The Chase Sapphire Reserve was launched in 2016, and has become one of the most popular premium credit cards on the market. We recently found out that the card would be undergoing major changes, and we now have all the details (separately, I’ve covered the launch of the new Chase Sapphire Reserve for Business).
The annual fee is increasing considerably, and we’re also seeing updates to the benefits, including the introduction of lots of new perks. Some will like the changes, while others won’t. For those who are willing to maximize value, I think these updates could prove to be positive. Meanwhile for those who have credit card fatigue in terms of keeping track of benefits, well, there’s definitely a learning curve here…
In this post:
Details of the Chase Sapphire Reserve Card changes
The Chase Sapphire Reserve will be undergoing major changes. For new cardmembers, these kick in for applications as of June 23, 2025. For existing cardmembers, the new annual fee and new perks kick in as of October 26, 2025, with the exception of the Points Boost benefit, which kicks in as of June 23. Let’s cover all the changes, in no particular order.
Annual fee increasing from $550 to $795
The Chase Sapphire Reserve’s annual fee will be increasing from $550 to $795 per year. Obviously that’s a significant increase, especially when you consider that the card’s annual fee was $450 at launch. At the same time, we’ve seen quite a bit of credit card annual fee inflation in recent years, so this is hardly surprising, especially with all the new benefits being added.
Authorized user fee increasing from $75 to $195
The Chase Sapphire Reserve’s authorized user fee will be increasing from $75 per person to $195 per person. I’d argue that this is the roughest change we’re seeing with these updates, since being able to add authorized users for $75 was a great value.
I suspect Chase justifies this based on the continued investment in Chase Sapphire Lounges, plus wanting to minimize crowding in those facilities.
3x points being replaced by 3-8x points
Up until now, the Chase Sapphire Reserve rewards structure has been as follows:
- 10x points on hotels and rental cars booked through Chase Travel
- 5x points on Lyft purchases through September 30, 2027
- 3x points on dining
- 3x points on travel
- 1x points on all other purchases
With these changes, the card’s rewards structure will be changing, as follows:
- 8x points on all purchases through Chase Travel
- 5x points on Lyft purchases through September 30, 2027
- 4x points on flights and hotels booked directly
- 3x points on dining
- 1x points on all other purchases
As you can see, this means the card will no longer offer 3x points on all travel purchases, negatively impacting things like parking, trains, etc. Instead, it will offer more points for direct purchases of flights and hotels. When it comes to Chase Travel purchases, hotels and rental cars go from earning 10x points to earning 8x points, while flights start earning 8x points.
New credits for dining, travel, and more
The Chase Sapphire Reserve will be getting a bunch of new credits, beyond the ones that are currently offered. This should help many people justify the higher annual fee. The new credits include the following, in addition to the existing ones:
- The card will offer up to $500 per year in hotel credits for The Edit by Chase Travel, in the form of a $250 credit semi-annually; this applies to hotel bookings that are a minimum of two nights
- The card will offer up to $300 per year in statement credits for Chase Sapphire Reserve Exclusive Tables, in the form of a $150 credit semi-annually; this is for restaurants bookable through OpenTable, as part of The Infatuation & Visa Dining Collection platform
- The card will offer up to $300 in DoorDash credits per year, in the form of up to $25 in monthly credits (a $5 monthly promo credit to spend on restaurant orders, and two $10 promo credits for groceries, retail, and more), along with one year of DashPass
- The card will offer up to $300 in Stubhub and viagogo credits per year, in the form of a $150 credit semi-annually; this is for the purchase of concert and event tickets
- The card will offer a complimentary subscription to Apple TV+ and Apple Music through June 22, 2027, a $250 annual value
Additional benefits for spending $75,000 annually
The Chase Sapphire Reserve will offer new benefits for those who spend at least $75,000 per year on the card. Specifically, the card will offer the following:
- IHG One Rewards Diamond status, which is IHG’s top tier status, offering perks like complimentary breakfast, room upgrades, and more
- Southwest Rapid Rewards A-List status, offering perks ranging from priority seating to free checked bags
- A $500 Southwest credit, for flights booked via Chase Travel
- A $250 Shops at Chase credit, valid for purchases with select brands, including Baccarat, Bang & Olufsen, Breitling, Tumi, and more
1.5 cent redemptions replaced by Points Boost
Personally, my preference is to redeem Ultimate Rewards points by transferring them to Chase’s airline and hotel partners, as that allows me to get the most outsized value. However, one advantage of the card has been that it’s possible to redeem points for 1.5 cents each toward the cost of a travel purchase through Chase Travel.
