Chase Sapphire Reserve forges metal credit card craze

By Elliot Bullman

Within days, Chase ran out of its fancy new card, afavourite of deal-seeking obsessives.

After a summer of rumours and social media hype, Chase’s new premium travel card, Chase Sapphire Reserve has made its debut. Some of the rumblings we heard at Breaking News Business sounded too good to be true, so we decided to put the card to the test.

tarjeta credito chase sapphire

Withinthe thriving online subculture of credit-card churning, obsessed with maximizing reward programs, expectationswere high. The newly released Chase Sapphire Reserve card, more than meets those expectations. Despite its hefty $450 USD annual fee, so many people have signed up amid the online frenzy that the bank ran out of the actual cards within two days.

“Chaseapproved 'tens of thousands of applications' in the first two days", said spokeswoman Lauren Francis;and the majority of cards are going to millennials. The bankdidn't have enough of thespecial cards, made from a proprietary mix of embedded metals, to meet the demand, so for the time being, we are sending out regular plastic versions.

chase saphire reserve 2Original Image, source: Chase's official Facebook page

As the name implies, the new card is an enhanced version of the popular Chase Sapphire Preferred® Card. Everything about this card is a step up. There is a higher sign-up bonus of 100,000 points, more valuable redemption options where cardholders earn 3x points on all travel and dining purchases and it also comes with an annual $300 USD travel credit.

To qualify, cardholders must spend at least $4,000 USD on purchases within the first 3 months of account opening. Surprisingly, the majority of consumers signing up are millennials who usually reject credit cards and are least likely to be a target for a high annual fee, ultra-platinum category credit card. Those cards are normally associated with luxury travellers that travel extensively and this market has been dominated until now by American Express with its Platinum Card.

Is the Chase Sapphire Reserve worth it?

chase saphire reserveStill taken from: Chase's official website

The $300 USD credit for travel expenses paid with the card effectively reduces the high annual feeby two-thirds. Youearn 3 points per dollar on travel and dining, andyou can redeem points for 1.5 cents apiece through Chase Ultimate Rewards®. That meansyou need to spend about $3,333 USD on travel and dining per year to wipe out the rest of that annual fee. That’s a figurethat shouldbe easy for frequent travellers to hit — especially if they eat a lot of restaurant meals while they’re travelling.

Most othercredit cardsthat try to serve two functions end up being average. They fall into the ‘jack of all trades, master of none’ category. The Chase Sapphire Reserve℠ is an exception, in that it excels as both a luxury card and as apremium rewards credit card.

RELATED NEWS

  • Trump backs down and signs executive order to Trump backs down and signs executive order to 'keep families together'
  • Despite uncertainty about the election, Mexico continues to attract investmentsDespite uncertainty about the election, Mexico continues to attract investments
  • On Saturday, repaving works start in Cancun’s hotel zoneOn Saturday, repaving works start in Cancun’s hotel zone
  • Mexican entrepreneurship project receives award in FranceMexican entrepreneurship project receives award in France
  • MexicoMexico's foreign minister and business leaders express outrage over ‘inhumane’ US immigration policy
  • The Dow Jones industrial average turned negative as global trade war fears mountThe Dow Jones industrial average turned negative as global trade war fears mount
  • Canada legalizes recreational cannabis useCanada legalizes recreational cannabis use
  • EU to retaliate against US with counter-tariffs on FridayEU to retaliate against US with counter-tariffs on Friday
  • Mexican national team football shirt is best  seller in the United StatesMexican national team football shirt is best seller in the United States
  • Scorpion catching is a dangerous trade that allows Durango’s locals to survive.Scorpion catching is a dangerous trade that allows Durango’s locals to survive.
  • Rafael Márquez , is only the third player in history to achieve the feat of playing in 5 world cupsRafael Márquez , is only the third player in history to achieve the feat of playing in 5 world cups
  • It’s not just in football that Mexico is superior to GermanyIt’s not just in football that Mexico is superior to Germany
WATCH LIVE TV



Most Read Articles
Most Watched Videos
  • Generations Riviera Maya
  • Mayair

Language

Mexico News Network
All rights Reserved 2018