Chase hikes sapphire card fee by 45%

(CNN)– Some JP Morgan Chase credit card customers can expect to see a dramatic increase in fees this fall.

On Tuesday, June 17, the bank announced the annual fee on its sapphire reserve credit card will cost $795 per year.

That’s a more than $200 increase from the current annual fee.

But card users will also get some new perks including a $300 dollar annual credit for tickets bought on Stubhub.

Plus, a $250 yearly credit for Apple Music and Apple TV+.

The new annual fee and benefits for Chase Sapphire Reserve will begin on October 26th.