From Yahoo Finance: 2025-06-18 06:00:00

A new $795 annual fee for the Chase Sapphire Reserve credit card sparks debate over its worthiness. The fee highlights economic indicators and competition for affluent consumers, reflecting the labor market’s disparity. Purchasing power and consumer wealth gaps are key topics in national politics, influencing discussions on everyday expenses.

Despite the hefty fee, Chase aims to attract affluent customers with its card overhaul, intensifying competition among lenders. American Express and Wells Fargo also revamp their premium cards to entice consumers with travel and lifestyle benefits. The evolving credit card landscape signals a shift towards catering to high-spending customers.

Card issuers are targeting customers who spend significantly on their cards to generate swipe fees. The new fee structure aims to maximize revenue from customers who may not utilize all perks, pricing out those who don’t spend enough. The credit card industry’s evolution reflects a focus on high-value customers and profitability strategies.

Read more: Chase’s $795 Sapphire Reserve card signals a shift in the credit card perk wars