We have a new Chase Ultimate Rewards credit card on our hands and it may end up being the best in the current lineup and possibly the best travel credit card on the market. Several rumors have stated that Chase is set to unveil the Chase Sapphire Reserve credit card on August 21, 2016. The Sapphire Reserve card is going to be a top tier credit card competing directly with the American Express Platinum card  and the Citi Prestige Card among others. So far the rumors look promising and I am very excited that Chase is finally offering an ultimate rewards credit card that competes in certain spending categories.

The following information about the Chase Sapphire Reserve card is confirmed.

  • $450 Annual Fee: The annual fee is comparable to the Citi Prestige and the American Express Platinum cards.
  • $300 Travel Credit: Each year, cardmembers will receive a $300 automatic reimbursement for travel expenses. At this point, it appears cardmembers will automatically receive the travel credit without having to pick an airline like the American Express Platinum Card. Also, like the Citi Prestige, it appears this credit will be for ALL travel purchases, including airfare.
  • 100K Ultimate Reward Sign-Up Bonus: New applicants will generously be given 100,000 ultimate rewards points when spending $4,000 in the first 3 months of opening the card. Also great news, Chase does not appear to be sticking to the 5/24 application rule for card applications.
  • 3x points of Travel & Dining: The Sapphire Reserve card will earn 3x points on all travel and dining purchases worldwide. This is much better than what is offered from the American Express Platinum card and dining is only 2x with the Citi Prestige. For those that travel frequently, this may end up being the perfect addition to any wallet.
  • Priority Pass Select Membership: We know that the card will come with complimentary Priority Pass Membership, but it is not known if this will include the generous guest policy offered by the Citi Prestige card.
  • 50% Bonus when redeeming through the Chase UR Travel Portal: Chase Sapphire Reserve card members will be able to use points at a rate of 1.5 points / $1.00. Ex. A $1,000 flight booked through the UR portal will only cost 67,000 points.
  • Global Entry / TSA PreCheck Credit: Similar to the Citi Prestige and American Express Platinum cards, the Chase Sapphire Reserve card will offer a credit for Global Entry or TSA PreCheck application fees up to $100.

The Chase Sapphire Reserve appears to be an excellent top tier credit card. The signup bonus and effective annual fee of just $150 make it a great card to sign up for even if you do not plan to keep the card in the long run. Personally, the 3x points on travel and dining make this card extremely appealing on top of the lucrative sign-up bonus. I just was approved for the Chase Sapphire Preferred card, but will definitely sign up for the Chase Sapphire Reserve card as well! Also, the timing of this release is fantastic given all of the negative changes associated with the Citi Prestige card in the past few weeks.

Update: Chase officially announces the Chase Sapphire Reserve Card via ThePointsGuy.