Anyone who uses a Chase Sapphire Reserve card may have to get used to some changes. A leaked internal document that appears to be from Chase recently appeared on the Internet. What that document reveals is that Chase intends to devalue three specific perks associated with the card by the end of the summer. Is the document just part of a rumor? It doesn't appear to be so. The validity of the document has been confirmed by a Chase insider.
Cardholders are used to earning three times the points on all travel expenses when making purchases with the Chase Sapphire Reserve card. In addition, cardholders get the perk of receiving statement credits to cover the first $300 they spend on travel every year. Chase customers are currently able to earn three times the points on that $300 credit. This creates an opportunity for double dipping when it comes to perks. However, that won't be the case once Aug. 26 arrives. The leaked document reveals that Chase will no longer allow customers to earn points on travel purchases that are reimbursed using a statement credit.
The second big change has to do with lounge access. Frequent travelers who use the Chase Sapphire Reserve card probably already know that the card comes with access to more than 1,000 lounges around the globe. In addition, the card comes with free membership in Priority Pass Select. The good news is that this perk isn't going anywhere. The bad news is that it is going to be altered just slightly. The Priority Pass membership that comes with owning a Chase Sapphire Reserve Card currently allows members to bring an unlimited number of guests with them when visiting lounges. Cardholders will soon be limited to two guests per visit.
The final change will do away with the price protection that Chase Sapphire Cardholders get to enjoy. The previous policy had allowed cardholders to be reimbursed up to $500 per item if they discovered an item was available for a lower price somewhere else within 90 days of purchase. However, that policy will be scrapped beginning late August.