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Changes Coming Soon to This Card’s $300 Annual Travel Credit

Changes Coming Soon to This Card’s $300 Annual Travel Credit

Million Mile SecretsChanges Coming Soon to This Card’s $300 Annual Travel CreditMillion Mile Secrets Team

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Have you been considering the Chase Sapphire Reserve?  You might want to apply soon if you’d hoped to make the most of the $300 annual travel credit.

Via Travel After Work, Chase has changed when you’re eligible for the annual $300 travel credit.  Starting May 21, 2017, new applicants will receive their $300 travel credit after each cardmember anniversary, instead of each calendar year.

Changes Coming Soon To This Cards 300 Annual Travel Credit
The Chase Sapphire Reserve $300 Annual Travel Credit Can Be Used for Nearly ANY Travel Purchase, From Hotels and Flights to Taxis and Uber!

I’ll explain how this will affect new cardholders!

Chase Sapphire Reserve $300 Travel Credit Changes

Link:   Chase Sapphire Reserve $300 Annual Travel Credit

Link:   Chase Sapphire Reserve Benefits

Link:   Chase Sapphire Reserve

The Chase Sapphire Reserve comes with a $300 annual travel credit which will automatically reimburse you for the first $300 you spend on travel each year.  Currently, you’ll receive a new travel credit each calendar year.  Chase considers the end of the year to be when your December statement closes.

So new cardmembers can get 2 travel credits (worth $600) before their second annual fee is due!  That means Chase effectively pays you $150 the first year you have the card ($450 annual fee – $300 travel credit upon application approval – second $300 travel credit after your December statement closes = $150 profit)!

Changes Coming Soon To This Cards 300 Annual Travel Credit
It’s No Wonder the Chase Sapphire Reserve Has Been so Popular, Because Folks Could Get TWO $300 Travel Credits in the First Year of Having the Card

But starting May 21, 2017, new applicants will receive the annual $300 credit after each cardmember year instead of each calendar year.  That means folks will NOT get 2 credits before their second annual fee is due.

The new terms state:

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.)

The change should NOT impact current cardholders or folks who are approved before May 21, 2017.

It’s Not Too Late!

If you’ve been meaning to apply for the Chase Sapphire Reserve, you still have a few days to sign-up and receive the travel credit under the old language (calendar year).  So you’ll get $600 in credit for the $450 annual fee.

If you apply on or after May 21, 2017, you’ll receive your second annual credit after your annual fee is due.

Changes Coming Soon To This Cards 300 Annual Travel Credit
If You Spend at Least $300 in Travel per Year, I Recommend Applying for the Chase Sapphire Reserve Before May 21, 2017!

Even with the changes, the Chase Sapphire Reserve is an excellent card.  It’s got a 50,000 Chase Ultimate Rewards point sign-up bonus after spending $4,000 in the first 3 months of opening your account.

And it’s loaded with great benefits, like:

The card comes with a $450 annual fee.  But because you get the $300 travel credit each year, you’re basically paying $150 for these benefits ($450 annual fee – $300 annual travel credit).  Read my full review of the Chase Sapphire Reserve.

Note:   If you’ve opened ~5+ credit cards from any bank in the past 24 months (except non-Chase business cards), it’s unlikely you’ll be approved for most Chase cards.

Bottom Line

The Chase Sapphire Reserve $300 annual travel credit benefit is changing for folks who apply on or after May 21, 2017.

New applicants will receive the annual credit each cardmember year instead of each calendar year.  That means folks who are new to the card will no longer be able to earn the $300 credit twice before their second annual fee!

The good news is that folks who already have the card will have their credit applied under the old rules.

If you’ve been sitting on the fence about applying for the Chase Sapphire Reserve, will this change affect your decision?

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Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel.
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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So for the folks who signed up before December in 2016, does that mean we get another the $300 credit twice in 2017?

For example:

– I signed up in October 2016. I used all $300 by December 2016.

– I got the $300 credit again January 2017 and used it all by March 2017

Would I get another $300 after October 2017? If so that would be awesome!