Did Chase Just RUIN the Sapphire Reserve?

Did Chase Just RUIN the Sapphire Reserve?

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In this video we look at whether Chase just ruined one of their best cards, the Chase Sapphire Reserve, with recent changes.

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The Chase Sapphire Reserve when the card Launched back in 2016 Chase described it As Reinventing the luxury credit card Category the card launched with a 100,000 Point welcome bonus worth at Least $1,500 since the points are worth 1.5 Cents a piece through the travel portal I use that bonus to say at the W Hotel In Taipei Taiwan for several nights the $450 annual fee was offset by a $300 Travel credit that could be used for any Travel making the card effectively only Cost $150 per year the card was so Popular that they acquired more Customers in 2 weeks than they expected In 12 months and they ran out of metal Cards they had to issue temporary Plastic ones and it was because of the Sapphire Reserve that many other credit Cards from different issuers are now Made of metal the New York Times called It the world's first viral credit card The popularity of the card was largely Due to the incredible value people were Getting out of the bonus but that Couldn't last forever the 100,000 Point Bonus went down to the 50 to 60,000 Range Chase started adjusting benefits Here and there to make the card cheaper For the bank and eventually the annual Fee went from 450 up to 550 but the card Still Remains competitive thanks mainly To the fact that the points are worth

1.5 cents per point when you book travel With them through the travel portal the Card also has a few other sweet spots Like the collision damage waiver for Rental cars is primary which means you Don't have to first claim on your own Insurance and also the fact that the Priority part pass airport lounge Membership that comes with the card is Valid for priority pass restaurants but That is what is changing and that's what This video is all about Chase has now Announced that the priority pass Membership you get from the sapphire Reserve will no longer offer restaurant Access now if you are not familiar with That priority pass lets you access over 1,400 airport lounges around the world So you can wait for your flight in Relative Comfort enjoying complimentary Food and drink another type of non Lounge experience that priority pass Offers is restaurants in airport Terminals where you get a credit it's Around $30 I think it's normally $28 off Your bill and you could get that just For one person or sometimes depending on The restaurant it might be for you and a Guest in which case you're saving around $60 on the meal the exact amounts depend On the policy of the restaurant I've Used this benefit in the past and it is Very useful especially if the lounge at That airport terminal is full so it's

Not accepting priority car members and There's a restaurant you can go to Instead but recently Chase added this Language to the bottom of cars Statements as of July 1st 2024 you will No longer have access to restaurants Cafes and markets participating in the Priority pass select Network as part of The priority pass select benefit Associated with your card access to Priority pass selects network of lounges And other select airport experiences is Not impacted by this update so the Change kicks in on July 1st this year And applies to restaurants cafes and Markets but not lounges or other airport Experiences so things like Spas are Unaffected which is better than cap One's Venture X card for example which Recently eliminated anything that isn't A lounge for th priority pass membership So how can you still get restaurants Covered by priority passs well you could Just buy it all right it's $469 for an unlimited membership of Priority pass so you know you could buy It but it really doesn't make sense I'm Afraid I think anyway I don't think Anyone in the US really does that cuz we Can get it for free from credit cards Then there are still some credit cards That offer restaurant access as part of Their priority pass membership and CNN Has compiled a list so those are all the

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Cards on screen now and you know the Bank of America one is a premium card But you have to be in obviously the Bank Of America rewards system and their Points don't have Transfer Partners so It isn't as strong a system uh for People doing the points and Miles game And you know typically I only really Want to have one high-end credit card Per person because the annual fees are Very high so you know if you're not in a Good points and Miles system you have to Question whether the card is really Worth it just for the priority pass Benefit Capital 1's Venture X business Card uh also has it but it's harder to Get than the Capital One Venture X since It's a business card designed for higher Spenders also has to be paid off every Month okay it's a charge card uh and you Do have to have a business but if you Have a business I mean that could be Right for you then we have three cards But they only offer a limited number of Visits per year still could be worth Getting the altitude con NE for that Purpose I mean the annual fee is W for The first year and it's actually going Away later this year anyway in September So if you get the card now you won't Actually ever have an annual fee on this Card and you get four priority pass Passes per year and you could probably Use those for restaurants although the

