Chase Sapphire Reserve Credit Card Review
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I feel like, at some point in most of our lives, we start thinking about travel rewards credit cards. If you want to travel but have difficulty fitting it into your budget or schedule, the idea can be especially appealing. However, there is no single travel card that is the right choice for everyone and anyone. Instead, you need to consider factors such as annual fees, rewards rates, and what purchases are eligible for rewards. With this article, you can learn more about the Chase Sapphire Reserve® and use that information to decide whether the card is a good choice for you.
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What is a Chase Sapphire Reserve®?
The Chase Sapphire Reserve® is a rewards credit card especially good for travel purchases. With Chase, you can take advantage of deals from Chase’s network of partners and redeem your points for eligible travel purchases. The travel rewards credit card market is competitive, but Chase does its best to get ahead of the rest. Even though there is a sizable annual fee, several perks also help offset that cost.
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How does the Chase Sapphire Reserve® work?
You can apply for the Chase Sapphire Reserve® on Chase’s website. Once you navigate to the Chase Sapphire Reserve®, you’ll see this:
The application process begins with some basic questions about your identity.
Since Chase must check your credit and verify your identity, you must provide additional personal information. You can provide your Social Security number or an Individual Tax ID Number.
You’ll also need to provide your address and specify whether it’s a domestic or military address.
When applying for a Chase credit card, you’ll need to give the company permission to contact you. You’ll be asked to enter your phone number and email address at this stage. Chase also includes some information about how the company will be allowed to use this information.
Additionally, you’ll need to let Chase know you’re giving the Social Security Administration permission to confirm your identity based on your credit card application.
The final pieces of information you need to provide pertain to your home ownership and employment status. You’ll also need to give Chase your total gross annual income.
Before submitting your application, you can decide whether to go paperless if approved for a card. You can also elect to add authorized users to the credit card.
Chase also includes the pricing information for the credit card within the application. You can review this information before submitting your application.
The final step is reviewing and agreeing to the pricing and terms of the credit card before submitting your application.
How much does the Chase Sapphire Reserve® cost?
It’s free to apply for the Chase Sapphire Reserve®, but if you’re approved, there are some fees to be aware of:
- Annual credit card membership fee: $550
- Authorized user fee: $75 for each authorized user
- APR: 22.49%-29.49%
- Penalty fees: N/A
- Foreign transaction fees: $0
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Chase Sapphire Reserve®features
Welcome bonus
Many Chase cards offer a sign-up bonus to new cardholders. The Chase Sapphire Reserve® has a limited-time offer to earn Earn 60,000 bonus pointsafter you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠..
Opportunities to earn points
The Chase Sapphire Reserve® allows you to earn points each time you use your credit card. The rewards rates for these points are: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.after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠..
Annual travel credit
One of the perks of this card is that you can receive up to $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year. Travel purchases include airfare, hotels, and rideshare services like Uber.
Airport perks
Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
Other travel perks
With the Chase Sapphire Reserve®, you’ll receive perks, including room upgrades and daily breakfast at over 1,000 properties if you book travel with The Luxury Hotel & Resort Collection. You can also access exclusive entertainment, sports, music, and culinary experiences.
Built-in protections
Chase offers built-in travel and purchases coverages with the Chase Sapphire Reserve®.
- Trip cancellation and interruption insurance can reimburse you up to $10,000 per person and $20,000 per trip for prepaid, non-refundable travel expenses. This insurance covers severe weather and sickness that impact your travel plans.
- Trip delay reimbursement covers unreimbursed expenses of up to $500 per plane ticket if your trip with a common carrier is delayed more than six hours or requires an overnight stay.
- Auto rental collision damage waiver provides primary coverage with reimbursement of up to $75,000 for theft and collision damage for rental cars in the U.S. and abroad. You can use this waiver if you decline collision insurance from the rental company and charge the entire rental cost to your Chase Sapphire Reserve®
- Lost luggage reimbursement covers up to $3,000 per passenger if you or your immediate family member’s checked or carry-on luggage is damaged or lost by the carrier.
