Chase Sapphire Reserve review: The ultimate travel companion for luxury seekers

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If you love luxury travel benefits, the Chase Sapphire Reserve® easily makes the shortlist of the best cards to consider. The card has quickly become a favorite among travel enthusiasts and rewards seekers.

The Chase Sapphire Reserve offers a suite of benefits that offer long-term value for those who prioritize spending on travel and dining. The card also comes with entry into one of the most versatile travel loyalty rewards programs: Chase Ultimate Rewards. 

The card is geared toward avid travelers who enjoy luxury benefits and are willing to pay for it. Let's take a closer look at this premium travel rewards card. 

How the Chase Sapphire Reserve card works 

The Chase Sapphire Reserve is one of the premier Chase cards, with several notable benefits and features. 

This card earns a whopping 10X points on hotels, car rentals, and Chase Dining purchases and 5X points on air travel booked through Chase Travel. It also earns 3X points on travel and dining purchases and offers a $300 annual travel credit. You can redeem points for travel through the Chase Ultimate Rewards portal at a 50% bonus or transfer them to various airline and hotel partners.

Chase Sapphire Reserve rewards 

Earning rewards 

The Chase Sapphire Reserve earns bonus rates on select travel-related and dining spending. With the Chase Sapphire Reserve, you'll earn:

• 10X points on hotels and car rentals booked through Chase Travel℠ (after earning your $300 travel credit)
• 10X points on Chase Dining purchases booked through Chase Travel℠ 
• 10X points on Lyft purchases (through March 2025)
• 5X points on flights booked through Chase Travel℠ (after earning your $300 travel credit)
• 3X points on dining at restaurants, including eligible delivery services, takeout, and dining out
• 3X points on other general travel worldwide (after earning your $300 travel credit)
• 1X points on all other purchases

This earning rate is among the highest for travel and dining purchases, surpassing many other premium travel cards.

Redeeming rewards 

The Chase Sapphire Reserve offers numerous ways to redeem your points. Point values vary depending on the redemption chosen. 

Using points to book travel 

You can use points to book hotels, flights, rental cars, cruises, tours, and other travel-related activities through Chase. Plus, you book through Chase Travel without blackout dates or travel restrictions. 

Alternatively, you can transfer points at a 1:1 ratio to Chase's airline and hotel partners. This flexibility allows cardholders to get even higher value for their points by taking advantage of lucrative award bookings or promotions. Current Chase travel partners include: 

• Aer Lingus
• Air Canada
• British Airways
• Emirates
• Air France KLM
• Iberia
• JetBlue
• Singapore Airlines
• Southwest
• United Airlines
• Virgin Atlantic
• Hyatt
• IHG Hotels & Resorts
• Marriott Bonvoy

Rewards value 

Points are worth approximately 1 cent each or 1.5 cents each when redeemed for travel through Chase. In some cases, point values may be even higher when transferred to select transfer partners.

You’ll get a 50% bonus when booking through Chase — higher than the Sapphire Preferred card (which has a 25% boost). This means a 50,000-point sign-up bonus could be worth $750 in travel when redeemed through the portal.

The Chase Sapphire Reserve offers excellent redemption value compared to other travel cards. Comparable cards like the Platinum Card® from American Express or the Capital One Venture X Rewards Credit Card have more travel partners but lower redemption rates (1 cent per point and 1 cent per mile, respectively). 

Other redemption options 

Travel isn't the only redemption option available with Chase Ultimate Rewards. You can also redeem points for gift cards, statement credits, cash back, Pay with Points at checkout with Amazon.com and PayPal, Chase Dining, Shop Apple products, or book other unique and exclusive experiences.

Chase Sapphire Reserve benefits

Sign-up bonus 

As you might expect, the Chase Sapphire Reserve features a sizable sign-up bonus. You can earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.

This bonus is comparable to other premium credit cards but may be worth even more, depending on how you redeem your rewards. For example, the 50% redemption bonus can make 60,000 points worth $900 when redeemed for travel through the Chase Travel portal. 

Travel benefits 

The Chase Sapphire Reserve offers a full suite of travel benefits in line with other top travel rewards cards. It starts with a $300 annual travel credit, automatically applied to various travel purchases, including airfare, hotels, car rentals, and more.

This credit effectively lowers the card's annual fee to $250, provided you spend at least $300 on travel purchases yearly. 

Another key travel perk is the Priority Pass Select membership, which offers complimentary access to over 1,300 airport lounges worldwide and up to two guests. You’ll also have access to the Chase Sapphire Lounge by The Club. Five lounges and one “terrace” are currently open, with many more lounges coming soon. 

