JPM Chase Reserve Card gets more expensive

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drk
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Re: JPM Chase Reserve Card gets more expensive

Post by drk » Sat Apr 04, 2020 5:05 pm

student wrote:
Sat Apr 04, 2020 4:14 pm
I think one need to wait one year before one can do a product change.
That's true. I inferred (possibly incorrectly) that the poster has held the card for longer than that based on their comment that "if it was a good deal at $450 then it will be a good deal at $550."

Eno Deb
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Re: JPM Chase Reserve Card gets more expensive

Post by Eno Deb » Sat Apr 04, 2020 5:12 pm

TravelGeek wrote:
Sat Apr 04, 2020 5:03 pm
You are obviously a big vague (“won’t be fully lifted”), but if I can’t travel or dine out for 1-2 years, the annual fee of the card is probably a drop in the bucket of the financial impact of such a situation (looking at my account balances, it already is a rounding error).
Sure, but once you have a certain amount that can be said about pretty much any discretionary expense. Doesn't mean it's wise to waste money.

Personally I had already cancelled my CSR before all this when they raised the annual fee, given that I didn't travel as much as I used to and it got more and more difficult to find good partner redemption options for the points. If I still had it, I would certainly cancel it now before the next annual fee hit.

palanzo
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Re: JPM Chase Reserve Card gets more expensive

Post by palanzo » Sat Apr 04, 2020 5:15 pm

Eno Deb wrote:
Sat Apr 04, 2020 5:12 pm
TravelGeek wrote:
Sat Apr 04, 2020 5:03 pm
You are obviously a big vague (“won’t be fully lifted”), but if I can’t travel or dine out for 1-2 years, the annual fee of the card is probably a drop in the bucket of the financial impact of such a situation (looking at my account balances, it already is a rounding error).
Sure, but once you have a certain amount that can be said about pretty much any discretionary expense. Doesn't mean it's wise to waste money.

Personally I had already cancelled my CSR before all this when they raised the annual fee, given that I didn't travel as much as I used to and it got more and more difficult to find good partner redemption options for the points. If I still had it, I would certainly cancel it now before the next annual fee hit.
What would you do with your points?

Eno Deb
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Re: JPM Chase Reserve Card gets more expensive

Post by Eno Deb » Sat Apr 04, 2020 5:37 pm

palanzo wrote:
Sat Apr 04, 2020 5:15 pm
What would you do with your points?
Luckily I didn't have that problem since I had used up most of my points for United business class tickets to Europe last year. Otherwise I would probably transfer them to one of the less expensive Chase cards (Freedom or CSP) and leave them there until traveling is back.

palanzo
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Re: JPM Chase Reserve Card gets more expensive

Post by palanzo » Sat Apr 04, 2020 6:18 pm

Eno Deb wrote:
Sat Apr 04, 2020 5:37 pm
palanzo wrote:
Sat Apr 04, 2020 5:15 pm
What would you do with your points?
Luckily I didn't have that problem since I had used up most of my points for United business class tickets to Europe last year. Otherwise I would probably transfer them to one of the less expensive Chase cards (Freedom or CSP) and leave them there until traveling is back.
That's what I have done. Changed Reserve to Freedom Unlimited. Not sure whether to keep points or cash out.

UpperNwGuy
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Re: JPM Chase Reserve Card gets more expensive

Post by UpperNwGuy » Sun Apr 05, 2020 1:50 pm

I don’t think investment portfolios and credit card portfolios are at all similar. No point in comparing them.

Eno Deb
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Re: JPM Chase Reserve Card gets more expensive

Post by Eno Deb » Sun Apr 05, 2020 2:34 pm

afan wrote:
Sun Apr 05, 2020 9:26 am
I find it inconceivable that travel restrictions will last more than a couple more months.
I think we'll have to get used to many "inconceivable" things. A few months ago nobody would have believed that we'd have a nationwide lockdown. This will almost certainly be a once-in-a-generation recession, worse than 2008. Business travel will not just snap back to normal in September. Big international conferences will no longer be held until large scale vaccination is done globally. Remember that events like Mobile World Congress were already cancelled before it became clear that this would develop into a global pandemic. It's even possible that business travel will never go back to where it once was, since many businesses are currently adapting and learning how to do more things remotely. International tourism will also be way down for years because of fear and uncertainty (not to mention shrinking family budgets).
Remember, the restrictions on travel and gathering are not intended to prevent people from getting COVID19. They are to slow down the rates of infection so that the health system does not become overwhelmed. We are trying to avoid an Italian situation.
Yes, and as long as the population has not gained a certain level of immunity, we'll have to keep it up to prevent further waves once the first one is over.
Many people may be reluctant to travel, particularly to cram into airplanes. I would not have subjected myself to the floating Petri dish of a cruise ship long before this came along. Cannot imagine why anyone would. Other than air travel or cruise ships, going away will be safe.
Would you want to stay at a crowded hotel right now?
Not all travel requires getting on airplanes. There are these things called cars...
Sure, but a CSP is not particularly useful for that.

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amp
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Re: JPM Chase Reserve Card gets more expensive

Post by amp » Sun Apr 05, 2020 3:21 pm

Eno Deb wrote:
Sun Apr 05, 2020 2:34 pm
afan wrote:
Sun Apr 05, 2020 9:26 am
Remember, the restrictions on travel and gathering are not intended to prevent people from getting COVID19. They are to slow down the rates of infection so that the health system does not become overwhelmed. We are trying to avoid an Italian situation.
Yes, and as long as the population has not gained a certain level of immunity, we'll have to keep it up to prevent further waves once the first one is over.
I believe the jury is still out on whether one can get reinfected with the virus after becoming ill and recovering.

I know I will be hesitant to do any sort of overseas travel if there's a realistic chance that I may find myself in a foreign hospital. And with the way the U.S. health care system is set up, having to deal with out-of-network rates, balance billing, etc. may just put the kibosh on most domestic trips as well.

