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In the midst of the uncertainty caused by the novel coronavirus, Chase appears to want to keep its customers loyal by lowering the annual fee on one of its most popular cards.
In April, Chase announced that Chase Sapphire Reserve cardholders with an annual fee renewing through July 1 would receive a $100 statement credit towards their annual fee.
Today, Chase updated that policy, announcing that any Sapphire Reserve renewal between July 1 through the end of 2020 will process at $450. Those with renewal dates between April 1 and July 1 will still see a $100 statement credit, which hasn't changed. Note that this doesn't apply to new sign-ups – only renewals.
This news comes amid Chase launching a slew of new features and perks, like cardholders earning statement credits for all grocery store, dining and home improvement store purchases and extending the $300 travel credit on the CSR to also cover gas and grocery stores.
We previously reported that the Chase Sapphire Reserve added a slew of new perks, including a complimentary year of Lyft Pink, 10x points on all Lyft rides and up to $120 in DoorDash credits. Chase also upped the annual fee from $450 to $550, making it one of the highest personal card annual fees — though this announcement effectively delays this annual fee hike for those with renewals from July 1 through the end of 2020.
The Sapphire Reserve is one of the most well-received travel rewards cards of all time. Offering 3 points per dollar on travel and dining, it earns incredibly valuable Ultimate Rewards points that can be transferred to 13 hotel and airline partners or redeemed directly for flights at a rate of 1.5 cents per point. Add in a $300 annual travel credit, airport lounge access and free concierge service, and this card is guaranteed to upgrade your travel lifestyle.
Here's the link to apply for the Chase Sapphire Reserve with a 50,000-point bonus after spending $4,000 on purchases in the first three months from account opening.
Featured image courtesy of Wyatt Smith/The Points Guy
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