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When Chase introduced its Sapphire Reserve card, it created a lot of buzz. The card had a 100,000 Ultimate Rewards points sign-up bonus and a simple earning structure. While that earning structure still exists, we have seen the sign-up bonus hover at the 50,000 mark for some time now.
In contrast, American Express has been on a constant spree of making changes and refreshing many of its products. They’ve refreshed the Gold and Platinum cards over the years. Most recently, Amex made changes and relaunched the Amex Green Card. If you’re looking to get this card, please ensure that you use the incognito mode in order to get the highest available public bonus of 45,000 Membership rewards points.
Chase Sapphire Reserve Rumor
Doctor of Credit reports that Chase is currently in the process of making changes to the Sapphire Reserve card. While this post by Doctor of Credit clarifies that this is still a rumor, it states that it comes from a credible source.
A couple of rumored changes have been reported.
- Chase will increase the annual fee on the Chase Sapphire Reserve to $550. This would put the price tag on par with the Amex Platinum card.
- Chase plans to add a dining credit to this card. I’m guessing that it might be split into monthly increments just like on the Amex Gold card. I’m hoping however that this is a simple dining credit instead of one with a partner like Uber Eats, Grubhub, PostMates or Doordash. I wrote recently about how I don’t like to jump through hoops to use credits in order to recover the annual fee on premium credit cards.
The Pundit’s Mantra
While it’s interesting to know that some changes may be in the works, I’m a bit unhappy at the path that Chase may be taking. If they were to implement this change, this would pretty much be similar to what Amex did with the Gold card, by adopting a breakage strategy.
As the credit card market matures, the race for premium cards keeps heating up. It will be interesting to see how Chase goes about making changes to one of its most popular credit cards. If they do end up increasing the annual fee, I hope Chase also offers an elevated sign-up bonus.
If you’re looking to sign-up for a lucrative sign-up bonus, you can currently sign-up for the Chase Ink Preferred card. It has a sign-up bonus of 80,000 Ultimate Rewards points, which is currently the highest sign-up bonus amongst Chase’s Ultimate Rewards points earning cards. Please note that this card is subject to Chase’s 5/24 rule.
What do you think about these rumored changed to the Chase Sapphire Reserve? Would they sway your decision as a current cardholder and make you cancel? Let us know in the comments section.