Chase Announces Massive Sapphire Reserve Changes: More Benefits, Higher Fee and a New Business Card Coming Soon
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Written by
Jasmin Baron
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Edited by
Emily Gadd
The Chase Sapphire Reserve® is among the best travel credit cards on the market, offering premium perks such as airport lounge access, an annual travel credit worth up to $300 and top-notch travel insurance.
Chase has unveiled a major overhaul to the card, effective June 23, 2025. It’s adding a slew of valuable benefits and statement credits, and updating earning rates in several categories. But the new perks come at a cost: The Sapphire Reserve’s annual fee, previously $550, is jumping to a whopping $795.
The issuer also revealed details of the new Chase Sapphire Reserve for Business card, launching on the same date. It will offer many of the same benefits, as well as unique credits specifically for small-business owners. It will also charge a $795 annual fee.
Let’s dig through the Chase Sapphire Reserve updates to help you understand what’s changing and decide if these cards are worth it for you.
Chase Sapphire Reserve Changes at a Glance
Annual Fee Increase
It’s not unusual for issuers to bump the annual fee when a card refreshes its benefits. The Chase Sapphire Reserve annual fee increase from $550 to $795 is hefty, though, and makes it significantly pricier than competing premium cards such as our partners, The Platinum Card® from American Express ($695 annual fee) and Capital One Venture X Rewards Credit Card ($395 annual fee).
The Sapphire Reserve’s authorized user annual fee is also getting a bump from $75 to $195 per additional cardholder.
Changes to Earning Rates
The Sapphire Reserve has long been regarded by experts as one of the top credit cards for travel spending, in part because it earns lucrative Chase Ultimate Rewards® points at high rates in travel categories.
Here are the current earning rates for reference:
- 10 points per dollar on hotel stays (excluding The Edit) and car rentals booked through Chase Travel℠ (note 10x on travel purchased through Chase only applies after the first $300 is spent on travel each year)
- 10 points per dollar on Chase Dining purchases made using your card through the Ultimate Rewards program
- 5 points per dollar on flights booked through Chase Travel (after the first $300 is spent on travel purchases annually)
- 3 points per dollar on other travel (after the $300 annual travel credit is earned)
- 3 points per dollar on dining worldwide
- 1 point per dollar on other purchases
These are the new Sapphire Reserve earning rates that go into effect June 23:
- 8 points per dollar on all Chase Travel purchases (instead of 5x on flights and 10x on hotels and car rentals booked through Chase Travel)
- 4 points per dollar on flights and hotels booked directly (instead of 3x points on all other travel)
- 3 points per dollar on dining worldwide (including eligible delivery)
- 1 point per dollar on other purchases
The most noteworthy change is the shift to earning 1x on travel purchases that aren’t made through Chase Travel or booked directly from an airline or hotel. Chase’s definition of travel is quite broad, so the removal of the 3x “other travel” category is a big loss for those who used the card to pay for things like car rentals, cruises, trains, taxis and parking lots.
That said, the increase from 3x to 4x on direct purchases of airfare and hotel stays is a plus for those who spend a lot in those categories.
New Benefits and Credits
According to Chase, the Sapphire Reserve will offer over $2,700 in annual cardmember value. These are some of the new perks to expect:
- Up to $500 in annual credit for The Edit: Cardholders will receive up to $500 per year (split into up to $250 from January to June and up to $250 from July to December) in statement credits for prepaid, minimum two-night bookings made with The Edit, Chase’s collection of luxury hotels and resorts. The Edit bookings come with complimentary benefits like a $100 property credit, daily breakfast for two and room upgrades when available.
- Up to $300 in annual dining credit: Again, this credit is split — up to $150 from January to June and up to $150 from July to December in statement credits toward dining at restaurants that are part of the new Sapphire Reserve Exclusive Tables. This platform gives cardholders access to prime-time reservations at well-known, high-demand restaurants.
- Up to $300 in StubHub and Viagogo credit: Also split, cardholders get up to $150 from January to June and up to $150 from July to December in statement credits toward StubHub and Viagogo purchases (activation required).
