The card comes with an annual fee of $95 (not waived) but also a $100 travel credit. The sign-up bonus (after $3,000 in spending) of 50,000 points is worth $500 as a statement credit (generous!) or in travel redemptions.
The card earns 2x on travel and dining and 1.5x on everything else. However if you deposit $100,000 with Bank of America (Investments or Checking) and become a Platinum Preferred Member the card will suddenly earn 3.5x on travel and 2.625 on everything else.
The Chase Sapphire Reserve is still my favorite with a straight earn for travel/ dining spend at 3x but if you do a lot of (manufactured) spend in a non-bonus category the 2.625x can be amazing.
I have met people who rack up $100,000 in manufactured spend per week (yes in Middle America likely) and this would give them $2,625 in INCOME before fees for the (manufactured) spending. Fees for manufacturing a spend of $100,000 can be as low as $400. That is downright amazing!
According to the posted Terms & Conditions there is no limit for this posted right now. This may or may not change. Likely a cap of $100,000 will be introduced at some point. But if you get the card now the bank can’t just change the Terms overnight without risking a lawsuit.