Just a few days back, I wrote about how the Amex Platinum Card polarizes opinions in the miles and points community, owing to its complex value proposition and high annual fee. A few weeks back, Chase made changes to their co-branded credit cards with United, giving us a possible glimpse into the future. Now, there are fresh rumors that the annual fee on the Chase Sapphire Reserve Card may also be going up.
Also Read: Massive Marriott Bonvoy welcome bonuses ending soon…
Chase Sapphire Reserve Card
The Chase Sapphire Reserve card is Chase’s top of the drawer card when it comes to consumer travel credit cards. As per chatter on Reddit, it seems like Chase may be making changes to the card and mimic some of the things than Amex has been doing lately.
What’s going on?
As per this post on Reddit, this person called Chase after upgrading the Chase Sapphire Preferred card to a Chase Sapphire Reserve. While discussing the annual fee on the card, the Chase rep accidentally may have leaked information about a possible increase in annual fee and upcoming changes to benefits.
I just upgraded my preferred to the reserve over the phone and my representative told me that the annual fee was $550. I heard that they may lower it if you ask so I did and she said that she couldn’t. She then said I was fortunate to have this fee as they are raising the annual fee to $795. When I asked her why it was being raised and what the new benefits would be to offset it she said, “I don’t even know why I told you that, I wasn’t supposed to say”. She would not really elaborate much further except for claiming there would be increased statement credits allegedly valuing $2,700. Has anyone heard of this?
According to another poster on this r/ChaseSapphire thread, the following changes could come into effect with a higher fee of $795.
Annual Fee
• $795 (AU $195)
Points
8x Chase Travel • 4x Flights and Hotels Booked Direct • 3x Dining • 1x All Else • 1:1 Redemption, Points Boost Travel Program
Travel Credits • $300 Travel Credit • TSA/Global Entry (up to $120 every 4 years) • $500 Edit Credit ($250 2X/Year)
Lifestyle Credits • $300 Dining Credit (Sapphire Reserve Tables, 2 x $150) • $300 StubHub (2 x $150) • $300 DoorDash credits (12 x $25) + $120 DashPass membership • $250 annually towards complimentary Apple TV+ and Apple Music subscriptions • $120 Lyft + 5% (12 x $10) • $120 Peloton + 10x Equipment (12 x $10)
$75k Spend tier benefit Benefit details
$75k spend tier benefits include: • $500 Southwest Airlines Statement Credit on Chase Travel: Get up to $500 in statement credits when you book Southwest Flights through Chase Travel. • Southwest Airlines A-List status. • IHG One Rewards Diamond Elite Status. • $250 The Shops at Chase Statement Credit
The Pundit’s Mantra
In the past, we’ve seen some rumors turn out to be true while other have simply frizzled out. Nevertheless, I won’t be surprised if this really turns out to be true. Why? We’re already seeing a precedent set with the way Chase has recently refreshed their United credit cards. They’ve largely followed the same templates as Amex: higher annual fee, lots of credits with their partners and benefits while booking via their own portals.
In contrast, I’m glad that the Chase Sapphire Preferred card still only charges an annual fee of $95. I have carried this card in my wallet for a decade and continue to do so. At the moment the Chase Sapphire Preferred is offering a limited time welcome bonus of 100,000 Ultimate Rewards points. This offer will end soon on May 15, 2025.
If you’re currently a Chase Sapphire Reserve cardholder, will you keep or cancel if these changes go into effect? Tell us in the comments section.
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I will definitely be downgrading to the Preferred if this change goes into effect. It’s not worth the price to essentially get a coupon book for a bunch of companies/services that I don’t use.
I viewed the $550 fee as acceptable since the $300 travel credit (for me) makes the annual fee $250. Doubling my “real fee” is unacceptable. I will move to Chase Reserve or AMEX.
Yes, I’m sure this will Chase some people away from Chase 🙂
That’s ridiculous. 1.5x is great but not at that annual fee. 1.25x at 99 is a much better deal. Would need a TON of added benefits.
Agree!
I absolutely will cancel. The benefits are not worth the rise in cost. Priority pass stinks and has gone down hill. I felt the trip cancelation/interruption was a good benefit, until I had to actually use it and was denied. So just don’t see the point. Will downgrade also to preferred.
Agree, the PP issues are something many are running into.
They apply the same rules for trip delay between Reserve and Preferred with the exception of a 12hr delay vs a 6hr delay. I’ve used it twice, twice on Preferred (once before they changed benefit contractors) and once on Reserve. All successful for what I expected…just know to get a “weather delay” justifying letter, consider the delay length (less of an issue with 6 hours) and limit to taxi, food and hotel (no new flights!). My 3 months of bliss with Reserve might come crashing to end UNLESS they add a few strategic non-Priority Pass lounges but I’d keep Preferred for flights.
I will drop the card if they raise the fee . Priority pass has become useless. I have two other cards with the TSA benefit and the ultimate rewards plan is pretty much useless when it comes to booking travel. This new thing they do where the charge points plus nearly half the price of the booking in fees makes them to expensive to use. So essentially the only benefit to them is the points but even with the points, they are limited to which airlines they can be transferred to.
Curious to know, which booking fees are you referring to?
I’m not sure if this would be worth it for me. I would downgrade or leave the whole chase credit card system. I hope they do not do this.
I only got the Chase Sapphire Reserve when it was just launched and had the 100k points bonus. Other than that, the Sapphire Preferred card has been a long term keeper card for me.
I’ve been a member for almost ten years now but will downgrade to Preferred. It’s just not worth the extra cost for the reasons many have already given.
I agree. Preferred is a great option for the $95 fee.
I will cancel. Way too expensive and won’t use the partner benefits.
Exactly. The initial $450 fee with the $300 travel credit was the best value proposition.
I know the monthly credits are designed so that most people won’t be able to cash in on their full benefits but still give CC companies the ability to tout the full “value”. It’s so frustrating! Who needs a $10mo lyft credit?!? We need a $30 quarterly, $60 bi-annual or just the whole $120 annual credit for us to use as needed that would have actual “value” and make the higher annual fee worth it. When you have to start using mathematical equations, create spreadsheets, and set monthly alarms to make sure you’re getting your money’s worth to justify the high annual fee – that’s work and frankly I don’t need another job. Give those “credits” annually and I wouldn’t blink at the $795 fee, or even open a lounge in LAX (before 2027)
It’s the same model that Amex follows, Chase is simply copying them. Sad but this seems to be where things are heading…
I would gladly pay $800 for that list of credits. (Except I don’t know what the Edit Credit is
It’s a collection of select hotels by Chase.
I will gladly keep my CSR (along with my Amex Platinum and Gold cards plus a dozen or so hotel/airline cards). Sure it takes effort and I have a spreadsheet to keep up with all the various credits but I get more value than the AF out of all my cards and will also get it with the reported changes to the CSR. Also, you didn’t mention the Sapphire Lounge access, insurance and other benefits of the card.
Well it makes sense to have a lot of cards only if you travel a lot and shop with their partners.
Chase’s model does feel stale, but I don’t see Chase beating Amex at their own game. Chase should double-down on its advantages; increasing the Reserve’s annual fee and offering 4x on dining would give the card some newfound buzz (and also undermine the Amex Gold Card). It would also help separate the CSR from the CSP.
I agree, but I’m pretty sure that they hired some dude from Amex who said we can do this here as well 🙂