With these changes, that will be dropped down to one cent per point, so that’s a pretty significant devaluation. For what it’s worth, the Chase Sapphire Preferred has offered redemptions for 1.25 cents per point, so that’s being lowered to one cent as well.
Now, there is some good news. This benefit is being replaced by Points Boost, whereby you can redeem points at up to 2x the typical value on select hotel and airfare redemptions (meaning you can get up to two cents of value per point):
- The Edit by Chase Travel offers extra perks at luxury hotels, and you’ll always be able to redeem points for 2x the typical rate through there
- Select airfare will be bookable with points getting at 1.25-2x the usual rate, though options will vary based on class of service, airline, etc.
Other card benefits remain unchanged
The above covers the changes to the card, though let me note that other perks aren’t changing. Most significantly, the card’s (very) easy to use $300 annual travel credit continues to be a perk. The same is true of the TSA PreCheck and Global Entry credit, etc.
Furthermore, the card’s lounge access perks aren’t changing, so the card will continue to offer a Priority Pass membership, access to Chase Sapphire Lounges, access to select Air Canada Maple Leaf Lounges, etc.
My take on Chase Sapphire Reserve Card changes
I’m not surprised to see Chase make these changes. We’ve had reason to believe that there’s a general profitability issue with the card, which probably reflects evolving consumer behavior. A large percentage of spending is in categories eligible for bonus points, and people probably aren’t financing charges as much as issuers would like.
At the same time, there has been a premium credit card arms race of sorts, and card issuers feel like they need these cards to compete. Now, to state the obvious, many people won’t like that the annual fee is increasing by $245, and that 3x points is being dropped on some travel purchases.
That being said, personally I still find this card to be worthwhile. Actually, I’ll likely get more value from the card than before:
- Being able to earn 8x points for flights booked through Chase Travel might change how I book many of my flights, as that’s a really compelling return
- I also appreciate the ability to earn 4x points on hotel purchases, since that’s an industry leading return on that spending
- Given how easy the $300 annual travel credit is to use, I tend to consider this to be more of a $495 annual fee card after the changes ($795, minus the $300 credit)
- I’ll largely come out ahead compared to the $245 annual fee increase; for example, the up to $300 in dining credits will be easy for me to maximize, since there are lots of great Miami restaurants participating in the program
- I know some people will be bummed to see the 1.5 cent per point redemption option discontinued, though personally, that’s not how I’ve typically redeemed my points
- The “coupon” aspect of some of these perks is quite frustrating, like with DoorDash, where the $25 in monthly credits is made up of three separate credits, which can’t be used together
Ultimately the pattern here is the same with card issuers. Cards are largely becoming more lucrative, but there are more hoops that need to jump through to maximize value. If you’re willing to put in the effort, these changes may very well be positive. The question is just how much time people want to spend trying to maximize every last perk.
It’s also worth acknowledging that these perks largely favor those living in major cities, where many of the benefits are easier to use.
Strategy considerations for existing cardmembers
If you’re an existing Chase Sapphire Reserve cardmember, what’s the right approach to take here? Obviously everyone has to decide for themselves whether the refreshed version of the card is worth the annual fee. Personally, I think there’s no reason to take any action right now.
For existing cardmembers, the new annual fee only kicks in on the next account renewal date after October 26, 2025. That means that some people won’t be paying the new annual fee until some point in October 2026.
The benefits stay the same for now, and even come October, it could make sense to hold onto the card until the renewal date hits. Of course this assumes that you don’t like the changes. But either way, there’s no benefit to doing anything now.
If you do decide that the Chase Sapphire Reserve is no longer right for you, it could be worth downgrading to the Chase Sapphire Preferred, which has a much lower annual fee, and it’ll still allow you to keep all your points.
Bottom line
The Chase Sapphire Reserve is undergoing major changes, which kick in as of June 23 for new cardmembers, and as of October 26 for existing cardmembers. The bad news is that the annual fee will be increasing, both for the primary cardmember and authorized users. Furthermore, 1.5 cent per point redemptions for travel are being dropped.
However, there’s also lots of good news. We’re seeing a bunch of new credits added to the card, which will make it much easier to justify. We’re also seeing significant perks added as an incentive for spending $75,000 per year on the card.
Whether these changes are positive or negative depends entirely on your spending patterns, and how many hoops you’re willing to jump through in order to maximize value.
What do you make of these Chase Sapphire Reserve changes?
I use the 1.5 cent redemptions too so big loss for me. Do not live in a major city so these coupons are mainly worthless. Will be burning through Chase points until October then move spend to Amex Gold/Green. Way better value there
I have nothing against Ben, but let’s be real. His job, as has been mentioned, is to pimp these cards.
