Details about the Sapphire Reserve card’s changes are now available… The annual $300 travel credit remains intact. That’s the good news. The bad news is that the annual fee increased, we lose 3x for all travel, and we can no longer rely on 1.5 cents per point redemptions through Chase Travel℠. In exchange for all of that yuckiness, we get “up to” 2 cents per point via Chase Travel redemptions (when lucky), we get increased earning rates for select travel, and we get a slew of new coupons. Yay?
Overview
Chase has released the newly refreshed and recouponized Sapphire Reserve consumer card, as well as a new w Sapphire Reserve for Business card (see our review of the business card here).
Both cards launched Monday June 23, 2025.
Here are the current offer details for the Sapphire Reserve card:
| Card Offer and Details |
|---|
 ⓘ $1585 1st Yr Value Estimate$300 travel credit valued at $285, $300 StubHub credit ($150 Jan-Jun and again Jul-Dec) valued at $75, $500 Chase The Edit credit ($250 Jan-Jun and again Jul-Dec) valued at $125, $300 Chase Dining credit for dining at Sapphire Reserve Tables restaurants ($150 Jan-Jun and again Jul-Dec) valued at $75, $500 Chase Travel credit valued at $400 Click to learn about first year value estimates 100K Points + $500 Chase Travel℠ promo credit ⓘAffiliateThis is an affiliate offer. Frequent Miler may earn a commission if you are approved for this offer 100K + promo credit good for up to $500 towards a single Chase Travel℠ booking after $5K spend in 3 months. $795 Annual Fee Note that promotional travel credit is one-time use and if it is applied to a transaction of less than $500, the remaining value will be forfeited. FM Mini Review: Good all-around card for frequent traveler. Best when paired with no annual fee Chase Freedom Flex, Freedom Unlimited & Chase Ink Cash cards. Click here for our complete card review Earning rate: 8X Chase Travel℠ ✦ 4X flights and hotels booked direct ✦ 3X Dining ✦ 5X Lyft (through September 2027) Card Info: Visa Infinite issued by Chase. This card has no foreign currency conversion fees. Big spend bonus: After spending $75,000 each calendar year, get the following benefits: IHG One Rewards Diamond Elite Status ✦ Southwest Airlines A-List Status ✦ $500 Southwest Airlines credit when booked through Chase Travel ✦ $250 credit to The Shops at Chase Noteworthy perks: $300 Annual Travel Credit ✦ Transfer points to airline & hotel partners ✦ Up to $500 The Edit credit annually ($250 January to June and again July to December) ✦ Up to $300 Dining credit through Sapphire Reserve Exclusive Tables ($150 January to June and again July to December) ✦ Complimentary AppleTV+ and Apple Music through 6/22/27 ✦ Up to $300 in StubHub credits ($150 January to June and again July to December) ✦ Points worth up to 2 cents each towards qulalified bookings through Chase Travel ✦ Transfer points to airline & hotel partners ✦ Primary auto rental coverage ✦ Priority Pass Select lounge access ✦ Access Sapphire Lounges for yourself and 2 guests for free ✦ Access select Air Canada Maple Leaf lounges when flying Star Alliance ✦ Up to $120 Global Entry or TSA PreCheck® or NEXUS Application Fee Statement Credit ✦ Free DoorDash DashPass through 2027 ✦ Two promos of $10 off each month on non-restaurant orders from DoorDash ✦ $5 off restaurant order each month from DoorDash ✦ $10 monthly Lyft creditPrimary auto rental coverage ✦ Priority Pass Select lounge access ✦ Access Sapphire Lounges for yourself and 2 guests for free ✦ Access select Air Canada Maple Leaf lounges when flying Star Alliance ✦ Up to $120 Global Entry or TSA PreCheck® or NEXUS Application Fee Statement Credit ✦ Free DoorDash DashPass through 2027 ✦ Two promos of $10 off each month on non-restaurant orders from DoorDash ✦ $5 off restaurant order each month from DoorDash ✦ $10 monthly Lyft credit See also: Chase Ultimate Rewards Complete Guide |
Transition for existing cardholders
The following timeline is exclusively for Sapphire Reserve cardmembers who applied prior to June 23, 2025:
- June 23 2025: Existing cardmembers get access to Points Boost. For a while (see dates below) cardmembers automatically receive the best offer available: Points Boost or 1.5x on Chase Travel.
- October 25 2025: Last day to earn points that are redeemable for 1.5x on Chase Travel. Points moved by this date to the Sapphire Reserve from other cards in your household will count as having been earned before October 26th and will be usable for 1.5x.
- October 26 2025:
- All new card features now enabled (e.g. first date to earn new rebates and new category bonuses)
- No longer earn 3x for all travel
- October 27 2025 onwards: Annual fee will be adjusted to $795 on next anniversary date following October 26, 2025.
- October 25 2027: Last day to redeem points for 1.5x on Chase Travel.
(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.)
Now let me explain the above in hopefully simpler terms. If you had the Sapphire Reserve card before Monday June 23rd 2025, then this is what will happen:
- Starting on June 23rd 2025, you’ll have access to Points Boosts. When searching for travel through Chase Travel, Points Boosts will sometimes show up offering a better deal than the current 1.5 cents per point. When the Points Boost is better than 1.5, you’ll automatically get the better rate.
