It’s no secret that the best credit cards have the highest annual fees. The good thing is, rewards credit cards offer an array of perks that often make the added costs worth it. This year, the popular Chase Sapphire Reserve® is revamping its customer benefits by partnering with two major brands that will make a real difference in the card’s overall value. Enter: Lyft and DoorDash.
Lyft and DoorDash Perks
Beginning January 12, 2020, Reserve card members will receive 10x total points on all Lyft rides along with a complimentary Lyft Pink membership, which includes 15% off rides, relaxed cancellations and priority airport pickup. Customers will also get up to $120 in statement credits on DoorDash purchases and DashPass at no extra cost, which allows free delivery on all orders $12 or more.
There’s been tons of chatter around the promotions, but the Slickdeals community emphasized that the brand partnerships thankfully led to new benefits for all Chase cardholders.
“This is not just limited to Reserve members as the Sapphire card appears to have the benefit as well,” user overzeetop commented.
For instance, Chase Sapphire Preferred® Card, Chase Freedom®, Chase Freedom Unlimited®, Freedom® Student and Ink customers can land 5x total points on Lyft rides, while Freedom and Slate members are also gifted free DashPass for three months. Chase Sapphire Preferred cardholders receive a complimentary DashPass for a year.
- Chase Sapphire Preferred and Chase Sapphire Reserve: Free 1-year DashPass
- Chase Freedom, Chase Freedom Unlimited, Freedom Student and Slate: Free 3-month DashPass, plus a 50% discount for the following nine months.
An Increased Annual Fee
Beyond benefits, the Reserve card alone will be hit with a $100 annual fee increase. Therefore, future members will now be required to pay $550 yearly for the card and those who already have it will see the updated amount on their next renewal date after April 1, 2020. Many quickly realized this new rate rivals the The Platinum Card® from American Express, also costing $550 each year.
“The real winners will be anyone who uses Lyft/DashPass on a regular basis organically. I have no doubt they will come out way ahead,” said SlickAnon.
Top Chase Credit Cards
Whether you’re looking to upgrade your current Chase card or add a new card to your wallet, these are among the most popular Chase credit cards.
Chase Freedom Unlimited®
Chase Freedom Unlimited is the perfect rewards card to give you just a little extra back for all of those purchases that do not fall into the popular spending categories like dining or groceries. The Freedom Unlimited gives you 1.5 Ultimate Rewards point per dollar spent on everything.
- Annual Fee: $0
- Value: 1.5X points cash back on all purchases
- Sign-Up Bonus: $150 bonus after spending $500 during the first three billing cycles
- Pro: 0% intro APR on balance transfers and purchases for 15 months
- Con: Better cash-back cards for spending in other categories
Chase Sapphire Preferred® Card
If you aren’t ready for the hefty annual fee that comes with premium cards, the Chase Sapphire Preferred may be the next best thing. The Chase Sapphire Preferred features a lower annual fee ($95) and many perks. New cardholders can earn up to $750 in travel when they spend $4,000 in their first three months. Earn 2X points on travel and dining and 1 point per dollar spent on other purchases. Points go 25% further when redeemed on travel. Plus, this card has no foreign transaction fee, so you can use it freely on your trip to Tuscany.
- Annual Fee: $95
- Value: 2x points on travel and dining
- Sign-Up Bonus: 60,000 points after spending $4,000 during the first three billing cycles
- Pro: No blackout dates for point redemption
- Con: High spending threshold to reach sigh-up bonus
Chase Sapphire Reserve®
Earn up to $750 worth of travel after spending $4,000 within your first three months of opening the Chase Sapphire Reserve. Your points are worth 50% more when you redeem them for travel, and you will receive a $300 travel credit each year. The Sapphire Reserve packs in a lot of benefits for its $550 annual fee, including access to airport lounges with Priority Pass, zero foreign transaction fees, 3X points on dining, and a $100 application fee credit for Global Entry or TSA Pre-Check.
- Annual Fee: $550
- Rewards Rate: 3X points on travel and dining
- Sign-Up Bonus: 50,000 points after spending $4,000 during the first three billing cycles
- Pro: $300 annual travel credit
- Con: Approvals are challenging with Chase’s 5/24 rule
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