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Chase just refreshed its popular Chase Sapphire Preferred® Card and Chase Sapphire Reserve®, introducing new ways for card members to maximize rewards. You can start earning elevated rewards on eligible travel, dining, grocery and streaming service purchases, depending on the card.
And the best part about these updates? The annual fees will remain the same. That means the Chase Sapphire Preferred® Card still has a $95 annual fee and the Chase Sapphire Reserve® has a $550 annual fee.
Here's how you can start benefiting from the new features of these cards.
New Chase Sapphire Preferred® Card Benefits
New and existing Chase Sapphire Preferred® Card users can benefit from higher earning potential on dining and select travel purchases, plus the addition of online grocery and streaming service categories. Here's a look at the card's new rewards details.
- 5 points per dollar spent on all travel purchased through Chase Ultimate Rewards
- 3 points per dollar spent on select streaming services
- 3 points per dollar spent on online grocery purchases, excluding Target, Walmart and wholesale clubs
- 3 points per dollar spent on dining, including eligible delivery services, takeout and dining out (up from 2 points per dollar)
- 2 points per dollar spent on travel outside of Chase Ultimate Rewards (unchanged)
If those updates alone aren't intriguing enough, there are two other additions that can further help you offset the card's $95 annual fee.
You can earn an annual $50 credit on hotel stays that you purchase through the Chase Ultimate Rewards portal. This is the only benefit that existing cardholders will have to wait to use until after their next account anniversary. Meanwhile, new cardholders can instantly use the credit.
Another noteworthy feature is the 10% anniversary point bonus. Every account anniversary, you will earn bonus points equal to 10% of total purchases made the previous year. So if you spent $25,000 in a year, you'd earn an additional 2,500 points. This is a helpful way to automatically earn extra rewards without doing any work beyond your normal spending.
All of these benefits are in addition to the existing perks, including no foreign transaction fees and a generous 100,000-point intro bonus. New cardholders can earn the intro bonus after spending $4,000 on purchases in the first 3 months from account opening.
New Chase Sapphire Reserve® Benefits
New and existing Chase Sapphire Reserve® members can benefit from earning more points on eligible travel. Here's a look at the card's new rewards details.
- 10 points per dollar spent on Chase Dining purchases through Chase Ultimate Rewards
- 10 points per dollar spent on hotel stays and car rentals purchased through Chase Ultimate Rewards
- 5 points per dollar spent on air travel purchased through Chase Ultimate Rewards
- 3 points per dollar spent on dining (unchanged)
- 3 points per dollar spent on travel outside of Chase Ultimate Rewards (unchanged)
These rewards program changes are in addition to the ongoing annual $300 travel credit and 60,000-point intro bonus that you can earn after spending $4,000 on purchases in the first 3 months from account opening.
Beyond rewards, there's a food-centric perk to look forward to later this year: Chase Sapphire Reserve® members will have access to "Reserved by Sapphire," which will feature the opportunity to book reservations at popular restaurants across the country.
Additionally, you will be able to access the newly announced Chase Sapphire Lounge by The Club airport lounges. Opening dates and locations will be announced over time, but currently are slated to include New York's LaGuardia Airport, Boston's Logan International Airport and Hong Kong International Airport.
Should You Open a Chase Sapphire Credit Card?
Chase's new additions to the Chase Sapphire Preferred® Card and Chase Sapphire Reserve® make these cards a great addition to your wallet. The new benefits add even more flexibility to the rewards program, meeting consumers' desire for elevated rewards both at home and on the go.
The best Sapphire card for you depends on your budget and what you plan to use the card for. The Chase Sapphire Preferred® Card is a great entryway into the Sapphire product line, especially with its strong rewards program and reasonable $95 annual fee.
If you're a more frequent traveler, consider the higher-end Chase Sapphire Reserve®. While the card has a significantly higher $550 annual fee, you can benefit from an even wider range of perks, like the annual $300 travel credit and lounge access with Priority Pass Select membership.Before you apply for either card, check your FICO® Score☉ for free. This can help you gauge your likelihood of qualifying for the cards, since the Chase Sapphire Reserve® requires good to excellent credit and the Chase Sapphire Reserve® excellent credit.