Chase Sapphire Reserve Business Coming

Chase finally confirmed the worst kept secret in miles and points, that the Chase Sapphire Reserve will be getting a refresh. They also announced something that was less predicted, that a Chase Sapphire Reserve Business card is coming. When talking about rumors people usually get some things right, but also get many things wrong. Heck, the rumors could be 100% accurate at the time and then the bank pivots last minute. Anyone else have Ross' voice in their head yelling pivot right now? Just me? Well, we no longer have to guess what everything will look like, since we now have all of the details.

New Details For Sapphire Reserve Business & Sapphire Reserve Personal

Here is what the new card and complete refresh will look like starting June 23rd:

Chase Sapphire Reserve

Annual Fee

• $795 annual fee (increase from $550)
  • It should also be noted that the fee to add an authorized user will be increasing from $75 per user to $195 per user as well.

The annual fee increase will go into effect for current cardholders starting on their next annual fee posting AFTER October 26, 2025. So if your annual fee posts in July or August etc. you will still pay the lower fee. Most of the new perks will kick in starting October 26, 2025 for cardholders prior to June 23rd.

Earning Structure

• 8x on Chase travel bookings
• 5x on Lyft rides (through 9/30/27)
• 4x on hotels & flights booked directly
• 3x on dining
• 1x on everything else

These earning rates will not go into effect until October 26, 2025 for any cardholders that had the Sapphire Reserve prior to June 23rd.

Card Features That Are Staying

Here are some of the main card perks that are staying. The lounge access and Global Entry etc. credit will also be business as usual.

• $300 annual travel credit is here to stay
  • Works for pretty much any travel charge on your credit card
• DashPass+ Membership
  • Get a 12 month membership for free (must activate by 12/31/27)
• DoorDash Credits
  • $5 monthly towards a restaurant order
  • $10 x2 monthly for non-restaurant orders
• Lyft Credits
  • $10 monthly discounts on rides

I know people were thinking the travel credit was going away, so it is good to see that one sticking around.

New Card Features

Here are the new card features you will see on the Sapphire Reserve with the increased annual fee

• Points boost program for portal bookings.
  • Select options will be worth up to 2 cents per point, similar to their recent portal promo.
  • The guaranteed 1.5 cents per point portal redemption will be gone
  • Current cardholders will get 1.5 cents in the portal on all points earned (or transferred in) prior to October 25th.
    • Cardholders before June 23rd will also get access to points boost program and will either get the 1.5 cents per points or points boost for portal bookings. Whichever option is more valuable will automatically apply.
• Sapphire Reserve Exclusive Tables $300 dining credit at restaurants that are a part of the network
  • This will be $150 every 6 months
  • It will be for expensive restaurants in select cities at this point
• $300 credit at StubHub or Viagogo
  • This will be $150 every 6 months
• Apple TV+ subscription
  • Current cost is $9.99 a month
• Apple Music subscription
  • Current cost is $10.99 a month
• Customers who spend $75,000+ per year get the following perks
  • $500 Southwest credit, but must be booked through Chase Travel
  • IHG Diamond Elite Status
  • Southwest Airlines A-List status
  • $250 to spend at The Shops at Chase
• $500 Edit Credit
  • Get up to $250 in statement credits every 6 months
  • Looks like a program similar to Amex FHR.
  • There is a 2 night minimum required
• Peleton Credit
  • Up to $10 per month back on following apps or memberships through 12/31/27
    • Peloton All-Access Membership
    • Rental
    • App+
    • Guide
    • App One
    • Strength+

A lot of the value here is tied up in some Chase dining and hotel partnerships. I don't know that they will be the easiest to use / gain value from. The StubHub credit should be an easier one to maximize for many.

Chase Sapphire Reserve Business

There are a lot of similarities for the Chase Sapphire Reserve Business and personal card. They do have a few areas where they differ though.

Annual Fee

• $795 annual fee

The annual fees are the same between the two cards. One noticeable difference is that there is no fee for additional cardholders, where there will be a fee of $195 per authorized user on the Sapphire Reserve.

Earning Structure

• 8x on Chase travel bookings
• 5x on Lyft rides (through 9/30/27)
• 4x on hotels & flights booked directly
• 3x on advertising on social media and search engines
• 1x on everything else

The noticeable difference from the personal card is the 3x earning category. It is for dining on the personal card and for social media / online advertising on the business card. The really cool thing about this category is that it is uncapped. That could be a big deciding factor for many businesses.

Card Perks

Here are the notable perks for the Chase Sapphire Business card. They have a lot of similarities to the refreshed Sapphire Reserve. The business card should have all of the same lounge access perks too.

• $300 annual travel credit
• Points boost program for portal bookings.
  • Select options will be worth up to 2 cents per point, similar their recent portal promo.
• Customers who spend $120,000+ per year get the following perks
  • $500 Southwest credit, but must be booked through Chase Travel
  • IHG Diamond Elite Status
  • Southwest Airlines A-List status
  • $500 to spend at The Shops at Chase
• $500 Edit Credit
  • Get up to $250 in statement credits every 6 months
  • Looks like a program similar to Amex FHR.
  • There is a 2 night minimum required
• $400 annual ZipRecruiter credit
  • This will be $250 every 6 months
• $200 Google Workspace credit
  • This is an annual credit
• $100 Giftcards.com credit
  • This will be $50 every 6 months
• DashPass+ Membership
  • Get a 12 month membership for free
• DoorDash Credits
  • $5 monthly towards a restaurant order
  • $10 x2 monthly for non-restaurant orders
• Lyft Credits
  • Up to $10 per month off of rides
• $120 Credit towards the following every 4 years
  • Global Entry
  • TSA PreCheck
  • NEXUS

A lot of overlap, but there are some differences in the bigger credits. Which card works better as your premium card of choice will depend on what credits fit your needs better.

Sapphire Reserve Refresh: ToP Thoughts

The missing key to this equation is what the new welcome offers will look like for these. I think that they will be large, like 150K – 200K, in order to kick these cards off with a bang. I also think it will be a necessity, because I don't think there is guaranteed value in these cards overall. When the Sapphire Reserve launched there was a ton of value in the card at $450 per year. It was a great option even without the 100K welcome offer. In fact, it was so popular that Chase lost money on the card for years. Maybe they are looking to not have history repeat itself with this refresh and new card launch. Because with these changes I could see a ton of people downgrading their Sapphire Reserve to the Sapphire Preferred in the next year or so. In the meantime you might as well get your cake and get to eat it too. The other question is should you upgrade your Sapphire Preferred to the Reserve to double dip the perks? More on that in a future article though.

Let me know what you think about these new cards coming in the next few weeks over in the ToP Facebook Group.

View this post on Instagram

A post shared by Chase Sapphire (@chasesapphire)

View this post on Instagram

A post shared by Chase Sapphire (@chasesapphire)