AZAttorney11
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Re: JPM Chase Reserve Card gets more expensive

Post by AZAttorney11 » Sun Apr 05, 2020 3:24 pm

HEDGEFUNDIE wrote:
Sat Apr 04, 2020 1:09 pm
EnjoyIt wrote:
Sat Apr 04, 2020 1:05 pm
HEDGEFUNDIE wrote:
Sat Apr 04, 2020 1:01 pm
MikeG62 wrote:
Sat Apr 04, 2020 12:55 pm
I’m not locking myself inside or permanently suspending my T&E on the off chance we get hit with another pandemic in my lifetime. If for some reason there is another one, there will be plenty of advance warnings going off (as there was with Covid-19) for folks to cancel travel well ahead of time.
To me there no difference between saying this and saying it’s fine to be 100% stocks because “there will be plenty of advance warnings going off”
Meh,
We are already looking to travel and thinking up where to go next year. I have friends who are huge cruise ship fans and they can't wait to get back on a ship. Your feelings are not the feelings of everyone.
For your friends’ sake I hope there will still be cruise ships when this is all over. I wouldn’t bet on that either.
HEDGEFUNDIE, I'm willing to make that bet. Shall we come up with a proper bet and terms? :sharebeer

palanzo
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Re: JPM Chase Reserve Card gets more expensive

Post by palanzo » Sun Apr 05, 2020 3:29 pm

Eno Deb wrote:
Sun Apr 05, 2020 2:34 pm
afan wrote:
Sun Apr 05, 2020 9:26 am
I find it inconceivable that travel restrictions will last more than a couple more months.
I think we'll have to get used to many "inconceivable" things. A few months ago nobody would have believed that we'd have a nationwide lockdown. This will almost certainly be a once-in-a-generation recession, worse than 2008. Business travel will not just snap back to normal in September. Big international conferences will no longer be held until large scale vaccination is done globally. Remember that events like Mobile World Congress were already cancelled before it became clear that this would develop into a global pandemic. It's even possible that business travel will never go back to where it once was, since many businesses are currently adapting and learning how to do more things remotely. International tourism will also be way down for years because of fear and uncertainty (not to mention shrinking family budgets).
Remember, the restrictions on travel and gathering are not intended to prevent people from getting COVID19. They are to slow down the rates of infection so that the health system does not become overwhelmed. We are trying to avoid an Italian situation.
Yes, and as long as the population has not gained a certain level of immunity, we'll have to keep it up to prevent further waves once the first one is over.
Many people may be reluctant to travel, particularly to cram into airplanes. I would not have subjected myself to the floating Petri dish of a cruise ship long before this came along. Cannot imagine why anyone would. Other than air travel or cruise ships, going away will be safe.
Would you want to stay at a crowded hotel right now?
Not all travel requires getting on airplanes. There are these things called cars...
Sure, but a CSP is not particularly useful for that.
I could not agree more Eno Deb.

Bill Gates has said that
Things won’t go back to truly normal until we have a vaccine that we’ve gotten out to basically the entire world.
He's been studying pandemics for a lot longer than anyone here I would venture to say and he predicted what would happen in a pandemic such as the one we find ourselves in. Sadly no one in Washington DC or the individual States listened to him.

I can't imagine that I would fly to Italy and stay in a hotel or AirBnB there until we have a safe and proven vaccine that has been widely adopted. I was planning on spending a year in Europe but the pandemic intervened.

EnjoyIt
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Re: JPM Chase Reserve Card gets more expensive

Post by EnjoyIt » Sun Apr 05, 2020 3:41 pm

AZAttorney11 wrote:
Sun Apr 05, 2020 3:24 pm
HEDGEFUNDIE wrote:
Sat Apr 04, 2020 1:09 pm
EnjoyIt wrote:
Sat Apr 04, 2020 1:05 pm
HEDGEFUNDIE wrote:
Sat Apr 04, 2020 1:01 pm
MikeG62 wrote:
Sat Apr 04, 2020 12:55 pm
I’m not locking myself inside or permanently suspending my T&E on the off chance we get hit with another pandemic in my lifetime. If for some reason there is another one, there will be plenty of advance warnings going off (as there was with Covid-19) for folks to cancel travel well ahead of time.
To me there no difference between saying this and saying it’s fine to be 100% stocks because “there will be plenty of advance warnings going off”
Meh,
We are already looking to travel and thinking up where to go next year. I have friends who are huge cruise ship fans and they can't wait to get back on a ship. Your feelings are not the feelings of everyone.
For your friends’ sake I hope there will still be cruise ships when this is all over. I wouldn’t bet on that either.
HEDGEFUNDIE, I'm willing to make that bet. Shall we come up with a proper bet and terms? :sharebeer
The bet is simple. I offered it to Hendgefundie and he has not responded.

He sells me 1 share of Royal Caribbean stock today. He then buys it back from me in 2 years time no matter the price.

I wonder if there is a way to get a contract out like this.
A time to EVALUATE your jitters. | https://www.bogleheads.org/forum/viewtopic.php?f=10&t=79939&start=400#p5275418

HEDGEFUNDIE
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Re: JPM Chase Reserve Card gets more expensive

Post by HEDGEFUNDIE » Sun Apr 05, 2020 3:47 pm

EnjoyIt wrote:
Sun Apr 05, 2020 3:41 pm
AZAttorney11 wrote:
Sun Apr 05, 2020 3:24 pm
HEDGEFUNDIE wrote:
Sat Apr 04, 2020 1:09 pm
EnjoyIt wrote:
Sat Apr 04, 2020 1:05 pm
HEDGEFUNDIE wrote:
Sat Apr 04, 2020 1:01 pm


To me there no difference between saying this and saying it’s fine to be 100% stocks because “there will be plenty of advance warnings going off”
Meh,
We are already looking to travel and thinking up where to go next year. I have friends who are huge cruise ship fans and they can't wait to get back on a ship. Your feelings are not the feelings of everyone.
For your friends’ sake I hope there will still be cruise ships when this is all over. I wouldn’t bet on that either.
HEDGEFUNDIE, I'm willing to make that bet. Shall we come up with a proper bet and terms? :sharebeer
The bet is simple. I offered it to Hendgefundie and he has not responded.

He sells me 1 share of Royal Caribbean stock today. He then buys it back from me in 2 years time no matter the price.

I wonder if there is a way to get a contract out like this.
I will absolutely take that bet.

RCL closed at $24 on Friday. Let’s check back in two years.

The loser donates the winner’s profits to a charity chosen by the winner.

