MileValue is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Note: Some of the offers mentioned below may have changed or are no longer be available. You can view current offers here.

The Chase Ritz Carlton card is offering up to 140,000 bonus points after spending $2,000 in the first 3 months.

Or you can choose fewer bonus points with an annual fee that is waived the first year.

 This card comes with a plethora of benefits:

• $300 statement credit per year on airline incidentals
• $100 hotel credit for stays of 2 or more nights at any Ritz property
• Gold Elite status for the first year at Ritz properties
• 3 club-level upgrades per year
• Free Lounge Club access to airport lounges

There are several versions of the card and several ways to use Ritz-Carlton points, so there is a lot to understand before deciding to get the card.

• How can you get the annual fee waived?
• How good is the sign up bonus?
• How much are the additional card benefits worth?
• Who should not apply for this card?
• Who should apply for this card?

The Ritz Carlton Rewards card has been off most frequent flyers’ radar in the past, since it came with a $395 annual fee that was not waived during the first year.

Avoiding the Annual Fee

Recent reports on flyertalk indicate that anyone can get a version of the Ritz card with a 70,000 point sign up bonus with the first year’s annual fee waived. There is no online link for this offer, but anyone can apply by calling Chase at 1-888-846-7004 and mentioning RSVP code F53K. You can check out the original posts here and here.

When I called and gave the first agent the RSVP code, he asked me for a 12 digit confirmation number. I ended the call and called back a little while later. I got a different agent, and when I fed him the RSVP code he offered me the card. If you have an agent ask you for a confirmation number, thank them for their time, hang up, and try again. You should quickly find an agent who will let you sign up for the card.

Note that another version of this card, with all of the same benefits but with a 140,000 point sign up bonus and the annual fee of $395 not waived during the first year, is also available by using RSVP code F5BP.

70,000 Point vs. 140,000 Point Sign Up Bonus

70,000 points may seem like a lot, but if a careful examination of the Ritz Carlton award chart reveals that there are only 13 Tier One properties and twenty-six tier two properties in the Ritz portfolio. Tier one properties cost 30,000 points per night, and tier two properties cost 40,000 points per night. Maximum value could be obtained by booking one night at a tier one property and another night at a tier two property, but this has the disadvantage of limiting the stay to one night only. For most Ritz properties worldwide, 70,000 points will only be enough for one award night.

Fortunately, Ritz rewards points can also be used for Marriott awards. The Marriott award chart starts at 7,500 for category 1 properties, so 70,000 Ritz points could net up to 9 free nights at Marriott properties. Unfortunately, top tier Marriott properties also cost a large number of points per night, and 70,000 points would only be enough for one free night at the top two awards tiers in the Marriott portfolio.

Unless you value one night at the Ritz extremely highly, 70,000 Ritz rewards probably have better value when used at lower-end Marriott properties. Thus, counterintuitively, the Ritz rewards card sign up bonus is probably better for budget travelers looking to score several free nights than it is for middle-end travelers looking to stay at luxurious properties.

Which is better, the 70k/no annual fee for first year offer or 140k/$395 annual fee offer?

I personally value Marriott and Ritz-Carlton points at around 0.5 cents each, which makes paying a $395 annual fee for 70,000 points (worth $350 to me), a slightly bad deal. If you value the points higher than I do, because you can use them well at low tier properties or value high tier properties at retail value, then you’d be be better off getting more points by applying for the offer with the $395 annual fee.

$300 per Year Airline Incidentals Credit

There are two major upsides to this benefit. First, the cardholders are entitled to $300 of incidental reimbursement per calendar year. If you sign up for the Ritz card in September, spend $300 on airline incidentals by December, spend another $300 on airline incidentals in the spring, and cancel the card in August, then you will receive $600 of value without paying a cent up front.

What counts as an “airline incidental?” Baggage fees, food and drinks on the airplane, flight upgrades, lounge fees, and pet fees are all included.

