Analyzing the Latest Changes to Chase Sapphire Benefits
The Chase Sapphire card family has long been a favorite among frequent travelers and points enthusiasts. However, recent adjustments to the benefits lineup have left many cardholders wondering if these premium cards still hold their value. With the removal of a major airport lounge perk and the expiration of partner credits, it is time to look closely at the numbers. We are breaking down the latest updates to the Chase Sapphire Reserve and Chase Sapphire Preferred to help you decide if paying the annual fee still makes sense.
The Big Shift: Chase Sapphire Reserve Updates
The Chase Sapphire Reserve carries a hefty $550 annual fee. To justify this cost, Chase provides a suite of premium travel and lifestyle perks. Recently, a few of those perks have changed significantly.
The Loss of Priority Pass Restaurants
The most talked-about change happened on July 1, 2024. Chase removed the Priority Pass restaurant benefit from the Sapphire Reserve. Previously, cardholders could present their Priority Pass card at select airport restaurants to receive a $28 to $30 credit toward their food and drink bill. For travelers flying out of airports without traditional lounges, this was a massive money saver.
Now, your Priority Pass membership through Chase only grants access to traditional lounges and minute suites. If you frequently relied on airport restaurant credits to offset your annual fee, this change stings.
Instacart+ Benefits Expired
Another notable change was the expiration of the Instacart+ partnership. Up until July 2024, Sapphire Reserve cardholders enjoyed complimentary Instacart+ memberships and up to $15 in monthly statement credits for grocery deliveries. Chase chose not to renew this partnership, removing up to $180 in potential annual value from the card.
What Stays the Same for the Reserve?
Despite the negative changes, the Chase Sapphire Reserve still packs a punch with several high-value benefits that remain untouched.
- $300 Annual Travel Credit: This is the easiest credit to use in the credit card industry. Chase automatically applies it to any purchase that codes as travel, including flights, hotels, parking garages, and toll booths. This immediately drops the effective annual fee from $550 to $250.
- DoorDash DashPass Extension: Chase extended its partnership with DoorDash. Sapphire Reserve cardholders now get free DashPass through December 31, 2027. You also continue to receive a $5 monthly DoorDash credit.
- Chase Sapphire Lounges: To counter the loss of Priority Pass restaurants, Chase is rapidly opening its own branded airport lounges. You can now visit premium Chase Sapphire Lounges in Boston (BOS), New York (JFK and LGA), and Washington D.C. (IAD).
- Elevated Redemption Rates: Points are still worth 1.5 cents each when redeemed for travel through the Chase Travel portal.
- High Earning Rates: You still earn 3x points on dining and general travel, plus 10x points on hotels and car rentals booked through the Chase portal.
Chase Sapphire Preferred: Subtle but Stable
The Chase Sapphire Preferred is the entry-level sibling to the Reserve. It carries a much lower $95 annual fee. The changes to this card have been far less dramatic, making it an incredibly stable choice for most consumers.
Current Benefit Highlights
The Preferred card lost the same Instacart+ benefits as the Reserve, but it did secure the DoorDash DashPass extension through the end of 2027.
The card continues to offer a $50 annual hotel credit, but there is a catch. You must book the hotel stay directly through the Chase Travel portal to trigger the credit. If you use this credit once a year, your effective annual fee drops to just $45.
You also still earn 3x points on dining, 3x points on online grocery purchases, and 2x points on all travel. Points are worth 1.25 cents each in the Chase portal, but the real value lies in the transfer partners.
Is the Annual Fee Still Justified?
To decide if the annual fee is worth it, you have to look at your personal spending habits.
If you hold the Chase Sapphire Reserve, your effective fee is $250 after using the $300 travel credit. You need to ask yourself if lounge access, global entry credits, and premium travel insurance are worth $250 a year. If you frequently fly out of airports with a Chase Sapphire Lounge, the card is absolutely still worth the fee. If you relied heavily on the Priority Pass restaurant credits and fly out of smaller regional airports, you might want to downgrade your card.
If you hold the Chase Sapphire Preferred, the $95 fee is almost universally justified. The ability to transfer your Ultimate Rewards points to partners like World of Hyatt, United Airlines, and Southwest Airlines can save you thousands of dollars on vacations. A single transfer of 20,000 points to Hyatt can easily book a hotel room that costs $350 or more a night.
Frequently Asked Questions
Did Chase remove Priority Pass restaurant access? Yes. As of July 1, 2024, Chase Sapphire Reserve cardholders can no longer use their Priority Pass membership to get bill credits at participating airport restaurants.
How long does the free DoorDash DashPass benefit last? Chase has extended the complimentary DoorDash DashPass subscription for both Sapphire Reserve and Sapphire Preferred cardholders through December 31, 2027.
Can I downgrade my Chase Sapphire Reserve to the Preferred? Yes. If you decide the $550 annual fee is no longer worth it, you can call Chase customer service and request a product change to the $95 Chase Sapphire Preferred card or one of the no-annual-fee Freedom cards.
Do Chase points expire? No. As long as your Chase credit card account remains open and in good standing, your Ultimate Rewards points will not expire.