Big Changes to a Top Travel Card — Is It Still Worth It or Is There a Better Fit for You?

Summary

Smart Travel: Upgrade Your Getaways
Episode: Big Changes to a Top Travel Card — Is It Still Worth It or Is There a Better Fit for You?
Hosts: Sally French & Meghan Coyle
Release Date: June 18, 2025

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Introduction and Overview

In this compelling episode of Smart Travel: Upgrade Your Getaways, hosts Sally French and Meghan Coyle delve deep into the significant changes announced for the Chase Sapphire Reserve credit card. They meticulously unpack the modifications, evaluate the new benefits, and offer strategic advice to both current and prospective cardholders. The discussion is enriched with insightful commentary, noticeable humor, and actionable takeaways tailored for savvy travelers looking to maximize their travel budgets.

Airline News: Silver Airways and Play Airlines Cease US Operations

The episode kicks off with a discussion on recent upheavals in the airline industry. Silver Airways, a regional carrier based in Florida, abruptly ceased operations last week, leaving passengers scrambling for refunds. Sally expresses concern, highlighting the sudden nature of the shutdown:

[02:07] Sally French: "Oh my gosh, how terrible for those travelers. I hope they got refunds."

Similarly, Play Airlines, an Icelandic budget carrier, announced the termination of its US flights, refocusing efforts on European routes. Meghan provides context about the airline’s struggles:

[02:49] Meghan Coyle: "This isn't a huge surprise since Play began cutting US Flights last year. And honestly, they just haven't been profitable."

American Airlines Introduces Instant Upgrade Options

Transitioning to major airline updates, the hosts discuss American Airlines’ shift to an instant upgrade system. This new feature allows passengers to upgrade their seats with cash or miles without the uncertainty of waitlists. However, this change comes at the cost of eliminating the traditional award chart, a move that many frequent flyers find unfavorable:

[03:33] Sally French: "Oh, no, the people hate this."
[04:12] Sally French: "Bad words because it means the price goes up in most cases."

The hosts elaborate on the implications, noting that existing award chart benefits will phase out by October 2027, urging cardholders to utilize their points before the transition.

Travel Expense Pricing Trends: Airfares and Hotels Decline

Sally shares optimistic news regarding the latest Consumer Price Index released by the Bureau of Labor Statistics. In May 2025, airfares decreased by 7% compared to the previous year—a significant drop amidst rising costs in other sectors:

[04:59] Sally French: "Airfares in May 2025 were down 7% compared to the same time last year."

Hotel prices also saw a modest decline of nearly 2%, providing additional relief for travelers:

[05:34] Sally French: "Hotel prices are down almost 2%. I know that's not as significant as airfares, but still really surprising and really good news."

Moreover, the average gas price in the US has tapered down to approximately $3.10 per gallon, down from $3.50 a year earlier, benefiting road trip enthusiasts:

[05:50] Meaghan Coyle: "The average gallon of gas is close to $3.10 right now, and that's down from about $3.50 a year ago."

Major Changes to Chase Sapphire Reserve

The heart of the episode centers on the Chase Sapphire Reserve card's overhaul. With the annual fee soaring from $550 to $795—a staggering 45% increase—the hosts scrutinize whether the enhanced benefits offset the higher costs.

Annual Fee Hike and New Benefits

Meghan announces the fee escalation, highlighting the introduction of a suite of new benefits purportedly valued at over $2,700 annually:

[06:13] Meghan Coyle: "This is huge news in the travel credit card space... the annual fee went up to $795."
[07:53] Sally French: "Dude, Megan, that was pretty good. We should get you a job as an auctioneer."

Breakdown of New Credits and Benefits

The hosts meticulously list the newly introduced credits, though they express skepticism about their practicality:

[08:09] Meghan Coyle: "$500 annual the Edit credit, $300 annual dining credit and primetime reservations at Chase Sapphire Reserve exclusive tables..."
[09:00] Sally French: "These credits are so complicated."

They critique the DoorDash credits, sharing personal anecdotes that underscore the complexities and limitations of these new perks.

Hotel Credit Limitations

Discussing the $500 annual hotel credit through Chase’s Edit program, Megan and Sally point out restrictive conditions such as the two-night minimum stay requirement, diminishing the credit's real-world value:

[11:10] Sally French: "But don't fall for that $500 figure... you have to stay a two night minimum."
[12:18] Sally French: "And also you're only locked in for the two night minimum on the hotel collection."

Earning and Redeeming Points: A Shift in Value

A significant portion of the conversation addresses changes in how points are earned and redeemed. The hosts lament the reduction in earning rates for certain categories and the transition to Points Boost, a less favorable redemption structure:

[20:04] Sally French: "And then let's talk about all the changes to redeeming points."
[21:14] Sally French: "They're basically like forcing you to book through Chase travel."

These adjustments potentially erode the card's previous superiority in points value, making it imperative for users to reassess their point utilization strategies.

Signup Bonus: To Chase or Not to Chase

While Chase has yet to disclose whether the signup bonus will remain unchanged post-relaunch, the hosts debate its importance in deciding whether to apply for the card. Sally remains skeptical about its influence compared to the long-term value:

[23:52] Sally French: "I really don't try to factor in the welcome offer when I judge a credit card."

