Updated new cardmember bonus offers are out today on the newly refreshed Chase Sapphire Reserve card (consumer version) and the Chase Sapphire Reserve for Business. While both cards feature big introductory offers, you’ll want to pay close attention to the details to decide whether these make sense for you. You’ll also want to consult the new eligibility rules, as we have seen some important changes on that front.
The Offers, Key Card Details, and Quick Thoughts
Chase Sapphire Reserve Card
| Card Offer and Details |
|---|
 ⓘ $1585 1st Yr Value Estimate$300 travel credit valued at $285, $300 StubHub credit ($150 Jan-Jun and again Jul-Dec) valued at $75, $500 Chase The Edit credit ($250 Jan-Jun and again Jul-Dec) valued at $125, $300 Chase Dining credit for dining at Sapphire Reserve Tables restaurants ($150 Jan-Jun and again Jul-Dec) valued at $75, $500 Chase Travel credit valued at $400 Click to learn about first year value estimates 100K Points + $500 Chase Travel℠ promo credit ⓘAffiliateThis is an affiliate offer. Frequent Miler may earn a commission if you are approved for this offer 100K + promo credit good for up to $500 towards a single Chase Travel℠ booking after $5K spend in 3 months. $795 Annual Fee Note that promotional travel credit is one-time use and if it is applied to a transaction of less than $500, the remaining value will be forfeited. FM Mini Review: Good all-around card for frequent traveler. Best when paired with no annual fee Chase Freedom Flex, Freedom Unlimited & Chase Ink Cash cards. Click here for our complete card review Earning rate: 8X Chase Travel℠ ✦ 4X flights and hotels booked direct ✦ 3X Dining ✦ 5X Lyft (through September 2027) Card Info: Visa Infinite issued by Chase. This card has no foreign currency conversion fees. Big spend bonus: After spending $75,000 each calendar year, get the following benefits: IHG One Rewards Diamond Elite Status ✦ Southwest Airlines A-List Status ✦ $500 Southwest Airlines credit when booked through Chase Travel ✦ $250 credit to The Shops at Chase Noteworthy perks: $300 Annual Travel Credit ✦ Transfer points to airline & hotel partners ✦ Up to $500 The Edit credit annually ($250 January to June and again July to December) ✦ Up to $300 Dining credit through Sapphire Reserve Exclusive Tables ($150 January to June and again July to December) ✦ Complimentary AppleTV+ and Apple Music through 6/22/27 ✦ Up to $300 in StubHub credits ($150 January to June and again July to December) ✦ Points worth up to 2 cents each towards qulalified bookings through Chase Travel ✦ Transfer points to airline & hotel partners ✦ Primary auto rental coverage ✦ Priority Pass Select lounge access ✦ Access Sapphire Lounges for yourself and 2 guests for free ✦ Access select Air Canada Maple Leaf lounges when flying Star Alliance ✦ Up to $120 Global Entry or TSA PreCheck® or NEXUS Application Fee Statement Credit ✦ Free DoorDash DashPass through 2027 ✦ Two promos of $10 off each month on non-restaurant orders from DoorDash ✦ $5 off restaurant order each month from DoorDash ✦ $10 monthly Lyft creditPrimary auto rental coverage ✦ Priority Pass Select lounge access ✦ Access Sapphire Lounges for yourself and 2 guests for free ✦ Access select Air Canada Maple Leaf lounges when flying Star Alliance ✦ Up to $120 Global Entry or TSA PreCheck® or NEXUS Application Fee Statement Credit ✦ Free DoorDash DashPass through 2027 ✦ Two promos of $10 off each month on non-restaurant orders from DoorDash ✦ $5 off restaurant order each month from DoorDash ✦ $10 monthly Lyft credit See also: Chase Ultimate Rewards Complete Guide |
Quick Thoughts
The new bonus offer on this card could be very valuable, though the devil is in the details.
It is important to understand that the Chase Travel Credit is part of the welcome offer, so you’ll need to meet the minimum spending requirement in order to unlock both the points portion of the bonus offer and the Chase Travel credit — you won’t be eligible to use that promo credit until you’ve made $5,000 in purchases within the first 3 months of approval.
Further, you need to be careful about how you use that promo credit: it is a single-use promo credit. If you use it on a travel booking that costs less than $500, you forfeit the additional value. If you use it on a booking that is later cancelled in part by a travel provider, you can receive a partial refund of the credit, but be careful not to use your credit toward a trip costing less than the value of the credit.