Cardholders are eligible for a statement credit of up to $100 every four years to cover application fees for Global Entry, TSA PreCheck, or NEXUS. 

Chase Sapphire Reserve features one of the most comprehensive travel insurance packages. This includes: 

• Auto rental collision damage waiver
• Trip cancellation/interruption insurance
• Trip delay reimbursement
• Travel accident insurance
• Travel and emergency assistance services
• Lost luggage reimbursement
• Baggage delay insurance
• Emergency evacuation and transportation
• Roadside assistance
• Emergency medical and dental benefit

Additional perks 

The Chase Sapphire Reserve also comes with several consumer perks and protections. 

• Lyft Pink membership: Cardholders receive a complimentary Lyft Pink All Access membership for two consecutive years (activation required, terms apply). Some perks include free priority pickup upgrades, exclusive member pricing, discounts on Black and Black SUV rides, bike, e-bike, scooter benefits, and free Grubhub+ each year.
• DoorDash Dashpass membership: Cardholders receive a Dashpass membership for at least 12 months (activation required, terms apply). DassPass membership includes no delivery fee on select orders, exclusive offers, and other perks. Members also receive $5 monthly DoorDash or Caviar credits (through 12/31/2027).
• Instacart+ membership: You'll also receive a complimentary Instacart+ membership (activation required, terms apply). Instacart+ membership includes unlimited free deliveries, credits on eligible pickup orders, lower service fees, and a Peacock membership. Cardholders can earn up to $15 in statement credits each calendar month on qualifying Instacart purchases. 
• Peloton benefits: If you're considering purchasing Peloton equipment soon, you could earn additional bonus points. The Reserve earns 10X points on up to $5,000 on Peloton equipment and accessory purchases over $150 through Peloton (through March 31, 2024).

The Chase Sapphire Reserve also features valuable consumer protections on purchases made with the card, including purchase protection, return protection, and extended warranty protection. 

Chase Sapphire Reserve fees & charges

Despite the Chase Sapphire Reserve's potential value, the card has some notable downsides.

Annual fee

The Chase Sapphire Reserve has a $550 annual fee, which is on par with other premium travel cards like the Amex Platinum Card ($695. See rates and fees) and the Citi Prestige Card ($495). The card only makes sense for those who plan to take advantage of enough of the card's benefits to offset the hefty price tag.

Interest rates

The Chase Sapphire Reserve has a high variable APR, depending on your creditworthiness. This APR can be higher than the average credit card interest rate.

Cardholders should pay their balance in full each month to avoid interest charges. Most Chase cards have a grace period of at least 21 days from the close of each billing cycle. During this time, no interest is charged on purchases if the balance is paid in full by the due date.

Other fees

The Chase Sapphire Reserve does not charge foreign transaction fees, making it a great choice for international travel. However, there are other potential fees to be aware of:

• Cash advance fee: Either $10 or 5% of the amount of each transaction, whichever is greater.
• Late payment fee: Up to $40.
• Return payment fee: Up to $40.

To minimize fees, cardholders should pay their bills on time and ensure they have enough money in their account to cover payments.

Is the Chase Sapphire Reserve worth it? 

The Chase Sapphire Reserve is one of the best travel rewards credit cards, and for good reason. The combination of premium travel benefits and rewards potential is great for jet-setters who enjoy luxury perks. If that describes you, the Chase Sapphire Reserve could be a great fit.

To determine if it's the right card for you, compare its $550 annual fee to the benefits and rewards included. The card comes with an impressive list of features and perks. Consider how many of those benefits you most likely would use throughout the year. 

The card earns impressive bonus rates in specific categories but has a low base rate. Assess your spending habits to see if they align with the card's rewards structure. 

Determine your goals for having a travel card, how much you plan to travel, and your current lifestyle. Understanding your goals can help you choose the best travel credit card, whether the Chase Sapphire Reserve or another card. 

Keep in mind that to qualify for the Chase Sapphire Reserve, applicants typically must have an excellent credit score (740+). They also must meet Chase's 5/24 rule, which means having opened fewer than five new card accounts across all issuers in the past 24 months.

Who should consider the Chase Sapphire Reserve?

The Chase Sapphire Reserve is an excellent choice for frequent travelers who can maximize the card's benefits and rewards:

• Those who spend a significant amount on travel and dining
• Travelers who value premium perks like airport lounge access and comprehensive travel protections
• Individuals who can take advantage of the $300 annual travel credit and other benefits to offset the annual fee
• Those who prefer flexible redemption options and the ability to transfer points to airline and hotel partners

On the other hand, the Chase Sapphire Reserve may not be the best fit for:

• Infrequent travelers who won't be able to maximize the card's benefits and rewards
• Those who cannot afford the $550 annual fee or who are not comfortable with high annual fees in general
• Individuals who primarily spend in categories other than travel and dining
• Those who are looking for a card with a 0% APR promotion on purchases or balance transfers

How the Chase Sapphire Reserve Card compares

The Chase Sapphire Reserve is a worthy choice for many avid travelers but may not be the best for everyone. Here are some other credit cards to consider. 

