We’ve shared some incredible adventures exploring the world together, and your elegant metal design has always captivated me. However, things took a turn for the worse out of the blue, becoming complex and costly, prompting us to bid farewell.
I believe you are aware of your recent actions, but for those who may be unaware:
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Your annual fee is being raised to $795, a 45% increase.
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You are introducing several credits, which are neither automatic nor easy to utilize.
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You are eliminating travel as a bonus category, replacing it with only direct bookings with the airline or hotel.
It might be difficult to accept, but I have already found a new card to replace you in my wallet in recent months. While it may lack all of your newly added features, I never sought them out in the first place. Instead, I have opted for a card that is half your age, offers simplicity, and essentially pays me to hold it.
Simpler Value, Fewer Hassles

I have gone to great lengths to maximize the value of credit card rewards and benefits. However, with life becoming increasingly hectic, the appeal of simplicity is hard to resist.
Upon reviewing the new benefits for Chase Sapphire Reserve® cardholders, I was overwhelmed. Monthly credits here, semi-annual credits there. Most significantly, these credits are for places that require extra effort to utilize, such as an annual $500 credit for prepaid reservations through The Edit, Chase’s luxury hotel program. Personally, I do not make prepaid reservations, and I typically use points for hotel stays.
Another example is the $300 dining credit at Sapphire Reserve Exclusive Tables restaurants. While I appreciate a nice meal, these restaurants are located in specific cities where I do not reside.
To me, this is not worth a $795 annual fee. I was willing to pay the previous annual fee of $550 to access a superior $300 travel credit (which remains unchanged) and 1.5 cent per point redemptions through Chase’s travel portal. However, these redemptions have now been replaced with Chase’s variable “Points Boost” redemptions, offering 2 cents per point of value. For all other travel portal redemptions not labeled “Points Boost,” you will only receive 1 cent per point of value (a 33% devaluation).
In contrast, the Capital One Venture X Rewards Credit Card has a lower annual fee of $395, and includes an annual $300 travel credit for any travel booked through Capital One’s travel portal. Coupled with the 10,000 anniversary miles (valued at least $100) I receive every year, the card essentially has a negative annual fee for me.
» Learn more: Why I might finally get the
Simpler Earning Structure
Simultaneously, the Chase Sapphire Reserve® is revamping its bonus categories.
The new version will earn 4 points per dollar spent on direct bookings with an airline or hotel, but only 1 point per dollar on other travel expenses, such as car rentals, trains, and online travel agencies (like Expedia or Hotels.com). As someone who frequently spends on “other travel” and typically books flights and hotels with points, this change significantly impacts the card’s value proposition for my spending habits.
On the other hand, the Capital One Venture X Rewards Credit Card offers a straightforward 2 miles per dollar on all purchases not booked through Capital One Travel. (Capital One Travel bookings earn between 5 and 10 miles per dollar.) In my view, this makes the Capital One Venture X Rewards Credit Card a clear winner.
Capital One Lounge Access
It may be a controversial opinion, but airport lounges are not as impressive as one might think. The majority of my lounge experiences have been through the Priority Pass membership that is included with many credit cards, and those spaces have consistently left me underwhelmed.