- for Ultimate Rewards users97
- for Frequent Flyers89
- for Everyday use89
Chase Sapphire Reserve® Credit Card
The Chase Sapphire Reserve caused some serious waves when it was released in 2016, and many people still consider it to be the best premium travel rewards credit card available today. It’s a great option for anyone who likes to travel, despite its high annual fee. The Sapphire Reserve earns 3 points per dollar spent on travel and dining purchases, offers a number of transfer partners and gives you the ability to book through the Chase Ultimate Rewards travel portal at a value of 1.5 cents per point.
The Chase Sapphire Reserve comes with a number of travel protections too, including primary insurance for car rentals, delayed luggage coverage, trip cancellation benefits and more. To help offset the annual fee, the Sapphire Reserve has a $450 annual travel credit that is automatically applied to any travel purchases made on the card, including airfare. You are also given a fee credit for Global Entry or TSA PreCheck every four years and a Priority Pass Select membership that provides access to over 1,000 airport lounges around the world.
Chase Credit Card: Bonuses & Benefits
Knowing what benefits come with a credit card can help you decide if it’s a good fit for you. Here we cover the bonuses and perks that the Chase Sapphire Reserve® offers and the value of the Chase Ultimate Rewards® points you earn.
The Sapphire Reserve’s current sign-up bonus is 50,000 Ultimate Rewards points after spending $4,000 within the first 3 months of being a card member. The sign-up bonus is worth $750 toward travel purchases if you redeem your points directly through Chase’s travel portal. You can also transfer your points to a number of hotel and airline programs, like United, British Airways, Hyatt and more, at a 1:1 ratio and get even more value. Every year, including your first, you will receive $300 in statement credits as reimbursement for travel purchases that have been charged to your card.
What You Get
- 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
- Named a ‘Best Travel Credit Card for 2018’ by MONEY® Magazine
- 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. $0 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 Pass™ Select
- Up to $100 application fee credit for Global Entry or TSA Pre✓®
Your points won’t expire as long as you keep your Sapphire Reserve card open or if you switch to a different card that earns Ultimate Rewards points. If you decide to close your account, you should transfer your points to another Ultimate Rewards credit card. If you don’t have another UR card, you should transfer your points to an airline or hotel transfer partner.
What is the value of the Ultimate Rewards® Points?
Chase Ultimate Rewards points can be worth different amounts depending on how they are redeemed. If you redeem through Chase’s travel portal, they are always worth 0 cents each. If you decide to transfer to a partner like United, you can easily find values of over three or four cents per point. International business class and first class redemptions generally offer the highest value. Domestic travel often offers higher value for economy redemptions.
What is CPM and How Is It Calculated?
Cents Per Mile (CPM) is a way to measure the value of miles. It tells you how many cents you get for each mile you redeem by dividing the cash price of the airline ticket (minus taxes and fees charged for an award ticket) by the number of miles the award flight costs. This is a somewhat subjective calculation because the price of the flight in both cash and miles fluctuates by season and availability.
How we calculate CPM:
The Best Ways to Redeem Ultimate Rewards Points
The Ultimate Rewards program offers many great redemption opportunities. You could transfer Ultimate Rewards points to Singapore Airlines and redeem for Suites class; you could transfer to Hyatt and stay at any Hyatt hotel around the world for free; Or you could transfer to Air France KLM Flying Blue and redeem for 25 to 50 percent off during their Promo Award sale. Additionally, you can redeem your points at anytime for 0 cents each through Chase’s travel portal.
Atlanta–Fort LauderdaleEconomy classMiles price9,849points+$0 feeDollars price$147
Washington–Los AngelesEconomy classMiles price20,000points+$26 feeDollars price$337
Washington–HonoluluEconomy classMiles price25,000points+$20 feeDollars price$994
Miami–LimaEconomy classMiles price25,000points+$68 feeDollars price$527
San Francisco–SeoulEconomy classMiles price70,000points+$359 feeDollars price$1,211
Las Vegas–San JoseEconomy classMiles price23,182points+$0 feeDollars price$346
Los Angeles–HonoluluBusiness classMiles price45,000points+$10 feeDollars price$854
Miami–HoustonBusiness classMiles price30,000points+$13 feeDollars price$551
Pittsburgh–WashingtonBusiness classMiles price27,537points+$0 feeDollars price$411
Washington–ParisBusiness classMiles price80,000points+$646 feeDollars price$3,214
New York–MoscowBusiness classMiles price140,000points+$136 feeDollars price$2,982
New York–Punta CanaBusiness classMiles price30,000points+$47 feeDollars price$886
Other ways you can redeem points
Hotel Stays4 partners4 part.
