Wednesday, August 24th, 2016, 4:49 pm
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I wrote about the incredible Chase Sapphire Reserve on Monday and I’ve answered hundreds of questions in that post, so if you have questions I’d recommend reading through the comments there first.
The card offers 100,000 points for spending $4,000 as well as $300 in automatic cash back for the first $300 that you spend each calendar year on triple point categories like airfare, car rentals, hotels, Airbnb, campgrounds, cruises, or transportation which includes trains, buses, subways, Uber, Lyft, taxis, limos, ferries, bridges, tolls, E-ZPass, and parking. It also gives you the option to transfer your points to miles or use your points at a value of 1.5 cents per point, which means in your first cardmembership year you’ll get $2,100 in travel credit.
-I confirmed over the phone and via secure message that the Priority Pass Select lounge membership that comes with this card includes unlimited free guests that can accompany the member into the lounge! That includes access to over 900 clubs worldwide including lounges with kosher food and wine in Newark and Tel Aviv.
-You can call Chase to enroll in Priority Pass or you can enroll online here.
-Additional users cost $75/year and they also get their own Priority Pass lounge membership with unlimited free guests.
-I confirmed over the phone and via secure message that each additional user also gets their own $100 Global Entry credit every 4 years.
-There are numerous posters in the comments here and on DDF who have been approved for this card despite opening more than 5 cards in the past 24 months but there are also many who have been denied. Many were able to call reconsideration and move over credit lines for the minimum $10,000 line required for this card, while many others have hit brick walls. Some people had luck checking in-branch to see if they were pre-approved while others were denied even when pre-approved. As always, YMMV (Your mileage may vary).
-If you have authorized user cards on your report, some reps will allow you to be reconsidered without counting them as part of the 5 cards, just say that you are not financially responsible for the card. You can always HUCA if a rep insists on counting those or you can work with the bank or credit bureaus to have them removed from your report.
-People with Chase Private Client (CPC) status have reported having much better luck with approvals via calling Chase and by having their banker call for them. Officially CPC is for people with $250K in assets with Chase, however if you have a relationship with a banker they can give you CPC status regardless of the assets that you keep with Chase. If you have a family member with CPC they can also make your account have CPC status. If you share an account or a safety deposit box with a CPC member you’ll also get CPC status.
-I recently got CPC from a banker and was able to get approved via 3BM for a Sapphire Reserve, Ink Plus, and United card, bringing my current total primary Chase cards to 13. I only had to shift my credit lines around to get approvals for those cards.
-With my Sapphire Preferred card rendered redundant by the superior Sapphire Reserve, I downgraded my Sapphire Preferred card to Freedom Unlimited. That means I’ll get 1.5 points per dollar on regular spending with my Freedom Unlimited card, 2 points per dollar on gas with my Ink Plus card, 3 points per dollar on travel and dining spend with my Sapphire Reserve card, 5 points per dollar on rotating categories with my Freedom card, 5 points per dollar on Cell Phones/Internet with my Ink Plus card, and 5 points per dollar on office supplies and gift cards with my Ink Plus card. I’ll still use AMEX for groceries, possibly for gas (though right now I’m using Costco Cash bought on Freedom for 5 points per dollar), and for any items that might need warranty or return protection.
-I was able to transfer points from Freedom, Sapphire Preferred, Ink Cash, Ink Plus, and Ink Bold cards to Sapphire Reserve and immediately my points were able to be used for 1.5 cents each towards travel, or 1 cent each as cash back (please don’t try this at home!), or transferable to miles.