Conversely, Meghan emphasizes the appeal of a substantial signup bonus in her decision-making process:

[24:04] Meghan Coyle: "For me, the signup bonus doesn't really decide whether I get the card."

Advice for Current and Prospective Cardholders

The hosts offer pragmatic advice for listeners contemplating whether to retain or cancel their Chase Sapphire Reserve card amidst its changes:

1. Keep the Card: If the enhanced benefits align with your spending habits and can offset the increased fee.
2. Downgrade: Transition to a no-annual-fee Chase card to preserve credit history without the hefty cost.
3. Explore Alternatives: Consider other premium travel cards that might better suit your needs.

Sally shares her personal experience of downgrading her card in response to previous fee increases, highlighting the ease of the process:

[25:35] Sally French: "It's really easy to downgrade. All you have to do is you just call Chase and you just say, hello, I would like to downgrade to a Freedom or any other no annual fee Chase card."

Alternatives to Chase Sapphire Reserve

The discussion transitions to alternative premium travel cards, primarily the American Express Platinum and Capital One Venture X. The hosts compare annual fees, benefits, lounge access, and overall value:

[27:05] Sally French: "But can we just talk about some of these alternatives?"
[27:08] Meaghan Coyle: "Yeah. So, Sally, you and I have what is easily the closest competitor to the Chase Sapphire Reserve, the Platinum card from American Express."

They commend the Amex Platinum for its expansive lounge network and superior lounge amenities, positioning it as a formidable competitor despite its own high annual fee:

[27:30] Meaghan Coyle: "They also both have lounge access... So for the lounge access alone, this card is amazing."

Conversely, they evaluate the Capital One Venture X as a more affordable option with substantial benefits, though noting some shortcomings in its lounge offerings.

Conclusion and Listener Engagement

Wrapping up the episode, Sally and Meghan encourage listeners to evaluate their travel spending, credit card benefits, and personal preferences to determine the best course of action regarding the Chase Sapphire Reserve. They invite feedback and reviews to foster community engagement and ensure the show's continued relevance and quality.

[31:24] Sally French: "I really want to know what people think about these changes."
[31:50] Meaghan Coyle: "This is the currency of our show. If we get those five star reviews, we get to keep making this show and that's what we love doing most."

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Key Takeaways

• Chase Sapphire Reserve has undergone significant changes, including a substantial annual fee hike and revamped benefits that may not universally justify the increased cost.
• The removal of the traditional award chart and introduction of Points Boost may diminish the card's appeal for point earners and redeemers.
• Other premium cards like American Express Platinum and Capital One Venture X offer competitive benefits that might better align with certain travelers' needs.
• Prospective and current cardholders should meticulously assess their travel habits, spending patterns, and how they utilize card benefits to make informed decisions.

Final Thoughts

This episode serves as an essential guide for travelers navigating the evolving landscape of premium travel credit cards. With expert analysis and candid discussions, Sally and Meghan equip listeners with the knowledge to optimize their travel budgets and make strategic financial decisions.

For more insights and detailed comparisons, visit NerdWallet's official website and check out their curated list of the best travel credit cards.

Transcript

[Meagan Coyle]

Get into your body's vitals with the Vitals app on Apple Watch. The Vitals app tracks key overnight metrics so you can spot changes in your health before you feel them. The Vitals app ON Apple Watch iPhone XS are later required. The Vitals app is for wellness purposes only and not for medical use.

[Sally French]

Ginormous News in the World of Travel Credit cards smacked us yesterday.

[Meagan Coyle]

The Chase Sapphire Reserve has a new do. Tons of changes to this card were just announced and the annual fee is going up to. Wait for it, $795.

[Sally French]

Dude, that is higher than the annual fee on the Platinum card from American Express, which is still incredibly high at $695.

[Meagan Coyle]

Well, the chase Sapphire Reserve is also adding a boatload of new benefits, which Chase claims is worth more than $2,700 a year.

[Sally French]

But just to be clear, that is not $2,700 in cash. That is $2,700 in coupon, book energy.

[Meagan Coyle]

And some huge changes. They're not all great to the ways you can earn and redeem points.

[Sally French]

Welcome to Smart Travel, a deep dive into the tips, tools and tactics to maximize your travel dollars.

[Meagan Coyle]

I'm Meagan Coyle.

[Sally French]

And I'm Sally French and we're the.

[Meagan Coyle]

Travel nerds ready to help you plan your next big trip.

[Sally French]

We are unpacking all the changes to the Chase Sapphire Reserve today, but before we get there, let's talk about some of the other news in travel. Today. We are going to talk about a few credit card companies that are Nerd Wallet partners in this show, but that does not influence how we discuss them. The benefits, terms and fees mentioned were accurate at the time of posting, but things can change. Some offers may have expired by the time you're listening, so for the latest details, follow the links in the episode.

[Meagan Coyle]

Description Kicking us off not one, but two airlines Airlines are ceasing operations in the US the first one is regional airlines Silver Airways, which was based in Florida and operated flights to the Bahamas and the Caribbean as well. They shut down abruptly last week with a post to their social media and their website telling passengers don't go to the airport.

[Sally French]

Oh my gosh, how terrible for those travelers. I hope they got refunds.

