Chase Refreshes Sapphire Preferred and Reserve Credit Cards

Asian woman using smartphone and looking away while enjoying a day shopping

At Experian, one of our priorities is consumer credit and finance education. This post may contain links and references to one or more of our partners, but we provide an objective view to help you make the best decisions. For more information, see our Editorial Policy.

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.

New categories:

  • 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

Existing categories:

  • 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.

New categories:

  • 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

Existing categories:

  • 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.

The purpose of this question submission tool is to provide general education on credit reporting. The Ask Experian team cannot respond to each question individually. However, if your question is of interest to a wide audience of consumers, the Experian team may include it in a future post and may also share responses in its social media outreach. If you have a question, others likely have the same question, too. By sharing your questions and our answers, we can help others as well.

Personal credit report disputes cannot be submitted through Ask Experian. To dispute information in your personal credit report, simply follow the instructions provided with it. Your personal credit report includes appropriate contact information including a website address, toll-free telephone number and mailing address.

To submit a dispute online visit Experian's Dispute Center. If you have a current copy of your personal credit report, simply enter the report number where indicated, and follow the instructions provided. If you do not have a current personal report, Experian will provide a free copy when you submit the information requested. Additionally, you may obtain a free copy of your report once a week through April 2022 at AnnualCreditReport.