Chase Sapphire Reserve Refresh
Perhaps you’ve heard by now of the upcoming Chase Sapphire Reserve refresh. Indeed, Chase has once again astutely grabbed the attention of points and travel hobbyists with card news. They’ve shrewdly outsourced much of their marketing via the Chase 5/24 rule before. While I haven’t played into the bank’s hands there, I’m happy to share why I’m excited for this card update.
But I won’t be talking about the supposed changes today. That’s because I generally prefer to focus on known facts rather than the futile time-suck of rumors, hypotheticals, and conspiracy theories. Once the official details are announced, I’ll provide my initial take soon after. But just the Chase Sapphire Reserve refresh confirmation brings excitement. Here’s where I’m intrigued and one big area I’m not.
Chase Is No Longer Boring
A bit over four years ago, I shared how Chase was boring me to death. While I’ve busy enough with the bank, primarily with the Chase Ink Business Cash and Freedom 5x categories, I haven’t found it particularly inspiring. As an existing Reserve cardholder, I focus on Pay Yourself Back redemptions – solid redemptions in our situation, but not exactly exhilarating.
By simply announcing an upcoming refresh, Chase has moved closer to the front row of my brain. Whatever the refresh is, I’ll have fun flipping it around, looking at it from different angles to maximize. I’ll reconcile the card’s features with our own goals and priorities, finding value with some benefits and probably not others. I find this process, in and of itself, entertaining. Perhaps you can relate.
I’m more interested in Chase now than before. Perhaps that’s a low bar, but the bank’s trending up with me, nonetheless.
Amex’s Response
When Chase recently confirmed this news, the next thing that popped into my head was how Amex will respond. And today, Amex appears to be squirming. The bank announced that “major updates” are coming to the Platinum and Business Platinum cards later this year. We can’t ignore this timing of this announcement. According to DDG’s article, the company also says that it “is making its largest investment ever in a Card refresh.” In my view, this makes the announcement reek of desperation even more.
Just the hopes of Chase improving the Reserve with this confirmed upcoming refresh seems to have forced Amex’s hand. Amex is apparently feeling it already, and we don’t even know if the Reserve changes are actually a net positive. Of course, this promotes competition, which can benefit consumers.
While I’m looking forward to the Reserve’s updates, I’m even more intrigued with how Amex will respond. My wife and I have been on the outs with Amex Platinum cards for several months, but a worthwhile evolution of those products may bring us back.
Will Citi Do Something?
I’d like to think that this Chase Sapphire Reserve refresh will encourage Citi to be more active in the premium card segment. The Prestige has been gathering dust for years, with little hopes of revival in some form. Amex clearly cares about staying in the same conversation with Chase here, Citi not necessarily. Out of the big three card issuers, Citi is the oddball. While I’d like to see the bank play more with the other two big boys, I don’t have high hopes. Chase’s move makes me want to believe Citi will act, though.
More likely, Citi will do something completely off the wall, leaving me and many of you scratching our heads.
Why I’m Not Particularly Excited
Another area this new card update will refresh is Hyatt obsession. Perhaps the best (or only) Chase Ultimate Rewards travel transfer partner worth maximizing for savvy cardholders, I imagine we’ll all be drowned with even more Hyatt-related content. I’ll stay at a random Hyatt here and there with Guest of Honor benefits (thanks to one particularly generous friend), but I had my Hyatt fun as a top-tier elite in the previous Gold Passport program. I know World of Hyatt still delivers fo many, but I don’t exactly have patience for how people bend over backwards to rationalize their idolatry of the chain and its program.
But actually, maybe I’m fine with this. If the Reserve refresh encourages people to recommit to Hyatt more deeply, perhaps I can continue benefitting from this distraction while redeeming via alternatively-solid, probably-less-sexy methods which work best for our situation.
Chase Sapphire Reserve Refresh – Conclusion
Like many of you, I’m sitting and waiting for what the Chase Sapphire Reserve refresh details actually are. But in the meantime, I’m thankful this upcoming refresh already seems to be pushing our points and travel hobby forward. Years ago, Chase jolted it with the Reserve launch. Will they be able to do it again by simply refreshing that same product? We shall see.
Sometimes, change alone is exciting enough.
While Hyatt transfers is good value (a lot better than pay yourself back) I get even more value transferring to international airline partners and using that for long haul business class. I’ve gotten to to 9-10 cent a point in value and never less than 5 cents a point that way.
” Hyatt obsession . . . “but I don’t exactly have patience for how people bend over backwards to rationalize their idolatry of the chain and its program”
No patience? What don’t you get? Hyatt points are worth 2-4 times those of other hotel programs. I consistently get 2-3 cents per Hyatt point and transferring them from Chase where I get 1.5 to 5 points per dollar gives me the best bang for the buck. End of story.
I don’t “idolize” the chain. I am just as happy at a Marriott or Hilton. But getting more for my spend simply makes good
economic sense.
Ray,
Based on your description, it sounds like you’re not in the group I’m describing. Regardless, in my view, there’s more to consider than mere cents per point – something I don’t generally rely on, anyway.