Chase Sapphire Reserve Credit Card gets a huge facelift: Benefits, annual fees, how to get it
Chase Sapphire Reserve Credit Card: America's largest credit card issuer Chase announced major changes to its Chase Sapphire Reserve card on Tuesday.
Popular among credit card enthusiasts who like to collect points as well as travel enthusiasts, this credit card issued by JPMorgan Chase & Co will now offer extended benefits to its customers – perhaps making it the best one for those who like to travel.
How to get Chase Sapphire Reserve credit card?
Chase Sapphire Reserve credit card is one of the best credit cards for points enthusiasts. And while there is no official word from the company about what exactly is required to get this coveted card, your credit score should be good enough to get a hold of it.
Earnings also matter when you apply for any credit card. In this case, it can be assumed that like all other credit cards, the Chase Sapphire Reserve credit card requires you to earn enough to cover the annual fee and the credit line.
You may be denied a Chase credit card if you've opened five or more credit cards in the previous 24 months, according to a report by CNBC.
Also Read | American Express to make largest ever investment in Platinum Credit Cards
Chase Sapphire Reserve benefits
With the new look, Chase has unveiled added benefits for its Sapphire Reserve credit card. It has also unveiled a Sapphire Reserve for Business card for customers who spend $120,000 a year.
Customers who book their flights within the Chase Travel portal now earning 8x Ultimate Rewards points, up from 5x previously.
You can also earn 8x rewards on bookings for hotels, rental cars, cruises, activities, and tours.
If you book flights and hotels with the companies' portals through Chase Sapphire Reserve credit card, you can earn 4x reward points, instead of the current 3x.
However, dining purchases will keep earning 3x reward points through the Chase Sapphire Reserve credit card.
The perks further include a credit at a new online store called Shops at Chase. Cardholders will further get special status at IHG Hotels & Resorts and Southwest Airlines.
A new feature called Points Boost, which is set to launch on June 23 for existing cardholders, raises the value of each point from 1.5 cents to 2 cents per point on certain specific airline routes.
Also Read | THESE 6 credit cards are a good bet for shoppers, check list here
Chase Sapphire Reserve credit card fees
With all the benefits in place, the annual fees of the Chase Sapphire Reserve credit card has gone up markedly.
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Mint
22-06-2025
- Mint
The most exclusive credit cards are about to get even more expensive
When JPMorgan Chase said it was raising the annual fee by 45% on its popular Sapphire Reserve credit card, longtime cardholder David O'Brien didn't notice. 'My eyes glaze over with this stuff," said the 36-year-old New York lawyer. Until a reporter told him that the fee will soon rise to $795, from $550, he assumed he had been paying less than $100 a year. A brief shock, acknowledged with an expletive, gave way to acceptance. Top credit card companies have stumbled on a winning formula at odds with almost every other sector of America's inflation-obsessed economy: Raising their prices is good for business. Already sold by the status the cards convey, a large number of customers are willing to eat the costs. This is JPMorgan's third and largest increase to its annual fee for the Sapphire Reserve card since it was launched in 2016 at $450 a year. It takes effect Monday for new customers and in October for existing customers. American Express, whose Platinum card usually carries the heftiest fee in its market segment, is expected to raise its $695 fee—even higher than the Sapphire Reserve's—in its fall refresh, analysts say. 'I've been surprised at the ability to continue to extract higher pricing," said Moshe Orenbuch, a managing director at TD Securities. When the Sapphire Reserve launched, analysts doubted there was much appetite for triple-digit annual fees. 'Issuers have been positively surprised at how many of those folks there are." Price hikes make the cards appear more exclusive. Except rather than offering a luxury good such as a diamond ring or fancy ride, the companies offer the chance to spend more. The cards' allure 'can lead to behaviors that you can't justify" based on function alone, said Derek Rucker, a marketing professor at Northwestern's Kellogg School of Management. 