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Old 09-06-2016, 01:29 PM   #21
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This seems to good to be true.

What are the 'Gotchas"??
It's $450 a year and you have to spend $4,000 in 3 months. Other than that; I know of none. The /churning Reddit forum has a LOT on there about it and this BY FAR has been the most celebrated reward card in the history of churning.

The question is how long Chase will offer it since SOOO many people are jumping in.
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Old 09-06-2016, 01:38 PM   #22
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Quote:
Originally Posted by ExFlyBoy5 View Post
It's $450 a year and you have to spend $4,000 in 3 months. Other than that; I know of none. The /churning Reddit forum has a LOT on there about it and this BY FAR has been the most celebrated reward card in the history of churning.

The question is how long Chase will offer it since SOOO many people are jumping in.
I don't know if it a gotcha but hard to get details on the med evac benefit.
Apparently if you do not have a S-Reserve, the benefit dept can not provide you any details on what the exact details are on this benefit or any other benefit. The rep indicates they have to have a card number to actually access the details of the benefit.
When we shopped med evac options, we found a lot of them reserved the right to decide where and when to evac. Some of them only will evac you to the nearest accredited hospital who can handle your injury. The one we purchase guarantees a trip home from where-ever you are hospitalized.
Other than the 100k limit, I can not access any of the details. Has any Forum member got this card,& have access to the fine print of the med evac benefit? It would be great to know what exactly you get for this item. If it is comparable the 450 annual fee is effectively cut in at least half from this benefit.
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Old 09-06-2016, 01:59 PM   #23
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Originally Posted by Chuckanut View Post
This seems to good to be true.

What are the 'Gotchas"??
Not necessarily a gotcha but I do not see the exact rules for the $300 per year credit for travel. This year is winding down and we likely won't spend a lot on travel in Sept through Dec. Let's say we spend only $500 on travel to the end of this year. How much of that $300 would I get?
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Old 09-06-2016, 02:18 PM   #24
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Not necessarily a gotcha but I do not see the exact rules for the $300 per year credit for travel. This year is winding down and we likely won't spend a lot on travel in Sept through Dec. Let's say we spend only $500 on travel to the end of this year. How much of that $300 would I get?
Have not found my answer for details for Med Evac but I did find the following regarding the 300 credit from the Chase site.
"$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 $300 in statement credits annually ("annually" means the year beginning with your account open date through the first December statement date of that same year, and each 12 billing cycles starting after your December statement date through the following December statement date)."
So, if I understand the above correctly,unless you have a big travel spend by Dec, you may want to wait until Dec to sign up
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Old 09-06-2016, 02:34 PM   #25
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Steve, I saw that but don't understand the formula they use. So in my example, suppose I spend $500 in 2016 how much of the statement credits (max=$300) do I get?
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Old 09-06-2016, 02:37 PM   #26
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Regarding medical evacuation:

Quote:
Benefit Information
Emergency Evacuation and Transportation benefits limit up to one
hundred thousand ($100,000.00) dollars
What is Emergency Evacuation and Transportation
coverage?
This benefit provides emergency evacuation and transportation if You
are injured or become ill during Your Trip and it results in a necessary
emergency evacuation. The Benefit Administrator must make the
actual medical transportation arrangements.
• You are eligible for the coverage when You charge a portion of the
cost, or the entire cost of a Trip, made via a Common Carrier, to
Your Account.
• The duration of the Trip cannot be less than five (5) days or exceed
sixty (60) days, and it must be in excess of one hundred (100)
miles* from Your place of Residence.
• You will be eligible to receive coverage for expenses not paid or
payable by Your medical insurance or other reimbursement up to
one hundred thousand ($100,000.00) dollars.
• The evacuation must be pre-approved by the Benefit Administrator
in consultation with a legally licensed Physician who certified that
emergency evacuation is warranted due to the severity of the injury
or sickness.

Please note: this benefit is supplemental to and excess of any
valid and collectible insurance or other reimbursement.

Coverage Information
Who is eligible for coverage?
You, a person to whom a United States (U.S.) credit card has been
issued (“Cardholder”), and Your Immediate Family Members when a
portion or the entire cost of the Trip, is purchased with Your Chase
credit card account (“Account”).
If there's more info you want, let me know. (Another Steve.)
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Old 09-06-2016, 02:38 PM   #27
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Steve, I saw that but don't understand the formula they use. So in my example, suppose I spend $500 in 2016 how much of the statement credits (max=$300) do I get?
If you spent $500 in 2016 on purchases categorized as "travel", which is pretty broad, you get $300 back.
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Old 09-06-2016, 02:41 PM   #28
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Benefit booklet attached.
Attached Files
File Type: pdf SapphireReserveCard_V0000039_BGC10582_Eng.pdf (330.3 KB, 14 views)
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Old 09-06-2016, 03:03 PM   #29
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If you spent $500 in 2016 on purchases categorized as "travel", which is pretty broad, you get $300 back.
You are probably right on this and that would work for us. It seems a bit too good to be true as a short $300 trip would be completely paid by Chase. I haven't located the Chase discussion which would prove it. I think Chase defines travel as "flights, cruise lines and hotels to car rentals, trains and taxis".
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Old 09-06-2016, 03:58 PM   #30
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Originally Posted by Lsbcal View Post
You are probably right on this and that would work for us. It seems a bit too good to be true as a short $300 trip would be completely paid by Chase. I haven't located the Chase discussion which would prove it. I think Chase defines travel as "flights, cruise lines and hotels to car rentals, trains and taxis".
A bit broader: “airlines, hotels, motels, timeshares, campgrounds, car rental agencies, cruise lines, travel agencies, discount travel sites, operators of passengers trains, buses, taxis, limos, ferrys, tolls, bridges, highways, and parking lots and garages.”

