Chase is hiking the annual fee for its Sapphire Reserve credit card to $795, starting June 23 for new applicants and October 26 for existing users. The card will offer expanded points-earning and statement credits, but some users question if the perks justify the price.
Critics argue cheaper alternatives like the $95 Sapphire Preferred may now offer better value, especially as airport lounge access—once a major draw—becomes less appealing due to rising fees and perk restrictions. Some benefits will only apply to purchases made directly through Chase.
The fee increase pits the Reserve against Amex’s Platinum card, which costs $695. American Express is also planning updates but hasn’t revealed details.
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