What is your impression about a credit card with $450 annual fee? When first hearing about the new Chase Sapphire Reserve, I had to make the assumption base on its annual fee that it could be another fancy luxury credit card for a small group of customers. It turned out that Sapphire Reserve started a credit card frenzy, Chase application page is swamped by tens of thousands applications and the company ran out of actual cards in the second week. “It significantly exceeded our strongest expectations,” said Lauren Francis, Communication Director – Chase Card Services