Chase has announced two major updates to its Sapphire Reserve lineup: the launch of the new Chase Sapphire Reserve for Business and a comprehensive refresh of the personal Chase Sapphire Reserve card. The personal Sapphire Reserve now carries a $795 annual fee (a substantial increase from the previous $550), matching the business version. Both cards launch on June 23, 2025.
Here’s what you need to know about the updated benefits offered by both cards and my take on whether they’re worth the high cost:
Timeline
The new Chase Sapphire Reserve and Sapphire Reserve for Business will become available on June 23, 2025. If you’re an existing Sapphire Reserve cardholder, the new card benefits and annual fee will go into effect on October 27, 2025.
It’s also worth noting that authorized user cards will incur a $195 annual fee (up from $75) after October 26, 2025.
This provides plenty of time for you to decide whether to keep, cancel or downgrade your Sapphire Reserve card. Here are some more dates and deadlines to be aware of:
- June 23, 2025: Applications open up for the new Chase Sapphire Reserve and Sapphire Reserve for Business card.
- June 23, 2025: Points Boost becomes available for existing Sapphire Reserve cardholders (more on that later).
- October 26, 2025: New benefits (and higher annual fee) go into effect for existing Sapphire Reserve cardholders.
- October 27, 2027: Points can be redeemed at a 1:1 ratio for all Chase Travel redemptions not eligible for Points Boost
Ultimate Rewards redemption changes
One of the most notable changes impacting both cards is the introduction of Points Boost. Basically, this alters how points can be redeemed through the Ultimate Rewards travel portal.
Until October 26, 2027, existing Sapphire Reserve cardholders can redeem their points through the Ultimate Rewards travel portal at 1.5 cents each.
With Points Boost, your Chase points will be worth mostly 1 cent each, except for select categories where you’ll get “upwards of 2X” value. Qualifying Points Boost redemptions include flights, select hotels, and The Edit by Chase Travel bookings (similar to the Amex FHR program).
Existing Sapphire cardholders can still redeem Chase points earned before October 26, 2025 at 1.5 cents each through October 26, 2027. Any points earned after October 26, 2025 are subject to the new Points Boost rates.
Chase Sapphire Reserve changes
The Chase Sapphire Reserve has long been considered one of the best travel credit cards, thanks to its combination of valuable rewards, flexible redemption options, and premium travel protections.
The 2025 refresh introduces new lifestyle and dining benefits, increased point-earning potential, and a revamped redemption structure. Here’s a look at everything that’s changing:
New Sapphire Reserve earn rates
Overall, the new Chase Sapphire Reserve will earn more rewards than before. Cardholders will continue to earn 3X points on dining worldwide and 1X points on all non-bonus category spending. Earn rates for some Chase Travel bookings are dropping, however.
Here’s a look at how earning points will be different with the new Chase Sapphire Reserve card:
- 8X points on all purchases made through Chase Travel, including The Edit (previously 5X on flights and 10X on hotels and rental cars only)
- 4X points on flights and hotels booked directly with airlines and hotels (previously 3X)
The 10X earn rate on Chase Dining will be discontinued, which is pretty substantial.
Annual travel and entertainment credits
In exchange for a $795 annual fee, the new Chase Sapphire Reserve offers over $2,000 in annual travel, dining, and entertainment credits. The $300 annual travel credit will stay intact and cardholders will also receive the following annual credits:
- $500 credit toward bookings at The Edit by Chase Travel, a curated hotel collection ($250 from January through June, $250 from July to December)
- $300 annual dining credit ($150 January-June, $150 July-December) toward Sapphire Reserve Exclusive Tables
- $300 StubHub and Viagogo credit for concert and event tickets ($150 January-June, $150 July-December)
- $300 in DoorDash credits ($25 issued monthly), plus complimentary DashPass membership (worth $120)
- $250 in Apple Music and Apple TV+ subscription credits
- $120 in annual Lyft credits (up to $10/month)
- Up to $120 in Peloton membership credits, plus 10x points on Peloton equipment purchases through 9/30/27.
These are pretty generous credits that can make the annual fee worthwhile for those who utilize them. But if you’re merely buying concert tickets and signing up for Apple Music for the credits? Not so much.