If you are able to make good use of that travel credit and the card’s more broadly applicable annual $300 travel credit that automatically credits qualifying paid travel (which does not need to be booked through Chase Travel), the combination would go a long way toward offsetting the card’s newly-increased $795 annual fee. Given the plethora of other coupon credits that now come with the card for new cardholders, it would not be difficult to come out well ahead of the annual fee for the first year between those credits and the introductory bonus offer.
All that said, I’m surprised that the welcome offer does not include more points. Given that we recently saw a bonus offer of 100,000 points on the Sapphire Preferred card (now expired), this Sapphire Reserve offer feels weak to me given that the card costs $700 more per year than the Sapphire Preferred.
Chase Sapphire Reserve for Business
| Card Offer and Details |
|---|
 ⓘ $2185 1st Yr Value Estimate$300 travel credit valued at $285, $500 Chase The Edit credit ($250 Jan-Jun and again Jul-Dec) valued at $125, $100 GiftCards.com credit ($50 Jan-Jun and again Jul-Dec for cards purchased from https://reservebusiness.giftcards.com/) valued at $50 Click to learn about first year value estimates 200K points ⓘAffiliateThis is an affiliate offer. Frequent Miler may earn a commission if you are approved for this offer 200K points after $30K spend in first 6 months.$795 Annual Fee FM Mini Review: Could be very appealing for a business that books a lot of travel, as it earns 8x through Chase Travel or 4x when booking direct through airline and hotels. It has decent perks, best-in-class travel protections, and earns valuable Chase Ultimate Rewards points. Best when paired with no annual fee Chase Freedom Flex, Freedom Unlimited & Chase Ink Cash cards Earning rate: 8X Chase Travel℠ ✦ 4X flights and hotels booked direct ✦ 3X social media and search engine advertising ✦ 5X Lyft (through September 2027) Card Info: Visa Infinite issued by Chase. This card has no foreign currency conversion fees. Big spend bonus: After spending $120,000 each calendar year, get the following benefits: IHG One Rewards Diamond Elite Status ✦ Southwest Airlines A-List Status ✦ $500 Southwest Airlines credit when booked through Chase Travel ✦ $500 credit to The Shops at Chase Noteworthy perks: $300 Annual Travel Credit ✦ Up to $500 The Edit credit ($250 January to June and again July to December) ✦ Up to $400 ZipRecruiter credit ($200 January to June and again July to December) ✦ $200 Google Workspace credit ✦ $100 Giftcards.com ($50 January to June and again July to December) ✦ Points worth 2 cents each towards qulalified bookings through Chase Travel(SM) ✦ Transfer points to airline & hotel partners ✦ Primary auto rental coverage ✦ Priority Pass Select lounge access ✦ Access Sapphire Lounges for yourself and 2 guests for free ✦ Access select Air Canada Maple Leaf lounges when flying Star Alliance ✦ Up to $120 Global Entry or TSA PreCheck® or NEXUS Application Fee Statement Credit ✦ Free DoorDash DashPass through 2027 ✦ Two promos of $10 off each month on non-restaurant orders from DoorDash ✦ $5 off restaurant order each month from DoorDash ✦ $10 monthly Lyft credit See also: Chase Ultimate Rewards Complete Guide |
Quick Thoughts
The new welcome offer on the business version of the Sapphire Reserve card is quite easy to understand. I am glad to see a large number of bonus points on offer here, though the $30,000 minimum spending requirement will be a hurdle to some small businesses. However, for those businesses that would not struggle to meet the spending requirement, this card could provide an opportunity to pick up a nice chunk of points in one shot.
That said, the offer isn’t necessarily show-stopping. Chase offers some business cards with no annual fee that feature excellent welcome offers. While those no-fee cards are missing many of the features of the Sapphire Reserve for Business card, you’ll have to run the numbers to decide whether the Sapphire Reserve for Business card’s features add up to enough value to justify the $795 annual fee. I previously noted that I couldn’t really imagine who this card is designed to serve, and I still struggle with that.
That said, I imagine that there must be some business owners who can take advantage of the right perks to make the Sapphire Reserve for Business card a keeper. And while $30,000 worth of spend could alternatively be put toward a couple of new card welcome offers that may meet or exceed the return on spend here, some will surely appreciate the opportunity to add to an existing Ultimate Rewards fortune and pick up a ton of valuable points with a single new card, particularly those for whom the perks are meaningful.
On a positive note, the Sapphire Reserve card application terms do not include any restrictions regarding those who have previously or who currently hold consumer versions of the Sapphire Reserve card. In other words, you can apply for the Sapphire Reserve for Business card even if you currently have a consumer Sapphire card.
