The Chase Sapphire Reserve $300 Travel Credit is changing to once per card member year, as of May 21, 2017, per Reddit, and can be seen on the Chase Sapphire Reserve Rewards page in the terms, screenshot below.
Why does this matter? Currently, the $300 travel credit is based on a calendar year, or more precisely, your December billing cycle to the next year's December billing cycle. That enabled my husband and I to each receive $300 travel credit on our Chase Sapphire Reserve cards in 2016, and again in 2017, in addition to our 100K Ultimate Rewards sign up bonuses (the public signup bonus is now 50K).
While we plan to keep our cards, or at least one of them, if we were to cancel the card when the 2017 annual fee comes due, it would mean we'd have made $150 on the card, in addition to the 100K Ultimate Rewards points and other benefits, such as lounge access with Priority Pass Select. Those applying starting May 21, 2017, will not be able to make this extra $300 in travel credit off the card, since they will receive one $300 travel credit in their first membership year, not two.
For those who already have the card, will this change the time frame for the $300 annual credit from the December to December time frame to one based on when you signed up for the card? We'll have to wait and see what Chase announces. In the meantime, if you have the Chase Sapphire Reserve but aren't sure if you've received your $300 travel credit for this year, simply log on to your Chase Account, click on Ultimate Rewards and select the Chase Sapphire Reserve, if you have multiple Ultimate Rewards-linked cards. This will take you to your Chase Sapphire Reserve Rewards Dashboard, where on the right you'll see if you've received your $300 travel credit.
And if you don't yet have the Chase Sapphire Reserve but are eligible for it, you may want to apply by May 20, 2017 so that you can receive two $300 travel credits in your first year, one in 2017 and one in 2018.
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