Travel benefits
Chase Sapphire Reserve cardholders will continue to receive useful travel protections and a $120 application fee credit every four years towards Global Entry, TSA PreCheck, or NEXUS. But two new travel perks will be added that can offer tremendous value for frequent travelers:
- IHG One Rewards Platinum elite status (through December 31, 2027)
- End-to-end itinerary planning through Reserve Travel Designers
IHG Platinum status normally requires 40 nights or 60,000 base points and comes with useful perks like 60% bonus points, Hertz Five Star status, reward night discounts, space-available room upgrades, early check-in, late check-out, and others.
However, you can also get automatic IHG Platinum status with the IHG One Rewards Premier Credit Card. So if that’s your primary reason for keeping this card, there are cheaper alternatives.
Lounge access
Sapphire Reserve cardholders will continue to receive lounge access perks via Priority Pass and the Chase Sapphire lounge network.
What’s changing is the addition of Air Canada Maple Leaf Lounges and Air Canada Cafes when flying a Star Alliance carriers. This benefit is available when traveling in the U.S., Canada and Europe.
Benefits for high spenders
Sapphier Reserve cardholders who spend $75,000 annually will unlock the following benefits:
- IHG One Rewards Diamond elite status
- Southwest Airlines A-List status
- $500 Southwest Airlines flight credit (when booked through Chase Travel)
- $250 annual credit at The Shops at Chase
These are all great incentives for adding extra spending to your card, especially if these charges fall into the card’s bonus categories. If not, you might be better off channeling $75,000 towards other cards, like the World of Hyatt (where you’ll earn free nights and elite night credits), the Southwest cards (getting 60% towards the Companion Pass), or a plain old 2% cash back card that can earn you $1,500.
The Shops at Chase is a new program that allows cardholders to shop with points, cash or a combination. Participating brands include the following:
- Baccarat
- Bang & Olufsen
- Breitling
- Callaway
- CALPAK
- Cuisinart
- Dyson
- Samsonite
- SMEG
- Solo Stove
- SONY
- Therabody
- Tory Burch
- TUMI.
Is the new Chase Sapphire Reserve card worth it?
The annual fee hike on the new Chase Sapphire Reserve is steep, don’t get me wrong. Do I want to pay almost $800 in exchange for “over $2,000 in annual travel credits”? No. But that’s because I’m already paying $495 a year for my Citi Prestige and that’s plenty enough.
Not to mention, I’ll be downgrading my Amex Platinum when the $695 annual fee hits next month. I just can’t stomach spending thousands a year on annual fees for “benefits” that I wouldn’t otherwise pay for.
That being said, the annual travel credits are pretty generous. So if your travel and entertainment expenses align with these credits, the annual fee hike may not be as big a deal. With the spend-based incentives, the new Chase Sapphire Reserve could be worth it if you’re consolidating premium credit cards.
And if you’re looking to add a new sign-up bonus to your balance sheet, this card could be worth it. I’m just personally not in need of any new “coupon books” and would prefer not to track the various statement credits (some of which are issued semi-annually) to ensure I’m getting the most alue out of the card.
Chase Sapphire Reserve for Business
The new Chase Sapphire Reserve for Business is Chase’s first premium travel card for business owners. It shares many features with the personal version, including the same $795 annual fee, but adds business-focused credits and bonus categories.
Chase estimates the card provides over $2,500 in annual value through travel rewards and business-specific partner credits. Unlike the personal Sapphire Reserve, the business version has no annual fee for employee cards.
Here’s an overview of the card’s benefits and earn rates:
Points earning
The new Chase Sapphire Reserve for Business has a similar earn rate to the personal Sapphire Reserve. The difference is that the business version earns 3X points on advertising on social media and search engine platforms.
- 8X points on travel booked through Chase Travel
- 4X points on direct bookings for flights and hotels
- 3X points on advertising purchases made with social media and search engine platforms
- 1X points on all other eligible purchases
- 5X points on Lyft rides through 9/30/2027
Annual travel and entertainment credits
The Sapphire Reserve for Business card offers $800 worth of annual travel credits. The annual $300 travel credit is the most flexible, but the $500 credit is a bit more restrictive. It’s issued twice a year in $250 increments and only applicable towards The Edit hotel bookings.
