Just a few weeks back, I wrote extensively about Chase’s latest card refresh. Chase refreshed their Freedom Card portfolio and introduced a brand new Chase Freedom Flex card. Back then, I’d written about how this drastically changes their overall credit card portfolio and how we could soon see Chase tweak their Sapphire cards as well. Now, it seems like Chase could soon announce changes to the Chase Sapphire Reserve as well.
Rumored changes to Chase Sapphire Reserve
A reddit user called Chase customer service about his Chase Sapphire Reserve and was told that there’s an announcement coming up on October 5th.
So I have a fun situation – I’ve wracked up more points than I can spend via the pay yourself back feature, which if you don’t want to use the points for travel, is a fantastic alternative. Well, I called in to see if maybe there’s some quiet work around – perhaps letting me slide some points through as a credit at the same 1.5x rate. While the answer was no, they did tell me that an announcement is coming on 10/5 (4 days from now) for the CSR. Also, it’s great the pay yourself back was extended through April 30, 2021.
Going by this data point, we could well see Chase make an announcement some time next week. While there may be more benefits on the horizon, I hope Chase starts by upping the earning rates in the travel and dining categories to compete with the likes of Citi Prestige. For starters, a 5x in the dining and travel category would be great to compete with other premium travel cards in the market.
Similarly, we could well see Chase extend other temporary benefits like grocery/gas bonuses or Instacart credit.
The Pundit’s Mantra
While travel may not be back to normal yet, it’s exciting to see credit card issuers up their game. Over the last few weeks, we’ve seen many issuers revamp their offering and also offered new products and welcome bonuses. Similarly, we’ve seen issuers like Chase relax their rules for getting small business credit card. Overall, we’re hoping that this is the beginning of more such good news in the miles and points world.
If these changes come to fruition, will they convince you to upgrade to or apply for the Chase Sapphire Reserve? Tell us in the comments section.
Update: As per The Points Guy on 10/5/2020, Chase says that it doesn’t plan to roll out any updates to their Sapphire cards imminently.
The Points Pundit loves these newly relaunched Chase credit cards!
Firstly, they offer you a 0% APR for the first 15 months.
Secondly, they have no annual fee and have a lucrative welcome bonus of $200 or 20,000 Ultimate Rewards points after you spend $500 in the first 3 months.
They’re packed with brand new benefits and bonus points categories.
Overall, a great option to carry in your wallet for everyday spend!
(Chase’s 5/24 rule may apply to these cards)
Disclosure: The Points Pundit receives NO compensation from credit card affiliate partnerships. Support the blog by applying for a card through my personal referral links. This article is meant for information purposes only and doesn’t constitute personal finance, health or investment advice. Please consult a licensed professional for advice pertaining to your situation.