What To Know
- If you frequently travel and spend a significant amount on dining and travel expenses, the increased rewards and exclusive benefits can quickly offset the higher annual fee.
- Upgrading your Chase Sapphire Preferred® Card to the Reserve® Card can unlock a world of travel rewards and exclusive benefits.
- Do I need to pay an upgrade fee to switch from the Sapphire Preferred® Card to the Reserve® Card.
Are you ready to unlock even more travel rewards and exclusive benefits? Upgrading your Chase Sapphire Preferred® Card to the Chase Sapphire Reserve® Card can elevate your travel experience to new heights. Here’s a comprehensive guide to help you make the switch seamlessly:
Eligibility Requirements
Before you proceed, it’s essential to ensure you meet the eligibility criteria for the Chase Sapphire Reserve® Card:
- Excellent credit score (typically 700 or higher)
- Proof of income
- No recent bankruptcies or foreclosures
Upgrade Process
Upgrading from the Sapphire Preferred® Card to the Reserve® Card is a straightforward process:
1. Call Chase Customer Service: Contact Chase at 1-800-935-9935 and request to upgrade your account.
2. Provide Information: You will need to provide your account number, personal information, and income details.
3. Credit Check: Chase will perform a soft credit check to verify your eligibility.
4. Approval: If approved, your Reserve® Card will be issued within 7-10 business days.
Upgrade Fee and Annual Fee
Upgrading to the Chase Sapphire Reserve® Card incurs a one-time upgrade fee of $50. Additionally, the Reserve® Card has an annual fee of $550, which is significantly higher than the Preferred® Card’s $95 annual fee.
Benefits of Upgrading
The elevated annual fee of the Chase Sapphire Reserve® Card comes with a host of exclusive benefits that far outweigh the cost:
- 3x Points on Travel and Dining: Earn 3x points on all travel and dining purchases, including airfare, hotels, restaurants, and more.
- Priority Pass Select Membership: Enjoy complimentary access to over 1,300 airport lounges worldwide.
- 10x Points on Lyft Rides: Earn 10x points on all Lyft rides, making everyday travel more rewarding.
- $300 Annual Travel Credit: Receive a $300 statement credit each year to cover travel-related expenses.
- Luxury Hotel Status: Receive automatic Platinum Elite status with The Ritz-Carlton Rewards and Marriott Bonvoy, granting access to exclusive perks and upgrades.
- No Foreign Transaction Fees: Make international purchases without incurring costly fees.
- Trip Delay and Baggage Loss Coverage: Get reimbursed for unexpected travel delays and lost or damaged luggage.
Is the Upgrade Worth It?
Whether upgrading to the Chase Sapphire Reserve® Card is worth it depends on your individual travel habits and spending patterns. If you frequently travel and spend a significant amount on dining and travel expenses, the increased rewards and exclusive benefits can quickly offset the higher annual fee. However, if you travel infrequently or do not maximize the card’s benefits, the Sapphire Preferred® Card may be a more cost-effective option.
Additional Considerations
Before upgrading, consider the following additional factors:
- Your Credit Score: Upgrading to a higher-tier credit card can impact your credit score, especially if you have a thin credit file.
- Annual Fee: The $550 annual fee is a substantial expense, so ensure you can comfortably afford it before upgrading.
- Alternative Options: There may be other travel credit cards that offer similar or better benefits for a lower annual fee.
Upgrade Your Travel Experience Today
Upgrading your Chase Sapphire Preferred® Card to the Reserve® Card can unlock a world of travel rewards and exclusive benefits. By following the steps outlined above and carefully considering the factors discussed, you can make an informed decision that elevates your travel experience to new heights.
What You Need to Learn
Q: What is the annual fee for the Chase Sapphire Reserve® Card?
A: The annual fee for the Chase Sapphire Reserve® Card is $550.
Q: Do I need to pay an upgrade fee to switch from the Sapphire Preferred® Card to the Reserve® Card?
A: Yes, there is a one-time upgrade fee of $50.
Q: What is the minimum credit score required to upgrade to the Chase Sapphire Reserve® Card?
A: While Chase does not disclose a specific minimum credit score, you will typically need a score of 700 or higher to qualify.
