The Chase Sapphire Preferred® Card and Chase Sapphire Reserve® are impressive travel rewards credit cards that offer solid benefits and the ability to earn rewards, especially when making dining and travel purchases.
If you’re a Chase Sapphire cardholder or have been thinking about applying for one of the cards, you’ll want to know about some upcoming changes. Both popular travel rewards cards will be getting an upgrade with new perks and bonus categories that allow travelers to get more out of their cards. Find out what to expect with these significant changes that are set to begin on August 16, 2021.
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The new Chase Sapphire Preferred benefits
The Chase Sapphire Preferred® Card upgrades add new bonus categories and improve upon the existing rewards program.
Here are the updates you can expect from the Chase Sapphire Preferred® Card:
- Earn 5 points per $1 on travel purchases made through the Chase Ultimate Rewards portal
- Earn 3 points per $1 on dining, including eligible takeout and delivery
- Earn 3 points per $1 on select streaming services
- Earn 3 points on online grocery purchases (excludes Target, Walmart, and wholesale clubs)
- Enjoy a $50 annual credit on hotel stays purchased through the Chase Ultimate Rewards portal
- Earn a 10% anniversary point bonus equal to 10% of total purchases made the previous year, with bonus points awarded at each account anniversary (For example: Spend $20,000, earn 2,000 bonus points)
These improvements are significant. And the 10% cardmember anniversary bonus is a nice extra touch that stands out.
The Chase Sapphire Preferred® Card will continue to earn 2 points per $1 on travel purchases made outside of the Chase Ultimate Rewards portal and 1 point per $1 on all other purchases. The card will also feature an updated, sleek design, available to both new and current cardholders. The current new cardmember bonus offer still stands, and the $95 annual fee won’t change.
One point worth mentioning is the new $50 annual hotel credit will immediately be available to new cardmembers. But existing cardmembers won’t begin earning this perk until after their next card anniversary.
Expect these updates to the Chase Sapphire Reserve
The Chase Sapphire Reserve® card will also be undergoing some changes that include an upgrade from the previous travel and dining rewards.
Chase will make the following improvements to the card’s many perks:
- Earn 10 points per $1 on Chase dining purchases made through the Ultimate Rewards Portal
- Earn 10 points per $1 on hotel stays and car rentals purchased through the Ultimate Rewards Portal
- Earn 5 points on air travel purchased through the Ultimate Rewards Portal
- Later this year, cardholders will gain access to exclusive “Reserved by Sapphire” reservation opportunities at top-rated restaurants across the country
The current new cardholder bonus offer is still available, and the annual fee will continue to be $550. The card will continue to earn 3 points per $1 on travel and dining purchases made outside of the Chase Ultimate Rewards portal and 1 point per $1 on all other purchases. It will also continue to offer the card’s many notable premium travel perks.
While these are notable improvements, it feels like the Chase Sapphire Preferred® Card is getting a bigger facelift. For such a high annual fee, it’s a bummer that Chase isn’t also adding an anniversary card bonus perk with the Chase Sapphire Reserve® credit card.
Chase recently announced upcoming airport lounge locations
Chase has also been working to develop airport lounges with the company Airport Dimensions. These lounges will be called the Chase Sapphire Lounge by The Club. The card issuer recently announced three upcoming lounge locations.
Lounges will open in the following airports later this year with hopes for additional locations in the future:
- LaGuardia Airport (LGA)
- Boston Logan International Airport (BOS)
- Hong Kong International Airport (HKG)
Lounge opening dates and details will be announced at a later date. Once the Chase Sapphire Lounge by The Club spots open, they will be accessible to Chase Sapphire Reserve members and Priority Pass members.
Are the Chase Sapphire cards right for you?
If you’re a frequent traveler, either of the Chase Sapphire branded cards might be a good card for you. The Chase Sapphire Preferred® Card is an excellent travel rewards card option with an affordable annual fee. The Chase Sapphire Reserve® card is a travel rewards card loaded with fantastic premium perks but has a pricier yearly fee. But both cards offer flexible rewards opportunities, giving cardholders greater control over how they redeem their rewards.
If you’re in the market for a travel card, read our list of top travel rewards credit cards.
View more information: https://www.fool.com/the-ascent/credit-cards/articles/new-benefits-and-bonus-categories-coming-to-the-chase-sapphire-preferred-and-reserve-cards/