[Meagan Coyle]

Yeah, they said passengers with existing tickets would be refunded, but it was still a surprise. Silver Airways filed for Chapter 11 bankruptcy about six months ago, but they had hoped to restructure their finances and keep operating.

[Sally French]

And then the other airline that's ending all of its US Flights is Play Airlines. That is an Icelandic budget airline. It Says it's going to focus on flying passengers from Iceland to Europe instead of transatlantic flights.

[Meagan Coyle]

So those flights from New York, Stewart, Boston, Logan and Baltimore, Washington to Reykjavik's airport will end in the fall. This isn't a huge surprise since play began cutting US Flights last year. And honestly, they just haven't been profitable.

[Sally French]

Megan, remember? Wow.

[Meagan Coyle]

Yeah. What a throwback.

[Sally French]

Throwback. They were the other Icelandic budget airline. They tried to do the same thing back in the 2010s, but they ended operations entirely.

[Meagan Coyle]

Yeah, it was fun while it lasted. I got some super cheap flights to Iceland on. Wow. Back in the day it was like $400 round trip from LA. And that was one of my favorite family vacations ever. We got to see so many puffins.

[Sally French]

Okay. Also in airline news, American just changed how its upgrades work. Now American Airlines flyers will start seeing an instant Upgrade option available AA.com that's where you can upgrade with cash or miles and your seat will be confirmed right away. That means no more getting on a wait list.

[Meagan Coyle]

And now that they're switching to instant upgrades, that means another award chart is going away.

[Sally French]

Oh, no, the people hate this.

[Meagan Coyle]

Yeah, American used to have this table that would show you how many miles it would cost to upgrade to the next cabin based on where you are flying and which airline. For example, if you were flying North America to Europe, it would have cost 15,000 miles to upgrade from full fair economy or premium economy to the next class.

[Sally French]

I always prefer an award chart. I know many listeners do, because then it's just so clear how many miles you need to spend for an upgrade, how much you need to save up to actually get that flight. Our smart travel listeners know that once you lose an award chart, airlines usually switch to dynamic pricing. And that's where the number of miles you might need goes up or down based on demand.

[Meagan Coyle]

Dynamic pricing is a bad word, or I guess words on this show, very.

[Sally French]

Bad words because it means the price goes up in most cases.

[Meagan Coyle]

American Airlines flyers like myself do have some time, though. Passengers have until August 11th to make mileage upgrade award requests under the old chart for trips that begin no later than December 31st this year.

[Sally French]

And if listeners want to start testing out the new upgrade system, you can find your trip [e-mail] just see what the upgrade options are. The cash options will show up on AAA.com or in the American app anytime before departure. The thing is, the mile option only shows up on desktop right now and it won't show up until 24 hours before departure.

[Meagan Coyle]

Okay, so many little Fine print things. Sally, why don't you tell listeners about the latest pricing numbers for travel expenses? You just updated that last week.

[Sally French]

Oh, you know, I'm happy to. The Bureau of Labor Statistics just released the latest Consumer Price Index. This tracks all sorts of data, and it does specifically break out the cost of airfares, lodging, meals, and rental cars. And good news for us. Airfares in May 2025 were down 7% compared to the same time last year. And not only is that a huge decrease, Megan, but it is also significant when you consider average prices for all items. So we're talking about everything else you spend money on. Food, clothing went up 2.4% over the past year.

[Meagan Coyle]

Okay, so what about hotels then?

[Sally French]

Hotel prices are down almost 2%. I know that's not as significant as airfares, but still really surprising and really good news. If you are traveling this year versus last year, expect to pay slightly less for your hotel and even cheaper, more or less for that flight, even if.

[Meagan Coyle]

You'Re sticking closer to home. The average regular gas price in the US is also down compared to last year. According to AAA, the average gallon of gas is close to $3.10 right now, and that's down from about $3.50 a year ago.

[Sally French]

Good savings for those summer road trippers. That is our quick news. But now it is time for the big stuff. Let's talk about the Chase Sapphire Reserve.

[Meagan Coyle]

This is huge news in the travel credit card space. You really only see changes like this once every five years or so. The last time the Chase Sapphire Reserve got a refresh was in 2021, and that's when the annual fee went up. It was also Covid. So the whole rollout took a long time. It was a little bit messy.

[Sally French]

And I don't think the changes were as significant as what we have this week. This time, there are so many changes to the Chase Sapphire Reserve, I think it's practically unrecognizable from its old self. So let's dive into the biggest changes with this card.

[Meagan Coyle]

Wait, we should mention that there were cards plural, in this announcement.

[Sally French]

Yes.

[Meagan Coyle]

Chase also announced it's launching a business version of the Chase Sapphire Reserve card, which has many similarities to the consumer version. But for this episode, we'll focus on the personal card, since that's the one many of us are familiar with already.

[Sally French]

So the headline here is that the Chase Sapphire reserves former $550 annual fee now goes up to $795. That is a 45% hike.

[Meagan Coyle]

And the authorized user fee is going up to $195.

[Sally French]

Just a heads up, the new version of this card will be available on June 23, 2025.

[Meagan Coyle]

If you already have the card or applied for it prior to June 23rd, you will get these new benefits and features starting October 26th, 2025. And your annual fee will go up to $795 on your next card anniversary following that date.

