For many weeks now, there have been rumors swirling about upcoming changes to the consumer Chase Sapphire Reserve card. Those include an increased fee, changes to earning rates, changes to benefits and more.
Some of those rumors have been more or less confirmed now, so here’s what seems to be expected (thanks to Doctor of Credit).
- 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
Quick Thoughts
I’m in two minds about these changes if these all turn out to be true. On the one hand, having Chase increase the annual fee to $795 is painful, while the coupon bookification of the card is disappointing as it makes cardholders have to work much harder in order to get value from that whopping annual fee.
However, there is – potentially – some great value to be had from the benefits. If you’re someone who uses DoorDash even once or twice per month, getting a DashPass membership and $25 per month to spend is great. For those who like to attend concerts, comedy shows, sports events, etc., getting $300 to spend at StubHub each year might not be hard to max out.
People who use Lyft at least once a month will have zero problem with redeeming the $10 credit, while those already with a Peloton subscription will appreciate the $10 monthly credit. Similarly, if you already subscribe to Apple TV+ and/or Apple Music, getting a credit will be almost as good as cash. Getting up to $500 back per year on luxury stays booked through Edit could be useful too, as could the Sapphire Reserve Tables benefit.
Getting $795 of value from those will require a good bit of work though, especially if Chase does away with the $300 travel credit on the Sapphire Reserve card (it’s not clear if that’s definitely happening or not). If the $300 travel credit is maintained, getting $495 of value feels more attainable. If the $300 travel credit goes away, I imagine getting at least $795 of value would be a struggle for many cardholders. That might be less of an issue in the first year depending on how generous the new welcome offer will be, but I’ll be curious to see how many new cardholders drop the card in their second year, as well as how many existing cardholders renew their card once the higher fee hits their account.
While Chase is increasing the earning rate on flights and hotels booked directly from 3x to 4x, it’s disappointing that the wider travel category will no longer be bonused. In the past, the Sapphire Reserve card was a no brainer card for many people to use when booking all kinds of travel due to the rewards they earned on trains, taxis, etc. Flights and hotels will make up a substantial proportion of many people’s travel expenditure, so the fact that those categories look like they’re being increased to 4x might offset the loss of 3x in other categories. However, it does mean that the Sapphire Reserve will no longer be a no brainer all-in-one travel card which could potentially impact on Chase’s ability to retain cardholders.
As for the benefits you’ll receive when spending $75,000 in a year on the card (cardmember year or calendar year remains to be seen), there are some decent benefits available there. A $500 Southwest credit, Southwest A-List status and IHG Diamond status could all be very useful to have. The Shops at Chase is a small retail portal for Chase Sapphire Reserve cardholders which sells premium and somewhat-premium goods. I don’t currently have a Sapphire Reserve card to check pricing, so I’m not sure how far a $250 credit will get you – let us know in the comments if there’s anything decent. Even if you do value some or all of those benefits, the wisdom of putting $75,000 of spend on a card where you’re probably earning 1x for a fair chunk of that spend is another matter.
Again, the changes listed above are all rumors at this point, so there’s no guarantee that any or all of these will happen in the coming weeks. That said, Chase’s website did temporarily display the new earning categories, so that change at least seems very likely.
Question
What are your thoughts on these potential upcoming changes on the Chase Sapphire Reserve card? Would the various coupon book credits work well for you, or will the $795 annual fee put you off? Let us know in the comments below.
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Re CHASE SAPPHIRE CARD.Has been wonderful and I recommended it to multiple friends. The new benefits would largely be wasted on me.I don’t see continuing it after any such changes. I will miss the old parameters.
I justify the Chase Sapphire Reserve’s annual fee because I want access to the Priority Pass and Chase Sapphire airport lounge network. If the annual fee increases to $795 without the $300 credit, I will drop the card. It’s not worth it. Chase needs to think long and hard about possibly implementing this change.
It’s really going to boil down to the $300 anything travel credit. That us this cards bread and butter. Amd getting rid of 3x for travel is sad, but you can just use a freedom unlimited limited or Ink unlimited. It’s half the value but still greater than 1x.
