Chase Increasing The Annual Fee To $95 From $85 For Some Chase Sapphire Preferred Cardholders

The standard annual fee on the Chase Sapphire Preferred card is $95, some cardholders currently pay an annual fee of $85 as they signed up when the card was first made public. That is set to change with Chase sending out letters informing cardholders that their annual fee will be increased to $95. The Value Traveler received such a letter and was informed that he has until 8/20/17 to contact Chase to reject the change, if he does then the card will be cancelled.

If cardholders don’t want to pay the increased annual fee my suggestion would be to product change it to another Chase card instead, such as:

• Chase Freedom (5x rotating categories & no annual fee)
• Chase Freedom Unlimited (1.5x points on all purchases & no annual fee)
• Chase Sapphire Reserve ($450 annual fee, $300 travel credit based on card member year now & 3x points on travel/restaurants)

You can view all the product change options and rules for each card issuer by clicking here. This increased annual fee change won’t affect many readers as few still have the $85 annual fee.