Weekend Edition / Dear Ohad...
Chase is hiking fees. Amex changes are looming. Points are losing value—but only if you’re not paying attention. This week’s #DearOhad tackles the strategy behind the chaos: what to apply for, what to cancel, and how to protect your points before the rules change (again).
I’m hearing Chase is raising the Sapphire Reserve fee to $795. Should I apply now before it’s too late?
—Clock Ticking in Tampa
Dear Clock,
That’s the rumor — and it's not just noise. Screenshots and leaks suggest the new Sapphire Reserve annual fee will hit $795, possibly as soon as June 23, 2025. If you're on the fence about applying, this week may be your last chance to lock in the $550 fee for one more year.
But don’t get FOMO-blinded. Even if you lock in the lower fee, ask yourself: will you actually use the perks? Chase is reportedly adding hotel credits, StubHub credits, and more travel-booking incentives — but that only matters if they match your real-world spend.
ProTip: Apply only if (a) you’ll hit the signup bonus, (b) you’ll use at least half of the rumored new credits, and (c) you redeem your points for 1.5 cents or more. Otherwise, hold back and rebuild with lower-fee earners.
Wait, what’s happening to Chase points? Are they going to be worth less soon?
—Worried in Westchester
Dear Worried,
You're catching on. There’s growing speculation that Chase will phase out the 1.5¢ per point redemption boost through the Ultimate Rewards portal. No official dates, but leaked materials show language like “limited-time” or “boost expires.”
That’s big. The 1.5x multiplier was one of the Reserve’s only fixed guarantees — now it could be replaced with rotating deals and targeted “boosts” instead.
ProTip: If you have a stash of Chase points, start planning real travel redemptions now — especially if you were relying on the portal value floor. After this change, the game gets a lot more variable.
What’s the deal with the new Sapphire Reserve for Business card? Is it worth it?
—Double Dipping in Denver
Dear Double,
Chase is clearly trying to extend the Sapphire brand into the business world, but the details are still trickling in. From what we know, this card will carry a hefty fee — likely matching the personal version — and offer overlapping perks, tailored slightly for business owners.
The danger? Overlapping benefits across cards you already have. If you already hold an Ink Preferred or Amex Business Platinum, the new Sapphire Business needs to beat them on earnings, not just feel premium.
ProTip: Wait for the fine print. If it doesn't offer flexible transfer partners, meaningful multipliers, and a standout signup bonus, it’s just packaging — not power.
Now Amex is getting in on the drama? Are they about to raise fees too?
—Platinum Panic
Dear Panic,
Let’s be clear: nothing has been announced yet. But insiders and card watchers are anticipating a major Amex refresh later this year — likely in the fall — and all signs point to an annual fee increase on the Platinum and Business Platinum cards.
The timing makes sense. Amex has been pouring money into Centurion Lounge expansion, exclusive event access, and restaurant tie-ins. The problem? Many users aren’t touching half the perks — and a higher fee won’t help.
ProTip: If you're up for renewal in the next 3 months, lock it in. If not, wait for the real announcement. Don't pre-panic over hypotheticals. Let the facts land first — then reassess if the card still fits your travel and spend style.
It feels like premium cards are getting worse for people who actually travel. Should I just go back to cash back?
—Disillusioned Hacker
Dear Hacker,
I get the frustration. These cards were built for travelers — but now they’re bloated with lifestyle perks, credits you have to remember to use, and redemptions that require more math than your CFO’s budget spreadsheet.
But don’t confuse complexity with loss. The value is still there — it’s just harder to access. If you travel for work, or run a business with legitimate travel needs, you can still unlock $5,000–$10,000+ annually in flights, hotels, upgrades, and status. But only if you treat points as capital, not coupons.
ProTip: If you’re not redeeming for flights or high-end hotels at 1.5¢ or more, move to a cashback card and simplify. But if you’re willing to be strategic, the points game still has room for power players.
I’m scared to apply for anything now. Are the banks watching my every move?
—Paranoid in Portland
Dear Paranoid,
Short answer? Yes. But that’s not new. Issuers have always watched your credit, your spend patterns, and your product-hopping behavior. What’s different now is that they’re tightening faster.
Chase and Amex are both rumored to be pulling back on easy approvals and generous retention offers. The era of “just apply and ask later” is ending. You need a playbook — not just a pulse.
ProTip: Treat every application as a high-leverage move. Only go for cards that add immediate value or fill a gap. Diversify across banks. And don’t burn a relationship chasing a bonus you won’t maximize.
So what should I actually do this week with my credit card application?
—Action Oriented
Dear Action,
Here’s your short list:
- Chase Reserve: If you’ve been eyeing it, apply before the rumored June 23 fee hike. Otherwise, hold back and watch.
- Amex Platinum: Wait. Don’t apply or cancel until the fall refresh hits and we know exactly what’s changing.
- Chase Points: Start booking now while the 1.5¢ portal value still holds. Prioritize big redemptions.
- Audit your stack: If you can’t extract value from your top 3 cards within 90 days, it’s time to cut or downgrade.
- Plan for Q3/Q4: Build flexibility. Choose cards with transferable points and fewer strings. Position now for a smarter 2026.
ProTip: Points are pressure-sensitive. The best players win by staying calm, collecting information, and making moves on their own terms — not the banks'.
Until next time, may your fees be justified, your redemptions optimized, and your FOMO perfectly timed.
Got a travel disaster, loyalty leak, or card crisis brewing?
Email newsletter@upnonstop.com and let the drama unfold.
