The miles and points world has been all up in arms about finding a Chase Sapphire Reserve application over the past few weeks. Joe from As the Joe Flies joked on Twitter
I am not sure I have seen people worked up into more of a frenzy than for the CSR. Myself included
— Joe Cheung (@asthejoeflies) August 17, 2016
And…. I have to agree! Â The other day a rogue Chase Sapphire Reserve application showed up and I thought that the Internet was about to explode. Â That application only lasted live for about an hour or so and currently there is a working Chase Sapphire Reserve application.
There is still speculation on whether applying for the Chase Sapphire Reserve credit card will be subject to the Chase 5/24 rule or not. Â Since I am closer to 24/5 than 5/24, I am hoping that it is not :-).
Who should NOT fill out a Chase Sapphire Reserve application?
Let’s start with the easiest group of people to rule out, and it goes back to the basics of the miles and points game. Â If you are working on your credit score (i.e. it’s under 700), or you have any outstanding credit card debt, you should not apply for the Chase Sapphire Reserve card. Â Instead you should concentrate on raising your credit score and paying down your debt – any rewards that you get are going to be eaten by interest costs.
Why I’m filling out a Chase Sapphire Reserve application
Even though there isn’t a current Chase Sapphire Reserve application link, I am planning on applying for the Chase Sapphire Reserve card when it comes out next week.
Other things to think about before making a Chase Sapphire Reserve application
Although I personally am planning on applying for the Chase Sapphire Reserve credit card, I don’t think that it’s necessarily for everyone. Â While I am not as “scared” of the $450 annual fee as I once was, I feel like if you’re just starting out, there may be better cards for you.
Understanding the $300 travel credit on the Chase Sapphire Reserve credit card
One of the big features (besides the 100,000 Ultimate Rewards signup bonus!) is the fact that you get a $300 “travel credit” for each CALENDAR year. Â So most people have been selling that as the fact that yes, you have to pay a $450 annual fee when you make your Chase Sapphire Reserve application, but then you will get a $300 travel credit in 2016 as well as one in early 2017 (before your 2nd $450 annual fee posts). Â So the $600 in travel credits (in theory) more than offsets the $450 annual fee
The devil is in the details of course. Â We still don’t know exactly how the $300 Chase Sapphire Reserve travel credit will work. Â Initial indications are that it will be automatically applied to anything in the (fairly broad) “Travel” category. Â If that’s the case, to me at least that’s much more attractive than something the American Express Platinum $200 airline credit, which requires you to pick a specific airline each calendar year.
Making sure you’re organized enough to apply for the Chase Sapphire Reserve card
Just because the simple math says $600 in travel credits are more than the $450 annual fee doesn’t mean that it will actually work out that way. Â If you’re not organized enough, you run the risk of paying the $450 annual fee and not taking advantage of the Chase Sapphire Reserve travel credits.
Plus, it’s not like this is just $600 in free money – if you’re not already spending that much in travel, then this card is “making” you spend money on travel that you wouldn’t have otherwise spent. Â So in that case, you are still paying the $450 annual fee
All in all, I think that the Chase Sapphire Reserve card is a good one and I personally plan on making a Chase Sapphire Reserve application when it becomes available next week. Â If you are already familiar with miles and points, understand the risks and benefits and are organized in your finances, then I think it makes sense for you to apply for the Chase Sapphire Reserve card as well. You can compare the Chase Sapphire Reserve with other cards through this link – I do receive a commission if you apply for a card through this link
What about you? Â Will you be applying for the Chase Sapphire Reserve card?
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Dan Miller travels with his wife and 6 (SIX!) children. He loves to help families travel for free / cheap, especially larger families. If you are looking for help, drop him an email at 
As someone who currently does not have the CSP, should I apply for that card first, obtain the 50K point bonus and THEN apply for the CSR and obtain the 100K bonus for a total of 150K ultimate rewards points?
I want to make sure I’m going about this right, thanks!
Stan – if you don’t have either card, and you’re not anywhere near the Chase 5/24 rule, then it probably doesn’t matter a ton (assuming you’ve done your homework on both cards and signing up for cards in general). I would probably do a Chase Sapphire Reserve application first and wait for an increased bonus on the Chase Sapphire Preferred
If you already know you are at the 5/24 limit will you be applying regardless? Or waiting to see if others at the 5/24 limit report being approved?
I will probably wait for the first day or two and look at the datapoints. My next option will be trying to apply in-branch
You never said who should apply…
Amex Platinum feeling the heat, I’ve never been offered a $200 loyalty credit as quickly in my life as I just was on a call to Amex
Hi Steve,
What did you tell the rep at Amex to get the loyalty credit? Thanks!
Please change the title: it’s misleading. You never mention “who should do a Chase Sapphire Reserve application”.
