Chase Sapphire Reserve is making big changes, including a $795 annual price hike
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The Chase Sapphire Reserve® card, one of the most popular high-end travel rewards credit cards, is getting a makeover, and it will have a much higher annual fee to go with it. Chase just announced that, beginning June 23, 2025, cardholders will have to pay a fee of $795 per year instead of the current $550 annual fee. That's a 44.5% hike, vaulting the Sapphire Reserve ahead of the competing The Platinum Card® by American Express, which has an annual fee of $695.
Cardholders will get a slew of new benefits for that increased annual fee, but one of the most attractive features of the Chase Sapphire Reserve is going away. The card will now earn just 1 point per dollar spent on general travel purchases, in exchange for higher earnings on flights and hotels. That change is sure to irk cardholders using the Sapphire Reserve as their go-to card for everyday travel expenses.
Here's a look at what's changing and what's staying the same, as well as possible alternatives now that the hiked annual fee and changed earnings may make the Chase Sapphire Reserve less attractive to some.
The annual fee hike goes into effect on June 23. If you apply for and are approved for the Chase Sapphire Reserve card before that date, you will be charged the current fee of $550.
Existing cardholders will be charged the higher annual fee beginning Oct. 26, so if you already have the card and your anniversary date falls before that day, you will still pay the current, lower fee.
The annual fee to add an authorized user is also going up on the same dates, from $75 to $195. That's an increase of 160%.
Instead of earning 3x points per dollar on all travel expenses, the card will now earn up to 8x points on some travel categories, but only 1x on general travel, including mass transit, vacation bookings like Airbnb and cruises.
The good news is that the Chase Sapphire Reserve card will now offer increased points earnings on flights booked through Chase Travel, as well as flights and hotels booked directly.
Hotels booked through Chase Travel: Now earns 8x (previously 10x)
Hotels booked directly: Now earns 4x (previously 3x), after using the $300 travel credit
Flights booked through Chase Travel: Now earns 8x (previously 5x)
Flights booked directly with airlines: Now earns 4x (previously 3x), after using the $300 travel credit
Rental cars booked through Chase Travel: Now earns 8x (previously 10x)
All other travel, including vacation rentals and mass transit: Now earns 1x (previously 3x)
It will also continue to earn 3x on dining, 5x on eligible Lyft rides and 10x on eligible Peloton purchases.
Like in its current incarnation, the revamped Sapphire Reserve offers credits that help offset the annual fee. In exchange for a much higher fee, there are a host of new credits.
$500 annual statement credit for stays booked on The Edit, a collection of luxury hotels and resorts curated by Chase (split into two biannual credits of $250)
$300 annual credit at Sapphire Reserve Exclusive Tables, which can be booked on OpenTable (split into two $150 biannual credits, activation required)
$300 annually in monthly DoorDash promotions (a $5 restaurant promo and two $10 promos on everyday essentials each month, activation required by Dec. 31, 2027)
$300 annual statement credit for concert and event tickets purchased on StubHub or Viagogo (split into two $150 biannual credits, activation required)
$250 annual statement credit for Apple TV+ and Apple Music subscriptions (one-time activation per each service required, on chase.com or the Chase mobile app)
$120 in annual Lyft credits, up to $10 monthly (through Sept. 30, 2027)
$120 in annual statement credits toward Peloton memberships, $10 monthly (through Dec. 31, 2027)
Complimentary DashPass membership with DoorDash, worth $120 (activation required, by Dec. 31, 2027)
The $300 annual travel credit, applied automatically to all purchases in the travel category and resetting each year on the anniversary date, is unchanged.
Unlike the travel credit, the new credits aren't applied automatically, and maximizing them requires some work on your part. They are also geared more toward lifestyle purchases rather than travel. That said, if you can utilize all of the credits to their maximum, that's the equivalent of more than $2,300, which would offset the annual fee by almost three times.
A travel benefit that's being added to the Chase Sapphire Reserve is automatic Platinum elite status with IHG One Rewards, the loyalty program of hotel chain IHG, which includes brands such as Holiday Inn, Intercontinental and Crowne Plaza.
Platinum is the second-highest of IHG's four elite levels and gets you, among other perks, 60% bonus points on IHG stays, a welcome amenity of points or a drink/snack, early check-in if available and guaranteed room availability within 72 hours.