[Sally French]

To lessen the blow of the annual fee increase, they have changed the points earnings and then they added a bunch of style credits.

[Meagan Coyle]

Really taking the lead from Amex with those coupon book style statement credits. They also change the way you redeem Chase Ultimate Rewards points.

[Sally French]

Okay, Meghan, let's talk about those new credits first. Because that to me stands out as the biggest changes here.

[Meagan Coyle]

Yeah, should I just list them out?

[Sally French]

Yeah, just like boom, boom, boom, rapid fire, the big ones. Then maybe we talk about the spiciest ones after.

[Meagan Coyle]

Okay, that sounds good. So the standouts to me are.

[Sally French]

I feel like I should say on your mark, get set, go.

[Meagan Coyle]

All right, I'm going. $500 annual the Edit credit, $300 annual dining credit and primetime reservations at Chase Sapphire Res Reserve exclusive tables. 250 annual value through complimentary subscriptions to Apple TV plus and Apple Music. 300 annual Stub Hubs credit on concert and event tickets. Those join existing credits including an annual 300 travel credit, a once every four years global entry, TSA pre check or Nexus application fee statement credit which is worth up to 120.

[Sally French]

Dude, Megan, that was pretty good. We should get you a job as an auctioneer.

[Meagan Coyle]

I'm practicing. I'm practicing.

[Sally French]

Okay, but I want to say do not forget my favorite existing benefit. That is the complimentary DashPass subscription alongside a semi complicated assortment of doordash discounts including up to $5 off monthly on doordash restaurant orders and Then up to $10 off two orders per month on doordash non restaurant orders. Did you get that?

[Meagan Coyle]

Sally does not doordash anything folks. She is totally joking.

[Sally French]

These credits are so complicated. Also, I live three blocks from a Target. I do not understand why I would pay for delivery when I can get it myself. Sure you can do pick up on the restaurant orders to avoid those fees. But for the non restaurant orders, that usually is not an option.

[Meagan Coyle]

I can't stand the delivery fees. I also love grocery shopping, so I don't know why I would let someone else do that for me.

[Sally French]

Also, didn't you get banned from Jordache, Megan? Yeah.

[Meagan Coyle]

Okay, get this. I was working on Another podcast. And to record remotely, everyone needs to have headphones. And we were interviewing a celebrity, and their assistant told me that they literally did not have any headphones anywhere in their entire giant mansion house. So my boss was like, why don't we just doordash them headphones? And I was like, great, okay. And she gave me her expense card and I used it. And I think they thought because our names didn't match that I was, like, trying to do something fraudulent. And so they totally banned me. Like, I can't log in at all.

[Sally French]

That's so weird.

[Meagan Coyle]

The Internet comes up blank. There's literally like one line that's like, entry denied or something. It's really weird.

[Sally French]

This does not bode well for either of us able to use these hypothetical doordash credits.

[Meagan Coyle]

Yeah, I have anxiety just thinking about it. And if I do use it, I have to, like, not log in. So the dash pass is, like, off the table for me.

[Sally French]

Oh, no. And then I just have anxiety anxiety thinking about how to spend three separate DoorDash credits per month, two of which cannot be used at restaurants.

[Meagan Coyle]

Yeah, if you do use them, that's theoretically $300 in annual value worth of monthly doordash promos.

[Sally French]

Megan, I'm saying if you can use it, this is negative $300 in value for the anxiety fair.

[Meagan Coyle]

Okay, let's talk about a new credit that I'm actually curious about. The $500 annual credit to spend at hotels in the Edit.

[Sally French]

Edit is Chase Travel's collection of curated hotels and resorts, Mostly luxury hotels.

[Meagan Coyle]

Yeah, it's similar to amex's Fine Hotels and Resorts program. If you book through the Edit, you'll get some extra perks like daily breakfast, $100 property credit space available, room upgrades, and early check in or late checkout, if that's available. These are basically elite status perks that you can get without the status.

[Sally French]

But don't fall for that $500 figure, people, because annoyingly, this credit is broken out into two semi annual $250 credits. So if you really want to max out this park, you have to book yourself not one, but two separate hotel stays per year over separate periods of six months.

[Meagan Coyle]

That is so annoying. $250 of credit toward a luxury hotel is like half the cost of one night.

[Sally French]

Oh, you know, Megan, I did some research. I looked up where we could stay this weekend on the Edit. So for the night of June 20th, here in San Francisco, they've got the Four Seasons for $583. That night, the cheapest I'm seeing is around $400 this Friday night for the palace hotel right there downtown. I do love that hotel.

[Meagan Coyle]

Again, this credit is not getting you very far, folks.

[Sally French]

Okay? And get this, Megan, this was buried in the fine print. I'm so glad I saw it. You have to stay a two night minimum.

[Meagan Coyle]

Ugh. They're just piling it on now.

[Sally French]

I know.

[Meagan Coyle]

I mean similarly Amex has a two night minimum on their hotel collection hotels which is another similar program to find hotels and resorts. So the two night minimum isn't that surprising. But that's how you end up spending a thousand dollars just to use a $250 credit.

[Sally French]

And also you're only locked in for the two night minimum on the hotel collection. You can one night on the fine hotels and resorts with Amex.

