The Chase Changes

If you haven’t yet seen the news, Chase has just released a massive update to their flagship credit card, the Sapphire Reserve. With a $245 increase in annual fee, the Sapphire Reserve is now more than 70% more expensive then when it launched less than a decade ago. With such an increase in annual fee, let’s take a look to see if the benefits are worth the $795 price tag.

The new update now features a variety of changes, but first we will look into the earnings categories. Perhaps one of the largest changes is the 4x points on all flights and hotels booked directly with an airline or hotel brand. This is increased from the 3x that was practice in past years but still comes up short of the Amex platinum card who awards 5x on direct bookings. The next big change comes from the increase in earnings while booking in the Chase portal. What used to have a variance based on the travel category you were purchasing, from 5-10x points, Chase has now made it a clean 8x earnings. This multiplier goes into affect for airlines, car rentals, hotels, cruises, etc. booked directly in the portal. The dining will remain the same at 3x points per dollar spent up to $300 annually along side the 1x earnings on all non-bonus categories.

While these changes may reward you in a verity of places, they certainly do not make up for the increased annual fee. Chase has made it vary clear that they are looking to rival other players in the market by supplying a ton more credits and redeemable perks. 

Chase will maintain their $300 annual travel credit that matches the best offer on the market in this category. Any travel purchase on your card would be wiped out on your statement up to the allotted amount. Along this note, they have now included a $500 credit to their flagship Edit Hotels brand. There are a few asterisks associated here as the credit will be split into 2 separate credits, allocating you $250 semi-annually. There is also a 2 night minimum associated with this card. And since we are on the topic of semi-annual perks, the dining credit will be (2) $150 credits to be redeemed for “Sapphire Reserve Exclusive Tables.”

The rest of the credits are smaller in value and more complex to keep up with as there are so many. A few worth mentioning are the $250 AppleTV and Apple Music combined credit, a $300 (split into two semi-annual credits) StubHub credit for tickets, and $120 in DoorDash credits ($10 monthly). 

The final MAJOR change with the onslaught of updates is that the standard 1.5cpp when redeeming in the Chase Travel Portal will be no more. While most people understand that redeeming directly within the portal is typically a waste of points, there are occasions where the process is just more simple for folks who don’t want to learn all about transfer bonuses; however, the ability to book at some value greater than a nominal 1cpp was convenient. The change brings the standard redemption value down to 1cpp but the financial giant will now offer what will be known as a ‘Points Boost’ benefit which will allow users to book at up to 2cpp at all Edit Hotels and also rotating airlines. 

These changes were bound to come as competition has been steepening in the credit card world but Chase took it to a new level. Overall Chase is marketing the upgrades as providing north of $2,500 in value for their $795 credit card with a new $195 authorized user fee as well. Would you pay nearly $1,000 for you and your spouse to carry this credit card?