For those interested in an uncomplicated cashback card, might I recommend the Navy Federal Credit Union Flagship card? You do, however, need to be military or have family that is (their interpretation of family is pretty liberal).
-$49/yr
- sign-up bonus
- 3x points (1 cent per point) on all travel, which includes...
I have nothing against Ben, but let’s be real. His job, as has been mentioned, is to pimp these cards.
For those interested in an uncomplicated cashback card, might I recommend the Navy Federal Credit Union Flagship card? You do, however, need to be military or have family that is (their interpretation of family is pretty liberal).
-$49/yr
- sign-up bonus
- 3x points (1 cent per point) on all travel, which includes car rentals, timeshares, campgrounds, RV parks, ride-sharing services, parking, bridges, tolls, ferries, entertainment, museums, amusement parks, public golf courses, among others
- 2x on everything else
- U.S. based support
- free Amazon Prime
- cell phone protection
- $120 for Global Entry or TSA Pre-Check
- other perks included
Yeah, that's a no for me. The CSR felt like a luxury card for everyday consumers. Now it feels like it's targeting the elite 1% and with how expensive everything is nowadays, I'm traveling and eating out less. Let alone trying to stay or eat at expensive places. Probably gonna finish off my year than downgrade to the Preferred. Unless they start making changes over there too... Almost ready to just cut the cord and...
Yeah, that's a no for me. The CSR felt like a luxury card for everyday consumers. Now it feels like it's targeting the elite 1% and with how expensive everything is nowadays, I'm traveling and eating out less. Let alone trying to stay or eat at expensive places. Probably gonna finish off my year than downgrade to the Preferred. Unless they start making changes over there too... Almost ready to just cut the cord and go straight debit card for a while. All these coupon strategies are a real turn off.
Do the changes apply to the JP Morgan Reserve?
This sucks. May be able to still justify but will be mich bigger pain in the ass with these ridiculous credits - the monthly ones are super irritating and the $500 hotel credit to Edit hotels is likely limited to no value (as have to book 2 night stay to a selected group of hotels which are generally very expensive and won't be the lowest rate anyway). And the loss of 1.5x redemption kicker may...
This sucks. May be able to still justify but will be mich bigger pain in the ass with these ridiculous credits - the monthly ones are super irritating and the $500 hotel credit to Edit hotels is likely limited to no value (as have to book 2 night stay to a selected group of hotels which are generally very expensive and won't be the lowest rate anyway). And the loss of 1.5x redemption kicker may be the final straw - depends on how difficult will be to get any points bonus. Can only see these changes on having a negative effect for JPM
Yeah canceled mine this morning. Venture X is my go to now.
“Ain’t nobody got time for this sh/t!* Really, who has time to jump through all these hoops to receive value in the card? Perhaps retired folks? Each transaction requires tracking down this or that to extract value. The previous version was simple, go travel and the card would work for you.
This will probably result in a downgrade to the Preferred Card for me. Most of the changes do not benefit me at all. I do use the current DoorDash $5 credit for food, but I have no interest in deliveries of groceries or retail, especially if the prices are higher, as they are for Uber Eats. I rarely use Uber or Lyft except overseas with Uber and I understand that Lyft is not present in...
This will probably result in a downgrade to the Preferred Card for me. Most of the changes do not benefit me at all. I do use the current DoorDash $5 credit for food, but I have no interest in deliveries of groceries or retail, especially if the prices are higher, as they are for Uber Eats. I rarely use Uber or Lyft except overseas with Uber and I understand that Lyft is not present in Europe, so that benefit does nothing for me. "The Edit" hotels appear to be more of the curated, overpriced hotels that would cost me more to stay there than I would get from the credit in all likelihood. If it is anything like the similarly curated Amex hotels, this is a no-value change. I rarely dine out at places where I need an OpenTable reservation so that credit is of marginal usefulness.
Whether I keep the Reserve will come down to two things. First, can I use the StubHub credit? Maybe. I go to a lot of college football games, but I have season tickets for home games and I prefer to buy my road tickets through my school so I can sit with our fans. I usually try to go to one other college game aside from my school each year, so the credit might be useful there. Also, sometimes I need to buy bowl tickets aftermarket as opposed to my school. Plus, I occasionally go to other events where I might be able to use the credit.
Most likely, the big decider will be the 4x points on hotels. I get some use on "other travel" when I go to Europe and buy train tickets. The question is will I get more value out of an additional point on hotels than I lose from those train tickets. Fortunately, I closely track my actual realized value of points and perks so I will be able to get a good estimate before I have to decide next year whether or not to downgrade.
Ben, on another travel site. They said if you leave. Chase will not refund your unused credit unless you do so within 30 days of your last annual membership fee. I called Chase yesterday and they said they would prorate my fees if I left at any time. I don't know what the truth is.
