Rewards Plan
Welcome Bonus
Credit Rating
Intro APR
Annual Fee
APR
- Welcome Bonus
- High Rewards Rate
- Annual Fee
- Low Merchandise Rewards
Rewards Plan
Welcome Bonus
Intro APR
PROS
- Welcome Bonus
- High Rewards Rate
CONS
- Annual Fee
- Low Merchandise Rewards
APR
22.24%–29.24% variable APR
Annual Fee
$550
Balance Transfer Fee
$5 or 5%
Credit Requirements
Excellent
The Chase Sapphire Reserve® card is a travel rewards card issued by Chase Bank. This is a premium travel card that offers many benefits that your average reward card does not.
You'll receive 50,000 points after spending $4,000 in the first 3 months of opening the card, which is about $750 in travel rewards if booked through Chase Ultimate Rewards. In addition, you earn 5X total points on air travel and 10X total points on hotels, car rentals when you purchase through Chase Ultimate Rewards®, immediately after earning your $300 annual travel credit. Also, earn 3x points on dining at restaurants and travel (after meeting the $300 travel credit), then 1x points per dollar spent on all other purchases
On the other hand, the main drawback is the highly annual fee which is $550.
The Chase Sapphire Reserve cardis easy to use and understand unlike many competitors in the high-end luxury card market and built for those road warriors who spend much of the year traveling.
- Annual Travel Bonus
- No Blackout Dates
- Airport Lounge Access
- TSA Precheck or Global Entry Reimbursement
- My Chase Plan
- High Rewards Rate
- 50% More Ultimate Chase Rewards
- No Foreign Transaction Fee
- Luxury Hotel & Resort Collection
- Multiple Protections
- Annual Fee
- Chase Restrictions
- No Introductory 0% APR
- Balance Transfer Fee
- Low Merchandise Rewards
How hard is it to get a Sapphire Reserve card?
It is harder to get this card than some of the other Chase credit cards. However, if you have a credit score of at least 720 then you will be in with a good chance of getting approval.
What purchases don't earn cash back?
All purchases will earn you cashback with this card. This means that it can be nice and predictable when you are using it for everyday purchases.
What are the top reasons NOT to get it?
You do not travel a lot or you don’t want to pay the large annual fee. Those people who travel a lot can earn some stunning rewards from these types of cards.
In This Review..
Benefits
Let’s take a look at the benefits of the Chase Sapphire Reserve card and see if it’s the right one for your wallet or not.
- Annual Travel Bonus
You can earn in annual travel credit for any travel costs used with the Chase Sapphire Reserve card. This annual reward can help offset the annual fee. The $300 bonus is easy to get, all you have to do is spend $300 on travel.
This can include airlines, hotels, Airbnbs, motels, timeshares, campgrounds, car rentals, cruises, buses, trains, Uber and Lyft rides, and parking costs.
- No Blackout Dates
There are no dates when the points cannot be redeemed. They can be redeemed at any time of the year. There is also no expiration or use limits.
- Airport Lounge Access
You can have access to exclusive airport lounges with the Priority Pass Select membership that comes along with being a Chase Sapphire Reserve card holder. This membership is a $399 annual value.
- TSA Precheck or Global Entry Reimbursement
The Chase Sapphire Reserve card will reimburse your application fee for TSA Precheck or Global Entry once every four years. This cost is usually around $85 to $100.
- My Chase Plan
Break up Chase card purchases into budget-friendly payments with no interest. However, you'll pay a fixed monthly fee.
- High Rewards Rate
Earn 5X total points on air travel and 10X total points on hotels, car rentals when you purchase through Chase Ultimate Rewards®, immediately after earning your $300 annual travel credit. Also, earn 3x points on dining at restaurants and travel (after meeting the $300 travel credit), then 1x points per dollar spent on all other purchases
- 50% More Ultimate Chase Rewards
Your points go further when you book through Ultimate Chase Rewards. These rewards include all things travel-related, such as flights, hotels, cruises, and car rentals.
- No Foreign Transaction Fee
Chase Sapphire Reserve has no transaction fee while traveling in other countries. Many other cards have fees when you make purchases outside of the United States.
- Luxury Hotel & Resort Collection
Cardholders Take advantage of exclusive benefits at a variety of hand-picked top hotels and resorts around the world, such as complimentary room upgrades, early check-in and late check-out.
- Multiple Protections
Chase Sapphire Reserve card has zero liability, purchase protection, chip-enabled security, and an auto rental collision damage waiver. It also has travel insurance that covers canceled flights and baggage delay insurance for lost luggage reimbursement.
This card also has roadside assistance, emergency transportation, and emergency medical coverage. These features help give you peace of mind while traveling at home and abroad.
Drawbacks
Here are the most important cons you should consider before applying:
- Annual Fee
Chase Sapphire Reserve has a high $550 annual fee. Many other credit cards do not have annual fees. This fee can be offset with the annual travel reward bonuses. There is a annual fee for each authorized user.
- Chase Restrictions
Chase Bank has a well-known rule that does not allow customers to sign up for multiple cards and receive multiple sign-up bonuses within a 24-month period.
That means some who want to apply for the large sign-up bonus may not be eligible if they have received another Chase card with a sign-up bonus previously.
- No Introductory 0% APR
This card does not offer an introductory rate like many other credit cards do.
