The Chase Sapphire Reserve® is undergoing significant changes. Chase recently announced new rewards rates on travel spending, adjustments to how points are valued when redeemed for travel, and a range of new benefits. These changes include statement credits for various merchants, potentially worth over $1,000 a year. However, with these enhancements comes an increase in the annual fee to $795, effective June 23, 2025.
These changes will take effect on June 23, 2025. Existing cardholders and those who applied for the card on or before that date will start receiving the new benefits and features on Oct. 26, 2025, and will be subject to the new annual fee upon their next card renewal.
Chase has not yet disclosed whether the card’s sign-up bonus will change when the new version of the card launches on June 23. However, several modifications are expected for the Chase Sapphire Reserve®.
Increased annual fee
The annual fee for the Chase Sapphire Reserve® is rising to $795. This represents a $245 hike from the previous fee of $550, making it one of the most expensive credit cards available — $100 more than the fee for its competitor, The Platinum Card® from American Express. (Coincidentally, AmEx has also hinted at a forthcoming overhaul of the Platinum card later this year, without providing specifics.)
The Chase Sapphire Reserve® is also bumping up the annual fee for authorized users to $195 (from $75).
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Chase has also revealed plans to introduce a business version of the Chase Sapphire Reserve® on June 23, 2025. The new Chase Sapphire Reserve for Business will offer similar benefits and rewards as the updated consumer version, along with statement credits for business services like Google Workspace and ZipRecruiter. The card will carry a $795 annual fee as well.
Revised rewards earning rates
Rewards rates for travel purchases made with the Chase Sapphire Reserve® are being modified. Hotels and rental cars booked through Chase will now earn fewer points, while flights booked through Chase will earn more points. Hotel stays and flights booked directly will earn 4 points per dollar, up from the previous 3 points.
However, all other travel purchases — such as those from cruise lines, travel agencies, and others — will now earn only 1 point per dollar, a significant reduction from the previous 3X rate that applied to all travel not booked through Chase.
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The card’s dining rewards remain unchanged, as does its base rate of 1 point per dollar on all purchases that do not fall into any bonus categories.
‘Points Boost’ for redemptions in the portal
Chase is also adjusting how points are valued when redeemed for travel booked through Chase’s portal. Since the launch of the Chase Sapphire Reserve® in 2016, cardholders have been able to redeem their Ultimate Rewards® pointsChase Fee Higher Major Perks Rates Reserve Sapphire