Chase Sapphire Reserve® Overhaul: $795 Fee Starts June 23, 2025

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The Chase Sapphire Reserve® is about to undergo one of its biggest updates since its launch, and it comes with a significant annual fee increase.

Effective June 23, 2025, the card’s annual fee will rise from $550 to $795, making it one of the most expensive personal credit cards on the market. But that increase also comes with a serious overhaul of benefits, rewards, and travel perks.

On the same date, Chase will also introduce a brand-new small business product: the Sapphire Reserve for Business℠, offering premium travel rewards and credits tailored for entrepreneurs.

Here’s a full breakdown of what’s changing and what it means for cardholders.

Chase Sapphire Reserve®: New Annual Fee and Benefits Overview

• New Annual Fee: $795 (up from $550)
• Authorized User Fee: $195 (up from $75)

While the fee increase puts the Chase Sapphire Reserve® well above many competitors, including The Platinum Card® from American Express, it brings an expanded suite of premium benefits designed for frequent travelers.

Updated Rewards Structure

Starting June 23, the Chase Sapphire Reserve® will offer:

• 8x points on purchases made through Chase Travel℠
• 4x points on flights and hotels booked directly through airlines or hotel websites

These updates replace the previous structure, which offered up to 10x points on certain Chase Travel℠ categories and 3x on general travel.

New Credits and Lifestyle Perks

The card will now include over $1,200 in potential annual value through various credits and travel enhancements:

• $300 Dining Credit: Earn up to $150 from January through June and another $150 from July through December when dining with Sapphire Reserve Exclusive Tables.
• $500 The Edit Credit: Annual credit toward prepaid hotel bookings made through The Edit, Chase’s curated hotel collection. Two-night minimum.
• $300 StubHub Credit: Earn up to $300 per year ($150 every six months) on concert and event tickets purchased through StubHub or viagogo (activation required).
• Peloton Benefits:
  • 10x points on eligible Peloton purchases (up to 50,000 points annually)
  • Up to $120 per year in credits toward Peloton memberships
• Free Apple TV+ and Apple Music subscriptions through June 22, 2027
• Points Boost: Get up to 2x redemption value on select hotel and flight bookings made through Chase Travel℠
• Reserve Travel Designers: Personalized itinerary planning from Chase’s luxury travel team
• IHG One Rewards Platinum Elite Status, valid through December 21, 2027

Extra Elite Perks for High Spenders

Cardholders who spend $75,000 in a calendar year will unlock these additional benefits:

• IHG One Rewards Diamond Elite Status
• $500 Southwest Airlines credit (booked through Chase Travel℠)
• Southwest A-List status
• $250 statement credit at The Shops at Chase

Sapphire Reserve for Business℠: A New Option for Entrepreneurs

Launching alongside the consumer version refresh, the Sapphire Reserve for Business℠ offers a premium rewards experience for small business owners.

Annual Fee: $795

Key Business Rewards and Perks:

• 8x points on Chase Travel℠ purchases
• 4x points on direct flights and hotel bookings
• 3x points on advertising via social media and search engines
• Up to $300 annual travel credit
• Up to $500 The Edit credit for hotel bookings
• Up to $120 Global Entry, TSA PreCheck, or NEXUS credit (every four years)
• Up to $400 ZipRecruiter credit
• Up to $200 Google Workspace credit
• Up to $100 Giftcards.com credit
• Up to $300 in DoorDash promos annually + complimentary DashPass
• Up to $120 in Lyft credits per year + 5x points on eligible Lyft rides
• Points Boost for higher redemptions
• Complimentary IHG One Rewards Platinum Elite Status
• Access to Chase Sapphire Lounge by The Club and Priority Pass Select lounges

Business Elite Tier (Spend $120,000/year)

• IHG One Rewards Diamond Elite Status
• Southwest Airlines A-List Status
• $500 Southwest Airlines travel credit
• $500 statement credit at The Shops at Chase

Is the New Chase Sapphire Reserve® Still Worth It?

Whether the new $795 fee is worth it depends on how much you travel and how often you’ll use the upgraded perks.

If you frequently book through Chase Travel℠, dine at premium restaurants, attend live events, or rely on travel loyalty programs, these benefits can easily offset the higher annual fee. The value grows even further for those who spend enough to unlock elite travel status and exclusive credits.

However, for light travelers or those who don’t leverage the card’s full ecosystem, the price jump may be hard to justify, especially with the authorized user fee more than doubling.

Final Thoughts

The upcoming refresh to the Chase Sapphire Reserve® signals a clear push into the ultra-premium space. With expanded travel credits, new lifestyle perks, and upgraded earning potential, it offers strong value for the right user, but only if you actively use what’s included.

Meanwhile, the new Sapphire Reserve for Business℠ introduces a compelling option for business owners looking to maximize rewards across travel, advertising, and operations.

Consider how these changes align with your lifestyle and whether the new benefits make sense for your wallet.