Is it worth keeping the premium credit card for 2021?
OK class, for our next discussion...
I have had a Chase Sapphire Reserve card for almost 4 years. Mine renews Jan 1 and the fee goes up from $450 to $550. In these times of no travel, is it worth keeping? One option is downgrading it to a Sapphire Preferred. Its fee is $95 and you keep your UR points. Benefits aren't quire the same, obviously, but not bad. The first travel expense you book with Sapphire Reserve, you get a $300 credit, so the card's annual fee is really $250, assuming there will be travel in 2021.
I wonder if Chase will lower the fee in the upcoming months. I haven't found anything on the Internet about people negotiating the fee down.