[Meagan Coyle]

I think these luxury hotel programs are all fun, but it can be so easy to overspend. Like sometimes the property credit just won't cover like a full spa treatment or whatever you want. And you order 19 orange juice and suddenly you owe money on that free breakfast that's not free.

[Sally French]

Ultimately this basically comes out to you spending like $1,000 for a two night stay only to save $250. That is not save with Sally approved. This is why I just go away from the luxury hotels. Anyway, Hyatt place has free breakfast. The orange juice is included with this free breakfast. Okay, now I'm hungry for breakfast. Let's take a quick break and we will be right back. Today's episode is sponsored by quints.

[Meagan Coyle]

Let's be real. When you're traveling, you want to pack light and look like you didn't just roll out of the TSA line.

[Sally French]

Right? That's why I am so happy I have discovered quints. Their clothes are lightweight and wrinkle resistant. I would call them high quality basics.

[Meagan Coyle]

And when you're team carry on only you need some high quality basics.

[Sally French]

Oh yes you do. So far I have two dresses from Quints. One is a very classic black dress that I can definitely dress down or dress up with nicer jewelry that's perfect for travel.

[Meagan Coyle]

A little black dress that you can wear to the beach and to dinner.

[Sally French]

Right? And then Megan, you know I love dresses. Way better than trying to tailor pants for my little 4 foot 10 frame. So I also have this great green sundress. Again, this dress is neutral so I can mix it up with a funky jacket or scarf and no one will ever know that I wore the same dress two days in a row.

[Meagan Coyle]

Well, we know because you literally just told Thousands of our listeners.

[Sally French]

Shh. That's a smart travel secret.

[Meagan Coyle]

How's the quality?

[Sally French]

I love that these dresses do not wrinkle, even when I crumple them up in my backpack. No way am I spending travel hours ironing them in my hotel room.

[Meagan Coyle]

I'm really excited for the linen set that I have coming in the mail. Linen is the best summer fabric because it's so light and airy. I wore it all over Italy when I was there this year and I was impressed by the price, which feels about half of what I'd pay for similar quality elsewhere.

[Sally French]

I wear this stuff all the time and you should too.

[Meagan Coyle]

Stick to the staples that last with elevated essentials from quince.

[Sally French]

Go to quince.com smarttravel for free shipping on your order and 365 day returns. That's Q-U-I-N-C-E.com smarttravel to get free shipping and 365 day returns. Quince.com smarttravel.

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[Meagan Coyle]

Going back to dining, let's Talk about that 300 annual dining credit and primetime reservations at Sapphire Reserve Exclusive Tables. This one is also broken out into $150 twice per year.

[Sally French]

You know, Megan, I actually had to Google what Sapphire Reserve Exclusive Tables was. It is basically a curated collection of restaurants. Chase says they can help you get prime time reservations. And much like the edit, this is just a curated list of super bougie restaurants.

[Meagan Coyle]

And though Chase says new restaurants are being added across the US they're really only in major cities. We're talking about the ones you'd expect like New York, Los Angeles, Chicago, Houston, Phoenix, and Philadelphia to name a few.

[Sally French]

Yeah, so if you don't live in one of those major cities, you basically either lose the credit or you have to save it for if and when you're traveling to one of those cities. This to me just feels like an unnecessary planning headache. So I was curious what they have in San Francisco. I will say it is good stuff, but all expensive restaurants.

[Meagan Coyle]

Yeah, I mean, were you expecting the hole in the wall Taco place?

[Sally French]

Okay, well, I will say, have you been to House of prime rib. Because that is on there.

[Meagan Coyle]

No, but that sounds like the most Sally restaurant ever. I knew you'd pick a place with meat so that you could hit your protein target. This makes sense.

[Sally French]

Dude, Hopper is an S of staple food. It's fancy and it's so, so good.

[Meagan Coyle]

Did you call it Hopper?

[Sally French]

Yeah, House of Prime Rib. It's shortened as Hopper. That's how you know you're in the SF club.

[Meagan Coyle]

Got it. So even if you live in that city, this seems like a headache just to to use the credits on this thing. Okay, next up, let's talk about the credits that have some more national appeal, like the complimentary subscriptions to Apple TV plus and Apple Music. I'm actually really excited about the Apple TV plus subscription. I've been pleasantly surprised by a lot of movies and shows on there.

[Sally French]

You know, Megan, this is maybe embarrassing to say, but I could not tell you a single show on Apple TV plus.

[Meagan Coyle]

Come on, you don't know Severance, the studio?

[Sally French]

No.

[Meagan Coyle]

Ted Lasso?

[Sally French]

I've heard of them, but I've never seen this. I've told you this before, baby Yoda or bust. I am not kidding. The only shows I watch are the Star wars shows on Disney. And or season two is all I needed for my TV quota this year.

[Meagan Coyle]

Okay, Disney is not the only place to watch sci Fi, so I'm just saying you're really missing out.

[Sally French]

Okay, and then the final really notable credit is an $150 twice a year StubHub credit that's to be used for concerts and event tickets. Again, twice a year is way more annoying than $300 in one go.

