But even if I cancelled my card and then applied for the Reserve, I still wouldn’t be able to earn the spending bonus. Your points are also worth a baseline of 1.5 cents each when you book travel through Chase. And if you hold the Chase Sapphire Reserve card, each point you earn will be worth 1.5 cents when booking travel through the Chase Ultimate Rewards portal. Is it worth upgrading if you’re otherwise not eligible to receive the card? The Chase Sapphire Reserve is a much more expensive credit card as it has a $550 annual fee instead of a $95 annual fee. Click here to sign into your account and update your card on file; Click on 'Update Payment' to add your eligible Chase Sapphire Reserve, Sapphire Preferred, or J.P. Morgan Reserve card as the default payment method Chase Sapphire Reserve – $550 annual fee (not waived in the first year), $300 travel credit per statement year, points are worth 1.5 cents per point through the Chase travel portal, access to Priority Pass lounges and $100 towards global entry credit. Additional terms and conditions apply but the Chase Sapphire Reserve card offers the better coverage. Absolutely. So, no thanks, Chase. Those of us that have a Chase Sapphire Preferred (one of the best credit cards), can upgrade to the new Chase Sapphire Reserve… though you won’t be receiving the 100k bonus points by upgrading. I've had the CSP for at least 5 years, maybe longer. 5% cash back on travel purchased in the Ultimate Rewards portal 3% cash back on drugstore and restaurant purchases 1% cash back on all other purchases Benefits of the Chase Sapphire Reserve Card. The Verdict: The Chase Sapphire Reserve® is a great option for high-spending frequent travelers who spend a lot of time in airport lounges. Factors That Chase Considers. On the bright side, it offers an initial bonus worth $750 as well as the points equivalent of 4.5% cash back on travel, dining and, for a limited time, on groceries on up to $1,000 spent per month. This, and all the other benefits, are what prompted me to ask Chase to change my Sapphire Preferred to a Sapphire Reserve card.. Plus, the travel and dining category gets a bump to 3X per $1 spent.Let’s see how much you’d need to spend to recoup a much larger annual fee. Ready to maximize my Chase Ultimate Rewards points, I upgraded my Chase Sapphire Preferred card to the Chase Sapphire Reserve. The Chase Sapphire Reserve has an annual fee of $550. Because Chase recently increased the bonus to 60,000 points on the Sapphire Preferred, I am recommending all military personnel first get the Chase Sapphire Preferred, to earn the extra 10,000 Ultimate Reward Points. I understand that I have to close my CSP in order to get the rewards points for the CSR. This means that you can’t product change a Sapphire Preferred to a co-branded credit card like the Chase Southwest card or the chase Hyatt card, for example. Is there a time frame to do this? The Chase Sapphire Reserve card provides primary car rental coverage while the Amex Platinum card offers secondary coverage. However, not all hope is lost. Everyday cash back. Chase Sapphire Preferred® Card: 5% cash back on up to $1,500 in combined purchases in bonus categories you activate each quarter. After 3 years with my Chase Sapphire Preferred, I finally decided it's time to upgrade to the Sapphire Reserve for 2 reasons Tanza Loudenback 2019-09-29T15:45:00Z Chase Freedom Unlimited® Travel. 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