5 Ways Your Chase Sapphire Reserve Card Can Get You Amazing Deals

When I see a credit card annual fee that more closely resembles a car payment, I hope that card has a lot to offer. The Chase Sapphire Reserve® is a good example. This popular travel rewards card has a $550 annual fee (see rates and fees) -- yet it also has thousands of cardholders. There has to be something to it, right?

Right. This card offers a ton of ways to recoup its cost, not the least of which are some of these great deals.

1. Free travel with Ultimate Rewards points

The Chase Sapphire Reserve® earns Ultimate Rewards points. These are travel rewards that you can redeem for free travel (terms apply).

If you want the easy method, you can redeem through the Chase Travel portal. Chase Sapphire Reserve® cardholders get a bonus in the portal, so you'll earn a total of $0.015 per point when you redeem this way.

If you really want a deal, however, you can transfer your points to a hotel or airline loyalty program. These can then be redeemed through the hotel or airline, hopefully at a high rate -- you can get $0.03 or more per point in some cases. Business-class flights tend to offer the best per-point value.

Cardholders can earn points on their spending in a few useful bonus categories, including travel and dining. But the big score is the welcome bonus, which could start you off with enough points to fly to Europe (round trip in coach, one way in business).

2. Complimentary airport lounge access

One of my absolute favorite travel card perks is airport lounge access. It's saved me hundreds of dollars over the years. While my top card for lounge access is The Platinum Card® from American Express, the Chase Sapphire Reserve® is a close second place.

Chase Sapphire Reserve® cardholders get complimentary Priority Pass membership (enrollment required). This gives you access to more than 1,300 lounges around the world, typically with up to two guests per visit.

A typical lounge pass can easily top $50, making this a valuable perk for regular travelers.

3. Discounts and bonuses through Partner Benefits

The Chase Sapphire Reserve® currently offers Partner Benefits from four popular brands. Benefits include extra rewards, credits, and free memberships (terms apply).

• Lyft: Earn 10x total Ultimate Rewards points per $1 on Lyft rides. You also get a complimentary two-year Lyft Pink All Access membership. You need to activate your membership by Dec. 31, 2024.
• Peloton: Earn 10x total Ultimate Rewards points per $1 on Peloton equipment and accessory purchases over $150 (tops out at 50,000 total points). Expires March 31, 2025.
• DoorDash: Get $5 a month in DoorDash credits, redeemed at checkout. You also get a complimentary DashPass membership for a minimum of one year. Must activate by Dec. 31, 2024.
• Instacart: Get $15 a month in Instacart credits. You also get a one-year complimentary Instacart Plus membership. Must activate by July 31, 2024.

Note the individual expiration dates for each deal.

4. Credits and cash back through Chase Offers

Every Chase credit card comes with access to the Chase Offers portal, a fun place full of great deals for all kinds of retailers, restaurants, and services. Discounts are in the form of cash back, and they range from a few bucks to 15% of your order (most have caps).

Using Chase Offers is easy, since you only need to activate the offer and then use your card. The deal will trigger automatically when you make an eligible purchase.

The types of deals you'll see will vary a lot from cardholder to cardholder. I've even seen some hyper-local Chase Offers for businesses that I know are exclusive to my area.

5. Hotel benefits with The Edit by Chase Travel

This appears to be Chase's response to Amex's awesome Fine Hotels & Resorts program (which I love). Essentially, if you book a participating hotel through the program, you'll get an array of extra perks, including:

• Daily breakfast for two
• $100 property credit
• Space-available room upgrade at check-in
• Early check-in/late check-out (when available)
• Complimentary wifi

Properties in these types of programs are typically on the higher end, so expect to see a lot of hotels with $250+ nightly rates (most will likely be two-, three-, or even four-times that).

That said, if you're already looking to splurge on a fancy hotel, these types of programs offer a lot of value.

Was the annual fee the real deal all along?

I suppose, at the end of the day, we could consider that the card's annual fee may really be the best deal the Chase Sapphire Reserve® offers. Sure, it's a big fee, but the card's rewards, offers, and perks bring a lot of value to the table. For the right cardholder, the Chase Sapphire Reserve® could easily be worth every penny of its annual fee -- and then some.