- Other than Points Boosts, your card benefits and features should remain unchanged until October 26. Additionally, any points you earn during this time will be usable at the 1.5x rate through Chase Travel for about two years (through October 25, 2027)
- On October 26, 2025, your card and its benefits will transition to the new Sapphire Reserve. That means that you now will earn points at the new rates and you will be eligible for the card’s new coupons.
- After this date, the next time your annual fee comes due it will be at the new $795 rate. So, for example, if your annual fee comes due in September, you’ll be charged $550 in September 2025, and then you’ll be charged $795 in September of 2026.
Basics: Annual Fee, Point Earning & Redeeming
Annual Fee
- Primary Cardholder: $795
- Authorized Users: $195 each
Point Earning Rates
- 8x points on Chase Travel (replacing 5x on flights and 10x on hotels and car rentals)
- 5x on eligible Lyft purchases through 9/30/27
- 4x points on flights and hotels purchased direct (replacing 3x on all travel)
- 3x on dining worldwide, including eligible delivery
- 1x everywhere else (including on travel not included in the bonus categories above)
Point Redemption Value
- Up to 2 cents per point for Points Boosts via Chase Travel
- 1x on Chase Travel for purchases not eligible for Points Boost (replacing 1.5x on Chase Travel)
Product Change Opportunity
If you have a Chase Sapphire Preferred, Sapphire, or Freedom card, it’s worth considering whether you should product change to the Sapphire Reserve card before Monday June 23rd. I believe that the upgrade will result in a new anniversary date of late September or early October. Soon after the upgrade, you’ll be charged a prorated rate for the Sapphire Reserve card based on the old $550 annual fee and then you should get charged $550 in September or October based on your new anniversary date. Then, the coupons will kick in on October 26th and you’ll have approximately a full year to test out the full changes to the card before having to pay the $795 annual fee in October or November 2026.
New Sapphire Reserve vs. Previous Sapphire Reserve
The table below shows a side by side comparison of the new card details vs the pre-June-23rd-2025 version. Cells shaded green indicate where one version or the other was better.
| New | Previous | |
|---|---|---|
| Annual Fee | $795 | $550 |
| Additional Card Fee | $195 | $75 |
| Point Earning Rates: | ||
| Flights & Hotels | 4x | 3x |
| Other Travel | 1x | 3x |
| Dining | 3x | 3x |
| Chase Travel Hotels & Cars | 8x | 10x |
| Chase Travel Flights | 8x | 5x |
| Chase Travel Other | 8x | 3x |
| Lyft through 9/30/27 | 5x | 5x |
| Perks: | ||
| Chase Travel Point Value | 1 to 2 Cents Per Point | 1.5 Cents Per Point |
| Point transfer to Airlines & Hotels | Yes | Yes |
| Excellent Travel Protections | Yes | Yes |
| Priority Pass w/ 2 Guests | Yes | Yes |
| Sapphire Lounge w/ 2 Guests | Yes | Yes |
| Air Canada Maple Leaf Lounges | Yes | Yes |
| Authorized User Lounge Access | Yes | Yes |
| IHG Platinum Status thru 12/31/27 | Yes | No |
| Free Subscription to Apple TV+ | Yes | No |
| Free Subscription to Apple Music | Yes | No |
| Reserve Travel Designers | Yes | No |
| Sapphire Reserve Exclusive Tables | Yes | No |
| Credits: | ||
| Travel Credit | $300 per Membership Year | $300 per Membership Year |
| Global Entry / TSA Pre / Nexus | $120 per 4 Years | $120 per 4 Years |
| The Edit (Hotels) | $250 per 6 Months | N/A |
| Lyft In-App Credit | $10 per Month | $10 per Month |
| DoorDash Restaurant Promo | $5 per Month | $5 per Month |
| DoorDash Non-Restaurant Promo | $10 twice per Month | $10 twice per Month |
| Sapphire Reserve Exclusive Tables | $150 per 6 Months | N/A |
| StubHub | $150 per 6 Months | N/A |
| Peloton | $10 per Month | NA |
| $75K Spend Benefits: | ||
| IHG One Rewards Diamond Elite Status | Yes | N/A |
| Southwest Airlines A-List Status | Yes | N/A |
| $500 Southwest Airlines credit | Yes | N/A |
| Shops at Chase credit | $250 | N/A |
Coupons and Features Explained
New coupons & features
Here are details about the card’s new features:
- Points Boost: This replaces the ability to earn 1.5x for all travel booked through Chase Travel. Instead, you’ll get 1 cent per point value with most travel, or up to 2 cents per point value for travel with Points Boost offers. We’ve been told that all hotels available through The Edit will have 2x Points Boosts. More details about Points Boosts can be found here: Chase Travel ending 1.5c & 1.25c redemptions, replacing with Points Boost.
- Free Subscription to Apple TV+ and Apple Music: This is not a rebate. Instead, there will be a way to enable a free subscription as long as you have a valid Sapphire Reserve card.
- Reserve Travel Designers: Appears to be a new name for travel agents as far as I can tell.
