One of the greatest benefits of the Chase Sapphire Reserve is its super flexible travel statement credit. So, news that Chase is changing the CSR travel credit can be very disconcerting. Thankfully, the change occurring isn’t to the value of the credit or what qualifies for it.
The annual travel credit is one of the benefits that sets the Chase Sapphire Reserve apart from competing cards, in my opinion. You see, unlike the American Express Platinum, you aren’t chained into a coupon scheme. Likewise, it’s valid on any “travel” purchase you make on your card, unlike the Capital One Venture X, which requires you to make your purchase through their travel portal.
That flexibility is a big leg up, in my opinion, and one I wouldn’t want to see go away. Especially since other cards can now rival its earning power, even in Chase’s own ecosystem. As such, it’s concerning when you hear that Chase is changing the CSR travel credit. But, as I mentioned earlier, this change doesn’t impact its value or how it’s used. Rather, it’s a change to when you receive the credit, which may be very disruptive for some.
Chase is Changing the CSR Travel Credit
Since its inception, the Chase Sapphire Reserve awarded its $300 travel credit on a calendar year basis. This meant that new cardholders could enjoy back-to-back credits if they applied in the later part of the year. However, that’s all changing next year, as Chase switches to a cardholder anniversary scheme. Moreover, as I alluded to earlier, depending on when your cardholder anniversary is, the switchover could cause a significant gap between your current credit and when you receive your next one.
Per the email Chase sent me last week, all cardholders will have their travel credit reset in December. Any credit not used by December 30, 2024, will automatically be credited to your account. I take this as they’ll provide you the credit regardless of the type of purchases you have, though it’ll be interesting to see if they’ll allow your balance to go negative in awarding the credit – I’m sure they’ll have to.
Following the December 30 credit, cardholders will receive their next travel credit reset on their cardholder anniversary. For me, that means I won’t see my credit reset until sometime in September. That’s a full nine months in which I won’t be able to use the credit. Thereafter, I’ll continue to receive my annual travel statement credit in September without a gap.
Final Thoughts
There you have it. Chase is changing the CSR travel credit converting the renewal date from calendar year to cardholder anniversary. To see the new disclosure for the updated Sapphire Reserve travel credit, you can visit chase.com/MyCardBenefits and log in to your account. And if you did receive the email, it should provide you with the exact date on which your travel credit will renew from here on out.
For me personally, nine months is a long time to wait to have the credit renew. I guess the saving grace in all of this is that I really have no travel plans for next year, so it’s not like it really matters for me. At least, not for now. But even pre-2023, this might not have been too bad for me, especially since I tend to travel in fall/winter. After all, being from Hawai’i, I find it more interesting to experience other seasons when traveling to other places. Plus, fall is typically mushroom and truffle season 😉
Anyway, how do you all feel about how Chase is changing the CSR travel credit?