The Chase Sapphire ReserveĀ® has unveiled a refreshed welcome offer, to pair with the card’s recently announced changes to features and benefits.
The lucrative new offer can help offset the card’s massive new $795 annual fee, which was among those sweeping changes.
Here’s what you can expect if you apply.
The new welcome offer
New cardholders will be eligible for the following welcome offer: Earn 100,000 bonus points plus a $500 promotional credit for booking through Chase’s travel portal after you spend $5,000 on purchases in the first 3 months from account opening.
That’s a significant hike from the cardās previous offer of 60,000 bonus points after spending $5,000 on purchases in the first 3 months from account opening.
What to keep in mind
The latest welcome offer can certainly defray the card’s initial cost and help pay for your next vacation, but keep in mind that point values for certain redemptions with the Chase Sapphire ReserveĀ® are changing. Under the card’s new “Points Boost” program, new cardholders will be able to redeem points at a value of 2 cents each on select flights and hotel stays booked through Chase. But on bookings that aren’t eligible for Points Boost, the redemption value will be just 1 cent per point through Chase.
It’s also worth noting that not everyone may qualify for the new welcome offer. Factors like how many Chase bonuses youāve previously received and the number of cards open and closed will also be considered, according to Chase. If youāve previously received a welcome bonus through Chase, youāll be notified during the application process whether youāre eligible for this latest offer.
Also of note: While Chase used to feature a “one Sapphire rule,” that policy is changing. If you already have the Reserve’s less expensive sibling ā the Chase Sapphire PreferredĀ® Card ā it won’t necessarily prevent you from being eligible to receive the Chase Sapphire ReserveĀ® bonus, assuming youāre approved for the card and can meet the requirements to earn it.
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The newly announced Chase Sapphire Reserve for Business has also unveiled a rich welcome offer, although it requires a significantly higher spending requirement than the consumer version of the card. The business card is offering the following: Earn 200,000 points after spending $30,000 on purchases in the first six months of account opening. It, too, has an annual fee of $795.
The potential for long-term value
The Chase Sapphire ReserveĀ® offers ongoing perks and rewards mostly in the categories of dining and travel, so it can remain valuable long after you’ve earned the welcome offer.
The card earns rewards in the following categories:
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8 points per dollar on all travel booked through Chase.
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4 points per dollar on flights or hotels booked directly.
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3 points per dollar on other dining (10 points per dollar on Chase Dining purchases).
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1 point per dollar on all other purchases.
The card’s lengthy list of perks and credits can also add up to several hundreds of dollars in additional value, but only if you can make the most of them. The card has adopted the ācoupon bookā model, which isnāt one-size-fits-most. Some benefits may not be a match for your lifestyle, budget or location.
Before getting this card, consider whether you can use the card’s rewards and benefits fully to make up the cost of the $795 annual fee.
