Chase Sapphire Reserve's 2020 Update: What to Know
In year one, the card is well worth it when you tally up the $900 value of the sign-up bonus, the $300 worth of travel credits, and the $100 reimbursement for Global Entry or TSA PreCheck. You'd come out $750 ahead after subtracting the Chase Sapphire Reserve®'s cost for the annual fee.
Yes, you can upgrade from Chase Sapphire Preferred to Chase Sapphire Reserve by phone (dial the number on the back of your existing Chase credit card) or online (through a secure message in your online account).
If you want to try for a fee waiver or reduction, you can call the number on the back of your card or the general Chase customer service line: 1-800-432-3117. According to people who've had luck with fee waivers on other credit cards, having a high income and spending a lot can help.
After you're approved, your new Chase Sapphire Reserve card is typically sent by regular mail within 3-5 business days. But you can get 72-hour expedited shipping for free by calling Chase customer service at (800) 945-2000.
In my opinion, the Chase Sapphire Preferred is worth keeping and paying the $95 annual fee on. You need to keep open a Sapphire Preferred or Ink Plus so you can transfer your Ultimate Rewards points out to travel partners. That's a big key to traveling the world in style for pennies.
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The Chase Sapphire Reserve is one of our top premium travel cards. With a $300 travel credit, generous 3x points on dining and travel purchases and other benefits, you can get excellent value that far exceeds the annual fee on the card.
Only the Chase Sapphire Reserve® gives free airport lounge access – for the cardholder, authorized user, and up to two guests. If you have the Chase Sapphire Reserve®, Priority Pass Select membership requires a one-time activation at no additional cost.
In January 2020, Chase announced that the Chase Sapphire Reserve® annual fee would increase from $450 to $550 for renewals starting April 1, 2020.
Tip: Though the Chase Freedom Flex and Chase Freedom Unlimited cards are marketed as cash back cards, they are still considered Ultimate Rewards cards. That means you are able to upgrade or downgrade to or from these and the Sapphire cards.
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