About the leaked Chase Reserve “devaluation”
While I was “away from the office” the last few days, a leak surfaced about a devaluation to the Chase Sapphire Reserve effective August 26th. I’m not sure where the leaked intel was first shared, but when in doubt, I assume it was the Doc.
The three leaked changes are:
- Priority Pass access is now limited to the cardholder and two guests. $27 fee per additional guest applies.
- No more Price Protection
- Travel purchases that are rebated each year (the $300 yearly travel rebate) will no longer earn 3x points.
Of course, the Internet predictably exploded.
But these changes are small.
Will some families be hit by the lounge access limits? Definitely. And while I suppose they could have chosen to limit to 4 or 5 people per visit, the fact is that UNLIMITED guest access was unsustainable. It was costing Chase an arm and a leg and we already know they are considering a myriad of changes to the card (like the end of points pooling) to shore up the Reserve’s financials.
The end of Price Protection (find a lower price within 90 days up to $500 and Chase will cover it) will be a blow to those who currently bother to use it. I can’t say I ever have.
And the third change is one that I guess will save Chase a lot over all of its cardholders, but the difference to you? $13.50 a year worth of points.
The Chase Sapphire Reserve remains arguably the best travel card on the planet. I say arguably because it’s not definitive and other people may have other cards that suit their spend patterns better. But it sits at the front of my wallet despite a wallet VERY full of other cards.
I *really* hope they don’t end points pooling and any other changes they make in the meantime are fine by me.
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