Crystal Cox/Business Insider
- Two popular credit cards are getting upgrades soon.On Monday, American Express said updates are coming to its Platinum Card later this year.On Tuesday, JPMorgan Chase said their Sapphire Reserve card is getting new perks — and a price hike.
Jet-setters and foodies rejoice: Two of the most popular credit cards for travelers and frequent diners are getting upgrades and new perks later this year.
On Monday, American Express said updates are coming later this year to the US Consumer and Business Platinum Cards, which carry a $695 annual fee. It's unclear if a price hike will accompany the upgrades. AmEx said in a press release that it'll share more updates in the fall.
The following day, JPMorgan Chase said an upgraded Chase Sapphire Reserve credit card was coming June 23.
The price of the Sapphire Reserve card will go from $550 a year to $795 a year. It launched in 2016 with a $450 annual fee.
The revamp will see new perks for cardholders in spending categories like travel, dining, and lifestyle.
Travel perks
Cardholders will get 8x points on Chase Travel for purchases like flights, hotels, and rental cars, and 4x points on bookings made directly with an airline or hotel. They'll also get up to $500 in credit towards The Edit, Chase's collection of hotels and resorts, and they can choose to activate complimentary IHG Platinum Elite status until December 21, 2027. The card will also retain its popular $300 annual travel credit.
The new Points Boost feature means points are worth up to 2x their value on redemptions with thousands of hotels and flights with select airlines.
Dining perks
Cardholders will continue to earn 3x the points when dining. With the revamp, they'll also now get a credit of up to $300 annually for dining at restaurants that are part of the Sapphire Reserve Exclusive Tables program, which secures reservations for cardholders at "some of the most sought-after and hardest-to-book restaurants in major cities," Chase says.
Lifestyle perks
The new card includes a complimentary subscription to Apple TV+ and Apple Music, valued at $250 annually.
Cardholders can also get up to $120 in annual statement credits toward Peloton memberships, and they earn 10x on eligible Peloton purchases, up to 50,000 points. Another new lifestyle perk is up to $300 in annual statement credits on entertainment tickets bought on StubHub and viagogo.
All three of these new lifestyle perks require activation. The existing DoorDash perks, which have a total value of up to $420, and the existing Lyft perks, which have a total value of $120 and 5x total points, remain in place.
For a full list of what's available with the new Chase Sapphire Reserve card, check here.
