Posted byon August 26, 2016
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Chase rolled out a new Chase Sapphire Reserve card this week with one of the highest sign up bonuses I have ever seen!
The sign up bonus is 100,000 points and the card includes $300 annual travel credits. When you do the math on this one, it’s a very lucrative bonus easily worth over $1,500.
It’s our Free Money Friday offer.
Earning Points. You’ll earn 3 points per dollar on travel and dining and 1 point on all other purchases. There are no quarterly rotating categories.
Redeeming Points. The card offers a 50% bonus on travel redemptions, which means your 100,000 points could be redeemed for $1,500 in travel. Check out the Best Way to Maximize Chase Ultimate Rewards Points for the other redemption options.
Annual Travel Credit. You’ll get a $300 travel credit each calendar year. An application before the end of the year means a $300 credit now and another $300 credit next year before the renewal to earn this benefit twice on one annual fee.
More Benefits. The card also offers a $100 credit for Global Entry or TSA Precheck, lounge access with Priority Pass, and various other travel benefits.
Whenever I see a card with a steep annual fee it’s time to do the math. The 100,000 points can be redeemed for $1,000 in cash equivalents (or $1,500 in travel credits). Add in the travel credits at $300 x 2 and the sign up bonus is worth $1,150-$1,650 after you pay the annual fee. For me I’d use another $85 offset on the TSA precheck since my husband and kids have it and I get stuck in the regular security line by myself!
Total value after annual fee: $1,235 – $1,735
You should calculate your own benefit beyond the bonus points to see how much it’s worth in your situation. However, the huge 100,000 sign up bonus should cover the annual fee no problem on this card!
This card is subject to the 5/24 rule (5 approvals in 24 months), or the Chase rule that they will not approve you for another Chase card if you’ve opened 5 new cards in the last two years with any issuer (not just Chase). This puts the brakes on for me (boo!) since my credit reports are showing 8 or 9/24 depending on the report and my husband’s show 10/24. I’ll be following the compiled data points on Reddit very closely to determine when and if we can pull the trigger on this card.