EnjoyIt
Posts: 4186
Joined: Sun Dec 29, 2013 8:06 pm

Re: JPM Chase Reserve Card gets more expensive

Post by EnjoyIt » Sun Apr 05, 2020 4:10 pm

HEDGEFUNDIE wrote:
Sun Apr 05, 2020 3:47 pm
EnjoyIt wrote:
Sun Apr 05, 2020 3:41 pm
AZAttorney11 wrote:
Sun Apr 05, 2020 3:24 pm
HEDGEFUNDIE wrote:
Sat Apr 04, 2020 1:09 pm
EnjoyIt wrote:
Sat Apr 04, 2020 1:05 pm


Meh,
We are already looking to travel and thinking up where to go next year. I have friends who are huge cruise ship fans and they can't wait to get back on a ship. Your feelings are not the feelings of everyone.
For your friends’ sake I hope there will still be cruise ships when this is all over. I wouldn’t bet on that either.
HEDGEFUNDIE, I'm willing to make that bet. Shall we come up with a proper bet and terms? :sharebeer
The bet is simple. I offered it to Hendgefundie and he has not responded.

He sells me 1 share of Royal Caribbean stock today. He then buys it back from me in 2 years time no matter the price.

I wonder if there is a way to get a contract out like this.
I will absolutely take that bet.

RCL closed at $24 on Friday. Let’s check back in two years.

The loser donates the winner’s profits to a charity chosen by the winner.
Ok, I like that. I also like that it goes to a charity. $24 today and then on 4/5/2022 charity gets the difference.

I hope you realize that the most I can lose is $24. The most you can lose is substantially more.
A time to EVALUATE your jitters. | https://www.bogleheads.org/forum/viewtopic.php?f=10&t=79939&start=400#p5275418

AZAttorney11
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Re: JPM Chase Reserve Card gets more expensive

Post by AZAttorney11 » Sun Apr 05, 2020 4:15 pm

EnjoyIt wrote:
Sun Apr 05, 2020 4:10 pm
HEDGEFUNDIE wrote:
Sun Apr 05, 2020 3:47 pm
EnjoyIt wrote:
Sun Apr 05, 2020 3:41 pm
AZAttorney11 wrote:
Sun Apr 05, 2020 3:24 pm
HEDGEFUNDIE wrote:
Sat Apr 04, 2020 1:09 pm


For your friends’ sake I hope there will still be cruise ships when this is all over. I wouldn’t bet on that either.
HEDGEFUNDIE, I'm willing to make that bet. Shall we come up with a proper bet and terms? :sharebeer
The bet is simple. I offered it to Hendgefundie and he has not responded.

He sells me 1 share of Royal Caribbean stock today. He then buys it back from me in 2 years time no matter the price.

I wonder if there is a way to get a contract out like this.
I will absolutely take that bet.

RCL closed at $24 on Friday. Let’s check back in two years.

The loser donates the winner’s profits to a charity chosen by the winner.
Ok, I like that. I also like that it goes to a charity. $24 today and then on 4/5/2022 charity gets the difference.

I hope you realize that the most I can lose is $24. The most you can lose is substantially more.
Don't worry, his username is HEDGEFUNDIE and the Excellent Adventure appears to be working quite well.

HEDGEFUNDIE
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Re: JPM Chase Reserve Card gets more expensive

Post by HEDGEFUNDIE » Sun Apr 05, 2020 6:17 pm

EnjoyIt wrote:
Sun Apr 05, 2020 4:10 pm
HEDGEFUNDIE wrote:
Sun Apr 05, 2020 3:47 pm
EnjoyIt wrote:
Sun Apr 05, 2020 3:41 pm
AZAttorney11 wrote:
Sun Apr 05, 2020 3:24 pm
HEDGEFUNDIE wrote:
Sat Apr 04, 2020 1:09 pm


For your friends’ sake I hope there will still be cruise ships when this is all over. I wouldn’t bet on that either.
HEDGEFUNDIE, I'm willing to make that bet. Shall we come up with a proper bet and terms? :sharebeer
The bet is simple. I offered it to Hendgefundie and he has not responded.

He sells me 1 share of Royal Caribbean stock today. He then buys it back from me in 2 years time no matter the price.

I wonder if there is a way to get a contract out like this.
I will absolutely take that bet.

RCL closed at $24 on Friday. Let’s check back in two years.

The loser donates the winner’s profits to a charity chosen by the winner.
Ok, I like that. I also like that it goes to a charity. $24 today and then on 4/5/2022 charity gets the difference.

I hope you realize that the most I can lose is $24. The most you can lose is substantially more.
The fact that I am still willing to take on such a lop sided bet should give you pause.

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

Re: JPM Chase Reserve Card gets more expensive

Post by HEDGEFUNDIE » Mon Apr 06, 2020 9:41 am

United Airlines not only extended everyone’s elite status by a year, they just cut in half the requirements to attain each tier of status. Does anyone think they would have done that if they thought travel was going to come back on its own in a few months?

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LadyGeek
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Re: JPM Chase Reserve Card gets more expensive

Post by LadyGeek » Mon Apr 06, 2020 11:02 am

I removed several off-topic posts and replies related to coronavirus. As a reminder, the main intent of the post must be relevant to the topic under discussion (JPM Chase Reserve Card).

See: Please read before posting on coronavirus/COVID-19
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armeliusc
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Re: JPM Chase Reserve Card gets more expensive

Post by armeliusc » Fri May 01, 2020 12:16 pm

BeneIRA wrote:
Sat Apr 04, 2020 1:57 pm
I wanted to circle back on the idea of downgrading this, perhaps to the Sapphire Preferred or the Freedom and then later on upgrading it back to the Reserve to save the annual fee. Currently and for the foreseeable future, the following benefits have little to no value:

Priority Pass Membership (No Value)
Lyft Pink (No Value)
Primary Rental Car Insurance (No Value)
3X on Travel Purchase (No Value)
Travel Insurance (No Value)
1.5X Travel Purchases on Chase Portal (Very Little Value)
Transfer to Travel Partners (Very Little Value)

So, with that being said, why is the card worth $550? Depending on when you think you'll use the benefits again, especially if your renewal date is very shortly after that window where they aren't providing the $100 annual fee credit. Even the $300 travel credit is going to take a bit of work to use in this climate. I think the downgrade now, upgrade later strategy might bear some fruit for people.
I am considering doing this: downgrading to one of the no-annual fee card for now. My AF is supposed to hit today. I still have about 70K points though. On one hand I have Freedom Unlimited so I guess I can part my UR points there for now. On the other hand, I am not sure what I am going to downgrade to, Freedom ? Can one have both Freedom and Freedom Unlimited?

