Chase Sapphire Reserve?

[DMFA]

I have heard tremendous buzz about this card on finance news outlets and the Reddit churn forum, but it seems like *the* card, even for non-churners. Anyone get it or have opinions on it? The $450 fee annual fee seems steep, but it seems like it has lots of mitigating factors.

[Lithium]

I was denied it based on 5/24, but will keep trying.  If you have this problem, the way to circumvent it per Doctor of Credit is to go to your Chase branch and ask if you're "pre-approved."

To make a long story short, the $300 travel credit can be used in 2016 and 2017 before you cancel the card.  That plus the 100,000 UR sign up bonus more than justifies the fee.

[DarrVao777]

DMFA wrote:

I have heard tremendous buzz about this card on finance news outlets and the Reddit churn forum, but it seems like *the* card, even for non-churners. Anyone get it or have opinions on it? The $450 fee annual fee seems steep, but it seems like it has lots of mitigating factors.

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I think it's great if you travel or dine out a lot (triple the rewards points)

The signup bonus is quite high (100000 points) and is worth ~ $1500 for those who know how to use it.

The annual fee is steep but it comes with $300 in travel credits every year (I believe airline tickets count too) so it knocks the fee down to $150

In the end, if you travel or eat out a lot, that's great. For someone like myself with young kids and don't do either, I'll be sticking with my no annual fee cash cards while jealously eye-balling those who can utilize this card

[Zaphod]

100k UR points? Holy. I would be super stoked about this as I have the sapphire and the ink biz plus. Going to look into this.

[PhysicianOnFIRE]

I'll be applying for this card. Actuallly, it will probably be my wife, since I'm pretty sure I've met or exceeded the 5 applications Chase allows in 2 years.

Not only do you get a $300 travel credit, but also a $100 credit towards Global Entry, which I've been meaning to get anyway.

WCI, do you have a Chase affiliate link for us? I'd like to stuff somebody's pocket when I apply for this card.

Best,

-PoF

[Future Proof MD]

I was rejected on the basis of

1. "You already have the maximum amount of credit we can offer you."


2. "Your current amount of credit is enough in relation to your income."

:cry:

Luckily I was able to get my Chase Ink Plus card approved.  

[ACN]

Just recently opened a Sapphire account.  Going to apply for this card shortly and hopefully downgrade the Sapphire to the non annual fee.  100k points, and 3* points are hard to pass up.   

[VagabondMD]

All of this credit card chasing and churning, while may have some financial benefit, creates mind clutter for me, and I have little interest.

[DarrVao777]

Vagabond MD wrote:

All of this credit card chasing and churning, while may have some financial benefit, creates mind clutter for me, and I have little interest.

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"Simplicity is the ultimate sophistication."

 

Played the points game for a while and I'm now down to 2 no annual fee, 2% cash back cards (one for personal use, one for business use).

When the time comes when I can no longer clear the 2% floor (Schedule A deductions for me unfortunately), I plan to stop tracking business expenses and simply pare down to just one card

[Allonblack]

The reward to work benefit for signing up for these things is pretty great. People bend over backwards to come up with excuses not toget these. Sadly I as a medical student I don't "make enough."

To explain why this is so great:

100k points + 300 dollars travel credit = 4 round trip to Europe economy tickets plus 300 dollars plus all of the random things you get. 6300 dollars worth of stuff at my estimation for 450 dollars.

[RJ]

I am a chase private client; I have mortgage with chase, HELOC, business/personal checking and a number of personal and businesscredit cards. 5/24 rule is real, but may be bypassed by asking a private client banker to apply for you at the branch.

Data point: I am over 5/24 with personal chase cards. Last week, I went to see my CPC banker: he did 6 applications for me: CS reserve x2 (me and wife), CS preferred x2 (me and wife), Chase Hyatt x2 (me and wife). Approved for all except CS reserve for wife (they wouldn't budge on that one, "too many chase cards open within 24 months..."). So, that is 100,000 +60,000 +60,000 UR points, $300+$300 for travel expense through CS reserve, $100 for TSA precheck, Lounge access through CS reserve, and 4 free Hyatt nights (which can be over $1000/night in Europe or Asia). All for $450 annual fee for CS reserve. I think its worth the hassle .

[ACN]

As a resident, I barely get to $4500/3mo spending to get the 100k bonus let alone one for both my wife and I....wish I could do that..lol.

[Future Proof MD]

Update: I called Chase customer service and was told the reason I was rejected was because there has to be at a minimum a $10,000 credit limit on the Chase Sapphire Reserve (CSR) card.  So I ended up taking differing amounts from my other Chase credit cards to combine for the $10k needed and was able to get the CSR approved.

@ACN - I usually don't spend enough to cover the spending requirements either.  But recently I have been paying a lot of conference/course registration fees and traveling expenses which get reimbursed by my residency program at a later date.  For example, AIRP alone was $1,800!!!

[thomashackett]

Lithium, thanks for pointing out the potential work around through the branch. I'm going to stop by local branch tomorrow!

Here is a link to the Doctor of Credit post.

Also, the $300 travel credit is per calendar year, and so if you keep the card for 12 months and use the travel credit each year, you come out $150 ahead of the annual fee with just the travel credits.

[DMFA]

Future Proof MD wrote:

Update: I called Chase customer service and was told the reason I was rejected was because there has to be at a minimum a $10,000 credit limit on the Chase Sapphire Reserve (CSR) card.  So I ended up taking differing amounts from my other Chase credit cards to combine for the $10k needed and was able to get the CSR approved.

@acn – I usually don’t spend enough to cover the spending requirements either.  But recently I have been paying a lot of conference/course registration fees and traveling expenses which get reimbursed by my residency program at a later date.  For example, AIRP alone was $1,800!!!

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This is p much a major key with credit cards - all my stuff for CHEST will go on there, and all my family's hotel rooms for Thanksgiving to be paid back in cash.  I'll take those triple points for no cost, thank you...

Mine comes in the mail today - wonder if it's one of the actual fancy ones, and not just a cheap plastic temp card since they actually ran out of the materials to make them since they got so many orders.