Rumored Changes for Chase Sapphire Preferred/Reserve: Annual Hotel Credit, Up to 10X on Chase Travel Purchases, 3X on Groceries and More

Rumored Changes for Chase Sapphire Preferred/Reserve

We just saw American Express make some big changes to the Amex Platinum Cards. Now it looks like Chase is also taking similar steps to update its two most popular cards, the Chase Sapphire Preferred and Chase Sapphire Reserve. The information about the possible changes comes from two agreement documents that were reportedly leaked back in May. The changes described below are set to go into effect on August 15, 2021, if they are actually implemented.  Again, there’s no official confirmation for now if these changes will actually happen or not. I have reached out to Chase for comment.

Below you can find the rumored changes for Chase Sapphire Preferred/Reserve cards. There’s no indication in these agreements whether the annual fees will change or not.

Chase Sapphire Reserve

• 10X points for each $1 spent on hotel accommodation and car rental purchases booked using your card through the Ultimate Rewards Portal (after the first $300 is spent annually on purchases in the travel category)
• 10X points for each $1 spent on Chase Dining purchases booked using your card through the Ultimate Rewards Portal 
• 5X  points for each $1 spent on airline purchases booked using your card through the Ultimate Rewards Portal 
• 3X points for each $1 spent on dining and all other travel purchases
• 1X point for all other purchases
• $300 Travel Credit
• See agreement here

Chase Sapphire Preferred

• $50 Annual Hotel Credit
• 5X points for each $1 spent on travel purchases booked through the Ultimate Rewards Portal
• 3X points for each $1 spent on Chase Dining purchases booked using your card through the Ultimate Rewards Portal 
• 3X points for each $1 spent on streaming services and online grocery purchases (excluding: Walmart and Target and wholesale clubs)
• 2X points for each $1 spent on all other travel purchases
• 1X point for all other purchases
• 10% anniversary points bonus: Each account anniversary year, you’ll earn bonus points that equal 10% of your total spend in points from purchases made with your card during the previous account anniversary year at a rate of 1 point for each $1 spent.
• See agreement here

Guru’s Wrap-up

These documents were first leaked in May, so maybe Chase was getting ready to counter Amex’ changes for the Platinum Cards. We have no information if an annual fee increase is also in the works. But the added benefits sure are exciting if the fee doesn’t go up, and if they actually happen. I would expect the Chase Sapphire Preferred card at least to have a fee increase if these changes happen. In recent days we also saw Citi pull the Prestige card from its site, so maybe they have something in the works as well.

HT: reddit