Sapphire Reserve Travel Credit Changing to Card Member Year (vs. Calendar)

6
1072

For all those that apply for the Chase Sapphire Reserve May 21 and on, the annual $300 travel credit benefit will be applied on a card membership year basis instead of a calendar year basis like the way it is now.

How it Works Now

If you apply now (May), you will collect $300 in travel statement credits through December of 2017, and then your $300 travel statement credits resets again in 2018. You could technically get $600 in travel statement credits before your second annual fee hit in May of 2018. That’s a gain of $150 over the annual fee (and is not even considering the myriad of other valuable benefits like lounge access and the 50,000 Ultimate Rewards sign up bonus).

How it Will Work for Those That Apply May 21 Onwards

If you apply May 21 (or later), you will collect $300 in travel statement credits over the course of the first year that you hold your card, as in from the date you’re approved to one year later. The travel statement credit will not reset in 2018, therefore the opportunity to collect on $600 worth of travel statement credits before the second annual fee hits will be gone. 

Here is the exact wording from Chase of the new terms: 

$300 Annual Travel Credit: $300 Annual Travel Credit: A statement credit will automatically be applied to your account when your card is used for purchases in the travel category, up to an annual maximum accumulation of $300. Annual means the year beginning with your account open date through the first statement date after your account open date anniversary, and the 12 monthly billing cycles after that each year. (For applications submitted before May 21, 2017, annual means the year beginning with your account open date through the first December statement date of that same year, and the 12 billing cycles starting after your December statement date through the following December statement date each year.)

Bottom (Dead)line

If you were contemplating an application for the Sapphire Reserve, I would apply now (or before May 21, which is Sunday). When the time comes for a cost benefit analysis–right before the second annual fee hits–you can decide then if the card is worth keeping open. But in the case you don’t decide to keep it open, you will have reaped the maximum possible benefits you could have from the card. 

Hat tip Travel After Work


Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

The comments section below is not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all questions are answered.

If you liked this post, sign up to receive one free daily email every morning with all of the day’s posts! You can also follow MileValue on Twitter and Facebook.

6 COMMENTS

  1. so does that mean if i’ve used my credit for calendar year 2017 but my anniversary date is in sept 2017, will i have the $300 travel credit again after sept 2017 which would be avail until sept 2018?

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.