Chase Sapphire Reserve is getting a massive upgrade—packed with perks, expanded rewards, and a steep annual fee hike to match. The refreshed card will be launched on June 23 and promises cardholders over $2,700 worth of value. Learn more about the updated card.
One of the best travel rewards credit cards It’s getting a new look. The Chase Sapphire Reserve will relaunch on June 23, with a bolder program that’s rich with benefits—and a higher annual fee to go along with it.
Chris Reagan said, “It’s almost been 10 years since Sapphire launched and we believe we really found something special when we did.” Reagan spoke at a New York media event on June 9, where he was the president of Chase branded cards. But we know the industry has changed significantly since then.
That, as well as extensive customer research from the brand, has led Chase to rethink the premium card, which will now come at an annual fee of $795, up from $550—a 44.5 percent increase for the consumer.
Sam Palmer said, “We will be bringing greater benefits and value to the areas in which our current members have the most passion,” stated Sam Palmer.
Palmer says that the new Chase Sapphire Reserve version will offer “over 2,700 dollars in value to card members.” The new Chase Sapphire Reserve card offers a $300 travel credit and $500 for Chase’s hotel collection. The Edit. There are also other perks, such as a free Apple TV+ membership, a credit of $300 for DoorDash, and a credit of $300 on tickets purchased via StubHub. A $120 credit to spend on things like tickets, is a quintessential reward. Global Entry and TSA Precheck, remains an important feature of the card.
Chase also offers other benefits. Palmer gave the example of “exclusive reservations in prime times at our favorite restaurants throughout the country.” The chosen restaurants—grouped together in the so-called Reserve Exclusive Tables program—are selected by The Infatuation, in partnership with OpenTable. The 300+ restaurants that cardholders can dine at with a $300 dining credit include popular spots like Che Fico in San Francisco, Estela in New York, and Frasca in Denver. The cardholder will also be automatically enrolled in IHG One Reward at the Platinum Elite level. This would require 40 nights spent at IHG hotels.
The Chase Sapphire Reserve offers statement credits, perks and powerful points earning capabilities. It also allows flexible redemption options. Chase points can also be redeemed at multiple brands of hotels and airlines, as opposed to just one. The new earning structure has been tweaked by the company with the relaunch.
Chase has provided an overview of the new card’s features:
- Chase Travel offers 8x the points for all purchases
- Direct bookings of flights and hotels can save you up to 4 times on the cost
- 3x on dining
- 5x for “eligible Lyft” rides including Standard, Extra Comfort XL, Black or Black SUV, Black SUV, XL and Black.
- Other, everyday expenditures: 1x
Chase has introduced a program called Points Boost. It is a “new point redemption accelerator program”, which replaces a benefit that was part of the Sapphire Reserve for many years. Now, instead of earning 1.5x points on all reservations, users will receive dynamic discounts.
Palmer provided an example to illustrate the process: Emirates This summer, you can get a business-class flight from New York City to Milan. As part of the Points Boost Program, if a 350,000 Ultimate Reward points flight was offered, a card holder could find that it is offered for half price, or 177,000 Points. Chase is no longer offering a simple 1.5x earnings structure for purchases, but instead discounts on redemptions. Chase also makes it difficult to know if or when these Points Boosts opportunities will come up.
Paul Brady/Travel + Leisure
Access to lounges will also remain a key feature. The card grants “access to lounges”. Chase Sapphire Lounge by The Club network of airport lounges and entry to over 1,300 lounges with Priority Pass Select, and more than 20 select Air Canada Maple Leaf Lounges and Air Canada Cafés when traveling on a Star Alliance airline,” according to the company. This includes some of the world’s most impressive loungesSuch as the fab, two-story lounge at New York’s LaGuardia Airport. Palmer noted that “you can bring up to 2 guests at no charge each time you visit one of our lounges, or Priority Pass Lounges.” Chase Reserve Travel Designers are available to help with planning and support for trips.
A second element of the new look will appeal to sole-proprietors and small-business owners. The first-ever Sapphire Business Card will launch on June 23, too. The new Sapphire Reserve for Business is expected to have the same features and benefits as the flagship Sapphire card. It will also offer a few extras for corporate users such as credit for ZipRecruiter charges and Google Workspace costs.
The two new Chase credit cards will be on sale next week, June 23. Although executives have hinted that the card relaunch will include a large sign-up bonus for new cardholders, details on how many points they can earn are not yet known.
