JPMorgan Chase raises Sapphire Reserve card annual fee to $795, introduces new perks

From CNBC: 2025-06-17 08:15:00

JPMorgan Chase raises annual fee for Sapphire Reserve card to $795, offers new perks worth $2,700. Includes a $500 credit at hotels, $300 dining credit, and free subscriptions to Apple TV+ and Apple Music. Business version introduced with similar perks. Amex to update Platinum cards with higher fees and more perks.

JPMorgan aims to keep affluent customers hooked on Sapphire Reserve with new perks despite fee hike. Risk of alienating customers who may opt for lower-tier cards. Amex and Capital One facing overcrowding issues at lounges. Value of premium cards depends on utilizing new perks.

Amex set to update Platinum cards with higher fees and more perks. Cards not for everyone, but offer compelling value to certain customers. Subscription-type business model by Amex and JPMorgan provides breadth of perks to keep customers engaged. Flywheel effect created by increasing perks.

Read more: New perks, $795 annual fee