Chase Sapphire Reserve credit card review: Premium benefits and exceptional rewards

Overview of the Chase Sapphire Reserve Card

The Chase Sapphire Reserve® stands out as one of the top rewards credit cards ever. With the ability to earn up to 10 points per dollar on travel through Chase Travel℠ and dining via Chase Ultimate Rewards, this card generates highly valuable Ultimate Rewards points. These points can be transferred to various hotel and airline partners or redeemed directly for flights at a rate of 1.5 cents per point. Coupled with a $300 annual travel credit, access to airport lounges, and a range of additional perks, this card is sure to elevate your travel experience. Card Rating*: ⭐⭐⭐⭐½

*Card Rating reflects the perspective of TPG's editors and is not swayed by the card issuer.

The Chase Sapphire Reserve has demonstrated to average consumers that it's possible to benefit from a premium credit card even when incurring an annual fee of several hundred dollars.

Indeed, the Sapphire Reserve experienced such remarkable success since its debut in 2016, featuring a 100,000-point welcome bonus, that Chase temporarily ran out of the metal materials required to manufacture the cards.

If you boast an excellent credit score and seek premium perks, the Sapphire Reserve may be the ideal choice for you. Let's explore the features that keep this card appealing as a travel credit card, ensuring its place at the top of many TPG wallets.

Pros and cons of the Chase Sapphire Reserve

Chase Sapphire Reserve introductory offer

Currently, the Chase Sapphire Reserve offers a welcome bonus of 60,000 points when you spend $4,000 within the first three months of opening your account.

With Chase Ultimate Rewards points valued at 2.05 cents each (based on TPG's September 2024 valuations), the current 60,000-point bonus translates to a worth of $1,230, which is over two years' worth of the $550 annual fee.

Even if you don’t take advantage of Chase’s transfer partners, holders of the Sapphire Reserve still receive a value of 1.5 cents per Ultimate Rewards point when redeeming for travel through the Chase Travel℠ portal, making the bonus worth $900. So, even if you're new to travel rewards and unsure about maximizing transfer partners, you can still make good use of your welcome bonus by booking travel through the portal.

Keep in mind that booking a flight this way usually qualifies as a revenue booking, meaning you’ll also earn airline miles and elite status credit, providing you with even more benefits.

However, it's essential to be aware of Chase's application restrictions, particularly concerning the Sapphire cards. Due to the Chase's 5/24 rule, it’s advisable to apply for Chase cards before considering other issuers. This makes choosing the right Sapphire product for your needs extremely important.

Benefits of the Chase Sapphire Reserve

While the Chase Sapphire Reserve may not have as many perks as The Platinum Card® from American Express, it still offers a range of valuable benefits that many travelers will appreciate. Here’s a rundown of the key advantages of the Sapphire Reserve:

Annual travel reimbursement

One of the standout features of this card is the $300 annual travel credit. Chase automatically applies a $300 credit to your account for eligible purchases, which can include a wide range of travel providers:

In the [travel] category, merchants include airlines, hotels, motels, timeshare providers, car rental services, cruise lines, travel agencies, discount travel platforms, campgrounds, and operators of passenger transport like trains, buses, taxis, limousines, ferries, as well as toll bridges, highways, and parking facilities.

This benefit alone reduces your effective annual fee to merely $250.

TPG reader Armando S. frequently sees value in this benefit, stating that you "Can't surpass the flexibility of the $300 travel credit from the Chase Sapphire Reserve" (via Facebook).

Note: Reader contributions have not been edited or approved by the issuers, nor do they represent TPG's views on these cards.

Undoubtedly, it is a versatile and expansive advantage of the card. As mentioned, cardholders can utilize this credit for various travel expenses up to $300, covering everything from airline tickets to hotel bookings, cruise tickets, and much more.

Lounge access

Holders of the Sapphire Reserve card can enjoy entry to Chase Sapphire Lounges and Priority Pass lounges (excluding dining options) for themselves and two guests.

Additionally, authorized users gain the same airport lounge privileges independently — however, there is an additional annual fee of $75 for each extra cardholder.

The Priority Pass network features various premium lounges, both in the United States and internationally.

Complimentary DoorDash DashPass subscription

Chase Sapphire Reserve cardholders who activate by December 31, 2027, are eligible for at least a one-year complimentary DoorDash DashPass subscription.

Moreover, you'll receive $5 monthly in DoorDash credits that can carry over for two months before they expire, allowing you to accumulate up to $15 to use all at once before the deadline (through December 31, 2027).

Chase and DoorDash have recently enhanced their partnership to provide cardholders with even more perks.

Cardholders will benefit from a $5 monthly DoorDash in-app credit on all orders until January 31, 2025. However, starting February 1, 2025, this $5 credit will apply only to restaurant orders on DoorDash. Additionally, those with an active Sapphire Reserve DashPass membership will earn two promotional credits of up to $10 each month for grocery, convenience, or other non-restaurant orders through DoorDash.

Lyft benefits

Chase Sapphire Reserve cardholders earn 10 points for every dollar spent on Lyft through March 2025. This effectively provides over a 20% return on Lyft rides, as TPG values Chase Ultimate Rewards points at 2.05 cents each.

Cardholders also enjoy a free Lyft Pink All Access membership for two years, valued at up to $199 annually. Activation is required by December 31.