Still, these credits can go a long way in covering travel expenses and justifying the annual fee.
- $500 The Edit hotel credit ($250 January-June, $250 July-December)
- $300 annual travel credit
- $300 in DoorDash credits ($25 issued monthly), plus complimentary DashPass membership (worth $120)
- $120 Global Entry, TSA PreCheck, or NEXUS credit every four years
Business credits
In addition to $800 in annual travel credits, Reserve for Business cardholders receive over $1,000 in recurring credits toward business expenses. These credits are issued either annually, semi-annually, or monthly:
- $400 ZipRecruiter credit to help source new hires ($200 January-June, $200 July-December)
- $200 Google Workspace credit (applicable to AI tools and productivity services)
- $120 annual Lyft credit (up to $10/month)
- $100 Giftcards.com credit for employee appreciation ($50 January-June, $50 July-December) when purchasing gift cards from giftcards.com/reservebusiness
Travel benefits
The Sapphire for Business card’s travel benefits are very similar to the personal card, including some of the best travel protections, lounge access and IHG Platinum elite status.
- Complimentary IHG One Rewards Platinum Elite status
- Lounge access through Chase Sapphire Lounges and Priority Pass (primary cardholders may bring two guests)
- Built-in travel protections including primary car rental insurance and trip cancellation coverage
- Access to Chase Sapphire Reserve Exclusive Tables on OpenTable for primary and employee cards
Benefits for high spenders
Business cardholders who spend $120,000 or more per calendar year receive the following perks:
- IHG Diamond Elite Status (through December 31, 2027
- Southwest Airlines A-List status
- $500 Southwest credit
- $500 annual credit at The Shops at Chase
Southwest A-List status normally requires 20 flights or 35,000 points and includes priority boarding, a free checked bag, 25% bonus points, priority and express lane access, and other perks.
Meanwhile, top-tier IHG Diamond elite status requires 70 nights or 120,000 base points. At this level, members receive 100% bonus points, Hertz President’s Circle status, complimentary breakfast, a dedicated Diamond support line and more.
Are these perks worth chaneling $120,000 in spending towards this card? Not really. But again, if your business has large expenses and few other ways to maximize them, this card could be a good option.
Is the Sapphire Reserve for Business card worth it?
The Sapphire Reserve for Business could be a good fit for small businesses looking for premium travel perks. If your spending aligns with the card’s bonus categories and statement credits (i.e. advertising and travel), then the $795 annual fee isn’t so bad.
Furthermore, the $0 fee for additional cardholders can be a great choice for businesses that want to maximize employee spending and extend useful travel protections and perks without an additional charge.
Because there are so many statement credits, I would only recommend getting this card if you’re able to put your spending on autopilot, knowing the recurring credits will be used. Otherwise, it’s might be a hassle to track and ensure they get used on time.
Personally, I think the average small business might be better off with a Chase Ink Card or even an Amex Blue Business, which has no annual fee and earns 2X points on the first $50,000 spent. But again, consider your own spending habits and goals when deciding whether the Sapphire Reserve for Business is worth having long-term.
Final thoughts
With these updates, Chase is clearly reinforcing its position at the top of the premium travel rewards space. While the $795 annual fee may be a dealbreaker for some, the sheer amount of value provided—from high earn rates and valuable credits to premium travel perks and redemption flexibility—makes a strong case for both versions of the Sapphire Reserve.
For business owners who travel frequently and spend heavily on ads or software, the Sapphire Reserve for Business offers a compelling return on spend. For individual travelers, the new Chase Sapphire Reserve can be a solid card if you’re maximizing all the credits and elevated Ultimate Rewards redemption rates.
As always, the key to making either card worth the cost is using the benefits. If you can make use of the dining credits, travel perks, and spend-based bonuses, the new Chase Sapphire Reserve lineup is worth considering.
What do you guys think of the new Chase Sapphire Reserve cards? Are you applying for any of these cards?
NO WAY JOSE