Latest news with #SapphirePreferred
Yahoo
3 days ago
- Business
- Yahoo
Chase Sapphire Reserve card members will see a major fee increase: Here's when and what to expect
The chase is on among premium credit card issuers. Pentagon Pizza Index: The theory that surging pizza orders signal global crises 5 signals that make you instantly more trustworthy at work How Field Notes went from side project to cult notebook JPMorgan Chase has announced some big changes to its high-end Chase Sapphire Reserve credit card, which include a hefty new annual fee of $795, up from $550. The Sapphire Reserve card, which is known for its slate of perks and benefits including travel credits and access to airport lounges, is also getting a counterpart in the Chase Sapphire Reserve for Business card. When the card was first introduced in 2016, the annual fee was $450, so it has increased by more than 75% since then. Interestingly, customers don't seem to mind: The amount paid in annual fees totaled $6.4 billion in 2022, more than double the $3 billion paid in 2015, according to a 2023 report from the Consumer Financial Protection Bureau (CFPB). According to Chase, customers still have a few days to sign up for the card at the old rate. If you're already a Sapphire Preferred member, or if you sign up before Monday, June 23, you can expect the same benefits and fee through October 25 of this year. Though the fee is increasing significantly, there will be new card designs, and new credits and benefits that arrive along with the revamp. Specifically, for cardholders who spend at least $75,000 per year on their cards, there will be new perks, such as exclusive online shopping experiences, and status rewards at IHG Hotels, and Southwest Airlines. Points earnings rates and multipliers are also changing through a new Points Boost program. The new Business card will also have credits for services from ZipRecruiter, Google Workspace, and more. 'It's the culmination of five years of investment that we've made across Chase in completely uplifting and repositioning what we mean for premium travelers in the premium-card space,' Allison Beer, JPMorgan's head of card and connected commerce, told Bloomberg. 'This is about having the best-in-class travel assets and an end-to-end travel experience.' Chase's announcement comes shortly after American Express, one of its chief rivals in the credit card space, teased a forthcoming overhaul to its premium Platinum Card. Details are scarce, but those changes are expected by the end of the year. The Platinum Card currently has a $695 annual fee. In all, the board is set for Chase and Amex to duke it out with their premium offerings, which might provide some serious perks to customers who can afford them. 'We're going to take these cards to a new level,' Amex's said Howard Grosfield in a statement, 'not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel, to meet the evolving needs of our customers.' This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
4 days ago
- Business
- Forbes
Can You Combine Chase Points From The Sapphire Reserve For Business With The Sapphire Reserve Or Preferred?
Combining points across Chase cards can be a strategic move to maximize both the earning and redeeming potential of your Ultimate Rewards®. Historically, Chase has only allowed you to have one Sapphire Card at a time, but soon you'll be able to hold the Chase Sapphire Reserve for Business card* (launching on June 23) and the Chase Sapphire Reserve® or Chase Sapphire Preferred® Card. Points from Chase's new premium business card will be able to be pooled with rewards from both of these consumer cards and a few no-annual-fee cards. Here's what you need to know about combining Chase points and how it can upgrade your travel plans. Points pros have long relied on utilizing multiple Chase cards. It's particularly lucrative with a Chase trifecta, or a combination of cards that take advantage of the highest earning opportunities and the best redemptions. The Sapphire Reserve for Business earns 8 points per dollar on Chase Travel purchases, 5 total points per dollar spent on eligible Lyft rides (through Sept. 30, 2027), 4 points per dollar on flights and hotels booked direct, 3 points per dollar on social media and search engine advertising, 1 point per dollar on all other purchases. That's great for travel, but earning 1X at restaurants and other everyday expenses can easily be beaten by other Chase cards like the Sapphire Preferred or Freedom Unlimited—which earn 3X at restaurants. Transferring points to the Sapphire Reserve for Business could also give them more value if used to book with the card's new Points Boost program. With Points Boost, rewards can be redeemed for up to 2X when booking select hotels and flights with Chase Travel. Ultimate Rewards from the Sapphire Reserve for Business can also be transferred to over a dozen airline and hotel partners at a 1:1 ratio, including World of Hyatt and United