Chase confirms refreshed Sapphire Reserve, new business card coming soon
It's been rumored for months, and the day is nearly here.
Chase confirmed Monday that it will launch a fully refreshed Chase Sapphire Reserve® card and an all-new business version of the Sapphire Reserve card in the coming weeks.
The official timeline is "this summer," which kicks off Friday, June 20.
The issuer launched a marketing campaign around New York City on Monday to tease the new cards, and it also took to its social media channels to show off a picture of the newly designed Sapphire Reserve card, which admittedly looks far more premium than the existing version.
It's possible that Chase might be ready to launch the cards right at the start of the summer season to capitalize on all the buzz around summer travel — especially since the card design is finalized — but we'll have to wait and see when the cards actually launch.
Furthermore, the issuer wouldn't tease any further details about the changes coming to the popular Sapphire Reserve card, nor would it mention what's coming with the Sapphire Reserve business card — but if you've been following the rumors, you might be gearing up for some big changes.
To start, all indicators point to an annual fee increase. Right now, the Sapphire Reserve charges a $550 annual fee, but card refreshes tend to come with fee hikes.
Of course, we'll have to wait and see the full details to know whether the Reserve's fee will surpass the annual fees on the top-of-the-line credit cards from Capital One ($395 on the Capital One Venture X Rewards Credit Card) and American Express ($895 on The Platinum Card® from American Express; see rates and fees).
We've also seen a trend with Chase and other issuers updating cards with new lifestyle perks and statement credits to offset fee increases, and we'll find out sooner rather than later whether that strategy is a core part of this refresh and new card launch.
For those who currently hold the Sapphire Reserve or are considering signing up for a new one, I'd recommend waiting to see what Chase announces before making any moves. Card issuers typically give users at least a few days to consider a new package of benefits before rolling out major changes, and I'd be surprised if Chase announced the new cards without giving any heads-up to existing users.
New cards will also likely usher in new welcome bonuses, so we'll be keeping our eyes peeled for what Chase has up its sleeve this summer.
Related reading:
- The best current credit card welcome offers
- 7 things to understand about credit before applying for a new card
- How to apply for a credit card
- What is APR on a credit card?
- How to check your credit score for free
For rates and fees of the American Express Platinum card, click here.
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Why We Chose It
The Capital One Venture X Business Card has all the Capital One Venture X Rewards Credit Card has to offer and more. It offers an incredible welcome bonus and requires an equally impressive spend to qualify. In addition, the card comes with premium travel perks like annual travel credit. (Partner offer)Pros
- The Capital One Venture X business card has a very lucrative welcome offer.
- In addition, the card comes with many premium travel perks such as an annual $300 credit for bookings through Capital One Business Travel.
- Business owners are also able to add employee cards for free.
Cons
- The card requires significant spending to earn the welcome offer.
- Another drawback is that the annual travel credit can only be used on bookings made through Capital One Business Travel.
- LIMITED-TIME OFFER: Earn up to 400K bonus miles: 200K miles when you spend $30K in the first 3 months, and an additional 200k miles when you spend $150k in the first 6 months
- Earn unlimited 2X miles on every purchase, everywhere—with no limits or category restrictions
- Earn 10X miles on hotels and rental cars and 5X miles on flights and vacation rentals booked through Capital One Business Travel
- With no preset spending limit, enjoy big purchasing power that adapts so you can spend more and earn more rewards
- Empower your teams to make business purchases while earning rewards on their transactions, with free employee and virtual cards. Plus, automatically sync your transaction data with your accounting software and pay your vendors with ease
- Redeem your miles on flights, hotels and more. Plus, transfer your miles to any of the 15+ travel loyalty programs
- Every year, you'll get 10,000 bonus miles after your account anniversary date. Plus, receive an annual $300 credit for bookings made through Capital One Business Travel
- Receive up to a $120 credit for Global Entry or TSA PreCheck®. Enjoy access to 1,300+ airport lounges worldwide, including Capital One Lounge locations and Priority Pass™ lounges, after enrollment
- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- This is a pay-in-full card, so your balance is due in full every month