Annual Fee increase for the Chase Sapphire Reserve from $450 to $550
Photo by CNBC
It’s confirmed! Chase has raised the annual fee for the Chase Sapphire Reserve from $450 to $550. Although this seems like bad news, Chase has added additional benefits to Sapphire card holders. Lets take a look to see if it’s worth it.
Increased Annual Fee increase starts on January 12
Rumors of the increase were confirmed by The Points Guy, which learned that the increase will start on January 12. If you already have the card and are due to renew before April 1, 2020, you’ll be able to renew at the $450 rate; after April 1, everyone will pay the $550 annual fee.
Apply before January 12 to pay the $450 annual fee for the first year. This is an incredible opportunity, since you’ll not only recieve the lower annual fee for the first year, but you’ll get both the old and new perks.
Added Benefits to Chase Sapphire Reserve Users.
With the increased annual fee come a few extra perks for users to take advantage.
DoorDash DASHPASS Membership
Free DashPass for up to 2 years, immediately upon activation. Normally $9.99/month.
Save an average of $4 - $5 per order
Enjoy zero delivery fees and reduced service fees on orders over $12.
Up to $120 in statement credits, $60 through 12/31/20 and $60 through 12/31/2021, on DoorDash purchases. No activation required.
Lyft Pink
Free Year of Lyft pink membership (actual cost $19.99 per month)
15% off unlimited car ridesSave on every car ride you take — any time, anywhere.
Priority airport pickups Get picked up faster at the airport when it’s busy.
Relaxed cancellations We’ll cover three cancel fees per month if you rebook within 15 minutes.
Surprise offersGet seasonal discounts and exclusive savings.
Waived lost and found feesWe’ll take care of the return fee every time.
Bikes and scootersEnjoy 3 free 30-min. bike or scooter rides per month (in select markets).
So is it Worth it?
Bottom line, this isn’t good news for Chase Sapphire Card holders. The perks seem to be very identical to American Express Platinum Uber credit and the American Express Gold Door Dash credit, but does it justify the $100 annual fee increase? No, unless you already use Lyft & DoorDash on a regular basis.
Even though the annual fee will increase, we still find incredible value through the Chase Sapphire Reserve earning potential and redemptions for the UR portal and transfer partners.
Are there other options?
Yes! If you feel like the annual fee increase doesn’t justify your expenses and you’re getting a negative ROI, here are some options for you.
Downgrade to the Chase Sapphire Preferred.
The Annual fee is still $95 and you have 25% increase value in the UR portal and the same transfer partners as the Reserve.
Move to American Express.
American Express has a great network of cards that can yield just as much or more than the Chase card system. You also pay a bit more for better travel partners and travel perks.
Move to Citi Bank
Why?? because the CITI trifecta is an amazing point yielding system that has been under the radar the last few years. The newly changed benefits to the Citi Thank you card to 2x back, the ability to combine CITI ThankYou points, and CITI’s transfer partners makes the ROI for first class flights even better than the Chase Trifecta! (We go over this in the Credit Hacker Mentorship)
The Most sought-after travel perk, the Southwest Companion Pass
We recently got the chance to fly Southwest Air on our recent trip to Kona using our AMEX Platinum airlines credit. For a more detailed review of the flight, check out our friend’s @islandmiler ’s blog!
With news of the SouthWest Effect hitting our islands (Hawaiian Airlines inter-island sales down 16% in Q2), be on the lookout for Southwest Credit card bonuses!
The Southwest Companion Pass is one of the most sought-after travel perks in the Travel hacking industry. When acquired, whenever you fly with Southwest Airlines, a companion can fly FREE with you for the remainder of the year and the next full calendar year. It only requires 110,000 Southwest points earned in one calendar year to score it, but there are a few credit card combinations you can make right now to earn those points with just two credit cards. Here’s how Southwest defines points that will count:
“Companion Pass Qualifying Points are earned from your revenue flights booked through Southwest Airlines, your points earned by making purchases with a Southwest Airlines Rapid Rewards Credit Card, and your base points earned from Rapid Rewards partners.”
*The pass is valid for the rest of the year in which you earn it plus the entire following year. Timing is everything so plan effectively!
Here is a brief rundown of the Southwest Credit Card’s and their current bonuses.
Southwest Rapid Rewards Priority Credit Card
Earn up to 60,000 points. Earn 40,000 points after you spend $1,000 on purchases in the first 3 months your account is open. Plus, earn 20,000 points after you spend $12,000 on purchases in the first 12 months your account is open.