Airlines MileagePlus. I regularly get double the value from my miles with points transfers like this. Moving points to the Sapphire Reserve for Business is essentially a way to give other cards access to transfer partners and Points Boost bookings. Ultimate Rewards earned on both consumer and business Chase cards can be combined under one card. Savvy cardholders move points to the card with the most valuable redemption options, like the Sapphire Reserve for Business. If you hold multiple Chase cards, points can be transferred from one card to another, even if you have a mix of business and consumer cards. Points can also be combined with one other person in your household as long as you share the same address. To combine points, follow these steps: If you plan to combine points from a Chase business card with a consumer card, you'll need to call the number on the back of your business card. Additional security verification may be needed for the initial points is instant. You should see the new balance reflected in both accounts in just a few moments. Cards that earn Ultimate Rewards points can be paired with the Sapphire Reserve for Business. Top recommendations include: The best card combinations offer earnings and benefits that have minimal overlap. Getting the Sapphire Reserve for Business and a card like the Chase Freedom Flex® or the Ink Business Cash® Credit Card allows you to earn in multiple categories while paying one annual fee. With the launch of the Sapphire Reserve for Business, Chase has turned a page on a longstanding rule that only allowed a person to hold one Sapphire card at a time. Now you can get the Sapphire Reserve for Business and the consumer Sapphire Reserve or Preferred. It's not for everyone, but a case could be made to pair the Sapphire Reserve for Business with the consumer Sapphire Reserve. Paying the annual fee for both means a big bill. But if you can utilize the over $2,000 in credits offered on each card, it could make sense. While keeping your business and personal expenses separate is a good idea, you're not only allowed to combine points from the Sapphire Reserve for Business with the Sapphire Preferred or Reserve, but this can be a powerful way to maximize your rewards. Spend strategically, redeem wisely and let your points go to work for you.
USA Today
4 days ago
- Business
- USA Today
Would you pay $795 a year for a credit card? Chase thinks this popular card is worth it.
Would you pay $795 a year for a credit card? Chase thinks this popular card is worth it. Show Caption Hide Caption What to do if you lose your credit card while traveling Your smartphone can help if your credit card is lost or stolen. Problem Solved The Chase Sapphire Reserve annual fee will increase to $795 with new perks. New perks include expanded point earning opportunities and statement credits. The new fee applies to existing cardholders starting October 26th and new applicants starting June 23rd. The Chase Sapphire Reserve Visa, a long-time favorite of points and miles hobbyists and luxury travel aspirants, is getting an overhaul and a hefty new annual fee. Chase announced Tuesday that Sapphire Reserve cardholders will soon pay $795 a year for the privilege of using that high-end metal card. While the new fee is softened by a host of updated perks, many points and miles experts are wary that the credit card game is losing its luster. "Honestly, this is kind of a breaking point for me, but also I could see it for a lot of people. I don't see why anyone would really splurge for this card when the Sapphire Preferred exists,' Stella Shon, a senior editor at Upgraded Points, a points, miles and travel website, told USA TODAY. 'Do you really care that much about lounges? Do you really need to get to the airport hours early to get a free meal?' Cruising Altitude: Do you love airport lounges? Airlines are stepping it up for you. The Sapphire Preferred is a more budget-friendly Chase card. It has fewer perks and no lounge access, but an annual fee of just $95. The current fee on the Reserve card is $550 a year. Shon said that airport lounges remain one of the biggest value propositions offered by premium travel credit cards, but that benefit is getting diluted by higher fees and other harder-to-use perks. Among the new benefits are expanded opportunities to earn points through Chase partners and extra statement credits to help offset a portion of the higher costs. Shon also pointed out that the revamped Reserve card has sharp restrictions on how to earn and use some of its perks. For example, bonus points are only available in many spending categories on purchases made directly through Chase. According to Chase, the new fee and perks will go into effect for existing cardholders starting Oct. 26. If your membership renews before then, you'll pay the old rate for one more year. The updated fee will apply to all new applicants starting June 23. American Express, which produces the Platinum card, the Sapphire Reserve's main competitor, also announced it was planning updates of its own. The Platinum card currently comes with a $695 annual fee and a similar slate of benefits to what Chase previously offered. Amex hasn't announced details of its updates, including whether or not the fee would change. Zach Wichter is a travel reporter and writes the Cruising Altitude column for USA TODAY. He is based in New York and you can reach him at zwichter@
