Overview
The Chase Sapphire Reserve® has been one of the most popular premium rewards credit cards in the market for years now. But after four years of no changes, the card has received a makeover. And a long overdue business version.
Opinions on the new look card are divided, with some enjoying the added potential and huge bonus. But others are reeling at the new astronomical annual fee and complex statement credit perks.
Let’s take a look at what’s changed.
What’s happened?
Chase released the new card on June 23rd after teasing with a marketing campaign headed by supermodel Claudia Schiffer. The angle suggested a “high-end” product was on the way, and the issuer more than delivered.
As well as adding an improved intro bonus, overhauling the previous earning rates, and bumping the annual fee to a whopping $795, Chase introduced a slew of statement credits and redemption changes that are proving controversial for value-minded customers.
Here’s a full summary of the card’s changes.
New intro bonus of 100,000 points plus $500 Chase Travel℠ promo credit. To earn the bonus, customers must spend $5,000 within three months of opening the card. This offer is up from the previous 60,000-point bonus.
A new annual fee of $795. This is up from the previous fee of $550.
Bonus earning categories:
8 points per dollar on all Chase Travel℠ purchases. Down from 10 points per dollar on hotels and rental cars, but up from 5 points per dollar on flights
4 points per dollar on flights and hotels booked directly with the airline or hotel. Up from 3x points per dollar
3 points per dollar on dining worldwide remains the same
All other travel has dropped to 1 point per dollar from 3 points per dollar
5 points per dollar on eligible Lyft rides (Through Sept 30th, 2027) and 10 points per dollar on eligible Peloton rides (Through Dec 20th, 2027) remain unchanged
While the popular annual $300 travel statement credit remains unchanged and immensely flexible, the card now has a number of other statement credits.
$500 annual credit for stays with The Edit℠ Chase’s luxury hotel collection
$300 dining credits for participating restaurants (split into biannual $150 segments)
$250 annual in Apple TV+ and Apple Music subscriptions
$120 DashPass membership
$300 annual in DoorDash promos ($5 a month on restaurant orders, two $10 promos a month on groceries, retail, and others)
$300 annual in StubHub credits (Split into biannual $150 segments)
$120 annual in Lyft Credits ($10 a month)
$120 annual in Peloton credits ($10 a month)
The card now offers holders complimentary IHG One Rewards Platinum Elite Status
After spending $75,000 in a calendar year, cardholders get access to:
IHG Diamond Elite Status
Southwest Airlines A-List Status
A $500 statement credit for Southwest flights booked via Chase TravelSM
A $250 credit for Chase’s shopping portal, The Shops at Chase
The previous 50% points boost on Chase TravelSM is being replaced by a variable “points boost” system. This will boost some redemptions by 100% and others not at all.
Lounge access has been improved. It now includes
Complimentary Priority Pass Select membership
Access to Chase Sapphire lounges
Air Canada Maple Leaf Lounge access when flying Star Alliance
All the other benefits, including travel insurance, and Global Entry/TSA PreCheck/NEXUS, remain the same.
- Best for: Luxury Travel
- Annual Fee: $795
- APR: 20.24% - 28.74% Variable
- Reward Rate: 1X - 10X
- Recommended Credit: 740-850
Chase Sapphire Reserve®
100,000 bonus points
Offer Details:
Earn 100,000 bonus points + $500 Chase TravelSM promo credit after you spend $5,000 on purchases in the first 3 months from account opening.
Why we like it
This card just got a major re-vamp and you can now get more than $2,700 in annual value with Sapphire Reserve!
Reward details
8x points on Chase TravelSM
4x points on flights and hotels booked direct
3x points on dining
1x points on all other purchases
Pros & Cons
Pros
-
The points are worth up to 2 cents a piece when used directly on Chase’s Ultimate Rewards Portal, offering a simple but high-value use for your points.
-
Plenty of excellent transfer partners allow points to be maximized
-
Some excellent partnerships with Doordash and Lyft add to its value.
-
Priority Pass membership allows access to over 1,300+ airport lounges and restaurants.
Cons
-
It’s subject to Chase’s 5/24 rule. So if you’ve opened five cards in the last two years, you’re most likely not going to be accepted.
-
Chase has a once-per-lifetime rule for sign-up bonuses on their Sapphire cards, including the Sapphire Preferred, Sapphire Reserve, and Sapphire Reserve for Business. So, once you’ve earned a welcome bonus on any of these cards, you’ll never be eligible for the bonus again on the same card.