- Sapphire Reserve Exclusive Tables: A curated selection of high-end restaurants available through a special version of Open Table. You do NOT need to make a reservation or pay through Chase or Open Table in order to earn the $150 rebate every 6 months (from January through June and again from July through December). Simply use your card at one of the restaurants listed on this platform. You can find more information about this program here: opentable.com/c/chasedining. And here’s a list of eligible restaurants:
- Atlanta: Canoe, Little Sparrow, Mujo, Ray’s On The River, The Alden, The Garden Room, The Optimist, Yebo Beach Haus
- Austin: Clark’s Oyster Bar, Comedor, dipdipdip Tatsu-ya, Emmer & Rye, Este, Hestia, Kemuri Tatsu-ya, La Condesa, OKO, Perla’s Seafood and Oyster Bar, Red Ash Italia, Suerte, Boston, Bistro du Midi, Celeste, Grill 23 & Bar, La Royal, Mahaniyom, The Banks Seafood and Steak, Toro, Uni
- Charleston: Ma’am Saab, Oak Steakhouse, Southbound, Tempest
- Chicago: Khmai, Kumiko, Mariscos San Pedro, Mirra, Momotaro, Moody Tongue, Mott St, PERILLA steakhouse, ROOP Chicago, Sepia, Thattu, The Publican, Valhalla
- Dallas: El Carlos Elegante, José, Mister Charles, Nick & Sam’s Steakhouse, Sister Restaurant, Tei-An, Town Hearth
- Denver: A5 Steakhouse, Alma Fonda Fina, Ash’Kara, BRUTØ, Cozobi Fonda Fina, Frasca Food and Wine, Kumoya, Restaurant Olivia, Rioja, Sunday Vinyl, Tavernetta
- Detroit: Baobab Fare, Bar Pigalle, BARDA, Oak & Reel
- Hawaii: Hau Tree, Kaimuki Shokudo, Lineage Maui, MW Restaurant, Nami Kaze, Senia, The Pig and The Lady
- Houston: Agnes and Sherman, BCN Taste & Tradition, Brasserie 19, ChopnBlok, Kiran’s, Lees Den, March, Maximo, Októ, Rosie Cannonball, Street To Kitchen, Turner’s Cut
- Las Vegas: Esther’s Kitchen, Harlo Steakhouse & Bar, Hell’s Kitchen – Caesars Palace Las Vegas, La Strega, Momofuku, Nobu – Caesars Palace Las Vegas, Top of the World Restaurant – The STRAT Hotel, Vanderpump à Paris
- Los Angeles: Amiga Amore, Camélia, chi SPACCA, Delilah, DiDi, Dunsmoor, Gjelina, Gjusta, Gwen, Harriet’s, Loreto, Majordomo, Mélisse, Meteora, Pasjoli, Petit Trois Le Valley, Ronan, Somni, Steak 48, Stella, Super Peach, The Nice Guy, Vespertine, Xuntos
- Miami: Ariete, Blue Collar, Delilah, Doya, EntreNos, Eva, Ghee – Downtown Dadeland, Krus Kitchen, L’Atelier de Joël Robuchon, Los Felix, Luca Osteria, Nami Nori Design District, Phuc Yea, Stubborn Seed, The Den, Zitz Sum
- Milwaukee: Bavette La Boucherie, DanDan, EsterEv
- Minneapolis: Baldamar, Manny’s Steakhouse, P.S. Steak
- Nashville: Bad Idea, Bastion, Choy, Harriet’s, Henrietta Red, International Market, Locust, Pelato, Yolan
- New Orleans: Brennan’s, GW Fins, Jewel of the South, La Petite Grocery, Muriel’s Jackson Square, Restaurant August, San Lorenzo at Hotel Saint Vincent, Shaya, Tableau, The Bower
- New York: Altro Paradiso, Aska, Bar Kabawa, Bar Miller, Brass, Casa Mono, Chez Fifi, Demo, Di An Di, Estela, Falansai, Gjelina – New York, Hawksmoor, IRIS, Kabawa, Koloman, l’abeille, Le B., Lodi, Momofuku Noodle Bar Downtown, Momofuku Noodle Bar Uptown, Moody Tongue Sushi, Noz Market, Odo, Phoenix Palace, Pig and Khao, Potluck Club, Roscioli, Sappe, Scarr’s Pizza, Strange Delight, Sushi Ichimura, Sushi Noz, The Golden Swan, The North Fork Table & Inn
- Philadelphia: a.kitchen, High Street, Honeysuckle Provisions, Jean-Georges, Mawn, Ogawa Sushi & Kappo Omakase, SkyHigh, Tabachoy, Vernick Fish, Vetri Cucina
- Phoenix: Chilte, Christopher’s at Wrigley Mansion, Course, Fat Ox, Geordie’s at Wrigley Mansion, Latha, the larder and the delta, The Mission – Old Town Scottsdale, Lom Wong
- Portland: Arden, Canard – Burnside, De Noche, Dolly Olive, Han Oak, Hayward, Jeju, L’Orange, Nodoguro, Oma’s Hideaway, Shalom Y’all
- San Antonio: Clementine
- San Diego: Animae, Casa Gabriela, C-Level, Coasterra, Herb & Sea, Herb & Wood, Ironside Fish & Oyster, Island Prime, Jeune et Jolie, Juniper and Ivy, Kettner Exchange, KINDRED, Marisi, Paradisaea, Solare Ristorante Lounge, The Marine Room, The Whaling Bar, Vintana Wine & Dine
- San Francisco: Angler, Aziza, Bodega SF, Burdell, Che Fico, Ciccino, Gary Danko, Little Shucker, Niku Steakhouse, Nisei, O’ by Claude Le Tohic, Popoca, Saison, Saison Cellar & Wine Bar, Selby’s, SingleThread Farms, The Progress
- Seattle: Atoma, Cafe Juanita, Lark, Takai by Kashiba, Tomo, Westward
- Washington D.C.: Amazonia, Bresca, Causa, Dauphine’s, El Taller del Xiquet, Service Bar, The Duck and the Peach, Thip Khao, Xiquet by Danny Lledó
- The Edit credit: The Edit is a curated list of high-end hotels and resorts. When you book through The Edit, you get benefits like $100 property credit, daily breakfast for two, room upgrades, etc. With the new Sapphire Reserve card, you can get up to $250 in statement credits every 6 months (from January through June and again from July through December) for prepaid bookings made with The Edit. Two-night minimum. Purchases that qualify will not earn points.