Chase Sapphire Reserve vs. The Platinum Card® from American Express 

The Platinum Card® from American Express has long been one of the best cards for luxury travel benefits. Its annual fee is $695, higher even than that of the Chase Sapphire Reserve. See rates and fees. 

Amex Platinum isn't necessarily the best card for earning rewards. The card offers lower bonus rates and fewer bonus spending categories. Cardholders only earn 5X points on directly booked airfare, flights, and prepaid hotels through American Express Travel® — up to $500,000 on these purchases per calendar year. You’ll also earn 2X points on prepaid car rentals through American Express Travel. Other purchases only net 1X points per dollar spent. 

The Amex Platinum card does offer more comprehensive airport lounge access than the Reserve card. You’ll get access to the American Express Global Lounge Collection®, which includes Priority Pass Select, Centurion Lounges, Escape Lounges, Delta Sky Clubs, Lufthansa Lounges, and Plaza Premium Lounges. 

But what really separates the Chase Sapphire Reserve and the Amex Platinum card is the annual credits. Amex Platinum is loaded with annual credits, some more feasible than others. Taking advantage of the credits can more than offset the annual fee; it also requires additional work. You’ll have to track your monthly spending with certain benefits and sign up or activate some programs or services to access credits. 

If you like luxury perks and are willing to work to earn credits, the Amex Platinum card could be a better fit.

Chase Sapphire Reserve vs. Capital One Venture X Rewards Credit Card

The Capital One Venture X Rewards Credit Card is the card issuer's top-tier premium travel rewards card. At $395, its annual fee is a bargain compared to the Chase Sapphire Reserve. 

Capital One Venture X Rewards has a more streamlined rewards structure than the Chase Sapphire Reserve. Cardholders earn 10X miles on hotels and rental cars and 5X on flights booked through Capital One Travel. The Venture X also offers a higher base rate of 2X miles on all other purchases. 

You won't find quite the array of travel benefits as the Chase Sapphire Reserve, but the Venture X card has enough perks to justify the fee. This includes a $300 annual travel credit, up to $120 TSA PreCheck or Global Entry application fee credit every four years, and several travel and consumer protections. Cardholders also receive Priority Pass Select membership and access to Capital One Lounges. 

How we rated this card 

Every credit card review we publish has undergone a rigorous editorial process to ensure accuracy and objectivity.

We rate all credit cards on a 10-point system, with 10 being the highest possible score and 1 being the lowest possible score. We assess each card across several key factors, weighted based on what our research shows matters most to readers like you. Learn more about our methodology here. 

Here are some of the factors that influenced this card’s overall score: 

• Rewards: The Chase Sapphire Reserve card excels in its rewards structure, offering exceptional earning rates across multiple travel and dining categories. The 50% bonus value when redeeming points through Chase Travel enhances the card's appeal to frequent travelers.
• Redemption flexibility: The card's redemption options are diverse and flexible, allowing cardholders to use their points for various travel bookings, gift cards, cash back, and more. The ability to transfer points to airline and hotel partners at a 1:1 ratio adds big value for those who can maximize these redemptions.
• Added benefits: The Chase Sapphire Reserve offers a robust selection of travel benefits, including a generous annual travel credit, airport lounge access, and comprehensive travel insurance. It also has added consumer perks like Lyft Pink, DoorDash DashPass, and Instacart+ memberships.
• Annual fee: The main drawback of the Chase Sapphire Reserve is its high annual fee of $550. However, the $300 annual travel credit (which is easy to use) effectively reduces the card’s annual fee to $250. 
• Welcome bonus: The welcome bonus is substantial, providing significant value when redeemed for travel through Chase. The spending requirement, while high, is attainable for the card's target audience of travelers.

The bottom line

The Chase Sapphire Reserve is a top-tier travel card offering numerous benefits and perks for frequent travelers. With a high reward rate for travel and dining purchases, a valuable sign-up bonus, and premium travel perks, this card can provide significant value.

However, the card's steep $550 annual fee may be a deterrent for some, particularly those who don't travel frequently enough to justify the cost. Evaluating your spending habits and travel preferences is essential to determine if the Chase Sapphire Reserve is the right fit for you.

Editorial disclosure: Opinions expressed are author's alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.