So do existing cardholders get the Edit and dining credits on 23 June or at a later date?
From 3x to 1x on cruises is why I will downgrade. For me that’s a loss of 40k + points per year and no assurance I can use them at $0.015 for airfare.
Wow! I almost use the 1.5 redemption for travel all the time. Also an additional $195 for a card for my son and my wife is ridiculous. I will be finding a new card
"I also appreciate the ability to earn 4x points on hotel purchases, since that’s an industry leading return on that spending"
I'm thrilled I kept the Citi Prestige, with 10x points on hotels booked though them.
Do you get hotel loyalty benefits when booking through the Edit (like FHR)? Will likely be a determining factor for me
@ JustinB -- Yep, generally speaking!
For existing holders. Trains go from 3x to 1x on Oct26?
@ Ni -- That's correct.
Ouch, I'll probably be downgrading this card then. Sure if you add all the fees up its more than the AF, but I don't really see enough value here.
Ben, with the new perks coming into place for existing cardmembers in Oct 2025, do you know if these credits will be based on calendar year or cardmember year? For example lets say my new AF will be March 2026, for the Edit Hotel or...
Ouch, I'll probably be downgrading this card then. Sure if you add all the fees up its more than the AF, but I don't really see enough value here.
Ben, with the new perks coming into place for existing cardmembers in Oct 2025, do you know if these credits will be based on calendar year or cardmember year? For example lets say my new AF will be March 2026, for the Edit Hotel or dining credits, can I use these credits Oct-> Dec 2025, and again in 2026 JAN->Mar before the AF hits?
I'd assume Cardmember year but maybe double dip in this first year of changes.
@ JJ -- With the exception of the $300 travel credit (which is based on the cardmember year), all other credits are based on the calendar year, as I understand it. In your example, you should be able to use those credits as described, twice before your next annual fee is due.
Losing the 1.25 redemption option on the CSP as collateral is rough and makes the downgrade worse. Not the splashiest option but it was great to have that floor.
i find that in the chase travel portal, they consistantly show a limited amount of fares, at higher prices / fare buckets.
trying to book a BOD > CDG > FCO flight last week on air france.
only business class full fare shown @ $900. on kayak and google flights, $550 in business class light... Air France website was $625.
additionally, the portal is now almost not worth it at all, becase of...
i find that in the chase travel portal, they consistantly show a limited amount of fares, at higher prices / fare buckets.
trying to book a BOD > CDG > FCO flight last week on air france.
only business class full fare shown @ $900. on kayak and google flights, $550 in business class light... Air France website was $625.
additionally, the portal is now almost not worth it at all, becase of the dramas when trying to make itinerary changes and having to deal with chase as a 'travel agency' vs. being able to change directly through the airline.
re: the points boost... ben have you heard or can you guess what flights/fares this will apply to? totally randomized, business class, full fare, etc?
agree, inflated pricing generally
Ben - I have been a massive CSR fan for years. And for all those years I have detested dealing with Chase Travel’s inept, rigid script bound Philippines call center.
I would rather book air at 5x through Amex Platinum than 8x through Chase Travel. I am simply petrified of having to deal with that team if I have to change travel plans - which I often do
The loss of 3x for all...
Ben - I have been a massive CSR fan for years. And for all those years I have detested dealing with Chase Travel’s inept, rigid script bound Philippines call center.
I would rather book air at 5x through Amex Platinum than 8x through Chase Travel. I am simply petrified of having to deal with that team if I have to change travel plans - which I often do
The loss of 3x for all travel cuts deep, and just reading about all the idiotic coupon benefits made my eyes gloss over
So I can’t even believe I am saying this but I will probably jump ship. Are there any competing cards you would recommend that come close to the 3x bonus on travel?
Authorized user to $195 is the biggest hit to me as I have 2 colleague kids. So 3 authorized users = 120*3+245=605 increase. Plus 1:1.5 is gone. Seems like a time to drop the card
I'd love to see who Amex and Chase are polling and doing user studies with to determine that people want coupon clipping books. Absolutely ridiculous. Glad I've smashed Chase and Amex for over half a million points in sign up bonuses over the years.
$1,000 annual fee card coming before the year 2030. $3 per a day in Amazon credits.
My biggest fear here is the loss of the easy 3x points on travel. That said, I did the math, YMMV, but I guess it works out at the end of the day.
As an example, say I put ~20k of Travel on my CSR last year, split ~12k "hotels" and ~8k transit, so 20x3=60k points. Under the new regime it's 12x4=48 for hotels, but only 1x8 for everything else, so 48+8=56.
That said, car...
