The Chase Sapphire Reserve Card is Changing

Chase has decided it’s time to make some changes to its high-end travel rewards credit card, the Chase Sapphire Reserve.

Its annual fee is increasing by $100 to $550 per year.

In addition, it’s receiving a few new benefits that may, for some, be enough to offset the $100 hike to the annual fee.

Let’s take a look at the changes.

Sapphire Reserve Card Changes

The changes to the Sapphire Reserve card will go into effect January 12, 2020.

The changes include:

Increased annual fee of $550. Current Sapphire Reserve cardholders with a renewal date prior to April 1, 2020, will receive one more year of the $450 annual fee. Renewals hitting April 1, 2020, or later will renew at the higher, $550, annual fee.

New Lyft partnership and accompanying benefits.

• Earn 10x Ultimate Rewards points on Lyft purchases paid for with the Sapphire Reserve card (through March 2022)
• Complimentary Lyft Pink membership (through March 2022) which includes, 15% off unlimited car rides, priority airport pickups, relaxed cancellations (three cancellation fees waived each month if you rebook within 15 minutes), waived lost and found fees and 3 free bike/scooter riders per month

DoorDash partnership and benefits. You can read our piece “Select Chase Credit Card Holders Can Enjoy DoorDash’s DashPass Free of Charge” for details. Below are the quick hit points specific to the Reserve card.

• $60 in DoorDash credits during 2020 and another $60 in 2021 – this is a lump sum that can be used in any amount you wish
• DashPass for up to 2 years – provides free deliveries (no delivery fee) on orders from eligible restaurants and reduced service fees

The Sapphire Reserve retains all its current benefits such as:

• $300 travel credit
• 3x Ultimate Reward points earning on travel and dining purchases
• Ability to redeem Ultimate Rewards points at 1.5 cents each when booking travel through the Chase travel portal
• Priority Pass Select membership which includes access to lounges and airport restaurants
• $100 application fee credit every 4 years for Global Entry or TSA PreCheck

Still a Good Card?

As with most things in the Miles and Points hobby, whether the Sapphire Reserve card remains a keeper…or one you should consider…depends on your specific situation.

Will you use the new Lyft and DoorDash benefits?

If yes, then maybe the increased annual fee is worth it to you.

If no, then a downgrade to the Sapphire Preferred may be a better option.

Or even to a Freedom or Freedom Unlimited if you don’t have a need to transfer Ultimate Rewards points to travel partners right now.

You can always upgrade to the Sapphire Preferred – or the Sapphire Reserve at its higher annual fee – from the Freedom cards at a future date if your plans change and the Sapphire cards’ benefits better fit your situation.

Make no mistake, the Sapphire Reserve is still a benefit laden card with the perks that initially made it the go-to travel rewards credit card for many.

But, with the $100 increase to the card’s annual fee, its value proposition isn’t quite as clear-cut as it was pre-Chase’s decision to bring about these changes.