The second major benefit to this perk is that it is available on any and all airlines. The American Express Platinum card has offered a similar benefit for years, but in the AMEX program cardholders must designate one airline on which they wish to receive incidental reimbursement. With the Ritz card, no airline designation is necessary, since the program reimburses incidental purchases on all airlines.

There have been reports of buying airline gift cards and successfully getting reimbursed, but not with anything close to 100% success. This would be by far the most attractive use of the credit in my opinion. However, there are also reports that buying airline gift cards in large denominations can trigger the system to not reimburse the charge. There is no hard and fast rule here, your mileage may vary.

In my opinion, this benefit alone could make this card worthwhile for the following groups:

• Families that travel frequently with checked bags
• Frequent travelers who need to bring along their pet
• Frequent travelers who like to upgrade their class of service at the last minute
• Business travelers who are reimbursed for travel expenses–incur charges, submit the expense report, and then receive statement credits to “make” $300 per calendar year

$100 Hotel Credit

For every paid booking of 2 nights or longer at a Ritz property, cardholders receive a $100 hotel credit. This credit can be used for food, beverages, spa treatments, golf outings, etc.

It’s hard to image anyone signing up for the Ritz card for this benefit alone. Once again, it’s a nice perk along with everything else, and for Ritz frequenters it could provide decent value.

Three Club Level Upgrades Per Year

Club level upgrades can only be used on paid bookings, and upgrades are subject to availability at the time of booking. Ritz advertises the club level as a “hotel within a hotel” and a “remarkably exclusive realm.” The club level varies from property to property, but all club levels include five food and beverage presentations daily.

In my opinion, this is one of the most valuable additional benefits of opening the Ritz rewards card. While staying at the club level, you will have food and alcohol, in unlimited quantities, provided for free. The quality of food and alcohol is reported to be quite high.

Conservatively, I would value a day of unlimited free food and high quality beverages at $50. Thus, for a couple, this benefit could be worth at least $100 per stay, and is a great perk for those who want to spice up their travel with an occasional foray into opulence.

As I mentioned above, the club level varies from property to property. Not all Ritz properties have a club level. For more information on the club level at different Ritz properties, see here.

Airport Lounge Access

Similar to Chase’s Ink Bold and Ink Plus cards, the Ritz rewards card gives cardholders access to airport lounges that participate in Lounge Club. A list of participating lounges can be found here (use drop-down box at top left).

There are many ways to gain lounge access, including my personal favorite, flying international business or first class. This benefit adds value for those traveling in economy who don’t have access to a lounge through other means, but isn’t a primary reason to sign up for the card.

Who Should Not Apply for this Card?

In general, miles and points newbies should target other cards before acquiring a Ritz rewards card.

Chase’s Hyatt card and the Citi® Hilton HHonors™ Reserve Card both come with two free nights at any property in the respective hotel’s portfolio.  The nicest Hyatt and Hilton properties are arguably equivalent to top tier Ritz properties, and there are more Hyatt and Hilton properties. Thus, if you want free nights at luxury hotels, these cards would be better first and second choices.

Who Should get this Card?

Throughout this post I have mentioned various people who might benefit from opening the Ritz rewards card.

• Travelers who frequent Ritz properties
• Budget travelers who want several free nights at Marriott properties
• Families that travel frequently with checked bags
• People who want to travel with their pet
• Frequent travelers who like to upgrade their class of service at the last minute
• Business travelers who are reimbursed for travel expenses
• Couples who want to experience a few days of pure luxury and free food at the Ritz club level

Finally, for those who already have had most of Chase’s personal cards within the past two years, the Ritz rewards card does provide solid value when accounting for the sign up bonus and the additional benefits.

Summary

The Ritz rewards card comes with a 70,000 point sign up bonus after first purchase and a slew of other benefits. Right now anyone can get this card with the annual fee of $395 waived for the first year by calling 1-888-846-7004 and mentioning RSVP code F53K.

Or call the same number and use RSVP code F5BP to apply for the 140,000 point sign up bonus with the $395 annual fee not waived. This card has a $2,000 minimum spending requirement in the first three months.

Confused about which card is right for you? Get a free credit card consultation next week.