Fast Company
4 days ago
- Business
- Fast Company
Chase Sapphire Reserve card members will see a major fee increase: Here's when and what to expect
The chase is on among premium credit card issuers. JPMorgan Chase has announced some big changes to its high-end Chase Sapphire Reserve credit card, which include a hefty new annual fee of $795, up from $550. The Sapphire Reserve card, which is known for its slate of perks and benefits including travel credits and access to airport lounges, is also getting a counterpart in the Chase Sapphire Reserve for Business card. When the card was first introduced in 2016, the annual fee was $450, so it has increased by more than 75% since then. Interestingly, customers don't seem to mind: The amount paid in annual fees totaled $6.4 billion in 2022, more than double the $3 billion paid in 2015, according to a 2023 report from the Consumer Financial Protection Bureau (CFPB). When will the fee increase take effect? According to Chase, customers still have a few days to sign up for the card at the old rate. If you're already a Sapphire Preferred member, or if you sign up before Monday, June 23, you can expect the same benefits and fee through October 25 of this year. Though the fee is increasing significantly, there will be new card designs, and new credits and benefits that arrive along with the revamp. Specifically, for cardholders who spend at least $75,000 per year on their cards, there will be new perks, such as exclusive online shopping experiences, and status rewards at IHG Hotels, and Southwest Airlines. Points earnings rates and multipliers are also changing through a new Points Boost program. The new Business card will also have credits for services from ZipRecruiter, Google Workspace, and more. 'It's the culmination of five years of investment that we've made across Chase in completely uplifting and repositioning what we mean for premium travelers in the premium-card space,' Allison Beer, JPMorgan's head of card and connected commerce, told Bloomberg. 'This is about having the best-in-class travel assets and an end-to-end travel experience.' Premium card issuers up the stakes Chase's announcement comes shortly after American Express, one of its chief rivals in the credit card space, teased a forthcoming overhaul to its premium Platinum Card. Details are scarce, but those changes are expected by the end of the year. The Platinum Card currently has a $695 annual fee. In all, the board is set for Chase and Amex to duke it out with their premium offerings, which might provide some serious perks to customers who can afford them. 'We're going to take these cards to a new level,' Amex's said Howard Grosfield in a statement, 'not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel, to meet the evolving needs of our customers.'
Yahoo
15-05-2025
- Business
- Yahoo
Last call: Get 100,000 points with a new Chase Sapphire Preferred Card welcome offer
The Chase Sapphire Preferred® Card's 100,000-point welcome bonus is coming to an end: The limited-time offer will expire at 9 a.m. EST on May 15, 2025. The current 100k offer is one of the Sapphire Preferred card's best-ever welcome bonuses. After you apply, you will need to spend $5,000 on your new card within the first three months of account opening to earn it. In exchange, you can unlock as much as $1,250 toward future travel. The Chase Sapphire Preferred is one of our favorite travel credit cards, and it's even more valuable with this welcome offer. If you've been considering a new rewards card for an upcoming vacation, now is a great time to compare how your spending and travel habits match up with the Sapphire the past few weeks, we've analyzed all the details you need to know about the Chase Sapphire Preferred's 100k bonus offer. Below, find our tips for deciding if this offer is right for you and making sure you qualify. And, of course, how to maximize your bonus points for the greatest redemption value. 100,000-point welcome bonus for new Chase Sapphire Preferred cardmembers How to use the Chase Sapphire Preferred 100,000-point bonus Who is eligible for the Chase Sapphire Preferred 100,000-point bonus? Learn more about the long-term value of your new Chase Sapphire Preferred Card: Is the Chase Sapphire Preferred Card worth it? The best benefits of the Chase Sapphire Preferred Card Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to the Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank's website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