[Meagan Coyle]

And then there are still a bunch of other credits that we won't dig into too much. There's a new peloton credit. Oh, and by the way, this card comes with IHG1 rewards Platinum Elite status through December 31, 2027. So that's kind of interesting and different. You can see the full slate of changes in the article. We'll link in the episode description. Oh, and speaking of fine print, we should tell listeners that many of these benefits require activation.

[Sally French]

Yeah, so for many of these credits, you have to go in and click a button and then opt in. So you can't just buy a ticket on StubHub with your card and assume you'll get the statement credit. You have to go in separately and then activate this benefit.

[Meagan Coyle]

This is something you have to do on other cards as well. Another annoying thing. We could say annoying like 100 times this episode.

[Sally French]

Yeah, but honestly, I Think a lot of people make this mistake and then they buy the concert tickets that maybe they wouldn't have bought otherwise, but they're like, oh, it's free. And then they don't get the credits. So don't make that mistake, people. You heard it from us on Smart Travel.

[Meagan Coyle]

We should talk about some of the existing benefits like priority pass and travel insurance. My favorite is the existing $300 travel credit. That one is still there for our Chase Sapphire Reserve loyalists.

[Sally French]

Well, you said we should make annoying the word of this episode. I will say this credit is actually not annoying. The 300 travel credit on this card is honestly my favorite credit in the whole world of premium travel credit cards. It's super easy to use, unlike the rest of these new credits. None of those weird monthly credits broken up. This is just an easy 300 to spend annually on travel purchases.

[Meagan Coyle]

The most important thing is it's automatic. It also covers such a wide range of travel, you don't have to book it through the portal. It could be an airline purchase, a hotel purchase, but it also could be something like toll bridges, limos, parking garages, buses, and trains.

[Sally French]

Shout out to trains. You know, I love BART here. My Bay Area train.

[Meagan Coyle]

Yep, credit card holders really just need to strategize. It is probably unrealistic for most people to use all of the credits on this card, but can you use enough that you'll offset the annual fee? The 300 annual travel credit kicks in automatically, so subtract that from the annual fee and you've got $495 left. Could you max out the edit credit? Can you ball out on some concert tickets through StubHub twice? Do you need to renew your global entry? There's a lot of ways that you could kind of make up the other portion of that annual fee.

[Sally French]

And a lot of ways you could just have anxiety. The catch with these things is often I end up spending more money than I ever did just to max out that value. And especially depending on where you live, so often those people in the Midwest, it can be harder to squeeze maximum value out of it.

[Meagan Coyle]

And we haven't even touched the value you might get from redeeming your points. So let's go over some of the changes to earning and redeeming points.

[Sally French]

Okay, let's start with earning. All right, so as far as earning goes, you'll get 8x points on all Chase Travel purchases. That replaces the 5x points you earned on flights and 10x points on hotels and car rentals booked through Chase Travel. Tldr it nerfs earnings on car rentals and hotels, but ups it for flights. Again, these are things booked through Chase.

[Meagan Coyle]

Travel, and we often recommend booking direct so you can earn both Chase Ultimate Rewards points and points with an airline or hotel loyalty program. So for flights and hotels booked directly, you'll now get 4 points per dollar on those purchases, up from the old 3 points per dollar.

[Sally French]

So that is good news for those things. The other good news is that 8x points on Chase Travel means you can get points for other types of travel purchases through Chase Travel. I'm thinking about things like cruises, which are only now appearing on Chase's travel portal. And we can link to my story on that in the episode description.

[Meagan Coyle]

The other big Nerf spending on all other travel not through Chase and not directly with airlines or hotels is dropping from 3 points per dollar to 1 point per dollar. So that's stuff like booking through OTAs, like Expedia.com or just any other type of travel.

[Sally French]

When I just said shadow trains, I like San Francisco Public Transit, and that was covered by the 3x points. Even though you'll still get the 300 statement credit, if you charge, say, your public transit to it, you only earn one point.

[Meagan Coyle]

Beyond that, that's a huge downgrade for other things like cruises. If you put a lot of your travel spending on this card, you won't earn the 3x points. It'll now just be one. Next.

[Sally French]

They're basically like forcing you to book three chase travel.

[Meagan Coyle]

Yeah.

[Sally French]

Okay. And then let's talk about all the changes to redeeming points.

[Meagan Coyle]

Now, where this card really stood out before was with redeeming the points, because you could redeem a Chase Ultimate Reward Point for 1.5 cents apiece on the CH travel portal.

[Sally French]

And that was so good.

[Meagan Coyle]

Yeah, I mean, Most are like $0.01 or even less sometimes. Now, for existing cardholders, points earned prior to October 26, 2025, that's this year, are only eligible for that redemption rate until October 26, 2027. So you have two years to try to get that rate on your future travel bookings through the portal.

[Sally French]

And I feel like if you have a bunch of Chase points, you might want to just start spinning them down and dial down your balance before October 2027. That's because for all other points and for new card members, Chase is switching to this thing called Points Boost. With Points Boost, that means Chase Travel purchases will only be worth $0.01 apiece unless you book it with a type of travel eligible for what Chase calls Points Boost. Where they will be worth 2 cents apiece.

[Meagan Coyle]

Why do you keep saying points boost like that? Points booze.

[Sally French]

Why do they call it Points Booth? Like bonus points or something normal? Yeah, they're trying to make it exciting. And here's the thing, Meghan, it is not.

