Updated January 16, 2018
Chase Sapphire ReserveSM hit the market with a thud more forceful than its heavy metal footprint plunking down on a table. Few travel credit cards have dished out such lucrative rewards. So much so that Chase didn’t have to spend much on marketing, relying, rather, on the internet to carry the load with the card going viral quickly after launch. With that in mind, let’s cut through the noise to help you understand if Chase Sapphire ReserveSM is a fit for what you’re seeking and learn why we consider it to be one of the best travel credit card sign-up bonuses.
- 50,000 points sign-up bonus
- $300 annual travel credit
- Earn up to 3x points per $1
- No foreign transaction fee
- List of points transfer partners
- Priority Pass™ Select Lounge Access
- $100 credit for Global Entry or TSA Pre✓®
- $450 annual fee
|Bonus Offer||Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.|
Reg: 17.24% - 24.24%, variable
|Balance Transfer APR||
Reg: 17.24% - 24.24%, variable
- Earn 50K bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year
- 3X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases. Plus, no foreign transaction fees
- Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
- 1:1 point transfer to leading airline and hotel loyalty programs
- Access to 1,000+ airport lounges worldwide after an easy, one-time enrollment in Priority PassTM Select
- Up to $100 application fee credit for Global Entry or TSA Pre✓®
- No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
What we like about Chase Sapphire ReserveSM
- 50,000 bonus points – Qualifying new cardholders will receive 50,000 bonus points after spending at least $4,000 on purchases within three months of account opening.
- 50% bonus points travel redemption – Points redeemed for travel through Chase Ultimate Rewards® will bump up your overall yield significantly with a 50% bonus. That means the 50,000 sign-up bonus is worth $750 towards travel, or $500 redeemed for cash back.
- $300 annual travel credit – Cardholders receive up to $300 in statement credits each year to reimburse travel purchases, such as airfare or hotels charged to the card.
- Up to 3x points per $1 – Travel and dining purchases earn 3x points per $1, both worldwide. All other purchases earn 1 point per $1. A point is generally worth $0.01, but redeeming points through Chase Ultimate Rewards® for travel increases the value per point to $0.015 apiece, working out out to a lofty 4.5% yield for bonus categories and 1.5% for all other purchases. Not only is the yield high in bonus categories, but bonus purchase points are uncapped -- many credit cards cap bonus points up to a quarterly spending limit.
- No foreign transaction fee – Pesky foreign transaction fees can quickly add up when whipping out credit cards for purchases abroad. Fortunately, Chase Sapphire ReserveSM has nixed the typical 3% foreign transaction fee many card issuers charge. That’s a savings of $60 on $2,000 worth of international spending!
- Points transfer partners - Chase has secured one of the longest lists of points transfer partners we’ve seen, making the Chase Sapphire Reserve® card a no-brainer for cardholders stretching their points. Here’s a sample list of participating programs: British Airways Executive Club, Flying Blue AIR FRANCE KLM, Korean Air SKYPASS, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards®, United MileagePlus®, Virgin Atlantic Flying Club, Hyatt Gold Passport®, IHG® Rewards Club, Marriott Rewards®, and The Ritz-Carlton Rewards®.
- Priority Pass™ Select Lounge Access - Cardholders can enroll in this program, which opens up access to over 1,000 airport lounges worldwide.
- $100 credit for Global Entry or TSA Pre✓® - Pay for your enrollment in either services with your card and receive a $100 statement credit. This perk, in combination with the other credits, helps to defray the costs of the annual fee and adds a ton of value.
What could be improved about Chase Sapphire ReserveSM
- Annual fee – The price for such lucrative rewards is a big $450 annual fee. Granted, an annual fee is warranted for such a premier card but it is a high fee, nonetheless, and isn’t waived for the first year.
How to best use Chase Sapphire ReserveSM
- Travel rewards cardholders will generally be better off paying balances by the due date monthly to avoid interest charges. It’s a losing strategy to rack up debt for the sake of earning rewards at single-digit rates only to watch as they get eaten up by far higher double-digit interest charges.
- Run your budget numbers before applying and ensure the card makes sense for your needs. It takes $10,000 worth of travel and dining purchases redeemed through Chase’s portal to just breakeven on the $450 annual fee. The math goes as follows: $450 ÷ 0.045 = $10,000. Granted, the bonus and travel credits will reduce the required amount to breakeven. But the bonus is a one-time shot and we believe cardholders should establish long-term relationships with their cards, not churn the offer by grabbing the bonus and cancelling the card.
- Redeem points for travel through Chase Ultimate Rewards® to stretch the value by 50%. Chase's booking portal offers access to more than just airfare and runs the gamut of travel-related purchases, including hotels.
- Consider placing travel and dining purchases on Chase Sapphire ReserveSM and all other purchases on an alternative credit card with a higher base rate for non-bonus-category purchases. Remember, the highest yield you can get outside of bonus categories is 1.5%, whereas carrying a Chase Freedom® cash-back card as well can help you earn more rewards. The juice of carrying a few cards to optimize rewards may be worth the squeeze, especially for the type of person considering Chase Sapphire ReserveSM, who has a large credit spending budget.
Chase Sapphire ReserveSM vs. Chase Sapphire Preferred®: Which Is best?Some cardholders may either not spend enough on credit or travel to justify the $450 annual fee for Chase Sapphire ReserveSM or may not value the various credits and soft benefits. In that case, Chase Sapphire Preferred® may be the better option. Both cards include the same 50,000 points sign-up bonus but Sapphire Preferred® has some notable differences. The card carries a smaller $95 annual fee (waived the first year), doesn’t include annual travel credits, and points are worth 25% more when redeemed for Chase Ultimate Rewards® travel. Worldwide dining and travel purchases earn 2x points per $1 and all other purchases earn 1 point per $1. Ultimately, both credit cards are considered by many to be best-in-class, must-have travel cards, but deciding between the two comes down to your credit spending budget. We give a slight edge to Chase Sapphire Preferred® since the majority of cardholders don’t spend enough on credit to justify a $450 annual fee, but we recognize both cards have fans for good reasons. It’s worth reading our full Chase Sapphire Preferred® review and then running your budget numbers to see if one is better for your needs.