Even if I have to wait a year before I go back to CSR or CSP, I think that would be fine. Where does it says one has to wait 1 year for another product change? (Someone down this thread mentioned it ... )

BeneIRA
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Re: JPM Chase Reserve Card gets more expensive

Post by BeneIRA » Fri May 01, 2020 1:29 pm

armeliusc wrote:
Fri May 01, 2020 12:16 pm
BeneIRA wrote:
Sat Apr 04, 2020 1:57 pm
I wanted to circle back on the idea of downgrading this, perhaps to the Sapphire Preferred or the Freedom and then later on upgrading it back to the Reserve to save the annual fee. Currently and for the foreseeable future, the following benefits have little to no value:

Priority Pass Membership (No Value)
Lyft Pink (No Value)
Primary Rental Car Insurance (No Value)
3X on Travel Purchase (No Value)
Travel Insurance (No Value)
1.5X Travel Purchases on Chase Portal (Very Little Value)
Transfer to Travel Partners (Very Little Value)

So, with that being said, why is the card worth $550? Depending on when you think you'll use the benefits again, especially if your renewal date is very shortly after that window where they aren't providing the $100 annual fee credit. Even the $300 travel credit is going to take a bit of work to use in this climate. I think the downgrade now, upgrade later strategy might bear some fruit for people.
I am considering doing this: downgrading to one of the no-annual fee card for now. My AF is supposed to hit today. I still have about 70K points though. On one hand I have Freedom Unlimited so I guess I can part my UR points there for now. On the other hand, I am not sure what I am going to downgrade to, Freedom ? Can one have both Freedom and Freedom Unlimited?

Even if I have to wait a year before I go back to CSR or CSP, I think that would be fine. Where does it says one has to wait 1 year for another product change? (Someone down this thread mentioned it ... )
You can have a Freedom and an Unlimited. I have more than one Freedom and it is sometimes pretty useful. With things how they are, downgrading might make even more sense. Keep in mind if your renewal is today, you probably got the $100 credit for a $450 annual fee, so it could change your calculus. I am not sure how it works if you go to the Freedom and then want to upgrade to the CSP. In the first year you can't upgrade from Freedom to an annual fee card. Not sure the rules after year one.

Keep in mind there is temporarily a 5X UR bonus on grocery stores for the CSR. https://www.doctorofcredit.com/chase-ca ... ry-stores/

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Re: JPM Chase Reserve Card gets more expensive

Post by cowdogman » Fri May 01, 2020 6:54 pm

BeneIRA wrote:
Fri May 01, 2020 1:29 pm
Keep in mind there is temporarily a 5X UR bonus on grocery stores for the CSR. https://www.doctorofcredit.com/chase-ca ... ry-stores/
This runs from now thru June 30. Conservatively this is worth about 12,500 UR points to me (more if I stock up on wine). So I will hang in there with the Reserve card for a while.

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Re: JPM Chase Reserve Card gets more expensive

Post by Marylander1 » Fri May 01, 2020 7:17 pm

HEDGEFUNDIE wrote:
Sun Apr 05, 2020 6:17 pm
EnjoyIt wrote:
Sun Apr 05, 2020 4:10 pm
HEDGEFUNDIE wrote:
Sun Apr 05, 2020 3:47 pm
I will absolutely take that bet.

RCL closed at $24 on Friday. Let’s check back in two years.

The loser donates the winner’s profits to a charity chosen by the winner.
Ok, I like that. I also like that it goes to a charity. $24 today and then on 4/5/2022 charity gets the difference.

I hope you realize that the most I can lose is $24. The most you can lose is substantially more.
The fact that I am still willing to take on such a lop sided bet should give you pause.
Also, you may not have to wait until April 2022 for the outcome of this wager to become known.
Stocks sometimes reach a state of permanently stable value (usually $0); .

Marylander1
Last edited by Marylander1 on Fri May 01, 2020 7:18 pm, edited 1 time in total.

HEDGEFUNDIE
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Re: JPM Chase Reserve Card gets more expensive

Post by HEDGEFUNDIE » Fri May 01, 2020 7:18 pm

Marylander1 wrote:
Fri May 01, 2020 7:17 pm
HEDGEFUNDIE wrote:
Sun Apr 05, 2020 6:17 pm
EnjoyIt wrote:
Sun Apr 05, 2020 4:10 pm
HEDGEFUNDIE wrote:
Sun Apr 05, 2020 3:47 pm
I will absolutely take that bet.

RCL closed at $24 on Friday. Let’s check back in two years.

The loser donates the winner’s profits to a charity chosen by the winner.
Ok, I like that. I also like that it goes to a charity. $24 today and then on 4/5/2022 charity gets the difference.

I hope you realize that the most I can lose is $24. The most you can lose is substantially more.
The fact that I am still willing to take on such a lop sided bet should give you pause.
Also, you may not have to wait until April 2022 for the outcome of this wager to become known.
Stocks sometimes reach a state a permanently stable value (usually $0); .

Marylander1
Ding ding ding!

armeliusc
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Re: JPM Chase Reserve Card gets more expensive

Post by armeliusc » Fri May 01, 2020 7:19 pm

cowdogman wrote:
Fri May 01, 2020 6:54 pm
BeneIRA wrote:
Fri May 01, 2020 1:29 pm
Keep in mind there is temporarily a 5X UR bonus on grocery stores for the CSR. https://www.doctorofcredit.com/chase-ca ... ry-stores/
This runs from now thru June 30. Conservatively this is worth about 12,500 UR points to me (more if I stock up on wine). So I will hang in there with the Reserve card for a while.
Hmm.. the information there is very thin. I couldn't find the original source on the Chase website itself. I wonder if this includes Costco , where we do the bulk of our grocery shopping.

Eno Deb
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Re: JPM Chase Reserve Card gets more expensive

Post by Eno Deb » Fri May 01, 2020 9:53 pm

BeneIRA wrote:
Fri May 01, 2020 1:29 pm
Keep in mind there is temporarily a 5X UR bonus on grocery stores for the CSR. https://www.doctorofcredit.com/chase-ca ... ry-stores/
Groceries happen to be the 5% category on the Chase Freedom too this quarter, so you wouldn't lose anything by downgrading.

