The End of an Era? Why Premium Travel Cards Like the Sapphire Reserve Aren’t What They Used to Be

AMEX Started It

American Express was the first to shift the game. A few years back, they refreshed the Platinum and Business Platinum cards. Out went the straightforward value, in came a laundry list of small credits: $15 a month for Uber, $20 for digital entertainment, a Saks credit, a Walmart+ subscription — you get the idea.

On paper, the benefits stack up. In reality, they’re easy to forget or hard to use unless you’re super organized. And all this came with a higher fee: the Platinum now sits at a steep $695 a year.

Chase Joins the Party

Now, Chase has relaunched the Sapphire Reserve, and the trend is clear. Yes, there’s a flashy 100,000-point sign-up bonus, but it comes with a much bigger annual fee: $795.

Even worse, the card’s signature perk — that 1.5x redemption value on travel through the Chase portal — is gone. In its place are smaller, more scattered credits, similar to AMEX. It feels like more complication, less clarity.

A Bright Spot for Luxury Travelers

That said, not all the changes are bad. If you love staying at high-end hotels, Chase has added something genuinely interesting. With the new Chase Edit program, you’ll get a bi-annual $250 hotel credit and, more importantly, a point boost. Ultimate Rewards points can now be redeemed at 2 cents each when booking Edit hotels through the Chase portal.

To put that in perspective: if you use your 100,000-point welcome bonus on one of these stays, that’s a whopping $2,000 toward a luxury hotel booking. For travelers who value upscale properties, this can be a real win.

Our Take

For most people, though, the math still doesn’t add up. The Sapphire Reserve went from being the no-brainer premium card to one that’s expensive and bloated with benefits that are harder to use. Unless you’re laser-focused on luxury hotel stays, it’s tough to justify $795 a year.

That’s why our current recommendation is to look at the Chase Sapphire Preferred instead. At just $95 a year, it delivers many of the same travel protections and perks, earns valuable Ultimate Rewards points, and right now comes with a very solid 75,000-point welcome bonus.

Bottom Line

The Sapphire Reserve was once the king of premium travel cards. Today, it’s looking a lot like the AMEX Platinum — pricey, complicated, and better suited for a very specific kind of traveler. For everyone else, the Sapphire Preferred is the smarter, more practical choice.

Explore Credit Cards Mentioned In This Post

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Chase Sapphire Reserve

Annual Fee: $795

Welcome Bonus: 100,000 points + $500 Travel Credit

Rewards: 8x points on all purchase through Chase Travel, 4x on flights and hotels booked direct, 3x on dining worldwide, 1x on all other purchases

Perks: $300 annual travel credit, $250 bi-annual Hotel Credit, points worth between 1-2 cents via Point Boost, Plus credits at DoorDash, Lyft, Peloton, and more

American Express Platinum

Chase Sapphire Preffered

Annual Fee: $95

Welcome Bonus: 75,000 points

Rewards: 5x points on all purchase through Chase Travel, 2x on all other travel, 3x on dining worldwide, 3x on online groceries, 3x on select streaming services, 1x on all other purchases

Perks: $50 annual Hotel Credit, 10% Anniversary boost, Plus credits at DoorDash, Lyft, Peloton, and more

Annual Fee: $695

Welcome Bonus: 175,000 points

Rewards: 5x on flights and prepaid hotels booked on American Express Travel Portal, 1x on all other purchases

Perks: $200 annual Airline Fee Credit, $200 Hotel Credit, $199 Clear membership Credit, plus credits at Uber, Saks, Walmart, and more