Proposed updates to the Chase Sapphire Reserve card

Rumors Surrounding Potential Changes to Chase Sapphire Reserve Card

There have been whispers for weeks about possible alterations to the Consumer Chase Sapphire Reserve Card. These include hikes in fees, adjustments to profit margins, and shifts in benefits, among others.

Some of these speculations have been confirmed to varying degrees. Here’s what’s anticipated based on the latest insights.

Annual fees: Expected to rise from $550 to $795.

Revenue Categories:

8x points for bookings made through Chase (currently 10x with hotels and cars, 5x with flights).
4x points on flights and hotels booked directly (up from 3x on all trips).
3x for dining (remains the same).
1x for all other purchases (unchanged).

Additional benefits:

$25 per month in DoorDash credits.
$120 annual credit for DoorDash DashPass.
$10 monthly Lyft credit.
Monthly Peloton credits.
$250 editorial credit (similar to Amex’s Fine Hotels & Resorts) totaling $500 a year.
Two dining credits worth $150 each (totaling $300 a year) through the Sapphire Reserve Table.
$150 in StubHub credits annually.
$250 in Apple TV+ and Apple Music credits.

Annual spending of $75,000 rewards:

$500 Southwest credit.
Southwest A-list status.
IHG Diamond status.
$250 Shop credit.

A Mixed Bag of Opinions

If these changes indeed come to pass, I’m feeling a bit torn about them. It’s certainly a hit to see the annual fee jump to $795. On the other hand, if you can leverage the new benefits, they might help justify the cost. For instance, if you use DoorDash regularly, that monthly $25 credit could be pretty useful. Then there’s the StubHub credit, which seems reasonable for anyone who enjoys events like concerts or sports.

People who use Lyft might appreciate those credits, too. And if you already subscribe to services like Apple TV+ or Apple Music, those credits could feel like cash-in-hand. There’s also the potential for earning substantial rewards through travel bookings, which some might find appealing.

However, it could be quite challenging to extract $795 worth of value without that $300 travel credit. If that goes away, I wonder how many cardholders will find it tough to justify keeping the card. Maybe the first year won’t be too bad with an enticing welcome offer, but I’m curious about renewal rates in year two, especially after that fee increase hits.

Chase has set things up to earn more on certain travel bookings, but it’s disappointing that the broader travel category seems to be changing. The Sapphire Reserve was once regarded as an all-in-one travel card, and I worry that moving away from that could deter some users.

When it comes to the perks for spending $75,000 annually, the $500 Southwest credit and other statuses are actually quite beneficial. But I wonder how appealing it is to spend that much on a card that doesn’t necessarily offer significant alignment with most purchases.

For now, all these potential changes remain rumors, so nothing is certain. That said, the visibility of new revenue categories on Chase’s website suggests that at least some adjustments may be forthcoming.