As of the start of the New Year, Chase added some even better perks, but with it comes a higher annual fee as well as a few other changes.
Chase Sapphire Reserve Changes
The most notable changes on the Chase Sapphire Reserve Credit card include:
- 10 x points up from 3 x points on all Lyft rides
- Free Lyft Pink membership (a $19.99 per month savings) and includes 15% off rides and rentals, cancellation flexibility, and priority airport pickups
- Free DashPass subscription from DoorDash
- Up to $120 in DoorDash credits ($60 in 2020 and $60 in 2021)
These benefits are in addition to the existing benefits, such as:
- Up to $300 credit per year for travel expenses charged on your Chase Sapphire card
- 3 x points on travel and dining
- No foreign transaction fees
- 50,000 bonus points after spending $4,000 in the first three months of card opening
- Trip cancellation protection
- Lost luggage reimbursement
- Purchase protection
- TSA Pre Check credit
- Free airport lounge access
The Updated Fees
The bad news is that the fees are going up for the Chase Sapphire Reserve card. The annual fee will increase by $100 from $450 to $550. Current members that renew prior to April 1, 2020 will be able to renew at the $450, but anyone renewing after April 1 or getting the card for the first time will pay the updated $550.
Chase Sapphire Reserve Alternatives
Chase Sapphire Reserve does offer a large variety of benefits, but if the annual fee is a bit steep for your liking, try one of the alternatives below:
- The Platinum Card from American Express – With a similar annual fee of $550, the AMEX offers 5 x points on airline purchases (direct through airline) and hotel bookings through AmexTrave.com and 1 x points on all other purchases. AMEX offers a $200 annual travel credit, airline lounge access, and automatic gold status if you stay at Hilton or Starwood hotels. AMEX offers 60,000 bonus points if you spend $5,000 in the first three months.
- Citi Prestige card – With an annual fee of $450, and 5 x points on air, travel and dining and 3 x points on cruises, Citi offers a decent value. Citi holders get a $250 travel credit each year, Priority Pass Select membership for lounge access, and you get 40,000 points if you spend $4,000 within three months of opening the card. You also get your fourth night free at any hotel twice a year.
The Chase Sapphire Reserve card did change some of its benefits and definitely its fees, but it’s still a valuable card for travelers. If you’re already a member, it makes sense to renew before the fees go up, saving yourself an extra $100 this year.