💳 Chase Sapphire Reserve Refresh: Latest Perks, New Business Card, Points Boost & More

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This week, the Chase Sapphire Reserve card went through some of the biggest changes we’ve seen over the years. The Chase Sapphire Reserve® (CSR) now comes with a higher annual fee, new earning categories, a bunch of new perks, and a completely new way to redeem points through “Points Boost.”

Plus, they'll soon be launching a new Chase Sapphire Reserve® Business card (CSRB) with many of the same benefits (and some unique business-focused credits). Here's a breakdown of what’s new and whether I think it’s worth it, without considering the welcome offers, which will go live only on 6/23/25. 

🔄 The New Chase Sapphire Reserve: What's Changed

Annual Fee Jump: The annual fee is increasing from $550 to $795. That puts it $100 higher than The Platinum Card® from American Express, though Amex is also expected to revamp its card soon. It’s a pretty steep increase, but I personally think Chase added a lot of new benefits to try to justify the fee.

New Earning Structure

• 4x on flights and hotels booked directly
• 8x on all travel booked through Chase Travel (including flights, hotels, car rentals, cruises, experiences, and soon, vacation rentals)
• 3x on dining
• 5x on Lyft (until September 2027)
• 1x on everything else

If most of your travel spend is on flights and hotels, this is a nice bump. But if you often use Airbnb or book through OTAs, this is a downgrade.

Authorized User Fee: There’s now a $195 fee per authorized user, though they’ll still get lounge access.

New Perks and Credits: Chase is going all-in on the perks and credits to make up for the higher fee. 

• Travel
  • $300 travel credit
  • $500 “The Edit” credit: $250 every 6 months for bookings at Chase’s luxury hotel collection, The Edit (though the value is questionable if you don’t earn points on those stays).
  • $120 Global Entry, TSA PreCheck, or NEXUS credit: Available every four years.
  • Access to any Chase Sapphire Lounge by The Club: With up to two complimentary guests. 
  • Complimentary IHG One Rewards Platinum Elite status: Not amazing, but nice for occasional IHG stays.
  • Access to Reserve Travel Designers: End-to-end travel planning from custom itinerary to trip support.
• Dining 
  • $300 dining credit: $150 every 6 months at participating restaurants—just use your card, no pre-booking required.
  • Access to Sapphire Reserve Exclusive Tables: Prime-time reservations at a curated selection of high-demand, renowned restaurants.
• Lifestyle
  • $300 StubHub and viagogo credit: $150 every 6 months (great only if you actually use StubHub or viagogo).
  • Free Apple Music + Apple TV+ Subscriptions: A $250 annual value. 
  • $120 Peloton Credit and 10x points on all equipment purchases: $10/month toward your Peloton subscription.
  • $120 Lyft in-app credit: Up to $10 monthly, and the ability to earn 5x total points on eligible Lyft rides.
  • $300 DoorDash value and $120 DashPass membership: Includes a $5 restaurant promo and two $10 promos to spend on groceries, beauty, electronics and much more.

Bonus perks if you spend $75K/year: Upgrades to IHG Diamond, access to Southwest A-List, $500 Southwest Airlines credit when booked through Chase Travel, and a $250 credit for The Shops at Chase.

If you use just 3 types of credit (i.e. travel, The Edit credit, and dining), you’re already recouping a big chunk of the annual fee.

💰 Points Boost: A New Redemption Model

One of the biggest changes to the program is how you redeem points. Previously, points were worth 1.5¢ in the Chase Travel portal with the CSR. Starting 10/26/25, points earned after that date will only be worth 1¢, unless you use the new Points Boosts program.

Points Boost lets you get up to 2x value when booking select flights and hotels, including:

• Premium cabins with airlines like United, Southwest, Emirates, Singapore, and more.
• Hotels in The Edit (2x value).
• Select economy flights (excluding basic economy).

The bad news? It’s more complicated and less predictable than a flat 1.5¢ rate. The good news? You still get 1.5¢ on points earned before 10/25/25, until 10/27 if you move all your points to a CSR before that date.

 💼 The New Chase Sapphire Reserve Business Card

Launching on 6/23, the business version of the CSR is nearly identical to the personal card (including the $795 annual fee) but with some key differences that include business-oriented perks. 

• 3x points on social media and search engine advertising
• $400 ZipRecruiter hiring credit: Up to $200 every 6 months.
• $200 Google Workspace credit: As annual statement credit. 
• $100 Giftcards.com credit: Can be used towards a curated collection of notable brands on giftcards.com/reservebusiness.
• Free employee cards: But no lounge access for them

Bonus perks: Also, the business version has a higher spend threshold of $120K/year instead of $75K to unlock premium perks similar to CSR: IHG Diamond, access to Southwest A-List, $500 Southwest Airlines credit when booked through Chase Travel, and an increased $500 credit for The Shops at Chase.

⚖️ CSR vs. CSRB: Quick Comparison 

📘 New Sapphire Family Rule & Welcome Offer Changes

Chase is also scrapping its long-standing “Sapphire family rule” as of 6/23/25, meaning you can now hold both a Sapphire Preferred and a Sapphire Reserve simultaneously and still be eligible for welcome offers on each.

However, the traditional 48-month bonus eligibility window is evolving: rather than tracking across the entire Sapphire family, Chase will now apply that timeframe on a per‑product basis. So while you may be eligible for a bonus on one card, the bank could internally extend the wait period beyond 48 months before granting another. Their approval system will flag welcome-offer eligibility during applications and allow you to cancel without affecting your credit if you're ineligible.

💭 Final Thoughts

Overall, I think the new Chase Sapphire Reserve® is actually a solid upgrade, if you’re able to take advantage of the new perks. Yes, the higher annual fee and more complex rewards structure won’t be for everyone, and it does start to feel a bit like a coupon book. But if you already use services like Apple TV+, Peloton, or dine at included restaurants, the value can easily outweigh the fee.

As for the new business card, I’m less excited about the credits, but if the rumored 150k+ point bonus materializes, it could absolutely be worth it in year one.

And if you’re holding points across multiple Chase cards, here's a reminder to combine them into a CSR account before 10/25/25 to lock in the 1.5¢ value for two more years.