- StubHub & viagogo credit: Get up to $150 in statement credits every 6 months (January through June and again from July through December) for StubHub and viagogo purchases. Activation required.
- Peloton credit: Get up to $10 per month back on eligible Peloton All-Access Membership, Rental, App+, Guide, App One and Strength+ memberships through 12/31/27. Activation required.
- $75K spend benefits: Once you spend $75,000 within a calendar year, the following benefits are available for the rest of that calendar year and all of the next:
- IHG One Rewards Diamond Elite Status
- $500 Southwest Airlines Chase Travel credit (credits automatically applied when booking Southwest flights through Chase Travel)
- Southwest Airlines A-List Status
- $250 Credit for The Shops at Chase
Current & continuing coupons and features
In addition to the new coupons/benefits described above, the following continue as-is from the current Sapphire Reserve:
- $300 annual travel credit: Get $300 back each membership year for any travel spend. Qualifying spend does not earn points.
- DashPass + Monthly DoorDash benefits: Cardholders get complimentary DashPass membership for 12 months when activated by 12/31/27 and access to one monthly $5 restaurant promo and two $10 promos for non-restaurant orders. These coupons must be applied at checkout when placing an order and require using your Sapphire Reserve for Business card and that it is enrolled in DashPass. Monthly promos expire each month if unused.
- Lyft benefits: $10 monthly in-app Lyft discounts, plus earn 5x on Lyft through 9/30/27
New Sapphire Reserve Pros and Cons
Pros
- Existing cardholders get the best of both worlds for an extended period of time
- Annual $300 travel credit remains as-is
- Earning rate for flights & hotels increased from 3x to 4x
- Chase Travel earning rate at 8x across the board (increase for flights, tours, activities, cruises, etc.)
- Points Boost offers a way to sometimes get better than 1.5 cents per point value through Chase Travel
- Many potentially valuable perks/credits added: free Apple TV+, free Apple Music, The Edit rebate, Sapphire Reserve Tables rebate, StubHub rebate, etc.
- Sapphire Reserve Tables dining credit will work like Amex Resy: you don’t have to book or pay through Chase to earn the credit.
- Free IHG Platinum Elite status through 12/31/27
Cons
- Annual fee increased by $245 (from $550 to $795)
- Authorized user fee increased by $120 (from $75 to $195)
- New card loses the ability to earn 3x on all travel spend
- New card loses the guaranteed 1.5 cents per point value through Chase Travel
- The Edit $250 per 6 months credit requires a minimum 2 night stay
- Perks after $75K spend are new but lackluster
New Sapphire Reserve vs. Sapphire Reserve for Business
We will separately publish a full post about the Sapphire Reserve for Business card, but for now, here’s a side-by-side comparison:
| Consumer | Business | |
|---|---|---|
| Annual Fee | $795 | $795 |
| Additional Card Fee | $195 | $0 |
| Point Earning Rates: | ||
| Chase Travel | 8x | 8x |
| Flights & Hotels | 4x | 4x |
| Dining | 3x | 1x |
| Online Advertising | 1x | 3x |
| Lyft through 9/30/27 | 5x | 5x |
| Perks: | ||
| Points Boost (Up to 2x) | Yes | Yes |
| Point transfer to Airlines & Hotels | Yes | Yes |
| Excellent Travel Protections | Yes | Yes |
| Priority Pass w/ 2 Guests | Yes | Yes |
| Sapphire Lounge Access w/ 2 Guests | Yes | Yes |
| Authorized User Lounge Access | Yes | No |
| IHG Platinum Status thru 12/31/27 | Yes | Yes |
| Free Subscription to Apple TV+ | Yes | No |
| Free Subscription to Apple Music | Yes | No |
| Reserve Travel Designers | Yes | No |
| Sapphire Reserve Exclusive Tables | Yes | Yes |
| Credits: | ||
| Travel Credit | $300 per Membership Year | $300 per Membership Year |
| Global Entry / TSA Pre / Nexus | $120 per 4 Years | $120 per 4 Years |
| The Edit (Hotels) | $250 per 6 Months | $250 per 6 Months |
| Lyft In-App Credit | $10 per Month | $10 per Month |
| DoorDash Restaurant Promo | $5 per Month | $5 per Month |
| DoorDash Non-Restaurant Promo | $10 twice per Month | $10 twice per Month |
| Sapphire Reserve Exclusive Tables | $150 per 6 Months | $0 |
| StubHub | $150 per 6 Months | $0 |
| Peloton | $10 per Month | $0 |
| ZipRecruiter | $0 | $200 per 6 Months |
| Google Workspace | $0 | $200 per Year |
| giftcards.com/reservebusiness | $0 | $50 per 6 Months |
| Big Spend Benefits: | $75K Spend: | $120K Spend: |
| IHG One Rewards Diamond Elite Status | Yes | Yes |
| Southwest Airlines A-List Status | Yes | Yes |
| $500 Southwest Airlines credit | Yes | Yes |
| Shops at Chase credit | $250 | $500 |
My Thoughts
