Chase is about to give Chase Sapphire Preferred® cardholders a new reason to upgrade.
The bank quietly made its debut on Reddit over the weekend, joining the r/ChaseSapphire subreddit – a popular community of more than 200,000 members. After introducing itself as the “official Chase Social Media team” and fielding a handful of questions from cardholders, one user suggested the bank offer a pathway for current Sapphire Preferred cardholders to upgrade to the recently revamped Chase Sapphire Reserve® … “with a bonus.”
To which Chase responded: “Upgrade offers are coming — stay tuned!”
Chase didn't go into more detail about what those offers might entail or when they'll be available. But it's the first concrete sign that the bank plans to roll out upgrade offers – likely with some bonus Chase Ultimate Rewards points as an incentive.
That would be new – and welcome news to longtime Sapphire Preferred cardholders on the fence about moving up to Chase's priciest premium travel card.
To be clear, Chase has allowed Sapphire cardholders to “product change” between the Preferred and Reserve cards for years. But unlike top competitor American Express – which frequently incentivizes its cardholders to move up by dangling some bonus points – those changes have never come with a bonus. Now, it sounds like Chase may soon be sweetening the deal, rewarding loyal customers who upgrade rather than cancel or apply for a new card outright.
The change of heart comes just months after Chase gave the Sapphire Reserve a significant update over the summer, adding new benefits like enhanced dining and hotel perks and other coupon-style credits while pushing up its annual fee from $550 to annual_fees a year. As part of that refresh, Chase also confirmed it would finally allow travelers to hold both Sapphire cards at the same time … with a big catch: Virtually all current Preferred cardholders were denied a welcome bonus when applying for the new-look Reserve Card – or denied the card altogether.
That left many loyal Chase cardholders frustrated, waiting for clarity about how they could get their hands on a Sapphire Reserve Card with a bonus. That appears to be on the way.
After resisting upgrade offers for nearly a decade, it's the latest sign that Chase's revamped premium travel card isn't performing as well as the bank hoped. Then again, it could just be a reflection of the broader premium travel boom: All the big banks and airlines are desperate for as many wealthy, high-paying customers as they can get their hands on. And that means Chase will do what it has to in order to get more Sapphire Reserve cards in customers' hands.
Other Improvements in the Works
Future upgrade offers wasn’t the only interesting tidbit Chase revealed during its Reddit debut.
In another thread, one user from Oklahoma City asked Chase to add more participating restaurants to its Sapphire Reserve dining benefits, noting that smaller cities currently have few (or no) eligible locations. That's undeniably true: New credits of up to $300 a year ($150 every six months) at Chase “Sapphire Reserve Tables” are only eligible at 300-plus restaurants in 25 or so major U.S. cities. Compared to Amex's network of thousands of Resy-participating restaurants, that's a paltry number.
Chase’s verified account responded: “We’re working on expanding the program. Thanks for your suggestions!”
The bank didn't provide any additional details, but it at least suggests that Chase is already looking to grow the footprint of restaurants eligible for its Sapphire Reserve Dining Credit.
Elsewhere, another user asked whether Chase planned to add more hotels to The Edit by Chase Travel℠, the bank’s curated collection of luxury and boutique properties bookable through Chase Travel – one of the card's best new benefits offering up to $500 per year ($250 semi-annually) credit for The Edit℠ hotel bookings.
Again, Chase confirmed: “Yes! We’re continuously adding new hotels to this program.”
While short on specifics, both responses show Chase is committed to expanding its reach and making it easier for cardholders to use their new perks.
Bottom Line
It's the news that many Sapphire Preferred cardholders have no doubt been waiting for: upgrade offers are coming soon.
Combined with hints about expanding its Reserve dining program and luxury hotel network, it's clear more news is on the way. If you’ve been thinking about moving up from the Sapphire Preferred to the Reserve, you may want to wait and see what Chase has in store. Those upgrade offers could make the jump far more rewarding.
