Today was the official launch day for the Chase Sapphire Reserve card and as of now, there is still no live application page on Chase’s website to apply for the Sapphire Reserve card. Chase has made the Sapphire Reserve Card Benefits Page live in case you wanted to get a more in depth view of what the card has to offer. The highlight of the Chase Sapphire Reserve card is the confirmed 100,000 ultimate reward point sign up bonus offered for spending just $4,000 in the first 3-months of opening the card.
Although there are no online application links yet available, many users on Reddit are reporting they were able to apply at a Chase branch for the card and many received instant approval, others were told they would receive a decision in the mail in the coming weeks, and sadly, some were told they were denied because of Chase’s 5/24 rule. Chase started implementing a rule that will deny applicants from receiving signup bonus if they have opened 5+ credit cards in the past 24 months. This rule is for ANY credit cards, not just those issued by Chase. The rule is sad new for many that churn credit cards, but as with anything, it does not hurt to ask and ask again, especially when the signup bonus is so lucrative.
Is the Chase Sapphire Reserve Card worth it?
Yes, the 100k signup bonus alone makes the card worth opening, but on top of that the card is worth keeping because of the extra bonus points earned on travel and dining over the Chase Sapphire Preferred card. Also, in the first year of opening the card the $450 annual fee can be offset by a $300 calendar year travel credit. This means if you open the card in 2016 and downgrade in late 2017 before the second annual fee is due, Chase will pay you $150 to open the Sapphire Reserve card! Not to mention the 100k signup bonus carries a guaranteed value of at least $1,500!
Final Thoughts
There are definitely a few areas where the Sapphire Reserve is lacking, but for the time being, if you are able to apply and get approved for the card it is definitely worth opening as long as you make sure to make full use of the travel credits and hit the signup bonus target. I will update this post with a link to an application page as soon as Chase makes one available.
