Chase is offering some reprieve for qualifying customers in the midst of the COVID-19 outbreak.
Chase Sapphire Reserve® cardholders whose cards are up for renewal from July 1-Dec. 31, 2020, will pay a renewal annual fee of $450, that's $100 less than the typical annual fee.
Early on during the pandemic, Chase announced that existing Chase Sapphire Reserve® cardholders renewing their account could look forward to a $100 statement credit to help offset the cost of their annual fee.
At that time, Chase announced:
“We recognize this is a difficult time for everyone. As a way to help, we’re providing you a one-time $100 statement credit toward the 2020 $550 annual fee on your Reserve credit card. On an upcoming billing statement (based on your renewal date), you’ll see a $550 charge for the annual fee, followed by a $100 statement credit. We will continue to bill the $550 annual fee in 2021.
Because this credit only applies to open Reserve accounts, if you’ve closed your Reserve account or traded to another credit card before your renewal, you will not receive the $100 statement credit. We know COVID-19 has affected people in many different ways. Please check chase.com/StayConnected for updates and helpful ways to stay connected to your accounts."
The reduced renewal fee beginning July 1 will replace the statement credit offer.
The Chase Sapphire Reserve® offers new cardholders who spend $4,000 within the first three months 60,000 bonus points (worth $900 toward travel when redeemed through Chase Ultimate Rewards®), and bonus points on travel and dining purchases (including takeout!), as well as a number of other valuable perks. One notable perk: a complimentary DashPass subscription from DoorDash (must activate by 12/31/2021). This subscription provides free delivery and lower service fees from hundreds of restaurants on orders of $12 or more, and offers up to $120 in statement credits on DoorDash purchases through December 31, 2021.