VALUE: $900
$75 annual Southwest travel credit; 20% back on in-flight drinks, Wi-Fi, messaging and movies; and four Upgraded Boardings in the A1–A15 position each year (worth up to $50 each). $149 annual fee.
Southwest Rapid Rewards Premier Credit Card
Earn up to 60,000 points. Earn 40,000 points after you spend $1,000 on purchases in the first 3 months your account is open. Plus, earn 20,000 points after you spend $12,000 on purchases in the first 12 months your account is open.
VALUE: $900
No foreign transaction fees, earn points toward A-List status, $99 annual fee
Southwest Rapid Rewards Plus Credit Card
Earn up to 60,000 points. Earn 40,000 points after you spend $1,000 on purchases in the first 3 months your account is open. Plus, earn 20,000 points after you spend $12,000 on purchases in the first 12 months your account is open.
VALUE: $900
3,000 anniversary bonus points, $69 annual fee
Southwest Rapid Rewards Performance Business Credit Card
Earn 80,000 bonus points after spending $5,000 in the first 3 months
VALUE: $1,200
Four A1–A15 annual boarding passes, Inflight Wi-Fi credits, Global Entry or TSA PreCheck application statement credit every four years, 3x points on Southwest charges. $199 annual fee.
Southwest Rapid Rewards Premier Business Credit Card
Earn 60,000 points when you spend $3,000 on purchases in the first 3 months
VALUE: $900
No foreign transaction fees, earn points toward A-List status, 6,000 points at each renewal, $99 annual fee.
How to get Marriott Bonvoy Gold Elite in 2019
Is Marriott Gold Elite worth it? in my opinion, it is! Marriott has a 5 tier reward system: Silver, Gold, Platinum, Titanium & Ambassador, but the reals perks start when you qualify for Gold Elite? Marriott Members enjoy all the benefits of Gold Elite status after completing only 25 eligible nights in a calendar year — including redemption nights, but if you don’t stay at Marriotts too often? GET A CREDIT CARD!!
Listed below are the credit cards that give you an Gold Elite status with Marriott
Penha Longa Hotel & Resort in Portugal.
1. The Platinum Card® from American Express provides automatic Gold Elite status.
2. The Marriott Bonvoy Brilliant™ American Express® Card provides automatic Gold Elite status.
3. The Ritz-Carlton Rewards Credit Card (no longer open to new applicants) provides automatic Gold Elite status.
4. The Marriott Bonvoy Boundless Credit Card allows you to earn Gold Elite status when you spend $35,000 on purchases each account year.
5. The Marriott Bonvoy Business™ American Express® Card allows you to earn Gold Elite status when you spend $35,000 on purchases each account year.
6. The Marriott Premier Plus Business Credit Card (no longer accepting applications) allows you to earn Gold Elite status when you spend $35,000 on purchases each account year.
What value does Gold Elite status give you? (info from @thepointsguy)
25% point bonus ($90): As a Gold Elite member in the new program, you’ll earn 25% more points than a regular member, which works out to 2.5 additional points per dollar spent at most hotels. Since I’m assuming 30 nights with an average rate of $150 per night, that works out to an additional 11,250 points, worth $90.
Kauai Marriott Resort - Kalapaki Beach
Priority late checkout ($50): Gold members also enjoy a priority late checkout of up to 2pm, though it is subject to availability. Since there’s a stated time (in contrast the the aforementioned Silver perk), I’ll bump the value up slightly.
Elite phone line ($25): Same benefit, more frequent utilization
Complimentary enhanced internet ($30): Even though all members enjoy free internet when booking through a Marriott channel, Gold members can take advantage of faster speeds with complimentary enhanced internet access. I typically find that hotel Wi-Fi is decently fast, though if you like to stream videos or engage in other high-bandwidth activities online, the faster speed can make a difference. I’ll use the same value for this perk from previous posts: $1 per night.
Upgrades to enhanced rooms ($600): Gold members are also eligible for space-available upgrades to enhanced rooms at check-in. This may include rooms on higher floors, rooms with special amenities or rooms on the Executive Floor, but it explicitly excludes suites (per the terms & conditions). Since this perk is similar to what Hilton Gold members receive, I’ll use the same valuation of $20 per night.
Welcome gift ($50): If you’re a Gold Elite member, you’ll receive a welcome gift of extra Marriott points at check-in, either 250 points for limited-service properties or 500 points for full-service locations. Given the assumed split above, you’d earn an average of 375 points (worth ~$3.38) for each of your 15 stays.