My biggest fear here is the loss of the easy 3x points on travel. That said, I did the math, YMMV, but I guess it works out at the end of the day.
As an example, say I put ~20k of Travel on my CSR last year, split ~12k "hotels" and ~8k transit, so 20x3=60k points. Under the new regime it's 12x4=48 for hotels, but only 1x8 for everything else, so 48+8=56.
That said, car service comes into play, especially in NYC. I'd say the 8k was somewhat evenly split between Ubers / regional transit (subway, railroad, etc.). So if I shifted 4k Uber to Lyft would be an extra 20k points (4x5) so would be 48+20=68 plus 1x4=4 on subways, etc. so total 72k points versus 60k points - and I'd come out 12k points ahead.
And if I open a Citi custom cash and can get 5x points on transit that way (up to $500/month), would be even better - 72k points with Chase and 20k points with Citi (4x5=20). So all in could be getting 92k UR/TY points versus 60k UR points.
So bottom line for me- if I choose to keep the CSR with the higher annual fee (coupon book changes are only so useful...), is a) shift spending from Uber to Lyft and b) shift all transit spending to a Citi custom cash card.
Are plane tickets more expensive on the Chase portal than by booking with the airline?
@ R B -- They generally shouldn't be, though at times, it might be tough to book complex itineraries there, and you might not have access to as big of a range of options as elsewhere.
Not mentioned is the additional $195 authorized user fee in addition to the $795 fee. That’s $1,000! Gotta think this one over. Not thrilled.
@ John L. -- For what it's worth, it *is* mentioned in the post, and even has its own heading. :-)
Ben,
Would love some commentary on the urban vs not urban market. These coupon book cards are mostly worthless for a lot of us non city folk.
Yep. I live in rural WA and I think this will be the straw that triggers a downgrade. I don't buy event tickets, there are no participating restaurants within 100 miles, etc.
Rural people move as far away from everyone else to live a "quiet life" and then complain online nonstop about everything.
Is the 4x on hotels and flights apply to bookings though other websites as well such as Expedia, aahotels, etc
@ Kartik -- Technically, 4x points only applies if booking directly with an airline or hotel, and not through an online travel agency. We'll see how that shakes out in practice, as some other card issuers have sometimes issued bonus points on travel bookings through OTAs, even if claiming it's only for direct bookings.
The 3x on travel was the only reason I was keeping the card. Will downgrade to CSP once that's no longer available.
Another commenter here pointed this out to me awhile ago, but is the no-fee Citi Custom Cash now the best deal for transit?
5x points up to $500 a month; Select Transit - Includes car rentals, ferries, commuter railways, subways, taxis/limousines/car services, passenger railways, bridge and road tolls, parking lots/garages, bus lines, and motor home and recreational vehicle rentals. Also includes merchants that sell electricity for charging an electric vehicle. Excludes bike/scooter rentals, auto clubs...
Another commenter here pointed this out to me awhile ago, but is the no-fee Citi Custom Cash now the best deal for transit?
5x points up to $500 a month; Select Transit - Includes car rentals, ferries, commuter railways, subways, taxis/limousines/car services, passenger railways, bridge and road tolls, parking lots/garages, bus lines, and motor home and recreational vehicle rentals. Also includes merchants that sell electricity for charging an electric vehicle. Excludes bike/scooter rentals, auto clubs and insurance companies.
This really increases the value of the strata premier by the way (still a terrible name). 3x for air/hotel direct and 10x through portal for a $95 fee that's covered by a $100 hotel credit. Or pay $795 (ok $495 after the $300 credit) for 4x air/hotel direct and worse 8x portal benefits. Really paying an extra $500 for lounge access ($700 with authorized user which is needed to get a family of 4-6 into the lounge).
Is that worth $700 a year when this is not the only card with lounge access most of us have? They are great lounges...
Also really makes the Venture X worthwhile to consider. Looking forward to seeing the new Landing at LGA TB and new T4 lounge also looks very nice. For $395 ($95 after $300 travel credit) plus $125 auth user (or get 2 cards if you'll use the $300 credit twice) that's ~$200 ($190 or $220, you pick) plus $25/kid (for me that's 2x). Feels like the better deal, although only portal booking for elevated points (5x air, 10x hotel).
When I look at the Sapphire Reserve Exclusive Tables, there seems to be quite a few cities (including Miami) that don't have any restaurants on the list yet. Do you know if the $300 yearly credit will only be for Sapphire Reserve Exclusive Tables or for any restaurants on the Infatuation & Visa Dining Collection platform (which, when I try to look at those restaurants I'm automatically directed to the Sapphire Reserve Exclusive Tables) screen.
Prediction: All cards with a Priority Pass benefit will become more expensive or coupon-ized.
