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

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

Million Mile Secrets$300 Million Sign-Up “Bonus” With the Chase Sapphire ReserveMillion Mile Secrets Team

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Update:   One or more card offers in this post are no longer available.  Check our Hot Deals for the latest offers. 

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!

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Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred named "Best Credit Card for Flexible Travel Redemption" - Kiplinger's Personal Finance, June 2018
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 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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Hey Darius,

I had the Chase sapphire preferred which i downgraded to sapphire last year to avoid annual fees. I dont use it at all cause i have the ink plus as main card. When i saw the new offer on Sapphire reserve, i quickly closed my sapphire last week thinking that they wouldn’t issue the reserve if i already had a Sapphire. When do you think it’s safe to apply for the sapphire reserve and get the 100k bonus. I havent applied to a new card for a year now. thx

Pertaining to seeing higher rental rates for car reservations on chase website for national and avis cf to their own websites or other websites:

I wanted to add that Chase was absolutely no help and directed me to the respective car rental agencies (who were equally clueless after forwarding me to different departments).

In case this helps someone.

Million Mile Secrets

In general, I prefer renting through Costco travel which usually has the cheapest car rental rates. I’m guessing Thrifty is asking for a credit card so that you can skip the paperwork when you pick up the car. Here’s more on rental cars https://millionmilesecrets.com/2013/01/21/hotwire-rental-cars/

The card claims to give elite status for National And Avis Car rental but I tried picking 3 different pickup airports and the rental total I received was more than the total I received on their respective websites. Chase was unable to help. I didn’t see the ‘upto 25-30%’ discount on rentals. I ended up having to pick Thrifty for both reservations. Never used them so hopefully they will be OK. Hate that the second driver is not free :((

On that note, why does thrifty ask for a credit card when trying to apply for a loyalty account (been a while I did anything other than enterprise so don’t remember if they asked too).

Also is there a way to add that loyalty number to a chase car reservation?

Thank you for your help.

What he said is pretty spot on. They made a choice to get premium clients from their competitors with a compelling offer and I think it worked out well. I would be shocked if they had NOT reported an initial loss with the card. It will be interesting to see how long the 100k bonus sticks around.

Million Mile Secrets

I’m curious to see how long the card sticks around too!

Wow, do you see them reducing perks any time soon? I was going to wait until Feb/March so that way I get at least 2 calendar years for the $300 in travel.

Million Mile Secrets

I’m sure it will happen sometime, though I can’t predict exactly when.