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The Chase Sapphire Reserve updates have seemed to divide Sapphire Reserve customers. Chase added a DoorDash and Lyft Pink membership, and increased the annual fee to $550. But while some people like the update to the Chase Sapphire Reserve, here is where I think Chase went wrong on the update.
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30 comments
I really think Chase looooves people not wanting new Reserve. As you said, it’s been highly publicized that Chase has lost a lot of money with the Reserve. They don’t want you getting/having that card anymore.
Nailed it, once again Dustin! Was planning to upgrade from CSP to CSR this year. Can’t justify it with the AF increase, minimal added benefits and NO needed adjustments to multipliers.
Your globe is pretty awesome! I too wonder if I need a premium credit card. My friend is making a killing day trading with cash back from his Fidelity Card.
Multipliers and Hyatt gold status would have been great
Yet again… great analysis!
Hi Dustin! Where did you get the globe?
Everyone should just get Propel card lol
Good thing for chase and good thing for people is not the same thing
Im hoping they are listening and will update this card, a lot of ppl are complaining 🤞🏾🤞🏾🤞🏾
As you the CSR seems to have died. Now looking imminently between venture miles and Chase sapphire preferred .Was set on Chase but now, due to you , looking at Venture ? Have miles and pre retirement credits on Air France (Platinum for life) which I love. Missed out so far on Air Miles cards, just have a Bank card with a limited cash back. Your choice ? (liked and subscribed)
Chase sees the CSR as a catch all card. A large majority of people just don't want to get a bunch of cards. So giving people a little bit of tacos and burgers instead of going all taco or all burger pleases a lot of people. That's what Chase is going for.
They are also the king of cards because all these YouTube channels don't STFU about them. Every time one of those gimmicky "what's your favorite" card videos comes out, one of these off-brand travel hacking channels says the CSR is their go-to, and people who don't know any better fall for it. Perhaps the biggest culprit in this "sign up for this card with my links" scam is the Points Guy.
Yes. Bazooka fired.
Lastly, and probably most importantly, they inflate the value of their cards by giving them false scarcity with the 5/24 rule. 5/24 is talked about ad nauseam on every channel and website. So people freak and they have to decide between the CSR and the CSP. Instead of getting the CSP, because it's really the one that makes more sense, they're convinced they're going to actually squeeze value out of the priority pass, even though they're only flying once or twice a year, and likely won't visit a lounge anyway.
I hear you. It’s not as Amex beefy with status upgrades. But the simplicity of their credits still wins. Got that full door dash credit quick. Lyft also offers bonus points for Delta+Hilton honors. They could be just satisfying the credit gamers with constant changes
Speaking of if premium credit cards are worth it, please review the Navy Federal line of credit cards.
Your thumbnails have been killer the last two weeks!
Primarily a City dweller and mostly travel to big US Cities, and the new benefits do suck for some people (especially for people that live in suburbs and rural areas). However, I can easily take advantage of them, and I was already using these services. There is some uncertainty in these new benefits for the fact they are limited time promos, but it looks like Chase is planning to extend/add other partner services. I think for the people that "churn" through cards and don't spend much in one or two ecosystems, the CSR changes really do suck. It was so easy to justify the EAF before the changes.
As far as CSR Credits, Travel credit is still $300 value. I only value $50 out of $60 for the DoorDash credit, since food is slightly more expensive than ordering direct. For me, Priority Pass for me still has a ton of value since I heavily abuse the PP restaurant benefit (6-10+ times a year, i value minimum $100 per year). At the end, its a $100 effective AF for me, which is easy for me to earn via current multipliers. I already earned 32K UR this year within my Chase Trifecta (CSR, CF, CIC). 2/3's of my UR earning is with my 5x UR earning cards, and it really shows that the CSR is carried by the other no AF Chase cards that earn 5x UR.
Just got my CSR before the AF went up. Hoping they implement some decent changes before my year 1 is over. Otherwise my plan is to product switch to CFU when my year is up.
What you might not realize is JP Morgan is acting as a lead on the IPOs for both Lyft and doordash. I can virtually guarantee you with those benefits will end in two years. Now they may come prop up their brokerage arm with some more benefits, but this is a one-time deal to pump these two ipo's.
Yeah, even if you could use these new benefits it's an additional hoop to jump through and more annoying.
7:17 – 7:29 — a bit of a time warp there!!!! 🙂
I think Chase will not continue offering those added "benefits" and just keep the annual fee at $550. I mean the annual fee was basically $150. Who doesn't use the $300 travel credit? Very few I would imagine. I wouldn't be surprised if they keep the multipliers of 3x for a long time. But, that's just my opinion. Take care and happy travels Dustin!
I love that you're honest about the changes. I feel like TPG and some or the other YouTube channels don't represent the actual customer reaction to these updates.
I wish there was a travel card that was targeted to upper middle class people with normal spending patterns. Like…..why target the same audience that Amex has? They were perfectly competitive with their user friendly benefits, travel credit, and simple portal. Now, by alienating an entire demographic (most people), to prioritize a small group of millenials in urban settings, I feel like they went so wrong. I will be keeping my Chase Sapphire Preferred cuz I do use lyft, and i get the hilton and delta points on top of it. But definitely not upgrading to the CSR.
HOLDDDDD ONNNNN!!!
You're completely forgetting about pooling points from the chase freedom card to the CSR and CSP… that's were you're getting 5x points categories from. I know its only quarterly but it helps out a ton!!
I have a penfed 2% cash back card on all purchases with no annual fee. What does the safire reserve offer that my card doesnt?
$550 would have been acceptable if they increased the travel credit to $400 or worse case, kept $300 credit but added $100 in checked bag credits or upgrade/ in flight purchase credits.
I look at the end dates as transparency on Chase's side. Vert few partnerships are in perpetuity or even a long term deal (often in the 1-5 year range). Chase was just being honest by saying this is when our partnerships with them end. Yes, it is possible they give nothing to us after these partnerships end but that would be catastrophic for their business.
Terrible changes. I don’t use ride sharing much, nor doordash. I hate to have to downgrade the card but I’m not a fan at all. I love the fact that we have access to airport restaurants with priority pass and that added value, but unless you travel more frequently I just don’t see the value proposition any longer.
Discovered your channel and videos today. Great analysis and commentary – definitely will be subscribing! Keep up the good work
I thought long and hard about this. I'll be downgrading when the fee comes around. I need a visa with no foreign fee but have been switching to amex.
Sorry chase you did this to yourself
Is Chase looking for more high-wealth customers to use the CSR?