Is the Chase Sapphire Reserve Annual Fee Worth It?
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Written by
Katherine Fan
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Edited by
Jasmin Baron
The Chase Sapphire Reserve® is one of the best travel rewards credit cards for frequent travelers. Best known for benefits like a generous annual travel credit and airport lounge access, it’s a staple in many travel household wallets.
Change is in the air. The Sapphire Reserve has undergone a glow-up, with a steep annual fee increase to match. Cardholders will receive new annual credits worth more than $1,400, and can earn up to 8 points per dollar on select travel purchases. New applicants can earn an impressive bonus: 125,000 points after spending $6,000 on purchases in the first three months of account opening.
But some changes will feel like losses for many cardholders, even before factoring in the new $795 annual fee, up from $550.
Key Chase Sapphire Reserve Benefits
The newly updated Chase Sapphire Reserve now offers more than $2,700 value in complimentary benefits and credits annually, but they’re not as easy to use as cash. Here’s what you should know about what’s new, what’s changing, and what’s staying the same.
Changes to Earning Rates
Moving forward, the new Chase Sapphire Reserve will earn Chase Ultimate Rewards® points at the following rates per dollar spent:
- 8x on all travel booked through Chase Travel after the card’s $300 annual travel credit has been spent
- 5x on eligible Lyft rides through Sept. 30, 2027
- 4x on flights and hotels booked directly
- 3x on dining worldwide, including takeout and delivery
- 1x on all other purchases
Cardholders can also earn 10x on Peloton equipment and accessory purchases of $150 or more through Dec. 31, 2027. (activation required)
The Sapphire Reserve will no longer earn bonus points on the following categories:
- 10x on Chase Dining
- 10x on hotels and rental cars booked through Chase Travel
- 5x on flights booked through Chase Travel
- 3x on all travel booked direct, including transit purchases
Points Boost vs. 1.5x Through Chase Travel
Chase will no longer offer a 50% redemption bonus on each point redeemed through Chase Travel, which made each point worth 1.5 cents toward the cash value of booked travel.
In its stead, Chase is implementing a new program called Points Boost. Sapphire Reserve cardmembers can redeem Chase points for 2x (2 cents each) on select rotating premium flights and hotels booked through Chase Travel, or 1x on non-Points Boost purchases.
Note: Points Boost also impacts cardholders of the Chase Sapphire Preferred® Card and the Ink Business Preferred® Credit Card.
New Annual Credits and Benefits
The Chase Sapphire Reserve comes with a slew of new credits. Some are offered semi-annually, while others are “use it or lose it” each month. Yet others may only require one-time activation.
- Complimentary IHG One Rewards Platinum Elite status (activation required)
- Primetime reservations at Sapphire Reserve Exclusive Tables, which can be booked through OpenTable
- $250 annual value through complimentary subscriptions to Apple TV+ and Apple Music (one-time activation required)
Semi-Annual Benefits
- Up to $500 credit toward hotel stays booked through The Edit℠ by Chase Travel, offered in two semi-annual credits of up to $250 from January to June, and up to $250 from July to December on stays with a two-night minimum
- Up to $300 dining credit toward Sapphire Reserve Exclusive Table purchases, applied as two semi-annual credits of up to $150 from January to June, and up to $150 from July to December on eligible transactions
- Up to $300 StubHub/Viagogo credit toward tickets for shows, concerts and more (up to $150 from January to June and up to $150 from July to December) (activation required)
Monthly Benefits
- Up to $120 yearly (up to $10 per month) toward Peloton fitness memberships (activation required)
Cardholder benefits that remain the same include:
- Airport lounge access to Chase Sapphire Lounges and Priority Pass Lounges (after enrollment)
- Up to $300 annual travel credit
- Up to $300 annual DoorDash promotional credits, doled out in monthly allotments of up to $5 toward restaurants and two $10 non-restaurant credits for groceries, beauty, electronics, etc.
