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TravelChase Sapphire Reserve card review: Full details

Chase Sapphire Reserve card review: Full details

Chase Sapphire Reserve Card overview

The Chase Sapphire Reserve® is one of the best rewards credit cards of all time. Offering up to 10 points per dollar on travel and dining through Chase Travel℠, this card earns incredibly valuable Ultimate Rewards points that can be transferred to hotel and airline partners or redeemed directly for flights at a rate of 1.5 cents per point. Add in a $300 annual travel credit, airport lounge access and a litany of other perks, and this card is guaranteed to upgrade your travel lifestyle. Card Rating*: ⭐⭐⭐⭐½

*Card Rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

The Chase Sapphire Reserve is the card that convinced average consumers that they could come out ahead with a premium credit card even after paying an annual fee of several hundred dollars a year.

In fact, the Sapphire Reserve was so successful from the moment it launched in 2016 (with an initial 100,000-point welcome bonus) that Chase temporarily ran out of the metal slabs needed to produce the cards.

If you have an excellent credit score and want premium benefits, the Sapphire Reserve could be a great option for you. Let’s review the features that continue to make it such an attractive travel credit card — one that has earned a permanent spot at the top of many TPG wallets.

Chase Sapphire Reserve pros and cons

Pros Cons
  • $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year
  • Access to Chase Travel hotel and airline partners
  • Unlimited 3 points per dollar spent in the broad categories of travel and dining
  • 50% more value when you redeem your points for travel through Chase Travel
  • Broad definitions for travel and dining bonus categories
  • Steep $550 annual fee
  • It may not make sense for people who don’t travel frequently
  • You must spend the $300 travel credit before earning 3 points per dollar on travel and dining
  • No automatic hotel elite status

Chase Sapphire Reserve welcome offer

Right now, the Chase Sapphire Reserve has a welcome offer of 75,000 points after you spend $4,000 on purchases in the first three months from account opening. The standard offer on the Reserve for the last few years has been 60,000 bonus points, so this makes it an excellent opportunity to apply for the card.

With a value of 2.05 cents apiece for Chase Ultimate Rewards points (according to TPG valuations), the current 75,000-point bonus on the Sapphire Reserve is worth $1,538. That’s equivalent to more than three years of its $550 annual fee.

Even if you don’t utilize Chase’s transfer partners, Sapphire Reserve cardholders get a value of 1.5 cents per Ultimate Rewards point when redeeming for travel in the Chase Travel portal, making the bonus worth $900 when redeemed through the portal. Even if you’re a novice in the travel rewards field and don’t know how to maximize transfer partners, you’re guaranteed to get your money’s worth in travel from the welcome bonus if you use your points to book travel through the portal.

Remember, too, that booking a flight this way typically counts as a revenue booking. This means you’ll earn airline miles and elite credit as well, getting you even more value.

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That said, it’s important to keep Chase’s application restrictions in mind, especially regarding the Sapphire cards. And because of Chase’s 5/24 rule, you’ll want to apply for Chase cards first before turning to other issuers. That’s why picking the right Sapphire product for your situation is critical.

Related: The best time to apply for these Chase cards based on offer history

Chase Sapphire Reserve benefits

The Chase Sapphire Reserve doesn’t offer quite as many perks as The Platinum Card® from American Express, but it has plenty of valuable perks to appeal to many travelers. Here are the details on the main benefits of the Sapphire Reserve:

Annual travel credit

One of the biggest benefits of the card is the $300 annual travel credit. Chase will automatically credit your account $300 when you use it to make eligible purchases — which cover a wide variety of travel providers:

Merchants in the travel category include airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages.

This perk alone lowers your effective annual fee to just $250.

Lounge access

Sapphire Reserve cardholders get access to Chase Sapphire Lounges as well as access to Priority Pass lounges (including restaurants, although this benefit ends June 30) for themselves and up to two guests.


In addition, authorized users receive the same airport lounge access on their own — though you’ll pay an extra annual fee of $75 for each additional cardholder.

The Priority Pass network includes some premium lounges, both in the U.S. and abroad. In recent years, Priority Pass also added airport restaurants to its network (you can see the full list here). American Express cut these restaurants from its Priority Pass benefit in 2019, and Capital One removed this perk as of the start of 2023, but Chase Sapphire Reserve cardholders continue to get free food (usually ~$28 per person) at all of these locations through June 30.

Free DoorDash DashPass subscription

Chase Sapphire Reserve cardholders qualify for a free DoorDash DashPass subscription through Dec. 31.


In addition, you’ll receive $5 per month in DoorDash credits that roll over two months before expiring, meaning you can save up to $15 to use all at once before expiration.

Lyft benefits

Chase Sapphire Reserve cardholders receive 10 points per dollar on Lyft purchases through March 2025. This is akin to getting over a 20% return on Lyft rides since TPG values Chase Ultimate Rewards points at 2.05 cents apiece.

Cardholders also receive a complimentary Lyft Pink All Access membership for two years, worth up to $199 annually. Activate by Dec. 31.

Instacart benefits

Cardholders get one year of complimentary Instacart+. Activate by July 31.

Instacart+ members also get up to $15 in statement credits for Instacart purchases each month through July.

Application fee credit for Global Entry or TSA PreCheck

Like many other premium cards, the Sapphire Reserve will reimburse you for the application fee for Global Entry or TSA PreCheck when you charge it to your card. When the Global Entry application fee rises to $120 (currently $100) in October, Chase will adjust this reimbursement accordingly. Remember that Global Entry includes PreCheck, so that’s the smarter choice.


