Someone is handed a stack of cash.

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I've covered before how I wasn't planning to keep my Chase Sapphire Reserve® this year. It has one of the highest annual fees at $550, although Chase lowered that to $450 for existing cardholders this year due to the COVID-19 pandemic. Still, that seemed like a lot to pay for a travel card right now.

Fortunately, Chase is pulling out all the stops to keep cardholders happy. After learning that Chase was offering statement credits to some cardholders, I called and got an offer for $150 back. Considering the card has a $300 annual travel credit (that also includes grocery and gas station purchases through June 30, 2021), I'm essentially getting it for free this year.

Based on reports online, this offer isn't just for the Chase Sapphire Reserve®. It's also possible to receive money back with other Chase credit cards that charge annual fees. Here's a walkthrough of exactly how to ask for it.

How to get a statement credit from Chase

This is how to see if you're eligible for a statement credit from Chase:

  1. Call Chase at the number on the back of your card.
  2. Go through the automated menu and choose the option for customer service.
  3. Ask the representative if there are special offers or statement credits available for your account.

You can mention that you're thinking about canceling or downgrading the credit card, but that's not necessary.

The representative will let you know if they find an offer for you. If so, you're done -- just accept it. Remember to ask them what's available for all your Chase cards with annual fees. You could get money back on multiple credit cards.

According to the Chase representative I spoke with, the statement credit posts to the account within one to two billing cycles.

If there isn't anything available, try calling back later. Some cardholders who have been unsuccessful the first time around have called back and received an offer.

What kind of offers are available?

Chase is currently offering a statement credit, which is money back on your credit card account. The credit amounts depend on the card and the cardholder.

For the Chase Sapphire Reserve®, the most common offer seems to be a $150 statement credit. However, there are also cardholders who've received a $250 credit.

You could be eligible for a credit with any Chase credit card with an annual fee. That includes Chase Sapphire cards and Ink business credit cards, as well as co-branded Chase airline and hotel cards with the following companies:

  • United Airlines
  • Southwest Airlines
  • Marriott Hotels
  • Hyatt Hotels
  • IHG Hotels

It's hard not to like credit card offers you can get with just a five- to 10-minute phone call. If you have a Chase credit card with an annual fee, contacting Chase is well worth your time. Not everyone is eligible, but if you are, you'll be glad you called.