The 100K Chase Sapphire Reserve bonus offer will end January 11, so just 1 week more to apply if you've been on the fence about the card. I'm assuming that the new offer, for applications on January 12 and after, will be a lower offer, since Chase has taken an earnings hit with the card, which reduced profit by $200-$300 million the Q4 2016, per CEO Jamie Dimon, according to this Bloomberg article.
What are 100,000 Ultimate Rewards Points Worth?
The reason Chase is losing money initially with the 100K bonus offer can be your gain. Even if you redeem the Ultimate Rewards points directly with Chase, towards airfare, the points are worth 1.5 cents each, or $1500. If you have very little flexibility and must fly certain dates and/or routes, redeeming the points with Chase could make sense.
That said, the 100,000 bonus points could be worth far more, if you have considerably flexibility. That's because Ultimate Rewards points can be transferred to United MileagePlus, Singapore KrisFlyer, Air France / KLM Flying Blue, British Airways Avios, Korean Air Sky Pass, Virgin Atlantic Flying Club, Southwest Rapid Rewards, Hyatt Gold Passport, Marriott Rewards, Ritz-Carlton Rewards, and IHG Rewards.
We typically transfer to Singapore KrisFlyer, to redeem for Singapore Suites, Singapore First Class and Singapore Business Class, or even other Star Alliance partners; we recently redeemed for ANA First Class awards, for example. In the case of first class awards, Ultimate Rewards points can be worth 10 cents or more per point, given the high prices for paid first class tickets. While you could argue that few people would pay the retail rate for first class, we would at least pay for business class tickets, so even for our own valuation we usually end up redeeming miles and points at 5 cents or more per point, which would yield a value of $5000 for 100,000 Ultimate Rewards points. That said, a more typical valuation of Ultimate Rewards points would be 2 cents per point, or $2000.
What Are the Other Chase Sapphire Reserve Benefits?
In addition to the 100,000 Ultimate Rewards bonus points, other key features are:
- $300 travel credit per December to December billing cycle (this makes the card effectively a $150 per year card: $450 annual fee – $300 travel credit per year = $150)
- 3X (triple points!) on all travel and dining spend
- Up to $100 Global Entry or TSA PreCheck reimbursement
- Priority Pass Select lounge access for you and your travel companions (see Chase Sapphire Reserve Priority Pass Select Lounge Access and FAQ)
What Will the Chase Sapphire Reserve Bonus Be Reduced To?
Rumor has it that the Chase Sapphire Reserve signup bonus will be reduced to 50,000 Ultimate Rewards points. Naturally, if you can, you'll want to apply by January 11 to try to earn the higher 100,000 signup bonus.
What If I'm Over 5/24?
I recommend checking at your local Chase branch to see if you're pre-approved for the card. See How to Get Approved for the 100K Chase Sapphire Reserve If You're over 5/24.
If you don't have the Chase Sapphire Reserve yet, do you plan to apply by Jan. 11 to earn the 100K bonus?
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