One of the most popular travel credit cards of all time is getting a major facelift—and a much higher annual fee. The Chase Sapphire Reserve credit card will soon have a new look and updated annual benefits, including new credits worth nearly $1,500 that can go toward travel, dining, and lifestyle purchases, to go with its increased annual fee of $795.
Additionally, cardholders can now earn up to eight Chase Ultimate Rewards points per dollar (8x) on travel purchases made through the Chase Travel portal, where they can then redeem their credit card points for travel purchases. Through a new feature called Points Boost, cardholders of the refreshed Chase Sapphire Reserve essentially get “discounts” when redeeming points for select premium flights and hotels.
Because of this refresh, the Chase Sapphire Reserve is losing a few key benefits that some cardholders have long held since the credit card first debuted nearly ten years ago. But some of the card’s most beloved perks remain untouched, including its comprehensive travel insurance benefits and the flexible $300 annual travel credit. Here’s everything you should know about the Chase Sapphire Reserve’s changes, which go into effect on June 23.
What is the Chase Sapphire Reserve’s new annual fee?
The Chase Sapphire Reserve’s annual fee increases to $795 on June 23, up from the current rate of $550 yearly. This price point is the highest we’ve seen yet among premium travel rewards credit cards; The Platinum Card® from American Express currently charges a $695 annual fee.
To get additional cards for authorized users (like, say, a spouse or a child), you'll have to pay $195 a year for that extra card; currently, that fee is just $75. The authorized user receives all the same benefits you get as the primary cardholder, including airport lounge access privileges.
What are the Chase Sapphire Reserve’s new annual credits?
The Chase Sapphire Reserve is getting new annual credits that add up to nearly $1,500 in value, which can offset the increased annual fee.
For travel, most useful are a new annual credit for eligible hotel stays booked through the Chase Travel portal worth up to $500 (two-night minimum required); dining credits at restaurants that partner with Chase’s Reserved by Sapphire program worth up to $300 (no activation required); and credits for buying tickets through StubHub or Viagogo worth up to $300 (activation required). All of these benefits are split into bi-yearly credits; you can use up to 50% of the credit in the first half of the year, then the remaining 50% in the latter.
Additionally, cardholders of the new Chase Sapphire Reserve get up to $250 in annual credit for Apple Music and Apple TV+ (one-time activation required), and up to $120 for Peloton purchases like a membership (received in $10 monthly increments).
If you can maximize just two or three of these benefits each year—say, the $500 hotels credit and the $300 restaurants credit—you’ll essentially earn back the Sapphire Reserve’s new annual fee of $795. Just remember that many of these credits only apply to select purchases through Chase partners, and you can only use up to half of the annual credit in any given six-month period. You’ll have to do a little bit of work to track your purchases and take advantage of each credit as it becomes available to use.
What are the points earning rates for the new Chase Sapphire Reserve?
The new Chase Sapphire Reserve now earns eight points per dollar (8x) on all travel booked through Chase Travel; five points per dollar (5x) on eligible Lyft rides; four points per dollar (4x) on direct bookings made with airlines and hotels; three points per dollar (3x) on dining; 10 points per dollar (10x) on eligible Peloton equipment purchases, and one point per dollar (1x) on everything else.
Compared to the current rates on the Chase Sapphire Reserve, the new card will earn more on flights booked through Chase Travel but less on hotels and rental cars booked through Chase Travel (currently 5x on flights and 10x on hotels booked through Chase Travel ). It also earns slightly more on flights and hotel stays booked directly with the travel provider (currently 3x).
As for restaurants, the new card will earn significantly less on purchases made through Chase Dining (currently 10x), but the same amount on regular dining (currently 3x).
With the new Chase Sapphire Reserve, cardholders lose all bonus rewards on transit, which now earn just one point per dollar spent (1x). The Peloton equipment bonus stays the same.
How does the new Points Boost feature work?
