Chase Sapphire Reserve Credit Card gets a huge facelift: Benefits, annual fees, how to get it

Chase Sapphire Reserve Credit Card: America's largest credit card issuer Chase announced major changes to its Chase Sapphire Reserve card on Tuesday.

Popular among credit card enthusiasts who like to collect points as well as travel enthusiasts, this credit card issued by JPMorgan Chase & Co will now offer extended benefits to its customers – perhaps making it the best one for those who like to travel.

How to get Chase Sapphire Reserve credit card?

Chase Sapphire Reserve credit card is one of the best credit cards for points enthusiasts. And while there is no official word from the company about what exactly is required to get this coveted card, your credit score should be good enough to get a hold of it.

Earnings also matter when you apply for any credit card. In this case, it can be assumed that like all other credit cards, the Chase Sapphire Reserve credit card requires you to earn enough to cover the annual fee and the credit line.

You may be denied a Chase credit card if you’ve opened five or more credit cards in the previous 24 months, according to a report by CNBC.

Chase Sapphire Reserve benefits

With the new look, Chase has unveiled added benefits for its Sapphire Reserve credit card. It has also unveiled a Sapphire Reserve for Business card for customers who spend $120,000 a year.

Customers who book their flights within the Chase Travel portal now earning 8x Ultimate Rewards points, up from 5x previously.

You can also earn 8x rewards on bookings for hotels, rental cars, cruises, activities, and tours.

If you book flights and hotels with the companies' portals through Chase Sapphire Reserve credit card, you can earn 4x reward points, instead of the current 3x.

However, dining purchases will keep earning 3x reward points through the Chase Sapphire Reserve credit card.

The perks further include a credit at a new online store called Shops at Chase. Cardholders will further get special status at IHG Hotels & Resorts and Southwest Airlines.

A new feature called Points Boost, which is set to launch on June 23 for existing cardholders, raises the value of each point from 1.5 cents to 2 cents per point on certain specific airline routes.

Chase Sapphire Reserve credit card fees

With all the benefits in place, the annual fees of the Chase Sapphire Reserve credit card has gone up markedly.

The Chase Sapphire Reserve credit card will now cost $795 a year, up from the existing $550. The new fee rule will kick in on October 26.