In May 2025, I said goodbye to a card that had been in my wallet for nearly 8 years — the Chase Sapphire Reserve. It was my go-to travel card for most of that time, mainly because of the excellent travel protections it offered. However, after years of use, it began to lose its luster.
I broke down all the reasons I was ready to part ways with the card in this post: Why I’m Saying Goodbye To The $550 Chase Sapphire Reserve. Here’s a quick summary of what I shared:
- The Sapphire Preferred is a solid alternative for earning Ultimate Rewards points on travel and dining expenses.
- The Ritz-Carlton Credit Card offers similar or even better travel protections and benefits, as well as more favorable lounge access rules, with a lower annual fee.
- AMEX Platinum provides far superior lounge access.
So I didn’t feel like I was downgrading — especially since switching to the Preferred netted me a 100,000-point welcome bonus. That was a nice little bonus for a move I was planning to make anyway.
Then The New Sapphire Reserve Changes Dropped
Not long after I canceled my Sapphire Reserve, Chase announced a major refresh of the card. Some people welcomed the changes. Personally, they just made me feel even better about my decision to walk away when I did.
Here’s why I’m not thrilled with the new version of the Chase Sapphire Reserve:
- Higher annual fee. Chase increased the already high $550 fee, and you now have to work even harder to justify it.
- Reshuffled bonus categories. General travel no longer earns 3X points. Now it’s 4X on flights and hotels only, but what about other travel options, such as rental cars, cruises, and trains? Back to 1X.
- Credits you need to track. There’s a new StubHub credit — which we might use occasionally — but we usually buy tickets directly from venues like Ticketmaster or small theaters, so it’s not a slam dunk.
- The Edit luxury hotel credit. We rarely pay cash for luxury hotels, and the $250 Edit credit requires a two-night minimum. That’s a high bar to clear just to break even.
- Chase Exclusive Tables benefit. Same story — we’re not booking fine dining tables through a credit card portal just to get “value.”
Long story short — if I still had the Sapphire Reserve, I’d be strongly considering canceling it once the new, higher annual fee kicks in.
The Rollout Hasn’t Been Smooth
Before the relaunch, Chase provided some guidance to View From The Wing, stating that starting June 23, 2025, cardholders would be allowed to hold both the Sapphire Preferred and Sapphire Reserve. They also said that eligibility for a welcome bonus would depend on factors like whether you’d received a bonus before, how many cards you’ve opened and closed, and other undisclosed criteria.
What they didn’t say was anything about a hard denial, or what kind of error message applicants might see if they tried to apply.
Now that people are actually trying to apply for the refreshed Sapphire Reserve, we’re seeing much stricter language than expected. For example, many applicants are being met with this message:
“This credit card is unavailable to you if you currently have one open. The new cardmember bonus may not be available to you if you currently have any other personal Sapphire cards open, previously held this card or received a new cardmember bonus for this card. We may also consider the number of cards you have opened and closed, as well as other factors in determining your bonus eligibility.”
So while Chase technically allows people to hold both cards now, it seems the bonus restrictions are much stronger and less predictable than originally implied. If you’ve had a Sapphire Reserve before, or if you currently have a Sapphire Preferred, your chances of getting a new bonus appear to be slim to none, even though Chase didn’t clearly communicate that up front.
Of course, introducing vague rules is nothing new for Chase. They’ve relied on the unpublished 5/24 rule for years to silently screen out applicants. And while the previous Sapphire family policy of waiting 48 months between bonuses helped reduce churning, this new “once per lifetime” vibe — combined with a murky “review of your entire history on application,” feels a lot like Chase is copying the AMEX playbook. Unfortunately, they seem to have taken the least customer-friendly parts.
Final Thought
I don’t regret holding the Sapphire Reserve for as long as I did. It served me well during its heyday. But between the higher annual fee, reshuffled bonus categories, and benefits that don’t match how we travel, I’m even more confident that canceling it and picking up a big bonus from the Sapphire Preferred in the process was the right move for us.
That said, it’s a total Your Mileage May Vary situation. If you frequently stay at luxury hotels, book flights and fine dining through curated portals, and don’t mind tracking multiple statement credits, then the refreshed Sapphire Reserve might be a great fit for you.
For our travel style and the other cards we carry, though? We’re not looking back.
Just a friendly reminder: if you’re inspired by our post, don’t actually put your Sapphire Reserve card in a shredder. 😬 It’s metal — and your shredder (and fingers) will thank you for safely returning it to Chase or using a secure disposal method instead.
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This post first appeared on Your Mileage May Vary
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