Chase might be feeling the heat from the recent Sapphire Reserve changes and its hefty $795 annual fee, especially compared to Amex's Platinum card revamp. Word on the street (and in online forums) is that people are cancelling their cards, and Chase is scrambling to keep them. How? With a targeted retention offer of a sweet $400 statement credit – no spending required!

So, what does this mean for you? If you're a Sapphire Reserve cardholder thinking about cancelling, HOLD UP! It's definitely worth calling Chase and asking about a retention offer. If at first you don't succeed, try, try again! Some folks are reporting getting the offer after an initial rejection. It's like a secret menu item for cardholders. Just remember that Chase has been known to send out 1099 forms for these types of credits, so keep that in mind when doing your taxes. Happy dialing and hopefully, happy saving!