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 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 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.