'That's where the math doesn't have to make sense," he said. Theoretically, the math can make sense. Chase touts the more than $2,700 in annual value on its refreshed Reserve card, including hotel and dining credits and travel perks. Amex Platinum offers similar benefits for frequent travelers. O'Brien, the New York lawyer, said that despite the fee increase, he expects the math to work out for keeping his Sapphire Reserve card. He regularly uses points from the card to book flights and hotel stays, and says lounge access offsets the cost of a few pricey airport cocktails. But many perks go unredeemed. According to the latest data from the Consumer Financial Protection Bureau, cardholders earned over $40 billion in rewards in 2022, yet more than $33 billion went unclaimed—a 40% jump since before the pandemic. The average account sat on $150 in unused perks. A dining room at the American Express Centurion New York restaurant. Redemption now requires more effort than ever before. Jacob Moon, a 36-year-old investment banker in Los Angeles, didn't mind the fee increase, but bristled at the fine print. Many perks are delivered in increments and expire monthly. For instance, Chase is advertising a $500 hotel credit as a new benefit with the Sapphire Reserve. But half of the credit must be used in the first six months of the year, and half of it in the last six months. 'For the amount I spend, I want freedom, not a schedule," Moon said. 'This card is giving me homework." Such complexity favors users who track every point and benefit—and banks know that. Regardless of whether perks are redeemed, the card issuer collects the fee. 'The vast majority of people will see all that as a headache," said Greg Davis-Kean, founder of travel website Frequent Miler. Chase has taken steps to streamline its rewards. Cardholders now earn eight points per dollar on all travel booked through its portal—previously, different rates applied to flights and hotels. Chase also shows unclaimed benefits in its app. 'We're all about getting customers to redeem 100% of their benefits," said Allison Beer, CEO of card and connected commerce at Chase. The higher fees will inevitably be too much for some customers to swallow. That might be the point, said Patrick Mrozowski, the founder of Atlas, a credit card company that charges a $1,000 annual fee and offers cardholders access to a concierge service, including help securing hard-to-get reservations at such restaurants as New York's The Corner Store. 'Maybe their overall number of customers drops, but the level of engagement from the core base increases, and that's a better way to grow," Mrozowski said. Chase said it doesn't expect significant attrition from its Sapphire Reserve revamp, but acknowledged that some customers might decide to downgrade to the lower-fee Preferred card or opt out entirely. A Bank of America Global Research survey earlier this month found that only 9% of Chase cardholders said they would cancel their most-used premium card if the annual fee increased by $100. Michael Andeberhan, a 44-year-old who works in asset management, carries both the Sapphire Reserve and the Amex Platinum and keeps a close eye on whether he's getting his money's worth from each. But with the prospect of higher annual fees on both cards, he's starting to question whether two is too many. Having two cards divides his spending, and each credit card company reserves its best perks for customers who spend the most on their cards. For example, cardholders who charge more than $75,000 a year on a Chase card unlock top-tier status at IHG Hotels and Resorts. 'Is it worth having two premium cards?" Andeberhan said. 'Because you can only spend your money on one card." Write to Imani Moise at and Jacob Passy at
Mint
17-06-2025
- Mint
Chase Sapphire Reserve Credit Card gets a huge facelift: Benefits, annual fees, how to get it
Chase Sapphire Reserve Credit Card: America's largest credit card issuer Chase announced major changes to its Chase Sapphire Reserve card on Tuesday. Popular among credit card enthusiasts who like to collect points as well as travel enthusiasts, this credit card issued by JPMorgan Chase & Co will now offer extended benefits to its customers – perhaps making it the best one for those who like to travel. How to get Chase Sapphire Reserve credit card? Chase Sapphire Reserve credit card is one of the best credit cards for points enthusiasts. And while there is no official word from the company about what exactly is required to get this coveted card, your credit score should be good enough to get a hold of it. Earnings also matter when you apply for any credit card. In this case, it can be assumed that like all other credit cards, the Chase Sapphire Reserve credit card requires you to earn enough to cover the annual fee and the credit line. You may be denied a Chase