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2mo ago

Chase Raises Sapphire Reserve Fee to $795; AmEx Eyes Major Platinum Refresh

Designed to lock in affluent spenders, the update comes ahead of an American Express Platinum card overhaul scheduled for the fall.

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File photo: an American Express card.
Amex is meeting younger cardmembers where they want to be—like at a Coachella party in Palm Springs in 2025.
Carrying at Sapphire Reserve card in your wallet is going to cost a lot more soon.

Overview

  • JPMorgan Chase raised the Sapphire Reserve annual fee from $550 to $795—a 45% increase—for new applicants on June 23 and existing cardholders starting October 26.
  • The revamped Reserve offers over $2,700 in annual benefits, including a $500 hotel credit, $300 dining credit, $300 StubHub or Viagogo credit and complimentary Apple TV+ and Apple Music subscriptions.
  • Additional perks include doubled point values on select travel redemptions, a $300 annual travel credit, and elite status at Southwest Airlines and IHG Hotels for cardholders who spend at least $75,000 yearly.
  • JPMorgan also launched a Sapphire Reserve business card with the same $795 fee, mirroring consumer perks and adding credits for ZipRecruiter and Google Workspace.
  • American Express has confirmed plans for its largest-ever Platinum card refresh later this year, promising revamped travel, dining and lifestyle benefits.