Chase Sapphire Reserve®: Review
Is the Chase Sapphire Reserve card worth it?
Yes, the Chase Sapphire Reserve® could absolutely be worth it if you’re in the market for a card with premium benefits and you travel frequently enough to get more than $550 of value out of it.
However, it’s not all sunshine and rainbows. The Chase Sapphire Reserve has a hefty annual fee, and big rewards only roll in after you’ve spent $300 on travel. That means if you plan on spending $325 on travel next year like the average American, that $550 fee might be reaching, and the card may not offer much value.
Chase Sapphire Reserve: Highlights
- The Chase Sapphire Reserve card has a $550 annual fee.
- New cardholders can earn a welcome bonus of 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening (worth $900 when redeemed toward travel through Chase Travel)
- Comes with a $300 annual travel credit
- Earns 10X points on hotels and car rentals through Chase Travel, 5X points on flights through Chase Travel, and 3X points on non-Chase travel purchases (start earning points on travel after the $300 travel credit is spent)
- Points are worth 1.5 cents each when redeemed through Chase Travel
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Airport lounge access through Priority Pass Select
- Comprehensive travel insurance benefits
- This is a metal credit card, so it’s more durable and luxurious than some other options.
Pros and cons
Who is the Sapphire Reserve best for?
The Chase Sapphire Reserve is a handy travel companion for high-earners (and high-spenders) with unquenchable wanderlust and a taste for life’s luxuries. It offers generous rewards and perks for the premium traveler, like airport lounge access, an annual travel credit, and valuable partner benefits.
Chase Sapphire Reserve®: Rewards
Sign-up bonus
You can scoop up 60,000 welcome bonus points with your Chase Sapphire Reserve card if you spend $4,000 on qualifying purchases within three months of account opening. That means you essentially earn $900 for travel purchases via Chase Travel℠ or $600 in cash by just going about your business as usual.
▶︎ See more: Best credit card sign-up bonuses
Earning points
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10X points per dollar on hotels and car rentals purchased through Chase Travel
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10X points on Chase Dining purchases
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10X points on qualifying Lyft rides (through March 31, 2025)
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10X points on Peloton equipment and accessory purchases of $150 or more, with a maximum of 50,000 points (through March 2025)
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5X points on flights purchased through Chase Travel
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3X points per dollar on all other travel (after spending the $300 annual travel credit)
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3X points on all other dining purchases worldwide
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1X points per dollar on everything else
Note: You won’t start earning points on travel until after spending the $300 annual travel credit. The first $300 spent on travel will automatically go toward the travel credit.
Redeeming rewards
With the Chase Sapphire Reserve®, points spent on travel are worth 50% more (1.5 cents each) than other spending options — so 10,000 points would be $150 to spend on travel via the Chase Travel℠ portal.
For everything else, it’s typically 1 cent per point, making 100 points equivalent to $1.
Redeem points for statement credits, gift cards, merchandise and travel through Chase Travel℠, or transfer them to eligible loyalty programs (like United and Southwest) at a 1:1 ratio.
Maximizing your rewards
To maximize the rewards from the Chase Sapphire Reserve, be sure to check the Chase Ultimate Rewards program in advance.
If you’re likely to spend $4,000 within three months of opening an account and regularly purchase flights, hotel stays and rarely cook at home, it’s a shoo-in.
Buy and book as much as you can through the Chase Travel℠ portal, and use Lyft, Peloton, DoorDash and Instacart whenever possible. Our overall advice for maximizing this card? Don’t be a spendthrift and cash points for their travel value.
Chase Sapphire Reserve®: Benefits
Travel benefits
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$300 travel credit. You’d hope a card with a $550 annual fee offsets the expense somehow, and this card does so with $300 of annual travel credit. Every year, the card automatically reimburses travel-related purchases — and the real beauty lies in its versatility. Whether it’s big-ticket expenses like flights and hotels or smaller costs such as train tickets and ride-sharing, this travel credit card is flexible. So, provided you maximize the card’s benefits, you’re essentially paying a lesser annual fee of $250.
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Airport lounge access. Sign up for Priority Pass Select and gain access to its entire network of 1,300 airport lounges, markets, cafes and restaurants for free. This benefit includes access to Sapphire Lounge by The Club locations.