Edit; and it IS too good to be true. Can't sign up for a few weeks yet, so either the bennys will get nerfed or Chase will kill the bonus amounts.
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Old 09-06-2016, 04:35 PM   #31
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Benefit booklet attached.
Jonat
Awesome--thanks for posting the details. The Benefit Specialist could not/would not provide any details unless I had a Reserve Card number. Not sure if it was because they did not give them this booklet or they are all electronic and a number is required to access.
Thanks again
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Old 09-06-2016, 06:50 PM   #32
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I've signed up for the card. I think it is worth it assuming one will spend the $4k anyway, and assuming that one will pay off their balance in full every month.

The points earned are worth more than $1,500 if transferred over 1:1 to United, IMO. This is enough for a free round trip flight to Europe or Asia.

I will spend >$300 in travel also.

My one question/uncertainty: I signed up for the Chase Sapphire Preferred card earlier in the year and earned the $500 sign-up bonus. Now that I will have this new Sapphire Reserve card, I don't need to have the Preferred card since I don't want to pay the $95 fee with that card, on top of the $450 fee of the Reserve card.

Does it make sense to cancel/close my Preferred card to avoid the $95 fee with that card? Will Chase have any issue with that? Or is it more the fact that it will look bad on my credit if I close the card?
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Old 09-06-2016, 08:24 PM   #33
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I had this exact convo with Chase today. Chase seems to view the Preferred and Reserve as separate events. You can transfer credit limit between cards but that is about it. Rep did say a number of clients had downgraded their Preferred to Freedom to avoid the 95 annual fee. She also said no big deal to cancel as well but you would want all your credit line moved first so your credit rating does not take a "hit".
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Old 09-07-2016, 07:03 AM   #34
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I agree with nwsteve - better to downgrade to Freedom which also gets you 1.5% on regular purchases. Note that you will also want to have Chase move your points to the Reserve card.
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Old 09-07-2016, 07:33 AM   #35
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Edit; and it IS too good to be true. Can't sign up for a few weeks yet, so either the bennys will get nerfed or Chase will kill the bonus amounts.
[/I]
Why can't you sign up for a "few weeks"? The application has been live since 8/21.

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Originally Posted by nwsteve View Post
Have not found my answer for details for Med Evac but I did find the following regarding the 300 credit from the Chase site.
"$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 $300 in statement credits annually ("annually" means the year beginning with your account open date through the first December statement date of that same year, and each 12 billing cycles starting after your December statement date through the following December statement date)."
So, if I understand the above correctly,unless you have a big travel spend by Dec, you may want to wait until Dec to sign up
Nwsteve
No...notice the AND in the sentence. To maximize it, you want to sign up NOW.

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You are probably right on this and that would work for us. It seems a bit too good to be true as a short $300 trip would be completely paid by Chase. I haven't located the Chase discussion which would prove it. I think Chase defines travel as "flights, cruise lines and hotels to car rentals, trains and taxis".
As far as the $300 credit, they are VERY generous with this (for now). Folks are getting reimbursed for Uber, Lyft and AirBnB charges.

It should also be noted that if you work it right, you can get $600 in travel credits in the first year. Basically, you spend $300 *before* the December statement CLOSES (note this does not mean by Dec 31st!!!) you get $300 and then it resets for the next calendar year. So, you get the card NOW...charge $300 and get reimbursed. Then next year (before the AF renews) you get ANOTHER $300 credit.
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Old 09-07-2016, 08:07 AM   #36
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Why can't you sign up for a "few weeks"? The application has been live since 8/21.

.....
Chase has decided that if one has taken out 5 cards in the last 24 months they don't want to issue one another card. It is as if they think one is signing up for cards primarily based on the bonus rewards. Won't say they are wrong...
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Old 09-07-2016, 08:40 AM   #37
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You are probably right on this and that would work for us. It seems a bit too good to be true as a short $300 trip would be completely paid by Chase. I haven't located the Chase discussion which would prove it. I think Chase defines travel as "flights, cruise lines and hotels to car rentals, trains and taxis".
Remember unlike many card promos there is no waiver of the 450 dollar fee, so you have already paid them 450 bucks that they can use to pay you back the 300.
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Old 09-07-2016, 08:52 AM   #38
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Remember unlike many card promos there is no waiver of the 450 dollar fee, so you have already paid them 450 bucks that they can use to pay you back the 300.
As I understand it the $450 we pay is 1 year into the deal and by that time we have hopefully collected the $300 and well into another $300.

I guess this makes sense to them as it kind of stimulates more card use and that $450 is sort of a way of financing the stimulant. And we thought we were not into drugs? Still a fun way to go if one is determined to spend in retirement!
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Old 09-07-2016, 08:54 AM   #39
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As I understand it the $450 we pay is 1 year into the deal and by that time we have hopefully collected the $300 and well into another $300.

I guess this makes sense to them as it kind of stimulates more card use and that $450 is sort of a way of financing the stimulant. And we thought we were not into drugs? Still a fun way to go if one is determined to spend in retirement!
Report is that the $450 is taken on the first statement.
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Old 09-07-2016, 08:55 AM   #40
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Chase has decided that if one has taken out 5 cards in the last 24 months they don't want to issue one another card. It is as if they think one is signing up for cards primarily based on the bonus rewards. Won't say they are wrong...
Ah, gotcha. I think this is exactly why they have instituted the 5/24 rule. Churning has become very lucrative for some people and when I was still w*rking, I did it A LOT.
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