If you are a JP Morgan Chase customer holding the Sapphire Reserve card, you might want to brace yourself. The annual fee is jumping to $795—a 45% increase from the previous $550.
That makes this the biggest fee hike since the card launched in 2016.
You may be asking, Why the sudden increase? According to Chase, the goal is to add more value. The bank claims the updated version of the card will offer over $2,700 in benefits every year, but only if you take full advantage of what is being offered.
What are the new Sapphire Reserve benefits?
Chase is betting that the added perks will make the higher fee feel worth it—at least for some cardholders. The bank is rolling out several new benefits, including:
- $500 annual hotel credit at Chase’s luxury hotel and resort collection
- $300 credit for dining at restaurants in the Sapphire Reserve Exclusive Tables network
- $300 credit for purchases at StubHub or Viagogo
- Free Apple TV+ and Apple Music subscriptions, worth up to $250 per year
- A new redemption program that doubles the value of points used for select travel deals
These perks are in addition to the card’s existing benefits, like travel insurance, airport lounge access, and 3x points on travel and dining.
Who will benefit the most from the new perks?
If you spend a lot on travel, dining, or entertainment, the new perks might make sense. Especially if you are already using StubHub, Viagogo, or frequent high-end hotels. But keep in mind, the card is now shifting toward a more luxury-focused model.
Here is what frequent high-spenders can get:
- Top-tier status with Southwest Airlines and IHG Hotels if you spend $75,000 or more annually
- Exclusive dining experiences and more tailored travel options
For those who travel often or use premium services regularly, this may still be a good deal. But if you are someone who barely touches these perks, the card could feel like more of a burden than a benefit.
What if you cannot justify the new $795 fee?
Many Americans are now asking themselves, Is this card still worth it?
Ted Rossman, a senior analyst at Bankrate, said,
“When the Sapphire Reserve first came out, it was a solid middle-class play that offered champagne travel on a beer budget. These premium cards are going more luxury, and I wonder if the $800 fees are becoming too much for some to stomach.”
If the math does not work for you, it might be time to:
- Downgrade to the Sapphire Preferred card, which has a lower annual fee
- Switch to a different credit card with similar rewards but fewer frills
- Re-evaluate your spending habits to see if the new benefits match how you use the card
Are there new options for business owners?
Yes. Chase has also rolled out a Sapphire Reserve Business card, which comes with the same $795 fee and similar perks. This new version is aimed at business owners and includes added credits for services like ZipRecruiter and Google Workspace.
This puts Chase in direct competition with American Express, which has long offered premium business cards through its Platinum line.
Should you still keep the card?
That really depends on how much you travel, dine out, or use premium services. If you do not plan to make full use of the perks, the higher fee might not be worth it. But if you can take advantage of most of the benefits, it could still offer real value.
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