Update 7/12/21: Seems many readers got a mailer indicating they’ll only be paying $450 for their August 1, 2021 renewal. My guess is the difference here is when you signed up with some people having the August 1st deadline and some having the September 1st deadline, but I’m not entirely clear.
Original Post 7/12/21:
Chase Sapphire Reserve had its $550 annual fee lowered to $450 at the beginning of the pandemic, and then – for over a year – they were charging $550 but also giving a $100 statement credit. However, for renewals from August 1st and onward, the full annual fee of $550 will be paid.
We speculated this based on what readers were hearing from Chase, and it’s now been confirmed by TPG that no statement credits or reductions will be offered for those with annual fee renewals on August 1st and onward. New signups were always paying the full $550.
Annual fee posted to account on 9/1 at $550. Have had the card since before the pandemic.
Checked the mailer in my drawer again…..it actually said “This change will go into effect on your next annual fee renewal date of 8/1/22.” So no increase in 2021 as someone posted on reddit that Chase was going to keep 450 renewals throughout 2021. Maybe you guys want to double check your mailer. Based on this the AF was correctly posted at 450 on 8/1.
I will be curious to see what it says in September if it changes to $550. My AF is in 10/1 and the mailer clearly says “This change will go into effect on your next annual fee renewal date of 10/1/21.”
Either way I proactively cancelled the CSR since I didn’t want to risk losing out on the 100K SUB for the CSP.
I am subject to 5/24 so no 100k SUP on CSP to me until October… But I did get the 100k for CSR in Jan 2017. it’s hard to predict future offers…If I knew I would not have gotten the 2 other cards in early 2021.
Received mailer that said AF to be increased to 550 but on August 1st 450 AF posted.
Don’t recall receiving a mailer about the AF situation one way or the other, but it posted for $450 (FOUR HUNDRED and FIFTY DOLLARS) on Aug 1, 2021.
I got this in this month’s july statement… 🙁
“We hope you enjoy all the benefits your card has to offer and we appreciate your business. Your annual membership fee in the amount of $550.00 will be billed on 09/01/2021.”
I paid the full annual fee(9/1) after I upgraded my preferred last year around late June and now again this year. My account annual anniversary is actually May. My annual benefits reset as of this current statement(late July-August), yet AF won’t hit till 9/1? I don’t follow how they billed the AF at all especially considering when I upgraded the card.
I opened it in June 2021 but $550 AF was charged.
Will they refund $100 or it is related just to renewals?
renewals only
Bound to happen at some point. Wish there were more credits.
I’ll be downgrading to a Freedom Flex and opening a CSP new (I’m both outside the 48 month window since I had the card from the beginning as well as well under 5/24). 100k SUB and better AF/benefits ratio on the CSP make it a no-brainer.
Maybe a stupid question. Can you upgrade CSP to CSR and then use travel credit and cancel before or shortly after annual fee hits to avoid paying it? CSP has been open for a year or more.
Theoretically you could, but that’s leading to a Chase shutdown. Would really need to wait a full year.
Downgraded today. They never mentioned a retention and didn’t even ask why. Had the card since the beginning