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Back in June, Chase refreshed the Chase Sapphire Reserve card, adding a slew of new benefits. However, Chase also increased the annual fee on the Chase Sapphire Reserve to $795. In this post, I explained why I planning to stick to the Chase Sapphire Preferred and had no plans of upgrade to the Chase Sapphire Reserve.
Chase Sapphire Reserve Upgrade Offers
As per Doctor of Credit, an official Chase source on Reddit has confirmed that very soon, Chase will be offering bonuses to upgrade to the Chase Sapphire Reserve card. The Chase source responded to a question which was specific about whether Chase would give existing Chase Sapphire Preferred users the opportunity to upgrade to the Chase Sapphire Reserve, with some bonus points tied to the offer to sweeten the deal.
At the moment, while the confirmation is great, we don’t know any details about how big these welcome bonuses will be or how soon Chase will launch these offers. I’ve been a long time Chase Sapphire Preferred cardholder. So, for me, the bonus will have to be really lucrative to entice me to pay 8x the annual fee that I’m paying right now. I’m happy with my Chase Sapphire Preferred card. It carries an annual fee of just $95 and works perfectly for my style of travel. Also, by paying just $95 each year, I can keep all of Chase’s points transfer partners active and transfer points whenever I need to.
The Pundit’s Mantra
This year has been a busy year in the premium credit card space. Amex, Chase, Citi have all launched or refreshed their premium credit cards, with Capital One getting active in the space as well. Given that card issuers have also increased annual fees on their premium products significantly, issuers need to grapple with the challenge of stealing market share once the initial buzz about the welcome bonus offers and product launches dies down.
If offered bonus points to upgrade to the Chase Sapphire Reserve, will you go for that offer right away? Tell us in the comments section.
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New Credit Card Offers
American Express Business Credit Cards
- Earn 200,000 Membership Rewards points with the Business Platinum Card
- Earn 150,000 Membership Rewards and enjoy a 0% intro APR on the Business Gold Card
Chase Sapphire Cards
- Earn 125,000 bonus points with the Chase Sapphire Reserve Card
- Earn 200,000 bonus points with the Chase Sapphire Reserve Card for Business
Co-branded Delta SkyMiles cards
- No annual fee for the first year, earn 80,000 bonus miles with the Delta SkyMiles Gold American Express Card
- Earn 90,000 bonus miles with the Delta SkyMiles Platinum American Express Card
- Earn 125,000 bonus miles with the Delta SkyMiles Reserve American Express Card
- No fee for the first year, earn 90,000 bonus miles with the Delta SkyMiles Gold Business American Express Card
- Earn 100,000 bonus miles with the Delta SkyMiles Platinum Business American Express Card
- Earn 110,000 bonus miles with the Delta SkyMiles Reserve Business American Express Card
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