The Sapphire Reserve for Business will also be adopting the new Points Boost accelerator, which will allow cardholders to redeem their Ultimate Rewards® points for up to 2X value on select airline tickets and hotels booked through Chase Travel. Otherwise, it's a fixed 1 cent per point.

Chase made news recently as it announced huge changes to its premium Sapphire credit card. Now, the bank has confirmed changes to who is eligible for welcome bonuses across its range of Sapphire consumer cards.

This premium travel card just got a big overhaul -- along with a huge fee increase. Here's how to tell if it's still worth it, or if it's time to switch.