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Chase's Sapphire Reserve Jumps to $795 as AmEx Prepares Biggest Ever Platinum Overhaul

Credit card issuers are embracing a subscription model by boosting annual fees to fund richer travel, dining and lifestyle perks in response to eroding reward-point values.

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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 45% to $795 and will activate over $2,700 in annual benefits on June 23.
  • New Chase perks include double point redemption for select travel, a $500 hotel credit, $300 dining credit at exclusive restaurants, $300 credit for StubHub or Viagogo, and subscriptions to Apple TV+ and Apple Music.
  • Chase introduced a Sapphire Reserve business card with the same $795 fee and added credits for ZipRecruiter and Google Workspace aimed at small-business owners.
  • American Express confirmed a fall rollout of its largest-ever Platinum card refresh, promising enhanced travel, dining and lifestyle benefits alongside anticipated fee adjustments.
  • Both issuers are expanding airport lounge access—AmEx plans new Centurion lounges in Newark, Tokyo and Salt Lake City—to retain high-spending millennials and Gen Z customers as reward-point values decline.