Chase offers four hotel transfer partners, including IHG, Marriott, Ritz-Carlton, and Hyatt. Hyatt often offers the best hotel redemptions of these options.
Chase has some great airline transfer partners, including United, Air France KLM, Singapore Airlines, British Airways and more!
You can’t transfer your Ultimate Rewards points to any car rental programs, but you can redeem points for rentals at a rate of 1.5 cents each through Chase’s travel portal.
Gift Cards3 partners3 part.
Ultimate Rewards points can be redeemed for a number of different gift cards, including Amazon, Starbucks and Marriott.
Cash Back3 partners3 part.
You can redeem your points for cash back as statement credits at a rate of one cent each. However, you can get a better value of 1.5 cents each by redeeming through Chase’s travel portal for travel related purchases.
Everyday Earnings with Chase Sapphire Reserve®
The Sapphire Reserve is a pretty good option for everyday earning. It earns three points per dollar spent on both travel and dining. Purchases that don’t fall into those categories earn one point per dollar spent. While 1 point per dollar seems low, keep in mind that they can be redeemed for 1.5 cents each toward a travel purchase directly with Chase. This means that the Sapphire Reserve effectively offers at least a 1.5 percent return.
Ultimate Rewards Rewards
- All Other Purchases
Complimentary Priority Pass Select membership with access to over 1,000 airport lounges around the world.
Primary Auto Rental CDW
Go ahead and decline the rental company’s collision insurance when you rent because your card has your covered.
Foreign Transaction Fee
There are no foreign transaction fees on purchases made abroad.
Get an $85 statement credit for TSA PreCheck or a $100 statement credit for Global Entry every four years.
Earn Elite Status Fast
The Chase Sapphire Reserve does not offer a way to earn elite status with any airline or hotel program.
Fees: the cost of Having Chase Sapphire Reserve®
The Chase Sapphire Reserve has a $450 annual fee. Without taking into consideration any bonus categories or other benefits (like the Global Entry fee credit and the travel credit), you would need to spend at least $25,000 per year to cover the annual fee. This $25,000 in spending would earn you 25,000 Ultimate Rewards points that are worth around 1.8 cents each (depending on how you redeem).
More realistically, yearly spending doesn’t need to be anywhere near this high because you receive $300 in travel credits annually, a $100 Global Entry fee credit every four years and you earn three points per dollar on your travel and dining purchases.
Considering that the current sign-up bonus is 50,000 Ultimate Rewards points, no matter how you look at it, you have more than covered the annual fee for the first year.
- Late Payment Fee
Up to $15 if the balance is less than $100; up to $27 if the balance is $100 to less than $250; up to $37 if the balance is $250 or more
- Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater
- Foreign Transaction Fee
- Annual Fee
See What It Takes to Cover an Annual Fee:
We strongly recommend to spend not less than $8,334 per months to cover the annual fee in three months.
Does the Card Pay for Itself?
We’ve broken out our estimates for the first- and second-year net earnings you’ll get with the Chase Sapphire Reserve℠. Is the card worth getting, and should you keep it after you get the sign-up bonus? Let’s find out.
These estimates are based on an annual monthly spend of $2,000
Rewards Earned First Year$1,182
Top 5 Benefits of the Chase Sapphire Reserve℠
The Sapphire Reserve has a lot of benefits to love, so it is pretty easy to justify the high annual fee if you plan to travel at least a little bit. Here are the top five benefits of the card:
- Annual Travel Credit: The first $300 you spend each year on travel will automatically be reimbursed. This includes hotels, flights, car rentals and more. It goes a long way toward offsetting the annual fee.
- Great Earning Potential: Earn 3 points per dollar for all of your travel and dining purchases. Earn 1 point per dollar for all other purchases.
