The NEW Chase Sapphire Reserve: The Most Expensive Credit Card... For Now?
May 28, 2025 · 3 min read
The Chase Sapphire Reserve is seeing a massive overhaul — the annual fee jumps to $795, surpassing even the Amex Platinum ($695) to become the highest annual fee consumer travel card on the market. Here's exactly what's new, what's staying the same, and whether this card still belongs in your wallet.
The Annual Fee
Final Numbers
Existing cardholders (or anyone who applies before June 23, 2025) keep current fees and benefits until October 25, 2025. The new $795 fee applies on your first account anniversary after that date.
New Perks & Credits
- $500 "The Edit" Annual Credit — Chase's version of Amex FHR, split into two $250 semiannual credits (Jan–Jun and Jul–Dec). Requires a minimum two-night booking to trigger.
- $300 Annual Dining Credit — two $150 semiannual credits for high-end restaurants in major cities, effective June 23, 2025.
- $300 StubHub Credit — two $150 semiannual credits for concert and event tickets on StubHub or viagogo.
- IHG One Rewards Platinum Elite Status — complimentary through December 31, 2027 (room upgrades, welcome amenities).
- Apple TV+ and Apple Music — complimentary through June 22, 2027.
- $120 Peloton statement credit.
- Reserve Travel Designers — personalized travel planning services (Chase values this at $300).
What's Staying the Same
- Flexible $300 Annual Travel Credit
- Global Entry / TSA PreCheck statement credits
- Chase Sapphire Lounge and Priority Pass access
- DoorDash credits and DashPass membership
Massive Changes to Multipliers & Redemptions
Earning Points
Final Numbers
This replaces the old 3x on all travel and dining worldwide — a significant downgrade for everyday spending outside the Chase portal.
Redeeming Points
- The flat 1.5 cpp redemption through the Chase Travel portal is being retired.
- New "Point Boost" feature: redeem for up to 2.0 cpp on select premium flights and hotels (including The Edit properties).
- Anything not qualifying for a Point Boost drops to a standard 1.0 cpp.
- Existing cardholders keep the 1.5 cpp flat rate until October 26, 2027.
Perks for Heavy Spenders ($75k+ annually)
- IHG One Rewards Diamond Elite Status
- $500 Southwest Airlines credit
- A-List Elite Status with Southwest Airlines
- $250 statement credit when shopping at Chase
Is It Worth $795?
The loss of the broad 3x travel and dining multipliers is going to hurt a lot of wallets — for many, that alone will be a dealbreaker. But the math isn't entirely terrible if your lifestyle aligns with the new credits.
Quick Math
The $300 travel credit brings your effective fee to $495. If you naturally attend a few concerts or events per year, the StubHub credit covers most of the rest. The card essentially pays for itself if you can realistically use three or four of the new credits.
The key questions are whether The Edit property footprint covers hotels you'd actually book, and whether the high-end dining credit applies to restaurants in your city. Use the Find a Card tool to compare premium travel cards side by side.
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