- Emergency evacuation and transportation coverage can be used if you or one of your immediate family members is injured or becomes sick during a trip away from home. If these circumstances lead to you requiring an emergency evacuation, you can be covered for up to $100,000 in medical services and transportation costs.
- Purchase protection that covers up to $10,000 per claim if a new purchase that you bought with your card is damaged or stolen within 120 days. You can receive $50,000 per year in total for purchase protection claims.
- Return protection will reimburse you for eligible items the store will not take back within 90 days of purchase. You can receive up to $500 per item and $1,000 per year.
- Extended warranty protection extends the time period of a U.S. manufacturer’s warranty which is three years or less for an additional year.
Offers from company partners
Chase partners with other companies and services to provide deals for Chase Sapphire Reserve® cardholders. This includes:
- 10x total points on Lyft rides through March 31, 2025.
- A complimentary DashPass subscription provides $0 delivery fees and lower service fees on eligible orders for at least one year if you activate the offer by December 31, 2024. You’ll also receive $5 in DoorDash credits each month.
- $10 monthly statement credit from Gopuff through December 21, 2023.
Instant access
You can get instant access to your Chase Sapphire Reserve® by adding it to a digital wallet such as Apple Pay or Google Pay.
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- Subject to qualification and approval. $1,500 monthly income required.
- Apply in 5 minutes. If you qualify, chat online with a friendly online debt representative.
Who is the Chase Sapphire Reserve® best for?
People who want to purchase travel through Chase Ultimate Rewards
If you travel frequently and use Chase’s partners often, having the Chase Sapphire Reserve® can be hugely beneficial. By booking your travel purchases through the Chase Ultimate Rewards portal, you can earn 10x points that can be redeemed later for more travel purchases.
People who don’t seek new credit often
You'll need to meet a few requirements to qualify for a Chase Sapphire Reserve®. If you have another Chase Sapphire Reserve®, you’re ineligible to apply for the Chase Sapphire Reserve®. There are also some regulations regarding how many credit card applications you’ve submitted over the past two years.
People who want travel and purchase protections
While the points are the main perk you may consider with this credit card, the travel and purchase protections should also be considered. Making purchases with the Chase Sapphire Reserve® can help provide travel protections and purchase protections to help you out in unforeseen circumstances.
Who shouldn’t use the Chase Sapphire Reserve®?
People with bad credit
Unfortunately, this card may not be attainable for you if you have poor credit or fair credit. Instead, you might consider looking at credit cards to help you build your credit.
People who want rewards on everyday purchases
The Chase Sapphire Reserve® offers some great benefits. However, these benefits mostly come from travel and dining purchases. If you want a rewards credit card that offers cash back or points for purchases at grocery stores, gas stations, and so on, you may want to look at other options.
People who don’t travel
To get the most benefit from this card, you have to redeem your points for travel purchases through Chase Ultimate Rewards. If you don’t travel often, you won’t be able to earn rates at the highest levels and won’t get as much value from the points after you’ve accrued them.
Pros and cons
Pros
- Frequent travelers can use the card to earn points from travel purchases and redeem those points for more travel purchases at the highest value.
- You’ll receive some of the best travel and purchase protections when you make those purchases with this card.
- There is a generous signup bonus that can help you jump-start your rewards within months of opening your account.
Cons
- There is a high annual fee for this credit card.
- You’ll only get the most value if you make travel purchases and redeem your travel rewards through Chase Ultimate Rewards.
- You must have an excellent credit score to qualify for this credit card.
