Chase Sapphire Reserve Revamped: $795 Fee, New Perks

The Chase Sapphire Reserve card is getting a significant overhaul this summer, with a hefty annual fee increase and a suite of new benefits. The annual fee is jumping from $550 to $795 for the primary cardholder and from $75 to $195 for authorized users. However, Chase is also adding substantial new credits to offset the increased cost. These include a $500 annual hotel booking credit ($250 semi-annual), a $300 dining credit via Sapphire Reserve Tables ($150 semi-annual), a $300 StubHub credit ($150 semi-annual), and $300 in DoorDash credit ($25 monthly). Additional credits cover Lyft ($120 annual), Peloton ($120 annual), and Apple services ($250 annual). The existing $300 travel credit and TSA PreCheck/Global Entry credit remain. Furthermore, after spending $75,000 annually, cardholders unlock a $500 Southwest credit, Southwest A-List status, IHG One Rewards Diamond Elite Status, and a $250 “The Shops at Chase” credit. Changes to earning rates include 8x on Chase travel bookings, 4x on direct hotel and flight bookings, and 3x on dining. The 1.5 cents per point redemption is reportedly being replaced with a base of 1 cent per point, with promotional boosts to 2 cents possible. Points earned before a cutoff date later this year will retain the 1.5 cpp redemption rate until 2027. A business version of the Sapphire Reserve is also expected to launch soon. While the increased value proposition is significant for high-spending individuals, the numerous credits may prove cumbersome to manage. Current cardholders will likely have aspects of their old program grandfathered in. The higher annual fee raises the question of whether the increased benefits justify the cost compared to other premium travel cards. Consumers should carefully weigh the potential rewards against the increased expenses before deciding whether to apply for the new card or upgrade.

(Source: https://dannydealguru.com/chase-sapphire-reserve-revamp/)