I live in NYC and while I can get $300 from Stubhub, $300 from the restaurants and $300 from the other credit pretty easily, which covers the 795, this is still a big downgrade from what it was before, specifically the 1.5x and easy points redemption. It's still a bit more usable than Amex, but Chase is on thin ice
2nd question: Does the Apple Music/ Apple TV+ benefit also apply to Apple One (TV+/music/Arcade/iCloud+/Fitness/News+ bundled)?
@ gideyup11 -- Here's what the terms state:
"One-time activation required on chase.com or the Chase Mobile® app. You, as the primary cardmember, will receive one complimentary Apple Music individual subscription through June 22, 2027. If you have an active paid Apple Music individual subscription purchased directly through Apple, your complimentary Apple Music individual subscription through Chase will automatically suspend your existing subscription. If you cancel your complimentary Apple Music individual subscription through Chase,...
@ gideyup11 -- Here's what the terms state:
"One-time activation required on chase.com or the Chase Mobile® app. You, as the primary cardmember, will receive one complimentary Apple Music individual subscription through June 22, 2027. If you have an active paid Apple Music individual subscription purchased directly through Apple, your complimentary Apple Music individual subscription through Chase will automatically suspend your existing subscription. If you cancel your complimentary Apple Music individual subscription through Chase, your paid Apple Music individual subscription purchased directly through Apple will resume. If you have an active paid Apple Music Family or Apple One subscription purchased directly through Apple, your complimentary Apple Music individual subscription through Chase and your Apple Music Family or Apple One subscription through Apple will run at the same time unless you cancel your preexisting subscription. You may cancel your Chase complimentary Apple Music individual subscription at any time by calling the number on the back of your card. Use of Apple Music is subject to Apple Media Services Terms of Use and Apple Privacy Policy."
I guess we'll find out soon in practice how it actually works, but that's what the terms suggest.
The terms suggest it doesn't apply to Apple One, or at least that is how I'm reading it. :(
Currently for Hotels, it’s 10x via Chase Travel but only 5x for The Edit.
Does The Edit bump up from 5x to 8X or remain only 5x?
Capital One Travel is 10x for such higher end hotel bookings.
8X
@ Peter -- Yeah, it's 8x for the entire Chase Travel/The Edit ecosystem.
I thought I saw somewhere that The Edit reservations will now be 2x?
@ Steve Hall -- With Points Boost, you'll be able to redeem Ultimate Rewards points earned with the Sapphire Reserve for 2.0 cents each toward The Edit reservations. That's separate from the multipliers for spending, though.
I think this is pretty simple - unless you can book a lot of travel via the Chase portal, or you book a lot of independent hotels at 4x, these changes are a negative. In general, I find Chase’s “coupon book” partners to be weaker than Amex, and they are structured a bit worse as well. 4x on airfare/travel are good, as is 3x on dining, but you can get that elsewhere. Sucks that they...
I think this is pretty simple - unless you can book a lot of travel via the Chase portal, or you book a lot of independent hotels at 4x, these changes are a negative. In general, I find Chase’s “coupon book” partners to be weaker than Amex, and they are structured a bit worse as well. 4x on airfare/travel are good, as is 3x on dining, but you can get that elsewhere. Sucks that they gutted 1.5x redemptions, and 1.25x for Chase Sapphire Preferred. If you are a regular Chase Sapphire Lounge user, then Reserve makes more sense.
In terms of Chase - Freedom Unlimited, Freedom and Chase Sapphire Preferred is a much cheaper, and probably better option.
Pretty much my opinion too.
Little to no value in the coupon book for me, and I don't think that 8x points is enough to take the risks of booking air via 3rd party.
One thing I value is the insurance coverages. I'll have to go comparison shopping for cards with a better insurance/points/fee equation.
One thing that I hate about these credits is that they only apply to domestic usage but these are travel cards, why not apply the credits to international travels.
For existing CSR cardmembers, will the new earn structure (1X earn on non-airline/hotel travel) be effective 6/23/25 or 10/23/25? If it's 6/23/25, then I have some upcoming final payments for cruises/group trips I should pay this week although final payment isn't yet due.
@ gideyup11 -- It's my understanding that the new bonus categories only kick in as of late October for existing cardmembers.
Thanks Ben!
Thanks Ben!
Who killed the cook?
Sadly I'll have to cancel the card when the fee annual increase kicks in. I liked the card as it was, and used it all the time, but with these changes and the increased fee. Sorry that you forced me to leave, Chase.
I don't live in a major city, so this card is no longer worth it. Bummer since I've had the CSR for several years. How does downgrading to the CSP work? I don't want to lose my points. Could you do a post on that?