- Super Flexible Points: Transfer your points to a number of airline and hotel transfer partners, or redeem them directly through Chase at a rate of 1.5 cents each.
- Access Lounges Worldwide: Get a free Priority Pass Select membership that will get you and a guest into over 1,000 airport lounges worldwide.
- Built in Travel Protections: Don’t worry when you travel because you have automatic trip delay and cancellation coverage, lost baggage insurance and more as long as you pay for at least part of your trip with your Chase Sapphire Reserve.
Should You Get the Chase Sapphire Reserve℠?
If you travel, even semi-frequently, the Chase Sapphire Reserve is probably a safe bet. While it seems scary to sign up for a card that has a $450 annual fee, you’ll get $300 back right away as soon as you start making travel purchases because of the card’s annual travel credit. This effectively reduces the annual fee to only $150, assuming that you spent at least $300 on travel each year.
Your travels will be more enjoyable and less worrisome too, with lounge access, a Global Entry fee credit and built in travel insurance that includes primary rental car coverage.
Better yet, the Sapphire Reserve is a good card for everyday spending. You’ll earn three Ultimate Rewards points per dollar for travel and dining purchases and one point per dollar on all other purchases. Ultimate Rewards can be redeemed directly through Chase Travel for 1.5 cents each, but they can be worth even more if you transfer to Chase’s hotel and airline partners.
Need more info? Check out our frequently asked questions. If you have other questions, please click on “Ask Now” below.
Yes. These are all separate credit cards, so you can get the Reserve if you currently have a different Sapphire credit card. You will still be eligible for the bonus on the Sapphire Reserve as well.
Yes, upgrading a different Chase card, like the Chase Freedom® or the Chase Sapphire Preferred® Card, to the Sapphire Reserve is possible. Keep in mind, however, that you will not receive the sign-up bonus when you upgrade. In order to receive the sign-up bonus, you will have to apply for the Sapphire Reserve as a new account with Chase.
If you have the Sapphire Reserve, you should get at least 1.5 cents per Ultimate Rewards point. This is the value of UR points when redeeming through Chase Travel. If you transfer to Chase’s partners, the value per point can vary quite a bit. You may earn significantly more than 1.5 cents each, but it is also possible to get less. So, you should always aim to get more than 1.5 cents per point when transferring – otherwise you might as well redeem through Chase.
The Chase Sapphire Reserve card does not charge foreign transaction fees.
The Sapphire Reserve requires a very good to excellent credit score for approvals. Most approved applicants indicate a score of 720 or higher. However, it is possible to be approved with a lower score, and to be denied even if your score is over 720. That’s because Chase will evaluate your entire application, not just your score, before approving or denying you for the card.
Centurion Lounges are part of the American Express’ program, so you will not be able to visit them with your Chase Sapphire Reserve.
Authorized users can be added to your Sapphire Reserve account for a cost of $75 per year.
Compare Chase Credit Cards
Other Chase Credit Cards
There are other cards from Chase that also earn Ultimate Rewards. A few that are worth comparing to the Sapphire Reserve are the Ink Business Preferred, Ink Plus Business and Sapphire Preferred.
|Chase Sapphire Preferred® Card||Ink Business Preferred℠ Credit Card|
|Sign-up bonus||60,000 points||50,000 points||80,000 points|
|APR On Purchases||18.24% to 25.24% Variable||19.24% - 26.24% Variable||18.24% to 23.24% Variable|
|Second Year Value||$432||$432||$432|
One easy thing to point out right away is that all three of these other cards have significantly lower annual fees compared to the Reserve. All of the cards above have a $95 annual fee except the Reserve, which costs $450 .
The Preferred card has many similar benefits as the Reserve, but doesn’t offer an annual travel credit, Global Entry fee credit or lounge access. Plus it only earns 0 Ultimate Rewards points per dollar spent on travel and dining purchases.
The Ink Plus earns 5 Ultimate Rewards points per dollar spent at office supply stores and pharmacies, while the Ink Business Preferred offers 3X points on travel purchases, shipping, internet, cable and phone services, but only on the first $150,000 in spending per year.
