Chase Will Continue $100 Discount for Sapphire Reserve Renewals into 2021
thrifty traveler premium chase travel credit

Chase Will Continue $100 Discount for Sapphire Reserve Renewals into 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 Chase has confirmed that current Reserve cardholders will continue renewing at $450 through at least March 2021.

This first cropped up with the start of the New Year. While Chase hadn’t said anything publicly, we and others saw current Chase Sapphire Reserve cards renew at the previous, $450 rate.

chase sapphire reserve annual fee discount 

A Chase spokeswoman confirmed to Thrifty Traveler on Friday that will continue through at least March 2021.

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.


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 discount, your annual fee would effectively drops 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. By all accounts, those retention offers are still flowing today.

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

Got a Reserve Card in your wallet and not sure you can stomach paying a huge annual fee? So long as it’s set to renew before April, it will renew at the older, $450 rate. With travel still clouded by uncertainty, this is a smart move from Chase.


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.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

18 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?

  • My renewal was 2/1 and it was $450. Rep said no offers on the account but said it “showed” my annual fee would be $450, not $550.

  • My renewal was 2/1 and it was $550. I called and spoke to a rep and they said there were currently no retention offers and no $450 renewals. This is my first renewal, I got the card right after the price increase. Could this be why?

    • Yes Shannon, unfortunately that’s why. Since you opened the card at the higher, $550 rate, that’s what you’ll continue paying.

  • I’ve had my card for a few years, but it just renewed this month at $550. The rep told me there are no retention offers and doesn’t know anything about the $100 discount. I asked to speak to the manager and they said the same 🙁

    • Definitely call back and try again, or start a secure chat online. Chase has officially announced that renewals through March 2021 should be $450.

  • I got this card February 2020 (fee charged 3/1/2020 at $550). My card just renewed 3/1/2021 at $550 and I called and they said this credit of $100 for renewal doesn’t apply to me. Is that accurate?

    • Unfortunately, it is accurate. If you opened the card with the $550 annual fee, you’ll continue paying that. Only cardholders who initially opened the card at $450 are eligible for the continued discount.

  • Called today, I’ve had the card for a 3 years. No retention offer on the account but they are offering the $100 credit for a few more months (it seems to be a new memo and may not be officially announced).

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