CUSTOMERS of Chase Bank will see a slew of new benefits as the financial giant revamps one of its popular credit cards, including the introduction of the “unmatched” Points Boost program.
The benefit changes will take effect on October 26 alongside a $245 jump to the card’s annual fee.
JPMorgan Chase is the biggest bank in the country[/caption]
Chase is bumping up the annual fee on one of its popular credit cards[/caption]
One of the “most rewarding credit cards on the market,” the Chase Sapphire Reserve card is in for a major overhaul late next month.
Earlier this summer, the bank announced that the credit card’s annual fee would jump from $550 to $795 starting on October 26 for customers who have had the Sapphire Reserve card prior to June 23 this year.
New customers who were approved for the card on or after June 23 were already subject to the fee.
While many Chase users are not pleased with the increased charge, the banking giant justified the jump by adding a range of new statement credits and perks.
“The new Sapphire Reserve card is the culmination of years of focus on the things most important to our cardmembers: travel, dining, entertainment and exceptional service,” Chris Reagan, president of branded cards at Chase, said in a statement.
“The card offers incredible rewards and benefits centered on our cardmembers’ lifestyles – whether it’s scoring hard-to-get reservations at great restaurants, elevating every aspect of their trips or providing access to amazing experiences.”
For example, one of the benefits Chase is rolling out is Points Boost, a points redemption program that boosts the value of Sapphire Reserve cardmembers’ points by up to two times, redeemable for rotating offers via Chase Travel.
This program helps to maximize the value of customers’ points on premium flights and select hotels.
Sapphire Reserve cardholders can also score a $500 credit each year for any hotel or resort booking through The Edit by Chase Travel, an exclusive collection of more than 1,100 accommodations around the world.
Cardmembers also get to enjoy complimentary benefits such as free breakfast and a $100 property credit at these hotels.
Other eye-catching perks will be available thanks to the $245 fee increase, including up to $300 in StubHub and Viagogo credit for concerts or live events, a $300 annual dining credit for reservations made through Sapphire Reserve Exclusive Tables, and $120 toward a DashPass membership.
Chase Sapphire Reserve will now offer more value than ever, with over $2,700 in annual cardmember value, according to the bank.
CARD CLASH
Just days after competitor Chase unveiled its revamp of its Sapphire Reserve Card, American Express announced it would similarly be hiking its credit card fee and rolling out new benefits.
The card issuer and payment network previously announced plans to update its Platinum and Business Platinum cards sometime later this fall, sharing minimal details about the launch.
How does Points Boost work?
Points Boost is Chase’s new points redemption accelerator program.
- With Points Boost offers, points will be worth up to 2x on thousands of top-booked hotels and flights with select airlines and hotels through Chase Travel.
- For Chase Travel purchases not eligible for Points Boost Offers, points can be redeemed at a 1:1 rate on Chase Travel, replacing 1.5x on all Chase Travel purchases.
- Points earned prior to October 26, 2025, by Sapphire Reserve cardmembers who applied prior to June 23, 2025, can be redeemed at 1.5x on Chase Travel until October 26, 2027.
- For points earned prior to October 26, 2025, cardmembers will automatically receive the best offer available, whether it’s Points Boost or 1.5x on Chase Travel, maximizing rewards value for two years.
Source: Chase
“We’re going to take these cards to a new level, not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel, to meet the evolving needs of our customers,” US customer services group president Howard Grosfield previously said in a statement.
Since the announcement, several details regarding the changes have been leaked, such as that American Express will raise the yearly fee by $200 starting on Thursday, September 18, from $695 to $895.
Another expected addition is a $400 dining credit for US Resy restaurants and a range of new lifestyle and travel credits, like a $600 Fine Hotels + Resorts credit
An X post from American Express also revealed that the Platinum and Business Platinum will have a new look, with a mirrored design replacing the classic metal aesthetic.
As American Express and Chase spark a luxury card fight, Citibank has revealed 16 “perks” to cash in on before the September 22 deadline.
Meanwhile, Americans can get up to $200 in free money from Wells Fargo – there’s no deadline.
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