JPMorgan Chase Launches Enhanced Sapphire Reserve Card

JPMorgan Chase is enhancing its Sapphire Reserve credit card, raising the annual fee to $795—a 45% increase since its 2016 debut. Despite the price hike, the bank emphasizes that cardholders will receive over $2,700 in annual benefits starting June 23. Along with retaining previous advantages, the card introduces new perks for travel and dining. Noteworthy features include a redemption program that doubles the value of points for select travel and a $500 annual credit for stays at specific hotels. Additionally, cardholders will enjoy a $300 dining credit at participating restaurants, a $300 credit for purchases on StubHub or Viagogo, and free subscriptions to Apple TV+ and Apple Music, valued at $250 per year. Following the announcement, JPMorgan’s stock dipped slightly to $270.31.

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