Chase Is Proactively Crediting CSR Accounts With $100 Statement Credits
UPDATE 6/2/21: It appears many people are still receiving the credit on their cards at the time of renewal.
UPDATE 4/3/21: It was expected that the credits would end March 31st. Dans Deals is reporting that they are still happening in April. This is a welcomed move by Chase, as we discussed on the podcast this week the Sapphire Reserve can’t justify the $550 annual fee.
Earlier this week I wrote an article, why I am slashing credit card fees right and left. I discussed the fact that we are unable to use the perks of these premium cards right now and should downgrade the cards versus paying for something we can’t use. It appears Chase has been noticing that trend and is being proactive with their Chase Sapphire Reserve card. Miles to Memories contributor Felicia received an email this morning from Chase. It said they are proactively crediting her CSR account with a $100 credit because of Covid-19.
Here is the secure message being sent out to some cardholders.
This is a brilliant move on Chase’s part. They recently raised the annual fee for the Chase Sapphire Reserve by $100 and people were already considering closing it because of that. Throw in the fact that people can not travel for months and it was ripe for the downgrade or closure. This gesture will create goodwill and make people reconsider. With the new perks people may be willing to hang on for another year. Especially when you pair it up with the easy to use travel credit.
If your annual fee posted recently I would reach out to Chase and ask for a similar credit. Hopefully they do this for the next several months as people’s annual fees post. Hopefully other lenders will follow suit with their premium cards.