Procrastinators be warned: This is the last week you can get a megabonus of 100,000 points from the Chase Sapphire Reserve℠, perhaps the most coveted premium credit card in years.
The big bonus, worth up to $1,500, is available for those who apply in person at a Chase bank branch through March 11, 2017. The online application deadline passed in January.
Too big to last
The biggest credit card story of 2016 was the introduction of the Chase Sapphire Reserve℠, with its planeload of travel benefits and sky-high sign-up bonus. But the bonus was too good to last. As of Jan. 12, 2017, the sign-up bonus was cut in half for online applications.
The current offer for online applications is still generous: Earn 50K bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards® .
The card’s other perks and rewards structure are unchanged, as is its beefy annual fee of $450.
Chase Ultimate Rewards points are usually worth a penny per point. But Chase Sapphire Reserve℠ cardholders can get 1.5 cents per point when using them to book travel through Chase. That gives the 100,000-point bonus a value of $1,500.
Cardholders can also transfer points on a 1:1 basis to several airline and hotel loyalty programs. Depending on the value of a point within those programs, the bonus could be worth even more than when booking through Chase.
The rewards structure on the Chase Sapphire Reserve℠ is excellent for a premium card. You’ll earn 3 Ultimate Rewards points per dollar spent on travel and restaurants and 1 point per dollar on all other purchases. Perks include an annual credit of $300 for travel expenses, which effectively reduces the annual fee by two-thirds, as well as a credit of up to $100 once every four years to offset a TSA PreCheck or Global Entry application fee.
The card also provides access to more than 1,000 airport lounges worldwide with its complimentary Priority Pass Select membership.