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The Chase Sapphire Reserve® (Rates & Fees) is one of the most valuable rewards cards available. When it launched in 2016, its lineup of benefits set a new standard, and many competitors quickly tried to play catch-up.
The Sapphire Reserve is not for everyone, however. With an annual fee of $550, it only makes sense if you understand and use the perks — including unlimited lounge access, best-in-class travel insurance, incredible earning rates, and an annual travel credit worth more than half of the card's annual fee. Let's look deeper at the Sapphire Reserve to help you decide if it's right for you.
- Earn 60,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
- Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 60,000 points are worth $900 toward travel.
- 1:1 point transfer to leading airline and hotel loyalty programs
- Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $120 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance and more.
- Member FDIC
- Rates & Fees
- 10X points on hotels and car rentals purchased through Chase Travel℠
- 10X points on Chase Dining (including prepaid reservations and prepaid takeout purchased through Chase)
- 5X points on airfare purchased through Chase Travel℠
- 3X points on all other travel
- 3X points on dining at restaurants
- 1X points on all other purchases
Page Contents
- Chase Sapphire Reserve Pros
- Chase Sapphire Reserve Cons
- Chase Sapphire Reserve Welcome Bonus
- Chase Sapphire Reserve Benefits
- Chase Sapphire Reserve Earning Rates
- Redeeming Points With the Chase Sapphire Reserve
- Application Restrictions and Strategy
- Cards That Compete with the Chase Sapphire Reserve
- Bottom Line
Chase Sapphire Reserve Pros
- Access to transfer partners for outsized redemption value
- No foreign transaction fees
- Points are worth 50% more when used in the Chase Travel℠ portal
- Primary rental car coverage
- Comprehensive travel protections
Chase Sapphire Reserve Cons
- $550 annual fee
- $75 annual fee per authorized user
- No bonus rewards on purchases covered by the $300 annual travel credit
Chase Sapphire Reserve Welcome Bonus
As an approved applicant for the card, you will earn 60,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. Sapphire Reserve cardholders can redeem points for 1.5 cents each in the Chase Travel℠ portal, which means that this welcome bonus is worth a minimum of $900.
However, based on recent AwardWallet user redemptions, each Chase Ultimate Rewards point is worth 1.94¢ on average. That makes this bonus worth over $1,100 through transfer partners. More on that option below.
Chase Sapphire Reserve Benefits
The Sapphire Reserve is a feature-rich card that should make you consider whether your current go-to card is the most rewarding. Here are the standout benefits cardholders can enjoy.
$300 annual travel credit
While this isn't free money, it can be considered such. The Sapphire Reserve carries a $550 annual fee, but the $300 travel credit helps offset a significant portion of that cost. This $300 credit can be used to cover most travel expenses, including the cost of airfare. If you're spending more than $300 per year on travel, this is an excellent way to help offset the annual fee.
How do you use the credit? Simply pay for a qualifying travel expense, such as a plane ticket, subway ride, or hotel stay, using your Sapphire Reserve, and you'll receive a statement credit of up to $300 per cardmember year. It's that simple.
Keep in mind that this benefit refreshes each cardmember year—not calendar year. It applies automatically to the first $300 of eligible expenses, whether that's one big purchase or multiple small purchases. Unfortunately, the bonus category earnings on travel—discussed below—don't apply to purchases covered by the travel credit. Those earnings will occur once you've used up your travel credit.
Related: How To Use the Chase Sapphire Reserve® $300 Travel Credit
Lounge access
Lounge access is provided through a complimentary Priority Pass Select membership. This membership gives you access to 1,300+ lounges worldwide. You are not required to be flying any particular airline to gain access to Priority Pass lounges. Instead, show your same-day boarding pass and Priority Pass card to get in.
Authorized users also can use their card to sign up for an additional Priority Pass membership. Just remember that it costs $75 for each authorized user. Priority Pass members can bring up to two guests for free.
You'll also have access to Chase Sapphire Lounges, including the Chase Sapphire Terrace in Austin.
TSA PreCheck, Global Entry, or NEXUS statement credit
This benefit has become a standard across high-end travel rewards cards but still has tangible value. Use your card to pay the application fee for either TSA PreCheck or Global Entry, and you will be reimbursed with a statement credit that covers the cost. Remember, Global Entry members also receive the benefits associated with TSA PreCheck. So, if you travel internationally a few times each year, Global Entry may be the wiser choice.
