$300 Million Sign-Up “Bonus” With the Chase Sapphire Reserve

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Thanks to Million Mile Secrets reader Jeff, I’ve learned some interesting news about the Chase Sapphire Reserve card!

According to Chase’s CEO, Jamie Dimon, the Chase Sapphire Reserve is so popular, Chase has lost ~$300 million (yes, million!) on the card so far.  That’s quite the sign-up “bonus!”

So it really IS a great deal for consumers.  But we already knew that. 😉

300 Million Sign Up Bonus With The Chase Sapphire Reserve
The 100,000 Chase Ultimate Rewards Point Sign-Up Bonus From the Chase Sapphire Reserve Is More Than Enough Points for 2 Award Tickets From the US to Hawaii!

Here’s more about this news.

The Chase Sapphire Reserve Card Is a GREAT Deal!

Link:   Chase Sapphire Reserve

Lots of folks in the miles & points hobby already knew that the Chase Sapphire Reserve is an amazing deal.  Especially given recent negative changes announced on other premium cards like the Citi Prestige Card.

And because the 100,000 Chase Ultimate Rewards point sign-up bonus after meeting minimum spending requirements is worth $1,500+ in travel booked through the Chase Ultimate Rewards Travel Portal.  Or even more when you transfer points to airline and hotel partners like Hyatt or Southwest.

Plus, it comes with fantastic perks like:

And now, Chase has confirmed what we already knew by announcing that they’ve lost up to $300 million in profit this quarter.  Solely because of the overwhelming number of people who have signed-up for the Chase Sapphire Reserve card – even before the bank did any marketing for it!

300 Million Sign Up Bonus With The Chase Sapphire Reserve
Shopping Abroad This Holiday Season, Like Emily Did in Porto, Portugal? The Chase Sapphire Reserve Comes With a Long List of Travel and Shopping Benefits, Like Lounge Access and No Foreign Transaction Fees!

So if you haven’t already considered applying for the Sapphire Reserve, you can read my full review of the card here.  And if you’re looking for more great reasons to get this great travel card, check out these posts:

But don’t forget about Chase’s 5/24 rule, where if you’ve opened ~5 or more credit cards (from any bank) in the past 24 months (excluding certain business cards), you’re unlikely to get approved for most Chase cards.

And check out this post about what to do if you can’t get the Chase Sapphire Reserve.

Bottom Line

While folks have been enjoying the amazing sign-up bonus and perks from the Chase Sapphire Reserve card, Chase has paid a price!  They’ll lose up to ~$300 million in profit this quarter thanks to overwhelming demand for the card.

Given the popularity of the Chase Sapphire Reserve card, maybe Chase will introduce even more travel cards with great sign-up bonuses and perks?  Here’s hoping!

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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