This benefit is available to cardholders once every four years. If you have already enrolled, you can use the credit to cover a friend’s or family member’s application fee.

Visa Infinite perks

Because the Sapphire Reserve is a Visa Infinite card, you’ll receive the perks that come along with the program. Highlights include primary rental car insurance, trip cancellation and delay coverage, lost luggage reimbursement, a concierge service and access to the Luxury Hotel & Resort Collection.

Earning points on the Chase Sapphire Reserve

Besides the welcome bonus, the bonus earning categories will also help build your Ultimate Rewards account. Here’s an overview of what you’ll earn on the card:

  • 10 points per dollar on hotels and car rentals purchased through Chase Travel
  • 10 points per dollar on dining purchases through Chase Ultimate Rewards
  • 10 points per dollar on Lyft rides (through March 31, 2025)
  • 10 points per dollar on Peloton equipment and accessory purchases (through March 2025) of $150 or more, with a maximum of 50,000 points
  • 5 points per dollar on flights purchased through Chase Travel
  • 3 points per dollar on all other travel (excluding the $300 travel credit) and dining purchases worldwide
  • 1 point per dollar on everything else

Note that you won’t earn any points on the first $300 spent on travel purchases each cardmember year, as that will trigger the card’s $300 travel credit.


Once you factor in the $300 travel credit, the annual fee difference between the Sapphire Reserve and the Chase Sapphire Preferred® Card is $155 ($250 versus $95). That means you’d need to earn an extra 7,561 Ultimate Rewards points a year with the Reserve to come out ahead (based on TPG’s valuations and without considering any other perks and benefits). You can hit that mark by spending at least $211 monthly on travel (earning at least 3 points per dollar spent) or $631 on everyday purchases (earning 1 point per dollar spent).

Related: Is the Chase Sapphire Reserve worth the annual fee?

Redeeming points on the Chase Sapphire Reserve

The ability to redeem rewards with partners is one of the most important aspects of a travel rewards credit card, and that’s definitely the case with the Sapphire Reserve. If you transfer your points to one of Chase’s 14 travel partners, there’s potential for some amazing redemptions. You could get a two-night stay at a Category 7 Hyatt property or a flight to Europe in Delta One business class (by transferring to Virgin Atlantic) with this bonus alone.


In addition to redeeming with transfer partners, you can book travel through the Chase Travel portal with points valued at 1.5 cents each. While it’s not always the best value, this is a great option for boutique hotels that don’t belong to a larger brand, such as Marriott or Hyatt. It’s also great for booking flights when cash prices are low.

With the Pay Yourself Back program, you can currently redeem your points at a value of 1.5 cents each at select charities through June 30. You also have the option to use your points to cover gas purchases, pet supply stores or your annual fee at a rate of 1.25 cents apiece through June 30.

If you’re new to Chase Ultimate Rewards, make sure to see our guide to redeeming Chase Ultimate Rewards for maximum value.

Related: Best sweet spots with Chase Ultimate Rewards

Transferring points on the Chase Sapphire Reserve

Again, the most valuable use of your Chase Ultimate Rewards is to transfer them to one of Chase’s 14 airline and hotel transfer partners, including valuable options like British Airways Executive Club, United Airlines MileagePlus and Southwest Airlines Rapid Rewards.


TPG director of content Summer Hull especially loves the option to transfer her points to World of Hyatt, since she can use them to book stays at resorts or city properties that would typically be out of her budget, while others of us at TPG prefer to stay at Category 1 properties to stretch our points as far as possible. No matter how you prefer to use your rewards, you’ll find some great transfer options in Chase’s list of partners.

Related: How to redeem Chase Ultimate Rewards points for maximum value

Which cards compete with the Chase Sapphire Reserve?

The Sapphire Reserve’s most natural competitors are another card earning the same points but with a lower annual fee and two other premium travel credit cards.

  • If you want a mid-tier card with a lower annual fee: The Chase Sapphire Preferred Card is a good choice for earning Chase Ultimate Rewards points but with a lower annual fee of $95. You’ll get numerous travel protections and have access to all the same hotel and airline partners as you would with the Sapphire Reserve. For more information, check out our full review of the Sapphire Preferred.
  • If you want a premium travel card with a lower annual fee: The Capital One Venture X Rewards Credit Card offers access to Priority Pass, Plaza Premium and Capital One lounges but has a lower annual fee of $395 (see rates and fees). You’ll also enjoy insurance protections and earn at least 2 miles per dollar on all purchases plus up to $300 in credits each year. For more information, check out our full review of the Capital One Venture X.
  • If you want more lounge access and credits: The Platinum Card® from American Express offers over $1,500 in annual credits, if you can use all of them. Plus, it offers access to Priority Pass lounges and dozens of others, including the Amex Centurion Lounge network. Enrollment is required. However, the card does have a higher annual fee of $695 (see rates and fees). For more information, check out our full review of the Amex Platinum.

For additional options, check out our full list of best travel credit cards and best Chase credit cards.

Related: Chase Sapphire showdown: Sapphire Preferred vs. Sapphire Reserve

Bottom line

The Chase Sapphire Reserve is nearly a no-brainer credit card for those who love travel rewards — especially for more frequent travelers.

With 3 points per dollar on travel and dining categories, industry-leading travel protections, valuable Chase Ultimate Rewards points and various perks, the Chase Sapphire Reserve is one of the best credit cards.

Apply here: Chase Sapphire Reserve with 75,000 points after you spend $4,000 on purchases in the first three months from account opening

For rates and fees of the Amex Platinum Card, click here.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.


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