Additionally, if you're current on your TSA PreCheck or Global Entry membership, you can pay for someone else's application fee and be reimbursed. The name on the application does not need to be yours, so this is an excellent way to help out a spouse, family member, or friend!
Another option is the cross-border program NEXUS, which can be a good option if you travel frequently between the U.S. and Canada. Certain Chase credit cards can cover your application fee for NEXUS, including the Sapphire Reserve.
Visa Infinite benefits
Perhaps the most underrated benefits of any credit card, Visa Infinite benefits can save you thousands of dollars through insurance protections. Coverage includes primary rental car protection, purchase protection, trip delay protection, baggage delay protection, and several different types of travel insurance. Check out our article comparing the benefits of the Sapphire cards to learn more.
Related: Chase Improves Travel and Protection Benefits
DoorDash DashPass subscription and credits
Get at least 12 months of complimentary DoorDash DashPass when you activate by December 31, 2027. DashPass typically costs $96 for a year or $9.99 monthly. This benefit offers $0 delivery fees plus lower service fees if your order is at least $10 (select locations) or $12 (most locations). Furthermore, receive up to $25 in monthly savings via a $5 monthly credit automatically credited to your DoorDash account. Plus, get up to $20 per month to use on non-restaurant DoorDash orders via two $10 promos.
Chase Sapphire Reserve Earning Rates
There are a handful of elevated categories when you spend with your Sapphire Reserve, although the biggest earnings come from spending in the Chase Travel℠ portal.
- 10X points on hotels and car rentals purchased through Chase Travel℠
- 10X points on Chase Dining (including prepaid reservations and prepaid takeout purchased through Chase)
- 5X points on airfare purchased through Chase Travel℠
- 3X points on all other travel
- 3X points on dining at restaurants
- 1X points on all other purchases
Plus, through December 31, 2027, you can earn 10x points on certain Peloton equipment purchases — up to a maximum of 50,000 points.
Redeeming Points With the Chase Sapphire Reserve
Transfer your points
The Sapphire Reserve shines when it comes to redeeming Ultimate Rewards. First, you have access to all of Chase's 14 airline and hotel transfer partners. Transferring your points is the easiest way to get the most value from them. When you move your points from Chase to one of these partners to book award travel, you can get double or triple the value offered with other redemption options.
Transfer partners include:
Chase Travel℠ portal
It's possible to use your points to pay for travel bookings in the Chase Travel℠ portal. For most cardholders, points are worth 1¢ each here. With the Sapphire Reserve, however, points can be redeemed at a value of 1.5 cents each.
Better yet, if you have another Ultimate Rewards-earning card — such as the Chase Freedom Unlimited® or Ink Business Cash® Credit Card (Rates & Fees) — you can combine points between your Ultimate Rewards-earning accounts. By combining your points to a Sapphire Reserve, they instantly become worth 1.5¢ per point towards travel when booked through the Chase Travel℠ portal.
Pay Yourself Back
Another way to redeem Ultimate Rewards is to use them to Pay Yourself Back. This feature is helpful when you want to use your Ultimate Rewards for purchases you've already made. Initially, this feature offered extra value because you could redeem your points at 1.25 or 1.5 cents per point. However, the redemptions frequently change and have since lost some of their value.
For further details, see our complete guide to Pay Yourself Back, which includes current categories and their end dates.
Statement credit
Finally, you can redeem your points for one cent apiece as a statement credit. In this case, you're not getting the most value from your points. However, it can be a helpful way to offset costs that wouldn't be covered otherwise.
Related: 22 Different Ways To Redeem Ultimate Rewards
Application Restrictions and Strategy
There are a few things to be aware of when applying for the Sapphire Reserve:
- You cannot have opened a Sapphire card in the last 48 months. Chase has a special rule for the Sapphire family of cards, stating that you cannot open a new Sapphire card if you have opened one and received the welcome bonus in the previous 48 months.
- You can hold only one Sapphire card at a time. There are three Sapphire cards, but you can hold only one at a time. If you hold the Chase Sapphire® Card (not open to new applicants) or Chase Sapphire Preferred® Card, you will not be approved for the Sapphire Reserve, and vice versa. In this case, it's important to compare benefits to help you decide which Chase Sapphire card is right for you.
