AwardWallet receives compensation from advertising partners for links on the blog. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Here's our complete list of Advertisers.
It appears as though Chase will be cutting some benefits from the Chase Sapphire Reserve® (Rates & Fees). The move comes relatively quickly after Chase abolished Price and Returns protection across all its cards. According to a document obtained by Doctor of Credit, the changes will affect some of the 3X earning on travel, as well as the guest access policy for the complimentary Priority Pass membership.
Key Changes
- Cardholders will no longer earn 3X on purchases that qualify towards the $300 annual travel credit.
- Priority Pass access will now be limited to 2 guests per visit. Additional guests will be charged at $27 per person to the cardholder’s Sapphire Reserve card
- Price protection will be dropped
According to the document, customers will be notified about the upcoming changes in early May and will take effect August 26, 2018.
Our Take
The loss of 3X earning on spending that qualifies for travel statement credit is a small hit as it only represents the loss of 900 Ultimate Rewards. We're not sure if you'll earn 1x (300 points) or 0x on that spend. What could be a much bigger setback is the restriction on the Priority Pass guest access, especially if you are used to traveling with a large group. If this was one of the key features of the card for you, you might need to look at alternative cards that provide complimentary Priority Pass membership. Keep in mind, individual lounges impose limits on the number of guests you may bring, regardless of what your card will pay for/provide.
Source: Doctor of Credit
For rates and fees of the cards mentioned in this post, please visit the following links: Chase Sapphire Reserve® (Rates & Fees)
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
