Chase has officially confirmed sweeping changes to its flagship premium travel credit card, the Chase Sapphire Reserve, and is simultaneously launching a completely new product, the Chase Sapphire Reserve for Business. These updates, confirmed on June 17, 2025, represent a major overhaul designed to set "a new standard in premium credit cards". The consumer card's new details are already live on Chase's website, with both cards becoming available for new applications starting June 23, 2025.

A Significant Increase in Annual Fees

Key Changes:

  • New Annual Fee: $795 (up from $550)
  • Increase: $245 (45% increase)
  • Authorized User Fee: $195 (up from $75)
  • Business Card: Employee cards at no additional cost

Both the revamped consumer Chase Sapphire Reserve and the new Chase Sapphire Reserve for Business will now carry a hefty $795 annual fee. For the consumer card, this is a substantial $245 increase from its previous $550 annual fee, positioning it as one of the most expensive credit cards on the market, even $100 more than The Platinum Card from American Express.

Existing Chase Sapphire Reserve cardholders will be charged the lower $550 annual fee if their renewal takes place by October 25, 2025. However, renewals on or after October 26, 2025, will incur the new $795 annual fee. Additionally, the annual fee for authorized users on the consumer card is increasing to $195, up from $75. In contrast, the Chase Sapphire Reserve for Business will offer employee cards at no additional cost.

Overhauled Rewards Earning Structures

The points earning rates for the Chase Sapphire Reserve have been significantly adjusted, especially for travel-related spending.

Revamped Chase Sapphire Reserve (Consumer Version)

New Earning Structure:

  • Chase Travel: 8X points on all travel booked through Chase Travel
  • Direct Bookings: 4X points on flights and hotels booked directly
  • Other Travel: 1X point on cruise lines, travel agencies, and incidental travel
  • Dining: 10X points on Chase Dining, 3X points on other dining
  • Peloton: 10X points on eligible equipment and accessories
  • Other Purchases: 1X point per dollar

New Chase Sapphire Reserve for Business

Business-Specific Rewards:

  • Chase Travel: 8X points on all travel
  • Direct Bookings: 4X points on flights and hotels
  • Advertising: 3X points on social media and search engine advertising
  • Other Travel: 1X point on rental cars, gas, taxis, and public transportation

The Evolving "Points Boost" Redemption System

A pivotal change in how Ultimate Rewards points are valued for travel redemptions is the introduction of "Points Boost". This new program replaces the straightforward fixed redemption values in the Chase Travel portal.

Points Boost Details:

  • New Redemption Values: Up to 2 cents per point on rotating offers
  • Guaranteed 2X: All hotels in The Edit by Chase Travel portfolio
  • Eligible Airlines: United, Air Canada, Southwest, Emirates, Qantas, Singapore Airlines
  • Class Restrictions: Economy, premium economy, business, and first-class eligible (basic economy excluded)
  • Other Redemptions: 1:1 rate (1 cent per point) for non-Points Boost travel

Transition Period for Existing Cardholders

Important Timeline:

  • Until October 26, 2027: Points earned before October 26, 2025, can still be redeemed at 1.5 cents per point
  • Automatic Best Rate: Chase will apply the better of Points Boost or 1.5 cents per point
  • After October 26, 2027: Points Boost becomes the only redemption option
  • New Points: Points earned from October 26, 2025, onwards only eligible for Points Boost

Extensive New Credits and Benefits (Consumer Chase Sapphire Reserve)

The revamped Chase Sapphire Reserve is introducing numerous new statement credits and benefits, with Chase claiming over $2,700 in annual cardmember value. It also retains several existing popular perks.

Continuing Benefits

Retained Perks:

  • Travel Credit: $300 annual travel credit (most flexible)
  • TSA PreCheck/Global Entry: $120 credit every four years
  • DoorDash: $300 annually in monthly promotions + complimentary DashPass ($120 value)
  • Lyft: $120 annual in-app credits ($10 monthly) + 5X total points on rides
  • Travel Protections: Primary car rental insurance, trip cancellation coverage
  • Lounge Access: Chase Sapphire Lounge by The Club + Priority Pass Select

New Travel & Dining Credits

Enhanced Benefits:

  • The Edit Credit: $500 annually ($250 per half-year) for high-end hotel portal
  • Exclusive Tables: $300 annually ($150 per half-year) at participating restaurants

Entertainment & Lifestyle Credits

New Lifestyle Benefits:

  • StubHub: $300 annually ($150 twice per year)
  • Apple Services: $250 toward Apple TV+ and Apple Music
  • Peloton: $120 annually ($10 monthly) toward memberships
  • Hotel Status: Complimentary IHG One Rewards Platinum Elite through December 31, 2027

Premium Benefits with Spend

After $75,000 Annual Spend:

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

Introducing Chase Sapphire Reserve for Business

The Chase Sapphire Reserve for Business is positioned as Chase's first premium travel-focused credit card for businesses, promising over $2,500 in annual value.

