There’s been plenty of excitement and curiosity surrounding the launch of the Sapphire Reserve card from Chase. Our team has poured over the benefits guide to extract all the best details, made a comparison chart for those still deciding between the Sapphire Reserve and the Sapphire Preferred, and now we want to share as many of the questions (and answers!) we’ve addressed in the last few days for anyone to reference.
1. How can I apply for the card?
You can apply for the Chase Sapphire Reserve online, or visit a local branch to apply in person.
2. What if I’m not approved?
If you go through the application online and aren’t approved, try applying in-person at a local Chase branch.
3. How long does it take to receive the card?
We’ve heard that cards should be expected in 5-7 standard business days, but overall, it seems that many readers are receiving their cards expedited in 2-3 days.
4. What’s the 5/24 rule I keep hearing about?
The short answer: Chase 5/24 means once you open 5 or more new accounts within 24 months, you’ll no longer be eligible for certain Chase-issued credit cards. This means prioritizing the cards you apply for is really important.
5. How strict are they being with the 5/24 rule for the Sapphire Reserve?
It’s hard to say since Chase doesn’t officially acknowledge the rule, but it does seem like cardholders applying for the Sapphire Reserve have been affected if they’re over 5/24.
6. What’s the annual fee?
The annual fee is $450 and is not waived the first year. To add an authorized user to the account, it will cost an additional $75.
7. When is the annual fee charged?
You’ll see the annual fee on your first billing statement when you receive the card. Each year after that, you’ll be charged the annual fee on the statement following your account anniversary. We recommend you set up a calendar alert that reminds you when it will be due!
8. Are there any foreign transaction fees?
Not a single one!
9. How can I earn the 100,000 sign-up bonus?
(Update: See our best credit cards for the current offer on the Chase Sapphire Reserve.)
To earn the 100,000 sign-up bonus, you’ll need to sign up for a new account and spend $4,000 within the first 3 months of opening your account. The cost of the annual fee does not count towards the minimum spend.
10. Can I get the 100,000 point bonus if I already have the Chase Sapphire Preferred?
(Update: Chase has changed their policy and applicants are no longer able to earn both sign-up bonuses in a certain period of time.)
Yes, but you’ll have to apply and open a new account for the Sapphire Reserve - not just upgrade the Sapphire Preferred.
11. Can I just upgrade my Sapphire Preferred to the Reserve?
While you may be able to upgrade, the sign-up bonus is only available to new accounts - which you can sign up for!
12. How do I earn the other bonus points I read about?
You’ll earn 3 points per dollar spent on travel and dining and 1 point per dollar on everything else you purchase.
13. How do I redeem or transfer my points?
Points can be redeemed and/or transferred by logging into the Ultimate Rewards portal.
14. What about the points I already have?
You’ll keep any and all points you already have in the Chase Ultimate Rewards portal, not to worry!
15. How can I get the $300 annual travel credit?
We love banking lazy perks and this one takes the cake. All you need to do is use the card on purchases coded as travel and the amount (up to $300) will be refunded to your account. Simple, right? This perk is available each calendar year, meaning that on January 1, 2017, your travel credit amount will renew even before your annual fee is billed.
16. What expenses are coded as travel?
The expenses coded as travel are quite generous and include airfare, taxi rides, hotels, checked baggage fees, in-flight food, airport lounge day passes, rental cars, and more. Even if you’re planning just one trip this year, you should have no problem spending the credit.
17. What’s the minimum credit limit for a Visa Infinite card?
$10,000. If Chase won’t approve you for that line of credit, you can request that additional credit be moved over from your other lines of credit.
18. Why haven’t I heard of the Visa Infinite before?
The Visa Infinite is relatively new in the US and we are truly excited about it - mainly because the benefits are amazing. We wrote an overview about the Visa Infinite a few days ago to highlight all the reasons we love it.
19. I heard the $100 discount on airfare from Visa Infinite doesn’t apply to this card. Is that true?
Yes, it’s true.
20. What’s the $100 Global Entry credit and how does it differ from TSA Precheck?
Having a Global Entry card expedites the time it will take you to get through customs, while the TSA Precheck expedites your time in the security screening area. Both are good for 5 years, but it’s important to note that Global Entry includes the TSA Precheck, but the TSA Precheck does not necessarily include Global Entry.
21. What kind of lounge access will I get with this card?
Sapphire Reserve cardholders will have a Priority Pass Select membership and that includes access to over 900+ lounges around the world.
22. Does the Sapphire Reserve offer primary car rental insurance?
Yes, you and any authorized user on your account will be eligible for primary rental car insurance. After declining the rental company’s insurance and charging the vehicle to your card, the Sapphire Reserve will cover up to $75,000 for theft or collision damage.
23. Will I have elite status at car rental agencies?
Yes, you’ll receive National Emerald Club Executive Level status with this card.
24. Will the Sapphire Reserve give me instant elite status at a hotel chain?
Not at this time, unfortunately, but it does offer elite-like perks when you book at Relais & Châteaux properties.
25. What about if my travel plans go awry due to delays, delayed baggage, and cancellations? How can this card help me?
It’s such a great feeling to know that if my travel plans change or my bags are delayed, a credit card - of all things - will have my back. If your trip is delayed 6+ hours, you’ll be covered for up to $500 per ticket. Also, if your bags are delayed 6+ hours, you’ll be reimbursed $100 a day (for up to 5 days) to cover clothing, toiletries, and more.
Disclaimer: This content and the opinions expressed here are the author’s alone and have not been provided, commissioned, or endorsed by the credit card issuer. All information was accurate at the time of this post but card terms and conditions may change at any time. Reward redemptions may vary.