Home > Credit Cards > The New Chase Sapphire Reserve Is So Popular, They Ran Out of Cards

Comments 3 Comments

A few weeks ago, the Chase Sapphire Reserve credit card (and its lucrative sign-on bonus) debuted and it looks like consumers took notice, as the bank reportedly ran out of the cards due to high demand.

Chase spokesperson Lauren Francis said that, for now, customers will receive a plastic version of the card and the “hand-crafted embedded metal cards will be on [their] way for customers to use as soon as they are available.”

Francis said “tens of thousands of applications” for the card were approved in the first two days following its release, with the majority of the cards going to millennials, which she said “significantly exceeded our strongest expectations.”

What the Chase Sapphire Reserve Card Offers

The Chase Sapphire Reserve offers a lot of appealing perks, so it’s no wonder consumers are flocking toward it. Cardholders get three points per dollar on travel and dining and one point per dollar on all other qualifying purchases, but there’s more than that. Cardholders also get a $300 annual travel credit, an application fee credit of up to $100 to cover the TSA Pre✓or Global Entry fees, and 100,000 bonus points once they spend $4,000 in the first three months after opening an account. And, if you’re wondering what those points add up to, it’s a whopping $1,500 when you redeem through the Chase Ultimate Rewards travel portal. There are even some airport benefits that come with the card, like lounge access and car rental privileges.

Just remember, all these rewards come at a price — a $450 annual fee, to be specific. And if you don’t have a habit of paying your statements in full each month (which is a best practice with any rewards credit card), you’ll likely lose most of the monetary benefits of this card to hefty interest fees. Based on your creditworthiness, you’ll have an annual percentage rate (APR) of 16.24% to 23.24% and can face added fees if you’re late paying your bill — $15 if you have a balance less than $100, $27 if the balance is $100 to $249 and $37 if the balance is $250 or more.

Interested in a Travel Rewards Credit Card?

If your eyes are wide with interest at all these great benefits, we don’t blame you. But, as we mentioned earlier, these cards are typically not right for people who can’t pay their statements in full each month. And as you consider which credit card may be right for you, it’s a good idea to make sure you can cover the annual fees and any sign-on bonus spending threshold and that they’re worth the expense.

No matter which card you ultimately decide is right for you, it’s a good idea to review your credit before applying. Cards that offer rewards — whether for travel, cash back, or something else — typically require a good credit score and you don’t really want a hard inquiry on your credit report for a card you’ll ultimately be rejected for. You can see where your credit currently stands by viewing an overview of your credit reports for free, updated each month, on Credit.com.

At publishing time, Chase products are offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for these cards. However, this relationship does not result in any preferential editorial treatment.

Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

Image: Martin Dimitrov

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

  • BobbyBattista

    This card makes sense if you don’t already have the Sapphire Preferred and something like the Amex Platinum. If you do, the perks overlap too much, and you’d have to find a way to break even on the $450 annual fee after you make your sign on bonus in year one. I’d consider downgrading to a card without the annual fee after year one, like the Freedom Unlimited. If you do want to keep it moving forwards, I’m interested in hearing ideas on how to break even on the annual fee. I’ve already worked out easy ways to break even on the Amex Platinum, and I love having it – if anyone is interested let me know!

    • bobdon

      Hey Bobby – Can you please share ‘easy’ ways to break even on the Amex Plat. I’m contemplating having the Amex Plat. over the CSR. Many Thanks !

      • BobbyBattista

        Send me a DM somewhere, happy to help

Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.

Hello, Reader!

Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

Our Reporting

We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.

Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.

Our Owners

Credit.com is owned by Progrexion Holdings Inc. which is the owner and administrator of a number of business related to credit and credit repair, including CreditRepair.com, and eFolks. In addition, Progrexion also provides services to Lexington Law Firm as a third party provider. Despite being owned by Progrexion, it is not the role of the Credit.com editorial team to advocate the use of the company’s other services. In articles, reporters may mention credit repair as an option, for example, but we’ll also be sure to note the various alternatives to that service. Furthermore, you may see ads for credit repair services on Credit.com, but the editorial team isn’t responsible for the creation or implementation of those ads, anymore than reporters for the New York Times or Washington Post are responsible for the ads on their sites.

Your Stories

Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

Thanks for stopping by.

- The Credit.com Editorial Team