Chase Sapphire Rewards Bonus Going Away

[hightower]

Well not entirely, but they are reducing the bonus from 100k to 50k, which makes the whole thing a lot less valuable in my opinion...

I have been considering getting one for awhile now.  Decided to go for it and take advantage of the points.  We have a couple of trips we'd like to do this year anyway.  Should be worth it.

http://www.nytimes.com/2017/01/03/your-money/credit-and-debit-cards/jpmorgan-chase-plans-to-cut-sapphire-reserve-cards-bonus-in-half.html

[Zaphod]

Yikes, need to get on this then. Its been on my list but havent done it yet.

[nachos31]

Zaphod wrote:

Yikes, need to get on this then. Its been on my list but havent done it yet.

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Ditto. Just got one each for me and wifey.

[Lithium]

I've been denied due to 5/24 but I may make one last-ditch effort by stopping by my local branch to see again if I've been pre-approved (highly doubtful).

So the bonus gets reduced to the same as the Sapphire Preferred, only this one has a $450 fee.  However, it comes with a $300 travel credit you can use twice before cancelling, which, if taken full advantage of, still makes it a better deal.  If I weren't blackballed by Chase I would still try to churn both cards.

[GXA]

I got one last fall, and will now apply for my wife.  It is a no-brainer for the first year with the 100,000 points.

[Zaphod]

That is a bummer. I think we have 3 chase cards, but I think one is older than 24 months. Honestly I'd trade my reg sapphire for the reserve, it makes sense.

[VagabondMD]

Zaphod wrote:

That is a bummer. I think we have 3 chase cards, but I think one is older than 24 months. Honestly I’d trade my reg sapphire for the reserve, it makes sense.

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That's exactly what I did.

[NaOH]

.

[Craigy]

$1,500 bonus?? Nuts.

Ahh, $450 annual fee, there it is.  Wow.

Reminds me that I need to call and cancel my Southwest card before I get hit with the annual fee.   

[hightower]

Most people are just getting the $1500 in rewards and canceling the account before the second year fee comes through  But, I understand some people don't want to mess with stuff like this or just don't have a use for it.

[Allonblack]

Ahhh don't do this. If you upgrade a preferred to a reserve you don't get the sign-up bonus.

[Lithium]

Scored the CSR at my local branch today via pre-approval!  I was so happy I could jump to the moon  :lol:

[GoodLife]

I can't decide if we want to get this card... can I apply tonight and, once we (hopefully) get approval and get the card in the mail, decide then?  Or will the annual fee still be charged once it comes in the mail?  I'm on the fence about it!

 

Thanks

[DMFA]

100,000 points = $1,500 if redeemed through Chase Ultimate Rewards (p good service fwiw)

$300 travel credit per *calendar* year

$100 TSA pre-check credit

$100 Global Entry credit

The $450 annual fee is on the anniversary of account opening, so it is relatively simple to get two $300 travel credits per annual fee

Not including any points from purchases or TSA stuff = $1500 + $300 + $300 - $450 = $1650 of free money, and a pretty strong credit card to boot

I hold it and don't even plan on churning it.  Even with the exception of the aforementioned bonuses/credits, we average about 2.25% back on it after accounting for annual fee which is still better than most cash-back cards (2%) can offer.

[RDB]

Just signed up and was approved. I also signed up for the ink business card which has an 80k bonus.