Chase Sapphire Reserve Credit Card gets a huge facelift: Benefits, annual fees, how to get it
Chase Sapphire Reserve Credit Card: America's largest credit card issuer Chase announced major changes to its Chase Sapphire Reserve card on Tuesday.
Popular among credit card enthusiasts who like to collect points as well as travel enthusiasts, this credit card issued by JPMorgan Chase & Co will now offer extended benefits to its customers – perhaps making it the best one for those who like to travel.
How to get Chase Sapphire Reserve credit card?
Chase Sapphire Reserve credit card is one of the best credit cards for points enthusiasts. And while there is no official word from the company about what exactly is required to get this coveted card, your credit score should be good enough to get a hold of it.
Earnings also matter when you apply for any credit card. In this case, it can be assumed that like all other credit cards, the Chase Sapphire Reserve credit card requires you to earn enough to cover the annual fee and the credit line.
You may be denied a Chase credit card if you've opened five or more credit cards in the previous 24 months, according to a report by CNBC.
Also Read | American Express to make largest ever investment in Platinum Credit Cards
Chase Sapphire Reserve benefits
With the new look, Chase has unveiled added benefits for its Sapphire Reserve credit card. It has also unveiled a Sapphire Reserve for Business card for customers who spend $120,000 a year.
Customers who book their flights within the Chase Travel portal now earning 8x Ultimate Rewards points, up from 5x previously.
You can also earn 8x rewards on bookings for hotels, rental cars, cruises, activities, and tours.
If you book flights and hotels with the companies' portals through Chase Sapphire Reserve credit card, you can earn 4x reward points, instead of the current 3x.
However, dining purchases will keep earning 3x reward points through the Chase Sapphire Reserve credit card.
The perks further include a credit at a new online store called Shops at Chase. Cardholders will further get special status at IHG Hotels & Resorts and Southwest Airlines.
A new feature called Points Boost, which is set to launch on June 23 for existing cardholders, raises the value of each point from 1.5 cents to 2 cents per point on certain specific airline routes.
Also Read | THESE 6 credit cards are a good bet for shoppers, check list here
Chase Sapphire Reserve credit card fees
With all the benefits in place, the annual fees of the Chase Sapphire Reserve credit card has gone up markedly.
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Mint
3 days ago
- Mint
Chase Sapphire Reserve Credit Card gets a huge facelift: Benefits, annual fees, how to get it
Chase Sapphire Reserve Credit Card: America's largest credit card issuer Chase announced major changes to its Chase Sapphire Reserve card on Tuesday. Popular among credit card enthusiasts who like to collect points as well as travel enthusiasts, this credit card issued by JPMorgan Chase & Co will now offer extended benefits to its customers – perhaps making it the best one for those who like to travel. How to get Chase Sapphire Reserve credit card? Chase Sapphire Reserve credit card is one of the best credit cards for points enthusiasts. And while there is no official word from the company about what exactly is required to get this coveted card, your credit score should be good enough to get a hold of it. Earnings also matter when you apply for any credit card. In this case, it can be assumed that like all other credit cards, the Chase Sapphire Reserve credit card requires you to earn enough to cover the annual fee and the credit line. You may be denied a Chase credit card if you've opened five or more credit cards in the previous 24 months, according to a report by CNBC. Also Read | American Express to make largest ever investment in Platinum Credit Cards Chase Sapphire Reserve benefits With the new look, Chase has unveiled added benefits for its Sapphire Reserve credit card. It has also unveiled a Sapphire Reserve for Business card for customers who spend $120,000 a year. Customers who book their flights within the Chase Travel portal now earning 8x Ultimate Rewards points, up from 5x previously. You can also earn 8x rewards on bookings for hotels, rental cars, cruises, activities, and tours. If you book flights and hotels with the companies' portals through Chase Sapphire Reserve credit card, you can earn 4x reward points, instead of the current 3x. However, dining purchases will keep earning 3x reward points through the Chase Sapphire Reserve credit card. The perks further include a credit at a new online store called Shops at Chase. Cardholders will further get special status at IHG Hotels & Resorts and Southwest Airlines. A new feature called Points Boost, which is set to launch on June 23 for existing cardholders, raises the value of each point from 1.5 cents to 2 cents per point on certain specific airline routes. Also Read | THESE 6 credit cards are a good bet for shoppers, check list here Chase Sapphire Reserve credit card fees With all the benefits in place, the annual fees of the Chase Sapphire Reserve credit card has gone up markedly.
