For travelers and foodies, few credit cards compete with the Chase Sapphire Reserve. Sure, it has a $450 annual fee. But it also offers 3X points on travel and dining purchases worldwide, an application credit for Global Entry or TSA PreCheck and a de facto $300 rebate on travel expenses that includes not only airlines and hotels but everyday costs associated with commuter trains, Ubers and highway tolls — in effect, bringing the annual fee to a very digestible $150 (only $50 more than Chase’s entry-level Sapphire Preferred card).
Too good to be true? Maybe…
Starting Sunday, Chase will begin charging $550 a year for the ever-exceptional Sapphire Reserve card. Before you reach for the pitchfork, know it’s not all grim. Current cardholders will be able to renew at the current $450 fee before April 1st, while Chase is adding a few additional perks to help justify the hike. The most notable, probably, is a free year of Lyft Pink that promises 15 percent off all Lyft rides and free bike rentals every month.
If you’ve been thinking about signing up for the Chase Sapphire Reserve card, you have until Sunday morning to do it at the existing $450 rate (you’ll also receive a 50,000-point signup bonus if you spend $4,000 in the first three months). For existing cardholders, your additional perks will kick in on Monday.
Good luck with the application and happy jet-setting.
