Chase Sapphire Reserve Cardholders Receiving Up to $250 Retention Offers

Update 11/18/20: Many people are calling in and not everyone has been able to get these retention offers for Chase Sapphire Reserve. Some reps are saying that they are aware that “someone posted something online”, but “Chase is not offering anything to anyone”. Could be worth hanging up and trying again if you get a similar reply.

There is also a report of a different offer, $60 credit for downgrading to Chase Sapphire Preferred instead of closing the card completely.

Chase Sapphire Reserve cardholders who were recently charged their annual fee, and are thinking of keeping the card for another year, could get a nice bonus for doing so. Some cardholders who have called in to downgrade to the Chase Sapphire Preferred, have been offered up to a $250 retention bonus for keeping their Chase Sapphire Reserve card for another year. This is a card that has a $450 annual fee, so $250 would lower the fee to $200. The card’s benefits, such as the travel credit and more, would make it a no brainer to keep the card with that kind of offer.

The information comes from a couple of readers at Doctor of Credit and also reddit, who have reported that they received either $150 or $250 when calling. A Chase rep also mentioned that this is a new offer that they are recently seeing as an option. So it is definitely worth a try if you are thinking of getting rid of your Chase Sapphire Reserve card or downgrading to another Chase card. The $300 travel credit can currently be used on groceries as well, so that should be an easy way to have a fee-free Chase Sapphire Reserve for a year.

Let me know if you try and are able to get a similar offer.