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

This week, the Chase Sapphire Reserve card went through some of the biggest changes we’ve seen in 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 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: CSR used to earn 3x on all travel, but now it earns:

• 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 definitely 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 lifestyle perks and credits to make up for the higher fee. Some noteworthy highlights include:

• $300 Travel Credit: Same easy-to-use credit as before.
• $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).
• $300 Dining Credit: $150 every 6 months at participating restaurants—just use your card, no pre-booking required.
• $150 StubHub Credit: $75 every 6 months (great only if you actually use StubHub).
• Free Apple Music + Apple TV+ Subscriptions: Free while you have the card.
• $120 Peloton Credit: $10/month toward your Peloton subscription.
• $120 Lyft in-app cCedits: Up to $10 monthly, and the ability to earn 5x total points on eligible Lyft rides.
• IHG Platinum 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.
• Bonus perks if you spend $75K/year: Upgrades to IHG Diamond, Southwest A-List, $500 Southwest credit 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. Key benefits include:

• Same 8x/4x earnings on travel + $300 travel credit and $500 Edit credit.
• 3x on advertising spend instead of dining (uncapped).
• $120 Global Entry, TSA PreCheck, or NEXUS credit (every four years).
• Free employee cards (but no lounge access for them).
• Different credits:
  • $200/year for Google Workspace
  • $200 every 6 months for ZipRecruiter
  • $50 every 6 months for GiftCards.com
  • No StubHub, Peloton, Apple or dining credits

Also, the business version has a higher spend threshold of $120K/year instead of $75K to unlock premium perks.

📘 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