The Chase Sapphire Reserve has introduced new annual credits and features, including memberships to Apple Plus and Apple Music, valued at $250 annually. However, these offerings come with a higher annual fee of $795, which may not appeal to every potential cardholder. Cardholders will now need to be more involved to extract the card’s full value, a task that may not be attractive to the average credit card user.
To justify the card’s cost, one must redeem numerous credits, sign up for several complimentary subscriptions, and stay updated on the best times to use points for travel bookings. For many, this additional work may outweigh the potential benefits. The card’s rewards system has also undergone changes.
It now offers 8x points for travel booked through Chase Travel and 3x points on dining. While these enhancements are positive, the new Points Boost program’s introduction has restructured the value of the points. Previously, points could be redeemed for travel at a bonus value of 1.5 cents per point.
Now, points will earn a 2-cent value only on rotating boosted redemption flights and hotels, and will drop to 1 cent each on non-boosted redemptions.
Chase’s new high-value perks
The card features a more significant welcome offer: 100,000 bonus points and a $500 Chase Travel℠ credit for spending $5,000 in the first three months.
However, the eligibility requirements for earning this bonus have been tightened. Previously attainable every 48 months, welcome bonuses from Sapphire cards can now only be earned once per cardholder lifetime. Additional annual credits have been introduced, including a $500 The Edit℠ credit, a $300 dining credit, a $300 StubHub credit, an Apple Plus and Apple Music membership worth $250 annually, and a $120 Peloton credit.
While these credits could theoretically provide over $2,700 in value, achieving this requires extensive utilization of the card’s perks. With the annual fee now at $795, the Chase Sapphire Reserve stands as one of the most expensive cards on the market. Evaluating whether this card is worthwhile depends largely on one’s travel habits and willingness to navigate the card’s extensive benefits.
For those with substantial travel budgets who are adept at managing multiple benefits, the Chase Sapphire Reserve might offer considerable value. However, the average credit cardholder might not find it worth the extra effort and high fee. For simpler, yet valuable options, the Chase Sapphire Preferred at $95 annually might present a more manageable and rewarding choice.