My local airport only has Delta, only flies to SLC. Maybe I'll look at those cards.
@ Liz -- Yep, I'll cover that in a separate post! You should be able to downgrade your card by calling Chase, and you would be able to keep your points. Just keep in mind that the new fee doesn't apply until your next renewal date after late October 2025, so you can potentially keep enjoying the card for some time, without paying a higher fee.
I think that Chase made a good decision to raise the annual fee rather than downgrade Lounge access as Capital One has done with the X. I consider as much lounge access options to be as important as the earnings for a travel card. So I'll happily pay the increase. What I'm not sure about is how many points do I earn if I book a flight direct with an airline because I'm unlikely to...
I think that Chase made a good decision to raise the annual fee rather than downgrade Lounge access as Capital One has done with the X. I consider as much lounge access options to be as important as the earnings for a travel card. So I'll happily pay the increase. What I'm not sure about is how many points do I earn if I book a flight direct with an airline because I'm unlikely to change that in case of IRROPS? The only major negative change I see is that they removed the simplicity of 3x for all travel like trains, taxis, etc. That was both easy to remember and helpful. Overall I give them credit for raising fees rather than cutting benefits.
I'm so tired of all cards going the route of 3 dozen different credits that all apply monthly for low dollar amounts, and each one with a specific company or vendor within an overall category. It just kills most of the value proposition.
So, I lose 3x on travel. I lose 1.5 redemptions, and the AF explodes, in exchange for a bunch of hoops I have to jump through. Adios CSR. After 8 years, this is not a close call. You're fired.
I agree completely. Now which card should I use for travel expenses ?
Do you expect upcoming changes to the CSP too?
@ Grogg -- Nothing has been announced, other than the reduction from 1.25 cents per point to 1.0 cents per point for Chase Travel redemptions. However, I wouldn't be surprised to eventually see some changes, given how annual fees have been inflated on other cards.
As someone who hates the coupon book cards, this further strengthens the Venture X as the most outstanding premium credit card. I have no use for most of these new Sapphire Reserve credits, and can’t justify paying that steep annual fee. The AMEX Platinum has the same issue.
I have definitely been loving my Venture X for this reason.
Agreed! Venture X rocks. And the simple travel credit/10,000 bonus pays for the card itself.
Are there indications that other cards will see their definition of travel changed--I'm mostly thinking the ink preferred here which still has the 3x bonus (conveniently most of my taxis and such are work expenses...). if that stays the same it takes out a bit of the negative punch on that end.
@ Adam -- I haven't heard of plans to change the definition of travel on any other Chase cards, so I think that should be safe for now (of course it's possible we see changes in the future).
You wrote “ for existing cardmembers, these kick in as of October 26, 2025”. Does this mean all the new benefits will only apply to existing card members after October, or do you only mean the new annual fee?
@ leol -- So the new fee kicks in as of October 26 for existing cardmembers. That's also when new perks kick in, except for Points Boost, which kicks in as of June 23 as well.
Thank you! Usually only the new annual fee kicks in at a later date. I’ll need a post from Ben in October to remind me the new benefits then!
Do authorized users get the Apple Music subscription as well or just the primary?
@ Jon -- The credits are once per overall account, so authorized users wouldn't get extra credits, as I understand it.
How do we see this impacting the using of Chase Freedom in conjunction with the reserve?
@ Andrew -- You should still be able to combine points, as before. The key difference is that you'll no longer get more than 1.0 cents of value through Chase Travel by combining points.
Makes sense, just curious if you still think that combo is of strong value or if I may want to adjust. Been a CSR member since it's initial release... also carry venture x, amex plat, so feeling like I may be looking to shed a card in the future given some of the duplicative benefits... the new Edit Benefit seems very similar to the $200 FHR on Amex. Thanks for keeping up on all this stuff and posting/replying!
@ Andrew -- It's a toughie, because all these cards have some overlap, but not that much. Personally, I think a good strategy could be to use the Sapphire Reserve for bonus categories, and to put everyday spending on the Venture X. Admittedly that's still a lot in annual fees, but if you're willing to maximize, it could work out quite favorably. I think the Amex Platinum is probably the harder one to justify, in...
@ Andrew -- It's a toughie, because all these cards have some overlap, but not that much. Personally, I think a good strategy could be to use the Sapphire Reserve for bonus categories, and to put everyday spending on the Venture X. Admittedly that's still a lot in annual fees, but if you're willing to maximize, it could work out quite favorably. I think the Amex Platinum is probably the harder one to justify, in terms of the actual return on spending not being very compelling, and it just being primarily about the credits (this assumes you don't particularly value Amex or Delta lounge access).