What this article doesn’t list is the new rumor that points
In the port being worth a 1.5 instead of 1x, or even 1.25x on the saphire preferred. The rumor also states that you ca. Get 2x on certain offers that they give, but standard will only be 1x unless offered for specific booking. Points being worth 1.5 cent per point is literally the best way to get value for domestic economy or hotel bookings without having to transfer out to partners. This was usually the most cost effective way to book delta, hilton and Marriott “if status doesn’t really mean much to you”.
That said, transferring your points out is usually the best way to get 2 cent per point value or more depending on booking
I don’t use door dash, the prices are overly inflated. And its split between 3 different credits a month. Two $10 and one $5 and also for grocery then dining. It’s just bad.
The edit bi-annual $500 credit is nice and a great for say date night with your significant other.
Same with chase dining. I use that already
Pelaton credit is meh, good of you already use it.
Stub hub is good, and pair it with say rakuten during a 10x offer like I normally do and it creates a lot of putsized value. Add in a chase offer which can be stackable since they frequently have a 5-10% offer and its just free money for an already over priced show “service fees are ridiculous for stub hub”
I’m a huge CSR fan and card owner for 7+ years but if the $300 travel credit is taken away, I’m out.
I’m not angry about it. We are big fans of this card and have been balancing its use with Ink and Amex business cards, so I’m very curious about the Reserve business card. I want to know about lounge access (will they start limiting entries trying to be more like Amex?) because the Reserve lounge trumps Amex and Delta lounges by far, and we travel with kids. Otherwise, we have been big Southwest travelers, use Peloton, use Appletv, and we also eat dinner so our benefits will exceed $800. This conflicts with our Southwest card though so that will likely get cut.
Too rich for my blood. The new “benefits” are not items I value. Never fly Southwest, don’t doordash or use Stubhub, not a big TV watcher, so Apple TV not of value. The travel insurance, Priority Pass, $300 travel credit were what had us pay for this card. If they raise the price to pay for these targeted benefits, we will also shop for an alternative card.
I’ve been a reserve cardholder since it first came out and $795 let’s just call it $800 is absolutely unjustifiable. This is the first time in my life I will drop a credit card. Screw my credit rating and Screw Reserve
Instead of dropping the card and hurting your credit, just downgrade to a freedom flex or unlimited or even a saphire preferred. For $0-$95 annual fee and keep the credit line open while still being able to access transfer partners woth the preferred, or use the chase portal
I’ve had this card since 2016 and never churned it even once because the 3x earning on all travel made it my workhorse. I’ll likely be cancelling when the AF hits and using my CIBP for 3x on travel going forward.
These rumors are exactly why I could never justify the AmEx Platinum. 8X for some travel is great but reducing or minimizing so much else seems like a step back. If they do raise the price that much I may as well switch to the AmEx Platinum where the transfer partners are better anyways.
If nothing else I’ll drop down to the preferred and get the Venture X
Losing the 3x credit for travel purchases along with the $300 travel refund will probably lead me too cancel the card.
RenC
JPMC is a big proponent of relationship banking. Why not give x back in a fee reduction for $1million relationship, 2x back for a higher amount, etc.
Agreed, Brazilian credit-cards often reduce by 50% then waive CC fees after exceeding a monthly spending amount.
I’m out.
If this happens I’m downgrading to the preferred and probably getting capital one venture card instead
I’m definitely downgrading this card if these rumors prove true.
If they get rid of the current $300 travel credit, there’s no way this “premium travel card” will be worth it. I’ve had the CSR since 2018 and I’ll definitely be product changing to a no AF card and take my business elsewhere. It’s already bad enough that they’re getting rid of the 3x multiplier on travel and forcing people to use their horribly expensive travel portal. Atleast with the $300 travel credit, DoorDash credit, and Stubhub credit then it might be worth keeping but that’s still debatable. Both The Edit hotels and Lyft credits are useless to me. I guess we will see what the actual changes are…
Agreed, I am not impressed by Chase’s travel portal, especially after a recent search for Maceió, Brazil hotels.
Not to mention, the prices were higher than both Expedia & Priceline.
Even worse, I couldn’t enter my frequent flyer Information to earn miles after I bought 2 Latam tickets and I’m still waiting to get those miles credited.
As someone who spends a lot of the time abroad, most of the upcoming CSR credits will be worthless to me.