Chase Sapphire Reserve® vs. competitors
Credit Card | Annual fee | Purchase APR | Intro offer |
Chase Sapphire Reserve® | $550 | 22.49%-29.49% | Earn 60,000 bonus pointsafter you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠. |
Chase Sapphire Preferred® Card | $95 | 21.49%-28.49% | Earn 60,000 bonus pointsafter you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠. |
Chase Freedom Unlimited® | $0 | 20.49% - 29.24% | Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year)— worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases. |
Capital One Venture Rewards Credit Card | $95 | 19.99% - 29.99% | Limited-time offer: For a limited time, earn 75,000 Milesonce you spend $4,000 on purchases within the first 3 months of account opening, plus receive a one-time $250 Capital One Travel credit in your first cardholder year – that’s equal to $1,000 in travel |
Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card is a good option if you’re looking for a premium travel card with a lower annual fee. Like the Chase Sapphire Reserve®, you can earn points by purchasing from Chase’s travel partners through its travel portal. The rewards program offers fewer points than the Chase Sapphire Reserve®. Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.. Like the Chase Sapphire Reserve®, you’ll earn one point per $1 on eligible purchases in all non-specified categories.
In addition to the opportunity to earn Chase Ultimate Rewards points, this card has other perks. It offers the opportunity to earn 10% of your total purchases for the year after your first year and following account anniversaries. You can also earn more in rotating spending categories by using Pay Yourself Back. This makes your points 25% more valuable if you redeem them for statement credits against existing purchases according to the rotating spending category schedule.
Chase Freedom Unlimited®
Chase Freedom Unlimited® is another good card from Chase, but unlike the Chase Sapphire Reserve®, you use the card to earn cash back instead of points. Earn 1% cash back on all purchases plus $20 Good Standing Rewards after each account anniversary for up to 5 years
This card might not be the first one that comes to mind when considering travel credit cards, but it offers travel benefits. When deciding which card is right for you, you should consider what you spend your money on the most. Chase Freedom Unlimited® can be a good option if you travel sometimes but want to earn cash back for other purchases.
Capital One Venture Rewards Credit Card
Capital One Venture Rewards Credit Card is another good option if you’re looking for a travel rewards credit card. With this card, you earn miles instead of points or cash back. 2 Miles per dollar on every purchase, every day. 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel.
This card has an annual fee, but it can still be worthwhile. Numerous travel benefits come with the card, in addition to the opportunity to earn miles. For example, you can enjoy no foreign transaction fees and travel insurance for covered losses. You can use Capital One Travel to book your travel or transfer miles to Capital One’s transfer partners to use with their loyalty programs. Additionally, you can access Capital One Lounges and global lounge locations through the Partner Lounge Network.
FAQs
What travel purchases can you make through Chase Ultimate Rewards?
With Chase Ultimate Rewards, you can shop within the portal to get the most out of your 60,000-point bonus and all the points you earn after that. You can purchase airfare, cruises, hotel stays, and more through the portal. You may also be able to transfer points to Chase’s hotel and airline partners.
Are there other redemption options?
Yes, you can redeem your points in other ways as well. However, you should be aware that the points may have more or less value depending on your redemption option. For example, you can redeem your rewards as statement credits or gift cards, but the rate is one cent per point.
How do balance transfers work?
Balance transfers are when you transfer the balance of one credit card to another. When this happens, the credit card that you transfer the balance to will pay off the balance on the old credit card. This can be a good option if you’re working on paying off a credit card with a higher interest rate.
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- Subject to qualification and approval. $1,500 monthly income required.
- Apply in 5 minutes. If you qualify, chat online with a friendly online debt representative.
The bottom line
The Chase Sapphire Reserve® is an excellent travel reward credit card from Chase. Though there is no application fee when you apply for the card, you need to be aware of the annual fee after approval and enrollment. Before applying for this credit card or any credit card, I recommend considering what you intend to purchase with the credit card and which bonuses will benefit you the most.
Though this is an excellent travel reward card, it’s not the only one you should consider. For example, if a no-annual-fee credit card is important to you, you should focus your search on travel cards with no annual fee. Depending on how often you travel, you may also want to consider what other purchases you can earn rewards from.
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Writer
Ashley Hart is a lead copywriter and digital marketing expert covering finance, law, real estate, music, entertainment, health and wellness.
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