I find the new Sapphire Reserve card disappointing. When the card first launched, it was an excellent choice for almost anyone who traveled often. When they raised the annual fee to $550, it still made sense for anyone who was okay with the $250 net annual fee after considering the annual $300 travel rebate. With the new $795 price-point, things have changed. I can’t recommend the card to as many people any more. Instead, I would recommend it only to people who can make good use of the card’s new coupons and don’t mind making sure that they do so. Don’t get me wrong: there are undoubtedly plenty of people who will do well with the new card. I especially think that people who spend a lot on hotels can do really well by taking advantage of Chase’s luxury hotel collection, The Edit, where cardholders can get both 2 cents per point value when redeeming rewards, and up to $500 back per year when paying by card.
Take my own situation, for example. While I hate having more coupons to worry about, there are some here that will be easy or fun for me to use:
- $300 travel rebate: I’ve always used this automatically without even thinking about it.
- Free Subscription to Apple TV+: That will automatically save me $9.95 per month.
- Sapphire Reserve Exclusive Tables $150 per 6 months: This one won’t be automatic for me, but I’m excited about it because there are lots of restaurants on the list that I’ve been eager to try. This will force me to have a great dinner twice a year. I’m good with that! UPDATE: The list of eligible restaurants is much smaller than I previously thought. I’m no longer confident that I’ll regularly make good use of this coupon.
- The Edit $250 per 6 months: I don’t expect to use this every 6 months, but I think it’s likely that I’ll use it at least once per year. That’s because this overlaps very nicely with the ability to get 2 cents per point value at The Edit hotels via Chase Travel. When the stars align to where I can redeem points for The Edit, I should be able to pay mostly with points and $250 with my credit card. That way, I’ll get very good value for the points redeemed and I’ll get $250 off the price.
- Lyft $10 discount per month: I don’t use Lyft every month, but I use it often enough to expect to get at least $50 per year in savings.
- StubHub $150 per 6 months: I rarely use StubHub but it could be a fun excuse to go to a free or heavily discounted event every 6 months.
The above rebates add up to significantly more than the card’s new annual fee, so I can imagine keeping the card long term so that I can continue to take advantage of its best-in-class travel protections and excellent airfare and hotel earning rates. That said, I don’t expect that everyone (anyone?) will have the same reaction to the rebates as I do. My bet is that this will actually be a bad deal for many. Each person should do the math to figure out whether the card makes sense for them.
The other issue worth discussing is the loss of 3x for all travel spend. I kept the Sapphire Reserve card for many years because it was my easy go-to card for all travel spend. Not only did it earn 3x but it also offered great travel protections. That was a great combination.
The new version of the Sapphire Reserve card preserves the same great travel protections, and increases point earnings on airfare and hotels. But for other travel not booked through Chase, the card earns only 1x. That’s really not good at all. I have other cards I can turn to for these other purchases (the Chase Ink Business Preferred, for example, is a great option for 3x travel), but I’ll lose the simplicity of paying for all travel with a single card.
Anyway, as an existing cardholder I’m glad that I won’t have to pay the new annual fee until my next renewal date after October 26th. My anniversary date is September 6th. That’s awesome because I won’t get charged the new annual fee until fall 2026! So, I’ll have plenty of time with the new card benefits to decide if this card will remain a keeper for me.
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[…] use them to brag how much value we get out of these cards lol. So, I liked Frequent Miler‘s deep dive on the couponified CSR benefits. I mean, some will definitely use at least a few of these and most will go out of their way to find […]
Hello. Long time reader. First time poster to a blog discussion.
I read this post on June 18th and then same day product changed from CSP to CSR. I just received a letter today 6/23 from Chase that my AF is due on 8/14.
2 Questions for Greg:
1) What calculation did you use to determine that the AF would have a mid Sept, Oct or even Nov 1st date (Nick said in your coffee chat video)? Because that obviously didn’t happen
Also I started to get all my travel purchases refunded the next day on June 19th. Chase did tell me me the CSR benefits would kick in right away
2) Are you sure this is free money up to $300 and after I pay the $550 on 8/14 for this next year use my $300 yearly credit will reset for 8/14/25-8/14/26? Or am I just using up my $300 travel credit earlier and may not have much travel credit remaining to use next year after I pay my $550 AF on 8/14/2025?
