Big Shift: Fee Jumps from $550 to $795
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| Big shift from $550 to $795. |
JPMorgan Chase has dropped a bombshell: as of June 23, 2025, the Chase Sapphire Reserve’s annual fee leaps a whopping 45%, from $550 to $795—now even pricier than the Amex Platinum ($695) .
Tailored Perks to Sweeten the Deal
To justify the high cost, Chase is rolling out an upgraded perks package:
-$500 "Edit" hotel booking credit ($250 every six months)
-$300 dining credit via Sapphire Tables ($150 semi‑annually)
-$300 credit for StubHub/Viagogo ($150 twice yearly)
DoorDash credits totalling $300 annually + DashPass membership
-$250 in Apple Music & TV+ credits, plus Lyft ($120) and Peloton ($120) credits
-$500 Southwest Airlines credit, IHG Diamond status, and elite perks—but only after spending $75K per year
Who Breaks Even?
Experts warn the average spender won’t tap the full potential—many must charge $75,000 annually to access premium perks .
Even more moderate users would need $18,000–$55,000 annually, depending on mix of dining, travel, and lifestyle use, to justify the fee .
Industry Trends & Market Impacts
This isn’t an isolated move—American Express is also rumored to raise its Platinum card fee to around $1,000, and premium card fees are rising across the board .
For investors, higher fees and spend might bolster issuer revenue, though reward costs could eat into profits. Premium plastic makers like CompoSecure stand to benefit from the trend .
🤔 Is It Worth It?
Travel power users who max out dining, travel, and lifestyle perks (especially through Chase’s portal) could extract $2,700+ in annual value—enough to outweigh the fee .
Casual spenders may find the fee too steep unless they can consistently use every credit.
Lower spenders might lean toward cards like Sapphire Preferred or others in Chase’s lineup .
Timing & Application Notes
New applicants after June 23, 2025 pay the $795 fee immediately and receive full perk access.
Existing cardholders won't see the fee until their next renewal after October 26, 2025, but can start enjoying the new benefits on that date .
Bottom Line
Chase has turned up the shimmer on its flagship travel card—stacking elite lifestyle perks on a hefty $795 annual fee. If you're a frequent traveler and dining enthusiast who can leverage benefits—especially the hefty spend thresholds—it could still pay off. For most cardholders, though, it’s a decision involving serious number-crunching: can you spend richly enough to redeem richly?
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