Every bank has a range of credit cards. These vary from co-branded cards to the banks own reward cards. This is not a hard and fast rule, but unless you spend every cent on a co-branded card, I don’t see the value. Instead of putting all my eggs in one basket I rather have a point agnostic reward system. Think American Express Membership Rewards, Citi ThankYou Points, Chase Ultimate Rewards. When you accumulate points with these currencies it gives you more flexibility when you want to redeem those points. Instead of being stuck with all those United miles, now you can accumulate Chase Ultimate Rewards and when the time is right transfer those points to United or Marriott or Hyatt or Southwest (see where i’m going?).
Most banks have their “high end” reward card. American Express has the Platinum card, and Citi has the Prestige card. Both offer numerous benefits such as
- Airline fee credits
- Airport lounge access
- Hotel discounts
However, Chase never had a high end Ultimate Rewards card available to the public (the Chase Palladium card is offered to people who have a lot of money with Chase). Well, things may be changing soon.
Rumor has it (via this FlyerTalk thread) that Chase is launching a high end Ultimate Rewards card, dubbed Chase Sapphire Reserve. If this card is in fact competing with American Express Platinum and Citi Prestige we would expect to see
- Annual Fee in the 300-400 range
- United Club access (not a full membership as this is offered by the United Club card)
- 200-300 in airline credits (verdict still out on whether this will count for airfare or just incidentals)
- Priority Pass lounge access
- Some type of hotel benefits
- Discounts/perks on bookings
- Complimentary Hyatt/Marriott/IHG status
Currently the Chase Sapphire Preferred card earns 2x Ultimate Rewards on travel. The thinking here is that this higher end card would earn at least 3x in this category. Reports also indicate that there can be a 100k Ultimate Reward point sign on bonus which would be amazing.
I’m obviously very excited as I been looking for Chase to offer a high end card for some time. If this card does in fact offer United Club access, I can cancel my current membership and get it bundled with this card along with any other benefits as well.