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JDCarpenter
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Re: JPM Chase Reserve Card gets more expensive

Post by JDCarpenter » Fri May 01, 2020 10:08 pm

BeneIRA wrote:
Fri May 01, 2020 1:29 pm
...

Keep in mind there is temporarily a 5X UR bonus on grocery stores for the CSR. https://www.doctorofcredit.com/chase-ca ... ry-stores/
Whoa, thanks! Hadn't heard this yet. Even though we plan to be traveling for most of May and June, we'll be home enough to take advantage of this. (and the initial part of our June trip is with friends at a VRBO, so even there....)

Oh--on the main topic, we will be keeping card. In addition to domestic travel, we are planning a two month patagonia/easter_island trip early next year, a week of diving this year, and hopefully, a month or more centering on our first cruise, to Antarctica, etc., next fall. (all with fingers crossed, of course)
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Re: JPM Chase Reserve Card gets more expensive

Post by JDCarpenter » Fri May 01, 2020 10:10 pm

armeliusc wrote:
Fri May 01, 2020 7:19 pm
...

Hmm.. the information there is very thin. I couldn't find the original source on the Chase website itself. I wonder if this includes Costco , where we do the bulk of our grocery shopping.
This site indicates that warehouse clubs are excluded: https://onemileatatime.com/chase-cards- ... groceries/

And, yeah, it'd be nice to see official Chase language on this soon. :?
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Re: JPM Chase Reserve Card gets more expensive

Post by cowdogman » Sat May 02, 2020 9:57 am

Eno Deb wrote:
Fri May 01, 2020 9:53 pm
BeneIRA wrote:
Fri May 01, 2020 1:29 pm
Keep in mind there is temporarily a 5X UR bonus on grocery stores for the CSR. https://www.doctorofcredit.com/chase-ca ... ry-stores/
Groceries happen to be the 5% category on the Chase Freedom too this quarter, so you wouldn't lose anything by downgrading.
I've already used up my $1500 of groceries on the Freedom this quarter. The Reserve gives me a another $3,000 ($1,500 for each of May and June).

Whakamole
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Re: JPM Chase Reserve Card gets more expensive

Post by Whakamole » Sat May 02, 2020 10:41 am

My renewal is not until September, but is there any reason not to switch the card to Freedom Unlimited now?

I have a decent amount of points (150K+), is it even worth keeping these points around or better just to cash them out?

Jags4186
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Re: JPM Chase Reserve Card gets more expensive

Post by Jags4186 » Sat May 02, 2020 10:53 am

Whakamole wrote:
Sat May 02, 2020 10:41 am
My renewal is not until September, but is there any reason not to switch the card to Freedom Unlimited now?

I have a decent amount of points (150K+), is it even worth keeping these points around or better just to cash them out?
150k points will get you $750 of additional value towards “travel” if you redeem through the Chase Ultimate Rewards portal. Let’s say that’s really worth more like $650 since you forgo many benefits by actually booking with cash when you go through he portal. $650 is more than the annual fee on the card so it makes sense to hold onto the CSR for an additional annual fee payment if you think you’ll be able to use those points. If not, just dump them now and downgrade.

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cowdogman
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Re: JPM Chase Reserve Card gets more expensive

Post by cowdogman » Sat May 02, 2020 10:58 am

Whakamole wrote:
Sat May 02, 2020 10:41 am
My renewal is not until September, but is there any reason not to switch the card to Freedom Unlimited now?

I have a decent amount of points (150K+), is it even worth keeping these points around or better just to cash them out?
I would be very careful when you downgrade not to lose the UR points associated with the Reserve.

I don't know what Chase's policy is on refund of annual fee on the Reserve. I suspect it is pro rata--but don't know.

You may may want use the current 5% grocery promotion before you cancel the Reserve--see posts above.

On cashing out, if you're switching to the FU and not coming back to the Reserve or Preferred, probably best to cash out, but if you think you may come back, I'd hold on to the points.

Whakamole
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Re: JPM Chase Reserve Card gets more expensive

Post by Whakamole » Sat May 02, 2020 11:36 am

cowdogman wrote:
Sat May 02, 2020 10:58 am
Whakamole wrote:
Sat May 02, 2020 10:41 am
My renewal is not until September, but is there any reason not to switch the card to Freedom Unlimited now?

I have a decent amount of points (150K+), is it even worth keeping these points around or better just to cash them out?
I would be very careful when you downgrade not to lose the UR points associated with the Reserve.

I don't know what Chase's policy is on refund of annual fee on the Reserve. I suspect it is pro rata--but don't know.

You may may want use the current 5% grocery promotion before you cancel the Reserve--see posts above.

On cashing out, if you're switching to the FU and not coming back to the Reserve or Preferred, probably best to cash out, but if you think you may come back, I'd hold on to the points.
Thanks. I rarely used the travel portal anyway (for whatever reason I found better deals elsewhere once it moved to using Expedia.)

drk
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Re: JPM Chase Reserve Card gets more expensive

Post by drk » Sat May 02, 2020 11:47 am

cowdogman wrote:
Sat May 02, 2020 10:58 am
I would be very careful when you downgrade not to lose the UR points associated with the Reserve.
You don't lose UR points when downgrading.
cowdogman wrote:
Sat May 02, 2020 10:58 am
I don't know what Chase's policy is on refund of annual fee on the Reserve. I suspect it is pro rata--but don't know.
Yes, after 30 or 40 days (I forget which), the fee refund is pro rata.

Whakamole
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Re: JPM Chase Reserve Card gets more expensive

Post by Whakamole » Sat May 02, 2020 12:24 pm

drk wrote:
Sat May 02, 2020 11:47 am
cowdogman wrote:
Sat May 02, 2020 10:58 am
I would be very careful when you downgrade not to lose the UR points associated with the Reserve.
You don't lose UR points when downgrading.
cowdogman wrote:
Sat May 02, 2020 10:58 am
I don't know what Chase's policy is on refund of annual fee on the Reserve. I suspect it is pro rata--but don't know.
Yes, after 30 or 40 days (I forget which), the fee refund is pro rata.
Would the $300 travel credit (which I used late last year) be impacted by cancellation?

