A long-awaited overhaul to the premium Chase Sapphire Reserve® (see rates and fees) has officially arrived — and with a limited-time, best-ever welcome offer: New Sapphire Reserve cardholders can earn 100,000 points and a $500 Chase Travel℠ credit after spending $5,000 in the first three months. Notably, the annual fee has also increased to $795 (previously $550). There are new statement credits and perks, along with changes to the earning structure that will affect how you can get the most value out of your card. Plus, a refreshed card design. With its updated benefits, the revamped Sapphire Reserve is said to offer more than $2,700 in annual value — ideally offsetting the high annual fee, if you use all the credits and benefits. Let’s dive into all the details on the Sapphire Reserve’s overhaul.

Chase Sapphire Reserve® CNBC Select Rating 5.0 Learn More On Chase’s site CNBC Select Rating 5.0 Learn More On Chase’s site Spotlight Get more than $2,700 in annual value with Sapphire Reserve. Credit score Excellent 740–850 Regular APR 20.24% – 28.74% variable Annual fee $795 Welcome bonus Earn 100,000 bonus points + $500 Chase TravelSM promo credit See rates and fees. Terms apply. Member FDIC. Read our Chase Sapphire Reserve® review. Our expert take The Chase Sapphire Reserve® is a standout premium credit card with plenty of luxury perks and statement credits to justify its annual fee. Pros & cons Access over 1,300 airport lounges worldwide with a complimentary Priority PassTM Select membership, plus every Chase Sapphire Lounge® by The Club with two guests.

Up to $300 in annual travel credit each account anniversary year

You can transfer rewards to all of Chase’s travel partners including World of Hyatt, Southwest Rapid Rewards and many more

Top-tier travel and shopping protections High annual fee

Requires a high credit score More details Highlights Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff. Earn 100,000 bonus points + $500 Chase Travel SM promo credit after you spend $5,000 on purchases in the first 3 months from account opening.

promo credit after you spend $5,000 on purchases in the first 3 months from account opening. Get more than $2,700 in annual value with Sapphire Reserve.

Earn 8x points on all purchases through Chase Travel SM , including The Edit SM and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases

, including The Edit and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.

Access over 1,300 airport lounges worldwide with a complimentary Priority Pass TM Select membership, plus every Chase Sapphire Lounge ® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck ® every 4 years

Select membership, plus every Chase Sapphire Lounge by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck every 4 years Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.

Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.

Get complimentary Apple TV+, the exclusive streaming home of Apple Originals. Plus Apple Music — all the music you love, across all your devices. Subscriptions run through 6/22/27 — a value of $250 annually

Member FDIC Balance transfer fee Either $5 or 5% of the amount of each balance transfer, whichever is greater

Limited-time welcome bonus

For a limited time, new Chase Sapphire Reserve cardmembers can earn 100,000 points and a $500 Chase Travel credit after spending $5,000 in the first three months. The Sapphire Reserve first launched in 2016 with a 100K-point welcome offer, but the $500 travel credit is a big addition and definitely makes the card worth it.

Annual and authorized user fees

The overhauled Chase Sapphire Reserve annual fee is $795, up from $550. Authorized users can be added for $195 per person, up from $75 each, and will also receive complimentary access to the Priority Pass lounges, a feature that other cards have been removing. The card changes are active for new cardholders who apply and are approved on or after June 23. Sapphire Reserve cardholders pre-June 23 will be charged the new annual fee on their next card renewal on or after Oct. 26, 2025.

Statement credits

The revamp of the Chase Sapphire Reserve comes with a bunch more statement credits, plus perks like complimentary hotel elite status — notably all at the cost of a $245 increase in the annual fee. What’s new Up to $500 annual credit for stays with The Edit by Chase Travel, a selection of luxury hotels and resorts (split biannually)

Up to $300 annual StubHub and viagogo credit for concerts or events (split biannually)

Up to $300 annual dining credit and reservations via Sapphire Reserve Exclusive Tables (split biannually)

Up to $300 annual DoorDash value through promos*

Up to $250 annual value through complimentary Apple TV+ and Apple Music subscriptions (must be activated separately)

Up to $120 annual credit for Peloton memberships through Dec. 31, 2027

Up to $120 as a complimentary DoorDash DashPass membership (must activate by Dec. 31, 2027)

