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The Chase Sapphire Reserve® offers a huge sign-up bonus, lucrative travel statement credits, and a robust rewards program packed with different airline and hotel transfer partners. For these perks, Chase Sapphire Reserve®'s annual fee is high. So, is the best travel card for you? Find out with our Chase Sapphire Reserve® review.
Limited time offer
Great for: Travel sign-up bonus and travel & dining spending
Rating image, 4.5 out of 5 stars.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
Bottom Line
The sign-up bonus, premium rewards for travel & dining, and wide array of valuable travel credits make this a compelling offer that will offset the cost of the annual fee for many. The array of limited time offers make it even more compelling.
Rewards
3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point on all other purchases.
Annual Fee
$550
Intro APR
Purchases: N/A
Balance Transfers: N/A
Ongoing APR
16.99%-23.99% Variable
Welcome Bonus
50,000 points after spending $4,000 within 3 months
Highlights
- Earn 50,000 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. From 6/1/20 through 6/30/21, gas station & grocery store purchases will also count towards earning your Travel Credit
- 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants including eligible delivery services, takeout and dining out & 1 point per $1 spent on all other purchases
- 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
- With Pay Yourself Back℠, your points are worth 50% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
- 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 Pass™ Select and up to $100 application fee credit for Global Entry or TSA Pre✓®
- Earn 3x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. Includes eligible pick-up and delivery services
Full Chase Sapphire Reserve review
This credit card is a good fit for: Travel enthusiasts who want a card that has it all. Those who can take advantage of this card's robust travel perks can get thousands of dollars in value.
Pros
- Big sign-up bonus
- Travel credits
- Airport lounge access
- Travel and dining rewards
- Flexible travel points
Cons
- Annual fee
LIMITED TIME OFFERS
More cash back on groceries: Earn 3 points per $1 on up to $1,000 of monthly grocery purchases through April 30, 2021.
Save money on take out: Get unlimited DoorDash deliveries with a $0 delivery fee and reduced service fees on qualifying purchases over $12. You must activate DashPass by Dec. 31, 2021.
Earn ride share perks: Receive a one-year complimentary membership to Lyft Pink, if you activate by March 31, 2022.
Pedal more with Pelaton: Earn $120 back on a Peloton Digital or All-Access membership through Dec. 31, 2021.
Top perks
50,000-point sign-up bonus: the Chase Sapphire Reserve® has a 50,000 points sign-up bonus when you spend $4,000 in the first three months after opening your account. Keep in mind that the annual fee doesn't count toward that spending minimum.
3 points per $1 spent on travel and dining: Any time you use your card for a travel or dining purchase, you'll earn 3 points per $1. There isn't any cap on this, which is nice if you're a heavy spender. Apart from those limited-time bonus categories mentioned above, all your other spending will earn the normal rate of 1 point per $1.
50% bonus points: Points redeemed for Ultimate Rewards travel are with 50% more, which equates to an effective rate of 4.5% back for travel and dining.
$300 annual travel credit: Chase reimburses you for up to $300 in travel purchases every account anniversary year. From June 1 through June 30, 2021, this credit also applies to gas station and grocery store purchases. Credits are applied to your statement automatically, so there's no work required on your part.
Priority Pass airport lounge access: You'll receive a complimentary Priority Pass Select membership (a one-time account activation is required), allowing you and up to two guests access to the program's airport lounges free of charge. Priority Pass has lounges in many major airports within the United States, and coverage is even better worldwide.
Global Entry/TSA PreCheck credit: Chase reimburses you either $100 for your Global Entry fee or $85 for your TSA PreCheck fee every four years, so you can register as a trusted traveler and get through airport security more quickly. It's better to sign up for Global Entry because that also includes TSA PreCheck, meaning you get the benefits of both. TSA PreCheck doesn't include Global Entry.
Cash-back-redemption rate: Chase Sapphire Reserve® cash back is effectively worth 3% for travel and dining, and 1% on other base purchases. While cash back isn't the best use of points for most travel cards, Chase Sapphire Reserve®'s cash-back rate is better than what you'd get with a competing travel card where points redeemed for cash back are worth less than $0.01 apiece.
Chase Ultimate Rewards program: This Chase travel card is part of Chase Ultimate Rewards, which offers excellent redemption options. One popular way to use your points is by sending them to the loyalty programs of Chase's airline and hotel partners, and then making award bookings.
What could be improved
Annual fee: Chase Sapphire Reserve®'s annual fee is $550. This fee is justifiable for travelers who can take advantage of the perks, but it is worth considering the value you can harvest before applying.
