JPMorgan Chase Unveils New Sapphire Reserve Perks—And So Is American Express With Its Amex Platinum

JPMorgan Chase has introduced a range of new perks for its Sapphire Reserve card, in a bid to retain its customer base and appeal to high-spending users. The move comes as rival American Express also announces significant upgrades to its Platinum card, intensifying competition in the premium credit card space.

JPMorgan Chase Enhances Sapphire Reserve with £2,000+ in Annual Benefits

On its official website, JPMorgan Chase outlined the expanded benefits for its flagship Sapphire Reserve card. However, these improvements come at a cost. The annual fee is set to rise to £590 ($795), marking a 45% increase—the steepest adjustment since the card's launch in 2016, according to CNBC.

Despite the higher fee, JPMorgan claims cardholders can now access over £2,000 ($2,700) in annual value through a mix of existing and new travel and dining benefits.

Among the highlights is a new £371 ($500) annual credit for bookings at partner hotels and resorts through a revamped redemption programme, which also doubles the value of points for selected travel purchases.

Cardholders will also receive a £223 ($300) restaurant dining credit, exclusive to members of the Sapphire Reserve Exclusive Tables programme.

Additional perks include a £223 credit for purchases made via Viagogo or StubHub, and complimentary annual subscriptions worth £186 ($250) to Apple Music and Apple TV+.

The upgraded Sapphire Reserve card is scheduled to launch on Monday, 23 June 2025.

American Express Ups the Ante with Amex Platinum Enhancements

Not to be outdone, American Express announced a parallel expansion of benefits for its Platinum card, covering both the US Consumer and Business variants. The company unveiled the changes on Monday, 16 June 2025.

Amex's enhancements focus heavily on luxury travel and fine dining. The card issuer plans to open three new Centurion Lounges by 2026, located in New Jersey, Utah, and Japan, significantly expanding its exclusive airport lounge footprint.

In collaboration with dining partner Tock, Amex will also introduce 7,000 new restaurant experiences, allowing Platinum cardholders priority access to tables in top-tier establishments.

These updates aim to elevate the Amex Platinum to meet the evolving demands of high-end travellers and consumers seeking premium lifestyle benefits.

Sapphire Reserve vs Amex Platinum: Which One Should You Choose?

While both cards offer enhanced features, they cater to different user preferences.

Sapphire Reserve is ideal for those seeking flexibility in points redemption and a simpler approach to travel rewards. Its strong value proposition lies in straightforward credits and broader redemption options.

In contrast, the Amex Platinum appeals to consumers who prioritise luxury travel, with exclusive lounge access, elite dining opportunities, and an overall premium experience.

As the credit card rewards war heats up, consumers are encouraged to review their spending habits and lifestyle preferences before committing to either card.