- You cannot have opened five or more personal cards in the last 24 months. Chase's infamous 5/24 rule is important to consider when applying for a new card. This rule states that you will not be approved for a new Chase card if you've opened five or more cards from any bank in the last 24 months.
Related: Why Starting With Chase Cards Matters if You’re Under 5/24
Cards That Compete with the Chase Sapphire Reserve
Before you settle on one card, it's helpful to compare additional options. Here are some of the top cards that compete with the Sapphire Reserve:
- If you want a premium card with great benefits but a lower annual fee, check out the Capital One Venture X Rewards Credit Card. This premium card offers many of the same benefits like lounge access, a $300 travel credit, elevated earning potential in the Capital One Travel portal, travel insurance, purchase protections, and more, but has a much smaller $395 annual fee. See our full review Capital One Venture X for more details.
- If you want a premium card with even more benefits, The Platinum Card® from American Express may be for you. The Amex Platinum card comes with some of the same benefits as the Sapphire Reserve but also a few extras. It includes a $200 airline incidentals credit, a $200 hotel credit (The Hotel Collection requires a minimum two-night stay), additional lounge access (including Centurion Lounges and select Lufthansa lounges), Hilton Honors and Marriott Bonvoy Gold status, $199 CLEAR® Plus membership reimbursement, and more. For comparison, the annual fee on this card is $695 (Rates & Fees). See our full Amex Platinum review for more information. Enrollment is required for select Amex benefits.
$200 hotel credit offered with The Platinum Card® from American Express applies to prepaid Fine Hotels + Resorts® or The Hotel Collection bookings made via Amex Travel. The Hotel Collection requires a minimum two-night stay.
- If you want a card that earns Ultimate Rewards with a lower annual fee, consider the Chase Sapphire Preferred® Card (Rates & Fees). The little sibling of the Sapphire Reserve has some overlapping benefits. The Sapphire Preferred has a smaller $95 annual fee but still includes benefits like access to transfer partners, elevated redemptions in the Chase Travel portal, primary rental car coverage, purchase and travel protections, and more. Our Sapphire Preferred review has additional details.
- 10X miles per $1 on hotels and rental cars booked via Capital One Travel
- 5X miles per $1 on purchases through Capital One Entertainment (through 12/31/2025)
- 5X miles per $1 on flights when booking via Capital One Travel
- 5X miles per $1 on vacation rentals booked via Capital One Travel
- 2X miles per $1 on all other eligible purchases
(Terms apply)
- Earn 5X points for flights booked directly with airlines or with American Express Travel (up to $500,000 in purchases per calendar year).
- Earn 5X points on prepaid hotels booked with American Express Travel.
- 5X points on Lyft rides through September 2027
- 5X points on travel purchased through Chase Travel℠
- 3X points on dining at restaurants worldwide
- 3X points on eligible streaming services
- 3X points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
- 2X points on all other travel
- 1X point per dollar spent on all other purchases
Related: Comparison of Premium Travel Rewards Credit Cards
Bottom Line
The Sapphire Reserve and its benefits speak for themselves. The card has a fantastic sign-up bonus, great earning potential, highly flexible rewards, complimentary lounge access, and many other benefits through the Visa Infinite program. This card checks all the boxes for what makes a great travel rewards credit card.
- Earn 60,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
- Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 60,000 points are worth $900 toward travel.
- 1:1 point transfer to leading airline and hotel loyalty programs
- Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $120 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance and more.
- Member FDIC
- Rates & Fees
- 10X points on hotels and car rentals purchased through Chase Travel℠
- 10X points on Chase Dining (including prepaid reservations and prepaid takeout purchased through Chase)
- 5X points on airfare purchased through Chase Travel℠
- 3X points on all other travel
- 3X points on dining at restaurants
- 1X points on all other purchases
For rates and fees of the cards mentioned in this post, please visit the following links: Chase Sapphire Reserve® (Rates & Fees), Ink Business Cash® Credit Card (Rates & Fees), The Platinum Card® from American Express (Rates & Fees), and Chase Sapphire Preferred® Card (Rates & Fees)
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