Chase Announces Several Additions to the Sapphire Preferred and Sapphire Reserve Cards!

The Chase Sapphire Preferred® Card and Chase Sapphire Reserve® cards received a host of new features and benefits!

Plus, Chase also announced three locations for its new Chase Sapphire Lounge by The Club!

But don’t worry: Chase said this morning that annual fees will not be affected.

(All information about the Chase Sapphire Preferred® Card and Chase Sapphire Reserve® was collected independently by Eye of the Flyer. It was neither provided nor reviewed by the card issuer.)

Chase Sapphire Preferred® Card Changes

Here are the changes:

• 10% Anniversary Point Bonus
  • “Each account anniversary, cardmembers will earn bonus points equal to 10% of total purchases made the previous year,” Chase explained. “That means, $25,000 in spend will earn an additional 2,500 bonus points.”
• 5X total points on all travel purchased through Chase Ultimate Rewards®
• 3X (up from 2X) on dining, including eligible delivery services, takeout, and dining out
• 3X on select streaming services
• 3X on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
• $50 annual credit on hotel stays purchased through Ultimate Rewards
  • This credit is available for new cardholders. But existing cardholders can’t take advantage of it until their next anniversary year.

Existing Chase Sapphire Preferred® Card benefits and features remaining in place are:

• Earn 5X points on Lyft through September 2027.
• Earn 2X points per dollar spent on travel purchases.
• Receive unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass (DoorDash‘s subscription service). Activate by December 31, 2027.
• Redeem points for 1.25 cents each on travel booked through Chase. (So 100,000 points are potentially worth $1250 of travel.)
• Redeem points for a statement credit
• Visa Signature benefits
• $95 annual fee

Depending on how much you spend each year, the 10% Anniversary Bonus and $50 credit could all but cover the $95 annual fee — or some very close.

Oh, and the card is getting a new design.

Chase Sapphire Reserve® Changes

The Chase Sapphire Reserve® card’s changes aren’t as seismic as its Preferred cousin. Cardholders are basically encouraged to buy stuff through Ultimate Rewards.

But airport lounge access is enhanced (in a good way).

• 10X total points on Chase Dining purchases through Ultimate Rewards
• 10X on hotel stays and car rentals purchased through Ultimate Rewards
• 5X on air travel purchased through Ultimate Rewards
• Complimentary access to the Chase Sapphire Lounge by The Club

The Chase Sapphire Reserve® is also adding some experience-oriented benefits.

“In addition to earning points, later this year Reserve cardmembers will have access to ‘Reserved by Sapphire,'” Chase said, “featuring exclusive opportunities to book reservations at some of the most sought-after restaurants across the country, including Canlis in Seattle, WA, Redbird in Los Angeles, CA, SingleThread Farms in Healdsburg, CA, Reverence in New York, NY and One Off Hospitality in Chicago.”

Not sure how much I’ll use that but OK!

The card’s existing earning structure and benefits remain the same.

• $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year. Good for purchases such as airfare, hotels, parking, rideshare, tolls, and more!
• 10X on Lyft rides (through March 2025)
• 3X points on travel worldwide (immediately after earning your $300 travel credit.)
• 3X points on dining worldwide
• Access to almost 1200 airport lounges worldwide with a complimentary Priority Pass Select membership (Enrollment required)
• Complimentary Lyft Pink membership (through March 2025, enrollment required).
• $100 application fee credit for Global Entry or TSA Pre✔®
• $550 annual fee

Chase Sapphire Lounge by The Club Locations

Chase Sapphire Reserve® members will receive admission to the new Chase Sapphire Lounge by The Club.

• New York LaGuardia Airport (LGA)
• Boston Logan International Airport (BOS)
• Hong Kong International Airport (HKG) Terminal 1

Opening dates have not yet been announced.

Final Approach

Cardholders of the Chase Sapphire Preferred® Card and Chase Sapphire Reserve® will enjoy a host of new benefits in the next week. The Chase Sapphire Preferred® Card‘s new features are clearly better for most people — especially given that its $95 annual fee is not affected.

The biggest improvement, I think, to the Chase Sapphire Reserve® is the addition of three Chase Sapphire Lounge by The Club locations.

It may be tempting to cancel a Chase Sapphire Reserve® card and get the Chase Sapphire Preferred® Card instead (if you’re eligible for the welcome bonus). What will you do? What do you think of the changes? Please share your thoughts in the below Comments section!