Chase Continues $100 Discount for Sapphire Reserve Renewals in 2021
chase sapphire annual fee discount

Chase Continues $100 Discount for Sapphire Reserve Renewals in 2021

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A year ago, Chase raised the annual fee on the Chase Sapphire Reserve card from $450 a year to $550. But then the pandemic struck and brought travel to a screeching halt, forcing Chase to offer $100 discounts for existing cardholders up for renewal.

Back then, Chase said only cardholders renewing from April until July would renew at the old $450 rate only to extend that through the end of 2020. But now it appears that Chase has extended that window again as most travel remains on pause, as Doctor of Credit first reported.

We can confirm that some Chase Sapphire Reserve cardholders are still paying just $450 a year when renewing their cards in the New Year. There are other datapoints on Reddit, as well.
 

chase sapphire reserve annual fee discount 

It’s unclear exactly what the new cutoff date is for when the higher, $550 annual renewal fee may kick in – and new applicants for the Chase Sapphire Reserve will pay $550 upfront. A spokeswoman for Chase did not immediately return a request for comment.

But with most travel still on hold, many of the travel perks that make the Reserve card so valuable aren’t worth the high price tag. You get an easy-to-use $300 travel credit, access to 1,000-plus Priority Pass airport lounges worldwide, a $100 credit towards Global Entry or TSA PreCheck, and some of the best travel insurance on the market.

The Sapphire Reserve also earns 3x points on all travel and dining purchases. And you can redeem those points for 1.5 cents each toward travel through the Chase Ultimate Rewards travel portal – or get even more out of them by transferring to airline and hotel partners.
 

CSR
 

Click Here to get more information about the Chase Sapphire Reserve.

 

What’s Chase Up To?

Giving Reserve cardholders a reprieve from the steeper $550 annual fee is a smart move.

With this $100 discountt, your annual fee would effectively drop back down to $450 for another year. Factor in that $300 travel credit, and you can easily view it as just a $150 annual fee.

It’s part of a concerted move by Chase (and other banks, including American Express) to convince customers to keep their cards open during the pandemic. Late last year, we reported that Chase was doling out retention offers of $150 to as much as $250 to Reserve cardholders who called in to cancel their cards.

And Chase has added new benefits to its popular travel cards during the pandemic, too. It launched the awesome new Pay Yourself Back feature, which allows you to use Chase points toward everyday expenses like groceries, home improvement stores, restaurants, and even at Target.

 

 

Chase also added a 3x multiplier when buying groceries on your Reserve card through April 2021. And they loosened the strings on that annual $300 travel credit, allowing it to be used for gasoline and grocery purchases.

 

Bottom Line

It’s still unclear how long Chase has extended the window for existing Chase Sapphire Reserve cardholders to renew at $450 a year. Stay tuned for updates.

But with travel still clouded by uncertainty, it’s a smart move.
 

CSR
 

Click Here to get more information about the Chase Sapphire Reserve.
 

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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5 Responses

  • I asked them about this when I got my retention offer a few weeks back, and the rep told me that previously opened accounts would stay at the $450 mark indefinitely (I got my CSR 4 years ago). I hadn’t seen this reported elsewhere, so not sure if she was incorrect or if this has changed recently.

  • Interesting, so no calling in to get this “offer”? I got mine 4 years ago, and last year my renewal was before the price increase was announced from $450 to $500, so it was $450. Will it just stay $450 or do we need to do anything? Is there a source on this at all?

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