Chase Sapphire Reserve® Review

Overview

The Chase Sapphire Reserve® is a flexible travel rewards card from Chase, running on the Visa network. The Chase Sapphire Reserve® earns up to 4x on travel and dining, so it pays you the most exactly where you already spend. It carries a $795 annual fee, so the real question is whether its rewards, credits, and perks clear that bar for the way you spend. New cardholders can earn 150,000 Ultimate Rewards® Points after $6,000 in 3 months.

It sits at the premium end of the market, trading a steep annual fee for lounge access, statement credits, and travel protections. That makes the decision less about the rewards rate and more about whether you will use the perks enough to come out ahead.

Our 5.0 out of 5 rating

Each score weighs the rewards rate, value after the annual fee, welcome offer, points flexibility, and perks, with every point valued at a flat 1 cent. This is our editorial assessment to help you compare cards, not a guarantee of approval or of the value you will get.

Rewards: how it earns

Where the Chase Sapphire Reserve® earns its rewards is its bonus categories: 4x on travel (about $72 a year on the $1,800 a typical household spends there) and 3x on dining (about $90 a year on the $3,000 a typical household spends there). Across a full year of average household spending, the card returns roughly $406 in rewards before any welcome bonus, so the more your spending overlaps those categories, the better it does.

Every point and mile above is valued at a flat 1 cent, the same honest standard we use for every card. Run your own spending through the calculator to see what this card would actually return for you.

Pros and cons

The welcome bonus

The current welcome offer is 150,000 Ultimate Rewards® Points, earned after you spend $6,000 in 3 months. Valued honestly at a flat 1 cent per point, that is worth about $1,500. The spending requirement works out to roughly $2,000 per month, so make sure it fits your normal budget rather than pushing you to overspend. Stacking the welcome offer on top of a typical year of rewards and accounting for the $795 annual fee, the first year is worth roughly $1,111.

Is the annual fee worth it?

To come out ahead on the Chase Sapphire Reserve® you need to clear its $795 annual fee. On typical spending it earns about $406 a year in rewards, and it carries up to $2,108 in statement credits. For anyone who spends in its categories, the fee is easy to justify.

Benefits and protections

Beyond the rewards, the perks and protections worth knowing about include:

• $300 annual travel credit (auto-applied to travel purchases)
• Points Boost: redeem points for up to 2x value on select Chase Travel bookings
• Priority Pass Select access plus Chase Sapphire Lounges (you and 2 guests)
• Global Entry, TSA PreCheck, or NEXUS application fee credit
• 1:1 point transfer to 14 airline and hotel partners
• Primary rental car coverage and trip cancellation/interruption insurance
• No foreign transaction fees

Statement credits

• $300 annual travel credit (auto-applied)
• $300 dining credit via Sapphire Reserve Exclusive Tables ($150 semi-annually)
• $500 The Edit luxury hotel credit ($250 semi-annually)
• $300 StubHub and viagogo event ticket credit ($150 semi-annually)
• Up to $300 in DoorDash credits annually ($25 per month)
• Up to $120 Global Entry, TSA PreCheck, or NEXUS credit (every 4 years)
• Up to $288 Apple TV+ and Apple Music credit

Ecosystem and transfer partners

The Chase Sapphire Reserve® earns Ultimate Rewards, one of the more valuable currencies in rewards because of where the points can go. You can move points 1 to 1 to 8 airline and hotel partners: United Airlines, World of Hyatt, Southwest Airlines, British Airways, Air France/KLM, Singapore Airlines, Air Canada, and Virgin Atlantic. As a hub card, this is the one you route points through before transferring out. The sweet spots are usually premium-cabin flights and high-end hotel nights, where a single point can be worth well more than the 1 cent we value it at here.

Who should get it, and who should skip it

It is best for frequent travelers who will actually use the lounge access and annual credits. If you will not, a cheaper card leaves you further ahead.

Skip it if you will not use the lounge access and annual credits, or if you would rather not float a high fee and chase reimbursements every year.

How it compares

If the Chase Sapphire Reserve® is not quite the right fit, these related cards are worth weighing against it:

Frequently asked questions