Compare Chase Sapphire Reserve℠ to Other Cards
The Sapphire Reserve is also worth comparing to a few credit cards offered by other banks, including the Platinum card from American Express, the Citi ThankYou Premier card and the Citi Prestige card.
Like the Reserve card, the Citi Prestige and Amex Platinum are premium offerings. The Citi Prestige also has a $495 annual fee, while the Platinum card has a $550 annual fee. Bonus spending categories are slightly different between these three cards, but one of the biggest differences is in the travel protections offered. The Amex Platinum offers very few built in travel protections, but the protections offered by Citi Prestige are even better than the Reserve card’s (which are still quite good).
The Citi ThankYou Premier card isn’t a premium credit card, but is still a solid option, especially if you are looking to save on an annual fee. It only charges $95 . However, you’ll lose lounge access, travel fee credits and Global Entry fee credits, all of which can easily help justify a higher annual fee.
Card Terms and Conditions
While it's easy to focus on the rewards offered by the Chase Sapphire Reserve℠, it's worth taking a closer look at the terms and conditions. There's a lot to consider as you think about how you're going to use the card. Will you carry a balance, get a cash advance or maybe make a big purchase? Below is a rundown of the various interest rates, purchase protections, security features and mobile banking options that come with the Visa card.
- Intro APR:
- Intro APR for balance transfers:
- Ongoing APR:
- 19.24% - 26.24% Variable
- Minimum Grace Period:
- 21 days
- Extended Warranty Protection:
- Extends the time period of the U.S. manufacturer's warranty by an additional year.
- Purchase Protection:
- Covers your new purchases for 120 days against damage or theft for up to $10,000 per claim and $50,000 per year.
- Purchase Protection:
- If a purchase you made in the U.S. is advertised for less in print or online within 90 days, you can be reimbursed the difference of up to $500 per item and $2,500 per year.
- Return Protection:
- You can be reimbursed for eligible items that the store won't take back within 90 days of purchase. Good for up to $500 per item and $1,000 per year.
Cash Advance Features
- Ongoing APR:
- 27.24% Variable ±
- Cash Advance Fee:
- Either $10 or 5% of the amount of each transaction, whichever is greater
Security and Protections
Chase offers great security features, including account alerts, a mobile app and Chip + Signature technology. Additionally, you’ll never be liable for purchases you didn’t make.
- Mobile Banking:
- Use Chase’s app to keep an eye on card activity while you’re on the go.
- You can set up alerts to be notified about large transactions.
- Chip + Signature Technology:
- Global acceptance and enhanced security when merchants use chip enabled terminals.
Chase offers a mobile app so you can check your credit card spending, make payments and keep an eye on account activity. Your Reserve card will also work with Apple Pay, Android Pay and Samsung Pay.
Additional Cardholder Benefits
The Chase Sapphire Reserve offers some great travel benefits, which can save you from having to purchase an additional policy every time you travel.
Visa Signature Travel Benefits
- Auto Rental Collision Damage Waiver:
- Coverage for theft and collision for most rentals in the U.S. and abroad. This is primary to your personal insurance, which is better than the secondary coverage offered by most card issuers.
- Baggage Delay Insurance:
- Get reimbursement for essentials, such as toiletries and clothing, if your bags are delayed over 6 hours. Good for up to $100 a day, for up to five days.
- Lost Luggage Reimbursement:
- Get up to $3,000 per passenger for damaged or lost bags. Coverage includes the cardholder and immediate family members on the same travel itinerary.
- Trip Delay Reimbursement:
- If your travel is delayed by more than six hours or requires an overnight stay, you and your family are covered for unreimbursed expenses for up to $500 per ticket.
- Roadside Dispatch:
- If you have a roadside emergency in the U.S or Canada, you can call and get a tow, tire, locksmith, gas or jump. You are covered up to $50 per incident and up to four times per year.
- Travel Accident Insurance:
- Receive accidental death or dismemberment coverage of up to $1,000,000 for any air, bus, train or cruise ship transportation paid for with your card.
- Travel and Emergency Assistance Services:
- Legal and medical referrals, and other travel and emergency assistance is available any time of day. Service charges apply.
Editorial Disclosure: Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
UGC Disclosure: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.