Deductive Reasoning
The point is, these blogs seem to intentionally mislead people with their “click bait”, some worse than others. Maybe this title isn’t the worst, but do you not find it frustrating that this tactic is becoming more and more relevant? Some of us do, and we wish to call it out. The credibility of certain bloggers is non-existent due to these strategies and the slippery slope Boarding Area lives on by allowing “click-bait” is doing nothing but hurting their readers and, in turn, themselves.
I didn’t really find it misleading. I didn’t find it informative either though.
My point of view is that since people are clicking the link in the first place, they know what the CSR is and they know they probably want it (unless they can find a reason not to apply). The author states that people who have CC debt or a credit score under 700 should not apply.
To me this simply states If your credit score is over 700 and you have no credit card debt you are pretty safe (mentally and financially) to apply.
You pay a $450.00 fee in return for $2000.00 worth of UR points, regardless of the $300.00 travel comp and other benefits.
I will signup for the bonus alone, and only time will tell if I find an extra 1pt for Travel and Dining to outweigh the $355.00 different between the CSR and CSP annual fee. For me personally I doubt it will, so i will simply cancel the card before the 1 year mark.
If I had a Chase Sapphire Preferred 2+ years ago (with a big sign-up bonus) am I still eligible to get the 100,000 sign up bonus with CSR?
Yes, the Chase Sapphire Preferred and Chase Sapphire Reserve are different cards
Wife and I both have CSP cards and we are both authorized users on each. We were able to combine our points from the sign up bonus, do you think we could do the same thing with the reserve card?
Yes that would be consistent with how Ultimate Rewards work. You could also combine points from your CSP and CSR (and Freedom and Ink if you had either of those cards)
Yes, but I recommend that you drop each other from your CSP cards and do not add authorized users to your CSR application. Authorized users count towards the 5/24 rule.
I just applied and was approved for the CSP yesterday. I wasn’t aware of the CSR.
Do you think I can ask to be upgraded and take advantage of the benefits?
How long do you think the CSR signup offer will be available? Maybe I should close the CSP before the annual fee next year…
Darn it, I just applied and was approved for the CSP yesterday. I wasn’t aware of the CSR.
Do you think Chase will allow me to upgrade?
Most importantly, for how long do you think this offer will be available?
You won’t be able to upgrade for at least a year. Chase does not allow immediate upgrades because the CARD act prohibits annual fee increases in the first year of card membership. Even if it’s something you request. It just cannot be done. You have to wait or apply for the other card outright.
You stated that you should not apply if you have outstanding CC debt…I am currently at 11% utilization with over $25000 in total available credit, and my two scores that I track on a regular basis are 775 and 763, and my fico is 712, so I feel that I could have better than not chances of being approved….Can you clarify your statement about outstanding CC debt.
Thanks!
C
Generally speaking, I recommend not applying if you have outstanding CC debt not from a getting approved standpoint (you still might as you mention), but just because the awards you’ll get will be outweighed by the interest you pay on your outstanding balance.
Yes, you can manage it, but as a general rule, if you’re organized enough to do that, then you’d be better served just paying down your debt
Your situation may be different as obviously I don’t know you or anything about you 🙂
Thank you for your reply, I carry minimum balances on two chase cards that I’ve had open since 2002, to simply assist in the betterment of my overall scores…I use my current rewards card (Capital One Quick Silver 1.5% unlimited Cash Back) and pay it to zero every month, so no interest is accrued. My goal in getting this card is to switch my monthly spending to this, and get the higher benefits, again this will carry no balance as I only use it for bills and living expenses that are paid off in full when I pay my monthly bills…I just see tremendous value in the points and higher benefits if I can qualify….I’m assuming they are wanting very high credit scores.
I am definitely applying! We are moving to Sicily (from the Midwest) in October. and we have big plans to see everything we can while we’re there. I think 100,000 miles might help the cause just a bit ;-).
Btw, I just stumbled across your blog when I was searching for information on this card. You travel with six kids?! You are my hero. We only have two so far and can’t wait to take them places.
Heh – it’s not that bad. I mean we’re used to HAVING 6 kids, so it is not that much more work 🙂
Hello,
Thanks very much for your blog.
I am curious about your and anyone’s input on the following re denied application for the CSR card:
Denied due to 9/24. Credit score 765. Income 120K.
Already have CSP, Mileage Explorer, and Freedom by Chase.
Will drop to 4/24 by Jan 2017. Will re-apply for CSR then.
Question:
Any insight whether closing the CSP (with a 50K credit line) would be an advantage?
Thanks – Mark
Mark – I’m not sure anyone knows for sure but my guess would be that as long as you’re at 4/24 it wouldn’t matter a ton either way