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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Has anyone renewed a card early? I just looked and my card renews on 7/1 so I’d be curious if I could re-up at $550 before the AF increase…
If the 3x on general travel goes away, I am definitely cancelling. I am sick of coupon book cards.
[…] shalt render unto Chase $795 in annual tribute, plus $195 for each […]
795 is not going to work for many customers. It’s better they adjust their benefits and still keep the AF under $600
Would a refresh of the Ritz be on the horizon to be in line with the upcoming changes to CSR?
Before people go canceling, think about a past Chase actions. Back in 2020, Chase upped the AF to $550. Then Covid happened and most of us got a $100 credit. I think the blowback on Chase will be really bad. I plan on downgrading to a CSP. But I am kinda over URs. I don’t think they’re sacred because of Hyatt. With all the Hyatt devaluations and category changes, Hyatt to me is big meh! If one is a Globalist that travels with family, the suite upgrades give you guys value. But for us who only travel as a couple, sometimes just one person (and neither of us is a Globalist), using URs for Hyatt isn’t as earth shattering.
Hyatt’s value is overblown by those who can travel enough to spend weeks or months in them every year (and get Globalist with that). I’ve gotten some good Hyatt redemptions here and there but also pass on them a lot due to the location not being in proximity to what I want to see or not being able to find one in some cities. I certainly don’t blow through my UR balance because of all my Hyatt stays.
I’m hoping to pick up the Aeroplan card and make UR sacred because of PYB through that for general travel purchases (at ~1.6cpp). I really hope Chase doesn’t take a chopping block to the CSR 1.5cpp redemptions through the travel portal, as I think that bodes poorly for all PYB opportunities if they do.
If they make these changes, I’d hate to say it, but I’d probably cancel my sapphire, freedom, freedom unlimited, and my business ink card and move elsewhere.
I’ve had the CSR since it came out. I also own the CSP. If they get rid of that $300 travel credit, then I’m out. The annual fee is too expensive for what it offers (if these rumors are true) and the majority of couponized benefits, really don’t benefit me.
I spoke to a Chase supervisor today, after our business I asked about CSR, she said “seems like” Chase is doing away with the $300 travel credit on the Sapphire Reserve, didn’t know (or even heard ) about the 1.5 boost on portal going away.
No way I would pay $795 annual fee even if the $300 credit is maintained. I know I will always use at least $300 and travel usually within the first two months of the billing cycle so I consider this annual fee to be 250 anyways. I currently live in Canada, and most of the existing coupons are not eligible for expenses outside the United States, so it’s already a serious calculation for me to keep the card. What keeps me is the priority pass lounge access, the new access to most Air Canada Maple leaf lounges, the ease of transferring points to United, Air Canada, or Air France. I can get the Nexus/global entry fees refunded from my Canadian cards so thats not an issue.
I keep CSR because no other premium card, US or Canadian, offers the level of benefits for $250. But if that fee is $795 or even $445 there are other fish in the sea.
We’ve had the CSR card zince it came out. We’ll cancel if these are the final changes/benefits. No where near as valuable as other cards on the market.
I am currently holding CSP. Im thinking to upgrade to CSR before refresh. I want to know if the current ( before refresh ) benefits will be available for me for 1year?
New refresh doesn’t work for me.
We don’t know yet. There’s a good chance that the current benefits will last until your next annual fee comes due.
Do you think it is worth upgrading to the CSR before the AF increases from $550 to $795? My CSP AF posted in May, so I would only pay the difference between the CSR $550 AF and the CSP $95 AF? I wouldn’t get charged the $795 until the next AF date in May 2026, right? Thank you.
Honest question: Are people OK with this couponization (discounts on certain often non-travel products and services dribbled out in set doses), usually at the cost of a higher annual fee and even removal of readily usable travel benefits? Don’t they get pushback from relatively high end customers? I think the keep/cancel decision moves significantly against “keep” if the value of a card depends heavily on on getting $7 of donuts a month or three times a month nominal Lyft discounts.
If the revamped Sapphire Reserve card does turn out like we’ve listed it in the post, while also removing the $300 travel credit and eliminating 1.5c redemptions in the Chase Travel portal (those latter two are bigger unknowns right now), I think Chase will have severely misjudged the couponization for people who pay attention and it will result in many people cancelling or downgrading their cards.
However, I imagine that there’s a not-unsubstantial number of cardholders who simply don’t pay enough attention to this. They might not even notice the annual fee increasing and even if they do, they might not notice that the $300 travel credit goes away (if it does indeed go away). They might just think it’s business as usual and keep using the card as an all-in-one travel and dining card.
How does no one mention the fact that Chase is eliminating the 1.5x redemption on all points you accrue with all your Chase cards through Ultimate Rewards. This is the most valuable part.
We don’t know if that’ll be happening yet
If they offer 150k-200k points as a sign up bonus, I may apply for it. I had the card 5 years ago, got 100k points and cancelled after first anniversary. Planning to do the same this time.
If they ditch the $300 travel credit and replace it with what’s listed above then I will be sending my card in at the earliest convenience.
They can F right off.
I don’t spend $75K on the card in a year but even if I did Southwest might actually be the most useless airline for me to get any kind of status with.
I will reserve judgement but… if even half of this becomes fact it’s buh-bye to Chase