JPMorgan Unveils New Chase Sapphire Reserve Card With Higher Annual Fee, New Benefits, and a Glimpse of What ‘Premium Card’ Refreshes Could Copy

JPMorgan ($JPM) might be a respectable name on Wall Street, but it’s Chase — its consumer banking engine — that brings in the Main Street crowd. And by their own count, more than half of new customers come through the doors for one thing — credit cards.

Most come in search of hefty sign-up bonuses (like the recent 100K point offer), but Chase is now hoping that “$2,700 worth of value” will justify a steeper $795 annual fee on the refreshed, top-of-the-line Chase Sapphire Reserve (CSR).

• Leaning into its own ecosystem, CSR now includes a $500/yr credit for Chase Travel’s luxury hotels, higher earn rates for shopping on the Chase Travel portal, and a new $300/yr Chase dining credit.
• Other additions include IHG One Platinum Elite status alongside a slew of lifestyle credits from StubHub ($300/yr), a complimentary Apple TV+/Music bundle ($250 value), $10/mo in Lyft credits, and $25/mo in DoorDash credits.

So is it worth it? These perks come on top of CSR’s core appeal — like the famously flexible $300/yr travel credit. But at $795/yr, it now stands as the most expensive ‘premium’ credit card aimed at the mass affluent, making it a tough sell if you’re not an avid spender making the most of the earnings rates, coupon book clippings, and quirks like Points Boost.

Watch out for paywalls… To unlock the full slate of ‘premium benefits’ — including IHG Diamond Elite status, Southwest A-List Status, and extra shopping credits — you’ll need to spend $75K/yr on the card. Not exactly light lifting.