Good afternoon everyone, I hope your weekend is going well. A few weeks ago, Chase announced a few changes regarding the Chase Sapphire Reserve Credit Card. Among the changes were the ability to redeem Chase Ultimate Rewards Points for 1.5 cents per point toward restaurant, grocery store, and home improvement purchases from May 31 through September 30 and the ability to redeem the $300 travel credit toward grocery and gas station purchases from June 1 through December 31. Since my annual fee posted in April, I was excited to take advantage of the $300 travel credit toward those new categories. I used my Chase Sapphire Reserve at Raley’s (my local grocery store) and patiently waited for the travel credit to apply. Unfortunately, after waiting a few days, the statement credit did not post. I did some digging and found out that I had already used my $300 travel credit in October 2019. Let me explain what happened.
For the record, here are the details of my Raley’s grocery store purchase on June 1. It coded as groceries and I earned 5x Chase Ultimate Rewards Points on the transaction.
I checked the Chase Ultimate Rewards travel benefits section. Much to my surprise, I already received the full $300 travel credit. At the bottom, it says “Next year’s $300 Annual Travel Credit will begin after your statement closing date in 10/2020*”.
As I mentioned earlier, my $550 annual fee posted on April 1 and I received an automatic $100 annual membership fee adjustment on April 2. By my logic and understanding, I thought that was the beginning of a new cardmember year and the start of another $300 travel credit period.
After digging back into my 2019 statements, I saw that I received $300 in travel credit from October 5-12 for eligible travel purchases.
After checking my credit card spreadsheet, it appears that I opened a Chase Freedom in November 2013 and then product changed that card into a Chase Sapphire Reserve in September 2017, so that might be why my $300 travel credit begins in October. And in fact, the first round of $300 travel credit started posting in October 2017 shortly after the product change was completed. If I originally opened a card in November and product changed to a new card in September, why does my annual fee post in April? That is probably the biggest mystery of all.
Long story short, if you product changed to a Chase Sapphire Reserve, your annual fee date may not line up with when your $300 travel credit begins. When in doubt, check your old credit card statements or the Chase Ultimate Rewards travel benefits section. Since the ability to redeem the $300 travel credit for restaurant and gas station purchases runs through December 31, I should be able to use my credit from October through December. If you have any questions about the Chase Sapphire Reserve Credit Card, please leave a comment below. Have a great weekend everyone!