On Monday, Chase Sapphire Preferred and its premium partner, Sapphire Preferred, became the latest credit card issuers to offer a version of the Chase Sapphire Reserve.
With the announcement, Chase joins the likes of Chase Bank and Chase BankAmericard as credit card holders with access to a new card with a similar product offering.
The new card is currently available for $300 per month.
Chase Sapphire and Sapphire Preferred are available through all of Chase’s network of participating banks and is available to new Chase Preferred cardholders.
The Sapphire Preferred card is available only to those who have previously used the Chase Chase Sapphire card, or those who applied for a Chase Sapphire debit card.
Chase customers can redeem their Sapphire Preferred cards at participating Chase retail stores and online through Chase.com.
The new Sapphire Preferred product will come in two versions: the Sapphire Preferred Plus and Sapphire Reserve, which offer the same benefits but with a new fee structure.
The $300 monthly fee, which is the same as the $300 credit card, will be waived for new Chase Sapphire customers.
Chase and Sapphire have already announced plans to introduce more premium credit cards with the new Sapphire Reserve product, including Chase Sapphire Plus, which offers the same rewards, but will also include a fee.
The company said the Sapphire Reserve is expected to be available from August.
Sapphire Preferred is available for purchase through Chase, and is the only credit card offered by Chase on the card’s network.
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