New Sapphire Reserve Eligibility Rules
Speaking of Sapphire cards, new eligibility rules are said to be launching today for the Sapphire Reserve card and its introductory bonus. In the terms on the application page for the consumer version of the Chase Sapphire Reserve card, I see the following terminology:
This credit card is unavailable to you if you currently have one open. The new cardmember bonus may not be available to you if you currently have any other personal Sapphire cards open, previously held this card or received a new cardmember bonus for this card. We may also consider the number of cards you have opened and closed, as well as other factors in determining your bonus eligibility.
Bonus terms here closely mirror Amex terms by indicating that the new cardmember bonus “may not be available to you” if you currently have other personal Sapphire cards open or you have ever previously had the Sapphire Reserve or received a new cardmember bonus for it. In other words, even cardholders who got the Sapphire Reserve card when it launched in 2016 may not be eligible for the welcome offer now. On the other hand, while terms explicitly indicate that the card is not available to you if you currently have a Sapphire Reserve card, the offer terms indicate that those who have had the card before may not be eligible, rather than are not eligible. Therefore, it certainly sounds as though some customers who had the card before may be eligible to get the card again. Similar to the Amex pop-up, it seems that Chase will determine whether or not you are eligible for a new cardmember bonus based on their own internal algorithm.
That said, there are some bright spots in those terms to note:
- While you may not be eligible if you currently have other personal Sapphire cards open, terms leave open the possibility that current Sapphire Preferred cardholders may be able to get the Sapphire Reserve also. However, early reports indicate that most people who currently have a Sapphire Preferred card are getting a pop-up indicating that they are not eligible for the bonus. That pop-up says that those who currently have the Sapphire Preferred card are ineligible. This stands in contrast to the terms on the offer landing page. We don’t yet know what the long-term intention is here.
- The business version of the card does not indicate any Sapphire-related restrictions, so it looks like it should be possible to get both the consumer Sapphire Reserve and the Sapphire Reserve for Business for folks who qualify.
- Chase will now provide a pop-up notice when you click to submit a Sapphire application, indicating whether you are eligible for the bonus before you finalize the application. While that stinks for those who get the pop-up, it will provide some welcome clarity before deciding whether to finalize the application.
Overall, the new eligibility rules are a bummer for those who were counting down the clock on 48 months since the last bonus, since some were likely waiting to become eligible to receive the bonus again. On the other hand, the new terms leave open the possibility of getting both a Sapphire Preferred and a Sapphire Reserve card, which is probably good news for many.
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Do the bi-annual credits work immediately? Seeing that it’s still 5 days left till end of June, if I get approved for a CSR, and usually Chase lets you add a card to digital wallet, and say if I could book nights using The Edit, dine using Open table, in the next few days, would I get the credit for Jan-Jun 2025?
If so, potentially one has a chance to use these credits 4 times in the next 13 months, and the $300 travel credit twice if you downgrade within 30 days of annual fee posting, right?
I was excited because we use Google Workspace but….
“If you purchase a subscription service, your card may be billed for automatic renewals at recurring periods without further notice from Google. This offer will not apply to such renewals once the offer expires or is fully used.”
What?? This hasn’t been reported anywhere. Google Workplace IS a subscription service. So they’re saying you don’t actually get the credit… it’s only a one-time $200 credit for new subscriptions. Useless and shouldn’t be advertised as a credit and then controlled in fine print.
You might want to re-read the terms you quoted.
The terms are very clear. The $200 offer will not apply for renewals.
“once the offer expires or is fully used.”
Yep, I agree with Vincent. As long as you haven’t used up the credit at the time of the charge, and as long as Chase hasn’t removed that benefit, renewals will work to trigger it.
Data point… Just applied for the CSR at 4/24 and 44 months from receiving a SUB for a CSP and got the following message: “It looks like you’re not eligible for a bonus for a Chase Sapphire Reserve® credit card. This can happen if you’ve already held or received a bonus for this credit card. Current holders of personal Chase Sapphire cards are also ineligible. We haven’t done a credit check yet, so there will be no impact to your score if you don’t continue.”
I currently have the CSP so I assume that is one of the reasons I am ineligible. Going to try to downgrade and try again.
Have not seen one data point yet where someone with CSP has been approved.