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Application fee credit for Nexus, Global Entry or TSA PreCheck. If you use the Chase Sapphire Reserve to apply for Nexus, Global Entry or TSA PreCheck, you can get reimbursed up to $100 every four years to cover the application fee.
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No foreign transaction fees. The Sapphire Reserve is an ideal card for international travel— you can freely swipe it abroad without worrying about incurring unnecessary expenses on your purchases.
▶︎ See our picks: Best credit cards for Global Entry and TSA PreCheck
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Trip cancellation and interruption insurance. Covers prepaid, nonrefundable travel expenses up to $10,000 per person and $20,000 per trip in eligible situations.
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Trip delay insurance. Reimburses expenses for delays over six hours or requiring an overnight stay, up to $500 per ticket.
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Lost luggage coverage. Covers lost or damaged luggage by the carrier for up to $3,000 per passenger.
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Insurance for medical emergencies. Reimburses medical expenses up to $2,500 if you have a medical emergency more than 100 miles from home.
Hotel benefits
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Earn 10X points on hotel bookings (excluding The Edit hotels) through Chase Travel℠ (after you’ve spent $300 on purchases annually).
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Access to The Edit by Chase Travel℠ (formerly Luxury Hotel & Resort Collection), an exclusive benefit for Sapphire Reserve cardmembers. With this benefit, you can access complimentary room upgrades (if available at check-in), a $100 property credit, daily breakfast for 2, and more.
Car rental benefits
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Earn 10X points. Earn 10X reward points on car rentals booked through Chase Travel after you’ve spent $300 on purchases annually.
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Rental car insurance. Primary rental car coverage with collision damage waiver and theft protection.
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Purchase protection. Covers theft or damage for up to 120 days on individual purchases up to $10,000, with an annual limit of $50,000.
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Return protection. Applies to eligible store-rejected items claimed within 90 days of purchase.
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Around-the-clock fraud monitoring. Get alerted instantly, to help avoid scams and fraud.
Other benefits
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Lyft Pink All Access membership. Elevate your taxi rides with a complimentary Lyft Pink All Access membership for two years, giving you a VIP experience during day-to-day travels. With a yearly value of $199, this perk grants you priority rides, airport pickups, relaxed cancellations and discounted fares. Even when the two years are over, you’re entitled to a 50% discount next year. This benefit must be activated by December 31, 2024.
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DoorDash discounts. The Chase Sapphire Reserve takes the convenience of ordering takeout to new heights, offering free DashPass membership for at least a year when you activate by December 31, 2024. That means you get free delivery, lower service fees and $5 DoorDash credits per month for the DoorDash and Caviar apps.
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Instacart+ membership and statement credits. Take advantage of 12 months’ free Instacart+ membership when activated before July 31, 2024, putting money back in your pocket with benefits such as free delivery on orders over $35. Plus, earn up to $15 in statement credits per calendar month on qualifying purchases, through July 2024.
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24/7 hotline access. Skip the queue with an exclusive phone line dedicated to Chase Sapphire Reserve customers. You’ll have access to priority customer service with shorter wait times and specialized assistance.
Chase Sapphire Reserve®: The fine print
Fees
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Annual fee: $550
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Balance transfers: $5 or 5% of the transfer amount, depending on which is greater.
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Foreign transaction fees: None
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Cash advances: $10 or 5% of the transaction amount, whichever is more.
Interest rates
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Regular APR: 22.49% - 29.49% Variable
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Purchase Intro APR: N/A
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Balance Transfer Intro APR: N/A
Credit limit
Chase sets your Chase Sapphire Reserve credit limit based on a number of factors, including income, credit history and your current spending habits. For example, if you have a credit score of 800, earn a six-figure annual salary and pay your bills in full and on time, you’ll likely get a generous credit limit.
Chase Sapphire Reserve®: Drawbacks
The annual fee
Let’s face it, the Chase Sapphire Reserve’s $550 annual fee is not for the faint of heart. If you’re unable or unwilling to maximize its benefits, this card will only be a costly addition to your wallet. While Sapphire Reserve undeniably comes with incredibly lucrative rewards and valuable perks, it may be difficult to justify the fee if you don’t travel frequently or dine out. Or, even if you can find enough value in the perks, paying nearly $600 a year for a credit card can still be less than ideal.
No earning points on travel until after the first $300
While the $300 annual travel credit is one of the biggest draws of the Chase Sapphire Reserve, it can also potentially throw a monkey wrench into your point-earning endeavors. The first $300 you spend on travel each year automatically goes toward the travel credit, and you won’t earn any points on travel purchases until after the annual credit is used fully.
