Sapphire Reserve Costing Chase How Much Money?

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$200 million, that’s how much! Back in August, the new Sapphire Reserve credit card really took us by surprise with a 100,000-point sign-up bonus for customers who spend $4,000 in the first three months, see post Amazing 100,000 Sign Up Chase Sapphire Reserve Card. I ended up applying for and being approved, Finally Approved For The Chase Sapphire Reserve 100K OfferUnfortunately, my packet arrived with a plastic card and not much else (What’s In My Chase Sapphire Reserve 100k Packet?) A couple weeks, ago JPMorgan did finally send me a metal card which was nice. Surprisingly, this offer is still available if you are able to get past Chase’s 5/24 rule. According to Bloomberg, the “new Sapphire Reserve credit card will reduce the bank’s profit by $200 million to $300 million in the fourth quarter.” I recommend that if you haven’t considered appling for the Chase Sapphire Reserve offer, you should take advantage of the 100k point signup bonus offer while you still can! To see all card offers you can click on ‘Rewards Cards’ tab and down to the “Other Points & Travel Credit Cards.” Then just click on the link that says “Click Here for card offers by issuing Bank” and scroll down to view all card offers from the bank that you are interested in, for this example choose Chase.

With the 100K bonus points, you can use those points for $1,500 in free travel or you can transfer them into airline miles or hotel points potentially for more. You can see all the Banks that we have links for here.

The Chase Sapphire Reserve Is Costing Chase How Much Money?

Via Bloomberg,

JPMorgan Chase & Co.’s new Sapphire Reserve credit card will reduce the bank’s profit by $200 million to $300 million in the fourth quarter, according to Chief Executive Officer Jamie Dimon.

JPMorgan introduced the card in August with a 100,000-point sign-up bonus for customers who spend $4,000 in the first three months. The points are worth $1,500 in travel booked through Chase’s website. The cards, which carry a $450 annual fee, were in such demand shortly after the launch that the bank temporarily ran out of the metal it uses to make them.

If you want to read more about the Chase Sapphire Reserve card and the many benefits that are costing Chase so much, check out these previous posts.

Bottom Line

Keep in mind that for the Chase Sapphire Reserve, your 2016 travel spend needs to be completed before your December statement closes. When your December statement closes it starts counting towards your $300 2017 annual travel spend. So, you will need to time your statement appropriately. You can always call Chase and ask them to change your statement due date and they should.

The Chase Sapphire Reserve card comes with tons of great benefits! If you haven’t checked out this card, yet I would encourage you to do so. If you already have the card, make sure that you are taking advantage and enjoying of all your benefits before your December statement closes!

You can see all Other Points & Travel Credit Cards here.

HT: Bloomberg

 

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Editorial Note: Opinions, analyses, reviews or suggestions expressed on this site are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. For details on current offers visit the card issuer’s site.

About The Weekly Flyer

The Weekly Flyer writes about travel from a business traveler perspective. He travels the world every week accumulating points and miles along the way.

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