CSR $795 Annual Fee Rumor

Howzit everyone! It’s been a while… As I alluded to earlier this year, I’ve been trying to find better balance in my life. But, as promised, I’m not stopping entirely, and the new CSR $795 annual fee rumor compelled me to jump back on now to talk about how ludicrous this rumor is. 

Regular readers know that the Chase Sapphire Reserve is my favorite super-premium card. Even in my new era of minimal to no travel, I’m hesitant to give it up. After all, the benefits conferred to me by the card have continued to make it worth keeping. Though, how long that’ll last, we’ll see – especially with the new CSR $795 annual fee rumor flying around. At that level, the card would be unaffordable to me, no matter the benefits. But, what would the benefits be like under that new annual fee? They have to change, right? 

CSR $795 Annual Fee Benefits Changes

The Sapphire Reserve has seen adjustments to its benefits over the years, though its core perks have remained largely the same: 

• Earn 3x points on travel (including parking) and dining
• $300 annual travel credit
• 1:1 points transfer to airline and lodging programs
• $100 application fee credit for Global Entry or TSA Pre-Check
• Priority Pass Select membership (two guest limit)
• Access to Luxury Hotel & Resort Collection
• National Car Rental Emerald Club Executive Level membership + discounts on rentals
• Discounts on rentals with Avis Car Rental
• Primary Auto Rental Collision Damage Waiver – kicks in before your own insurance
• Trip Cancellation/Interruption Insurance
• Baggage Delay Insurance
• Trip Delay Reimbursement
• Roadside Assistance
• Lost Luggage Reimbursement
• Travel and Emergency Assistance
• Travel Accident Insurance
• Emergency Evacuation & Transportation
• Emergency Medical & Dental Benefit
• No Foreign Transaction Fee
• 50% more value when Ultimate Rewards points are redeemed directly for travel

The above is not an exhaustive list, but are, again, the sort of “core benefits” that have been there since the beginning. However, if the CSR $795 annual fee rumor is true, the new benefits will be quite different:

• 8x points on hotels and rental cars booked via Chase Travel (down from 10x)
• 8x points on flights booked via Chase Travel (up from 5x)
• 4x points on flights and hotels booked directly with the provider (up from 3x)
• 1x points on all other travel spend (down from 3x)
• $500 annual credits for The Edit spend (hotels) split to two $250 semi-annual benefits
• $300 annual dining credit via Sapphire Reserve Tables and StubHub credits, both split into two $150 semi-annual benefits
• $300 DoorDash credits split into $25/month credits
• $120 DashPass membership
• $250 annual Apple TV+ and Apple Music credit
• $120 Lyft credit at $10/month
• $120 Peleton credit at $10/month

In addition to the above, cardholders who spend $75,000 annually will receive the following:

• $500 Southwest credit
• Southwest A-List status
• IHG One Rewards Diamond status
• $250 The Shops credit 

My Take

Before I dive in, let me say… LMAO! Southwest credit and status for someone paying a $795 annual fee and has to spend $75,000 on the card?! Has Chase completely lost its mind? While I’m sure there are wealthy individuals who fly Southwest, I’m sure they’re in the minority. Plus, Chase does have better airline partners than that… United, for one. Hell, I’d even take BA status – assuming you get a high enough status to confer some sort of Oneworld benefits. 

At any rate, what the above looks like is Chase’s attempt to one-up American Express at its own game. The Platinum Card is already an atrocious coupon book, which made parting ways with that card so much easier for me. If this rumor is true, it won’t be difficult for me to walk away from this dumpster fire, too. 

That is the question, though, isn’t it? Is this CSR $795 annual fee rumor true? I’m inclined to think it’s false, as the above Southwest example makes little sense. Moreover, neutering the travel credit as it exists today would turn off a large portion of the cardholder base, though I’m guessing that’s also why the replacement credits are so much richer. 

Even still, if I look at what’s being offered in the rumors, I can see myself getting somewhere between $500 and $600 worth of utility from the card annually, which is great. That places my net carrying cost at $200/year, which is virtually what it is today, ignoring the value of the points earned. 

Now, the CSR $795 annual fee rumors aren’t clear on if the $300 annual travel credit will stick around. If it does, the card would remain a no-brainer for me, provided I can afford to front the cost of the annual fee. However, if it doesn’t, that makes it even more questionable. 

Final Thoughts

At this point, it’s hard to say if the CSR $795 annual fee rumor is true or not. Suffice to say, if it is true, I’m sure we’ll see a lot of angry cardholders. Personally, if this does turn out to be true, I’ll likely dump the card, as there’s no way I can pay that annual fee – even if I can recoup the costs. 

H/T: Doctor of Credit