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Chase offers many credit cards with fantastic perks and benefits however many of the perks have been rendered worthless because they are travel-related perks. If many perks of a card are worthless, customers are no longer interested in the card and are likely to cancel so card issuers have had to make adjustments to keep customers intrigued.
CHASE MAKE ENHANCEMENTS TO SAPPHIRE CARDS
Chase has added some very interesting (and temporary) perks for Sapphire cardholders.
Here are the enhancements for the Chase Sapphire Reserve (CSR) Card:
- Redeem points at a value of 1.5 cents each towards a statement credit used to offset purchases at grocery stores, home improvement stores and dining establishments (including restaurants, takeout, and eligible delivery services) from May 31 through Sept. 30.
- Use your $300 annual travel credit toward purchases at grocery stores and gas stations from June 1 through the end of 2020. It’s worth noting that this will be automatically applied.
- Annual fee renewal has been lowered to $450 (between July 1 and end of 2020). It’s also worth noting that this benefit will be in place of the $100 credit some cardholders may have received earlier.
Here are the enhancements for the Chase Sapphire Preferred (CSP) Card:
- Redeem points at a value of 1.25 cents each towards a statement credit used to offset purchases at grocery stores, home improvement stores and dining establishments (including restaurants, takeout, and eligible delivery services) from May 31 through Sept. 30.
Just incase you didn’t remember, both cards currently offer bonus points on grocery store purchases (5x on CSR, 3x on CSP).
Let’s looks at these perks one-by-one…first, the ability to redeem points at 1.5cents each to offset grocery, home improvement, and dining purchases is pretty amazing.
Personally, as an aviation geek, I prefer to use my points for amazing business and first class redemptions but, it is hard to ignore the value that you can achieve with “cashing out.” If you don’t plan to redeem your points for premium cabins, I imagine some readers will be extremely excited to offset the groceries you’re already buying because of ‘stay-at-home’ orders.
Second, the adjustment to the $300 travel credit means that it has become incredibly simple to use this year. Again, I imagine most readers will spend more than $300 at grocery stores and gas stations between June 1st and the end of the year so that perk is now (arguably) worth face value.
And finally, lowering the annual renewal fee is money back in your pocket with the benefit of better perks. Gotta love that!
I’m impressed with the development from Chase. If I weren’t such an aviation geek, I’d be diving head-first into these changes.
Keep in mind that these benefits are in addition to these benefits for CSR:
- 5x points on the first $1,500 spent on groceries per month (between May 1 – June 30)
- 5x points on the first $500 spent with DoorDash (through today – 31 May 2020)
- $60 annual DoorDash credit (currently just for 2020 and 2021)
- DoorDash DashPass
…and these benefits for CSP:
- 3x points on the first $1,500 spent on groceries per month (between May 1 – June 30)
- 3x points on the first $500 spent with DoorDash (through today – 31 May 2020)
- DoorDash DashPass
These perks are hard to argue with if you’re considering not renewing your card.
If you’re a CSR or CSP cardholder, what do you think about these changes?