Chase Sapphire Reserve® Review

Overview

The Chase Sapphire Reserve is Chase’s premium travel card, and after its jump to a $795 fee it is now firmly in the same conversation as the Amex Platinum: a big fee wrapped around lounge access, credits, and a large welcome bonus. The saving grace is that it earns Ultimate Rewards, which are more flexible than most premium cards’ points.

Like any card at this price, it only makes sense if you travel enough to use the perks. Get it for the welcome bonus and the year-one value, then take an honest look at whether the fee is worth it after that.

Our 4.0 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

You get elevated rates on travel and dining booked through Chase, and strong points on direct travel and dining, all in transferable Ultimate Rewards. Outside of travel and dining it is not a big everyday earner, so this is a travel card first and foremost. The points flexibility is what makes it more compelling than a co-brand premium card.

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 welcome bonus is strong, 100,000 points after $6,000 in three months, worth well over $1,000, and more through transfers. That bonus is the main reason to grab the card, and it easily covers the fee in year one.

Is it worth the annual fee?

The $795 fee is the whole question. It comes loaded with credits and lounge access, but like the Amex Platinum, a lot of that value is only real if you actually use it. If you travel enough to lean on the lounges and burn the travel credits, it can pencil out. If not, this is a year-one bonus play that I would cancel or downgrade to the Sapphire Preferred afterward.

First-year value vs ongoing value

The welcome bonus makes year one the high point: roughly $2,719 in value once you count the bonus, this card’s rewards, and its credits, minus the $795 fee. After that, the honest figure is about $1,719 a year, so judge whether it earns its keep on the ongoing number, not the first-year headline.

*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent, on average spending.

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
• 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

Lounge access

This card includes airport lounge access. Here is exactly what you get, including the Priority Pass distinctions that vary by card:

• Priority Pass Select: unlimited visits to 1,300+ airport lounges worldwide (lounge access only; Priority Pass restaurants ended July 1, 2024)
• Unlimited access to Chase Sapphire Lounge by The Club locations
• Up to 2 guests free, then $27 per guest, per visit

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.

Airline partners: United Airlines, Southwest Airlines, British Airways, Air France/KLM, Singapore Airlines, Air Canada, Virgin Atlantic.

Hotel partners: World of Hyatt.

See the full Chase ecosystem →

Who should get it, and who should skip it

If you are a heavy traveler who will use Chase’s lounges and credits, and you want transferable points, the Reserve delivers, especially in year one with that welcome bonus. The Ultimate Rewards flexibility gives it an edge over a lot of premium cards.

For everyone else, I would grab the bonus and then drop down to the Sapphire Preferred, which gives you the same points ecosystem for a fraction of the fee. Do not pay $795 a year for perks you will not use.

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

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