Up to $120 annual Lyft in-app credits

Complimentary IHG One Rewards Platinum Elite Status When using your credit at The Edit properties, cardmembers who stay at least two nights will also get complimentary benefits like a $100 property credit, daily breakfast and room upgrades when available. Purchases that qualify will not earn points. With the refreshed Sapphire Reserve, new perks that cardholders can unlock after spending $75,000 on the card in a calendar year include: IHG One Rewards Diamond Elite Status

Southwest Rapid Rewards A-List Status

$500 Southwest Airlines credit when booked through Chase Travel (for Southwest Airlines flights booked through Chase Travel each calendar year)

$250 credit for The Shops at Chase, a new online shopping experience for cardholders that includes brands such as Dyson, Sony and Tumi *DashPass members get access to up to $25 in monthly promos, which includes a $5 restaurant promo and two $10 promos to spend on groceries, beauty, electronics and more. These promos must be applied at checkout when placing an order on DoorDash with the use of a Sapphire Reserve card enrolled in DashPass. If a promo is not used (applied to an order) each month, it will not carry over to the next month. What’s staying the same $300 annual travel credit

$120 Global Entry, TSA Precheck or Nexus credit every four years

Complimentary airport lounge access with up to two complimentary guests

Comprehensive travel protections, including trip delay reimbursement and auto rental coverage

Complimentary access to Reserve Travel Designers, an end-to-end travel planning service

Earning rates and Points Boost

Chase has adjusted how cardholders earn points while spending on their Chase Sapphire Reserve. New bonus earning rates Earn 8X points on flights, hotels and rental cars booked through Chase Travel (previously 5X points, 10X points and 10X points, respectively)

Earn 4X points on flights and rooms booked directly with airlines and hotels (previously 3X points)

Earn 1X points on all other travel, including transit, vacation rentals and cruises (previously 3X points) We’re loving the first two changes, but the third came as a bit of a shock. Previously, the 3X points on all travel purchases had great flexibility as it included spending on subways, parking costs, road tolls, vacation homes, cruises and more. Bonus earning rates staying the same Earn 3X points on dining

Earn 5X points on eligible Lyft rides

Earn 10X points on eligible Peloton purchases Points Boost Replacing the 50% redemption boost through the Chase Travel portal is a new points accelerator program called Points Boost. Points Boost will allow eligible cardmembers to redeem their Ultimate Rewards® points for up to 2X value when booking select airlines and hotels through Chase Travel. Otherwise, it’s a fixed 1 cent per point. If you were a Sapphire Reserve cardholder before June 23, any points earned prior to Oct. 26, 2025, can still be redeemed for either 1.5 cents per point or for 2 cents per point through Points Boost, up to two years (Oct. 26, 2027).

Alternative travel cards to consider

Beyond the Chase Sapphire Reserve, other premium travel cards on the market include those from Amex and Capital One. If you enjoy statement credits but are looking for different partner benefits or transfer partners, The Platinum Card® from American Express could be a good fit. The card comes with over $1,500 in value through partnerships with Uber, Resy, Walmart+ and more. There’s a $695 annual fee. The card comes with elevated hotel status for both Marriott Bonvoy and Hilton Honors, along with access to the American Express Global Lounge Collection, with more than 1,400 airport lounges across 140 countries.

The Platinum Card® from American Express CNBC Select Rating 5.0 Learn More On the American Express site CNBC Select Rating 5.0 Learn More On the American Express site Spotlight The Amex Platinum Card provides access to Amex Centurion Lounges, Delta Sky Clubs® , Lufthansa Lounges, Escape Lounges and more. (Enrollment required) Credit score Good to Excellent 670–850 Regular APR See Pay Over Time APR Annual fee $695 Welcome bonus You may be eligible for as high as 175,000 Membership Rewards® Points See rates and fees, terms apply. Read our Amex Platinum Card review. The Platinum Card® from American Express Welcome Offer: To view your personalized offer, you must first submit an application. If approved, you will: (1) receive your Welcome Offer details, (2) have the option to accept the Card with that offer, (3) be required to spend $8,000 on eligible purchases within the first 6 months of Card Membership, and (4) earn Membership Rewards® points. Welcome offers vary and you may not be eligible for an offer. If you’re approved and accept your offer, a credit check may be conducted, which could impact your credit score. Terms apply. Our expert take The Platinum Card® from American Express is a premium card loaded with annual statement credits, entertainment benefits, extensive airport lounge access, elite status perks and more. (Enrollment required for select benefits mentioned) Pros & cons Access to 1,400+ airport lounges, including Priority Pass™ Select lounges (enrollment required) and Amex Centurion lounges

Statement credit offers worth up to twice what the annual fee costs

Elite status perks for hotels and rental cars (Enrollment required for select benefits mentioned) High annual fee

Many statement credit offers are complicated and are earned in increments or limited to specific purchases More details Highlights Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff. You may be eligible for as high as 175,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.

Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel®.

$200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.

$240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney+ bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.

Enjoy the benefits of the Global Lounge Collection, with over $500 of annual value if you visit Centurion Lounges and each of our partner lounges including Delta Sky Club® lounges when flying an eligible Delta flight (subject to visit limitations) , select Lufthansa lounges when flying Lufthansa, Plaza Premium lounges and Escape Lounges, and enroll in Priority Pass Select. See terms.

A Walmart+ membership can get you free shipping with no order minimum on eligible items shipped by Walmart. Use your Platinum Card® to pay for a monthly Walmart+ membership (subject to auto-renewal) and receive one statement credit for up to $12.95 (plus applicable taxes. Plus Ups not eligible) each month. Free Shipping excludes most Marketplace items, freight & certain location surcharges. Paramount+ Essential plan only, separate registration required.

$200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.

$200 Uber Cash: Platinum Card® Members can ride or dine in style with $15 in Uber Cash each month, plus a bonus $20 in December after adding their Card to their Uber account. Use your Uber Cash on rides and orders in the U.S. when you select an Amex Card for your transaction.

$199 CLEAR® Plus Credit: CLEAR® Plus helps get you to your gate faster by using unique facial attributes to verify you are you at 50+ airports nationwide. Receive up to $199 in statement credits per calendar year after you pay for your CLEAR Plus Membership (subject to auto-renewal) with the Platinum Card®.

Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.

Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That’s up to $50 in statement credits semi-annually. Enrollment required.

Use Global Dining Access by Resy to access premium dining experiences. Receive Priority Notify and unlock insider access to some of the world’s most sought-after restaurants with Global Dining Access by Resy. Download the Resy iOS app or log into Resy.com and add your Platinum Card® to your Resy profile to take advantage of your special benefits and discover restaurants near you.

$695 annual fee.

Terms Apply.

See Rates & Fees Balance transfer fee N/A Foreign transaction fee None

The Capital One Venture X Rewards Credit Card comes with a $395 annual fee, which is on the lower end for a premium credit card. The Venture X offers some similar benefits to the Chase Sapphire Reserve, with a $300 travel credit for purchases made through Capital One Travel and a credit for Global Entry or TSA PreCheck. The card grants access to both Capital One and Priority Pass lounges, plus you’ll earn 2X miles on all purchases outside of the card’s bonus spending categories.

Capital One Venture X Rewards Credit Card CNBC Select Rating 5.0 Learn More CNBC Select Rating 5.0 Learn More Spotlight Earn your rewards in a cryptocurrency of your choice with over 60 to select from. Credit score Excellent 740–850 Regular APR 19.99% – 29.24% variable APR Annual fee $395 Welcome bonus Earn 75,000 bonus miles Terms apply. Read our Capital One Venture X Rewards Credit Card review. Our expert take The Capital One Venture X Rewards Credit Card is a premium credit card with a myriad of benefits and a lower annual fee than other high-end cards with similar features. Pros & cons Annual $300 credit for bookings through Capital One Travel

10,000 bonus miles after every card anniversary

Unlimited complimentary access to 1,300+ airport lounges, including Capital One Lounge locations

Long list of valuable travel and shopping protections, including return protection, rental car coverage and trip delay reimbursement (Benefit(s) only available to accounts approved for the Visa Infinite card. Terms apply.) Limited bonus spending categories compared to other premium credit cards

High annual fee

High credit score requirement (excellent credit) More details Highlights Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff. Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel

Receive a $300 annual credit for bookings through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options

Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary

Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights and vacation rentals booked through Capital One Travel

Earn unlimited 2X miles on all other purchases

Enjoy access to 1,300+ lounges worldwide, including Capital One Lounge locations and Priority Pass™ lounges, after enrollment

Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more. You can even transfer your miles to your choice of 15+ travel loyalty programs

Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection

Receive up to a $120 credit for Global Entry or TSA PreCheck® Balance transfer fee $0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you Foreign transaction fees $0

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