Chase Card Services, a division of JPMorgan Chase, has targeted the luxury credit card market with a new product, known as Chase Sapphire Reserve.
The new credit card, which offers 100,000 points sign-on bonus and the rewards value on a range of travel purchases, joins the suite of Chase Sapphire’s premier rewards cards.
Cardholders can avail a number of benefits such as 3X points on a various types of travel and dining purchases, flexible redemption options and valuable travel credits.
The card provides global rewards on traditional airfare and hotels, to the less traditional taxis, trains, and travel within the ‘sharing economy.’
Launched on the Visa Infinite platform, the new credit card does not charge foreign transaction fees. It offers 1X points per $1 spent on all other purchases, $300 annual travel credit as reimbursement for travel purchases as well as $100 application fee credit for Global Entry or TSA Pre.
After spending $4,000 in the first three months, the Chase Sapphire Reserve cardholders earn 100,000 bonus points, which is equivalent to $1,500 when redeemed for travel through Chase Ultimate Rewards.
Chase Branded Cards president Pam Codispoti said: “Our customers love Chase Sapphire, so we’re taking it to the next level. We’re giving our customers more rewards, benefits and the opportunity to unlock one-of-a-kind travel and dining experiences to enrich their lives.”
Chase said that there is a $450 annual fee and a $75 annual fee for each authorised user.