A few months ago, we decided to dive into the world of credit card churning to bring in some extra income. After several days of research we decided that the Chase Sapphire Reserve was the best available card out there. The offer was so good we even decided to get not one but TWO. Why not, right?
So what was so good about this card?
A major head spinning 100,000 points which equates to $1000 or $1500 if used for booking airfares, hotels etc. through Chase’s portal. And all we had to do was to spend $4000 in 3 months. Knowing that, first, I received mine in mid October. The plan was to get another one after bonus points are secured on the first one. But a few weeks later we found out that we could pay our oldest’s spring semester tuition, room and board with a credit card without any fees. Winning. With this information, we decided to get one for Mrs. DGF right away. This was sometime mid November. As of today, both of us have the points available to be used already. See below:
What about the $450 annual fee?
Nothing to worry about. It is not as bad as it sounds. 😊 This card comes with additional travel benefits outside of just earning points. Most notable benefit, perhaps, is the $300 annual travel credit. Every year, you automatically get credited up to $300 for all travel purchases (airfare, hotels, rentals, ground transportation, parking, uber etc…). Basically, this credit offsets the $450 annual fee to a great extent, effectively giving this card a $150 per year fee!
Hold on. That is not it. That $300 credit is for each calendar year. Remember me saying we decided to get one for Mrs. DGF right away? That was the reason for it. So what did we do? Since we didn’t have any end of year travel plans and using $600 on Uber wasn’t an option before 2016 ended we went ahead and bought $600 worth of South West Airline Gift Cards. And our accounts were credit by Chase the same day. Now we each have $300 available to be used for this calendar year as you can see on our reward dashboards above.
Before the next annual fee hits us if I want I can down grade my card to a no fee Chase Card and transfer my points to that card. We also have the option of transferring Mrs. DGF’s points to my card and cancel her card if we want to. This way we end up getting $600 travel reimbursement which is $150 more than the fee. Seems like money is piling up. 😜 By the way, they are so nice, in addition to reimbursing us $300, they still give us 900 points ($9). That is total of another $36 for both cards. See the details on reimbursements below:
Well, what now?
As I mentioned above, after using this year’s $300 travel credit for each card we will need to combine our points in one place in order to redeem them easily. Lucky for us, Chase Ultimate Rewards program allows points to be combined if you live in the same household or married. Their transfer process seems pretty easy. Since I am not there yet I don’t have the steps and screenshots yet. But “Bayalis is the Answer” has a post detailing the process: “How to Combine Chase Ultimate Rewards Points”.
Before I forget, a day or two ago, the 100K bonus on the Chase Sapphire Reserve has been cut to 50K points for online applications but if you apply in branch, you can still get the 100K bonus offer until March 12.
Now, I guess we are back to researching and finding our next card. I may also open a Chase checking account to get $300 bonus. Too bad wife is not working. We could have two checking accounts if she could make direct deposits. 😜
Chase Sapphire Reserve Card Summary table below is provided by UpgradedPoints.com:
- Web Site
- Card Focus
- Card Bonus & Info
- 100,000 points after $4,000 spent in first 3 months (if you apply in branch 100K bonus is offered until March 12)
- 3pts/$1 for travel and dining category vendors
- 1pt/$1 for all other category vendors
- Get a $300 travel credit for all travel purchases made on your card
- Get a 50% bonus for your points when used in the Chase Travel Portal
- $100 Global Entry or $85 TSA PreCheck fee credit
- Airport lounge access through Priority Pass
- Annual Fee
- Rewards Center
- Goes Well With
- Foreign Transaction Fees
- Typical Users
- Food Lovers
- Frequent Travelers
- Hobby Travelers
- International Travelers