Chase Sapphire Reserve Changes Confirmed & NONE Are Guaranteed Long Term
The Chase Sapphire Reserve changes have been confirmed by Chase. There is one good thing to take away from this confirmation but it is mostly bad. The worst thing is that none of these new “perks” are confirmed long term. That doesn’t mean that they couldn’t ended up extending them or adding new ones but it seems a little makeshift to add $100 to the annual fee without having anything set in stone long term.
Confirmed Chase Sapphire Reserve Changes
- The $100 annual fee increase is confirmed and goes into effect January 12, 2020.
- One free year of Lyft Pink. Yup just one so far, not an ongoing perk…
- Earn 10X per points on Lyft rides.
- The DoorDash credits will be in a lump sum which is so much better than smaller monthly credits. But the credits are currently only guaranteed for 2020 and 2021.
That is it folks. For $100 you get $60 in food credits and one year of Lyft Pink…
Sounds like a great deal, no?
What Is Good About These Chase Sapphire Reserve Changes?
So where is the silver lining? The fact that current cardholders get the perks before paying the higher annual fee is good. It gives you a chance to try the perks before paying the higher fee. I think most people will stuff their face with $60 in “free” food and then downgrade their card when it comes time to pay.
I discussed earlier today if it makes sense to grab the Chase Sapphire Reserve now to lock in the lower annual fee and get the added perks at the lower fee. Be sure to punch in your own figures in the calculations to decide if it is.
I am sorry but these “credits / perks” make Amex’s Uber and Saks credit look like the Mona Lisa compared to Chase. When did Chase start bowing down to American Express and picking up the table scraps and grabbing the second class partners. They are simply copying American Express’ terrible playbook and simply doing it worse.
Chase , if you wanted to increase the fee then why not match the American Express Gold card’s 4X earning on restaurants or add in a 2X grocery earning option? You could have done that, got more revenue from the annual fee and wouldn’t have a mass cardmember exodus. But no Chase, you want breakage in these perks or to lull us to sleep when you drop the perks all together in a year or two.
The Chase Sapphire Reserve went from mainstream popularity to the toilet water stream overnight. Way to go Chase, you firmly planted your flag in the worst move of 2020 discussion and it is only the 8th day of this new year.