As you may or may not have heard, the Chase Sapphire Reserve signup bonus is dropping from 100k to 50k on January 11th. That’s why if you haven’t signed up for the Chase Sapphire Reserve yet now is the time.
Alright. First off, if you’ve opened more than 5 credit cards in the past 2 years, then you probably won’t get approved due to Chase 5/24 so you can stop reading now. Also, this card has a $450 annual fee and a $4,000 minimum spend requirement, which I know seems really high, but hear me out. Here are four reasons why you should apply now:
Sign-Up Bonus – ~$1k
As stated above, the current sign up bonus is 100,000 Ultimate Rewards. It is dropping to 50,000 Ultimate Rewards on 1/12/17. If you redeem 100,000 Ultimate Rewards for straight cash back, it’s worth $1,000. If you redeem it for travel, you’ll get at least $1,500 (possibly more depending if you use the Chase travel portal or transfer to travel partners).
Annual Travel Credit – $300
You’ll also get an annual travel credit of $300, which reimburses you for things like airfare/hotels/uber rides. This effectively makes the annual fee $150/year.
Airport Lounge Access
You’ll also get access to certain airport lounges via their Priority Pass program. We’ve enjoyed some pretty cool lounges using the Priority Pass.
Not Happy. Just Downgrade.
After the first year, if you feel like you haven’t utilized the benefits of the card to justify the $150 (net) annual fee, you can simply downgrade the Chase Sapphire Reserve to a no annual fee, Chase Freedom or Freedom Unlimited. This will keep the card on your credit report and help to continue to build up your credit score.
These are just a few of the many benefits of the Chase Sapphire Reserve, but act now before the signup bonus drops to 50k UR. The Sapphire Reserve doesn’t have referral links and I don’t have an affiliate link, but I encourage you to support another travel blogger that has affiliate links.