- $250 in annual value with Apple TV+ and Apple Music: Cardholders receive a complimentary subscription to Apple TV+ and Apple Music, worth $250 annually (activation required).
- Up to $120 annual credit toward Peloton Membership: Cardholders can get up $10 per month in statement credits toward eligible Peloton All-Access Membership, Rental, App+, Guide, App One and Strength+ memberships, in addition to earning 10x points on Peloton and accessory purchases over $150, through Dec. 31, 2027 (activation required).
- IHG One Rewards Platinum Elite status: Once activated, cardholders can enjoy complimentary IHG One Rewards Platinum status through Dec. 31, 2027. This status tier comes with 60% bonus points on paid stays, room upgrades when available, a welcome amenity, and early check-in/late checkout when available.
That’s a lot of new perks to manage, but if you’re able to use them all, they represent a value that far exceeds the annual fee bump.
Fortunately, most of the card’s other top perks aren’t changing. Cardholders will still receive:
- Up to $300 in annual travel credit: This credit applies to a wide variety of travel purchases (however, purchases that qualify for the credit still don’t earn points).
- Global Entry, TSA PreCheck or NEXUS credit: Up to $120 every four years when you charge the application fee to the card.
- Airport lounge access: Primary cardholders and authorized users receive a Priority Pass Select membership (enrollment required), as well as access to Chase Sapphire Lounges by The Club and select Air Canada Maple Leaf Lounges/Air Canada Café locations in the U.S., Canada and Europe with an eligible Star Alliance boarding pass. Up to two guests are allowed.
- Up to $120 in annual Lyft in-app credits: Through Sept. 30, 2027, cardholders get up to $10 in monthly Lyft in-app credits and earn 5x total points on Lyft rides.
- DoorDash and DashPass benefits: Cardholders can enroll in a complimentary DoorDash DashPass membership by Dec. 31, 2027 (worth $120 per year), and receive up to $25 in monthly promos — a $5 restaurant promo and two $10 promos for non-restaurant orders.
- Travel insurance: Chase Sapphire travel insurance is among the best in the business, and those perks aren’t changing. Sapphire Reserve cardholders will still receive generous protections, including primary car rental insurance, trip cancellation/interruption coverage and trip delay reimbursement.
More Perks for Big Spenders
The Sapphire Reserve will also offer additional benefits for members who spend at least $75,000 each calendar year on their card, including:
- IHG One Rewards Diamond Elite status: This tier offers 100% bonus points on paid stays and a few more benefits than the Platinum level.
- Up to $500 in Southwest Airlines Chase Travel credit: Cardholders receive up to $500 in statement credits when they book Southwest flights through Chase Travel.
- Southwest Airlines A-List status: This elite tier comes with priority boarding, a free first checked bag on Southwest, bonus points on paid flights, and dedicated lanes at Southwest check-in counters and at security, among other perks.
- Up to $250 in credit for The Shops at Chase: Cardholders receive up to $250 in statement credits toward purchases through The Shops at Chase, an exclusive online shopping platform.
These perks kick in for the remainder of the year in which cardholders spend at least $75,000, and through the following calendar year. If you’re a big spender, it could be worth shifting some purchases to the Sapphire Reserve to unlock these additional perks.
Chase Travel Points Boost
Previously, one of the most appealing Chase Sapphire Reserve benefits was the additional value it offered when redeeming points through Chase Travel. Cardholders received a 50% bonus when using rewards this way, with each point worth 1.5 cents instead of 1 cent when booking through Chase’s portal.
This is changing. Starting June 23, Chase will roll out its Points Boost feature, which will allow cardholders to redeem Ultimate Rewards points at a higher rate of up to 2x when booking select airline tickets and hotels through Chase Travel. This will replace the 1.5 cents per point on all Chase Travel redemptions.
Existing cardholders who applied before June 23 will also get access to Points Boost, but will still be able to redeem points earned before Oct. 26, 2025, at the old 1.5x rate until Oct. 26, 2027 (or through Points Boost, whichever offer is better). After that date, the 1:1 rate will apply except to Points Boost offers.
