The points and miles landscape is shifting, and several major credit cards are undergoing significant changes—some positive, some more limiting. Whether you’re just getting into this hobby or you’ve been maximizing your rewards for years, staying informed helps you adjust your strategy and continue traveling for much less.

Here’s a breakdown of the most important updates to keep on your radar.

Big Changes to the Chase Sapphire Reserve®

Chase is rolling out a major overhaul of its flagship premium travel card, the Chase Sapphire Reserve®. Here’s what’s changing:

What’s New:

• Improved rewards: Higher earning rates on travel-related spending
• Travel redemptions updated: Changes in how points are valued when used through Chase Travel
• New statement credits: Over $1,000 in potential value each year across categories like rideshares, streaming, and food delivery

What to Watch:

• Annual fee increase: The fee is jumping from $550 to $795
• Timeline:
  • Changes took effect on June 23, 2025
  • Existing cardholders will see the new benefits and fee starting October 26, 2025, on their next renewal

If you’re already holding the card or have been considering it, the added perks may offset the fee—but only if you’ll use them.

Lounge Access Changes for Capital One Venture X

Starting February 1, 2026, Capital One is updating lounge access benefits on its Venture X card. This affects both Capital One Lounges and Priority Pass access.

What’s Going Away:

• Complimentary guest access: No longer available unless you
  • Spend $75,000 or more annually on the card, or
  • Pay guest fees ($45 per adult, $25 per child for Capital One Lounges; $35 per person for Priority Pass)

Authorized Users:

• Authorized users will no longer receive complimentary lounge access
• To restore this perk, there will be a $125 annual fee per authorized user, which includes their own access and guest privileges

These updates may impact families or frequent travelers who previously relied on generous guest policies. However, solo travelers or those who don’t prioritize lounges may not see a significant difference.

Major Overhaul Coming to Southwest Airlines

Southwest is also implementing a series of updates in 2025—some long-requested improvements and some new fees that may take travelers by surprise.

What’s Getting Better:

• Assigned seating: Passengers can now choose seats in advance, including extra legroom options
• Fare bundles: New options (Choice, Choice Preferred, and Choice Extra) provide more flexibility, early boarding, and seat selection
• Credit card perks: Rapid Rewards® cardholders will see new benefits like free checked bags (even though we were already get free checked bags:)) and priority boarding (varies by card)
• Priority boarding for purchase: All customers can now pay for earlier boarding access

What’s Getting Worse:

• End of “Bags Fly Free”: Most passengers will now be charged for checked bags, unless they purchase select fares or hold elite status
• Fare reclassification: The lowest-priced “Wanna Get Away” fares are being rebranded with added restrictions, similar to other airlines’ basic fares
• Reduced points accrual: Lower-priced fares will earn fewer Rapid Rewards® points, while higher fares will earn more
• Expiration of flight credits: Travel credits will now come with expiration dates, replacing the previous open-ended policy

While some travelers will welcome the added control over seating, the end of free baggage and reduced points on budget fares could require a new approach when booking.

Citi Adds American Airlines as a Transfer Partner

Citi recently added American Airlines as a direct transfer partner for ThankYou® Points, a move that gives cardholders new ways to redeem points.

Why This Matters:

• ThankYou Points can now be transferred to American Airlines AAdvantage® at a 1:1 ratio
• Citi is now the only major issuer offering direct transfers to American Airlines
• Eligible cards include the Citi Strata Elite℠, Citi Strata Premier®, and the discontinued Citi Prestige®

This is a valuable addition for anyone looking to use their points for domestic flights, particularly in premium cabins.

Final Thoughts: It’s Still Worth It

Some of these updates may feel like a step back—especially for those who’ve gotten used to generous lounge access or fee-free perks. But even with these changes, travelers who understand how to earn and redeem points wisely are still saving hundreds (or thousands) of dollars per trip.

When you’re using the right card for your spending and redeeming points for high-value travel, you’re still getting far more in return than the average traveler.