Chase Rewards Plus cardholders: Watch out for Sapphire Card "upgrade"

Wanted to share this. I seldom open anything from Chase aside from statements for my Rewards card (the legacy one with 5% GGD and 1% on everything else); however, I happened to open this letter by chance tonight, and was very glad I did. It read:

Dear ____

We're pleased to confirm your upgrade to Chase Sapphire with Ultimate Rewards. It brings you the ultimate in rewards and service.

Your upgrade will occur on September 30, 2009. You'll keep the same account number and there's still no annual fee. Plus, we'll automatically transfer your current rewards balance to your new card.

Unlimited earning potential. With Chase Sapphire, you'll earn 1 point for every $1 you spend on purchases. Your points will never expire and there's no limit to how much you can earn.

etc...

Thankfully, you can opt-out of this "upgrade" by calling 1-800-493-3319 before September 15, 2009. This has also been documented on this FlyerTalk thread. It appears these mailers we just sent out this week, so I'm sure word is still spreading.

Seems similar to what was done a few years ago with the Cash Plus Rewards card (cf. old FatWallet thread).

EDIT: Didn't realize the thread above was still active and reporting on this very issue. It appears I should count my lucky stars that I wasn't automatically switched over to the Freedom card (or something else) a while ago. Yikes...

i had the chase cash plus rewards card (5% back gas/groc/drugstores) and just got "upgraded" to freedom ultimate rewards. program blows.

We seriously need a Chase Sapphire conversion subforum.

My brother also had a Chase Reward card. Two weeks ago, he suddenly noticed when he logged online that the Chase Reward's logo has changed to Chase Freedom. Today he just received a Freedom card. This happened without advance notice.

tripleB said: We seriously need a Chase Sapphire conversion subforum.

Go start one and keep all of your posts there.

Thanks OP.

I received the mail a week ago as well. Just called the # OP provided, chase had no problem to keep my old terms for my reward plus card. Just 1 minute call.

scottxmso said: I got a letter in the mail from Chase saying that they are upgrading my Amazon Visa card to Amazon Visa Signature. I don't remember what all it said (aside from me getting 3 points/$1 on Amazon, 2 points/$1 on categories like gas/drugstores, and 1 point/$1 on everything else) but is this a good or bad thing? I skimmed through the terms and didn't see anything pop out at me but I could be missing something.The Signature card may not report the Credit Limit on your credit report, rather they often report the Highest Balance used. It sux if you always maintain a very low balance on the card.

These guys do what they want, I recently applied for the Sapphire to beat them to the punch but then they revaluated my credit lines and dropped them by 30-40% beacause of income. They didn't bother to look at my assests wich could pay for the entire line that I had twice. But oh well, me and the wife eac soaked them for $250 ha ha. Chase rewards have been good to me, just have to thank Uncle Same for slapping on all the fine print regulations to help us - ha ha ha, while the people who did cary a lower rate balance are now seeing that rate skyrocket. More of lets help the stupid to pain the responsealbe.

I got the same letter for my Chase Rewards - 10 year old account that only gave 5% on gas 1% everything else.
The the dates shifted a month.
I called in and only got a opt-out confirmation number. Hope they don't come next year with more 'upgrayedd s' .

I spoke to Chase earlier today about this "upgrade." Chase is really pushing the Sapphire, which they claim is their top of the line card and not available to all, etc. The CSR did say that the Sapphire has great benefits, like price protection if you find an advertisement with a lower price withing 60 days of your purchase. He suggested that this is a great feature for Black Friday sales. I pointed out that my current card already has Price Protection, but apparently Sapphire increases this benefit to $500 per item with no annual limit. My current World Mastercard is limited to $250 per item, $1000 annual limit, but I've never been able to take advantage of even that yet. Their printed upgrade information doesn't go into that detail. Can anyone confirm what the terms are for the special Sapphire features like Price Protection, Extended Protection, etc.?

My card was originally a Shell Mastercard, then a Chase Freedom (3% gas/1% other credited back each month), then a Chase Perfect Card (same terms). Recently it was upgraded to a World Mastercard. (Lost Luggage Reimbursement, Baggage Delay Insurance, Purchase Security, Price Protection are nice features.)

The dedicated phone line is nice and got an answer to a real person on the first ring, but Chase is still in the promotion stage so who knows if that will continue.

I'm still not sold on the Sapphire, as I like the simplicity of just getting Cash Back credited to my statement. With the Sapphire, one has to wait for large amounts of Cash Back or spend time calling Chase each month for this. The CSR did say that the voluntary change became automatic as a result of the new regulations requiring 45 day notices. I still think there must be some reason why Chase is pushing Sapphire, and it's probably not to be more generous. My account was scheduled to be upgraded on October 31.

UltimateTraveler, how ironic, with your handle you should be the first in line for the Sapphire upgrade!

olegos, you should warn me earlier...

JungleX, it didn't work, bunch of fxxkers!

UltimateTraveler said: What the heck!? My card was upgraded to Ultimate Reward even after I called them up to opt-out.
If you called and opted out, you should be able to call and get the card reinstated.

Same thing happened to me, I called and opted out of the Sapphire 'upgrade', then later received the Sapphire card in the mail.
Called Customer Service and advised them that I had opted out, was told they would review their call records and if I had in fact opted out they would revert my card back to the Rewards Plus card.

About a week later I received a call from CSR to let me know the card was being converted back to Rewards Plus.

Received new cards a couple weeks ago - Rewards Plus still going strong!

Also, intereting to note that the CR said that they were changing because people were just spending money on gas, grocreys, and then paying it off... so they weren't makeing any money. I replied, "I spent alot on this card.... and they made alot of money off me"

Bronco, there's a little problem with your math. You get 1 point per dollar plus 7% per point (NOT dollar). So it's 1.07 points per dollar.

From T&C:

Earning points and 7% Annual Points Dividend
You will earn 1 point for each $1 of net purchases. You will earn an additional 1 point for each $1 of eligible airfare net purchases made online through the program booking tool. You will receive a yearly bonus of 7% of all points you earned in the previous Year.

BillRHIT said: I got the notice and opted out. I wonder if anyone actually believes the CSR when they say "Sapphire is our best rewards card."

Well technically it is their best rewards card that they offer. Not that it's the best rewards card on the market but of the ones that they do offer, it's the best.

I have Freedom Plus - points never expire, and as of yet they are still honoring the $250 check for 200 points - can't beat it! I just wish that they would let you use the 200 points for $250 worth of statement credits - they won't let you do that!

I have Freedom Plus - points never expire, and as of yet they are still honoring the $250 check for 200 points - can't beat it! I just wish that they would let you use the 200 points for $250 worth of statement credits - they won't let you do that!