Last Day to Apply for Chase Sapphire Reserve with $450 Annual Fee

Apply for Chase Sapphire Reserve with $450 Annual Fee

Last Day to Apply for Chase Sapphire Reserve with $450 Annual Fee

The annual fee for the Chase Sapphire Reserve® credit card is increasing to $550 starting this Sunday, January 12, 2020. New applicants have until end of day on January 11, 2020 to apply for the Chase Sapphire Reserve® card at a $450 annual fee. If the card has been on your radar and if you are eligible for the bonus, today is the time to apply in order to save $100 and take advantage of the new perks.

Perks and Benefits

Before applying for a card, you should always look at the welcome offer, perks and benefits and earning rates. The card was already worth it in my opinion, and until the end if the day today, you have the opportunity to get even more benefits for the same annual fee. Let’s look at what value you get from the Chase Sapphire Reserve® credit card.


New Benefits

  • Free DashPass for two years ($9.99/Month), which provides free DoorDash delivery and lower service fees from hundreds of restaurants on orders of $12 or more
  • $120 statement credit for DoorDash ($60 in 2020 and $60 in 2021)
  • Free Lyft Pink ($19.99/Month), which includes 15% off car rides, relaxed cancellations, priority airport pickups, up to three free 30-minute bike and scooter rides per month and more.
  • 10x Ultimate Rewards on all Lyft Rides, through March 2022

Other Existing Benefits

Then there are the existing benefits that made the card one of the best premium options on the market:

  • 3X points on travel and dining purchases worldwide
  • 50% more value on points redeemed for travel through Chase Ultimate Rewards (1.5 cents per points)
  • $300 annual travel credit to cover eligible expenses at airlines, hotels, car rental agencies and more
  • $100 application fee credit for Global Entry or TSA PreCheck
  • Complimentary Priority Pass Select membership, with access to over 1,000 VIP lounges in more than 500 cities worldwide

Warranties, Insurance, & Other Protections

And then there’s even more reasons to have and use the card for purchases.

  • Free roadside assistance 24 hours a day, 365 days a year by calling 1-866-860-7978. Includes free battery boost, flat tire service, 2 gallons of fuel delivery, towing, or lockout assistance.
  • Primary car rental CDW coverage worldwide.
  • Extended manufacturer’s warranty by an additional year, on eligible warranties of three years or less.
  • Purchase protection for your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per year.
  • Return protection for eligible items that the store won’t take back within 90 days of purchase, up to $500 per item, $1,000 per year.
  • Lost luggage insurance of $3,000 per person per trip.
  • Baggage delay reimbursement of $100 per day per person (max of 5 days) for essential items needed (Clothing, toiletries, charger, etc) for delays more than 6 hours.
  • Trip delay reimbursement of $500 per person for reasonable expenses (Hotel, food, toiletries, medicine, etc) required for delays more than 6 hours.
  • Trip cancellation and trip interruption insurance of $10,000 per trip or $20,000 per trip with multiple travelers.
  • Emergency Medical and Dental Benefit when traveling more than 100 miles from home.
  • Emergency Evacuation and Transportation insurance when traveling more than 100 miles from home.
  • $1,000,000 in travel accident insurance.

Welcome Bonus

With the Chase Sapphire Reserve® credit card you can earn 50,000 bonus points after you spend $4,000 on purchases in the first three months from account opening — worth up to $750 toward travel. You can get even more value for your points thanks to the many travel partners for the Chase Ultimate Rewards program.

Should You Apply Now?

Normally it might be a better idea to pick up the Chase Sapphire Preferred card first, since it has a better welcome offer. And then you could product change to the Chase Sapphire Reserve® for the benefits. But today is the last day you can get the Chase Sapphire Reserve® for a $450 annual fee, and upgrades to the card are currently not available.

With a $450 annual fee, a 50,000 points bonus, and tons of benefits, the card is a no brainier for the first year. Even for people that do not travel , the value of the bonus is at least $500. Then you get $300 in travel credit that applies to a wide variety of charges. DoorDash and Lyft benefits are also a plus for everyday life and they do have some value if you use those services.

When it is time to renew, then you have to decide if paying $550 is worth it. For me it is a no, but cast your vote below and let me know what you think.

Is Chase Sapphire Reserve worth applying or renewing with $550 annual fee?

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Keep in mind that if you already have the card, then you will renew at the lower $450 annual fee if your renewal date is before April 1, 2020. Renewals from that day on, will be charged the new $550 fee. Downgrading to Chase Sapphire Preferred is one option, if you think the perks don’t justify the annual fee. You still get most of the warranties and protections, 25% more value on points redeemed for travel through Chase Ultimate Rewards (1.25 cents per points) and 5x on Lyft rides.


Guru’s Wrap-up

The new benefits that were added have some value. Are they worth $100? I would say no. But if you’re able to apply and get the bonus with the fee still at $450, it is a card that delivers lots of value. The bonus is not the best, at 50,000 points, but it covers the annual fee and then some. I have the card myself, and my annual fee will hit after April 1st. I do love the 1.5c redemptions for Chase Ultimate Rewards, especially for last minute bookings which I find myself doing quite often. But I don’t redeem enough Ultimate Rewards points that way to justify the $550 fee. Chase Sapphire Preferred will have to do.

Let me know what you think.

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