Please note this site has financial relationships with American Express and this post may contain affiliate links. Read my Advertiser Disclosure policy here to learn more about my partners.
Many of the premium rewards credit cards have a built-in annual travel credit of some sort, but they all execute it in their own quirky ways that can get a little confusing from card to card. The Chase Sapphire Reserve’s annual $300 travel credit has been one of the most generous in that it works for any travel charge and it is issued once each “calendar year” meaning in your first cardmember year you could theoretically get it twice. Note that calendar year does not mean 12/31, but rather when your first December statement credit closes.
However, for applications for the Chase Sapphire Reserve submitted May 21, 2017 and later, that part of the perk will be changing a bit as “annual” will now mean the account open date through the first statement date after your account open date anniversary and then every 12 monthly billing cycles after that. In other words, if you apply on May 20, 2017, you will be eligible for your second $300 annual travel credit after your first December 2017 statement date closes. However, if you apply on May 22, 2017, your second $300 annual statement credit won’t be available until roughly May 2018.
This won’t make a huge difference if you are keeping the card for the long haul, but it does make a fair amount of difference in the first year in terms of timing for your travel credit. If you get totally confused, just call the number on the back of your card to see when you are eligible for your next travel credit. There is also a built-in travel credit track on their website so you can see how much of the credit for the year you have used thus far. Mine has all been used up….until December when I’ll get a fresh $300.
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.