Though I’ve not mentioned it here, the top bloggers in the world of points & miles have all let us know about Chase’s new offering that’s meant to compete with the Citi Prestige and Amex Platinum.
The card comes with a $450 annual fee – not waived the first year – which is similar to those cards. But whereas the Platinum comes with an annual $200 airline credit (and you must specify which airline) and the Prestige has an annual $250 airline credit, the Sapphire Reserve comes with a $300 annual credit good on any type of travel. Since these credits are valid for a calendar year, that means that in the first year you have the card you can get $600 in travel credits which totally offsets the annual fee. In future years it knocks the annual fee down to $150, which is quite reasonable for a card like this.
Like the Freedom cards and the Sapphire Preferred, this new Sapphire Reserve card earns Ultimate Rewards (UR) points that can be transferred to a number of airlines and hotels:
- Air France/KLM
- British Airways
- Korean Air
- Singapore Airlines
- Southwest Airlines
- United Airlines
- Virgin Atlantic
I don’t know if people are applying for this card at record rates or not but they’ve actually run out of card stock for it! It was supposed to be issued on a metal card, similar to the Sapphire Preferred but apparently the demand has far exceeded Chase’s expectations so people are receiving temporary plastic cards until the metal cards can be issued.