Update: I believe 5/24 is fully applicable to this card and I cannot recommend applying if you are over 5/24. Your best bet is to go to a branch and see if you are pre-approved. That seems to be working to get around 5/24.
A real quick post to highlight that a public link is now live for the 100,000 point signup bonus on the Chase Sapphire Reserve. Here is a direct link to the offer.
The big news is whether this card is subject to the 5/24 rule and right now the results are inconclusive. There are over 3,300 comments in this thread on Reddit so it is quite a task to go through but there are data points for both approvals and denials for those who are in violation of the 5/24 rule. As such, it is difficult to say for sure at this point whether this card is subject to 5/24 but I am leaning towards yes. There is speculation that the approvals came from people who might have been prequalified and thus got around 5/24. I think in the coming hours or days we will have a lot more clarity on whether the 5/24 rule is in effect but the more recent update seem to indicate 5/24 is in effect.
In my post yesterday on the hype of this card, I mentioned how this offer was available yesterday in branches though it was obviously tough to find a branch open on Sunday. Someone on Reddit created a survey and asked those who applied to provide data to determine any trends for those who were approved. I frankly think the survey isn’t very clear or easy to follow but here it is if you want to go through the data.
I fully expect Chase to be slammed with applications so if you get a pending decision, it might take a while to get a decision. You could call reconsideration and probably get a quicker decision though if 5/24 is the reason for denial, there is no amount of pleading you can do to get an approval.
Good luck to all applying today! Please report any success or failures in the comments including whether you were over 5/24 or not.
I’ve been doing this for a few years now and I’ve never see anything like the anticipation/suspense/desire/worry/excitement/nervousness etc.. about the Chase Sapphire Reserve being released today. I know everyone is antsy to get a 100k signup bonus especially if you are over 5/24 since applying earlier is probably the best chance to get approved if the 5/24 rules haven’t made it to the card yet. However, some people are taking this a bit too far thinking they need to apply the moment the card is available.
I mean look at this thread on Reddit Churning – since yesterday evening, there have been over 1,300 comments and there are currently over 1,330 users on that site. If you don’t follow the site, those number are nutty as people are losing their damn mind about this card. People are literally refreshing pages that might contain the application link by guessing the URL based on the format of other Chase cards. Some stayed up all night refreshing links or that thread. Some are calling Chase 6 + times this morning. One user even posted about they have a script that will automatically tell him when the card is available – are you freaking kidding me?
My advice? You don’t need to apply the instant it is available. Ideally I’d apply in the few hours or within the day it is available but by then you will see other bloggers post about it or users mention it on Twitter so relax. Besides, the few datapoints coming in seem to indicate the online app won’t be available till tomorrow and only in-branch applications are accepted today (Yes there are a handful of branches open today. No I wouldn’t go out of my way to visit one).
As an FYI, I would guess the big blogs (TPG, MMS, VFTW, OMAAT etc..) won’t have their affiliate links until later in the day tomorrow so I recommend following Doctor of Credit or my Twitter to get notice when a public (i.e. non-affiliate) link is live if you want to apply right away. If you need a refresher, here are my thoughts on the card and applying for it.
Update (8/21): The Latest on the Chase Sapphire Reserve
If you’ve read any points/miles blog or follow reddit churning, you know the big news from this week. On Monday for about an hour there was a live application link to the new Chase Sapphire Reserve with a 100,000 point signup bonus which wasn’t suppose to be available until August 21st. Well, we think it had a bonus offer because the landing page didn’t state a bonus but then another link was found with the bonus language that linked back to the first page – either way if you applied and were approved on Monday I think its very, very likely you will earn 100,000 points. However, the bigger news was many people were approved for the card despite being over Chase’s 5/24 rule. While it’s still uncertain exactly how everything will play out once the card is publicly available for good, I wanted to share my thoughts on everything Sapphire Reserve related.
As a refresher, here is what makes the card exciting for many even with a $450 annual fee (not waived the first year):
- 100,000 Point Signup Bonus for spending $4,000 in 3 months (min. $1,500 value)
- $300 Annual Travel Credit – Valid towards the direct purchase of ANY airfare, hotel, taxi or anything that codes as travel (no hacks necessary to buy gift cards or being restricted to one airline). Since this is a calendar year based benefit, you can take advantage of twice in the first year of card membership ($600 value)
- Earn 3x points per dollar spent on travel & dining purchases
- Redeem Chase Ultimate Rewards Points at a value of 1.5 cents for travel through the Ultimate Rewards Portal
- Priority Pass Select Membership for Lounge Access
- Global Entry/TSA PreCheck Credit
- Other perks such as this being a Visa Infinite Card (though no $100 airfare discount)
There is no doubt that for many of us in the travel hacking community this card is exciting and one that many would ultimately like to get. However the one huge issue/question mark is whether this card will be subject to Chase’s 5/24 rule – in that if you have 5 or more credit card accounts opened in the past 24 months (including if you were added as an authorized user), you would not be able to get this card.