- Complimentary DashPass membership worth $120 yearly
- $120 in annual Lyft in-app credits, doled out in monthly allotments of up to $10
- $120 credit every four years toward Global Entry, TSA PreCheck, or NEXUS enrollment
- Point transfers to Chase airline and hotel partners
- Complimentary travel insurance coverage
Bonus Benefits After Spending $75,000
Cardholders who spend $75,000 in a calendar year also get an additional set of benefits:
- IHG One Rewards Diamond Elite Status
- Southwest Airlines® A-List Status
- Up to $500 Southwest Airlines credit when booked through Chase Travel
- Up to $250 credit to The Shops at Chase, a new online shopping platform for purchasing select products with points or cash from brands
Annual Fee
The new Chase Sapphire Reserve annual fee is $795, up from $550. Authorized users will pay $195 apiece for most of the same benefits, including airport lounge access, up from the previous rate of $75.
For cardholders who applied before June 23, 2025, your new annual fee will be charged on your first renewal after Oct. 26, 2025.
When Changes Go Into Effect
Cardholders who apply and are approved for the new Chase Sapphire Reserve on or after June 23 will have these benefits from the first day of card ownership.
If you already have the Sapphire Reserve as of June 23, most of these changes will go into effect on your account on Oct. 26, 2025. Points Boost goes into effect on June 23.
When the Chase Sapphire Reserve Annual Fee Is Worth It
The newly updated Chase Sapphire Reserve is best for frequent travelers who regularly dine out, purchase tickets to shows and concerts, don’t mind booking travel through Chase Travel, and who often pass through airports with Chase Sapphire Lounges and Priority Pass lounges.
The ideal Chase Sapphire Reserve cardholder is someone who:
- Values Chase Ultimate Rewards points and booking through the Chase Travel portal
- Utilizes membership services like Peloton, Apple TV+ and Apple Music
- Regularly spends on dining and entertainment purchases, like concerts and shows
- Maximizes perks like airport lounge access, travel insurance and luxury hotel benefits
When the Chase Sapphire Reserve Annual Fee Is Not Worth It
The Sapphire Reserve isn’t the right fit for everyone, especially now that the annual fee has spiked to an industry precedent of $795 a year. The card is packed with luxury perks and valuable credits, but only makes sense if you can maximize most of them. For more casual spenders or infrequent travelers, the math may not work out.
This card probably isn’t a good fit if you:
- Travel a few times a year
- Prefer the financial simplicity of cash back or straightforward rewards
- Cannot easily track the card’s credits or maximize them without blowing your budget
- Don’t like booking travel through third-party sites like Chase Travel
Alternatives to the Chase Sapphire Reserve
If you’re looking for a travel card with solid benefits at a lower price point, consider these other options from our partners:
- Capital One Venture X Rewards Credit Card: Includes comparable benefits like a $300 annual travel credit and airport lounge access for a $395 annual fee
- Chase Sapphire Preferred® Card: Similar travel insurance coverage and earning Chase Ultimate Rewards points for an annual fee of $95
- The Platinum Card® from American Express : Premium lounge access and 5x Amex points on flights (on up to $500,000 in purchases per year, then 1x) for a $895 annual fee
- Bank of America Premium Rewards Elite: Offers discounts on travel purchases and more than $500 in annual statement credits for a $550 annual fee
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.
Frequently Asked Questions About the Chase Sapphire Reserve Annual Fee
What is the new Chase Sapphire Reserve annual fee?
The Chase Sapphire Reserve has a $795 annual fee, up from the previous rate of $550.
When will current cardholders begin paying the new annual fee?
Existing Sapphire Reserve cardholders who opened the card before June 23, 2025, will begin paying the new annual fee on their first credit card renewal date after Oct. 26, 2025.
When do the new Chase Sapphire Reserve benefits go into effect?
New cardholders will pay $795 a year off the bat and enjoy full benefits as soon as they receive the card. Existing cardholders get access to Points Boost on June 23, 2025, with all other benefits following on Oct. 26, 2025.
Is the new $795 annual fee worth it?
Yes, the Chase Sapphire Reserve’s $795 annual fee can be worth it if you can maximize most or all of the card’s new annual credits, including up to $500 in annual credit toward premium hotels booked through The Edit by Chase Travel, or up to $300 toward restaurants that participate in the Sapphire Reserve Exclusive Tables program.
Should I downgrade my Chase Sapphire Reserve to the Chase Sapphire Preferred?
Yes, you may want to consider downgrading your current Chase Sapphire Reserve to the $95 Chase Sapphire Preferred Card or the no-annual-fee Chase Freedom Unlimited® if the new annual fee is difficult to justify in your budget.
