As a travel and spend has fallen dramatically in the past months, those with premium credit cards are having difficult getting enough value to help justify the fee. The Chase Reserve is one of the most popular travel credit cards and Chase has just announced that cardholders whose renewal dates fall between April 1, 2020 and July 1, 2020 are eligible for a $100 Annual Fee credit. Here’s the statement from Chase:
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.
I think this is a helpful offer and would encourage readers to take Chase up on this if they have a qualifying renewal date.