I’ve been reading other readers asking the same questions posted similar to mine, but all have not been answered.
i don’t know how other people feel, but to me integrity is very important when I chose who to read and give clicks to. When I read travel blogs and am told one thing but something else happens, that effects the credibility of that blogger going forward. I hope you will please clarify the true benefit terms of product changing effects. This is not just about being off by 1 or 2 months of an AF anniversary date. You said you weren’t 100% sure. But in regards to the $300 travel credit, you sounded firm on that being 2X.
Thanks for your questions…
1) At the end of April I product changed my Sapphire Reserve to a Freedom card so that I could get in on the Sapphire Preferred 100K offer while that was available. Then, on June 11 I called and reversed the product change because I wanted to lock in the old Sapphire Reserve features and annual fee. Later I contacted Chase to ask about my card’s anniversary date: it had been changed to September 6 (previously it was later) so it seems that my product changing had reset my that date to a few months after the product change. A number of readers have reported the same: that after product changing their card’s anniversary date got reset to a few months later. I had assumed that since mine got changed to early September, anyone who product changed soon after I did would similarly get an anniversary date in September or early October. It looks like your hit earlier than I expected. I don’t know why it would vary from person to person like that.
2) The $300 travel credit is per membership year, so IF I’m right that your membership year changed, then yes you should get another $300 of credit after your annual fee hits in August. More recently a reader suggested that the post-product change annual fee and membership year are NOT tied together. That doesn’t seem right to me, but If that’s true, then your credit should reset whenever your original anniversary date was.
Hi Greg,
Thanks for taking the time to reply to my post questions. Based on what you said, I think that explains why I received an August date for my CSR product swap anniversary date. With my previous CSP, the anniversary date came up in early June. Chase seems to move it 2 months and not, unfortunately 3-4 months later.
As far as the 2X $300 Travel Credit, not totally feeling confident about that possibility. But I have my fingers crossed on that being the case.
I do very much enjoy reading your site blogs, and get a lot out of watching those “Coffee Break” & “Frequent Miler on the Air” videos.
Keep up the great work!
Mine are not tied together. Chase set my anniversary month to be the month after the upgrade, and the annual fee to be 3 months later, on the 1st of the month. The anniversary month is when the travel credit resets.
Same here. I just spoke to a CSR customer service rep and they said my anniversary month is July (one month after my previous anniversary for the CSP card. The letter I received say my annual fee will be a month later in August. So they are also not tied. Meaning, unfortunately, I will not get the additional $300 credit again in August as Greg said.
When something sounds to good to be true. It probably is. Lesson learned for future reference when relying on sources not coming directly from the card provider
Not sure why you think that. If you could spend the 300 before your anniversary date in July, then it should reset after that.
Greg,
I just product changed on June 18th. So, before June 23rd. Unless the supposedly Supervisor from Chase I spoke to a few hours ago for the CSR card was incorrect, she specifically told me that the next $300 travel kicks in is July 2026 and I will not be provided another $300 travel credit again next month (New Anniversary month) or in August 2025 (when my annual fee is set to post) based on the letter I received from Chase yesterday.
Up to this point, I think what you and Nick have said was right on point. But with the 2 particular issues I initially brought to you in my first post, that addressed what you expected to result from this product change, didn’t and won’t materalize. So the results were not accurate.
Based on what you said, If my CSP anniversary was this month, and I now product changed, why would Chase make the new anniversary date for the CSR next month? That’s only moving it 1 month. But now that I brought this up, you’ve clarified or backtracked that you based this on your experience with your old card anniversary was early September and that’s why you thought it would be September or October. But you didh’t come accross that way in your blog or Video. You and Nick specifically said “We” meaning your audience would most likely expect the same result regardless of previous anniversary dates. All we had to do was product change before June 23rd. Please correct me if I misunderstood.
My intent is not to create ill will with you or to besmirch your website. I just had to let you know that based on the results I’m seeing and what I’m being told by Chase, you were incorrect on your prognostication. I do hope you’re still correct with the additional $300 travel credit. I’m just not planning on it.
But what concerns me, is that I believe Chase and other credit card companies, and all the Airlines reads a lot of the same blogs that you and others on Boarding Area write and the questions we ask. What makes you think that Chase and the others aren’t learning too by what you all write and make sure those hidden tricks get stopped in their tracks? Because I’ve seen it happen so many times over the year that way. And by me spending so much time addressing this specific point, probably isn’t helping the situation.
It kills me when I get things wrong, especially when it negatively affects readers/listeners. I’m very sorry about that! What I said/wrote was based on both my own experience, several readers who contributed their experiences, and an internal team discussion. Based on your experience it does indeed seem that I/we were wrong.
Regarding your $300 travel credit, the terms state that you will earn the credits “through the first statement date after your account open date anniversary” (so, if your statement date is 8/14, you should be able to earn the first set of credits through then), and then you should be able to earn again between 8/15/2025 and 8/15/2026. Could I be wrong about that? Sure, but I don’t see how that would jibe with the terms.
