The Chase Sapphire Reserve® just got a major update to it’s benefits, eligibility, welcome offer and annual fee! Is this premium card worth it!? The card offers more than $2,700 in annual value if you take advantage of all of the benefits! There are a lot of positive changes and some changes I’m not crazy about! Keep reading to see if this card is worth a spot in your wallet! (You might be surprised!)

Chase also introduced the new Chase Sapphire Reserve for Business® card! You can read all about my take on this new card -> HERE!

🚨 Intro Offer!

This is this card’s best offer ever! (As I think it should be, with the annual fee hike!) Earn 100,000 bonus points + $500 Chase Travel℠ promo credit after spending $5,000 within three months.

New Eligibility Rules for the Chase Sapphire Preferred® Card & Sapphire Reserve

I will continue to update this as new data points come in, but here’s what we know so far.

If you currently hold the Chase Sapphire Preferred® Card, you are not eligible for the welcome offer on the Chase Sapphire Reserve and vice verse. However, you can downgrade your Chase Sapphire to a Freedom card, and then apply for the other Chase Sapphire card and still be eligible for the welcome offer.
You are eligible to earn the welcome offer on a personal Sapphire card while holding the Chase Sapphire Reserve for Business and vice verse.

Until June 23, 2025, cardmembers were only eligible to earn one welcome offer on ANY personal Sapphire card (the Sapphire Preferred or the Sapphire Reserve) once every 48 months. You can now earn the welcome offers on both personal Sapphire cards with no time restraints, as long as you don’t currently hold the other personal Sapphire card. (This would look like closing or downgrading your personal Sapphire card before applying for the other personal Sapphire card.)

“Once in a lifetime language” - New terms and condition language suggest you will not be eligible for a welcome offer on a Sapphire card if you have earned the welcome offer in the past.

New offer details say: “This credit card is unavailable to you if you currently have one open. The new cardmember bonus may not be available to you if you currently have any other personal Sapphire cards open, previously held this card or received a new cardmember bonus for this card. We may also consider the number of cards you have opened and closed, as well as other factors in determining your bonus eligibility.”

Annual Fee Increase

The annual fee increased from $550 to $795, and the authorized-user fee is increasing from $75 to $195. This takes effect for new applicants June 23, 2025, and for existing Sapphire Reserve cardholders after October 25, 2025.

While this is a steep annual fee, the benefits, credits, and welcome offer may still make this card worth it for you!

Category Multipliers

8× points on Chase Travel portal bookings (previously 5x on flights and 10x on hotels through Chase travel)

4× points on direct flight and hotel bookings (previously 3x on ALL travel purchases)

3× points on dining

1× point on all other travel types (e.g., transit, rideshares, Airbnb, etc)

Chase Sapphire Reserve® Cardmembers Continue to Receive:

$300 annual travel credit. This applies to any purchase that codes as travel and the statement credit will be automatically applied.

$120 Global Entry, TSA Precheck or Nexus credit every four years

Airport Lounge Access. Get access to the Chase Sapphire Lounge by the Club & Priority Pass lounges and up to two guests. Get access to Air Canada Maple Leaf Lounges and Air Canada Cafes when traveling on a Star Alliance airline for the cardholder and one guest.

Travel Protections & Benefits. $0 foreign transaction fees. Travel protections including Auto Rental Coverage, Trip Cancellation and Interruption Insurance, Trip Delay Reimbursement, Travel Accident Insurance and more.

$10/month in Lyft credits through 9/30/27.

DoorDash & DashPass Benefits. Each month, you get $25 in promos (a $5 restaurant promo and two $10 promos to spend on groceries, beauty, electronics and more. You also get complimentary access to DashPass for 12 months when activated by 12/31/27.

Complimentary access to Reserve Travel Designers

🔥 New Benefits

These new benefits take effect for new applicants June 23, 2025, and for existing Sapphire Reserve cardholders after October 25, 2025.

