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Chase Sapphire Reserve New Perks

Chase announced today some limited time enhancement to its credit cards with the option to redeem Chase Ultimate Rewards at 1.25¢ or 1.5¢ for select purchases such as groceries, food deliveries etc.. But Chase Sapphire Reserve cardholders also get something extra. Groceries and gas station purchases will count towards the $300 annual credit till the end of the year and the renewal fee will be set at $450 through the end of the year.

New Perks

• Pay Yourself Back, with each point worth 1.5 cents towards a statement credit used to offset purchases at grocery stores, home improvement stores and dining establishments from May 31 through Sept. 30.
• Expansion of $300 annual credit, with remaining balance automatically applied to purchases at grocery stores and gas stations from June 1 through the end of the year.
• Renewal annual fee lowered to $450 after July 1 through 2020, replacing the current $100 statement credit.

Guru’s Wrap-up

The Chase Sapphire Reserve card is also earning 5X points or miles per dollar spent on grocery purchases on up to a maximum of $1,500 in eligible purchases from May 1 through June 30, 2020. With the ability to redeem these points for 1.5¢ for many popular purchases, and the travel credit counting towards groceries and gas, the card definitely gives you tremendous value in these tough times.

The $450 renewal fee just simplifies the process of paying $550 and then getting a $100 statement credit upon renewal.

HT: Mmills06 on reddit

DannyDealGuru has partnered with CardRatings for our coverage of credit card products. DannyDealGuru and CardRatings may receive a commission from card issuers. Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.