Regarding credit card companies reading blogs: yes, that happens. Usually it takes a very long time for them to react to things like this though and would only do so if they thought it was a big problem. Since this was a one time conversion situation, I doubt they would rush to “fix” it.
Thanks for what you said in your reply.
For the record, I didn’t do the product change for potentially getting an additional $300 travel credit. Sure that would be great if it happend. What made me want to upgrade, and I appreciate you letting us know in this article, was that by ugrading before June 23, would lock us in a renewal fee of $550 for a year “to see if the new benefits justify the future $795 renewal fee.”
I actually like some of the changes and the coupon options that were added in the card refresh, I believe I can make it work for me. Although it hurts that I’ll be losing the addtional points earnings on public transit and airport parking with the card upgrade from the CSP. Not sure what cards works best for those purchases going forward. Any ideas?
You may find out yourself or from others in your circle before I do, but if you’re interested, I’ll be happy to reply to this tread with the good or bad news in August about the travel credit for 2026.
As I said previously, accept for this situation in our chat, I feel you and all the people on your team at Frequent Miler do a great job. I will continue to read your content when it’s pertinent to me.
Thanks again for your time and attention to this matter.
Yes please do keep us up to date about your travel credits. Thanks!
An additional data point
TL;DR: It looks like those who product changed before the new Reserve cards’ terms took effect (Jun 23rd) will see the $550 fee post on their September bill (e.g. Sept 1 for an August-something thru September something billing cycle).
Additional details: Chase just sent a letter summarizing the revised terms associated with my product-change this weekend from a Freedom to the Reserve. Regarding the annual membership fee, it states “Revised Terms: $550.00; Effective Date of Revised Terms: 8/17/2025”
The letter also listed the same effective date for the Authorized User Annual Membership Fee, noting that the $75 fee for each additional card will be effective 8/17/2025.
It’s annoying they’re delaying the new benefits for current cardholders until late October. It’s almost like they’re trying to create more breakage in the benefits that reset every 6 months :-/
So what are the 75 Spending Benefits worth really …also when are Chase Sapphire lounges going to be mainstream in more USA cities…currently Portland Oregon has nothing. Many of these perks seem better for those in large cities. I find booking through Chase travel portal not a great experience…seems to be offshore agents and higher prices than I can find myself. Will the Shops at Chase credit be a limited array of shops with stuff I really dont want?
If you have the regular Saphire, will you be able to apply for the “new” Reserve (and net the signup bonus), or are you unable to have both?
The terms are unclear on that, but many people have reported being rejected for the new Sapphire Reserve due to having the Sapphire Preferred open (and so I expect the same for the old Sapphire card)
Here’s a “product change” data point for those who may find it helpful:
TL;DR
– Successfully product changed from CF to CSR before the card’s policy change date of Jun 23
– First had to increase CF’s credit limit to minimum of $10K to meet CSR requirements
– Rep said that annual fee will post “within 1 to 4 months”.
BACKGROUND/USE-CASE
– already have a CSP and a Freedom
– CSP just renewed this month ($95 annual fee posted Jun 1)
– like to use UR’s to take advantage of “open-jaw + combinable fares” rules for cash tickets purchased with points via the Chase travel portal (a subject for another day, please…let’s stay on topic regarding CSR’s annual fee change so we don’t hijack the thread)
GOALS
1. Raise the “floor” value of my current 350K+ UR balance from 1.25 to 1.5 CPP, a hedge against potentially losing ~$900 in value if the Points Boost opportunities on the CSP wind up being a disappointment
2. Gain the new CSR benefits at the existing $550 price point through mid to late 2026 (net $250 after $300 credit), and through late 2027 should I choose to retain the card
3. Reduce the functional cost of this move by downgrading CSP to a Freedom within 30-day window for a full reimbursement of the $95 annual fee (claws back sunk cost of CSP, functionally making this a $455 upgrade from CSP to CSR…a net of $155 after accounting for the $300 travel credit)
ASSUMPTIONS/RISKS
– rep’s reference to “1 to 4 months” for the annual fee to appear on the product-changed card’s statement…something the rep had to place me on hold for while looking up or asking someone…is not a concrete date that instills a sense of certainty
– the product-changed card’s billing cycle (the CSR) appears to remain the same as before (when it was a Freedom), so this particular account’s new billing cycles should end on the 20th of July, August, September, and October…all dates that are before the Oct 26 date when the new fee can be applied for existing cardholders
– on the other hand, if the “1 to 4 months” doesn’t include the current billing cycle (thru July 20), and thus the clock starts ticking afterward, there’s a possibility that the annual fee posts 4 *full* billing cycles later, showing up on Nov 1st of the billing cycle ending Nov 20th
Not a CSR holder, happy with the CIP, and downgraded my CSR years ago for good reasons (for my situation).