Terms Apply
Are The Changes Good?
The answer to that question will differ based on who you ask. While increasing the earning rate on flights and hotels is good, dropping the rates on other travel with frustrate cruisers, car renters, and other people who enjoyed the previously broad travel category. Similarly, the new statement credits have the potential to be worth over $2,000. But these require the cardholders to find value in them first — few customers will be able to use all of the benefits.
With this in mind, the new look card will be spectacular for the right customer and disappointing for others.
The Arrival of a Business Card
The Sapphire credit card line is late to the premium business card party by a few years. Amex and Capital One both already have business versions of their premium consumer cards, so the arrival of a Sapphire Reserve for Business℠ Card is welcome news.
The Sapphire Reserve for Business℠ launched with the same $795 annual fee as its consumer sibling, but threw in a massive 200,000-point introductory offer. To earn those points, you’ll need to spend $30,000 within the first six months of opening the card. While that feels like a lot, it’s a generous offer compared to some other business cards.
The card follows a similar pattern to its sibling card, opting for the same earning rates for travel and a similar assembly of statement credits. There are some key differences, however, that make this card extremely appealing to the modern business owner. Here’s a full overview of its offerings.
Intro bonus of 200,000 points earned by spending $30,000 within six months of opening the card. As it’s a new card, it’s unclear if this is a limited-time offer or if it will remain at that figure.
An annual fee of $795
Bonus earning categories:
8 points per dollar on all Chase Travel℠ purchases.
4 points per dollar on flights and hotels booked directly with the airline or hotel.
3 points per dollar on social media and search engine advertising purchases
5 points per dollar on eligible Lyft rides through Sept 30th, 2027
All other purchases are 1 point per dollar
Statement credits
$300 annual travel statement credit
Global Entry/ TSA PreCheck/ NEXUS application fee statement credit up to $120
$120 annual DashPass membership
$300 annual in DoorDash promos ($5 a month on restaurant orders, two $10 promos a month on groceries, retail, and others)
$500 annual credit for stays with The EditSM Chase’s luxury hotel collection
Up to $400 Zip Recruiter Credit
Up to $200 Google Workspace credit
$120 in Lyft Credits ($10 a month)
Lounge access
Complimentary Priority Pass Select membership
Access to Chase Sapphire lounges
Air Canada Maple Leaf Lounge access when flying Star Alliance
Complimentary IHG One Rewards Platinum Elite Status
After spending $120,000 in a calendar year, cardholders get access to:
IHG Diamond Elite Status
Southwest Airlines A-List Status
A $500 statement credit for Southwest flights booked via Chase TravelSM
A $500 credit for Chase’s shopping portal, The Shops at Chase
The Point
While similar in many ways, the Chase Sapphire Reserve® and the Sapphire Reserve for Business℠ cater to different markets. They both offer tremendous value for the right person, but can both be hard to maximize unless the statement credits match the lifestyle or business habits.
- Best for: Luxury Travel
- Annual Fee: $795
- APR: 20.24% - 28.74% Variable
- Reward Rate: 1X - 10X
- Recommended Credit: 740-850
Chase Sapphire Reserve®
100,000 bonus points
Offer Details:
Earn 100,000 bonus points + $500 Chase TravelSM promo credit after you spend $5,000 on purchases in the first 3 months from account opening.
Why we like it
This card just got a major re-vamp and you can now get more than $2,700 in annual value with Sapphire Reserve!
Reward details
8x points on Chase TravelSM
4x points on flights and hotels booked direct
3x points on dining
1x points on all other purchases
Pros & Cons
Pros
-
The points are worth up to 2 cents a piece when used directly on Chase’s Ultimate Rewards Portal, offering a simple but high-value use for your points.
-
Plenty of excellent transfer partners allow points to be maximized
-
Some excellent partnerships with Doordash and Lyft add to its value.
-
Priority Pass membership allows access to over 1,300+ airport lounges and restaurants.
Cons
-
It’s subject to Chase’s 5/24 rule. So if you’ve opened five cards in the last two years, you’re most likely not going to be accepted.
-
Chase has a once-per-lifetime rule for sign-up bonuses on their Sapphire cards, including the Sapphire Preferred, Sapphire Reserve, and Sapphire Reserve for Business. So, once you’ve earned a welcome bonus on any of these cards, you’ll never be eligible for the bonus again on the same card.
by your friends at The Daily Navigator
