Rumors have been swirling that major changes to the Chase Sapphire Reserve card are on their way, and that a new Sapphire business card is coming too. I took a few steps to prepare so that I’d be ready to take advantage of new perks and (likely) big new welcome offers. What’s the rush? The blog, Miles Earn & Burn, reported that a “trustworthy anonymous source” said that Sapphire Reserve changes will be officially announced on June 17, and the changes will go live on June 21. That’s really soon!
Background
About a month ago, a Reddit user posted leaked information about changes coming the Sapphire Reserve card (Stephen covered the details here). Then, early this week, Chase launched an advertising campaign saying that a refreshed Sapphire Reserve card will be coming this summer. Additionally, they teased with an image of a business card that most suspect will be a business version of the Sapphire Reserve (see Stephen’s post about the business card, here). Here are the rumored Sapphire Reserve changes:
- Annual fee – Increasing from $550 to $795
- Earning categories:
- 8x Chase Travel bookings (currently 10x for hotels and cars and 5x for flights)
- 4x flights & hotels booked directly (currently 3x on all travel)
- 3x dining (same as current)
- 1x everywhere else (same as current)
- Maintained coupons:
- $25 per month DoorDash credit
- $120 DoorDash DashPass credit
- $10 per month Lyft credit
- Added coupons:
- $10 per month Peloton credit
- $250 twice-annual Edit credit (Chase’s version of Amex Fine Hotels & Resorts) (i.e. $500 per year)
- $150 twice-annual dining credit via Sapphire Reserve Tables (i.e. $300 per year)
- $150 twice-annual StubHub credit (i.e. $300 per year)
- $250 Apple TV+ & Apple Music credit
- Spend $75,000 in a year & receive:
- $500 Southwest credit
- Southwest A-List status
- IHG Diamond status
- $250 The Shops credit
In addition to big new annual fees, it’s likely that the new/changed cards will come with big new welcome bonuses. Here’s what I’ve done to prepare for both…
Consumer Sapphire Reserve Annual Fee
The consumer Sapphire Reserve card is expected to increase its annual fee from $550 to $795. If you currently have a Sapphire Reserve card, I wouldn’t expect you to get charged the new annual fee until the end of your current account year. However, you’ll probably get access to many if not all of the Sapphire Reserve’s new features / coupons right away. Therefore, if you’re interested in the new card but don’t yet have a Sapphire Reserve, it can make sense to upgrade from a Sapphire Preferred or Freedom card, especially if your account anniversary has recently passed. For example, if you have a card with a May anniversary date and you upgrade now to the Sapphire Reserve, I would expect that you won’t have to pay the higher annual fee until May 2026.
Some may remember that I recently downgraded my Sapphire Reserve to a Freedom card so that I could get in on the 100K Sapphire Preferred offer that ended in May. This morning I checked to make sure that I had earned the 100K bonus on the Sapphire Preferred (I had) and then I called Chase to reverse the downgrade. I now have both a Sapphire Preferred and Sapphire Reserve card. After I have some experience with the new Sapphire Reserve card, I’ll downgrade one or the other (or both) to a Freedom card (which has no annual fee) the next time the annual fee comes due.
Consumer Sapphire Reserve Welcome Bonus
I’m assuming that the consumer Sapphire Reserve card will launch with at least a 100,000 point offer. It will most likely also keep the current rules: you can’t get it if you currently have a Sapphire Preferred or Sapphire Reserve card; and you can’t get it if you’ve earned a welcome bonus for a Sapphire card in the past 48 months.
Personally, I’m out of luck for getting a welcome bonus for the refreshed Sapphire Reserve since I just got the welcome bonus for the Sapphire Preferred about a week ago. My wife, though, may be a candidate. She last signed up for the Sapphire Preferred card in 2021, so I checked my records to see when she signed up: June 2021. That’s almost exactly 48 months ago. So the next question was when exactly did she earn the welcome bonus at that time? I looked through her old card statements and found that her welcome bonus was awarded in July 2021. More specifically, the charge that put her over the minimum spend required was dated July 17th. Based on related data points, I believe that Chase will count July 18th 2025 as being more than 48 months.
So, for my wife, as long as the new Sapphire Reserve offer is available as late as July 18th, she should be able to apply. However, she currently had her Sapphire Preferred card open. So, we did the following to rid her of her current Sapphire Preferred card:
- We moved her Chase Ultimate Rewards points from her Sapphire Preferred card to one of her Ink business cards
- We moved most of her Sapphire Preferred credit line to another Chase personal card she has (we were able to do that online!)