Chase Sapphire Reserve: The Reality Behind the Hype
1. Premium Price Tag, Disappointing Value
$795 annual fee—let’s be real, that’s a hefty chunk of change.Expectations are sky-high at this level; you want a premium, seamless experience, not just a shiny piece of plastic.When you break down the benefits, it’s hard to see where all that money is going.2. Perks That Don’t Deliver
Travel benefits look fantastic on the website, but in practice, not so much.Many perks are tied to third-party vendors, which means more steps and less reliability.Accessing some benefits requires you to jump through hoops—specific booking methods, limited availability, or long wait times.Several key perks are already available on mid-tier cards at far lower price points.Customer service isn’t what you’d expect from a so-called “luxury” card.There’s no dedicated concierge feel—just standard support, often with long wait times and average responses.For the annual fee, you’d anticipate white-glove treatment. The reality doesn’t match up.3. Financial Downsides
Interest rates range from 18.49% to 26.49%. That’s steep, even by premium card standards.Carrying a balance becomes extremely costly, effectively negating any rewards you might earn.Many benefits have been outsourced or diluted over time:Instead of exclusive in-house perks, you’re often funneled through partner companies or generic programs.What was once a luxury experience now feels like standard fare, just with fancier branding and a higher price tag.4. Who Actually Wins?
If you’re a frequent traveler, constantly on the go, and dedicated to maximizing every single benefit, maybe you’ll squeeze enough value to justify the fee.For the average user, though, most perks go underutilized, and the premium price doesn’t make sense.The card seems more focused on marketing prestige than delivering a truly elite experience.5. Final Thoughts & Recommendation
The Chase Sapphire Reserve positions itself as a top-tier product, but in reality, it’s more style than substance for most customers.Unless you travel constantly and are meticulous about redeeming every benefit, you’re probably better off with a lower-cost alternative.In today’s market, there are plenty of cards that deliver better value and more consistent service, minus the hefty annual fee and flashy promises.Bottom Line:
For most consumers, the Chase Sapphire Reserve falls short of its reputation and price. Unless you’re an extreme power user, consider other options before committing.
One way to think about this. The CSR SUB + Edit benefit = 3 long weekends at a mid/upper range hotel. Assume $550/night x 6 = $3,300. $3,300 – $500 (SUB credit) – $750 ($250 Edit credit x 3) = $2,050. $2,050 / 0.02 (2 cents/point) = 102,500 points. So pay $495 annual fee (after $300 general travel credit) and you get a mid/upper range hotel for 3 long weekends in the next three half year periods. You could probably get 5/6 of this with the Bonvoy Boundless current offer, but without the strict date requirements and for only $95. Of course, you get the other CSR coupons and benefits. But far from a great deal! It seems like there are plenty of people jumping on this deal, but I’m still stunned the SUB isn’t better (I guess the funds for the real increased SUB went to pay for all those advertisements).
P2 got a CSP in May 2024 and the SUB in June 2024. His AF recently posted again on June 1 and he PCed to CSR about 10 days ago, thinking he wouldn’t be eligible for the new SUB because of the 48 month rule (news broke the next day that this was all changing). Now I’m wondering if he can cancel the PC from CSP to CSR and, instead, PC the CSP to a Freedom? Then he could apply outright for the new CSR? He is still within 30 days of when the CSP AF posted on June 1, the prorated CSR fee has not posted at all yet, and he has otherwise never had a CSR. Is this a bad idea? Is it he likely to be denied the SUB for already having the CSR for this brief period? Is this too much “gaming” for Chase and likely to flag his account?
Anyone downgrade csp and apply for personal?
Data point – I just applied for the consumer Sapphire at 4/24, but ~47 months since earning CSP SUB. I didn’t get a pop-up, but decision is pending. I might call tomorrow to offer to move credit line, as I have several open Chase cards.
I got approved over the phone. I forgot to unfreeze my credit and applied, so I had to call them after unfreezing my credit. While on the phone, the rep automatically moved my credit, without asking which card, and approved my application.
My last CSP bonus was about 45 months ago. I think I am supposed to be off 5/24 after June, but got approved today, so I’m not sure about this one.
That’s great you got approved. I called this morning, they said they were having trouble verifying my identity (even though I’m a long-time Chase customer and used my same info as what’s on file), emailed me a link asking to upload my ID. I did that immediately then called back several hours later to see if they needed anything else. After being placed on hold several times and ~20 minutes on the phone, I got no more info other than they received my ID and were still reviewing my application.
Pretty annoying, especially as I really want the card before renting a car next Monday (if I’m going to be approved), the whole experience just feels odd. If I’m not a good enough risk worthy of a SUB, then just deny it, but the ID verification effort feels like I’ll be approved eventually.
I’m in a similar situation as you LSP. It’s been about 44 months since earning CSP SUB for me and I downgraded the CSP after having it for about 25 months. I didn’t get a pop-up. I applied for the CSR through a referral link and it went straight to pending. I got an email this morning to say that my application was approved. I called a few minutes ago to ask about the SUB and a Chase rep said that there is no SUB linked to my new CSR and that I will get a letter in the mail explaining all the terms and such. This is super disappointing to me because I surely would not have submitted the application had I seen a pop-up, the Chase rep called it a “prompt,” that would have presumably said that I would not get the SUB. I’m hoping for some resolution after I get the snail mail and a follow-up call to Chase.
