Credit card issuers are trying to attract more higher-end customers with the promise of more rewards. But there’s a catch: Annual fees are going way up, too. That could be good news for investors in JPMorgan Chase and other credit card stocks—as well as a top maker of metal cards—even if it’s not ideal for consumers.

The cost to have Chase’s popular Sapphire Reserve travel credit card has increased 77% since it was introduced in 2016. Here’s what to know about the card.