If there’s one credit card that seems to ‘have it all’ it’s the Chase Sapphire Reserve credit card.
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.