The Chase Sapphire Reserve® credit card is one of the premier travel rewards cards available, known for its robust benefits, lucrative rewards program, and premium perks. Designed for frequent travelers and those seeking luxury, this card offers a range of features that justify its high annual fee. In this detailed review, we will explore everything the Chase Sapphire Reserve® has to offer, from its current sign-up bonuses to its rewards structure and additional perks.
Current Sign-Up Bonus
At the time of this post, new cardholders can earn a substantial sign-up bonus: 60,000 Ultimate Rewards® points after spending $4,000 on purchases in the first three months from account opening. (Check the Chase website for up to date sign-up bonus info) This bonus is worth $900 when redeemed for travel through Chase Ultimate Rewards®, providing an excellent initial boost to your points balance.
Rewards Structure
The Chase Sapphire Reserve® card excels in its points earning potential, especially for travel and dining purchases. Here’s a detailed breakdown of how you can earn points:
- 5x Points on Flights: Earn 5 points per dollar on flights when booked through Chase Ultimate Rewards® after the first $300 is spent on travel purchases annually.
- 10x Points on Hotels and Car Rentals: Earn 10 points per dollar on hotels and car rentals booked through Chase Ultimate Rewards® after the first $300 is spent on travel purchases annually.
- 3x Points on Other Travel and Dining: Earn 3 points per dollar on all other travel and dining purchases worldwide.
- 1x Point on All Other Purchases: Earn 1 point per dollar on all other purchases.
Redemption Options
Chase Ultimate Rewards® points are highly versatile and valuable, offering several redemption options:
- Travel: Points are worth 1.5 cents each when redeemed for travel through the Chase Ultimate Rewards® portal. This includes flights, hotels, car rentals, and cruises.
- Transfer to Travel Partners: Points can be transferred at a 1:1 ratio to numerous airline and hotel loyalty programs, including United MileagePlus, Southwest Rapid Rewards, Marriott Bonvoy, and Hyatt World of Hyatt.
- Cash Back: Points can be redeemed for cash back at a rate of 1 cent per point.
- Gift Cards: Points can be redeemed for gift cards, also at a rate of 1 cent per point.
- Pay Yourself Back: Temporarily, points can be redeemed at 1.5 cents per point for statement credits against purchases in select, rotating categories such as grocery stores and dining.
Annual Travel Credit
One of the standout features of the Chase Sapphire Reserve® is the $300 annual travel credit. This credit is automatically applied to your account for any travel-related purchases, including flights, hotels, rental cars, and even taxis and rideshares. This effectively reduces the net cost of the card’s annual fee, which is $550.
Additional Perks and Benefits
Beyond its lucrative rewards program, the Chase Sapphire Reserve® offers a plethora of additional perks that enhance its value:
Travel Benefits
- Priority Pass Select Membership: Enjoy unlimited access to over 1,300 airport lounges worldwide for you and up to two guests.
- Global Entry or TSA PreCheck Fee Credit: Receive a statement credit of up to $100 every four years for Global Entry or TSA PreCheck application fees.
- Complimentary DashPass: Get a complimentary DashPass subscription from DoorDash, which provides unlimited deliveries with $0 delivery fees and reduced service fees on eligible orders over $12.
- Luxury Hotel & Resort Collection: Access benefits at over 1,000 properties, including complimentary room upgrades, early check-in, late check-out, daily breakfast for two, and unique property-specific benefits.
- Travel Protections: Comprehensive travel insurance including trip cancellation/interruption insurance, auto rental collision damage waiver, baggage delay insurance, and travel accident insurance.
Purchase Protections
- Purchase Protection: Coverage for new purchases for 120 days against damage or theft, up to $10,000 per claim and $50,000 per year.
- Extended Warranty Protection: Extends the U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less.
- Return Protection: If a retailer won’t accept your return within 90 days, you can be reimbursed up to $500 per item, up to $1,000 per year.
Additional Features
- No Foreign Transaction Fees: Pay no foreign transaction fees when making purchases abroad.
- Concierge Service: 24/7 access to a concierge for assistance with travel bookings, dining reservations, and more.
How to Maximize Your Chase Sapphire Reserve® Card
To get the most out of the Chase Sapphire Reserve®, consider the following strategies:
- Book Travel Through Chase Ultimate Rewards®: Earn higher points and get a better redemption rate by booking flights, hotels, and car rentals through the Chase Ultimate Rewards® portal.
- Use the Annual Travel Credit: Make sure to utilize the $300 travel credit each year to offset the card’s annual fee.
- Transfer Points to Travel Partners: For potentially higher value, transfer your points to Chase’s airline and hotel partners.
- Take Advantage of Lounge Access: Use the Priority Pass Select membership to relax in airport lounges during your travels.
- Leverage Travel Protections: Use the card for all your travel bookings to benefit from the comprehensive travel insurance coverage.
- Utilize Dining Benefits: Earn 3x points on dining and use the complimentary DashPass subscription for savings on food delivery.
Comparing Chase Sapphire Reserve® to Other Cards
Chase Sapphire Preferred® Card
- Annual Fee: $95
- Sign-Up Bonus: Earn 60,000 points after spending $4,000 in the first three months.
- Rewards Rate: 5x points on travel purchased through Chase Ultimate Rewards®, 2x points on other travel purchases, 3x points on dining, and 1x points on all other purchases.
- Redemption Rate: Points are worth 1.25 cents each when redeemed for travel through Chase Ultimate Rewards®.
American Express Platinum Card®
- Annual Fee: $695
- Sign-Up Bonus: Earn 80,000 Membership Rewards® points after spending $6,000 in the first six months.
- Rewards Rate: 5x points on flights booked directly with airlines or through American Express Travel (up to $500,000 per calendar year), 5x points on prepaid hotels booked through American Express Travel, and 1x points on all other purchases.
- Travel Credits: $200 airline fee credit, up to $200 in Uber credits annually, and $100 in Saks Fifth Avenue credits annually.
- Lounge Access: Access to the Global Lounge Collection, including Centurion Lounges, Priority Pass, Delta Sky Clubs, and more.
Pros and Cons of the Chase Sapphire Reserve®
Pros
- High Earning Rates: Especially for travel and dining.
- Versatile Redemption Options: Points are worth 1.5 cents each for travel through Chase Ultimate Rewards®.
- Comprehensive Travel Benefits: Including a $300 annual travel credit and extensive travel insurance.
- Priority Pass Select Membership: Access to over 1,300 airport lounges worldwide.
- No Foreign Transaction Fees: Save money on purchases abroad.
Cons
- High Annual Fee: $550 may be a deterrent for some.
- Limited Rewards Categories: Higher earning rates are primarily limited to travel and dining.
- Requires Good Credit: Approval requires excellent credit.
Is the Chase Sapphire Reserve® Worth It?
The Chase Sapphire Reserve® is a top-tier travel rewards card offering exceptional value for frequent travelers and diners. Its high earning rates, substantial sign-up bonus, versatile redemption options, and extensive travel benefits can easily justify the annual fee for those who can fully utilize its perks.
However, if your spending does not align with the card’s rewards categories or if you prefer a lower annual fee, you might consider alternatives like the Chase Sapphire Preferred® or the American Express Platinum Card®.
Conclusion
The Chase Sapphire Reserve® credit card stands out as one of the best travel rewards cards on the market. Its combination of high earning rates, valuable sign-up bonus, extensive travel benefits, and flexible redemption options make it a powerful tool for maximizing your travel experiences. For those who travel frequently and can take full advantage of its features, the Chase Sapphire Reserve® is well worth the investment.
