Did Chase Just RUIN the Sapphire Reserve?
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- Опубліковано 1 кві 2024
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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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With a family of four and having my wife as an Authorized user we would routinely clear $112 worth of food and drinks from the pp restaurants. It's a big disappointment to see this perk go away.
So according to your logic you’re disappointed that a company which like most other companies try to make more money than they lose will NOT pay you thousands of dollars per year against a net annual fee of $250? I’m not saying that you’re “abusing” the system, but you sure gladly like to milk it in some form. Funny though that you believe Chase should just continue to fund your family restaurant visits at a net loss. It’s always been like this
and that’s the only thing that makes sense: when a concept doesn’t make financial sense because of too many people overstretching the reasonable benefit (wherever that threshold may be) then it’s not viable to keep that concept alive. What a surprise, right!? Lol
You are why this benefit is going away. Good!
Outdated card, needs a big update.
agreed
One of the airports I frequent has no lounge, so the $28 PP restaurant benefit was an incentive for me to switch to CSR if I drop my Amex Platinum at renewal. Now I'll have to reconsider my options.
When I travel I like to use the lounge and spend points on free hotels. I feel the two biggest benefits of the CSR are the lounge access and the points with the Hyatt relationship. The $300 reimbursement brings the out of pocket annual fee down to $250. I very easily get $250 worth of value out of the card by 1) Not paying for lounge access 2) eating/snacking in the lounge and 3) using points for things such as free hotels. I travel a lot internationally. Intenational travel (longer flights combined with layovers) makes the lounge much more valuable, and I find that as a rule the lounges overseas are a little nicer and offer a better selection of food, etc. So...losing the restaurant $28 credit is disappointing, but not a deal breaker.
This is a big negative. My wife has the sapphire reserve and we would always stop at PP restaurants, especially out of our home airport in Seattle. We probably won't be keeping the card due to this change...
It would be great if the CSR offered 4X on dining or a multiplier for streaming services like little brother CSP does. Or if they added a grocery multiplier that would be great also.
When did the CSP get 4x on dining?
@@kevinjames8050 Yeah the way I put that is a little misleading. I mean a multiplier on streaming like on the CSP. OR if the CSR added 4X on dining or a multiplier for groceries
Why would I want streaming on a travel card? Grocery would be more appropriate for the Freedom. 4X dining to distinguish the CSR from the CSP or Freedom would be good, I always thought it odd the Reserve didn’t have better multipliers than “lesser” cards, like the Citi Prestige over Citi’s other cards. Then again, multipliers were basically the only benefit the Prestige had at the end of its life.
Ah, that makes sense. The CSR already seemed like a poor value proposition compared to Amex Platinum or Venture X, even before the loss off PP benefits, so hopefully Chase does something to revamp.
@@headlibrarian1996 I'm just thinking of alternative ways to make this card better. Most people stream nowadays than have cable. And why add a streaming multiplier to the CSP but not the CSR?
Notice the CSR primary CDW limit is up to $75k but on the CSP or United Explorer there is no dollar limit on the reimbursement
The reserve has been a joke since they raised the annual fee. Priority pass lounges are really bad and other cards offer the same, or more, for less.
The Venture X let’s you bring an unlimited number of guests in PP lounges - or however many the lounge will allow.
Venture X for the win!
@@TheSonyExperience That will end soon as well.
@@trave7644 I suppose that would negatively impact people trying to get a ton of passes. Since it's just me and my wife, that's all I need. I does seem like an oversight on their part to allow for unlimited passes based on AUs
I dumped this card when they increased the annual fee. No longer the benefits justify the fees.
I used to use the restaurant benefit regularly, 1-2 times a day at different restaurants inside an airport while waiting for work or a flight. Sad to see this benefit go, truly was the best deal amongst other credit cards
It’s because they are focused on the Sapphire Lounges
Too few of those to matter.
Good video Sir! 👍
My card that I got this year only gave us 60 some odd thousand in points. And at a cost of $550 a year plus we paid 150 more for two family members to have the priority pass benefits.
Works for me as a card that I use on business trips. Put all my travel expenses on it and the pay it off with the reimburesment.
Priority restaurants seem to be a first-few-years on the market benefit. I can only assume WF or Citi will have restaurant access when they launch Beyond or Strata or whatever card they roll out in the luxury travel segment
The travel also includes using the card as the automatic refill on toll roads. If I spend $200/month on tolls (not unusual where I live), that's 600 points per month, 7200 points per year. At 1.5x on travel, that's over $100 worth just on my tolls I'd usually pay.
👍 Nice update - thanks!
Damn. The CSR is not really worth it at this point since I have the Gold and Platinum. Ill probably downgrade to a freedom card, but apply for the Sapphore Premier so i still have access to transfer points and have a Visa card with no fees when using it outside of the US.
I have the BOA elite card but can’t figure out hire to get my priority pass. The bank has no idea there’s even a feature to help out
I am leaning towards the Venture X & the Bank of America Premium World Elite. Maybe the USB AR
Ben … do you know if I book a rental car through chase portal with points (not money) do you still get rental car insurance?
I would pay for an extra day with your card just in case or upgrade the car and pay the difference . The fine print says hold and pay with the card
If they still do the $15 monthly instacart credit, with $180 total credit per year, than it still might be worth it if you use instacart. But how long will that last?
I’ve chosen to go with the chase route over C1 and Amex. due to me doing more domestic travel in the next few years and the 20k sq ft lounge coming to my home airport soon.
