The hottest new metal product isn’t the iPhone 7—it’s the Chase Sapphire Reserve Credit Card.
According to Marketwatch, the “premier” card, which launched a few weeks ago, has been so popular that the manufacturer actually ran out of the material it uses to make the metal card. A Chase spokesperson said that “tens of thousands” of people were approved for the card in a matter of two days, and for now some will have to make due with a plastic version until their “handcrafted” card can be produced.
(What does it even mean that a credit card is “handcrafted”? We have no idea. But this kind of gimmick should have no bearing whatsoever on whether you should get one.)
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Despite its $450 annual fee, the card has been particularly popular with millennials, the spokesperson said. The majority of new cards are supposedly going to young adults who, it should be noted, have a reputation for hating credit cards in general.
So what does it offer? As my colleague Taylor Tepper has written, the card comes with some huge upfront rewards and is ideal for frequent fliers. “Committed travelers will have a hard time turning down a $1,500 signup bonus and access to almost 1,000 airport lounges,” he writes. “The perks are just too rich.”
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Cardholders earn 100,000 bonus points if they spend $4,000 within three months of opening the account, three points for each dollar spent on travel and at restaurants, and one point for all other purchases. Tepper lays out the math for getting the card here. In essence, it’s a richer version of the Chase Sapphire Preferred.