The Chase Sapphire Reserve® is a premium credit card that has garnered significant attention since its inception.
Boasting a variety of benefits, from generous travel rewards to an array of dining perks, many consumers wonder if this sought-after card is worth its hefty $550 annual fee.
With so many factors to consider, let’s dive into the pros and cons of the Chase Sapphire Reserve® to ultimately determine its value for cardholders.
In the following article, we will explore the nuances of the Chase Sapphire Reserve® and its various perks, comparing them to the costs associated with holding the card.
Full Review: Chase Sapphire Reserve.
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- $300 Annual Travel Credit
- 10x Points on Hotels and Rental Cars and 5x Points on Flights Booked Through Chase Ultimate Rewards
- 3x Points on Dining, Takeout, & Eligible Food Delivery
- 50% More Redemption Value
- Priority Pass Airport Lounge Access
- Trip Delay and Trip Cancellation Insurance
- Primary Rental Car Insurance
- $550 Annual Fee
Welcome Bonus
The Chase Sapphire Reserve® currently offers the following welcome bonus:
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Earning Points
The Chase Sapphire Reserve® offers bonus points in the following categories:
- 10 points per dollar on hotels and car rentals purchased through Chase Travel;
- 10 points per dollar on dining purchases through Chase Ultimate Rewards;
- 10 points per dollar on Lyft rides (through March 31, 2025);
- 10 points per dollar on Peloton equipment and accessory purchases (through March 2025) of $250 or more, with a maximum of 50,000 points;
- 5 points per dollar on flights purchased through Chase Travel;
- 3 points per dollar on all other travel (excluding the $300 travel credit);
- 3 points per dollar on dining purchases worldwide; and
- 1 point per dollar on all other eligible spending.
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Card Benefits
The Chase Sapphire Reserve® offers the following benefits:
- $300 travel credit after making a travel purchase.
- Receive 50% more value on points redeemed for travel through the Chase Ultimate Rewards® portal.
- Priority Pass airport lounge access.
- Global Entry or TSA PreCheck® or NEXUS fee credit.
- Free one-year Instacart+ subscription.
- 2 complimentary years of Lyft Pink All Access when activated by Dec 31, 2024—a value of $199/year.
- Free DashPass subscription through December 31, 2024.
- Trip cancellation and interruption insurance (up to $10,000 per person and $20,000 per trip).
- Primary car rental insurance.
- Lost luggage reimbursement (up to $3,000 per passenger)
- Baggage delay insurance (up to $100 per day for five days).
- Trip delay reimbursement (up to $500 per ticket for a delay longer than 12 hours or overnight).
- Extended warranty.
- Return protection (90 days of purchase, up to $500 per item, $1,000 per year).
- 120 days purchase protection (up to $10,000 per claim and $50,000 per year).
- Roadside assistance.
- No foreign transaction fees.
Redeeming Points
The Chase Sapphire Reserve earns Ultimate Rewards points.
You can use your points to book flights, hotel stays, and even rent a car through Chase Travel — all at a fixed rate of 1.5 cents per point. For example, 100,000 points are equivalent to $1,500 towards travel.
This rate is higher than Chase’s other cards, such as the Chase Sapphire Preferred® Card at 1.25 cents per point, and the Chase Freedom Flex℠ and Chase Freedom Unlimited® with a redemption value of 1.0 cents per point.
You can also get even more value when you transfer to Chase’s airline and hotel transfer partners listed below:
Ultimate Rewards Transfer Partners [1 to 1]
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Aer Lingus
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Air Canada Aeroplan
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British Airways
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Emirates
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Air France/KLM
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Hyatt Hotels
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Iberia
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IHG Hotels
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JetBlue
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Marriott
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Singapore
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Southwest
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United
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Virgin Atlantic
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Alternatives to the Sapphire Reserve
Below are two good alternatives to the Chase Sapphire Reserve to consider:
Capital One Venture X Rewards Credit Card
The Capital One Venture X Rewards Credit Card is a premium travel rewards card that’s perfect for travelers who want outstanding travel perks like annual travel credits, worldwide airport lounge access, and travel and purchase protections.
The Venture X earns 2x miles on all purchases helping you maximize every dollar of your spending. Plus, you can earn 10x miles on hotels and rental cars, and 5x miles on flights booked through Capital One.
The card has a $395 annual fee, completely offset by an easy-to-use travel credit of up to $300 back annually as statement credits for Bookings via Capital One Travel, and 10,000 points (worth at least $100) for each account anniversary.
Plus, you get airport lounge access via Priority Pass, Capital One, and Plaza Premium Lounges, Hertz President’s Circle elite status, Global Entry or TSA PreCheck credit, rental car insurance, trip and luggage insurance, cell phone insurance, and purchase protection.
The Platinum Card® from American Express
The The Platinum Card® from American Express (review) is a great premium travel rewards card for travelers who want airport lounge access, including Centurion Lounges, Delta Sky Clubs (when flying Delta), Escape Lounges, Priority Pass lounges.
The American Express Platinum has a $695 annual fee, but you receive many annual statement credits when you enroll your card to offset the fee, including:
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Card.
- $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®.
- $240 Digital Entertainment Credit: Get up to $20 in statement credits each month when you pay for eligible purchases with the Platinum Card® at your choice of one or more of the following providers: Disney+, ESPN+, Hulu, The New York Times, Peacock, SiriusXM, and The Wall Street Journal. Enrollment required.
- $200 Uber Cash Credit: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Benefit renews annually.
- $155 Walmart+ Credit: Use your Platinum Card® to pay for a monthly Walmart+ membership (subject to auto-renewal) and receive a statement credit that covers the full cost each month.
- $189 CLEAR® Plus Credit: Breeze through security with CLEAR® Plus at 45+ airports nationwide and get up to $189 back per year on your membership (subject to auto-renewal) when you use your Platinum Card®.
You also earn 5x Membership Rewards points when booking flights directly with airlines or with American Express Travel (up to $500,000 in purchases per calendar year) and 5x Membership Rewards points when booking prepaid hotels with American Express Travel.
On top of that, you automatically earn Marriott Bonvoy Gold Elite and Hilton Honors Gold statuses, which offer points bonuses, room upgrades, late check-out, and other premier benefits.
The Verdict
For frequent travelers and dining enthusiasts, the Chase Sapphire Reserve® can offer unparalleled benefits that easily outweigh the annual fee, including an easy-to-use $300 travel credit and airport lounge access.
The card features high earnings rates on travel and dining expenses, along with a solid welcome offer that further increases its potential value.
However, individuals less inclined to traverse the globe or dine out frequently may not fully take advantage of the card’s offerings, making the annual fee harder to justify.
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- $300 Annual Travel Credit
- 10x Points on Hotels and Rental Cars and 5x Points on Flights Booked Through Chase Ultimate Rewards
- 3x Points on Dining, Takeout, & Eligible Food Delivery
- 50% More Redemption Value
- Priority Pass Airport Lounge Access
- Trip Delay and Trip Cancellation Insurance
- Primary Rental Car Insurance
- $550 Annual Fee
