As detailed in the previous post, several card issuers have temporary COVID-19 related benefits for select credit cards. Now Chase pushes this further on the popular Sapphire Reserve Card and Sapphire Preferred Card.
Obviously, Sapphire Reserve is a very powerful card during this special time, as no other card has offered 5x points on groceries temporarily or offered 1.5 cent/point temporary redemption option for groceries & dining & home improvement. Of course the added flexibility of the annual $300 travel credit and temporary reduced annual fees all add to the value of the card. Personally, I was on the fence whether to keep this card upon my renewal in the coming October due to the increased annual fee and greatly reduced spending on travel & dining, and now it is clear that I will keep this card, at least for another year.
- Chase Sapphire Reserve: (1) the annual $300 travel credit will apply automatically to groceries and gas stations between 6/1/2020 to 12/31/2020 (in addition to the regular travel category); (2) between 5/31/2020 to 9/30/2020, Ultimate Rewards points can be redeemed in statement credits for groceries & dining & home improvement at a fixed value of 1.5 cents per point (in addition to the regular travel category redemption through Chase booking portal); (3) the annual fee will be reduced from $550 to $450 when you renew before 12/31/2020 (previously this reduction applies to renewals between 4/1/2020 to 7/31/2020); (4) as previously announced, continue to earn 5x points on groceries, up to $1,500 in purchases per month, from 5/1/2020 through 6/30/2020.
- Chase Sapphire Preferred: (1) between 5/31/2020 to 9/30/2020, Ultimate Rewards points can be redeemed in statement credits for groceries & dining & home improvement at a fixed value of 1.25 cents per point (in addition to the regular travel category redemption through Chase booking portal); (2) as previously announced, continue to earn 3x points on groceries, up to $1,500 in purchase per month, from 5/1/2020 through 6/30/2020.
Obviously, Sapphire Reserve is a very powerful card during this special time, as no other card has offered 5x points on groceries temporarily or offered 1.5 cent/point temporary redemption option for groceries & dining & home improvement. Of course the added flexibility of the annual $300 travel credit and temporary reduced annual fees all add to the value of the card. Personally, I was on the fence whether to keep this card upon my renewal in the coming October due to the increased annual fee and greatly reduced spending on travel & dining, and now it is clear that I will keep this card, at least for another year.
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