Chase is at again, this time with temporary Chase Sapphire Reserve benefits in select bonus categories. One can assume this is in response to two things. One, AmEx upping the ante on its AmEx Platinum, AmEx Gold, and AmEx Green card. Two, changing consumer behavior in response to the coronavirus.
If you’re currently a Sapphire Reserve cardmember, this is welcome news. Nearly all mid to high annual fee card’s benefits seem to be changing as a result of the coronavirus. It’s likely Chase saw an opportunity to change spending patterns with travelers like you and me grounded.
5x Points on Instacart
From July 1, 2020, to September 30, 2020, Sapphire Reserve cardmembers earn 5x points on all Instacart purchases up to $3,000. In addition, you receive $50 in the form of statement credit for an Instacart membership. You can read more about the temporary Instacart benefit in Chase Adds Temporary Categories & Benefits To Sapphire Reserve.
For those of you not familiar with Instacart’s yearly or monthly membership, it offers unlimited free deliveries on orders less than $35 and discounted delivery fees on orders more than $35. The statement credits for the membership fee run from July 1, 2020, to September 30, 2020.
5x Points at Gas Stations
Seemingly to directly compete with the 3x points you earn with the Citi Premier, the Sapphire Reserve earns 5x points on up to $1,500 in spending at gas stations from July 1, 2020, to September 30, 2020. You can find more details about increased gas station earnings in Chase Sapphire Cards Add Limited Time Bonus Categories.
Chase is clearly trying to capitalize on restricted US travel by forecasting more of us will be taking US road trips this year. I love this move by Chase in attempting to lure spending away from the 3x points you earn on gas with the Citi Premier.
10x points on Streaming
With restricted travel for US travelers comes more time spent at home. My steaming minutes have likely increased since March so Chase wants to divert your spending to the Sapphire Reserve. Cardmembers earn a whopping 10x points on up to $1,500 in spending on streaming from July 1, 2020, to September 30, 2020. It’s important to read the terms and conditions to see if your streaming provider qualifies.
The AmEx Platinum is another card that received an update with respect to streaming. Cardmembers receive $20 per month on select US streaming. This covers an entire Spotify and/or Netflix bill helping to nearly offset the cost of these services. Chase adds new Sapphire perks and benefits shares more details that you should check out.
Annual Travel Credit Flexibility
The $300 Chase Sapphire Reserve annual travel credit is one of the many Chase Sapphire Reserve benefits. This credit typically helps to offset any purchase that codes as travel. Generally speaking, it’s easy to spend $300 in travel in a cardmember year, so you should be able to receive the face value of this credit.
Now the credit becomes even more flexible, which is great because the Sapphire Reserve fee is $550 every year. From June 1, 2020, to December 31, 2020, the $300 travel credit includes gas station and grocery store purchases. In short, you can offset $300 worth of travel, gas stations, and/or grocery store expenses in 2020.
Chase Sapphire Reserve vs Preferred
I regularly get asked to compare the Chase Sapphire Reserve vs Preferred. Both are awesome travel credit cards, however, each card is tailored to a different type of traveler.
The Chase Sapphire Preferred, which also has temporary travel benefits, is for the beginner travel. You pay a much lower $95 annual fee, compared to the Sapphire Reserve fee of $550. However, you earn points at lower rates with the Chase Sapphire Preferred and your travel benefits are not as robust as with the Sapphire Reserve.
Conclusion on the Chase Sapphire Reserve Benefits
I applaud this move by Chase on Sapphire Reserve. Increased earnings on Instacart, gas stations, streaming, and the annual travel credit flexibility make this card even more valuable card to have in 2020.
What about you? What do you make of the Chase Sapphire Reserve benefits? Please let me know in the comments or by sending me an email on my contact page.
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