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Update: Some offers mentioned below are no longer available. View the current offers here – Chase Sapphire Reserve

After I posted an unboxing video last weekmany readers have written in to say that their much-anticipated Chase Sapphire Reserve cards arrived in a plain white envelope, rather than the issuer’s elaborate packaging. Fortunately, those new Reserve customers still received metal cards — according to a report in Bloomberg, Chase has since run out. Yes, that’s right — Sapphire Reserve is so popular that Chase ran out of metal cards!

According to the article, Chase approved “tens of thousands of applications” within the first two days. With a $450 annual fee, it’s likely that the issuer expected significantly less demand for its new flagship product, resulting first in a shortage of fancy boxes and now a depleted supply of metal cards. In the meantime, some customers may receive a plastic card, though they’ll be able to “upgrade” to a metal version once Chase has them back in stock. Interestingly, while I did receive a metal card, I’ve come across a couple of registers that haven’t been able to scan the magnetic strip. I asked for a replacement, which has yet to arrive — I guess it’s now clear why.

So why, exactly, has demand for this card been off the charts? It’s all about the perks — from a 100,000-point sign-up bonus (after spending $4,000 in the first three months) to an annual $300 travel credit (that even works on airfare and Ubers), this new card has a lot going for it. Of course the benefits won’t change if you’re initially issued a plastic version, though there’s no question that the card’s typical metal construction helps to boost its appeal.

Have a question about the Chase Sapphire Reserve Card? Check out our Q&A. See these posts for more:

Did you receive a plastic Sapphire Reserve card?

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