Huge changes are coming to the Chase Sapphire Reserve®  starting on Jan 12, 2020. The most significant change is that the card’s annual fee will jump from $450 to $550 — a $100 increase.

Quick overview of changes effective Jan 12,2020:

• Annual fee increase to $550
• One free year of Lyft Pink (retail value of $19.99/month)
• Earn 10x points on all Lyft rides when you pay with the Chase Sapphire  Reserve
• Complimentary DoorDash DashPass 12-month membership
• $120 in Door Dash credits
• Up to $60 in DoorDash credits in 2020 and $60 in DoorDash credits in 2021

New $550 Annual Fee

The new Chase Sapphire Reserve $550 annual fee kicks in on Jan 12, 2020. There’s still time to lock in the $450 annual fee and enjoy the new benefits if you apply before Jan 11, 2020.

Existing cardholders will be able to renew at the $450 annual fee, as long as the card anniversary renewal date is before to April 1, 2020. After April 1, all accounts will renew at the increased $550 annual fee.

Lyft Pink

Lyft Pink is Lyft’s membership program that gives you an elevated Lyft experience with preferred pricing.

Sapphire Reserve cardholders must activate the Lyft Pink membership via the Lyft app to qualify.

Lyft Pink:

• Retail value: $19.99/month or $239.88/year
• 15% savings on all car rides, priority airport pickups, surprise offers, relaxed cancellations, and more

Earn 10x on Lyft Rides

Now through March 2022, Sapphire Reserve cardmembers will automatically earn 10x total points every time they use their card for a Lyft car, bike, or scooter.

Chase Sapphire Preferred cardmembers will earn 5x total points on Lyft rides.

Lyft gift card purchases do not qualify for the increased multipliers.

DoorDash DashPass Membership

With the new Chase x DoorDash partnership, select Chase credit cards will receive significant discounts on the DashPass membership.

Both the Sapphire Reserve and the Sapphire Preferred members will receive a complimentary DashPass for at least one year.

To register for DashPass, add your eligible card to the DoorDash app and click to add the offer anytime between now and Dec 31, 2021. Membership is valid for 12 months from the date of activation. For example, if you activate the complimentary DashPass in June 2020, it'll be free until June 2021.

Activate your DashPass membership here: https://www.doordash.com/dashpass-v2/Chase/card/

$120 DoorDash Credits

Starting on Jan 12, $120 in DoorDash credits will be automatically issued as statement credits of up to $60 in 2020 and $60 in 2021.

You must use the Sapphire Reserve card on the DoorDash purchases to qualify, and no activation is required.

The DoorDash statement credits will automatically be awarded when the transaction is posted to your Sapphire Reserve.

Overall Thoughts

The increased annual fee might be a deal breaker for some cardholders if you can’t maximize the Lyft and DoorDash benefits. If you’re someone who’s locked into the $450 annual fee for another year, it’s worth keeping the card to test drive the new benefits.
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