Actually, I wonder - could you spend the UR on air travel (taking advantage of the travel bonus) and then request a full refund?

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heartwood
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Re: JPM Chase Reserve Card gets more expensive

Post by heartwood » Sat May 02, 2020 4:20 pm

I paid my annual fee ($450) in February, used my $300 travel credit at the same time against a rental car charge. In March I decided to cancel. I took a credit payout on my points and paid my remaining card balance, then cancelled. They fully refunded, by paper check, my annual fee saying it was within 60 days or was it 90 days of paying the fee. They sent me a check for the $450. And the 2020 travel credit remained. They were very accomodating to me.

It might have been cleaner if I'd used my points, had them credit my account for the annual fee, paid the balance. Other than long wait times to talk with someone, it was a great customer service experience.

armeliusc
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Re: JPM Chase Reserve Card gets more expensive

Post by armeliusc » Tue May 12, 2020 7:30 am

I've been on the fence on whether or not to downgrade / cancel my Reserve card, but I found myself kept staring at the annual fee posted earlier this month with some annoyance, and the $100 adjustment did not make me feel better, with no travel plan in foreseeable future (my workplace currently bans all travels).

So I called this morning to cancel and asked if I at least could do a product change to a card with no annual fee and they offered me Sapphire Classic.

I didn't know such thing exist, but apparently it does. A quick Google search shows me a recent post on ThePointsGuy website. 2X on dining and 1X everywhere else with foreign transaction fee was all I could gather in the phone. At this point I don't really care about the benefits so I went ahead with it. I guess when travel becomes a possibility again I can think about upgrading later.

madbrain
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Re: JPM Chase Reserve Card gets more expensive

Post by madbrain » Tue May 19, 2020 8:23 pm

I have found the Doordash benefit impossible to utilize. Doordash considers all our favorite restaurants to be "out of area". They would deliver from those restaurants if we lived closer. As we live in the hills, there is just about zero restaurant nearby. This is a strong incentive to cancel the CSR when my renewal comes up in August.

Also, I still haven't used any of the $300 travel credit from the previous annual fee. Any idea how to do so without actually traveling ? I'm loathe to buy airline gift cards given that many of them might go bankrupt, and the gift cards could be void. Even without the bankruptcy risk, I found airline gift cards to be impossible to use on most routes we wanted to use to Asia, when the last leg of the trip is operated by a different airline.

MikeG62
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Re: JPM Chase Reserve Card gets more expensive

Post by MikeG62 » Wed May 20, 2020 8:31 am

armeliusc wrote:
Tue May 12, 2020 7:30 am
I've been on the fence on whether or not to downgrade / cancel my Reserve card, but I found myself kept staring at the annual fee posted earlier this month with some annoyance, and the $100 adjustment did not make me feel better, with no travel plan in foreseeable future (my workplace currently bans all travels).

So I called this morning to cancel and asked if I at least could do a product change to a card with no annual fee and they offered me Sapphire Classic.

I didn't know such thing exist, but apparently it does. A quick Google search shows me a recent post on ThePointsGuy website. 2X on dining and 1X everywhere else with foreign transaction fee was all I could gather in the phone. At this point I don't really care about the benefits so I went ahead with it. I guess when travel becomes a possibility again I can think about upgrading later.
What are the implications (if any) on your existing UR points from the product downgrade? Is it only that you lose the 50% multiplier if booking travel through the UR portal?
Real Knowledge Comes Only From Experience

02nz
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Re: JPM Chase Reserve Card gets more expensive

Post by 02nz » Thu May 28, 2020 9:41 am

Big news - through Sep 30 you can redeem Ultimate Rewards points at the travel portal rates (1.5 cent/point for Reserve, 1.25 cent/point for Preferred) for statement credits of purchases at grocery stores, dining (incl. delivery/takeout), and home improvement. From June 1 until the end of the year, the Reserve's $300 travel credit is also good for gas and grocery store purchases.

https://milestomemories.com/huge-chase- ... mber-30th/

The redemption bit is a huge deal as it makes it very easy to redeem a lot of points at the higher value. Grocery stores typically carry Amazon, Best Buy, and many other gift cards so this can cover practically anything.

EnjoyIt
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Re: JPM Chase Reserve Card gets more expensive

Post by EnjoyIt » Thu May 28, 2020 9:56 am

02nz wrote:
Thu May 28, 2020 9:41 am
Big news - through Sep 30 you can redeem Ultimate Rewards points at the travel portal rates (1.5 cent/point for Reserve, 1.25 cent/point for Preferred) for statement credits of purchases at grocery stores, dining (incl. delivery/takeout), and home improvement. From June 1 until the end of the year, the Reserve's $300 travel credit is also good for gas and grocery store purchases.

https://milestomemories.com/huge-chase- ... mber-30th/

The redemption bit is a huge deal as it makes it very easy to redeem a lot of points at the higher value. Grocery stores typically carry Amazon, Best Buy, and many other gift cards so this can cover practically anything.
That's huge. We were about to buy some windows at Home Depot. Now these windows will be free (sort of.) We have hundreds of thousands of points.

Thanks for sharing
A time to EVALUATE your jitters. | https://www.bogleheads.org/forum/viewtopic.php?f=10&t=79939&start=400#p5275418

rjbraun
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Re: JPM Chase Reserve Card gets more expensive

Post by rjbraun » Thu May 28, 2020 10:04 am

02nz wrote:
Thu May 28, 2020 9:41 am
Big news - through Sep 30 you can redeem Ultimate Rewards points at the travel portal rates (1.5 cent/point for Reserve, 1.25 cent/point for Preferred) for statement credits of purchases at grocery stores, dining (incl. delivery/takeout), and home improvement. From June 1 until the end of the year, the Reserve's $300 travel credit is also good for gas and grocery store purchases.

https://milestomemories.com/huge-chase- ... mber-30th/

The redemption bit is a huge deal as it makes it very easy to redeem a lot of points at the higher value. Grocery stores typically carry Amazon, Best Buy, and many other gift cards so this can cover practically anything.
Wow. Thanks for sharing that news!

I have a bunch of UR points and would love to find a way to get maximum benefit apart from the usual travel-related means.

