The Chase Sapphire Reserve card is getting a significant update this summer, and it's not just about a higher annual fee. The card, known for its premium travel benefits, is set to introduce new earning rates, statement credits, and other perks. But with a jump from 550 to 795 dollars in annual fees, is it still a good deal?

        Let's dive into what's changing and what's staying the same. The card's annual fee is now the highest in its class, but Chase is adding multiple new features to make up for it. For starters, there are new statement credits for travel and lifestyle spending. Cardholders will also get complimentary status with IHG Hotels and Resorts and some new perks after reaching a minimum spend threshold.

        One of the most notable changes is the introduction of Points Boost, a new points accelerator. This replaces the current 50% boost when redeeming Chase Ultimate Rewards points through Chase Travel. Existing cardholders will have a two-year grace period to use the old benefits.

        The card design is also getting an update. Current cardholders will receive the new card after their current one expires. Interestingly, cardholders can now hold both the Sapphire Reserve and the Chase Sapphire Preferred Card at the same time.

        So, what's staying the same? The flexible 300 dollar annual travel credit on each cardmember anniversary remains. So do the Global Entry, TSA PreCheck or Nexus credit, lounge access, and travel protections.

        New applicants approved for the card on or after June 23 will immediately unlock the new perks but will also incur the higher annual fee. Cardmembers approved before this date will gain access to Points Boost on June 23 and the rest of the benefits on Oct. 26, 2025. The higher annual fee will be charged on their next renewal on or after that date.

        The new credits are designed to offset the annual fee increase, but they're most useful if you already spend with the designated merchants. The 75, 000 dollar spending requirement to unlock premium perks is steep and may not be attainable for some cardholders.

        The earning rates are also changing. Flights and hotels booked directly will now earn 4 points per dollar, up from 3. However, general travel, including cruises and vacation rentals, will now earn just 1 point per dollar, down from 3. This could be a downside for those who frequently book these types of travel.

        The new perks center on travel and lifestyle purchases, such as streaming and dining. They add up to more than 2, 300 dollars, which can easily offset the annual fee if you can maximize these credits. However, it may take some organization to keep track of every benefit, especially if you're already managing multiple statement credits from other cards.

        The Chase Sapphire Reserve was introduced in 2016 and last overhauled in 2021. The premium card market continues to evolve, and it's becoming more common for these cards to add more statement credits to justify rising annual fees. The Sapphire Reserve's new additions align it more closely with its American Express counterpart, The Platinum Card.

        So, is the updated Chase Sapphire Reserve worth it? It depends on your spending habits and travel goals. If you can maximize the new credits and perks, it could be a great deal. But if you're not a frequent traveler or don't spend much with the designated merchants, the high annual fee might not be worth it. It's important to weigh the benefits and costs before making a decision. If you're interested in upgrading or downgrading your card, contact Chase's customer service line to start the process. However, since the new annual fee won't post until your next renewal on or after Oct. 26, you should hold off on making any decisions until you can try out the benefits for yourself.

Changes to Chase Sapphire Reserve: Is It Still Worth It?

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