The Chase Sapphire Reserve® is getting its biggest overhaul yet, and it’s a mixed bag of exciting new perks and a steeper price tag. With an annual fee jumping to $795, Chase is betting that cardholders will see value in over $2,700 worth of benefits and credits. Here’s what’s changing and whether it might be worth it for your wallet.

The New Annual Fee Reality

Let’s address the elephant in the room first: the annual fee is now $795, up significantly from the previous $550. Authorized user cards will cost an additional $195 annually. While that’s a substantial increase, the benefits and credits are meant to balance that out or make you come out on top if you use them right.

Changes to Earning Rates

The earning structure is changing in a couple of ways:

  • 8X points on Chase Travel℠ purchases (previously 5X points on flights and 10X points on hotels and car rentals booked through Chase Travel℠)
  • 4X points on flights and hotels booked direct (previously 3X points on all travel)
A woman booked an airline and hotel using points from her credit card.

Introducing Points Boost

Perhaps the most significant change is the new Points Boost feature. Your points are now worth up to 2X their value when booking select airlines and hotels through Chase Travel℠. The catch? Anything that doesn’t qualify for the 2X boost now earns just 1X value instead of the previous 1.5X rate. This means you’ll need to be more strategic about how you redeem your points.

One important note on the timing of this change: Points earned prior to October 26, 2025 by Sapphire Reserve cardmembers who applied prior to June 23, 2025 can be redeemed at 1.5X on Chase Travel℠ until October 26, 2027. For points earned prior to October 26, 2025, cardmembers will automatically receive the best offer available, whether it’s Points Boost or 1.5X on Chase Travel℠, maximizing rewards value for two years.

Travel Benefits That Actually Matter

These travel perks remain the same:

While these travel perks have been added:

  • Complimentary IHG One Rewards Platinum Elite Status
  • $500 annual The Edit credit – Chase Travel’s collection of over 1,100 hand-picked hotels and resorts

New Lifestyle Credits

This is where Chase is really trying to justify that higher annual fee with a suite of new lifestyle benefits:

  • $300 annual dining credit through OpenTable
  • $250 credit for Apple TV and Apple Music subscriptions
  • $300 StubHub credit for concert and event tickets
  • $120 annual Lyft credit ($10 monthly)
  • $420 in DoorDash benefits ($300 in monthly promos plus $120 DashPass membership credit)
  • Up to $120 annual Peloton membership credits
An existing cardholder checking new benefits of his credit card.

What Current Cardholders Need to Know

If you’re an existing cardholder who applied before June 23, 2025, you’ll start seeing these new benefits on October 26, 2025. Your annual fee won’t increase to $795 until your next anniversary date after that October deadline, giving you some time to decide if the new structure works for you.

The Bottom Line

Chase is clearly positioning the Sapphire Reserve as a premium lifestyle card that goes well beyond travel. With over $2,700 in potential annual value from credits alone, the math can work if you actually use these benefits. The key question is whether you’ll realistically take advantage of credits for everything from Apple subscriptions to Peloton memberships to make that $795 annual fee worthwhile.

For heavy travelers who also embrace the digital lifestyle these credits support, the refreshed Sapphire Reserve could deliver genuine value. For others, it might be time to consider whether a lower-fee card like the Chase Sapphire Preferred® Card better matches your spending patterns.

Additional Reading: Chase Launches New Card: Sapphire Reserve for Business℠