The Chase Sapphire Reserve® remains one of the most popular premium credit cards in the U.S., now carrying a $795 annual fee. Given the high cost to hold onto the card following its recent refresh, cardholders need to make the most of its benefits—like earning valuable points and maximizing redemption options—to truly get their money’s worth.

Chase has changed the way you can redeem your Chase Ultimate Rewards® points for travel booked through Chase. But, unfortunately, it’s not always a good deal. Here’s what you need to know.

Previously, Chase Sapphire Reserve cardholders could redeem their points at a fixed rate of 1.5 cents per point. However, as of June 23, 2025, new Sapphire Reserve cardholders can now only redeem their points at a reduced value of 1 cent per point through Chase Travel. While it’s a devaluation of Chase Ultimate Rewards® points at their standard rate, there’s a new redemption option called Points Boost.

Through Points Boost, you can get up to 2 cents per point in value—but the exact value you’ll get will depend on your card and type of trip you’re looking to book. For example, cardholders of the Chase Sapphire Reserve will be able to redeem their points for 2 cents apiece on select hotel bookings, including The Edit℠ by Chase Travel, as well as flights with select airlines.

However, other redemptions may only get you 1 cent or less than 1.5 cents per point in value, which would be a poor-value redemption.

Depending on when you got your Sapphire Reserve card will determine if—and when—you’re eligible to use Points Boost. If your Sapphire Reserve account was opened before June 23, 2025, the points you earn prior to October 26, 2025, can still be redeemed at the old rate (1.5 cents per point on Chase Travel purchases) until October 26, 2027. Additionally, you’ll still have the option to use Points Boost to redeem for up to 2 cents per point on select Chase Travel purchases.

For new cardholders who signed up for the Sapphire Reserve on or after June 23, 2025, Chase Travel redemption rates will drop to the new standard 1 cent per point in value. However, if your redemption is available with Points Boost, you’ll be able to redeem for up to 2 cents per point in value—if your purchase meets Chase’s qualifications. 

The new Sapphire Reserve for Business℠ card also follows these same redemption rules. For cardholders of the Chase Sapphire Preferred® Card and Ink Business Preferred® Credit Card, meanwhile, you’ll get up to 1.5 cents per point in value for select hotel bookings, and up to 1.75 cents per point in value on flights with select airlines.

Whether Points Boost is a good deal depends on how you book your travel. If you’re booking hotels with your Sapphire Reserve through The Edit by Chase Travel or flying with particular airlines, you might get solid value out of Points Boost. In fact, up to 2 cents per point. But for most people booking regular trips, you’ll probably only get 1 cent per point in value. That’s a downgrade from the standard 1.5 cents per point on Chase Travel the card used to offer.

Transferring points to airline and hotel partners like World of Hyatt or United Airlines still often represents the best use of your points.

Points Boost isn’t a total bust: It can be solid for some travel. But, on the whole, it replaces a consistent 1.5-cent value with a hit-or-miss system that could undervalue your points significantly. Use Points Boost selectively, keep Chase transfers in your toolkit and double-check before redeeming.