I got an approval email the day after submitting my application. I spoke with another customer service representative at Chase and they said I am eligible for the SUB. My card and terms arrive today and I see nothing in the welcome kit about the SUB, but I have been assured through Chase secure messaging that I am eligible for the SUB. Refreshing the CSR has been a doozy for Chase. Now I gotta max out this 6-month period’s credits before the end of the month. Hope everyone is able to strike while the iron is hot!
For some reason the 550 old one is still on referral links. But if you apply from there you might get account closure
I haven’t been able to generate a referral link. I assume you must be talking about a referral link generated before today?
I was checking monkey miles mine is same thing
Anyone have luck getting approval at LOL/24? Got denied for CSP but the business version went to pending. Thinking maybe I should call. Have a major trip coming up and the hyatt points alone would more than make first year AF worth it. The additional credits would just be icing on the cake.
What are the chances we see a substantially better SUB offer on this card in the next year? This feels like a “standard” offer to me, not an “increased” offer. The first year value on this offer is half (!!!) of the current offer on the Amex Platinum vanilla. Even Chase’s Bonvoy Boundless is currently offering better first year value (on a $95/yr card!). I just can’t believe this sad offer is it!
It’s impossible to say with certainty, but I can’t think of a time that Chase has ever done a refresh / new card launch and then increased the offer beyond the launch offer soon thereafter. In fact, after that 100K launch offer on the CSR when they launched it years ago, it was *years* until we saw it hit 100K again. So while I agree that the offer here feels weak, it feels unlikely that they’ll bigify it. Of course, if far fewer people apply than whatever they expected, who knows?
They have a full-screen pop-up on the NYTimes(.com) front page, so they’re really selling this one.
My guess is that the $500 travel credit represents the extra special new bonus that is exclusive to the launch – roughly similar to Venture X having a $200 AirBnB/VRBO credit at launch. The 100k (I’d guess maybe 80k long-term) alone might be the “regular” SUB.
For the new rules regarding redeeming UR points at 1.5x on the consumer version of the SR, would SUB UR points earned after October not fall into this category if you sign up for the business SR card today? Or do you have to hit the $30K minimum spend before the 10/26/25 deadline?
They need to be on your previously-existing (i.e. existed already prior to 6/23/25) Sapphire Reserve card before 10/26. You would need to earn the points and move them to your CSR before 10/26/25 to get the base-level 1.5c per point (which, again, only applies if your Sapphire Reserve card existed already prior to 6/23/25).
Thanks, Nick! I’m working on minimum spend for an Amex Bus Gold so I don’t think I can meet that spend before the deadline. I’m currently with the old CSR card, though.
OMAAT reports that “The welcome offer on a Chase Sapphire card is now “once in a lifetime,” so you’re not eligible for the welcome offer on any Chase Sapphire card if you currently have or have had any Chase Sapphire card (either Preferred or Reserve)”
Is that how you’re reading the eligibility rules? It says “this” card when taking about cards you’ve received the bonus on before.
I currently have the CSR, but am wondering if I cancel it, would I be eligible for the bonus on the CSP, which I’ve never had before.
That doesn’t sound correct at all because there are tons of people who have downgraded Sapphire cards in the past who are being approved for the SUB now (see comments on Doctor of Credit or the churning subreddit for data points)
As Nick pointed out, the language is “may not be eligible”. Based on current DPs, it sounds like it’s pretty much status quo from before: they’re denying anyone who currently has a CSP, and while the language gives them cover to deny anyone the bonus who has ever held any Sapphire, that doesn’t seem to be what’s happening. Whether you get the bonus if you downgrade… you “may” or “may not”.
I have updated it to say that many/most who currently have a Sapphire Preferred are getting a pop-up saying that they are ineligible. We’re trying to get clarity since the landing page says that they may not be eligible (which implies that they may), but the pop-up that many are seeing says that Sapphire Preferred cardholders are ineligible for the consumer Sapphire Reserve. Hopefully we’ll get a more thorough update at some point soon.
I did not get a popup; have CSP; app was denied and credit pulled.
However, I was able to get instant approval for CS biz
Super disappointed in the CSR sign up bonus! Amex level annual fee should equal Amex level SUB. I’m out on this deal. Hopefully the signs ups are slow and Chase increases the offer.
Just got approved for Sapphire Biz with your link! Thanks for the great work this team continues to create! Now just need to spend $30k in the next six months…. 😮 🙂