Chase’s Updated Sapphire Reserve Card: Is the New $795 Fee Worth It?

The Chase Sapphire Reserve card just got more expensive. The annual fee has jumped from $550 to $795. That’s a big change, and many of us are wondering if it’s still worth it. Chase has introduced fresh benefits, updated credits, and new features to match the increased annual fee. But will most of us actually use them?

See what benefits you get, and how much real value is packed into the card. We’ll also compare it with other premium cards and help you decide if it’s the right fit for your wallet. If you travel often or love rewards, it might still be a great deal. But if you’re not using all the perks, the new cost may not make sense. Let’s take a closer look together.

What’s Changed?

1. Annual Fee: Now $795 (formerly $550), and authorized user cards jump from $75 to $195.
2. Welcome Offer: Get 100,000 bonus points and a $500 Chase Travel credit when you spend $5,000 within the first 3 months.

Rewards Structure:

• 8× points on travel booked via the Chase travel portal
• 4× on flights and hotels purchased directly
• 3× on dining
• 1× on all other purchases

“Points Boost”:

Some travel redemptions now get 2¢ per point. Other redemptions will decrease to 1 cent per point starting in October 2027.

Statement Credits:

• $300 travel credit (unchanged)
• $500 “The Edit” hotel credit, divided into two $250 credits each year.
• $300 dining credit via Exclusive Tables
• $300 StubHub/Viagogo
• $250 Apple Music & TV+
• $300 DoorDash promos + DashPass
• $120 Peloton
• $120 Lyft

6. Elite Status (with $75,000 annual spending): Includes IHG Diamond status, Southwest A-List membership, and a $500 travel credit for Southwest.

Lounge & Travel Protections: 

Same strong access to Priority Pass and Chase lounges. They also kept travel insurance and Global Entry/TSA PreCheck credit.

Estimating Annual Value

Total Statement Credits (fully used):

• Travel $300
• Edit hotels $500
• Dining $300
• StubHub $300
• DoorDash $300
• Apple subs $250
• Peloton $120
• Lyft $120
  = $2,190 annually

Add $30 for TSA credit. That brings us to ≈ $2,220.

Bonus Points Earnings:

• Booking $20,000 in Chase travel at 8× = 160,000 points
• Booking $10,000 direct flights/hotels at 4× = 40,000 points
  At 2¢ redemption via Points Boost, that’s ≈ $4,000 in value.

Non-portal redemptions would be 1¢–1.5¢ per point. Transfers to partners can boost value higher, but need a strategy.

Heavy Spend Perks: If we hit $75K spend, the added elite status and Southwest credit add more, but that’s a high bar.

Who Wins, and Who Doesn’t

Best Fit Cardholder:

• Travels often and uses travel/dining credits fully
• Redeems points via the portal or transfer partners
• Open to tracking benefits and thresholds

Less Ideal:

• Casual or infrequent travelers
• Low spenders or those uninterested in credits like DoorDash, Peloton
• People living far from major cities or lounge locations

Alternatives:

• AmEx Platinum ($695 fee) with strong Uber, airline, and hotel credits; still complicated
• Capital One Venture X, with a $395 annual fee, offers straightforward travel credits and access to airport lounges.

Is It Still Worth It?

Yes, if:

• You travel frequently
• You’ll use all statement credits
• You can redeem smartly via portal transfers

No, if:

• You travel only now and then
• You’re unlikely to take advantage of perks such as DoorDash or Peloton.
• You want simpler and cheaper options

Conclusion

The Sapphire Reserve is still powerful, but only if you’re active enough. For frequent travelers who track benefits, it likely delivers more than $795 worth. For others, simpler cards deliver similar perks with less hassle. We suggest mapping your annual spend and planned redemption paths before deciding. The choice comes down to alignment, your habits, your needs, and your wallet.

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Disclaimer:

This content is for informational purposes only and not financial advice. Always conduct your research.