Welp, no more delaying the downgrade to CSP. I mean seriously, $75k annual spend for status with IHG/SW is the best y’all got? Coupon cutting for restaurant meals? Complete waste of an AF.
I remember when Chase and Amex were in bitter warfare for the young professional demographic and now it looks like Amex has won that battle.
You say Amex has won the battle...dumb question I'm sure..but with which of their cards?
“ I also appreciate the ability to earn 4x points on hotel purchases, since that’s an industry leading return on that spending”
No Ben, it’s not. Once again you act like the Wells Fargo Autograph Journey does not exist. Just because they don’t pay you to promote the card doesn’t mean that you should ignore it. It’s actually a pretty cool card and the number of transfer partners is slowly growing… all for $95
RIP to the travel category. Airbnb, Amtrak, Uber, public transit, ferries; all across the entire world. Get rid of that and this card loses a lot of earnings and a lot of value.
I foresee this coming closer to my Platinum where I use some great credits, but I don't actually spend much on this card.
Plus cruises and parking fees, which could both provide significant point accumulation for those who use them.
IHG status just became useless. Everyone will have it now.
Not many people are going to have this card for $800/year. You'll be ok
@IHG Pro you will be fine. Not a huge mass of people willing to spend 75k on top of a $795 annual fee. Much cheaper ways to earn IHG Diamond plus Ambassador purchase.
Don't worry. Not many people are interested in IHG "status."
The real question is whether they'll incentivize people to get this card by waiving the SUB 4-year lockout. That would be a make/break probably for me..
I feel like I'll need a war room in my house with maps and charts to track if I have used all of my benefits and gotten the most value from the card, and those who have this card are those whose time is valuable, it's just not going to be fun to have to diligently track all of this stuff each month and ensure you use it all in order to justify that fee. I think this is the final blow for me on keeping the card, it's just not worth the hassle anymore.
If you do decide to go the war room route, make sure to purchase the supplies through the Chase portal
I actually think that some of these credits may make this card worthwhile to me. My biggest disappointment is the loss of the 3x for all travel and also the fact that now between this card and my AMEX Platinum card, I have two huge coupon books to keep up with. It was much simpler to have one premium travel card with numerous credits that effectively reduce the annual fee. Having two separate coupon books just increases the chances of breakage.
There’s little point to pimping up this card anymore. With the loss of 3x on all travel, the cartwheels and extra hoops to jump through to earn bonus points make this card a dud. Plus I think people are just tired of card-couponing.
Time to go looking for a new card. #bye_felicia
Any indications whether the CSP will change in any way?
@ Mentees Salmon -- Nothing that I've seen, other than that Chase Travel 1.25 cent redemptions will drop to 1.0 cent redemptions.
Ben, one other thing to note is that previously hotels and rental cars got a 10x bonus through the travel portal. If it’s now a flat 8x for all purchases through the travel portal, then that’s a negative change as well.
@ Zach -- Good point, adding that now, thanks!
would love to see a comparison of The Edit vs Amex FHR and see which hotels are included/price points of each/sweet spots/etc
In my experience FHR is much more robust, but there are rarely some properties on The Edit not on FHR.
I know they don't care about people like me, but I live in rural Maine. Most of these credits are useless to me. Just canceled my card since I am up soon anyway and moving to Venture X. Just want lounges and simplicity.
Even living in CT these coupon book credits are a complete PitA to redeem. There are NO options at all for the Chase Reserve Table in my area and the StubHub credit is not something I can see myself using either as it would require me to go to NYC where there are more events to pick from. Clearly the people at Chase seem to want to focus on people in big cities and that is fine but it's going to loose them members outside of those areas.
Yup 1000%, I am liking the Venture X. The travel the 300 credit plus the annual 10,000 bonus pays for the card. The Capital One Lounges are lovely and you still get priority pass all for the 375 annual fee.
The 3x travel was nice though since it included taxis, public transit, etc.
Generally not impressed by these changes, I'm glad I downgraded.
Same here. CSP is much easier to justify… although, if starting from scratch, CapOne would probably be the way to go these days.
Yep, as someone who commutes via train and frequently takes Uber/taxis etc, losing that is devastating. Not a fan of all these changes - all of the cards are making it incredibly complicated to use the perks, hidden beneath a flashy big number that you "can" receive.
I read the doordash credit is not a blanket $25 a month. It's $5 in restaurants and 2x $10 convience and retail. That already exists today so it's not new. And is frankly useless. $5 isn't enough to incentivize me to to make and order. And $10 on convience just covers the higher DD price+fees+tip.
@ Mm -- Updated the post to specifically call that out, thanks.
My wife and I both have the CSR. Been to lazy to downgrade her. Not anymore, that will happen today.