Chase is issuing metal Sapphire Reserve cards again after demand for the wildly popular rewards card with the 100,000-point sign-up bonus outstripped supply.
“I got a fancy metal one!” says Erin Lowry, whose Broke Millennial blog has led to a forthcoming “Broke Millennial” book. She applied for a Reserve card last week. “Quite heavy compared to the other ones I own,” she says of the metal Reserve card.
A few weeks after the card debuted Aug. 23, Chase ran out of the metal cards and had been shipping temporary plastic ones.
Chase spokeswoman Lauren Francis emailed late last week that the metal cards are flowing again. She previously has said that the Reserve cards are being snapped up mostly by millennials, an age group that had been thought to be more credit-shy.
What is the Chase Sapphire Reserve’s appeal with millennials?
“Considering that millennials tend to favor experiences over tangible goods, it makes sense why a card with such a high travel rewards focused sign-on bonus would appeal to our demographic,” Lowry says.
However, she adds that many millennials she has spoken with balk at the Reserve card’s $450 annual fee and the minimum spend of $4,000 in three months to get that 100,000-point sign-up bonus.
“A lot of my non-personal-finance nerd friends aren’t interested in paying that for the bonus,” she says.
That sign-up bonus with the Reserve card (see review) is a big draw, though. Three millennials I spoke with previously have grand plans to travel using those 100,000 points.
While new Reserve cardholders are again getting the metal cards, The Points Guy reported Friday that Chase will begin sending metal cards in November to those who originally received the plastic version. No need to call to request a replacement.
Kevin Fowler, an SEO specialist here at CreditCards.com is one of those using the plastic version.
The plastic substitutes work just the same as the metal ones. And the sign-up bonus dreams are the same, too.
Fowler, a just-over-the-cusp millennial, has earmarked his 100,000-point sign-up bonus to pay for he and his fiancee’s May 2017 wedding and honeymoon.