When trying to estimate value on these choices of upgrade now vs apply new:
For me I only value the $300 travel credit and Peloton credits as face value, no-work-at all. The other credits will require a tangible amount of work (measured in real minutes/hours). So the analysis for me anyway, with known unknowns (what will the SUB be?), choices are:
-Upgrade my Freedom now, will get the AF refunded [$550-($300×2)-any peloton] along with some amount of credits otherwise that can be used. The main additional upsides are the potential use of the credits, albeit with a tangible amount of work and of not-straighforward (dubious?) value. As described by Archie below, the best case is $1500 value for $550. The $1500 comes with a big *
-Apply new, with hopefully a big SUB; net cost without any work is [795-300-120 = $375], with some amount of credits used otherwise — in this instance the worst case is a cost of $375 offset by the SUB. Getting say 150K URs for $375 is well worth it for example, without getting any value at all out of the other benefits. A way to reap a net benefit without hiring an accountant. Anything else is gravy.
Not sure what the SUB would be but anything at least 100K with a cost of $375 is much better than a potential value of $1500 for $550 cost, for what I need/value at the moment.
Therefore I am going to gamble on the latter, as I need points more than coupons.
I suppose the worst case scenario is I am not approved with an offer, then oh well. Will keep looking for SUBs elsewhere.
Maybe this jives with others in the same situation
So am I understanding this correctly? If I upgrade to reserve today I could get: two $300 travel credit (use first $300 from now until first annual $550 fee post in October 2025 and use again from 2025 October to 2026 October), $450 (3X$150) reserve table, $450 (3X$150) stubhub until October 2026. And I can downgrade back to preferred in October 2026 if I want to and avoid paying $795. Can someone confirm my math adds up correctly?
$1500 easy value for $550 annual fee until October 2026 with an option to downgrade in October 2026. If this is accurate it would be a good option.
*easy
$600 easy for sure + $450 stubhub not too hard if like to go to games, shows or concerts. + $450 dining is also easy if you live in major metro city. Edit hotel credit is extra on top of these. I’m just not sure if the $300 travel credit can be used twice in first year.
Benefits noted, but for me, I am not relying on those credits as being a slam dunk or easy for me to count towards me net cost, esp at face value. The good thing is that it seems there is something for everyone, based on what works for their situation
With the product change my understanding from FM is that the the 300 can be used from date of conversion until new AF date (thought to be 9/1 or 10/1 if one PCs now) and then again before the next 795 AF posts. Double check though, was discussed in last pod.
Yeah but I think Greg was completely wrong on that $300 travel credit being used twice before the new $795 AF post next year. Hoping not, but everyone else saying otherwise.
Greg clarify how we use the $300 travel credit twice BEFORE the new $795 AF post next year!!!
The idea of using the credit twice was contingent upon the idea that upgrading to the CSR resets your cardmember anniversary to a few months from now. If so, you should get charged the old annual fee in a few months and then have access to the second $300 travel credit.
I still think you are wrong on this one. One of the main reason I upgraded was this $300 travel credit being used twice before 2026 AF date as you said in The podcast very confidently. Now I’m regretting upgrading it, should have just waited and downgraded and applied to the new Reserve… please next time say you are not 100% sure or based on your experience this happened and YMMV…
The $300 was always simple as it could include tolls, transit, and parking. Now if it is limited to airfare and hotels exclusively, it may be much less appealing. Granted, this is a travel-geared, but for those off years where no real travel is taken, using that credit for other items was always the no-brainer for me. I’d say for some people, myself included, the $300 is not so much a guarantee anymore and is more of a ‘probably maybe but not for sure’.
It’s not limited to airfare/hotels
Greg, if someone is upgrading, what makes you think they will get a new account date in September or October? Wouldn’t we keep the anniversary date of our old Sapphire or Freedom card?
Multiple people have confirmed getting new anniversary dates when upgrading. My recent downgrade/upgrade changed my anniversary date to September
Thanks Greg!
Now we need a comparison chart to downgrade to Sapphire card
Wait, so is Bavel and Bestia not eligible for the dining credit in Los Angeles? They are listed here: https://www.opentable.com/visa/los-angeles
Yeah unfortunately I had it wrong in the initial post. That’s a wider list. The included list is much smaller and only includes the ones I’ve now listed in the post.
Does this mean that Chase officially got back to you and confirmed that it’s this crappy smaller list?
Yes sort of. They didn’t word it exactly like that
Can you get elite night credits and status benefits from The Edit hotel stays as you can with FHR?
Ah, I see that they DO. That tips the scales – depending on what hotels we get access to. We pretty much always use the FHR credit every year (though FHR allows one night stays and The Edit requires two), I think it would be fairly easy to use this once or twice a year. We do a lot of hotel stays, sometimes for cash, and getting guaranteed benefits on top of globalist is always nice and getting elite night credits on top of that is superb. Now, to investigate what hotels they actually have available where and at what prices.
Do we know if authorized users get lounge access + two guests? Or just for themselves? As a family of four, debating between this or Ritz card. I hesitate with the Ritz card because we barely stay at Marriott, and I don’t think they have the same access to the Sapphire lounge with reservations, etc.
Yes they do get two guests. Ritz: unlimited guests and same access to the Sapphire Lounge.
Definitely will be moving away from CSR. New “benefits” are of no value to me. I will never earn that $795 back. Now the search begins for a replacement. Massively disgusted.
Altitude reserve.