The travel hacking world went nuts when Chase released its Sapphire Reserve card which, among other useful travel perks, came with a huge sign-up bonus of 100,000. If you’ve thought about jumping on the bandwagon, you may want to jump soon, because the bonus is about to get cut in half.
Chase’s card currently comes with a sign-up bonus of 100,000 for customers who spend at least $4,000 on the card within three months of opening. This bonus is worth about $1,000 in cash and $1,500 when you redeem for travel—pretty incredible. (A word of caution: you should obviously always pay off your credit card in full and on time and only spend it on stuff you were going to buy, anyway. Bonuses aren’t worth it if you spiral into $4,000 worth of credit card debt).
It’s a great deal, and the Reserve still has some cool perks, but on January 12, they’re going to cut that bonus in half. That will be the last day you can sign up for it online and still earn 100,000 points. If you apply for it at a bank branch, the deadline extends to March 12. After those dates, the bonus will be 50,000. Chase first confirmed the news with The Points Guy, who reported:
The Sapphire Reserve was such a hit that Chase quickly ran out of the metal used to create each card…and Reserve was partially responsible for a 35% increase in new Chase card accounts in the third quarter of 2016. Rather than launching the card with a traditional advertising campaign, Chase decided to offer a huge sign-up bonus, enabling the issuer to use its marketing budget to incentive consumers directly which in turn created tremendous buzz through word of mouth. Of course, all of these new customers still came at a significant cost, impacting the bank’s bottom line by some -$200 million.
The updated bonus still isn’t bad, and keep in mind, the Reserve still offers a $300 travel credit (which helps pay for its crazy high $450 annual fee), Global Entry or Pre-Check credit, and free airport lounge access. Head to the link below for more detail on the update.
Last Chance for Chase Sapphire Reserve 100,000-Point Online Bonus | The Points Guy
Photo by Mike Mozart