One of the most popular travel credit cards will soon see a 45 percent hike in its annual fee, along with new perks and benefits. These are the pros and cons of the changes, according to points-and-miles pros.

Chase is hiking the annual fee for its Sapphire Reserve credit card to $795, starting June 23 for new applicants and October 26 for existing users. The card will offer expanded points-earning and statement credits,

Chase is initiating a Points Boost program that will double redemption value for points on select flights and hotels booked through Chase Travel℠, the issuer's travel portal. However, on Chase Travel purchases not eligible for Points Boost, the redemption value will be 1:1.