I guess we wait for details, but I guess the idea is that you pay for groceries with your UR points at a value of 1.5 cent/point.

Almost sounds too good to be true that Chase would allow one to buy Amazon gift cards with UR points but would be wonderful to find a way to do that. Also, unfortunately, I'm not aware of any grocers in my area that sell Amazon gift cards.

HEDGEFUNDIE
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Re: JPM Chase Reserve Card gets more expensive

Post by HEDGEFUNDIE » Thu May 28, 2020 10:09 am

rjbraun wrote:
Thu May 28, 2020 10:04 am
02nz wrote:
Thu May 28, 2020 9:41 am
Big news - through Sep 30 you can redeem Ultimate Rewards points at the travel portal rates (1.5 cent/point for Reserve, 1.25 cent/point for Preferred) for statement credits of purchases at grocery stores, dining (incl. delivery/takeout), and home improvement. From June 1 until the end of the year, the Reserve's $300 travel credit is also good for gas and grocery store purchases.

https://milestomemories.com/huge-chase- ... mber-30th/

The redemption bit is a huge deal as it makes it very easy to redeem a lot of points at the higher value. Grocery stores typically carry Amazon, Best Buy, and many other gift cards so this can cover practically anything.
Wow. Thanks for sharing that news!

I have a bunch of UR points and would love to find a way to get maximum benefit apart from the usual travel-related means.

I guess we wait for details, but I guess the idea is that you pay for groceries with your UR points at a value of 1.5 cent/point.

Almost sounds too good to be true that Chase would allow one to buy Amazon gift cards with UR points but would be wonderful to find a way to do that. Also, unfortunately, I'm not aware of any grocers in my area that sell Amazon gift cards.
4.5% back on Amazon is still inferior to Amazon’s own credit card which offers 5% back with prime membership

02nz
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Re: JPM Chase Reserve Card gets more expensive

Post by 02nz » Thu May 28, 2020 10:13 am

HEDGEFUNDIE wrote:
Thu May 28, 2020 10:09 am
rjbraun wrote:
Thu May 28, 2020 10:04 am
02nz wrote:
Thu May 28, 2020 9:41 am
Big news - through Sep 30 you can redeem Ultimate Rewards points at the travel portal rates (1.5 cent/point for Reserve, 1.25 cent/point for Preferred) for statement credits of purchases at grocery stores, dining (incl. delivery/takeout), and home improvement. From June 1 until the end of the year, the Reserve's $300 travel credit is also good for gas and grocery store purchases.

https://milestomemories.com/huge-chase- ... mber-30th/

The redemption bit is a huge deal as it makes it very easy to redeem a lot of points at the higher value. Grocery stores typically carry Amazon, Best Buy, and many other gift cards so this can cover practically anything.
Wow. Thanks for sharing that news!

I have a bunch of UR points and would love to find a way to get maximum benefit apart from the usual travel-related means.

I guess we wait for details, but I guess the idea is that you pay for groceries with your UR points at a value of 1.5 cent/point.

Almost sounds too good to be true that Chase would allow one to buy Amazon gift cards with UR points but would be wonderful to find a way to do that. Also, unfortunately, I'm not aware of any grocers in my area that sell Amazon gift cards.
4.5% back on Amazon is still inferior to Amazon’s own credit card which offers 5% back with prime membership
We were talking about redemptions - 1.5 cent of Amazon credit per UR point is good value. On the earning side, the Sapphire Reserve earns 5x at grocery stores through June 30, so that's 7.5%.

02nz
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Re: JPM Chase Reserve Card gets more expensive

Post by 02nz » Thu May 28, 2020 10:16 am

rjbraun wrote:
Thu May 28, 2020 10:04 am
Almost sounds too good to be true that Chase would allow one to buy Amazon gift cards with UR points but would be wonderful to find a way to do that. Also, unfortunately, I'm not aware of any grocers in my area that sell Amazon gift cards.
All the big supermarkets I've checked carry Amazon gift cards, as does Lowe's (and probably Home Depot - haven't checked recently), which also qualifies for this new redemption option. And now that Whole Foods is owned by Amazon, you can be sure of finding Amazon gift cards there.

I'm not aware of any terms under this offer excluding gift cards, and I've always received applicable bonus points (e.g., 5X quarterly bonus category with Chase Freedom) on purchases of gift cards at grocery stores.

HEDGEFUNDIE
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Re: JPM Chase Reserve Card gets more expensive

Post by HEDGEFUNDIE » Thu May 28, 2020 11:01 am

02nz wrote:
Thu May 28, 2020 10:13 am
HEDGEFUNDIE wrote:
Thu May 28, 2020 10:09 am
rjbraun wrote:
Thu May 28, 2020 10:04 am
02nz wrote:
Thu May 28, 2020 9:41 am
Big news - through Sep 30 you can redeem Ultimate Rewards points at the travel portal rates (1.5 cent/point for Reserve, 1.25 cent/point for Preferred) for statement credits of purchases at grocery stores, dining (incl. delivery/takeout), and home improvement. From June 1 until the end of the year, the Reserve's $300 travel credit is also good for gas and grocery store purchases.

https://milestomemories.com/huge-chase- ... mber-30th/

The redemption bit is a huge deal as it makes it very easy to redeem a lot of points at the higher value. Grocery stores typically carry Amazon, Best Buy, and many other gift cards so this can cover practically anything.
Wow. Thanks for sharing that news!

I have a bunch of UR points and would love to find a way to get maximum benefit apart from the usual travel-related means.

I guess we wait for details, but I guess the idea is that you pay for groceries with your UR points at a value of 1.5 cent/point.

Almost sounds too good to be true that Chase would allow one to buy Amazon gift cards with UR points but would be wonderful to find a way to do that. Also, unfortunately, I'm not aware of any grocers in my area that sell Amazon gift cards.
4.5% back on Amazon is still inferior to Amazon’s own credit card which offers 5% back with prime membership
We were talking about redemptions - 1.5 cent of Amazon credit per UR point is good value. On the earning side, the Sapphire Reserve earns 5x at grocery stores through June 30, so that's 7.5%.
Good point, I missed the 5x at grocery stores part. Sounds like time to load up on GCs.

