Chase Sapphire Reserve® Review
Since its release in late 2016, the Chase Sapphire Reserve<sup>®</sup> credit card has experienced a tremendous amount of hype. The combination of generous rewards and valuable perks have made it one of the most sought-after rewards credit cards available. However, even with all of the attractive benefits, an annual fee of $450 can lead people to wonder if it’s really worth it.
Let’s take a deeper look at everything the Chase Sapphire Reserve card offers. This should help you make an educated decision on whether or not this card is a good fit for your wallet.
What You Get
The Chase Sapphire Reserve card is perfect for frequent travelers and anyone that loves to eat out. When using the card on travel expenses or at restaurants, you will receive 3X Chase Ultimate Reward points for every $1 spent. For all other purchases made, you will receive 1X points.
Cardholders will receive a 50,000 point signup bonus after making $4,000 worth of purchases within the first three months. When your points are used for travel on the Chase Ultimate Rewards platform, they will be worth 1.5 cents each. That makes the sign up bonus worth at least $750 for travel. You can also choose to transfer your points any of the many Chase partner travel loyalty programs, including Southwest Airlines, United Airlines, Hyatt and others.
Your ability to earn valuable rewards on every purchase is only part of what makes this card so great. Additionally, you will also receive a $300 annual travel credit. While many other cards offering the same type of credit make it difficult to use, Chase is different. As soon as you make a travel related expenses, whether it’s airfare, a hotel room, or something else, you will receive a statement credit for that amount, up to the $300 annual limit.
Another popular benefit you will receive with this card is a $100 statement credit when you apply for either Global Entry or TSA Pre✓®. This will allow you to make your way through airport security and customs much faster.
If you are a frequent traveler and have ever spent time in an airport lounge then you know just how nice they can be, including comfortable seating, food, drinks and much more. As a Sapphire Reserve cardholder, you will receive a complimentary Priority Pass™ Select membership. This will give you access to over 1,000 airport lounges around the world.
In addition to all of these great benefits, you will also receive several valuable travel protections. If your trip is cancelled or cut short because of a covered reason, you could be compensated up to $10,000 with trip cancellation/interruption insurance.
You would also receive primary auto rental collision damage coverage. Other travel benefits include lost luggage reimbursement, travel accident insurance, and trip delay reimbursement.
The value of the card doesn’t end with travel. You will also receive several shopping benefits as well. Purchase protection will cover any purchases from damage or theft for 120 days, up to $10,000. Plus, return protection will give you the ability make a return, up to 90 days, even if the store will no longer accept the item.
When originally released, it was possible to have both the Chase Sapphire Reserve card and its counterpart the Chase Sapphire Preferred® Card. In 2017, Chase updated its terms and now you are only permitted to carry one Sapphire card at a time.
What You Don’t Get
The biggest downside to the Chase Sapphire Reserve card is the extremely high annual fee. $450 is a lot of money to spend for many people. However, if you are a frequent traveler then the annual travel credit and Global Entry credit nearly cover the fee the first year.
This card provides a lot of value to anyone that loves to travel or eat at restaurants. However, these are the only categories that offer bonus points for purchases. If you frequently spend a lot of money each month on things like groceries, clothing, or even at gas stations, then this might not be the best card.
The Bottom Line
Since the release of the Chase Sapphire Reserve<sup>®</sup> card, several other issuers have unveiled premium cards. While many of them have great benefits, the Sapphire Reserve card remains dominant. Between the attractive signup bonus, high purchase rewards, and other great benefits, this card is perfect for just about any wallet. You just need to be able to justify such a high annual fee.
Editorial Note: The information related to Chase Sapphire Reserve® has been collected by Credit Cards House and has not been reviewed or provided by the issuer of this card.
First published , last updated
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.