Wouldn’t consider this a little change but that’s because one of my home airports has 2 PP restaurants. Unless Chase revamps this card I’ll be downgrading to CSP come renewal time ✌🏿
Thank u for telling us bro
What sucks so much is that when I called priority pass to pay for the $469 membership none of the money that we’ve just spent for their card through Chase can be applied no transfer status. I think when someone just pays for that option and the credit card company doesn’t honor the year that you paid, for it just shows can pleat bait and switch tendencies.
Was considering to switching to mainly Chase with CSR instead of Amex with Plat but it looks like Amex is keeping me for one more year.
Absolutely they did. I just got my CSR in January, after am ex aspire took away priority lounge. Think of how pissed I am. I specifically got it for priority (and the restaurant benefit)
I have the sapphire preferred trifecta. I also have the Hyatt card. Loving being able to transfer Chase points to Hyatt. I’ve averaged around 3 cents per point over the last year. Stayed at so many hotels.
3 cents won’t be on much redemption now cos they just had a revamped awards change
@@6caznchix not really. In my area some hotels actually got a lower category.
Totally agree with you what a deception they have placed on many of us who just got their card paid the $550 and then waited a month to get our priority pass. Only to be told the next month the benefit of the reason we got the priority pass is going to be removed. Really I think they should have to honor if we just became a priority pass the benefits he got it for for the remainder of our year.
After 2 SUBs and having the CSR from 2016-2023, I downgraded to the CSP and use my Ritz-Carlton for Sapphire and PP lounges.
The RC is losing PP restaurants too.
That was actually the reason why I get the card. Not travelling as much now so don't have the card. But probably won't sign up even when I do travel
Can you use Chase for say Amtrak? Would chase consider that in the travel category. I’m new to using Chase credit cards; excuse the dumb question if it is one. Thank you for all you do. I find your videos most informative.
Yes it should be
I had saphire reseasrve and hardly used the rest. benefits. And then downgraded and got Venture X. It works well for me now. But still got other chase cards and waiting to apply for my second bonus on the 80k chase preferred! So will carry Venture x and preferred.
This card is dated, the reward multipliers are no good because you can get the same multipliers from CSP or Freedom cards, and the $250 effective annual fee is way too high.
right, it is super weird than now all of Chase's UR earning cards (almost) get 3x on dining, makes no sense
Best card still, you still have full priority pass plus the restaurant credit and the annual fee is still $450. The name is THE RITZ CALTON CARD. Plus the annual hotel say and the $300 travel credit cover the annal fee and then some.
I canceled mine last year as the AF is getting out of control
I think whether it’s “ruined” has a lot to do with your home airport and where you frequently fly. Home for me is JFK in the winter/spring and BOS in the summer/fall. I’ve never used the restaurant credit so I won’t miss it one iota. $300 travel credit more than makes up for that as I use the NYC subway daily. Both my airports now have new Sapphire lounges. The $550 yearly fee is a pain but not even close to the Platinum (which needs a companion Gold card to get anything more than 1%). Love the Reserve. My favorite card in the wallet. Even better than the Amex Gold.
JFK had bobby Van’s steak house though….
If Chase wanted to make the Sapphire Reserve more interesting they should add a 100X multiplier for flights or groceries.
10 times right? Not 100?
@@JazzyMarineVetno I agreed 100x would make the card way better or at least at minimum 2x all purchases like the “Venture X”
Wow I was expecting this to be clickbait but that was the biggest benefit to the Sapphire Reserve imo. I wonder if they will do the same to the Ritz-Carlton card? I also picked up the altitude connect a couple weeks ago specifically to pair up with my venture x to cover the occasional restaurant visit but I do suspect they will drop that at some point, at least the sign up bonus is good though.
Unfortunately, the Ritz Carlton and JP Morgan Reserve also lost the PP restaurant benefit.
@VincentPascual Oof well that kills my plan of replacing my Venturex with the Ritz-Carlton card, I might consider the Venturex business again if they bring back the previous signup bonus next year when I have more spend.
Sad that shrinkflation is even hitting credit card perks
I honestly question the usefulness of these high-yearly-fee-cards, Over time, it seems like that are all chipping away at the truly useful benefits, while adding largely useless ones to try to compensate.
If they would bump up dining to 4X this card would trump all of them IMO. I could actually drop the amex gold card for dining.
I would love that
Heaven had a chance to experience a priority pass restaurant. Make give it a go before the opportunity disappears. Plan to keep my CSR.
"For people who fly economy." Not the best description of a "premium travel card". That may cause Chase some emotional damage.
Haha
I went to my bank and had my private client banker check on this. They were not able to substantiate this change. Where are you getting your info? That is not on my statement?
Yeap, I’ve called several times and they could not give me any info on this.
It's clearly mentioned on the credit card statement dated 03/27 and later. Wait for your April statement, you will see it.
Ha ha funny the best value from a premium cc is for economy flights. As someone who used to fly economy everywhere, I could not afford a cc like the reserve back when I did. Now I can I fly premium economy/ business. Only fly economy on 3 hour flights max.
you should keep doing Sci-Fi lore as British Ben.
What makes it relevant? Nothing. Eats was the last straw
Chase just closed all my accounts :(
Why?
They did my cards too but not my savings account
Amax Platinum has the priority pass for restaurants
No, it was also removed a few years ago, except for one or two restaurants
laughs in cash
'OMG NOOO ITS -RuInEdDDDDdd- WTFF NOOO HOW WILL PEOPLE SURVIVE'.
Now can we agree to stop with the clickbaity end of world titles and thumbnails with flames.
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Tell your wife she has a hot husband lol!!😂😊😮