- From her account, we sent a secure message asking Chase to cancel her Sapphire Preferred account (Note: If you want to product change rather than cancel, it’s necessary to call. Calling to downgrade to a Freedom card would be better since it would more quickly show on her account that she doesn’t have a Sapphire card, but she hates calling banks, so we decided to cancel. I expect it will take about a month for the Sapphire account to clear off her account)
- I changed our streaming service autopayments from her Sapphire Preferred to mine (the Sapphire Preferred card earns 3x for streaming services).
Business Sapphire Welcome Bonus
There’s not much one can do to prepare for a likely big Sapphire business card welcome bonus. I don’t think that having Ink cards or Sapphire personal cards will impact your ability to get this new card. However, it may be necessary to be under 5/24 to get approved…
To determine your 5/24 status, see: Easy Ways to Count Your 5/24 Status. The easiest option is to track all of your cards for free with Travel Freely.
I logged into Travel Freely and found that I’m over 5/24 until September, but my wife and son are both under 5/24. Theoretically they may be able to each get both the refreshed Sapphire Reserve card and the new Sapphire business card!
Are these cards keepers?
I’m confident that the welcome bonuses for the refreshed and new card will be big enough to make it well worth paying the first year annual fees. The question is whether they’ll be worth keeping long term. Fortunately, we’ll have plenty of time to decide. If you sign up for the introductory offers, there will be no reason to cancel until the second year annual fee comes due.
We don’t yet know enough about the business card to make any guesses about whether it will be a keeper, but enough information has leaked to make some informed guesses about the consumer card. See Stephen’s post for a more complete analysis, but here are some quick thoughts of my own…
- At first I was disappointed about the idea of losing the 3x “all travel” category, but as I think about it more, airfare and hotels make up the bulk of my travel spend. So, I should come out ahead with the new ability to earn 4x for direct flights and hotels. Additionally, the ability to earn 8x for flights booked through Chase Travel may be enough to sway me to book through a portal rather than direct (I’m still on the fence on that one, though!).
- Assuming the current annual $300 travel credit goes away: that’s a big bummer. That was one of the few credit card “coupons” that I used each year with zero thought. The new coupons will take more planning.
- The new “coupons” that offer credits for specific merchants (Peloton, StubHub, Apple TV) can help make the card a keeper if you regularly use those services. However, I don’t think there are many households where having more than one of these cards would make sense.
- I’m not too excited about The Edit (luxury hotel) credits. I already have a hard time finding good uses for my Amex Platinum Fine Hotels & Resorts credits, so now I’ll just have more of the same to deal with.
- I am excited about the $150 Sapphire Reserve Tables semi-annual credits. I looked up the restaurants available through that platform (here) and found quite a few restaurants that I’ve been meaning to try. I don’t mind being “forced” to eat out at great restaurants.
- I rarely use StubHub, but I guess that will change with the $150 semi-annual credits. We’ll see.
- We already subscribe to Apple TV, so that credit will be an easy win. We might as well check out Apple Music as well if it will be free after rebate.
- With the $10 monthly Lyft credits I expect that I’ll be able to use them as intended a few times per year.
- I don’t use Peloton, so that credit will be a waste.
Overall, I expect I’ll be able to get about $700 to $800 back each year from the card’s coupons without much effort. Since that’s close to the annual fee, my best guess is that one card in the family will be a keeper. I like having the ability to earn 4x valuable points for hotel & airfare while also getting best in class travel protections (assuming that stays). However, if we had more than one, I think the coupons have diminishing returns so I find it very unlikely that we would keep more than one.
If the business card is similar but with different coupons, I could imagine keeping both a business and personal card in the family, but we’ll have to wait and see what that looks like!
Want to learn more about miles and points? Subscribe to email updates or check out our podcast on your favorite podcast platform.
Strategy question – is it worth getting the Ink Business Preferred card right now before the Sapphire Business launches, given there’s a solid chance the Sapphire Business is just that card rebranded? Seems like having an Ink card won’t be a disqualifier for getting a Sapphire business card, so could be an opportunity to double up on the bonuses (90k for the Ink + whatever the Sapphire ends up being)?
Actually evidence just came out suggesting that it is in fact a Sapphire Reserve biz card. No reason to hurry. You can double up either way.
Ugh, Chase customer service really screwed me over. I called to product change my Freedom Unlimited to CSR. The agent told me I was eligible for the sign up bonus. So I went to the chase application tool and it said I was pre-approved for a CSR. Submitted my application and it said I’m denied with more information coming by mail in 7-10 days. I’m assuming this means I got a hard pull on my credit. That’s just great…
Call reconsideration
The Amex Plat FHR benefit is one our favorite benefits (we had four Plats at one point – they are great on reasonable priced 5☆ properties that you do/don’t have elite status.