[Meagan Coyle]

I mean, it's actually a huge blow to this card because now you have to go searching for the points boost eligible trips and it might not be the one you want to book.

[Sally French]

Right.

[Meagan Coyle]

I really like that. Before, redeeming points was so straightforward. And again, that redemption rate beat the value of other credit card points in other issuer portals. We should also note that this points boost is coming to not just the Chase Sapphire Reserve, but also the Chase Sapphire Preferred and the Chase Inc. Business Preferred. So this isn't like an exclusive cool thing for the Chase Sapphire Reserve. It's like everyone has a Chase Sapphire card or Ink card will have this.

[Sally French]

And you know, I will say, if you like the options available for points boost, that could make those other lower annual fee cards more attractive as the possibility to get $0.02 per point is now not going to be exclusive to the Chase Sapphire Reserve.

[Meagan Coyle]

Okay, so let's talk about the signup bonus.

[Sally French]

Right now Chase has not said whether the bonus will change when the product relaunches.

[Meagan Coyle]

Right. But we should still talk about how a sign up bonus offer could factor into your decision making.

[Sally French]

Okay, so this might be a hot takeoff, but I really don't try to factor in the welcome offer when I judge a credit card.

[Meagan Coyle]

Interesting, because I feel like that's the first rule in trying to reach the next level of using points and miles. You want to get it when the signup bonus is high, right?

[Sally French]

I totally hear you. Those people are called churners. These are people who apply for a good signup offer just to get the points. Then they cancel the card as soon as they can after they do. Here's the thing. I like to recommend that people have a card they hold on to for many years. And especially with a card like this, with a $795 annual fee, it is way more important to factor that in as that is something you will be paying every year. And then you really only get that huge windfall of points once.

[Meagan Coyle]

I see what you're saying. And for me, the signup bonus doesn't really decide whether I get the card, like whether I'll pay the annual fee, but when I get it. So if it has a massive bonus, then that's when I want to apply for the car.

[Sally French]

Okay, I do agree with you. There. So if you are thinking about all those credits and you are like, I love my Apple TV, I love my DoorDash. I do three DoorDash orders a month and two of them are at grocery stores. Then let's go. Then I look at some of these other superfluous credits like the stay at the Palace Hotel, maybe the dinner at the House of Prime Rib. Then I would say applying for the card and getting the sign up bonus is the cherry on top.

[Meagan Coyle]

Right. So you'll have to see what the bonus offer is when the card relaunches and make your decision. Luckily, you'll have some time to weigh the pros and cons. Honestly, that's why we did this episode today.

[Sally French]

Well, I think that leads into the question everyone is thinking, what do I do now? If you don't have it, do you apply? If you do have it, do you cancel?

[Meagan Coyle]

Let's spell out where we're both at. So you used to have this card, but I've never had this card.

[Sally French]

I am og. I applied for this card way back in the day when the annual fee was just $450. And then keep in mind, there was that 300 travel credit. So I looked at it as really just having an $150 annual fee. And then, you know, I love my lounges, so I easily justified that with priority pass lounge access.

[Meagan Coyle]

So that was when priority pass lounges were cool and they weren't overrun tbt.

[Sally French]

When priority pass lounges were actually good. So I ended up downgrading that to a Freedom card when the annual fee went up to $550.

[Meagan Coyle]

And now it's going up to $795. So what should people do? The way I see it is you have a couple of options. Number one, you can keep it if you think you can still stomach the annual fee. We went over some of the new benefits. You can decide whether that's worth it for you. Number two, you could downgrade it to a no annual fee Chase card like Sally did previously. That will preserve the credit history of your card. And that's good because the longer your accounts are open, the better for your credit score.

[Sally French]

It's really easy to downgrade. All you have to do is you just like call Chase and you just say, hello, I would like to downgrade to a Freedom or any other no annual fee Chase card.

[Meagan Coyle]

You do have to call them though, which I know is scary for some people, but I really had no issues with it. Number three, you could consider getting or keeping some of the alternatives instead so we'll cover a few of the other alternatives here. But if you really want to drill down into the numbers, then check out Nerd Wallet's list of the best travel credit cards. You can compare all the benefits of each card, including their annual fee, rewards breakdown, and Nerd Wallets take, and we'll put a link to that in today's episode description.

[Sally French]

But can we just talk about some of these alternatives? Like the best ones?

[Meagan Coyle]

Yeah. So, Sally, you and I have what is easily the closest competitor to the Chase Sapphire Reserve, the Platinum card from American Express.

[Sally French]

And these cards are similar in that they have super high annual fees at this point. This is bananas. The Platinum card is now cheaper. I never thought I would say that. It has a $695 annual fee and then again, all sorts of statement credits to expensive places.

[Meagan Coyle]

Yeah. They also both have lounge access. We didn't really talk about this much yet, but there are only seven lounges in the Chase Sapphire Lounge Network right now with the Platinum card from American Express, the lounge network is way bigger. There are almost 25 centurion lounges in the world. Plus AMEX Platinum card holders get access to Delta Sky Clubs when they're flying Delta. And there are a few other lounges you get access to as well. So for the lounge access alone, this card is amazing.

