The Chase Sapphire Reserve has been one of the most popular credit cards in awhile (read more about the card here). While it comes with a $450 annual fee, the huge perk of the card is that you’ll receive a $300 statement credit for travel related purchases per year. The confusing part is that is doesn’t 100% run on a calendar year. To receive the $300 statement credit for 2016 you must make the travel related purchase by your December statement close date. So if your statement typically closes on the 10th of the month, for example, you have until December 10, 2016 to make your purchase. A purchase after that will get clumped into 2017 even if it happens in 2016..
- Chase Sapphire Reserve: Earn 100,000 Chase Ultimate Reward points after you spend $4,000 on the card within the first four months.
My husband and I just recently applied for the card. I applied on Saturday while my husband applied on Sunday. My application required a call to the reconsideration line to move some credit around while this was automatically approved. On Monday, we both called to inquire about moving our statement close date. Both of our dates had the first statement closing at some point in January. We both requested to move the date for it to close in December. While I was able to do it with no problem, my husband did have to speak to a supervisor and get their approval. The supervisor then did it with no issue. Note: This worked when I applied on December 3rd. If you are reading this now, there is a chance it might be too late to get your date changed to December, but you never know. Read the comments below to see if there are any recent reader success stories/failures.
As I mentioned above, now that we both have a December 2016 statement close date, this will allow us to snag the $300 travel related credit just in time. We will then be able to receive another $300 credit for 2017 shortly there after. This means if you pay the $450 annual fee now, you’ll are eligible to receive two $300 statement credits within the year, thus giving you $600 in statement credits and coming out $150 ahead. Now, it might also be possible to get the $300 statement credit three times within the first year of your card! Currently, Chase allows you to cancel your card 60 after the annual fee hits the card and get the annual fee reimbursed. So let’s say you apply for the card now and in December 2017 the 2nd years annual fee of $450 hits your card. In January 2018 you are eligible for another $300 statement credit for travel related purchases. But, after that credit hits your card and if you are within the 60 day period, you might be able to cancel the card and have the $450 credit refunded. Chase could always change this policy, so I wouldn’t bank on this, but it is a good chance. Read this post to learn how the $300 statement credit work and what classifies as “travel”: How Does the Chase Sapphire Reserve $300 Travel Credit Work
Keep in mind that the above was mine and my husbands experience. Your experience might differ. Even if you are not able to get the statement close date moved, you’ll still be eligible for the $300 travel credit in 2017 and 2018 since the 2018 would include some timeframe of December 2017. So you will not be at a loss if you are not able to move the date, but we both had a positive experience and that was just one day ago!
Feel free to leave your experience below for other readers.