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Back in January, the Chase Sapphire Reserve® had moved from a $450 Annual Fee up to $550. This move was not a shock to basic travelers, as the biggest competitor to Chase’s Premium Travel Card, the American Express Platinum Card Annual Fee has been $550 for years. The $100 increase boasted new perks like a Door Dash Credit and Lyft Pink Membership. Now that the travel industry is in crisis, many people are rethinking whether the premium cards with high annual fees are worth it at this time. Today, we have been receiving notification that Chase Sapphire Reserve Holders have been receiving a surprise $100 Credit!
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Chase Sapphire Reserve®
Earn 60,000 Ultimate Rewards Points after you spend $4,000 on purchases in the first 3 months from account opening.
- $300 Annual Travel Credit as reimbursement for travel purchases each account anniversary year
- Priority Pass Airport Lounge Access
- $100 application fee credit for Global Entry/TSA Pre Check
- 3x points on travel & dining after earning $300 in travel credits; 1x everything else
- Earn 5x on airfare and 10x total points on hotel and car rentals booked through the Chase Travel Portal immediately after the first $300 is spent on travel purchases annually.
Basic Travel Tips: This is one of our favorite travel cards as it has some of the best travel protection, as well as priority pass lounge access, rental car reimbursement, and more. Learn more here.
Chase Banks Surprise Message
Basically, the message states that current Sapphire Reserve Cardholders whose Annual Fee is due in April will still be charged the $550. However, given that the tough time everyone is experiencing, there will be a $100 Statement Credit Provided to help subsidize the costs of the Annual Fee.

Basic Breakdown
I think this is a great move by Chase Bank. It’s nice to see them being proactive during this challenging time. Let’s breakdown the $550 Annual Fee. $300 Travel Credit + $100 Statement Credit = $400. So the annual fee is down to $150. Now throw in the $60 Door Dash Credit which brings it down to $90. The question you should ask yourself is whether $90 is worth all of the Benefits (Lounge Access, Trip Insurance, 50% bonus when redeeming points in portal, etc.). It’s hard to predict when we will be able to travel again but I am cautiously optimistic for this summer. Given how much I value these benefits, my answer is a Hard Yes! Thanks to this goodwill by Chase, The Sapphire Reserve still remains ranked as one of the Best Credit Cards on the market!
What do you think? Is it still worth it to keep Premium Travel Cards like the Chase Reserve Open?
I’d love to hear down in the comments below or over in our 7,100+ Member Basic Travel Facebook Group!
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Basic Travel Couple, LLC has partnered with CardRatings and MileValue.com for our coverage of credit card products and may receive a commission from card issuers. Editorial Disclaimer: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
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