Chase Sapphire Reserve Adds $100 Statement Credit Amidst Pandemic
$100 Statement Credit from Chase!
Chase has stepped up this week, offering Chase Sapphire Reserve cardholders a one time $100 statement credit. Chase says that this $100 statement credit will go towards offsetting the cost of its recently increased annual fee of $550. Essentially, targeted Chase Sapphire Reserve cardholders get to enjoy one more year of only paying $450 for their annual fee.
How to get your $100 Statement Credit
If you are wondering how to get your $100 statement credit, all you need to do is wait for a "Secure Message" from Chase Card Services within your Chase online account. The message will arrive in your inbox and read "Important: A $100 statement credit toward the annual fee on your Reserve credit card". Our secure message arrived on April 1, 2020. See screenshots below.
When you open the message, Chase explains that they recognize the difficult times for everyone and that they will be providing this $100 statement credit for upcoming annual fee renewals. The way the $100 statement credit works is that you will see your annual fee charge for $550 appear on your billing statement, which will be followed by a $100 statement credit. Again, this means that your annual fee for 2020 will only cost $450 upfront before you use your other benefits and statement credits. Chase makes sure they noted that for 2021, the $550 annual fee would continue.
Final Point
We are excited to see Chase setting the bar for other credit card companies and banks to provide their customers a little extra cushion during a time of need. Despite providing this $100 statement credit, Chase Sapphire Reserve cardholders still get to enjoy all the updated perks and additional benefits that the annual fee bump came with a few months ago. Cardholders will still enjoy a DoorDash DashPass membership, the $60 DoorDash statement credit for 2020, and 2021, as well as a Lyft Pink membership and 10x Ultimate Rewards points for Lyft Rides.
We find it absolutely incredible to see companies help their customers in unprecedented times like this. The Chase Sapphire Reserve proves it's one of those credit cards that every household needs in their wallet. Between the $100 statement credit this year, the easy to use $300 travel credit, and the $60 DoorDash credit, for 2020, cardholders will only have an overall effective annual fee of only $90. If you were considering downgrading or canceling your Chase Sapphire Reserve this year, the Points Passport highly recommends holding onto it until you use your credits for 2021, then revisiting your calculations for 2021. If you know of any Chase Sapphire Reserve cardholders, make sure you share this article with them! If this article helped you out or you have any questions, let us know by commenting below, DMing us on Instagram, or liking us on Facebook! Stay home and stay safe everyone!
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