If you spend significantly more than $300 on travel every year, this technicality shouldn’t impact you too much, but if you’re more of a casual traveler, it could make it more difficult to rack up points.
The rewards can be complicated
To get the most value out of the Chase Sapphire Reserve card, you need to book and redeem travel through the Chase Travel platform. When booking travel this way, you can earn 10X points on hotels and car rentals and 5X points on flights, as opposed to the 3X points you earn on non-Chase travel. If you redeem your points for travel through Chase Travel, they’re worth 50% more (1.5 cents vs. 1 cent for other redemption options like gift cards).
All that to say, it undeniably makes the most sense to earn and redeem your points this way. While this isn’t necessarily difficult, it is another step to remember. If you’re not interested in navigating travel portals, the Sapphire Reserve may not be the best option for you.
It doesn’t hold much value for infrequent travelers
The Chase Sapphire Reserve card is first and foremost a travel credit card. With an annual $300 travel credit, travel as the highest-earning category, airport lounge access, and the most redemption value on travel, this card is made for dedicated, premium travelers.
If you don’t travel often, your money is better spent elsewhere. The Sapphire Reserve’s reward rate on non-travel expenses is subpar, only earning 1X points on non-bonus purchases and 3X points on dining. Similarly, the redemption rate for anything other than travel isn’t great, with points only worth 1 cent each when redeemed for gift cards, merchandise, statement credits, etc.
While it does have a few non-travel benefits like Doordash discounts, Instacart credits, and Lyft Pink All Access membership, if you can’t fully utilize the $300 travel credit and valuable points on travel, you might want to consider a different card.
How Chase Sapphire Reserve® compares
Chase Sapphire Reserve® vs. Chase Sapphire Preferred® Card
The Chase Sapphire Preferred® Card carries a lower annual fee ($95) than the Sapphire Reserve but also offers fewer points and less valuable perks. With the Chase Sapphire Preferred, you can earn 5X points on travel purchased through Chase Travel℠, 3X points on dining, select streaming services, and online grocery purchases (excl. Walmart, Target, and wholesale clubs), 2X points on non-Chase travel purchases, and 1X points on other purchases. These points can be redeemed for 25% more value through Chase Travel, compared to the Reserve’s 50% more. The Sapphire Preferred would likely be a better option for casual travelers.
▶︎ Read more: Chase Sapphire Preferred vs. Reserve.
Chase Sapphire Reserve® vs. The Platinum Card® from American Express
Compared to the Chase Sapphire Reserve, The Platinum Card® from American Express has a higher annual fee (see rates and fees) and a lower spending threshold spread over a longer period to be eligible for the welcome bonus. Perks are similar, although Amex Platinum offers fewer points on travel, dining and daily purchases overall. The Platinum Card has over $1,500 in annual statement credits, but they’re less flexible than the Sapphire Reserve’s $300 travel credit.
▶︎ Read more: Chase Sapphire Reserve vs. Amex Platinum
Chase Sapphire Reserve® vs. Capital One Venture X Rewards Credit Card
Compared to the Capital One Venture X Rewards Credit Card, the Chase Sapphire Reserve stacks up well. It has a higher annual fee than Venture X but also has more valuable points. However, the Venture X has a simpler points-earning structure than the Sapphire Reserve — 10X points on hotels and rental cars, 5X points on flights, and 2X points on other purchases. The perks these two cards offer are similar: $300 annual travel credit, airport lounge access, TSA PreCheck credit, travel insurance benefits, and more.
▶︎ Read more: Chase Sapphire Reserve vs Venture X
Should you get the Chase Sapphire Reserve® card?
The Chase Sapphire Reserve® card is a powerhouse in the realm of travel rewards cards, offering exceptional benefits that make it worthwhile for frequent travelers. If you anticipate capitalizing on the card’s lifestyle perks and are confident your spending habits align with its reward program, the Chase Sapphire Reserve is an astute choice. So, in short, the Chase Sapphire Reserve is right for you if you’re a frequent traveler who prioritizes luxury travel perks and lifestyle rewards.
If you can’t justify paying $550 a year for a credit card, you don’t travel much, or you’re not one to go out to restaurants, you’ll likely find more value elsewhere.
