I receive compensation for content and many links on this blog. Citibank is an advertising partner of this site, as is American Express, Chase, Barclays and Capital One. Any opinions expressed in this post are my own, and have not been reviewed, approved, or endorsed by my advertising partners. I do not write about all credit cards that are available -- instead focusing on miles, points, and cash back (and currencies that can be converted into the same). Terms apply to the offers and benefits listed on this page.
They’re letting you redeem points at full value towards restaurants, grocery stores, and home improvement stores. Sapphire Reserve travel credits will work at grocery stores and gas stations. And they’re reducing the Sapphire Reserve card’s annual fee temporarily as well.
Changes To The Sapphire Reserve Card
Chase Sapphire Reserve® has been one of the most popular premium products. It offers an initial bonus to earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
And it earns 3 points per dollar spent on travel and dining – great points that transfer to frequent flyer programs or can be spent directly on travel. It has a $300 annual travel credit, and provides airport lounge access with a Priority Pass card.
It’s the absolute sweet spot of a travel card, with points that transfer to a variety of airlines (such as United, Emirates, and Singapore) and hotel programs (including Hyatt). However Chase has worked hard to make the card offer premium value even when many customers aren’t traveling or dining out.
- Annual fee. Already customers whose renewals were coming up April 1 – June 30 were receiving a $100 statement credit against the card’s $550 annual fee. For renewals July 1 – December 31 the annual fee will be $450 (no need for statement credit).
- Broader travel credit. The card’s $300 annual travel credit, good from airline tickets to hotels to Uber, will be expanded starting June 1 and running through December 31 to include purchases at gas and grocery stores.
- Redeem points at 1.5 cents apiece towards restaurants, grocery stores, and home improvement stores. Available May 31 through September 30, 2020, this puts these everyday items on par with the card’s redemption value for travel through the Ultimate Rewards portal.
That is on top of additional benefits they’ve already added. Through June 30 the card earns 5 points on the first $1,500 spent each month on groceries per month. It also offers a $60 annual DoorDash credit in 2020 and 2021 and a DoorDash DashPass for a year, providing discounted delivery. There’s also a year of Lyft Pink membership and 10 points per dollar on Lyft rides through March 2022.
Changes To The Sapphire Preferred Card
The Chase Sapphire Preferred® Card has been one of the best cards, and remains ideal at the under-$100 annual fee price point. The card has one of the absolute best up front bonus offers in travel, 60,000 bonus points after $4000 spend within 3 months. The card offers double points on travel and dining, and points transfer to a variety of airlines and hotel programs.
Chase normally lets you spend points at 1.25 cents apiece towards paid travel through their portal. Between May 31 and September 30, 2020, you can redeem at 1.25 cents apiece for statement credits against spending at restaurants, grocery stores, and home improvement stores.
This is in addition to other new offers, including 3 points per dollar on the first $1500 in spend each more at grocery stores through June 30; a DoorDash DashPass good for a year; and 5 points per dollar on Lyft rides through March 2022.