Fact that the annual fee is going away Shows some risk that they might actually Just get rid of priority pass on this Card haven't said anything about that Yet but it is a possibility then we have The UBS Visa infinite card that does Look like a great card for high Spenders And although there aren't Transfer Partners it is possible to get more than 1 cent in value for the points you can Exchange $50,000 points for a $900 plane Ticket for example that's 1.8 cents per Point also if you spend over $25,000 a Year on the card you get $500 in extra Credit that totally wipes out the annual Fee but there's no welcome bonus and no Transfer Partners so for those that want Those really valuable points redemptions You won't get them here then the city Prestige if you are lucky enough to have It still gets restaurant access but it's Not available to new customers so does This little change ruin the sapphire Reserve well certainly makes it less Competitive with other cards but this is The trend in the whole credit card Industry right now so it isn't a deal Breaker honestly for this card the Reason I no longer have the sapphire Reserve is because I found myself pretty Much exclusively booking business class Travel with my points so I was always Transferring them to Airlines and thus I Wasn't making use of the card for the

1.5 cents per point in value if you book Through the travel portal but if you Travel economy it's normally way better Value to book through the travel portal If you can get 1.5 cents per Point Versus transferring to a partner where For economy tickets you're normally Going to be down in the sort of 1.2 Cents per Point range it's also great Value for hotels although do remember When you book through Chase's travel Portal you usually don't get benefits From hotel status all right if you have Hotel like gold status Platinum Status Or whatever it does depend on the brand I know with marot you definitely don't Since they've told me at checkin uh that That my status doesn't count cuz I Booked through a travel portal although With IHG we have had success booking Through the chase travel portal and then Adding an IHG loyalty number when we Checked in and getting an upgrade to a Room with lounge access for having Platinum Elite status so the card still Definitely does have a sweet spot in Addition to the points value the primary CDW is also a highlight for me collision Damage waiver and the fact that they Still have the $300 travel credit Although the annual fee Rose by $100 a Few years ago so it's not as great as it Was when the card first came out you can Also still earn three points per dollar

On travel and dining dining is kind of Weird because they've now added that Category on The Chase Freedom which is No annual fee and on the sapphire prefer They both earn 3x on dining so it's kind Of doubled up if you have the chase Trifecta you're earning 3x on dining and A couple of different cards but for Travel 3x on travel Chase defines travel Really broadly okay it includes Everything like air tickets taxes Ubers Subway passes everything um so that's a Great category to earn 3x on you can Actually also now earn five points per Dollar on flights and 10 points per Dollar on hotels booked through their Travel portal thus I would say that this Card is not ruined completely but it Certainly isn't the legendary credit Card it once was when it launched back In 2016 I would recommend it to people Who fly economy and want maximum value Out of the points on those kinds of Tickets the restaurant thing I guess We're going to have to just suck it up Since like you saw from CNN's list There's no really competitive card that Still offers restaurant access like There are a load of Niche cards that Might benefit different people like a Business card the UBS one for high Spenders and then ones with a few you Know annual passes but nothing that's Going to have you know a broad benefits

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For the majority and something that the Majority of people would be willing to Get as their one and only high-end Travel card all right guys that is the Video for today don't forget you have Until July 1st to enjoy priority pass Restaurants with your Sapphire Reserve Priority pass before that benefit gets Switched off if you're interested in the Chase Sapphire Reserve all the preferred Or the Capital One Venture X or any of The cards we often talk about in our Videos do check out my credit card top Pick page Below in the description as Always these are affiliate links they do Help us out if you use them and it's a Great way of supporting the channel at No extra cost to yourself if you want to See The Advertiser disclosure it is Right at the bottom of the description Section below please subscribe to our Channel if you're new we'll see you next Time bye-bye

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2 Comments

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