Amex Platinum, Chase Sapphire credit card upgrades to include dining, other perks
JPMorgan Chase and American Express have announced updates to their Sapphire Reserve and Platinum cards, respectively. Credit: Getty Images/LeventKonuk
Two popular credit cards are about to get a refresh.
JPMorgan Chase and American Express both announced updates to their Sapphire Reserve and Platinum cards, respectively.
On Tuesday, JPMorgan Chase said its premium credit card will now offer users more than $2,700 in annual benefits after its launch next Monday, according to an emailed news release. Along with its previous benefits, the card will offer new perks, including a redemption program that doubles the value of points for certain travel offers, and $500 in annual credit for specific hotels and resorts.
The annual fee for the card will also jump to $795, the release said.
Other added perks include a $300 dining credit at participating restaurants, a $300 credit for purchases at StubHub, a free DashPass membership with DoorDash and free subscriptions to Apple TV+ and Apple Music.
Even more benefits are available to customers who spend $75,000 or more per year on the card, according to a news release.
JPMorgan Chase also announced a version of the Sapphire Reserve card for business, the company's "first premium travel-focused credit card for businesses," the release said.
American Express announced Monday that customers should expect "major updates" to its consumer and business Platinum cards later this year in the company's "largest investment ever in a card refresh."
The Platinum card's "benefits and services resonate" especially with Millennials and Gen Z, who made up 35% of U.S. consumer spending last quarter, said Howard Grosfield, group president of U.S. Consumer Services at American Express, in a news release posted online.
While further updates will be announced in the fall, the company has teased new travel benefits, including expanded options through its dining and hotel programs.
The company did not say whether there would be a fee increase. Spokeswoman Elizabeth Crosta declined to share additional details about updates and whether there would be changes to the fee structure.
"As part of our company's strategy, we regularly refresh our products every few years," she said. "We do this on a regular basis to meet the changing needs of our card members."
The Platinum consumer and business cards were last updated in 2021, she said.
These new perks might be especially valuable to frequent travelers, especially those who travel often for business, said Steve Kent, chief economist of the Long Island Association’s Research Institution and associate professor of economics at Molloy University's School of Business.
"If you look at the promotions they're providing, then there is some value there," he said.
Brianne Ledda covers personal finance and affordability for Newsday. She previously covered Southold and Greenport for The Suffolk Times and is a graduate of Stony Brook University.
My Little Pony, Furby making a comeback this holiday season NewsdayTV's Macy Egeland and Newsday family writer Beth Whitehouse have your look at the hottest toys this holiday season.
My Little Pony, Furby making a comeback this holiday season NewsdayTV's Macy Egeland and Newsday family writer Beth Whitehouse have your look at the hottest toys this holiday season.
