Chase Reserve annual fee going up to $550, DoorDash and Lyft benefits added

The Chase Sapphire Reserve is one of the best premium credit cards on the market.  It comes with a $450 annual fee, but is easily offset by the annual $300 travel credit, $100 Global Entry credit, and Priority Pass Select membership.  As of January 12, 2020, the annual fee for new applicants will increase by $100 to $550.  For existing card members, the increased $550 annual fee will be charged for renewals after April 1, 2020.  Chase will be adding free DoorDash membership for 2 years and Lyft Pink status to all Chase Reserve card holders.

DoorDash membership

If you check your Chase Reserve account now, you should already see DoorDash membership as a free benefit for 2 years.  DoorDash normally costs $9.99 a month and comes with free food delivery on orders over $12.  DoorDash membership also has lower service fees, saving members on average $4-$5 per order.  This benefit is also going to be added to Chase Sapphire Preferred members.  Chase Freedom and Slate card holders will get it for free for 3 months only.

In addition to DoorDash membership, Chase Reserve card holders will be getting $60 DoorDash credit for 2020 and 2021.

Lyft Pink

Chase Reserve card holders will now be give Lyft Pink membership, which Lyft just recently launched.  Lyft Pink, which normally costs $19.99 a month, includes the following benefits:

  • 15% off unlimited car rides
  • Priority airport pickups
  • Relaxed cancellations. Three waived cancel fees per month if you rebook within 15 minutes.
  • Surprise offers. Get seasonal discounts and exclusive savings.
  • Waived lost and found fees.
  • Bikes and scooters. Enjoy 3 free 30-min. bike or scooter rides per month (in select markets).

Bottom line

It's never good to see an annual fee increase, especially on a card that already requires you to shell out $450 annually.  The DoorDash and Lyft Pink memberships do mitigate the increases, though the value of the two new benefits would definitely depend on your usage.  DoorDash is definitely for those who fancy restaurant food delivery, and Lyft Pink is useful if you actually use Lyft and their bikes and scooters.  What do you make of the changes coming to Chase Reserve card?


Popular posts from this blog

Citi temporarily adds American Airlines as a mileage transfer partner!

Park Hyatt Sydney review

Spend $10 on small businesses on Amazon, get $10 credit