Chase Sapphire Reserve cardholders are fuming after the bank confirmed it’s hiking the annual fee from $550 to a jaw-dropping $795 starting June 23.
That’s a 45% increase, and customers aren’t exactly thrilled, many are now questioning whether the card’s benefits are even worth it anymore. The popular travel rewards credit card has long been a favorite among big spenders and jet-setters, but with this new price tag, it’s starting to feel like the perks are locked behind a massive paywall.
Some cardholders are venting online, saying they don’t see the value. One person joked about paying nearly $800 “for DoorDash,” referring to the free DashPass that comes with the card. Others chimed in saying they’re relieved their renewal happened before the hike. So, what do you get for almost $800? According to Chase, the Sapphire Reserve card still comes packed with travel perks, like 8x points on travel booked through Chase Travel, 4x points when you book directly with airlines or hotels, and up to $500 back when staying at hotels from Chase’s hand-picked Edit collection.
Here’s a quick comparison of the Sapphire Reserve card perks:
| Perk | Available to All | Requires $75k+ Annual Spend |
|---|---|---|
| 8x points on Chase Travel bookings | ✅ Yes | ❌ No |
| 4x points on direct airline/hotel bookings | ✅ Yes | ❌ No |
| $500 back on The Edit hotel bookings | ✅ Yes | ❌ No |
| $300 annual travel credit | ✅ Yes | ❌ No |
| 3x points on dining | ✅ Yes | ❌ No |
| DashPass, Apple TV+, Apple Music perks | ✅ Yes | ❌ No |
| $120 Peloton credit & $300 StubHub credit | ✅ Yes | ❌ No |
| IHG Diamond Elite hotel status | ❌ No | ✅ Yes |
| $500 Southwest Airlines credit + A-List Status | ❌ No | ✅ Yes |
| $250 Chase shopping credit | ❌ No | ✅ Yes |
Experts like Matt Schulz from LendingTree say that only a small fraction of cardholders will actually spend enough to unlock those top-tier rewards. According to their data, just 3% of U.S. credit card users would even consider a $1,000 annual fee, so the new Chase Sapphire Reserve price tag is a big ask.
If you’re not racking up huge travel bills or dining out like crazy, it might be time to rethink if this card is still worth it for your wallet. Chase is offering up a few limited-time bonuses, like a $300 free cash reward and a $100 teen bonus before July 16, which might take some of the sting out.
But in the end, the Chase Sapphire Reserve annual fee hike has changed the game. If you’re not spending over $75,000 a year to chase those elite perks, this premium card might just be a premium mistake.
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