The Chase Sapphire Reserve is one of the most talked-about premium travel credit cards in the United States. Launched in 2016, it quickly gained attention for its generous rewards program, strong travel protections, and a valuable sign-up bonus. While the annual fee is high, the benefits are designed to offset the cost for frequent travelers.
This review looks at what the card offers, how it compares to alternatives, and whether it makes sense for your wallet.
Annual Fee and Sign-Up Bonus
The annual fee is $550, putting the Sapphire Reserve in the same league as other premium cards like the American Express Platinum.
New cardholders often receive a sign-up bonus. At the time of writing, the offer is:
- 60,000 Chase Ultimate Rewards points after spending $4,000 in the first 3 months.
- These points are worth $900 toward travel when booked through the Chase travel portal, since Reserve cardholders get a 50% redemption boost.
For many people, the bonus alone covers the annual fee for the first year.
Points and Rewards
The Chase Sapphire Reserve earns points through the Chase Ultimate Rewards program, known for its flexibility.
- 10x points on hotels and rental cars booked through Chase Ultimate Rewards.
- 10x points on Chase Dining purchases.
- 5x points on flights booked through Chase Ultimate Rewards.
- 3x points on all other travel worldwide.
- 3x points on dining, including takeout and delivery.
- 1x point on all other purchases.
Travel categories are broad, covering airlines, hotels, tolls, trains, rideshares, and even parking. Dining also covers restaurants worldwide, not just U.S. establishments.
Point Value
Points are most valuable when redeemed for travel. With the Sapphire Reserve:
- Points are worth 1.5 cents each when redeemed for flights, hotels, rental cars, and experiences through the Chase portal.
- Points can also be transferred to more than a dozen airline and hotel partners, often giving even greater value.
Popular partners include United Airlines, Southwest, Air Canada Aeroplan, Singapore Airlines, World of Hyatt, and Marriott Bonvoy. Many travelers find Hyatt redemptions especially valuable, since points go further compared to cash rates.
Travel Credit
One of the best features is the $300 annual travel credit. This is automatic. Any purchase coded as travel (airline tickets, hotels, taxis, Airbnb, tolls, etc.) is reimbursed until you hit $300 each year.
Effectively, this lowers the annual fee to $250 if you know you’ll spend at least $300 on travel in a year, which most cardholders do.
Airport Lounge Access
The card includes a Priority Pass Select membership, giving entry to more than 1,300 lounges worldwide. This benefit covers the primary cardholder and authorized users. Lounges vary in quality, but they usually provide free snacks, drinks, Wi-Fi, and comfortable seating.
Travel Insurance and Protections
This is an area where the Sapphire Reserve stands out. Benefits include:
- Trip cancellation/interruption insurance: Up to $10,000 per person if your trip is canceled or interrupted due to covered reasons.
- Primary rental car insurance: Coverage for damage and theft when you pay with your card, without needing to go through your personal auto insurance.
- Lost luggage reimbursement: Up to $3,000 per passenger.
- Trip delay reimbursement: Up to $500 for expenses if your trip is delayed 6+ hours.
- Emergency evacuation and medical coverage: Up to $100,000 for emergencies while traveling.
These protections often save travelers hundreds of dollars compared to buying separate insurance policies.
Additional Benefits
- Global Entry or TSA PreCheck credit: Up to $100 every four years.
- DoorDash benefits: Complimentary DashPass membership for reduced delivery fees.
- Lyft benefits: 10x points on Lyft rides through March 2025.
- No foreign transaction fees: Ideal for international travel.
Downsides
- High annual fee: Even with credits, the upfront cost is steep.
- Best for frequent travelers: If you do not travel much, you won’t fully use the perks.
- Requires good to excellent credit: Typically 720+ credit scores for approval.
- Authorized user fee: $75 per year for each additional cardholder.
Who Should Get the Chase Sapphire Reserve
The card is best for people who:
- Travel several times per year, both domestically and internationally.
- Want flexible rewards that can be transferred to airlines and hotels.
- Value strong travel protections, such as rental car coverage and trip insurance.
- Spend enough on dining and travel to maximize the 3x bonus categories.
It may not be ideal if you rarely travel, want a simple cash-back card, or prefer to avoid high annual fees.
Comparison With Chase Sapphire Preferred
The Chase Sapphire Preferred is the Reserve’s lower-cost sibling, with a $95 annual fee. It earns 2x points on travel and dining, with points worth 1.25 cents in the travel portal. The Preferred is better for occasional travelers who do not need lounge access or extensive insurance.
The Reserve makes sense if you travel often, while the Preferred is a solid choice for those who want rewards without paying for premium perks.
Example of Value
Let’s say you book two flights per year, stay in a few hotels, and eat out regularly.
- You earn 3x points on dining, which adds up quickly if you spend $500 a month eating out (that’s 18,000 points a year).
- Add flights, hotels, and Lyft rides, and you could easily earn another 20,000 to 30,000 points annually.
- Redeemed at 1.5 cents per point, 40,000 points = $600 in travel.
With the $300 travel credit, lounge access, and insurance perks, many cardholders find they more than cover the $550 fee.
Final Thoughts
The Chase Sapphire Reserve remains one of the best premium travel cards available. Its combination of generous points, flexible redemptions, automatic travel credits, and strong protections make it ideal for frequent travelers. The high annual fee can be intimidating, but for those who maximize the benefits, the value far outweighs the cost.
If you want a card that makes travel more rewarding and more comfortable, the Sapphire Reserve is hard to beat. If you travel only once or twice a year, the Preferred or a simpler cash-back card may be a better fit.
