Chase Increases Sapphire Reserve Annual Fee by 45%: Are the New Perks Worth It?
Chase announced sweeping changes to its Sapphire Reserve card.

Many changes are coming to the Chase Sapphire Reserve® card. Of note, Chase announced a 45% increase of the card’s annual fee, going from $550 to $795.
This is the largest annual fee increase on the card since 2016, per CNBC. However, to counter the higher fee, Chase said there will be more than $2,700 in annual benefits.
On top of this, the new fee won't go into effect right away. Thanks to the Credit Card Accountability Responsibility and Disclosures Act of 2009, credit card companies have to give at least 45 days notice before employing new fees.
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This means if you're an existing cardholder, the new fee won't kick in until October 26, which is when most of the new perks for you will start. The point boost redemptions begin on June 23.
If you're a new cardholder on or after June 23, you'll pay the higher annual fee, but have immediate access to all perks.
So what’s new with the card? And are the perks enough to justify the fee? We’ll break it down.
Chase Sapphire Reserve: What’s new?
New for the Chase Sapphire Reserve are elevated travel perks. Cardholders can earn up to eight times the points when booking hotels, flights, cruises, rental cars and activities through Chase Travel.
Also new, you can earn four times the points on airline or hotel purchases when booked directly. Speaking of hotel purchases, receive up to $500 cash back annually on hotel purchases booked through The Edit.
What’s The Edit? The Edit is Chase’s collection of premium hotels, where your points are worth up to double the value for redemption on stays or premium cabin flights booked through eligible airlines. Just keep in mind you’ll need a two-night minimum stay to qualify and any purchases made through The Edit don’t qualify for points.
Redemption for this program breaks down into two cycles. You can receive a statement credit of $250 for purchases made from January through June, and another $250 cash back in statement credits for purchases made the rest of the year.
Another new feature is complimentary IHG Platinum Elite status. With it, you receive:
- Reward stay discounts
- Up to 60% off stays
- Early check-in, when available
- You can roll over nights to next year
- A welcome gift
- Guaranteed room availability within 72 hours
Save on dining, streaming
Another new perk for cardholders is a $300 dining credit for purchases as part of the Chase Sapphire Reserve Exclusives Table Program. This program features 275 of the most sought-after restaurants in the country, from Charleston to San Francisco.
Redemption works similar to The Edit in that you’ll earn up to $150 in statement credits for purchases made from January through June, and up to another $150 for qualifying purchases for the rest of the year.
To use this incentive, you’ll need to sign up for an OpenTable account, which is a digital reservation platform. From there, add your Chase Sapphire Reserve card and find eligible restaurants.
Chase also partnered with Apple to give cardholders streaming perks. Starting on June 23, cardholders receive a free subscription to Apple Music and Apple TV Plus, a value of $250 annually.
Chase Sapphire Reserve customers receive a free subscription to Apple TV Plus. Stream hit shows, watch Friday night baseball and much more.
Chase also added new incentives for entertainment and fitness. Earn up to $300 cash back on purchases made through StubHub or viagogo, with redemption broken down into $150 increments biannually.
Peloton users can work up a sweat and save in the process. Cardholders earn 10 times the points on hardware and accessory purchases, up to 50,000 points. And starting on June 23, you’ll receive up to $120 cash back annually on Peloton memberships.
Elevated spend perks
Cardholders charging $75,000 or more annually receive the following perks:
- Southwest A-list Status
- IHG One Rewards Diamond Elite Status
- $500 in Southwest Airlines credit when you book through Chase Travel
- A $250 credit to The Shops at Chase
Is the elevated fee worth it?
It depends on what your aims are for the card.
To demonstrate, if you’re an avid traveler, the $300 annual credit coupled with the $500 you can receive for booking hotels and flights through The Edit will offset the annual fee on its own. And keep in mind when you book hotels through The Edit, you receive other perks like a $100 resort credit, complimentary breakfast for two and room upgrades.
Therefore, the travel perks make it worth it if you use it enough. However, if you don’t travel often enough to make the annual fee justifiable, there are credit cards offering excellent cash back incentives on travel and other purchases without having to pay as much.
Of note is the Capital One Venture X Rewards Credit Card. It carries a much more affordable annual fee of $395, and you can earn 10 times the miles on hotel and rental car purchases made through Capital One Travel or five times the miles on flights and vacation rentals through Capital One Travel. You’ll also receive an unlimited double the miles on every purchase you make.
Therefore, while Chase's new card features offer many perks, there are other cards that give you many incentives, for far less of an annual fee.
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Sean is a veteran personal finance writer, with over 10 years of experience. He's written finance guides on insurance, savings, travel and more for CNET, Bankrate and GOBankingRates.
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