Big Changes to the Chase Sapphire Reserve: New Benefits, Higher Annual Fee

If you have the Chase Sapphire Reserve® (or thinking about it), listen up.

Chase recently announced a major overhaul of its flagship premium card. The Sapphire Reserve is getting a bunch of new perks, a new look, and a higher annual fee. We’re talking over $2,000 in annual credits, updated earning rates, and the launch of a brand-spanking-new Sapphire Reserve for Business℠.

Here’s what’s changing, what’s staying the same, and whether the updated Sapphire Reserve deserves a spot in your wallet.

Higher Annual Fee, But With More Perks

Y’all know the rules… bad news first. The Sapphire Reserve’s annual fee is increasing from $550 to $795 per year, and authorized user fees will now be $195. That’s a pretty steep hike, putting it pretty close to The Platinum Card® from American Express in price. But, Chase is loading the new version with lots more value that should make that fee worth it.

Chase says that you can get over $2,700 in value if you take advantage of the card’s full suite of benefits.

Key Dates to Know

• June 23, 2025: The new Sapphire Reserve officially launches to new applicants. Existing cardholders get access to new Points Boost program.

• Starting October 26, 2025: Existing cardholders will automatically receive the new benefits, annual fee adjusts to $795, and each authorized user fee increases to $195 on your cardholder anniversary date.

• Until October 26, 2027: Points earned prior to October 26, 2025, can be redeemed at the 1.5x value on Chase Travel^SM until October 26, 2027. If Points Boost is available, you’ll automatically receive the best offer available.

Sapphire Reserve’s New Rewards Structure

Here’s where things get interesting (and a little bittersweet). You’re now looking at:

• 8x points on all purchases through Chase Travel (was 5x to 10x on select categories)

• 5x points on eligible Lyft rides (through 9/30/27)

• 4x points on flights and hotels booked directly (was 3x on general travel)

• 3x points on dining worldwide (unchanged)

That means you’ll lose the old 3x on general travel outside of Chase Travel bookings (hence the bittersweet comment). But, if that’s a dealbreaker, consider keeping the Chase Sapphire Preferred® Card, which still earns 2x on general travel and is not changing in this way.

New and Existing Statement Credits

Ok, grab your favorite snack, because this credit list is long and pretty freaking great. Chase is going all-in on lifestyle-friendly perks, and here’s the full breakdown:

Travel Benefits and Lounge Access

While there are some familiar favorites sticking around, there are also some new benefits that should excite you. The Sapphire Reserve will now come with:

• Access to the Chase Sapphire Lounges by The Club (with free guest access — at least for now)

• Access to more than 1,300 Priority Pass Lounges

• Access to more than 20 Air Canada Maple Leaf Lounges (when flying Star Alliance)

• Complimentary IHG One Rewards Platinum Elite Status (through 12/31/27), with an upgrade to Diamond Elite after $75k in annual spend

• Personalized trip support via Reserve Travel Designers

• Top-notch travel insurance protections (primary car rental coverage, trip delay, lost baggage, etc.)

New Points Boost Program

Chase is introducing a new redemption option: Points Boost. Instead of 1.5 cents per point in the Chase Travel portal, new points will redeem at the base rate, unless you use Points Boost.

Here’s how it works:

• Get up to 2 cents per point on select hotels and flights (mostly premium economy and business class)

• Offers will appear directly in the portal (think business-class flights over the pond for half the usual points)

• New and old cardholders will both gain access starting October 26, 2025

• Points earned prior to October 26, 2025 (and by Sapphire Reserve cardmembers who applied prior to June 23, 2025) can still be redeemed at 1.5x through October 2027

• Chase says thousands of discounted flights will be available, especially in premium economy and business class

• You can also use Chase’s Points + Cash feature for boosted redemptions

• Any other purchases not eligible for Points Boost can be redeemed at 1x

Be mindful that the Sapphire Preferred is also losing its 1.25 travel redemption rate but will also gain access to Points Boost, so that card will stay relevant for those wanting a smaller fee.

Bonus Perks for Big Spenders

Spend $75,000 on your Sapphire Reserve in a calendar year, and you’ll unlock:

• IHG One Rewards Diamond Elite Status

• Southwest A-List Status + $500 flight credit when booked through Chase Travel

• $250 credit to spend at The Shops at Chase (on brands like Dyson, Sony, and Tumi)

Nice extras, but $75K is a big lift. For most people, these are bonuses — not goals.

What’s Going Away

• No more 3x points on general travel (like trains, taxis, or OTAs)

• No more 1.5x redemptions in the Chase Travel portal (only for new points after Oct 26, 2025)

That second one hurts. But if you earned points before October 26, 2025, you’ll still get the 1.5x value until October 2027.

Should You Upgrade or Apply?

If you’re already holding the Sapphire Reserve and you make the most of your current travel credit, there’s a good chance these new benefits will work in your favor, especially if you regularly dine out, attend events, or book travel through Chase Travel.

Here’s who it’s best for:

✅ Frequent travelers who book through Chase Travel
✅ People who eat out often and can use the $300 dining credit
✅ Anyone looking to maximize redemptions through Points Boost

Keep in mind:

• You’ll now be able to hold both the Sapphire Preferred and Sapphire Reserve (more on bonus eligibility coming soon)

• If you upgrade your Sapphire Preferred between June 17 and June 23, you’ll be grandfathered into the $550 annual fee for the first year, but won’t get a new welcome offer

Other Cards to Consider

Still not sure if the new Sapphire Reserve is for you? Thankfully, there are some other solid options out there for you, including:

• American Express® Gold Card — great for foodies, with 4x points back at restaurants (up to $50,000 per year, then 1x after that) and U.S. supermarkets (up to $25,000 per year, then 1x after that)

• Capital One Venture X Rewards Credit Card — a lower-fee premium card that still has lounge access plus 2x miles on everything

• Sapphire Preferred — our favorite entry-level card with solid points back on travel and dining

• Amex Platinum — loaded with premium perks and monthly credits, pretty similar to the Sapphire Reserve, but with access to a different pool of transfer partners

Bottom Line

Chase is doubling down on some premium perks with this refresh.

The new Sapphire Reserve is clearly built for people who travel, eat, and live a premium lifestyle. While the $795 annual fee isn’t cheap, the credits and upgrades can easily outweigh the cost for those who maximize them.

Just don’t let the perks go to waste, because if you’re not actively using those biannual credits or booking through Chase Travel, this refresh could easily become an expensive mistake.

But if you are? The new Sapphire Reserve (and its business sibling) might just be your new favorite travel companion.