Chase Sapphire Reserve’s Annual Commission Increases
Have you ever thought that the high bonuses and huge perks offered by the Chase Sapphire Reserve credit card sound too good to be true? It looks like the honeymoon period is coming to an end, with the annual card fee going to rise from $ 450 to $ 550 this year.
Rumors of an increase were confirmed by The Points Guy , who learned that the increase would begin on January 12th. If you already have a card and are planning to renew it before April 1, 2020, you can renew it at the rate of $ 450. ; after April 1st, everyone will pay $ 550 a year.
The news follows Chase and DoorDash announcing a partnership that gives certain cardholders, including backup customers, access to free DashPass memberships.
In addition, TPG announces that Reserve customers will receive a free year in Lyft Pink ; You will also earn 10x Lyft Ride Points when you pay with your backup card.
Customers will continue to receive $ 300 travel credit, airport lounge access and refunded TSA pre-screening application and international entry fees. Currently, a $ 300 travel loan brings the effective annual fee down to $ 150; after the promotion, you will spend $ 250 in exchange for card bonuses.
The upgrade pushes the Reserve Card to the same tier as the American Express Platinum card, which in exchange for a $ 550 commission offers up to $ 200 a year in Uber Cash, $ 200 credit, lounge access, and compensation for preliminary check or Global Login.
If you don’t want to pay that much for a backup card, you might want to consider upgrading to a Chase Sapphire Preferred card. It has fewer benefits, but still gives 2x travel and food points (as opposed to 3x Reserve points). Your points have an additional 25% value when you use them to travel through Chase Ultimate Rewards (as opposed to the 50% additional value with the Reserve card). The Preferred card will set you back $ 95 per year.
We’ve contacted Chase for details and will update this post when we find out more.