Can You Still Double Dip Sapphire Reserve Travel Credit?

By | May 16, 2017

One of the most generous benefits of the Chase Sapphire Reserve credit card is its $300 annual travel credit. Right now, since the credit resets each December, you could receive the full travel credit twice–that’s $600–while paying only one annual fee of $450.

Earlier today, news broke of a change in the reset timing of the annual credit. Instead of the travel credit resetting each December, it will reset based on the anniversary of the date you opened your account.  This change takes effect for new applications starting on May 21, 2017.

I’ve highlighted the relevant definitions in the Benefit Terms below:

A statement credit will automatically be applied to your account when your card is used for purchases in the travel category, up to an annual maximum accumulation of $300. Annual means the year beginning with your account open date through the first statement date after your account open date anniversary, and the 12 monthly billing cycles after that each year. (For applications submitted before May 21, 2017, annual means the year beginning with your account open date through the first December statement date of that same year, and the 12 billing cycles starting after your December statement date through the following December statement date each year.)

The End of the Double-Dip?

Does this mean that you can no longer get the annual $300 credit twice in the first year you have the card? Although the new terms are designed to make it look as though you can’t double-dip, you still can. You just have less time. Read on to learn how.

If you already have the card, or are approved between now and May 20, 2017, nothing has changed. The double-dipping strategy I explained in this post still applies. After that date, you’ll need some discipline, but you can make it work. Consider the following hypothetical timeline as an example:

  • June 2, 2017 – Apply and are instantly approved
  • July 1, 2017 – First annual fee posts (it always posts on the first day of the month following your approval)
  • At any point – contact Chase to change your Statement Closing date to 1 day after the date you were approved, in this example the 3rd of each month.
  • June 3, 2018 – Your travel credit resets. You have until June 2, 2018 for your first $300 in travel credits to post. Don’t cut it that close
  • July 1, 2018 – Second annual fee posts.
  • July 30, 2018 – Last day to cancel Sapphire Reserve and have the annual fee refunded.

The magic is in the two dates in red above. You have from June 3, 2018 through July 30, 2018, to receive your second $300 travel credit while only being on the hook for your first annual fee.

Double-dipping is still very much alive. The change in terms by Chase make it a little more difficult, but plan accordingly, and you can get the $300 travel credit twice while only paying one $450 annual fee.

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5 thoughts on “Can You Still Double Dip Sapphire Reserve Travel Credit?

  1. Chris

    Hi,

    Not sure if this changes anything but what if I was unlucky enough to have gotten approved on the 1st of the month. ( i got approved 1st of july).

    Reply
    1. Yak Post author

      It’s only unlucky if you were billed your annual fee on that same day, which I think shouldn’t be the case. Assuming your first annual fee was billed on August 1, you can just add 1 month to the example in my post. Change your statement date to either the 2nd or the 3rd of each month. Your travel credit should reset on July 2 or 3, 2018. Your 2nd annual fee won’t bill until August 1, 2018. So you should have almost all of July and August 2018 to use your 2nd travel credit and still cancel without being on the hook for the 2nd AF.

      Reply
      1. Chris

        Thanks for the quick response. Unlucky as always, I was billed july 1st. Does this mean i have no window anymore or my window shortens to only 1 month.

        Reply
        1. Yak Post author

          You know, when I wrote this post, I wasn’t sure what would happen with approvals on the 1st of the month, so I intentionally used June 2 for the example just in case. Looks like I was right.

          You still do have a window, but it’s shorter. Change your statement date to the 2nd to give you the longest opportunity. You’ll have pretty much all of July. Plan ahead and you can do it. Think about airline, hotel or cruiseline gift cards that you can purchase next July to trigger the credit, yet use sometime in the future. Research before you buy to make sure your chosen gift card will work. Good luck!

          Reply

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