When it comes to credit cards, looks generally don’t matter — it’s the benefits that count. But that’s definitely not the case with the new and massively in-demand Chase Sapphire Reserve Card. Demand for the recently released card has been so overwhelming that the manufacturers ran out of the metal used to make it and were forced to send out temporary plastic cards to successful applicants. Adding to the card’s allure is the fact that the metal’s actual composition is being kept a trade secret by Chase.
What makes it even more astounding that Chase ran out of metal is that so many people signed up for the card in the first place because it carries a hefty $450 annual fee. Apparently, despite the fee, Chase approved tens of thousands of applications in the first two days alone. (Clearly even Chase was surprised by the demand or one assumes they would not have run out of the metal!)
It’s not hard to see why the card has so much hype. The Chase Sapphire Reserve Card has an impressive array of perks. Cardholders earn a bonus of 100,000 points when they spend $4,000 in the first three months, which is valued at $1,500 in travel rewards on Chase’s website. The card also awards three points for every $1 spent on dining and travel (with Uber and AirBnb rentals counting as travel expenses). It also gives an annual credit of $300 for travel expenses.
If you have to ask just why the metal make-up of the card matters, than you’re likely not one of the select few who have held in in their hands. The bespoke bank card draws the eye much more than a plastic card would and also makes a distinct metallic noise when you plunk it down at the cash register. People will indeed stare. In general, cardholders are incredibly attracted to these distinctive features as they make it more obvious that they are among the upper echelon of premium credit cardmembers.
Aware that the physical card itself is a large component of its appeal, Chase has promised that once the metal cards are available, those with plastic cards can replace them with the much more mesmerizing metal.
Whether or not the Chase Sapphire Reserve Card will continue to amass applications remains to be seen. Regardless, there is no doubt that Chase has succeeded in creating a product that is as much conversation piece as it is a credit card.
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