IHG Platinum status also includes Five Star status with Hertz, which would otherwise require spending $2,400 on car rentals in a year. Five Star status gets you complimentary one-car-class upgrades when available and 25% bonus points on all Hertz rentals.
After spending $75,000 on the Chase Sapphire Reserve in a calendar year, cardholders will have access to the following additional perks:
IHG One Rewards Diamond status, the highest elite level in the IHG One Rewards program
Southwest Airlines A-List status
$500 Southwest Airlines credit (when booked through Chase Travel)
$250 credit for The Shops at Chase, an online shopping portal for cardmembers featuring brands such as Bang & Olufsen, Breitling, Cuisinart, Dyson, Ray-Ban, Samsonite, Sony and Tumi
While these are attractive perks, the threshold to unlock them is very high.
Some of the benefits that have made the Chase Sapphire Reserve one of the most popular travel cards at the high end of the credit-card market remain, including the benefits listed below.
$100 application fee credit every four years for Global Entry, TSA PreCheck or Nexus (note that the application fee for Global Entry recently increased to $120)
Access to Chase Sapphire Lounges at US airports with up to two guests and complimentary Priority Pass Select membership (activation required), allowing access to more than 1,200 airport lounges worldwide
Trip cancellation/interruption insurance, trip delay reimbursement, lost luggage reimbursement, baggage delay insurance, rental car protection, travel accident insurance and emergency evacuation assistance for trips booked with the card
The Chase Sapphire Reserve may not be the card for people who don't plan to use the numerous credits that can more offset the steep annual fee, which will be raised from $550 to $795 starting June 23. There are, however, other cards that offer travel benefits and could be an alternative.
A less expensive choice within the Chase credit card ecosystem is the Chase Sapphire Preferred, with an annual fee of $95. For that much more palatable cost, the Preferred still earns 3x points on dining and 2x on all travel, making it more attractive for travel expenses that aren't flights, hotels or Lyft rides.
The Capital One Venture X Rewards Credit Card, with an annual fee of $395, earns 10x on hotels and rental cars and 5x on flights booked through Capital One Travel. It also offers the same annual travel credit as the Chase Sapphire Reserve — $300 — when booking through Capital One. Crucially for many travelers, it also offers complimentary airline lounge access, both at Capital One's own airport lounges and Priority Pass lounges.
And with an annual fee of $695, the American Express Platinum Card currently sits alongside the Chase Sapphire Reserve at the top of the market — and is suddenly the cheaper to hold of the two. It offers many similar benefits to the Sapphire Reserve, a slew of statement credits and access to the American Express Membership Rewards ecosystem of transferable points. It also earns 5x points for flights booked directly with airlines or with American Express Travel, up to $500,000 on these purchases per calendar year and earns 5x points on prepaid hotels booked with American Express Travel. It also has the most comprehensive lounge access, including Priority Pass lounges, American Express Centurion lounges and Delta Sky Club (when flying eligible Delta flights, subject to visit limits).
The following FAQs have been answered by CNN Underscored senior money editor and credit card expert Alberto Riva.
Is the annual fee for the Chase Sapphire Reserve card increasing?
Is the annual fee for the Chase Sapphire Reserve card increasing?
Yes, the annual fee is increasing from $550 to $795 on June 23, 2025.
Will the Chase Sapphire Reserve card still have dining credits?
Will the Chase Sapphire Reserve card still have dining credits?
The Chase Sapphire Reserve card will continue to earn 3x on dining worldwide.
Will the Chase Sapphire Reserve card have a $10 monthly Lyft credit?
Will the Chase Sapphire Reserve card have a $10 monthly Lyft credit?
Yes, the Chase Sapphire Reserve will have up to $120 in annual Lyft credits, up to $10 monthly (through Sept. 30, 2027).
CNN Underscored's team of expert editors and contributors carefully reviews credit cards, travel rewards and loyalty programs to help readers navigate changes and make informed financial decisions. For this story on the Chase Sapphire Reserve updates, credit card expert Alberto Riva applied his years of industry knowledge to ensure every detail is accurate and actionable. Our recommendations are grounded in real-world value — not hype — and backed by thorough analysis, expert insight and a commitment to clarity and transparency.
Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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