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Chase Sapphire Reserve℠

Caroline Lupini
Updated on: 07/04/2017
RE®: 92
Our Rating
Chase Sapphire Reserve℠
How to Apply

To apply for this offer please contact
Chase Bank

For excellent/good credit
"The real value of having the card in your portfolio is to pair it with the Chase Sapphire Preferred."

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.

Bonuses and 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.

Bonuses

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 50,000 points after you spend $4,000 on purchases in the first 3 months
  • Annual $300 credit for any travel purchases, including airfare
  • 50% bonus for redemptions made through the Chase travel portal

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.

Sign-up Bonus
Flight Type
Average CPM
RE® VALUE
50,000
points
Economy · Domestic1.8cpm$900
Business · Domestic1.73cpm$865
Economy · International1.8cpm$900
Business · International4.39cpm$2,195

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:

÷
×100=
The final result:
???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.

The Best Way to Redeem Rewards for Travel in

Roundtrip Domestic

  • Atlanta
    Fort Lauderdale

    AtlantaFort Lauderdale

    Economy class
    Miles price
    9,849points
    +$0 fee
    Dollars price
    $147
  • Washington
    Los Angeles

    WashingtonLos Angeles

    Economy class
    Miles price
    20,000points
    +$26 fee
    Dollars price
    $337
  • Washington
    Honolulu

    WashingtonHonolulu

    Economy class
    Miles price
    25,000points
    +$20 fee
    Dollars price
    $994

Roundtrip International

  • Miami
    Lima

    MiamiLima

    Economy class
    Miles price
    25,000points
    +$68 fee
    Dollars price
    $527
  • San Francisco
    Seoul

    San FranciscoSeoul

    Economy class
    Miles price
    70,000points
    +$359 fee
    Dollars price
    $1,211
  • Las Vegas
    San Jose

    Las VegasSan Jose

    Economy class
    Miles price
    23,182points
    +$0 fee
    Dollars price
    $346

Roundtrip Domestic

  • Los Angeles
    Honolulu

    Los AngelesHonolulu

    Business class
    Miles price
    45,000points
    +$10 fee
    Dollars price
    $854
  • Miami
    Houston

    MiamiHouston

    Business class
    Miles price
    30,000points
    +$13 fee
    Dollars price
    $551
  • Pittsburgh
    Washington

    PittsburghWashington

    Business class
    Miles price
    27,537points
    +$0 fee
    Dollars price
    $411

Roundtrip International

  • Washington
    Paris

    WashingtonParis

    Business class
    Miles price
    80,000points
    +$646 fee
    Dollars price
    $3,214
  • New York
    Moscow

    New YorkMoscow

    Business class
    Miles price
    140,000points
    +$136 fee
    Dollars price
    $2,982
  • New York
    Punta Cana

    New YorkPunta Cana

    Business class
    Miles price
    30,000points
    +$47 fee
    Dollars price
    $886

Other ways you can redeem points

Hotel Stays

4 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.

Airlines

Chase has some great airline transfer partners, including United, Air France KLM, Singapore Airlines, British Airways and more!

Car Rental

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 Cards

3 partners3 part.

Ultimate Rewards points can be redeemed for a number of different gift cards, including Amazon, Starbucks and Marriott.

Cash Back

3 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

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.

Your Monthly Charges
Rewards You Will Earn Annually
24,000points$432in dollar value
Travel
3points/$1
Hotel
3points/$1
Car Rental
1points/$1
Airfare
3points/$1
Dining
3points/$1
All Other Purchases
1points/$1

Travel Benefits

Lounge Access

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.

TSA PreCheck

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 the Card

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:
0%
Annual Fee:
$450

See What It Takes to Cover an Annual Fee:

Your Average Monthly Spend
Months to Cover Annual Fee
13 months

Recommendations

We strongly recommend to spend not less than $8,334 per months to cover the annual fee in three months.

{:first=>"Let’s see what your first-year earnings and savings will be. Then calculate the second-year savings to see if you can keep the earning power and it will be worth keeping the card a er signup bonus is no longer available. This simple calculation can show if the card is worth your attention or you can skip this offer and find another one.", :second_html=>"These estimates are based on an annual monthly spend of <b>$2,000</b>"}

These estimates are based on an annual monthly spend of $2,000

First Year

Signup Bonus
$900
Anniversary Bonus
Everyday Rewards
$432
Statement Credit
$300
Free Bags
Earnings
$1,632
Foreign Transaction Fees
-$0
APRS Charges
-$0
Annual Fee
-$450
Charges
-$450
Rewards Earned First Year
$1,182

Second Year

Signup Bonus
Anniversary Bonus
Everyday Rewards
$432
Statement Credit
$300
Free Bags
Earnings
$732
Foreign Transaction Fees
-$0
APRS Charges
-$0
Annual Fee
-$450
Charges
-$450
Rewards Earned Second Year
$282

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:

  1. 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.
  2. 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.
  3. 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.
  4. Access Lounges Worldwide: Get a free Priority Pass Select membership that will get you and a guest into over 1,000 airport lounges worldwide.
  5. 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.

FAQs

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, 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.

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Chase Sapphire Reserve℠
For Excellent/Good Credit
Check which Chase card is the right fit for you
How to Apply for this card

To apply for this offer please contact
Chase Bank

Other Chase Ultimate Rewards 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® CardChase Sapphire Preferred® CardPlatinum Card® from American ExpressPlatinum Card® from American Express
Sign-up bonus
50,000 points50,000 points60,000 points60,000 points
Annual Fee
$0 Intro fee for the first year. After that, $95$450$550
APR On Purchases
16.99% to 23.99% Variable±16.99% to 23.99% Variable±
Foreign Fee
0%0%0%
Bonus Value
$900$900$0$1,086
Second Year Value
$432$432$0$434

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 2 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.

50,000points offer
Chase Sapphire Reserve℠

Check if Chase Sapphire Reserve℠ is the best option for you

Like the Reserve card, the Citi Prestige and Amex Platinum are premium offerings. The Citi Prestige also has a $450 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 Overview

Card Details

Excellent credit score
Issuer
JPMorgan Chase & Co.JPMorgan Chase & Co.
Use miles
Yes
Pay with points
Yes

Flight Features

Available airline
Any
Loyalty Program
Ultimate Rewards®
Flights Type
Domestic and International
Alliance
Star Alliance, SkyTeam, OneWorld

Travel Partners

Airlines
Yes
Hotels
Yes
Car Rental
No
Cruise
No

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.

Purchases

Intro APR:
See Terms and Conditions
Intro APR for balance transfers:
See Terms and Conditions
Ongoing APR:
16.99% to 23.99% 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:
25.99% 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.
Alerts:
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.

Mobile Banking

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.