Chase launched the new Chase Sapphire Reserve card last fall and it took the credit card world by storm with its huge sign-up bonus and fantastic rewards. But all good things must come to an end. January 11 is officially the last day that you can earn the 100k sign-up bonus when you apply for the Chase Sapphire Reserve online.
So what will the bonus be instead?
After today, the bonus will drop to 50,000 points, cutting its value in half. Those 50,000 Chase Ultimate Rewards points are worth a minimum of $750. So if you have been considering the Chase Sapphire Reserve, today is the day to pull the trigger!
The lower 50k sign-up bonus will match the current offer on the Chase Sapphire Preferred credit card. With the higher bonus, the Reserve is clearly superior to the Preferred. Now the two Chase Sapphire offerings will present a closer contest. The rest of the rewards on the Reserve will remain the same, meaning it will still be one of the top rewards credit cards, but this is a significant loss in value.
There is good news. January 11 is only the last day to earn the 100k sign-up bonus when you apply for the credit card online. The larger 100k sign-up bonus will still be available until March 12 when you apply for the credit card in a Chase bank branch.
Typically, it’s easier to get approved when you apply online and it is obviously more convenient. Depending on where you live, there may not even be a Chase bank near you. But if you might need a little extra time to apply, such as to pay down debt first or allow recently opened credit cards to roll off (5/24 rule), you still have two months to act.
One of the most lucrative credit card offers is going away. This is not a shock as Chase invested no money to promote the Chase Sapphire Reserve but instead put its marketing budget into a huge promotional offer that went viral. Reportedly, the move cost Chase $200-300 million in Q4 of 2016. The long-term value of the customers should greatly outweigh this acquisition cost.
Although credit cards usually have a time each year with increased sign-up bonuses, there is no guarantee that it will ever jump back up to 100,000 Ultimate Rewards points. It should be noted that I don’t get any commission when you sign up with my links. This is simply one of if not the best credit card offer I have come across. To take advantage of this great opportunity, sign up today.