Application fee reimbursement for Global Entry or TSA PreCheck

Similar to many other premium cards, the Sapphire Reserve offers reimbursement for the application fee for Global Entry or TSA PreCheck when charged to your card. As the Global Entry application fee increases to $120 (up from $100) in October, Chase will adjust the reimbursement accordingly. Keep in mind that Global Entry includes PreCheck, making it the more beneficial option.

This benefit is accessible to cardholders once every four years. If you’ve already enrolled, you can apply the credit toward a friend or family member's application fee.

Visa Infinite perks

As a Visa Infinite card, the Sapphire Reserve provides a range of associated perks. Notable features include primary rental car insurance, trip cancellation and delay protection, lost luggage reimbursement, a concierge service, and access to the Luxury Hotel & Resort Collection.

Earning points with the Chase Sapphire Reserve

In addition to the welcome bonus, the bonus-earning categories will significantly enhance your Ultimate Rewards balance. Here's a summary of the rewards you can earn with the card:

• 10 points per dollar on hotels and car rentals booked via Chase Travel
• 10 points per dollar on dining expenses through Chase Ultimate Rewards
• 10 points per dollar on Lyft rides (valid until March 31, 2025)
• 10 points per dollar on Peloton equipment and accessories (for purchases of $150 or more through March 2025), up to a total of 50,000 points
• 5 points per dollar on flights booked through Chase Travel
• 3 points per dollar on all other travel (excluding the $300 annual travel credit) and dining purchases globally
• 1 point per dollar on all other purchases

Keep in mind that you won't earn points on the first $300 spent on travel purchases each cardmember year, as this will activate the card's $300 travel credit.

When you account for the $300 travel credit, the annual fee difference between the Sapphire Reserve and the Chase Sapphire Preferred® Card amounts to $155 ($250 compared to $95). This means you would need to earn an additional 7,561 Ultimate Rewards points annually with the Reserve to gain an advantage (based on TPG's September 2024 valuations and excluding other perks and benefits). You can achieve this by spending at least $211 per month on travel (earning a minimum of 3 points per dollar) or $631 on regular purchases (earning 1 point per dollar).

Redeeming points with the Chase Sapphire Reserve

The capability to redeem rewards with partners is a crucial feature of any travel rewards credit card, and it holds true for the Sapphire Reserve. Transferring your points to one of Chase's 14 travel partners can lead to some exceptional redemptions.

Additionally, you can book travel via Chase Travel using points valued at 1.5 cents each. While this may not always provide the best value, it is an excellent option for boutique hotels outside major chains like Marriott or Hyatt. It’s also beneficial for booking flights when cash fares are low.

You can also choose to redeem your points for cash back, gift cards, or dining and experiences through the Ultimate Rewards portal at a rate of one cent per point, or cover eligible purchases at a higher value using Chase Pay Yourself Back.

Transferring points with the Chase Sapphire Reserve

The most advantageous way to use your Chase Ultimate Rewards is by transferring them to one of Chase's 14 airline and hotel partners, including valuable options such as British Airways Executive Club, Air Canada Aeroplan, and Southwest Airlines Rapid Rewards.

TPG's director of content, Summer Hull, particularly appreciates the ability to transfer her points to World of Hyatt, allowing her to book stays at resorts or city hotels that would generally be beyond her budget. Meanwhile, some of us at TPG prefer to stay at Category 1 properties to maximize our points. Regardless of your reward usage preference, Chase's list of partners offers excellent transfer options.

What cards are rivals to the Chase Sapphire Reserve?

The Sapphire Reserve's primary competitors are other cards that earn the same points but come with a lower annual fee, along with two other premium travel credit cards.

• For a mid-tier card with a lower annual fee: Consider the Chase Sapphire Preferred® Card, which allows you to earn Chase Ultimate Rewards points while charging a lower annual fee of $95. It provides several travel protections and access to the same hotel and airline partners as the Sapphire Reserve. For more details, check our full review of the Sapphire Preferred.
• If you're looking for a premium travel card with a reduced annual fee: The Capital One Venture X Rewards Credit Card grants access to Priority Pass, Plaza Premium, and Capital One lounges, all for a lower annual fee of $395. You'll benefit from insurance protections and earn a minimum of 2 miles per dollar on all purchases, plus up to $300 in credits each year for use via Capital One Travel. For further insights, see our full review of the Capital One Venture X.
• If you seek more lounge access and credits: The The Platinum Card® from American Express provides over $1,500 in available annual value, along with access to Priority Pass lounges and many others, including the Amex Centurion Lounge network. Enrollment is necessary, and the card comes with a higher annual fee of $695 (refer to rates and fees). For more information, check our full review of the Amex Platinum.

For more alternatives, take a look at our complete lists of best travel credit cards and best Chase credit cards.

Conclusion

The Chase Sapphire Reserve is an excellent choice for travel enthusiasts, particularly those who travel frequently. Offering 3 points per dollar on travel and dining expenses, along with top-tier travel protections, valuable Chase Ultimate Rewards points, and a host of additional perks, the Chase Sapphire Reserve stands out as one of the top credit cards available.

For Capital One products mentioned on this page, some benefits may be offered by Visa® or Mastercard® and can vary by product. Please refer to the relevant Guide to Benefits for more details, as terms and exclusions apply.