Questions and answers about Chase’s Sapphire Reserve changes
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Chase has confirmed a number of changes coming to its flagship Chase Sapphire Reserve card, including an increased annual fee and a number of new benefits. Key details include:
- The annual fee increased from $450 to $550
- The higher fee applies to new applicants as of Sunday, Jan. 12, 2020
- The higher fee will apply for renewals as of Wednesday, Apr. 1, 2020
- Cardholders will be eligible for one free year of Lyft Pink (valued at $19.99 per month)
- Cardholders will receive $60 in annual DoorDash statement credits in 2020
- Cardholders will receive $60 in annual DoorDash statement credits in 2021
- All new benefits began Sunday, Jan. 12, 2020
Naturally, readers will have a number of questions, so I checked in with the TPG team to see if there's anything they'd like Chase to address — after all, many of us are Chase Sapphire Reserve cardholders, too.
Related Reading: Significant changes confirmed for Chase’s Sapphire Reserve card
Catherine Hogan, President of Chase Branded Cards got back to us right away, saying:
We hear from our customers that rideshare and delivery services are increasingly more relevant to them. We are excited to partner with Lyft and DoorDash to deliver new value to tens of millions of Chase card customers – and we have worked with our partners to make the benefits available seamlessly in their apps. Whether dining out or ordering in, traveling abroad or across town – our cardmembers are using their cards every day and we want to reward them for that.
Hogan also addressed our questions, which I'll share with her responses just below.
Question: Why has Chase decided to increase the Sapphire Reserve card annual fee?
Answer: Sapphire Reserve was built for customers who love to experience life through travel and dining – and it continues to deliver just that. Our cardmembers are savvy and we expect they will continue to find this card rewarding for how they live their lives.
Q: Will there be any increase to the annual travel credit?
A: We know our cardmembers love the flexibility and ease of the $300 travel credit – and they will continue to enjoy this value.
Q: Are there any other changes to the earning rates for both Sapphire cards?
A: In addition to the 3x earn with Reserve and 2x earn with [the Chase Sapphire Preferred Card] on a broad definition of travel purchases, Sapphire Reserve cardmembers will now automatically earn 10x total points every time they use their card for a Lyft ride and Sapphire Preferred will earn 5x total points each through March 2022.
Ultimate Rewards points have been recognized as some of the most valuable in the industry and Sapphire Reserve points are worth 50% more when redeemed for travel through Ultimate Rewards.
Q: Do Lyft gift card purchases qualify for 10x points as well?
A: Sapphire Reserve cardmembers will earn 10x total points every time they take a Lyft car, as well as when taking Lyft bike or scooter rides. Gift cards are not included at this time.
Q: Will a free membership or Lyft Pink discount be available in 2021?
A: Sapphire Reserve cardmembers can activate their membership in the Lyft app by March 2022 to enjoy a complimentary year of Lyft Pink, currently valued at $239.
Q: Are DoorDash credits broken into monthly installments or will all $60 be available immediately?
A: Starting January 12, Sapphire Reserve cardmembers will automatically earn statement credits of up to $60 in 2020 and $60 in 2021 on DoorDash purchases, no activation required. This is not an installment, these credits will be available immediately.
Q: Will DoorDash credits be applied based on the purchase date or post date?
A: The credits will be awarded when the transaction is posted. This is similar to the Sapphire Reserve annual travel credit.
Q: Will DoorDash credits be issued after the first two years?
A: Cardmembers will be able to enjoy the statement credits through the end of 2021.
Q: Are all DoorDash and Lyft benefits available to existing cardholders?
A: Benefits will be available to existing as well as new customers.
For more answers to your Chase Sapphire Reserve questions, please see our original Q&A from the card's launch in 2016, and feel free to chime in with any additional questions you may have below.
Update 1/8/20: Chase has addressed several more questions, including:
Q: Will customers earn 3x points on DoorDash orders?
A: Yes, customers will earn 3 points per dollar spent on orders placed via DoorDash.
Q: Will there be any change to the fee for authorized users?
A: No, there won't be any change to the authorized user fee.
Q: Will statement credits apply to Lyft rides outside the U.S.?
A: Lyft credits will only be available for rides within the United States.
Q: Will authorized users have access to the same Lyft and DashPass benefits?
A: Yes, Chase Sapphire Reserve and Chase Sapphire Preferred Card authorized users will receive DashPass benefits as well, and will have access to the same $60 DoorDash credits as the primary account holder. Only one Lyft Pink membership is available per account, but authorized users will also earn at the 10x or 5x rates.
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