Chase Sapphire Reserve Cardholders Now Have Higher Interest Rates -- Here's Why

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

The Chase Sapphire Reserve®, a premium travel card competitive with The Platinum Card® from American Express, has bumped up some of its annual percentage rates, or APRs, in response to the Fed raising interest rates. The 0.25% bump on these APRs is directly in line with the national interest rate increase.

The regular purchase APR, which applies to purchases made with the card, has jumped to a 17.24% to 24.24% variable rate. (Previously, it was a 16.99% to 23.99% variable APR.) That means if you don't pay your balance in full each month, you'll see a 0.25% higher interest rate on your remaining balance. If you always pay your entire balance on time monthly, you won't notice a difference.

The cash advance APR for the Chase Sapphire Reserve also went up to 25.24% variable. This is the interest rate that applies to cash withdrawn against your credit line. There is also an up-front cash advance fee of 5% of the transaction (or a $10 minimum). Cash advances are notoriously expensive.

As more interest rate hikes are planned for 2022, it is likely that APRs on this card -- and all others -- will continue to rise incrementally throughout the year.

For more details about this card's luxury travel rewards and benefits, check out our full review of the Chase Sapphire Reserve.

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.