You are currently viewing Chase Announces Annual Fee Increase to Its Sapphire Reserve Credit Card

The price jump is part of an ongoing shift for credit card companies and airlines toward premium rewards and high-end travelers.

Chase, the largest U.S. credit card issuer, announced major changes on Tuesday to its Chase Sapphire Reserve card, popular among points enthusiasts and high-end reward travelers, and unveiled a Sapphire Reserve for Business card that offers a new tier of premium perks for customers who spend at least $120,000 a year.

Sapphire Reserve customers will see an expansion of benefits in the usual categories — dining, hotel and lifestyle credits — but also a heftier annual fee: $795 per year, up from $550, which surpasses annual fees for other premium travel cards from companies like American Express. (On Monday, American Express announced its own plans to update its premium cards, with details to come later this year.)

Secondary cardholders, known as authorized users, will also see a higher annual fee of $195,

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