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 Last summer, JPMorgan Chase revealed its newest rewards card, the Chase Sapphire Reserve. It came complete with a $450 annual fee and a bevy of benefits, including an unheard-of 100,000-point sign-up bonus worth about $1,500 in travel credit. That sign-up bonus will be slashed in half for online applicants after January 11, according to The Points Guy. The Reserve's debut made waves among consumers. A spokeswoman for Chase previously told The New York Times that the card was an unexpected hit, especially among millennials, even before the bank spent a dime on advertising. But the card's generous benefits were perhaps too big of a hit. By December, JPMorgan Chase said it expected an earnings dip in the fourth quarter to the tune of $200 million to $300 million as a result of the card's popularity, according to CEO Jamie Dimon. The Reserve's sign-up bonus will soon match that of the Chase Sapphire Preferred credit card: If you spend $4,000 in the first three months, you'll receive 50,000 bonus points worth about $625, which is still a lucrative offer. The card will also maintain its steep annual fee, though cardholders receive a $300 travel credit reimbursement awarded each calendar year, effectively reducing the card's annual fee to $150. And the card's extensive benefits will still include: - 1 point earned for every $1 spent
- 2 additional points earned for every $1 spent on travel (includes airfare, hotels, Airbnbs, taxis, Ubers, etc.)
- 2 additional points earned for every $1 spent on dining (includes Seamless, bars, cafés, restaurants, etc.)
Beyond the points, the Reserve offers some perks that are truly unparalleled, including a suite of "elite travel benefits": - $100 application-fee credit for Global Entry or TSA PreCheck
- Transfer points 1:1 to frequent flyer and hotel loyalty partners
- Access to over 900 VIP airport lounges worldwide
- No foreign transaction fees
- Special benefits during a stay at Chase's Luxury Hotel & Resort Collection (including room upgrades, free breakfast, and early or late check-in/check-out)
If you miss the January 11 cutoff but still want to cash in on one of the most eye-popping credit card offers in recent memory, you can still get the original 100,000 sign-up bonus points until March 12 by applying at a physical JPMorgan Chase bank branch, according to The Times. SEE ALSO: The travel perks on this new credit card are so good that it might just be worth the $450 annual fee DON'T MISS: 6 months after choosing a new travel rewards card, I'm confident I made the right choice — here's why |
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