this Chase SapphireReserve® (See Rates and Fees) Just got the biggest refresh – and the annual fee was added as a result. This is the jump from the previous $550, and it naturally raises the question: Is this still worth it?
We have broken the pros and cons of the new structure, but in this post I became specific: What is needed even an annual fee?
Have you decided Apply Or keep the card after the next renewal, which is what to consider and how to squeeze out actual value from the new allowance.
What does the refreshed sapphire reserve offer?
Chase has introduced some significant changes for new applicants starting June 23; existing cardholders can earn new credits (valued over $1,700) starting October 26.
Here is a quick breakdown:
- Annual Editor Hotel Credit of up to $500: $250 per year; a minimum of two nights required prepayment.
- $300 Travel Credit: Automatically applicable every year and can be fully used.
- $300 Meal Credit: $150 per year; for a selection of restaurants in the Sapphire Reserve Special Dining Table Plan.
- Up to $300 per year entertainment credits: $150 per two years for StubHub/Viagogo tickets (until December 31, 2027).
- $250 Apple Credit: For Apple TV+ and Apple Music subscriptions (until June 22, 2027).
- Up to $180 per year in Doordash points: $15 per month (activated until December 31, 2027).
- $120 Peloton Credit: $10 per month (until December 31, 2027).
- Lyft credits up to $120 per year: $10 per month (until September 30, 2027)
Related: Chase Sapphire Reserve Statement Credit: What They Are and How to Use They
*The mobile application via the challenge.com or the challenge requires one-time activation.
Cardholders also earn:
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- Booking a trip through Chase Travel for 8 p.m. per dollar
- 4 o’clock per dollar for flights and hotels booked directly
- Dining 3 o’clock per dollar
- Every dollar spent on all other purchases
Additionally, all cardholders can now redeem up to 2 cents per point when booking trips with the New Point Upgrade feature (no need to wait until October).
When can I pay a new $795 annual fee?
The following analysis is based on new cardholders who apply for new cardholders on June 23. Existing cardholders who apply for the card by June 23 will pay the additional fee on the next anniversary from October 26.
You might be as lucky as I did: Since my renewal was October 1st, I will receive a new allowance for nearly a year for $550 for the old fee – it’s a perfect trial to decide if the higher fees are worth it next year.
What kind of traveler are you?
Even the key to breaking on sapphire reserves is not to use all allowances, but to use the benefits that make the most sense for you. This is how you break down numbers based on how you travel and use your card.
Frequent travelers
You are a rewarded consumer and do not need to use every benefit, but are enough right consumers to unlock serious value. You can track your credits if it makes sense, strategically redeemed points and book through the Chase Travel Portal.
Estimated value:
- Complete Travel Credit: $300
- Complete Apple Credit: $250
- Full Lyft Credit: $120
- One-of-a-kind credit for two hotels: $250
- One-time meal credits: $150
- One-one for two entertainment credits: $150
- Eight Lounge Visits ($30 per time): $240
- Redemption 40,000:2 cents: $800
Total value: $2,260
what to do? Retention – Even if you only use some credits, you will almost get three times the annual fee of value.
Moderate traveler
You travel a few times a year and use benefits occasionally – but you are not chasing monthly credit. Even if you don’t maximize all benefits, you can still lead.
Estimated value:
- Complete Travel Credit: $300
- One credit for dining or entertainment: $150
- Half of Doordash Points: $90
- Four lounge visits: $120
- Redeem 20,000 points, 1.5 cents per minute: $300
Total value: $960
what to do? Keep – Even with a set of partial benefits, you’ll clear the $795 annual fee of nearly $200.
Leisure traveler
You mainly use your sapphire reserves for the basics (such as earning points on dining and travel), and rarely do your best to activate points or bookings through Chase. This is where mathematics is not enough.
Estimated value:
- Complete Travel Credit: $300
- Half of Doordash Points: $90
- Two Lounge Visits: $60
- Redemption of 15,000 points, 1 cent each: $150
Total value: $600
what to do? Downgrade or cancel – Unless your habits change, you leave too much value on the table to prove the $795 fee.
Bottom line
refresh Sapphire Conservation Area Still have good value – but it’s not that easy anymore.
To break, you only need to use three benefits: a $300 travel credit, a $250 hotel credit through Chase Travel, a 17,000-point redemption ($255) per 1.5 cents. This brings your value to $805 – enough to pay the annual fee of $795.
From there, every privilege of dining, entertainment or lounge will push you further into the profit area.
If you are willing to interact with even a few of these benefits every year, the card can prove its new and higher price. If not, Chase Sapphire Priority® Card (See rates and fees) or a simple cash folding card may be the smarter option.
To learn more, read our full review of the Sapphire Reserve.
Apply here: Chatong Sapphire Reserve
Related: Chase Sapphire Preferred and Sapphire Reserve: There are new changes, which card is best for you?
