Reports Of $400 Retention Offers On The Chase Sapphire Reserve

Chase recently revamped the Chase Sapphire Reserve and increased the annual fee to $795.It hasn’t been well received, especially after the American Express Platinum revamp added significantly more value.It seems like Chase is feeling the pressure and possibly high cancellation rates are there are some (1,2) reports of cardholders receiving retention offers of a $400 statement credit with no spend required.

It’s always worth calling retention before cancelling a card, but in this case it might be worth more than one call as several people had no luck at first but eventually got offered a credit.

Hat tip to DDG

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by mycardopinions.
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Frequently Asked Questions

Certainly. Unlike personal loans, you won't face any penalties for settling your balance ahead of schedule. However, it's crucial to keep in mind that if your credit card comes with a 0% introductory offer, it's essential to clear your balance completely before the 0% promotion expires and interest charges apply.

However, you can include additional cardholders, each with their own card. While sharing the single credit limit, the primary cardholder remains responsible for settling the debt.

Potentially, yes. Credit card APRs are typically variable, allowing lenders to change rates, impacting your monthly payments. Additionally, be mindful that introductory 0% offers can lead to higher interest rates once they expire. So, it's wise to clear your balance before that happens, if feasible.

Indeed, credit builder cards exist for those with less-than-ideal credit scores. These cards offer lower credit limits (typically £150 to £1,200) and higher interest rates. Responsible use, including full and on-time payments, can gradually boost your creditworthiness, potentially opening doors to better credit card offers down the line.