Core Travel Benefits

Business Travel Perks:

  • Travel Credit: $300 annual travel credit
  • TSA PreCheck/Global Entry: $120 credit every four years
  • Lounge Access: Chase Sapphire Lounge (2 guests) + Priority Pass Select (1,300+ locations)
  • The Edit Credit: $500 annual credit

Business-Specific Credits

Tailored Business Benefits:

  • ZipRecruiter: $400 annual credit for hiring
  • Google Workspace: $200 credit toward AI tools for business
  • Employee Appreciation: $100 Giftcards.com credit

Lifestyle Benefits

Employee Perks:

  • DoorDash: $300 annually in monthly promos + complimentary DashPass
  • Lyft: $120 annual in-app credits ($10 monthly)

Premium Business Benefits with Spend

After $120,000 Annual Spend:

  • IHG One Rewards Diamond Elite Status
  • Southwest Airlines A-List Status
  • $500 Southwest Airlines credit (Chase Travel bookings)
  • $500 credit to The Shops at Chase

Flexible Spending Options

Business Flexibility:

  • High Spending Limit: Pay-in-full limit for large purchases
  • Flex for Business: Credit line allowing payments over time with interest
  • Employee Cards: No additional cost for employee cards

The Implications of These Major Changes

The significant increase in annual fees, combined with the complex changes to points earning and redemption, signals a fundamental shift in the value proposition of the Chase Sapphire Reserve cards. The $795 annual fee represents a 45% increase from the prior $550 fee, making it challenging to justify unless a cardholder diligently utilizes a significant portion of the new benefits.

Value Proposition Analysis:

  • Potential Value: Over $2,700 (consumer) and $2,500 (business) annually
  • Coupon Book Approach: Value delivered through specific statement credits
  • Active Management Required: Cardholders must track and use specific benefits
  • Points Boost Complexity: Potential for higher redemptions but introduces ambiguity

Points Boost Impact

The "Points Boost" feature, while offering the potential for higher redemption rates (up to 2 cents per point) on select bookings, introduces ambiguity and a potential devaluation for other travel redemptions, which will now only yield 1 cent per point if not eligible for Points Boost. This removes the previous consistent and easily understood 1.5 cents per point redemption value that was a key attraction for many cardholders.

Business Card Competition

For businesses, the new Sapphire Reserve for Business clearly aims to compete with cards like The Business Platinum Card from American Express. While it boasts superior rewards rates on flights, hotels, and advertising spend compared to AmEx Business Platinum, its overall value largely depends on a business's ability to maximize the specific statement credits provided.

Business Alternatives to Consider:

  • Capital One Venture X Business: $395 annual fee with simpler rewards structure
  • Chase Ink Business Preferred: $95 annual fee with straightforward rewards
  • AmEx Business Platinum: $695 annual fee with different benefit mix

Card Design Updates

Both new card designs feature engraved logos and textured patterns on a heavier metal veneer, with the consumer card inspired by a Sapphire gem and the business card by pinstripe patterns, reflecting their respective target audiences.

Final Thoughts

These comprehensive changes present a significant trade-off: higher potential value through specific boosted redemptions and numerous statement credits, but at the cost of a substantially increased annual fee and reduced flexibility in general point redemptions. Existing cardholders will need to carefully evaluate their spending habits and travel patterns to determine if the revamped card continues to provide sufficient value after the transition period.

The new Chase Sapphire Reserve for Business fills a gap in Chase's portfolio and provides a compelling option for businesses that can maximize the specific credits offered. However, the high annual fee may be difficult to justify for many businesses unless they can actively utilize a significant portion of the coupon-style benefits.

Financial experts suggest that for most cardholders, the high annual fee may be challenging to justify unless they can diligently track and use the specific statement credits provided. The transition from a straightforward 1.5 cents per point redemption to the more complex Points Boost system represents a fundamental shift that may make the card a "less stellar travel option for many people" than it previously was.

Join Cardly+ Waitlist