How the Chase Sapphire Reserve Card Could Save You $3,000 in Your First Year

Looking to save thousands on travel this year? If so, now is the time to check out the Chase Sapphire Reserve® (see rates and fees).

Although the $795 annual fee might be tough to swallow, the Chase Sapphire Reserve® more than makes up for it with loads of perks and a huge sign-up bonus.

In fact, you can save more than $3,000 with the Chase Sapphire Reserve® in your first year. Here's how.

A welcome offer worth at least $1,250 in travel

Right now, the Chase Sapphire Reserve® is offering one of its best-ever welcome bonuses: 125,000 bonus points after spending $6,000 in the first 3 months.

Points are worth $0.01 apiece when redeemed through Chase Travel, which means this bonus is worth at least $1,250 in travel rewards -- and potentially even more if you can take advantage of Chase's new Points Boost program.

With Points Boost, your points are worth $0.02 per point when you book a hotel that's part of Chase's The Edit℠ program, and up to $0.02 per point on other select hotels and flights.

At bare minimum, though, you'll get at least $1,250 in travel rewards, which more than covers the Chase Sapphire Reserve®'s $795 annual fee. If you can hit the $6,000 spending requirement in the first 3 months, you're already in the black for year one.

Want to land this lucrative bonus now? Read our full review of the Chase Sapphire Reserve® and apply today to see if you qualify.

$2,310 in annual statement credits

The Chase Sapphire Reserve® also comes with a laundry list of annual statement credits, including:

• $500 for bookings at “The Edit” hotel collection ($250 twice a year)
• $300 annual travel credit
• $300 for event tickets on StubHub or viagogo ($150 twice a year)
• $300 in monthly DoorDash promotions
• $300 in dining credits with Sapphire Reserve Exclusive Tables ($150 twice a year)
• Complimentary subscriptions to Apple Music and Apple TV+ ($250 annual value)
• $120 in Peloton membership credits
• $120 in Lyft credits
• Complimentary DashPass membership ($120 annual value)

Altogether, that adds up to $2,310 in annual perks. It won't be easy to use each and every one, but getting even halfway there more than covers the annual fee.

And if you combine all of these perks with the current welcome bonus, you're looking at $3,560 in potential first-year value.

High earning rates and additional perks

The Chase Sapphire Reserve® also comes with some less tangible travel perks that can still provide serious value. First, it comes with high points-earning rates:

• 8x points on all purchases through Chase Travel℠, including The Edit℠
• 4x points on flights and hotels booked direct
• 3x points on dining worldwide
• 1x points on all other purchases

You'll also get access to premium airport lounges, including:

• Priority Pass lounges -- that's 1,300+ lounges worldwide with free food, wifi, and spa options
• Chase Sapphire Lounges with showers and relaxation areas
• Air Canada Lounges and Air Canada Cafés in the U.S., Canada, and Europe

And the Chase Sapphire Reserve® comes with strong travel protections for peace of mind, which could save you hundreds or even thousands in an emergency. Those include:

• Baggage delay insurance: $100/day for up to five days
• Lost luggage reimbursement: Up to $3,000 per traveler
• Trip cancellation insurance: Covers up to $10,000 per traveler and $20,000 per trip for eligible expenses
• Emergency medical and dental coverage: Up to $2,500 reimbursement per trip ($50 deductible)

It should be easy to get at least a few hundred dollars of value from all these perks, especially given those high earning rates and the fact that a Priority Pass membership costs up to $469 a year. That means you could be looking at $3,800+ in first-year value.

Subtract the $795 annual fee, and congratulations -- you've still saved $3,000 in your first year with the Chase Sapphire Reserve®.

Ready to start earning with this top-tier travel card, or an alternative? Check out our list of the best travel credit cards now to compare and find the best fit for you.