Time of India
3 days ago
- Time of India
Sapphire Reserve: Amex, JPMorgan Chase tease major updates amid intensifying credit card battle
Sapphire Reserve, Amex rivalry Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Chase Sapphire Reserve is getting a major update and it's coming at a higher cost which includes a higher annual fee of $795. Chase is also launching the Chase Sapphire Reserve for Business card as a premium luxury business travel card, reports Bloomberg as part of an overhaul marking the biggest US bank's latest volley in the ultra-competitive world of premium credit cards JPMorgan Chase on Tuesday unveiled an update to its premium credit card, which will now carry a $795 annual fee, a 45% jump from its previous level. The development at a time when American Express teased updates coming later this year to its travel-focused Platinum credit cards, announcing what it called its 'largest investment ever' in a credit-card long-running rivalry between the country's top premium credit cards is about to heat up again. While JPMorgan Chase announced last week that a revamp of its popular Sapphire Reserve card — known for its travel and dining perks since its viral 2016 debut — is on the also is now offering complimentary subscriptions to Apple's (AAPL) Apple TV+ and Apple Music through June 22, 2027; up to $300 annually in DoorDash (DASH) credits; up to $300 annually in StubHub credits for concert and event tickets; and up to $500 annually in hotel credits for some prepaid bookings made through The Edit by Chase response, American Express revealed Monday that significant updates are planned for both its consumer and business Platinum cards later this year. Though details remain scarce, the company described the upcoming changes as its most substantial investment in a card refresh to date.'We're going to take these cards to a new level, not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel,' Howard Grosfield, Amex's group president for US consumer services, said in a statement raised its Platinum card annual fee to $695 in July 2021, when it also added $200 in annual hotel credits. Since then, the New York-based company has faced intensifying competition for premium credit-card customers, including from JPMorgan Chase & Co.'s Sapphire Reserve card and Capital One Financial Corp.'s Venture X Rewards Express was a trailblazer in the premium credit card market, introducing cards that combined travel and hotel perks with access to its exclusive airport lounges. That dominance was challenged in 2016 when JPMorgan disrupted the space with its Sapphire card, offering a generous sign-up bonus and a range of attractive analysts expect the rivalry to intensify, with both companies likely expanding their offerings in travel, dining, and experiences—while also potentially increasing annual fees, a trend seen in recent the Amex Platinum card carries a $695 annual fee, compared to $550 for the JPMorgan Sapphire has surfaced on Reddit and other online forums that JPMorgan may raise the Sapphire's annual fee to $795, though a company spokesperson declined to address the to Grosfield, the updated Platinum card is scheduled to debut this fall.
Time of India
3 days ago
- Time of India
JPMorgan Chase Sapphire reserve card just got pricier at $795 — here's what the bank is offering at the price
JPMorgan Chase & Co. has announced a comprehensive overhaul of its popular Sapphire Reserve credit card, raising the annual fee from $550 to $795 in a strategic move aimed at further penetrating the high-spending premium travel market. The revamp also includes the introduction of a similarly priced business version, placing JPMorgan squarely in competition with rivals like American Express and Capital One in the race to court affluent customers. The fee revision marks the first increase in five years and comes alongside sweeping enhancements in rewards and exclusive benefits tied to the card's use in travel and dining, reinforcing JPMorgan's ambition to become a full-service travel and lifestyle brand. Travel, Dining at the Heart of New Benefits As part of the Sapphire Reserve transformation, JPMorgan is integrating a number of premium credits into the card's offering. Notable among them is a $500 annual credit towards stays in 'The Edit,' a curated luxury hotel collection, and a $300 credit on OpenTable's exclusive dining experiences—offered only to consumer cardholders. The existing $300 travel credit remains in place, as mentioned in a report by Bloomberg. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Audiologists Furious About New 80€ Device That Makes Hearing Crystal Clear Again Top Trending Today Learn More Undo Also Read | Oil is boiling again: Will $5 gas return to America as Iran-Israel conflict ignites market fears? In terms of rewards, the bank has revamped its points system. Cardholders can now earn eight points per dollar on bookings made via Chase Travel—up from the previous five points for flights and ten for hotels and car rentals. Additionally, the card offers four points per dollar on flights and hotels booked directly (up from three), and three points per dollar spent on dining. Live Events 'This marks the culmination of a five-year journey to redefine our value proposition in the premium-card space,' said Allison Beer, head of card and connected commerce at JPMorgan, as mentioned in a report by Bloomberg. 'We have built a best-in-class travel ecosystem to deliver a seamless end-to-end experience.' Consolidating Acquisitions for a Unified Experience The overhaul is a result of JPMorgan's strategic acquisitions in the past few years, aimed at strengthening its footprint in the travel and lifestyle domain. These include the 2020 acquisition of rewards platform cxLoyalty, the 2021 purchase of restaurant discovery site The Infatuation, and subsequent acquisitions of marketing firm Figg and luxury travel agency Frosch in 2022. JPMorgan has also expanded its airport lounge network, opening six premium lounges across the United States accessible to Sapphire Reserve holders, with more planned in the pipeline. Strategic Positioning in Wealth and Travel Marianne Lake, CEO of consumer and community banking, emphasized JPMorgan's broader strategy during the bank's recent investor meetings. 'Travel is at the core of our card strategy,' she stated, adding that the firm has more than doubled travel volume from 2021 to 2024, underscoring its deepening commitment to the sector, as per a report by Bloomberg. Lake also noted that half of new Chase customers enter the ecosystem through the card business. JPMorgan hopes the Sapphire Reserve will serve as a gateway to additional services like self-directed investing and wealth management—core elements of CEO Jamie Dimon's long-term expansion strategy. 'Once customers come in through Sapphire Reserve, they deepen across the ecosystem—whether it's investments, banking, or wealth management,' added Beer. FAQs What major change has JPMorgan made to the Sapphire Reserve card? JPMorgan Chase & Co. has increased the annual fee for the Sapphire Reserve credit card from $550 to $795, marking its first fee hike in five years. This is part of a broad revamp aimed at premium travel-focused customers. Why is the annual fee being raised to $795? The fee hike reflects a strategic shift toward offering luxury travel and lifestyle benefits, including new high-end perks and expanded services that cater to affluent cardholders. It positions JPMorgan to better compete with American Express Platinum and Capital One Venture X cards.