credit card if you've opened five or more credit cards in the previous 24 months, according to a report by CNBC. Also Read | American Express to make largest ever investment in Platinum Credit Cards Chase Sapphire Reserve benefits With the new look, Chase has unveiled added benefits for its Sapphire Reserve credit card. It has also unveiled a Sapphire Reserve for Business card for customers who spend $120,000 a year. Customers who book their flights within the Chase Travel portal now earning 8x Ultimate Rewards points, up from 5x previously. You can also earn 8x rewards on bookings for hotels, rental cars, cruises, activities, and tours. If you book flights and hotels with the companies' portals through Chase Sapphire Reserve credit card, you can earn 4x reward points, instead of the current 3x. However, dining purchases will keep earning 3x reward points through the Chase Sapphire Reserve credit card. The perks further include a credit at a new online store called Shops at Chase. Cardholders will further get special status at IHG Hotels & Resorts and Southwest Airlines. A new feature called Points Boost, which is set to launch on June 23 for existing cardholders, raises the value of each point from 1.5 cents to 2 cents per point on certain specific airline routes. Also Read | THESE 6 credit cards are a good bet for shoppers, check list here Chase Sapphire Reserve credit card fees With all the benefits in place, the annual fees of the Chase Sapphire Reserve credit card has gone up markedly.
Time of India
17-06-2025
- Time of India
Sapphire Reserve: Amex, JPMorgan Chase tease major updates amid intensifying credit card battle
Sapphire Reserve, Amex rivalry Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Chase Sapphire Reserve is getting a major update and it's coming at a higher cost which includes a higher annual fee of $795. Chase is also launching the Chase Sapphire Reserve for Business card as a premium luxury business travel card, reports Bloomberg as part of an overhaul marking the biggest US bank's latest volley in the ultra-competitive world of premium credit cards JPMorgan Chase on Tuesday unveiled an update to its premium credit card, which will now carry a $795 annual fee, a 45% jump from its previous level. The development at a time when American Express teased updates coming later this year to its travel-focused Platinum credit cards, announcing what it called its 'largest investment ever' in a credit-card long-running rivalry between the country's top premium credit cards is about to heat up again. While JPMorgan Chase announced last week that a revamp of its popular Sapphire Reserve card — known for its travel and dining perks since its viral 2016 debut — is on the also is now offering complimentary subscriptions to Apple's (AAPL) Apple TV+ and Apple Music through June 22, 2027; up to $300 annually in DoorDash (DASH) credits; up to $300 annually in StubHub credits for concert and event tickets; and up to $500 annually in hotel credits for some prepaid bookings made through The Edit by Chase response, American Express revealed Monday that significant updates are planned for both its consumer and business Platinum cards later this year. Though details remain scarce, the company described the upcoming changes as its most substantial investment in a card refresh to date.'We're going to take these cards to a new level, not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel,' Howard Grosfield, Amex's group president for US consumer services, said in a statement raised its Platinum card annual fee to $695 in July 2021, when it also added $200 in annual hotel credits. Since then, the New York-based company has faced intensifying competition for premium credit-card customers, including from JPMorgan Chase & Co.'s Sapphire Reserve card and Capital One Financial Corp.'s Venture X Rewards Express was a trailblazer in the premium credit card market, introducing cards that combined travel and hotel perks with access to its exclusive airport lounges. That dominance was challenged in 2016 when JPMorgan disrupted the space with its Sapphire card, offering a generous sign-up bonus and a range of attractive analysts expect the rivalry to intensify, with both companies likely expanding their offerings in travel, dining, and experiences—while also potentially increasing annual fees, a trend seen in recent the Amex Platinum card carries a $695 annual fee, compared to $550 for the JPMorgan Sapphire has surfaced on Reddit and other online forums that JPMorgan may raise the Sapphire's annual fee to $795, though a company spokesperson declined to address the to Grosfield, the updated Platinum card is scheduled to debut this fall.
