 pm
membership fee raised from $450 to $550, with additional benefit.
This was all started by Amex Plat, whereby they raised from 450 to 550.

Citi prestige followed.

Then Chase.

Economy is doing well, and they have too many cardholders as it is.

Amex Platinum is almost free:
- 200 Uber credits,
- 200 airline credits,
- 100 Saks Fifth credits.

So effective annual fee is $50.

Plus Personal Plat has a beautiful feature: for $175 a year, you can get 3 more authorized users, each of which can use both Centurion Lounge and get their own Priority Pass.

Chase Sapphire Reserve was effective ann.fee of $150, which was palatable.

Need to consider what to keep at this point.
Unfortunately, I almost never have any airline incidental expense (Amex Plat only covers incidental expense...not fare) and I just don't find Saks credit useful...forced to buy something from a specific store :?

In my situation, reserve is still much ahead of others - all the benefits works well for me. Their $300 travel credit definition is super broad...almost everyone can get that credit. Lyft cashback will be very useful for me and while we don't do food delivery much, taking advantage of $60 DD credit in an entire year isn't difficult.

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