Big Spenders Have Banks Raising Points, Prices on Premium Cards

Sales are slipping at McDonalds. Airlines are worried that travelers will cut back as well. Consumers are falling behind on credit-card payments at the fastest pace in more than a decade.

But sticker shock has yet to register for the residents of America’s affluent suburbs and downtown condos, the target audience for the newly revamped—and more expensive than ever—Chase Sapphire Reserve credit card.

JPMorgan Chase raised the annual fee on its luxury card to $795 this week, a 45% jump that makes it among the most expensive on the market – for now. American Express has announced a forthcoming major ...