Note: Other Chase credit cards, including the Chase Sapphire Preferred® Card and Ink Business Preferred® Credit Card, will also get access to Points Boost. Previously, these cards offered a value of 1.25 cents per point on Chase Travel bookings, but will shift to offering up to 1.5x on select airlines and hotels, and 1.75x on premium cabin tickets with select airlines. The same date restrictions apply.
Other Updates for Existing Cardholders
If you opened the Chase Sapphire Reserve before June 23, 2025, other new benefits (except Points Boost) will kick in for you starting Oct. 26, 2025. You can expect to see your annual fee adjusted to $795 — and each authorized user to $195 — on your next card anniversary date following Oct. 26.
New Chase Sapphire Reserve for Business Card Details
Also on June 23, Chase will launch the new Sapphire Reserve for Business card. It, too, will have a $795 annual fee ($0 for employee cards) and will be a Visa Infinite card.
Here’s what we know so far.
Sapphire Reserve for Business Earning Rates
Sapphire Reserve for Business cardholders will earn Ultimate Rewards points at the following rates:
- 8 points per dollar on Chase Travel purchases
- 4 points per dollar on flights and hotels booked directly
- 3 points per dollar on social media and search engine advertising
- 1 point per dollar on other purchases
Statement Credits and Benefits
On the benefits side, the Sapphire Reserve for Business will have many of the same perks as its personal sibling, including:
- Up to $300 in annual travel credit
- Up to $120 in Global Entry, TSA PreCheck or NEXUS credit
- Up to $500 in annual The Edit credit
- DoorDash and DashPass benefits (enrollment required)
- Lyft benefits
- Access to Points Boost
- IHG One Rewards Platinum Elite status (not available for employee cardholders)
- Access to Chase Sapphire Reserve Exclusive Tables (no statement credits)
Unique Perks
Sapphire Reserve for Business cardholders get a few extras not found on the personal version of the card, including:
- Up to $400 in annual ZipRecruiter credit: Split into up to $200 from January to June and up to $200 from July to December in statement credits toward purchases made directly with ZipRecuiter.
- Up to $200 in annual Google Workspace credit: Earn up to $200 per year in statement credits toward purchases made directly on Google Workspace.
- Up to $100 in Giftcards.com credit: Split into up to $50 from January to June and up to $50 from July to December in statement credits toward gift cards purchased from giftcards.com/reservebusiness.
- Access to two credit lines: Pay in Full (requires the balance to be fully paid each month) and Flex for Business (allowing for payments over time, with interest).
Airport Lounge Access
Notably, only primary Sapphire Reserve for Business cardholders receive airport lounge access (not employee cardholders).
Additional Benefits for High Spending
If you spend $120,000 on the Sapphire Reserve for Business in a calendar year, you’ll earn additional benefits for the remainder of that calendar year and the entire next year:
- IHG One Rewards Diamond Elite status
- Southwest Airlines A-List Status
- Up to $500 in annual Southwest Airlines Chase Travel credit (employee purchases will not qualify)
- Up to $500 in annual Shops at Chase credit
Bottom Line
The changes to the Chase Sapphire Reserve, especially the new benefits and statement credits, could offer huge value to cardholders who can take full advantage. However, many of the credits are split into monthly or biannual chunks, which can be inconvenient to track and maximize.
The annual fee change from $550 to $795 is significant, no matter how it’s justified by additional perks. A yearly cost of nearly $800 upfront requires careful consideration, whether you’re an existing cardholder or considering applying.
Meanwhile, the Sapphire Reserve for Business looks to be an interesting option for small-business owners, but again, it’s important to see if its perks make the annual fee worthwhile for you. What remains to be seen is the welcome bonus, if any, when it properly launches on June 23, and how that factors into the card’s value.
The information related to the Chase Sapphire Reserve® and Ink Business Preferred® Credit Card was collected by CardCritics™ and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see issuer website for current information. CardCritics™ does not receive a commission for this product.