Is Chase Sapphire Reserve's annual fee worth it?
The Chase Sapphire Reserve® $550 annual fee puts a solid dent in your wallet. For that fee to be worth it, you'll need to have moderate to high spending and use most or all of the card's benefits.
Do keep in mind that Chase Sapphire Reserve®'s annual fee is charged in the first year, not waived for your first year like some other travel credit cards.
In year one, the card is well worth it when you tally up the $750 value of the sign-up bonus, the $300 worth of travel credits, and the $100 reimbursement for Global Entry or TSA PreCheck. You'd come out $600 ahead after subtracting the Chase Sapphire Reserve®'s cost for the annual fee.
The equation changes beyond year one. In those out years, the $300 annual travel credit brings the cost down to $250. You'd then need to earn roughly 17,000 Ultimate Rewards points to breakeven on the annual fee. Getting to that number the hard way, you'd need to spend $17,000 annually for purchases that earn at the 1x rate. The reality is many purchases will be in bonus categories that earn at the 3x rate, making it much easier to breakeven on the annual fee.
Read more: Is Chase Sapphire Reserve® worth the annual fee?
Compare to other popular travel cards: Chase Sapphire Reserve® vs. The Platinum Card® from American Express
Suggested credit score
A credit score of 670 or higher is needed to secure approval for the Chase Sapphire Reserve®. The Chase Sapphire Reserve® approval odds are highest with a credit score of at least 700. It's possible to get approved with a lower score, as applicants have reported approval with scores in the mid and even low-600s. Chase will also consider your income and debts when making its decision.
Consumers who have opened Chase credit cards in recent years will need to be aware of Chase's 5/24 rule. If you don't meet Chase's approval requirements here, it can lead to an automatic denial of your application.
Alternatives to consider
- If you want to pay a lower annual fee: Chase Sapphire Preferred® Card is the sister card of the Chase Sapphire Reserve® with a lower annual fee. In exchange for the lower annual fee, the rewards earned (2x points per $1 for travel and dining) and bonus value for Chase redemptions are slightly lower (25% points bonus).
- If you're not looking for a Chase travel card: If you don't mind foregoing Chase Ultimate Rewards points, the Citi Premier® Card is a solid contender. It's annual fee is far lower and you can still earn 3x points per $1 for travel and dining, plus supermarkets, and gas.
As of Jan. 05, 2021
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| Chase Sapphire Preferred® Card | Citi Premier® Card |
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Rating image, 5.0 out of 5 stars.
5.0 stars
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. |
Rating image, 4.5 out of 5 stars.
4.5 stars
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. |
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Apply Now
On Chase's Secure Website. |
Apply Now
On Citi's Secure Website. |
| Read Full Review | Read Full Review |
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Credit Rating Requirement: |
Credit Rating Requirement: |
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Welcome Bonus: 60,000 points after spending $4,000 within 3 months |
Welcome Bonus: 60,000 points after spending $4,000 within 3 months |
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Rewards Program: 2x points on travel and dining, 1x points on all other purchases. 25% more points for travel booked through Chase's portal. |
Rewards Program: 3x points at restaurants and supermarkets as well as at gas stations, air travel, and hotels, 1x points on all else |
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Intro APR: Purchases: N/A, N/A Balance Transfers: N/A, N/A |
Intro APR: Purchases: N/A Balance Transfers: N/A |
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Regular APR: 15.99% - 22.99% Variable |
Regular APR: 15.99% - 23.99% (Variable) |
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Annual Fee: $95 |
Annual Fee: $95 |
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Highlights:
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Highlights:
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Apply Now
On Chase's Secure Website. |
Apply Now
On Citi's Secure Website. |
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This credit card is right for you if:
The Chase Sapphire Reserve® could be a great choice if most or all of the following are true:
- You can take advantage of the annual travel credits and reimbursement for Global Entry or TSA TSA PreCheck.
- You normally travel three or more times per year.
- You have good to excellent credit.
- You want the versatility of a rewards program that allows you to transfer points to your favorite hotel and airline brands.
With all the benefits of the Chase Sapphire Reserve®, the right cardholder can get substantial value from it. But $550 is a lot to pay for a credit card, and its benefits aren't for everyone. A lower annual fee or no-annual-fee travel card may be better if you're wary of the annual fee.
The simplest way to decide is to see how you feel about the features the card offers. If you're unsure how much you'll use them, there are plenty of other top credit cards to consider. If you're excited about most of this card's perks, you'll love the Chase Sapphire Reserve®.
About the Author
Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.
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