JPMorgan, the biggest U.S. bank by assets, shook up the card industry with the launch of the Sapphire Reserve almost a decade ago.

The long-running rivalry between the country's top premium credit cards is about to heat up again.

JPMorgan, the biggest U.S. bank by assets, shook up the card industry with the launch of the Sapphire Reserve almost a decade ago.

The price jump is part of an ongoing shift for credit card companies and airlines toward premium rewards and high-end travelers.

JPMorgan Chase is banking on a slew of new travel rewards to justify a massive annual fee increase of 45% on its popular premium credit card, Sapphire Reserve.