Here are my various thoughts and opinions about the card, applying for it, the accidental links on Monday, etc..
- Obviously it was a mistake that the links to apply for the card were made public for an hour or so on Monday. So much so, that Chase scrambled to “officially announced the card” via their Twitter account by linking to The Points Guy’s post on the card. That’s right Chase announced their flagship credit card product by linking to a blog instead of putting it up on their own website – this tells me they were not prepared for this.
- And as such, that is why people who were over 5/24 were able to get the card on Monday – Chase didn’t have all the controls in place. I consider these people very, very lucky.
- There is pure speculation but I have a feeling that when the card is supposedly ready on Sunday for a public launch, Chase will prevent those in excess of 5/24 from getting this card. I do not think there will be a small window of time for us like with the Chase Freedom Unlimited.
- I think Chase is quite aware of “our community” (I mean they obviously do some serious business with TPG) and knows there will incredible demand from travel hackers for this card. That is not their target market and thus, I think they will restrict it from many churners via 5/24. I hope I’m wrong on this.
- That said, I think I am going to apply for the card as soon as the link is available just in case I’m wrong. The rewards are strong enough for me to burn a credit inquiry even if it <5% I actually get the card as I am currently at 20 cards in the past 24 months (and that’s not including authorized users which I should count). Applying for the card when it first comes out is probably the best chance to get this card if you are over 5/24.
- To give you the best chance of getting by 5/24 if its not fully in place when the card launches, you will most likely want an instant approval. I plan to reduce my credit lines at Chase by at least $10k and preferably closer to $15k to give myself the best shot at an instant approval. You do not want eyes on this application and you do not want to call reconsideration for this card.
- That said, there is risk with this approach as I could be giving up 15k of my credit line (and hurting my credit utilization ratio which hurts my credit score) for no gain. I’m ok with this risk – think about if you are.
- If you are a Chase Private Client, apply directly through your banker. It is thought 5/24 doesn’t apply to CPC customers.
- Going back to the above, I full expect Chase to be absolutely slammed with applications for this card on the day it is publicly released. I’ve never seen so much hype about a new card and seeing threads like this only reinforces that. I have no idea what kind of impact this will have but it can’t be good. It wouldn’t shock me to see some benefits cut after a year or so with this card on the market.
- Lastly, you can expect some ridiculous pumping on the blogs as I’m sure the commissions on this card will be incredible. I’d expect it to be over $300 per conversion (using this list as a very rough metric) that your bloggers will earn if you use their links. As always, think carefully about what link you use.
In closing, I want to stress a lot of the above is simply my opinion on what could happen and I have absolutely no inside knowledge of what will actually happen. I’d love nothing more to be wrong on much of this. Good luck to those going for this card!
It’s been a few day since the “official” signup bonus decreased on the Citi Prestige to 40,000 points after $4,000 in spend according to some of your favorite credit card pumping bloggers. However, a link has been floating around that still works for the old signup bonus which is undeniably better at 50,000 points for $3,000 in spend. Here is the direct link to the 50,000 point signup bonus which based on recent history will not last much longer.
It’s been a while since I had to say but please think of what blogs you follow and if any of them failed to mention this offer was still around while blasting their commission-paying 40k link. Any blogger worth his while knows about this link and should have at least mentioned it in their posts on the upcoming changes to the Prestige card. If they didn’t mention this better offer well… I’ll let you draw your own conclu$ion$.
In short, don’t be this guy.
A really quick post to highlight you can earn 1,000 bonus miles for shopping through Singapore Airlines shopping portal, KrisFlyer Spree. To earn the 1,000 bonus miles you must spend $120 in one transaction from today through July 26.
I’m only highlighting this deal as you could effectively earn 8.3x per dollar spent if you spend exactly $120 which is a fairly good return on top of any miles you’d normally earn by shopping through a portal.
A quick tip: After going to the homepage, change the region on top to USA. This will allow you to see all the US stores that participate including Macy’s, Bloomingdales, Apple, etc…