Chase summertime bonuses on Sapphire Reserve and Preferred

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Chase today announced some awesome summer bonuses for the Chase Sapphire Reserve and Preferred cards. These are some great enhancements that particularly enhance the value of the CSR over the coming months.

The Deal

Chase has added temporary enhancements to both the Sapphire Reserve and Sapphire Preferred cards as follows.

Chase Sapphire Reserve

  • 5x on Instacart on up to $3,000 in purchases from July 1 to September 30, 2020
  • Up to $50 in statement credits toward Instacart Express annual ($99/yr) or monthly ($9.99/mo) membership
  • 5x at gas stations on up to $1500 in spend from July 1 to September 30th, 2020
  • 10x on select streaming like Netflix and Spotify on up to $1500 between July 1 and September 30th

Chase Sapphire Preferred

  • 3x on Instacart on up to $3,000 in purchases from July 1 to September 30, 2020
  • Up to $50 in statement credits toward Instacart Express annual ($99/yr) or monthly ($9.99/mo) membership
  • 3x at gas stations on up to $1500 in spend from July 1 to September 30th, 2020
  • 5x on select streaming like Netflix and Spotify on up to $1500 between July 1 and September 30th

Quick Thoughts

This is a nice little addition of perks for the next few months. While I think the peak popularity of Instacart may have passed at this point, I’m sure that it has become enough of a habit for some readers as to be very happy with the chance to earn 5x Chase points. The Instacart Express Membership credit could also be worthwhile for those who were on the fence about purchasing it. It isn’t available in my home town, so I probably won’t be able to take advantage of this myself.

I’ll certainly be thinking about filling my tank with the Sapphire Reserve for the next couple of months at 5x on up to $1500 in spend. That definitely makes the CSR the best choice for gas spend in my card portfolio — and don’t forget that both gas station and grocery store spend can trigger the $300 travel credit and still earn points. That said, I’m more excited about this because I have a second child on the way and was planning to set up a 529 plan. I can get Gift of College cards at a regional gas station here in New York, so I’ll be happy to pick up 5x on the start of Baby Rey 2’s college fund.

I never get particularly excited about streaming bonuses since streaming purchases are such an inconsequential amount of spend. If you manage to find a way to spend fifteen hundred dollars on streaming services in three months, I’d say to tell me how, but you’d have a hard time peeling your eyes away from your screens long enough to do so.

Overall, this is a nice little bonus that enhances the value of the Sapphire Reserve. With our anniversary year coming up in September 2020, I’d contemplated cancelling the card, but at this point there have been enough value adds to justify keeping it this year — at least in part to see if Chase continues with this type of behavior into 2021.

H/T: CNN Underscored

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