Chase Sapphire Reserve 2025: 100,000 Point Bonus, Higher Fees & What Changed

The Chase Sapphire Reserve, once the undisputed king of premium travel cards, just underwent its biggest transformation since launching in 2016. The changes are dramatic: a hefty fee increase, a complete overhaul of how you earn and redeem points, and a shift from simple benefits to a complex "coupon book" of credits. Here's everything you need to know.

The Big Changes at a Glance

What's New:

• Annual fee jumps from $550 to $795 (45% increase)
• Authorized user fee more than doubles to $195
• Massive sign-up bonus: 100,000 points + $500 travel credit
• New earning structure heavily favors Chase's travel portal
• Multiple new credits totaling over $1,500 in potential value

The Record-Breaking Sign-Up Bonus

Chase is launching the revamped card with what they're calling their "best offer ever":

• 100,000 Ultimate Rewards points
• $500 Chase Travel credit (one-time use)
• Requirement: $5,000 spending in first 3 months

Bottom line: This bonus is worth approximately $2,500 when used strategically, making it one of the most valuable credit card offers currently available.

How Your Rewards Earning Changed

The Winners:

• Chase Travel Portal bookings: Now earn 8x points (up from 5x for flights)
• Direct airline/hotel bookings: Earn 4x points (up from 3x)

The Big Loser:

The beloved 3x points on all travel purchases is gone. This means:

• Uber/Lyft rides: 1x points (down from 3x)
• Airbnb rentals: 1x points (down from 3x)
• Parking and tolls: 1x points (down from 3x)
• Third-party booking sites: 1x points (down from 3x)

What this means: The card now heavily pushes you toward Chase's own travel portal and direct bookings with airlines/hotels.

The New "Coupon Book" Model

Instead of simple, automatic benefits, the new card operates more like a collection of credits you need to actively manage:

The Major Credits:

• $300 Annual Travel Credit (unchanged—still automatic and flexible)
• $500 Hotel Credit for "The Edit" luxury hotels (split into two $250 semi-annual credits)
• $300 Dining Credit for select restaurants (two $150 credits)
• $300 StubHub Credit for event tickets (two $150 credits)
• $250 Apple Credit (free Apple TV+ and Apple Music subscriptions)
• $120 Peloton Credit ($10 monthly credits)

The Catch:

Most credits have restrictions:

• Must be used within specific 6-month windows
• Require minimum purchases or stays
• Only work with specific partners
• Need manual activation

Points Redemption: From Guaranteed to Variable

The Old Way: Every point was worth 1.5 cents when booking travel through Chase The New Way: Base redemption drops to 1 cent, but select bookings offer up to 2 cents through "Points Boost"

What this means: Your points' value is now less predictable and depends on finding eligible "boosted" deals.

Who Should Get This Card?

Perfect For:

• Frequent travelers who book luxury hotels and don't mind using Chase's portal
• Organized spenders who will track and use multiple semi-annual credits
• New applicants attracted by the massive sign-up bonus

Not Ideal For:

• Casual travelers who valued the simple 3x earning on all travel
• Anyone seeking simplicity who doesn't want to manage multiple credits and deadlines
• Budget-conscious travelers who rarely book luxury accommodations

The Bottom Line

The new Chase Sapphire Reserve isn't necessarily better or worse—it's fundamentally different. Chase has transformed a broadly appealing card into a specialized tool for travelers willing to engage deeply with their ecosystem.

For new applicants: The sign-up bonus alone makes getting the card worthwhile for the first year.

For existing cardholders: You'll need to honestly assess whether you'll use enough of the new credits to justify the higher fee. If you prefer simplicity, consider downgrading to the Chase Sapphire Preferred.

The real question: Are you willing to become a "credit optimizer" to unlock the card's full value, or do you prefer the straightforward approach of the old Sapphire Reserve?

The new benefits take effect immediately for new cardholders and will apply to existing cardholders starting with their renewal date after October 26, 2025.