$500 annual The Edit credit. Get up to $250 in statement credits from January through June and again from July through December for a maximum of $500 annually for prepaid bookings made with The Edit. Two-night minimum. Enjoy complimentary benefits like a $100 property credit, daily breakfast for two, room upgrades (if available) and more.

Complimentary IHG One Rewards Platinum Elite Status through December 31, 2027

$300 Annual Dining Credit. Get up to $150 in statement credits from January through June and again from July through December for dining at restaurants that are part of Sapphire Reserve Exclusive Tables. Just pay for your dining with your Sapphire Reserve card to automatically receive the credit.

Complimentary subscription to Apple TV+ and Apple Music. (worth $250 annually) One time activation is required per service.

$300 StubHub and viagogo credit. Get up to $150 in statement credits from January through June and again from July through December. Activation is required.

$10/month towards Peloton Membership purchases through 12/31/27.

Premium Benefits Unlocked with $75,000 Spend If you spend $75,000 each calendar year, you’ll unlock IHG One Rewards Diamond Elite Status, $500 Southwest Airlines Chase Travel credit, Southwest Airlines A-list Status, and a $250 credit for The Shops at Chase.

NEW! Points Boost

What’s changing - Chase is replacing 1.5x on Chase Travel redemptions for Sapphire Reserve cardholders and 1.25x on Chase Travel for Chase Sapphire Preferred® Card holders with Points Boost. One simple way to look at these 1.5x and 1.25x redemptions were that you could book $1,500 worth of travel in the Chase Travel portal for 100,000 points (1.5x) if you held a Sapphire Reserve and you could book $1,250 worth of travel in the Chase Travel portal for 100,0000 points (1.25x) if you held the Sapphire Preferred. I loved the simplicity of this, but Points Boost is taking it’s place.

What is Points Boost? Points Boost allows eligible cardmembers to redeem Ultimate Rewards points at a higher rate (up to 2x depending on the card and offer) when booking select airline tickets and hotel accommodations through Chase Travel.

Points Boost for Chase Sapphire Reserve and Chase Sapphire Reserve for Business Cardmembers can redeem points in Chase Travel at a higher rate when booking select premium air cabin tickets and hotels that will be redeemable at a rate of 2x for Chase Sapphire Reserve cardmembers replacing 1.5x on all Chase Travel. Points can be redeemed at a 1:1 rate for all other Chase Travel purchases that are not eligible for points boost offers.

Points Boost for Chase Sapphire Preferred and Ink Preferred Cardmembers can redeem points in Chase Travel for up to 1.5x on thousands of hotels and flights and up to 1.75x on premium cabin tickets on select airlines, replacing 1.25x on all Chase Travel. Points can be redeemed at a 1:1 rate for all Chase Travel purchases that are not eligible for Points Boost offers.

When do the Points Boost changes take effect?

Points Boost takes effect for all new applicants June 23, 2025 and beyond.

For cardmembers who applied prior to June 23, 2025, points earned prior to October 26, 2025 are eligible to be redeemed at a 1.5x through Chase Travel with a Sapphire Reserve or 1.25x with a Sapphire Preferred until October 26, 2027. For points earned prior to October 26, 2025, eligible cardmembers will automatically receive the best offer available, whether it’s Points Boost or 1.5x/1.25x on Chase Travel. After October 26, 2027, points can be redeemed at a 1:1 rate for all Chase Travel purchases that are not eligible for Points Boost offers.

My take:

I don’t love this change. The 1.5x redemption rate was a great value for a travel portal redemption and simple to use. We will see what flights and hotels qualify for Points Boost, but now more than ever I will encourage you to transfer your points to get the most value out of your points!

Bottom Line

I decided with these changes that I am going to try out the Chase Sapphire Reserve for a year because the increased welcome offer and benefits outweigh the high annual fee 🤯 I will re-access after a year if it is worth keeping track of all the credits and remembering to use them before my annual fee hits again!

What about you? With the big welcome offer and new benefits, it may be worth it for some!

As always, I appreciate it so much when you use my credit card affiliate links to apply for a new credit card! It supports my small business at no cost to you!

Major Updates to the Chase Sapphire Reserve®