NEW YORK (AP) – The demand has been so overwhelming that the manufacturer ran out of raw material in just days. Enthusiasts extol its virtues all over the internet. Millennials are clamoring for it.
It’s not a new video game, or some fancy food craze, or even Apple’s latest iPhone, but a credit card.
Calling it plastic wouldn’t do it justice. It is a high-end, high-fee, high-reward card made of a metallic alloy that gives it a satisfying heft and an impressive thunk when you toss it onto the table to pick up the check.
The Chase Sapphire Reserve Card has become the hottest card on the market just two weeks after being introduced, even though it came out during the slow, end-of-summer period, it carries a hefty $450 annual fee, and JPMorgan Chase spent nothing on advertising it.
“I’m telling all my friends about it,” said Maddy Novich, 33, of New York, who applied for the card, as did her husband.