JPMorgan Chase Elevates Sapphire Reserve Card with New Perks Despite Fee Increase

JPMorgan Chase is enhancing its Sapphire Reserve card with a variety of enticing new perks in a bid to retain wealthy American cardholders, even while the annual fee sees a significant increase. Announced on Tuesday, the premium credit card will now come with a $795 annual fee, which marks a 45% rise—a record uptick since the card’s debut in 2016. However, with these changes, JPMorgan promises over $2,700 in annual perks available to users starting from June 23.

The updated card will include most of the existing benefits, expanded with new features focusing on how customers accrue and utilize points for travel and dining. One highlight is a new redemption program that doubles the points’ value for select travel offers. Additionally, cardholders can enjoy a $500 annual credit at participating hotels and resorts, enhancing their travel experiences significantly. Furthermore, there’s a $300 dining credit specifically at restaurants within the Sapphire Reserve Exclusive Tables network, alongside a $300 credit for purchases on StubHub or Viagogo. To top it off, free subscriptions to Apple TV+ and Apple Music, valued at $250 per year, are also part of the package.

For customers spending at least $75,000 annually with their cards, even more exclusive benefits are available. This includes premier status with Southwest Airlines and IHG Hotels and Resorts. Moreover, JPMorgan is launching a Sapphire Reserve business card, which also has a $795 annual fee and provides similar benefits as the consumer card. This new business card additionally offers credits for services like ZipRecruiter and Google Workspace, making it an attractive option for business professionals.