After months of hypothesis, we now know what the long-rumored adjustments to the Chase Sapphire Reserve® will appear to be. As of June 23, the cardboard is getting a full overhaul, full with a slew of latest assertion credit, some adjustments to the incomes and redemption charges and, sadly, a considerably increased annual charge.
Every time an issuer broadcasts a significant change like this, we nearly all the time see a knee-jerk response from sad current cardholders: “That is it, I am canceling my card, instantly!”
Nonetheless, do not bounce to such a rash resolution. Even in the event you’re sad with the Sapphire Reserve adjustments to come back, there are some compelling causes to take a seat tight.
This is why.
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The Chase Sapphire annual charge hike is not rapid
For starters, your card’s annual charge won’t change instantly. The Credit score Card Accountability Accountability and Disclosure Act of 2009 requires issuers to present clients at the least 45 days of discover earlier than making a big change to an current product, together with a change in charges.
Because of this, you are not instantly chargeable for the next out-of-pocket price than what you paid at your final renewal. In actual fact, sure clients could possibly take pleasure in one other yr on the present charge.
In case your renewal date is earlier than Oct. 26, you must see the $550 annual charge submit to your account, per the next assertion we obtained from a Chase consultant:
Cardmembers’ annual charge will alter on their annual charge anniversary date following October 26, 2025.
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For instance, in case your anniversary date is Sept. 15 annually, you may hit your renewal previous to that date. Should you really feel like the present worth proposition on the cardboard remains to be value that $550, there is not any purpose to cancel proper now.
(It is value noting that the Sapphire Reserve first launched in August 2016, so unique candidates who acquired the cardboard within the first few weeks — and nonetheless have it — fall into this class.)
However even when your annual charge is not due within the subsequent few months, there’s one more reason to attend.
A lot of the new advantages begin Oct. 26
As we lined in our announcement submit, current cardholders will instantly achieve entry to the brand new Factors Increase redemptions as of June 23. The remainder of the brand new advantages will kick in Oct. 26. So long as your annual charge is not due proper round that point, you may have a window to check the brand new advantages earlier than being hit with the upper ($795) annual charge.
As an instance your annual charge will not hit your account till Could 1 of subsequent yr. You may nonetheless achieve entry to the brand new advantages as of Oct. 26, however you will not begin paying for them till subsequent Could. That offers you a ton of time to see in the event you can truly use the assertion credit.
For instance, you may quickly be capable to earn as much as $500 a yr in assertion credit for pay as you go bookings with The Edit by Chase Journey℠, a curated assortment of luxurious accommodations (two-night minimal keep required). That is damaged down into biannual credit: $250 from January to June and one other $250 from July to December. This implies you may e book an eligible two-night keep after Oct. 26 however earlier than the top of the yr. Then, you may e book one other eligible keep within the first half of 2026.
When your annual charge comes due, you may then crunch the numbers and see in the event you’ve unlocked sufficient worth to justify the upper price. If not, you’ll be able to cancel (or downgrade) at the moment. Should you cancel or downgrade your card now, you may miss out on the brand new advantages totally.
Lastly, it is value noting that Chase usually will not refund you in your card’s annual charge until you cancel inside 30 days of it posting. So, do not suppose you can get a prorated refund in the event you cancel or downgrade your Sapphire Reserve partway by way of your membership yr.
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Backside line
The Chase Sapphire Reserve is getting a big makeover as of June 23, although current cardmembers will not achieve entry to most of these advantages till Oct. 26. That is additionally once you’ll begin seeing the elevated annual charge.
Provided that, there is not any purpose to cancel or downgrade your card right this moment, irrespective of how upset you’re with the adjustments.
Our recommendation is easy: Wait till the upper annual charge posts — whether or not that is in a few months or someday subsequent yr. You could possibly take pleasure in just a few months and even near a yr of the brand new advantages with no increased price. Then, and solely then, do you have to make the choice on whether or not to maintain, cancel or downgrade to a lower-fee product.
