pluto77

Chase Sapphire Reserve Increases Annual Fee

Discussion created by pluto77 on Jan 22, 2020
Latest reply on Jan 24, 2020 by bejacob

From $450 to $550.  Existing benefits remain the same, new Lyft benefits added.  

 

I signed up for the card three years ago, when they offered 100K sign up bonus.  I had no intention of keeping the card beyond the first year, but then a couple of things happened:

  • At the end of the year, I still hadn’t used my points.
  • I discovered that I was getting excellent value from the $450 annual fee
    • $300 rebate on airline (travel) spend, which essentially reduces the annual fee to $150
    • Really was getting my money’s worth from the remaining $150 by using Priority Pass lounges both domestic and international
    • I renewed my Global Entry for free during this period (the card issues a full GE fee rebate)

 

Beginning April 1, the annual fee increases to $550, along with the card offering 10X points/$ spend on Lyft plus one complimentary year of Lyft Pink.   I don’t even know what that is.  I’ve never used Lyft.

 

This took me by surprise, considering I still have my pile of points, and cancelling the card would require redeeming or transferring the points within 30 days of closure or else forfeiting all points. Fortunately, the annual fee increase doesn’t take effect until April 1, and since my renewal comes up before then (basically now), I’ve got a year to figure out what to do with my points and/or whether or not I find value in this new Lyft scheme.

 

For those who currently have the card, will you renew at $550?  Do you find value in the new Lyft offer?  If so, please explain.

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