Points Boost will replace the Chase Sapphire Reserve’s current bonus system on all Chase Travel bookings, where each Chase Ultimate Reward point gets a 1.5x bonus, meaning a flight that ordinarily costs 75,000 points to book through Chase Travel would only cost 50,000 points for a traveler with a Chase Sapphire Reserve.
From October 26, 2025 onward, Points Boost will allow Chase Sapphire Reserve cardholders to redeem their Chase points with 2x bonus when booking through Chase Travel, but only on select premium hotels and flights. Qualifying flights and hotels will change periodically, but hotel stays booked through The Edit by Chase Travel, the platform's curated selection of travel partners, will always qualify for Points Boost.
All other non-Points Boost redemptions through Chase Travel are worth one point per cent (1x). It's a loss worth repeating plainly: Chase Sapphire Reserve cardholders will eventually lose the 1.5x bonus on their points when making travel purchases through the Chase Travel portal.
However, there's a window of flexibility: Cardholders who apply for and receive the Chase Sapphire Reserve before June 23 will get access to Points Boost on that date, and points earned before October 26, 2025, can still be redeemed at 1.5x for Chase Travel until October 26, 2027. Existing cardholders automatically receive the best rate: either 2x through Points Boost or 1.5x through Chase Travel. After October 26, 2027, all points will follow standard (1x) or Points Boost (2x) redemption rates.
That said, with or without Points Boost, Chase Sapphire Reserve cardholders typically get the most value out of their credit card points by transferring them to airlines and hotels that partner with Chase. Since Points Boost primarily rewards customers who are booking business class and premium economy flights and staying at higher-end hotels, frugal travelers may find better deals by booking award travel directly through Chase transfer partners.
What are the other new benefits of the updated Chase Sapphire Reserve?
Beginning June 23, all Chase Sapphire Reserve cardholders will get IHG Platinum elite status—the hotel loyalty program's second-highest tier—after enrolling in this benefit. To activate elite status, cardholders must log into their IHG accounts and link their Chase accounts through their Chase online dashboard or mobile app. IHG Platinum benefits include a 60% bonus on points earned during stays, complimentary room upgrades (when available), and the ability to request early check-in. They also receive a welcome amenity (points or a drink/snack) and guaranteed room availability 72 hours prior to arrival.
Additionally, cardholders who spend $75,000 or more on the Chase Sapphire Reserve in a calendar year unlock another batch of benefits, including top-tier IHG Diamond elite status (activation required); a travel credit on Southwest Airlines booked through Chase Travel worth up to $500; complimentary Southwest Airlines A-List elite status; and a credit worth up to $250 for The Shops at Chase, a new retail platform that allows you to shop with brands like Bang & Olufsen, Dyson, and Samsonite by paying with points, by cash, or both.
Each of these benefits offers some value, but they’re only useful if you travel or shop with these companies. For what it's worth, Southwest significantly devalued its loyalty program beginning late 2024, so A-List status is much more restrictive than it was 12 months ago. And as for The Shops at Chase, it’s rarely a good idea to pay for retail purchases with your credit card points, which are far more lucrative when used to pay for premium travel.
What benefits are staying the same on the Chase Sapphire Reserve?
Many of the Chase Sapphire Reserve’s best features remain intact for now. The card’s flexible $300 annual travel credit remains one of the best credit card perks on the market, since the credit automatically appears on your statement after any eligible purchase, from a flight or a hotel stay to a cruise or highway tolls. Cardholders continue to enjoy a credit for TSA PreCheck/Global Entry enrollment, as well as monthly credits for eligible Lyft and DoorDash purchases. There will be no changes to the card’s travel insurance and points transfer partner program, cardholders can still bring up to two guests per visit to Chase Sapphire Lounges and Priority Pass lounges (after enrollment).
Who should get (or keep) the new Chase Sapphire Reserve?
The Chase Sapphire Reserve’s new annual fee makes this card a hard sell for homebodies. However, it’s more valuable than ever for frequent flyers who dine out often and purchase tickets to live shows, enjoy Apple TV and Apple Music, and utilize Chase’s point transfer partners to get the most value out of their credit card rewards.