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simplesimon
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Re: JPM Chase Reserve Card gets more expensive

Post by simplesimon » Thu May 28, 2020 11:16 am

HEDGEFUNDIE wrote:
Thu May 28, 2020 11:01 am
02nz wrote:
Thu May 28, 2020 10:13 am
HEDGEFUNDIE wrote:
Thu May 28, 2020 10:09 am
rjbraun wrote:
Thu May 28, 2020 10:04 am
02nz wrote:
Thu May 28, 2020 9:41 am
Big news - through Sep 30 you can redeem Ultimate Rewards points at the travel portal rates (1.5 cent/point for Reserve, 1.25 cent/point for Preferred) for statement credits of purchases at grocery stores, dining (incl. delivery/takeout), and home improvement. From June 1 until the end of the year, the Reserve's $300 travel credit is also good for gas and grocery store purchases.

https://milestomemories.com/huge-chase- ... mber-30th/

The redemption bit is a huge deal as it makes it very easy to redeem a lot of points at the higher value. Grocery stores typically carry Amazon, Best Buy, and many other gift cards so this can cover practically anything.
Wow. Thanks for sharing that news!

I have a bunch of UR points and would love to find a way to get maximum benefit apart from the usual travel-related means.

I guess we wait for details, but I guess the idea is that you pay for groceries with your UR points at a value of 1.5 cent/point.

Almost sounds too good to be true that Chase would allow one to buy Amazon gift cards with UR points but would be wonderful to find a way to do that. Also, unfortunately, I'm not aware of any grocers in my area that sell Amazon gift cards.
4.5% back on Amazon is still inferior to Amazon’s own credit card which offers 5% back with prime membership
We were talking about redemptions - 1.5 cent of Amazon credit per UR point is good value. On the earning side, the Sapphire Reserve earns 5x at grocery stores through June 30, so that's 7.5%.
Good point, I missed the 5x at grocery stores part. Sounds like time to load up on GCs.
I get 5% on groceries using Chase Freedom and transfer the points to UR. I don't see 5% for Sapphire Reserve...is there a link to this?

02nz
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Re: JPM Chase Reserve Card gets more expensive

Post by 02nz » Thu May 28, 2020 11:23 am

simplesimon wrote:
Thu May 28, 2020 11:16 am
I get 5% on groceries using Chase Freedom and transfer the points to UR. I don't see 5% for Sapphire Reserve...is there a link to this?
4X bonus points (5X total) at grocery stores, up to $1500/mo, through end of June:

https://www.chase.com/personal/credit-c ... e-benefits
Last edited by 02nz on Thu May 28, 2020 11:32 am, edited 1 time in total.

MindTheGAAP
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Re: JPM Chase Reserve Card gets more expensive

Post by MindTheGAAP » Thu May 28, 2020 11:29 am

They have officially kept the renewal fee down at the $450 for remainder of year as of this morning: https://thepointsguy.com/news/sapphire- ... ronavirus/
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute" - William Feather

mervinj7
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Re: JPM Chase Reserve Card gets more expensive

Post by mervinj7 » Thu May 28, 2020 11:37 am

MindTheGAAP wrote:
Thu May 28, 2020 11:29 am
They have officially kept the renewal fee down at the $450 for remainder of year as of this morning: https://thepointsguy.com/news/sapphire- ... ronavirus/
Excellent. I was planning on cancelling the card because of our reduced/non-existent travel plans. However, $300 travel credit can now be used for groceries and gas. I didn't use Door dash before the SIP but now use it once a week. Thus, the $60 credit and DoorPass have been useful.

jayk238
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Re: JPM Chase Reserve Card gets more expensive

Post by jayk238 » Thu May 28, 2020 11:47 am

Im not sure its worth cancelling for us.
We still get use out of the 300 dollar credit. Which makes it 250 in fees for us. With the 60 dollars door dash its effectively 190 which is a 40 dollar premium over last year. I know it ends next year.

However we still get benefit from the 1.5 pts travel benefit which has helped us a lot.

Someone said they found better deals elsewhere. For international travel I have not found that to be the case. This is because chase buys these benefits from airlines directly and outside of special flash sales their bulk purchases result in the lowest price.
We travel internationally and find their portal to be the cheapest bet everytime. Ive traveled using chase 5 times to europe now and have yet to find a better deal elsewhere barring flash sales.

Ron Ronnerson
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Re: JPM Chase Reserve Card gets more expensive

Post by Ron Ronnerson » Thu May 28, 2020 12:04 pm

02nz wrote:
Thu May 28, 2020 10:13 am
HEDGEFUNDIE wrote:
Thu May 28, 2020 10:09 am
rjbraun wrote:
Thu May 28, 2020 10:04 am
02nz wrote:
Thu May 28, 2020 9:41 am
Big news - through Sep 30 you can redeem Ultimate Rewards points at the travel portal rates (1.5 cent/point for Reserve, 1.25 cent/point for Preferred) for statement credits of purchases at grocery stores, dining (incl. delivery/takeout), and home improvement. From June 1 until the end of the year, the Reserve's $300 travel credit is also good for gas and grocery store purchases.

https://milestomemories.com/huge-chase- ... mber-30th/

The redemption bit is a huge deal as it makes it very easy to redeem a lot of points at the higher value. Grocery stores typically carry Amazon, Best Buy, and many other gift cards so this can cover practically anything.
Wow. Thanks for sharing that news!

I have a bunch of UR points and would love to find a way to get maximum benefit apart from the usual travel-related means.

I guess we wait for details, but I guess the idea is that you pay for groceries with your UR points at a value of 1.5 cent/point.

Almost sounds too good to be true that Chase would allow one to buy Amazon gift cards with UR points but would be wonderful to find a way to do that. Also, unfortunately, I'm not aware of any grocers in my area that sell Amazon gift cards.
4.5% back on Amazon is still inferior to Amazon’s own credit card which offers 5% back with prime membership
We were talking about redemptions - 1.5 cent of Amazon credit per UR point is good value. On the earning side, the Sapphire Reserve earns 5x at grocery stores through June 30, so that's 7.5%.
My local grocery store also awards double points for gift card purchases. That means for every $100 spent, they give 200 grocery points which can be redeemed at the gas station connected with the grocery store (these points can also be used for savings at the grocery store itself). 200 points results in 20 cents off per gallon. So, purchasing an Amazon gift card at my local Safeway with a Chase Reserve credit card results in something like 10% off at the moment.

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