[Sally French]

Yeah, it's way better. Like I will say, there's an AMEX lounge in San Francisco, but not a Chase Lounge. So that's already kind of a good choice for me.

[Meagan Coyle]

Yeah. We should point out that the Chase Lounge network is growing, though.

[Sally French]

Yes, it is. Building one in Dallas Fort Worth. That's news. And then they've already announced that they are building one in Las Vegas and one in lax. That'll be good for you, Megan, since you and I both agree, the Centurion Lounge in LAX is one of our least favorite of the Centauri lounges.

[Meagan Coyle]

Yes. I really don't like their food. Like, the salad is so sad. The cookies aren't good. The hot food is just, like, really uninspired to me.

[Sally French]

You know, for me, it's the low ceilings that get to me.

[Meagan Coyle]

Yeah, it really has sad cave energy in there. Those new Chase lounges, though, are super nice. I went to the one in San Diego when it opened, and it's so bright and airy. There's a wall full of windows. The food has a lot more variety because they have both a buffet and a la carte items that you order at your table, and they have complimentary facials. Is amazing.

[Sally French]

Did you Get a facial?

[Meagan Coyle]

Oh, of course. You bet. It has this, like, skin analysis. Like, it's so great.

[Sally French]

Oh, so bougie.

[Meagan Coyle]

You cannot get that kind of service at a Centurion Lounge. They've really gotten rid of most of their spa services.

[Sally French]

Well, if you are debating between these two cards, my key advice would be just consider what airport you live near. You can actually search both of these cards and then their airport lounge access. So San Diego has a Chase lounge and it does not have a dedicated Centurion lounge. So maybe my San Diego peeps a Chase card would work better for you.

[Meagan Coyle]

Or if you fly out of Washington Dulles, you might choose the Capital One Venture X. Oh yeah.

[Sally French]

Okay, let's talk about this card in the team group chat. I feel like everyone just kept saying this makes the Venture X look so much better.

[Meagan Coyle]

Oh yeah. I mean, the annual fees, like half of the new Chase Sapphire reserve fee. It's only $395 for the capital One Venture X, but it also comes with a $300 annual travel credit that you have to book through the portal and 10,000 anniversary bonus miles. So it's just much easier to justify that $395 annual fee.

[Sally French]

Way easier to spend than those doordash credits.

[Meagan Coyle]

I'm still mad about the changes to the Capital One Lounge guest access though.

[Sally French]

Sorry.

[Meagan Coyle]

For me, that really made this card stand out from everyone else. And I also don't think Capital One's transfer partners are as good as Chase's, especially if you're more of a novice at points and miles. You might not have heard of some of these airlines and hotel partners.

[Sally French]

I do think you're in it for the small plates at the Capital One Lounges.

[Meagan Coyle]

You caught me. I love, I mean, those little tiny black cast iron looking pots of Mac and cheese, like the grab and go food section. The Capital One lounges were designed for travelers, and the Centurion Lounge at LAX was designed for cavemen. Oh, I said it. Sorry.

[Sally French]

Let's break it down. Does the Chase Sapphire Reserve change mean anything to you?

[Meagan Coyle]

You know, I actually just got the Chase Sapphire preferred the $95 annual fee card with the 100k sign up bonus in the spring.

[Sally French]

Dude, that was good.

[Meagan Coyle]

Yeah, that was awesome. I can only pay so many annual fees. I already pay the annual fees on the Amex Platinum and the Capital One Venture X, and that pretty much maxes out my budget for high annual fees.

[Sally French]

Dude, can I add in one more hot take?

[Meagan Coyle]

Okay, go for it.

[Sally French]

When people have these cards and they're like, I have so much free travel. I travel for free. I spend zero money on travel. And then I'm like, wait, you have all three of these cards. You do not spend $0 on travel.

[Meagan Coyle]

You actually spent like $1,500 on travel ahead of time. All right, well, that is our show. We are so excited to hear what you think about the Chase Sapphire Reserve changes and points boost.

[Sally French]

How do you say it?

[Meagan Coyle]

Points boost.

Points boost.

[Sally French]

Okay, Okay. I really want to know what people think about these changes. If you have opinions, email us@travel nerdwallet.com or leave us a voice memo with your take.

[Meagan Coyle]

You can also leave us a comment. And typically when you comment, your favorite podcast app will ask for a review. Like Stars.

[Sally French]

We do love five stars. However, we take all levels of stars. Five stars is a preference though, if you would be so generous.

[Meagan Coyle]

It is the currency of our show. If we get those five star reviews, we get to keep making this show and that's what we love doing most.

[Sally French]

It is true. And if you don't get every episode already, make sure to follow Smart Travel on your favorite podcast app, including Spotify, Apple Podcasts, and iHeartRadio to automatically download new episodes.

[Meagan Coyle]

This episode was produced by Tess Viglen, Claire Sosi and Hilary. Georgi helped with fact checking and Nick Karisimi mixed our audio.

[Sally French]

And here's our brief disclaimer. We are not financial or investment advisors. This info is provided for general educational and entertainment purposes. It may not apply to your specific circumstances.

[Meagan Coyle]

We hope you're inspired to keep your passport full and your wallet even fuller. Thanks, everyone. We'll see you next week.

[Sally French]

Points Boost SA.