So if the EDIT benefit includes all the same benefits (sans 4PM late checkout and has a similar property presence to FHR/Renowned (UA Quest card) and its not like the Amex BP/Surpass credits that have to be used during each quarter- and you can book outside the six month semi-annual window it would be a winner for us. Might even PC P1/P2 cards.
Strategy question:
I have the Reserve and doubt that I will keep it when it renews in Nov/Dec.
I don’t want to product change directly to the Preferred, but instead want to cancel the Reserve and open a new Preferred to get the bonus (as small as it might be).
How long do I have to wait between cancelling the Reserve and opening the Preferred to be eligible for the bonus? (Should have done this when the Preferred had the 100k bonus but I didn’t anticipate this debacle.) (And I think Greg did this, but I have forgotten his timing.)
If you downgrade to a Freedom card instead of cancelling you only have to wait 2 or 3 biz days before applying. If you cancel you have to wait about a month I believe.
Here’s something I didn’t expect. My Freedom has only 5k credit limit and you need 10k for the Sapphire Reserve. I didn’t have any other non-business cards to move the credit limit from. The credit limit increase was denied, and recon didn’t want to recon due to 5/24. Apparently 5/24 applies to credit limit increases as well as new cards, at least where recon is concerned.
Think at 8x flight accruals this will destroy direct bookings at Southwest and United and their respective Co-brand cards. Was never willing to justify booking and losing the flexibly for only an extra 2x (5x total), but now I will be!
But I hope they don’t take away the standard $300 travel credit. I’m really about travel cards – not lifestyle cards
Isn’t the current DoorDash credit $5
It’s currently 2 $10 credits per month that you can use at supermarkets, liquor stores, retail, etc. but NOT at restaurants. Plus 1 $5 credit a month that you can use at restuarants.
[…] Source link [ads] […]
45% increase in annual fee is bonkers. :/
Regarding keeper status: if it’s a marginal ROI in the best case scenario of using all coupons you plan to use, then to me that’s a hard pass on the 2nd year. When you factor in the time and stress to plan and track the coupons, as well as the risk of things not going as planned and not utilizing the coupons (life changes, screwups, other better opportunities, etc), then it’s not worth the hassle of a small ROI investment, especially when SUBs are such a huge ROI on the AF. I just upgraded my CSP, and plan to downgrade at first $795 AF.
My CSR card renews next March. Do you think I’ll have the same benefits until then? If I want to take advantage of the potentially high welcome bonus for the new CSR, do you suggest downgrading my card now (I’ve had it for over 48 months) and applying for the new CSR offer? I don’t know about the high annual fee. I’d probably use the StubHub offer and possibly Apple TV if it’s Apple TV+.
No don’t downgrade yet. Wait to see the new offer before you decide. As to benefits, I’d guess that you’ll have your current benefits for a while AND the new benefits.
Hoping for a 150K SUB or higher! Amex level AF hopefully equals Amex level SUBs. If it’s only 100K SUB I don’t think it’s going to make the cut. Based on the reported details (assuming no more $300 travel reimbursement), my personal keeper analysis pins the annual value at $445 so after $795 fee it’s a net -$330 card for me. Supposing it’s 100K SUB with $5K spend, my personal first year value is $1,070 which I can’t see making sense for such a big upfront cost. If the $300 easy travel reimbursement sticks around that would push in the buy category in the first year and I’d probably try to make it work after that. In any case, looking forward to seeing the final details.
The restaurant credit is useless if you don’t happen to live near or travel to one of the markets that it exists in, which is an annoying part for sure. I’m fortunate to live close enough to a city that I could probably use it, but a lot of people won’t be able to.
I had a couple of questions and would appreciate the guidance. I signed up for a new CSP in mid-May and have not yet met minimum spend and earned my bonus. If I sign up for a CSR say in a late June, before I have earned my CSP bonus, do you think it would be possible to earn both bonuses?
Also, In May, I downgraded my original CSR to a second Freedom card in order to get the CSP SUB. If I plan to upgrade one of my Freedoms back to CSR in order to get in before the AF goes up, is there any difference in which Freedom I should upgrade – the one that I recently downgraded or the other one that has been a Freedom for several years. Thanks
No to your first question. You will not be approved for a CSR if you currently hold a CSP, per this provision in the offer terms of the CSR: “The product is not available to either (i) current cardmembers of any Sapphire credit card…”
Trying to be oversmart.. where are you from originally?
If one of your freedom cards has a recently passed membership anniversary, then that’s the preferred one to upgrade so that you’ll lock in the $550 annual fee for almost a year.
Can you qualify for the new Sapphire Reserve if you are currently an authorized user on your spouse’s card?
Yes