This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Disclosure, visit this page. The Chase Sapphire Reserve® is getting new benefits update and not losing any current perks. But its annual fee is also increasing to start off 2020. Let’s take a look at everything that’s changing.You now get free Lyft Pink access which includes free bike and scooter rentals with the Chase Sapphire Reserve benefits update. Credit: PexelsNew Chase Sapphire Reserve Benefits UpdateLyft users will benefit from the most from the new travel perks. All of these new benefits become available on January 12, 2020, for all new and current cardmembers of the Chase Sapphire Reserve®.One Free Year of Lyft PinkLyft Pink is a relatively new premium membership service Lyft offers its U.S. riders. Membership regularly costs $19.99 per month and all Sapphire Reserve members get one year of free access.That’s an annual upfront savings of $239.88. You can enjoy these Lyft perks:15% off all Lyft rides in the USFree bike and scooter rentals in select US cities (3 free 30-minute rentals each month)Priority airport pickupsUp to 3 waived cancellation fees per monthWaived lost and found return feesYou can also receive special Lyft Pink member discounts. Sample discounts include premium mode discounts (i.e., Lux or XL), seasonal offers, and partner offers.Earn 10x Ultimate Rewards on Lyft PurchasesAll Lyft purchases earn 10 Ultimate Rewards per $1 spent. Rideshares from Lyft competitors will continue to earn 3x Ultimate Rewards like all other travel and dining purchases. Note that the 3x points for travel don’t go into effect until cardholders have spent $300 on travel.$60 in DoorDash CreditsYou will receive $60 in annual DoorDash credits for 2020 and a second $60 credit for 2021. If you use DoorDash to deliver food to your home, office, or hotel room, this credit can reduce your dining budget. Chase will automatically apply these credits to your first DoorDash purchases each year.Food delivery app purchases like DoorDash also earn 3x Ultimate Rewards points as Chase considers them a “dining” purchase.One Free Year of DoorDash DashPassThis perk was announced shortly before the various Chase Sapphire Reserve benefit updates. All Chase Sapphire Reserve and Chase Sapphire Preferred cardholders get 12 months of free DoorDash DashPass.Normally you pay $9.99 per month for a DashPass. This perk waives the $4-$5 delivery fee on orders of at least $12.$550 Annual FeeAlright, now let’s cover the bad news. The new Chase Sapphire Reserve® annual fee is going to be $550.This is the same fee as the Platinum Card® from American Express (compare the Chase Sapphire Reserve vs American Express Platinum to see if the fee is worth it). If you apply on January 12, 2020, or later, the annual fee will be $550 for all new accounts. This is the day when the new benefits go into effect.The signup bonus remains 50,000 bonus Ultimate Rewards points after spending $4,000 in the first 3 months. This bonus is worth up to $750 in award travel.Related Article: Credit Score Needed for the Chase Sapphire Reserve$450 Annual Fee for Some Existing CardholdersIt’s possible the annual fee will remain $450 for some existing cardholders. The new $550 annual fee doesn’t take effect for current Chase Sapphire Reserve® members until April 1, 2020. If your card renews during the 1st quarter, it will renew at $450 yet you still have access to the new Lyft and DoorDash benefits.Your annual fee will be $550 if your card renewal date is on or after April 1, 2020.If you don’t want to pay the higher $550 annual fee, you can contact Chase. You will need to request to downgrade to a Chase Sapphire Preferred® Card. Your annual fee will be $95 instead.You can compare the Chase Sapphire Reserve vs Chase Sapphire Preferred review to find out which is best for you.Existing Chase Sapphire Reserve BenefitsAll Chase Sapphire Reserve cardmembers will continue to enjoy these Chase Sapphire Reserve perks and benefits:$300 annual travel creditPriority Pass Select airport lounge accessGlobal Entry or TSA PreCheck application fee credit50% award travel redemption bonus1:1 airline and hotel point transfersPrimary rental car insuranceTrip cancellation/interruption insurance of up to $20,000 per tripSummary of the Chase Sapphire Reserve Benefits UpdateThe Chase Sapphire Reserve is still one of the best premium travel credit cards. However, a $100 annual fee increase should make anyone reevaluate if the benefit upgrades are worth the extra cost. If you love Lyft and DoorDash, the new perks can be an easy win to score more travel and dining rewards.Learn more: Chase Sapphire Reserve ReviewFAQsWhat is the new Chase Sapphire Reserve annual fee?The new annual fee for the Chase Sapphire Reserve® is $550.This new fee goes into effect on January 12, 2020, for all new card accounts. Existing cardholders will pay the new fee when their card renewal is on or after April 1, 2020.What are the Chase Sapphire Reserve Lyft benefits?All Chase Sapphire Reserve cardholders will get these Lyft benefits starting January 12, 2020:One free year of Lyft Pink ($19.99 monthly savings)Earn 10 Ultimate Rewards per $1 on Lyft purchasesWhat are the Chase Sapphire Reserve DoorDash benefits?The new Chase Sapphire Reserve DoorDash benefits are:Annual $60 credit on DoorDash purchases ($60 in 2020 and $60 in 2021)One free year of DoorDash DashPassRelated Articles:Best Credit Cards for Dining and Restaurants 20204 Easy Ways I Earned 200,000 Chase Sapphire Reserve Points in a YearDoes the Chase Sapphire Preferred Offer Lounge Access?
