JPMorgan Chase raises fee on popular Sapphire Reserve credit card

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JPMorgan Chase raises fee on popular Sapphire Reserve credit card
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JPMorgan Chase & Co said on Wednesday it was raising the annual fee for its popu...

FILE PHOTO: A sign is seen outside the headquarters of JP Morgan Chase & Co in New York, United States, September 19, 2013. REUTERS/Mike Segar

The largest U.S. bank said in the statement that the price increase comes as it expands its program of travel rewards and ways to earn points. More than 40 million U.S. households have a credit card from JPMorgan, which comprises about 19 percent of the market, executives have said.

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