- Balance Transfer Fee
Along with not offering an introductory APR, Chase Sapphire Reserve has a large balance transfer fee of $5 or 5%.
- Low Merchandise Rewards
If you are looking to use some of your reward points on merchandise, be aware that the conversion of points to reward for merchandise is low. The rewards should be used on travel.
Rewards Simulation: How Much You Can Earn?
The best way to see if the Chase Reserve Card is the right choice for your needs, is to calculate the amount of rewards and benefits you suppose to earn.
Keep in mind that this is a general breakdown of expenses, so make sure to adjust it to your own consumer preferences and spending habits.
| |
|---|---|
Spend Per Category | Chase Sapphire Reserve |
$15,000 – U.S Supermarkets | 15,000 points |
$5,000 – Restaurants | 15,000 points |
$4,000 – Hotels | 40,000 points |
$3,000 – Airline
| 15,000 points |
$4,000 – Gas | 4,000 points |
Total Points | 89,000 points |
Estimated Redemption Value | 1 point ~ 1 – 1.5 cents |
Estimated Annual Value | $890 – $1,335 |
What Can I Do With Chase Points?
Chase offers the Ultimate Rewards program, through which you can redeem your card rewards. Each point has a monetary value of up to $0.015. You can use your points to get:
- Travel benefits. You can use the Chase Ultimate Rewards platform to get low prices on travel products such as hotel stays and flights.
- Gift cards: Chase offers a wide range of gift card options, including those for dining, entertainment, and shopping.
- Statement credit or direct deposit: There is no minimum for redeeming your rewards in this manner, and direct deposits are accepted by the majority of US checking and savings accounts.
Simply log into your credit card portal or card app and select the appropriate option to claim your rewards. There will be instructions to follow in order to finish the process.
Make the Most of Your Reserve Card
The Reserve card is not a cheap card, but it offers a bunch of premium benefits for cardholders. Therefore, make sure you do your best to make the most of it:
- Insurance Benefits: There is no need to obtain separate travel insurance because this card already provides that coverage. One of the best credit cards for rental car insurance is the Chase Sapphire Reserve.
- Use your card to pay for your flights and travel tickets: If you pay for your tickets with your card, you can get lost luggage and delay reimbursement. You can also get statement credit for travel purchases, which can provide travel reassurance while also adding up to decent rewards.
- Understand all of the card's features – as a luxury card, the Reserve card provides some unique and premium benefits that are not available on other cards. Make sure you are aware of them and can use them at the appropriate time based on your requirements.
How To Apply For Chase Sapphire Reserve Credit Card?
- 1.
Visit the Chase Sapphire Reserve home page, and click on “Apply as a guest”.
- 2.
This takes you to a page where you can fill in your personal details.
- 3.
You hen choose your statement and communication delivery preference, whether you want it by mail or online.
- 4.
Next, take your time to read through the E-sign disclosure and the pricing & terms. Lastly read the certifications, tick the box, and then click “Submit.”
Is the Chase Sapphire Reserve Card Right for You?
Chase Sapphire Reserve is one of the best travel reward cards for those with excellent credit.
If you spend much of your time traveling and eating out, this is an excellent card offering the best travel rewards in the market. Chase Sapphire Reserve offers a very large sign-up bonus and many travel perks.
The large annual fee may scare off some consumers and this may not be the right travel reward card for those who travel only a couple of times a year. This card is for consumers who do a lot of traveling and that want to maximize rewards.
The Chase Sapphire Reserve Card is a good option if you have:
- Travel Frequently: If you travel frequently, you may be able to justify the high annual fee. This is due to the fact that you are eligible for some spectacular rewards.
- If you like to travel in style: cardholders have access to over 1,000 VIP airport lounges around the world. You also get free credits for things like TSA Precheck and Global Entry every year.
- Want Generous Rewards: By using this card for certain types of purchases, you can earn significant rewards. These benefits can quickly add up.
Compare The Alternatives
There a couple of travel premium cards that can be considered as an alternative to the Chase Reserve card. You may want to explore them before applying:
|
|
| |
|---|---|---|---|
The Platinum Card® from American Express | Chase Sapphire Reserve® | Capital One Venture X Rewards | |
Annual Fee | $695. See Rates & Fees | $550 | $395 |
Rewards |
1X – 5X
5X points on up to $500,000 spent on directly-booked airfare and flights and prepaid hotels booked through American Express Travel (per calendar year), 2X points on prepaid car rentals through American Express Travel and 1X points on all other purchases
|
1X – 10X
5X total points on air travel and 10X total points on hotels, car rentals when you purchase through Chase Ultimate Rewards®, immediately after earning your $300 annual travel credit. Also, earn 3x points on dining at restaurants and travel (after meeting the $300 travel credit), then 1x points per dollar spent on all other purchases
| 1X – 10X
10 miles per dollar on hotels and rental cars when booking via Capital One Travel, 5 miles per dollar on flights and 2 miles per dollar on all eligible purchases
|
Welcome bonus |
80,000 points
80,000 Membership Rewards® points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership
|
60,000 points
60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
| 75,000 miles
75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening
|
Foreign Transaction Fee | $0. See Rates & Fees | $0 | $0
|
Purchase APR | 21.24% – 29.24% APR Variable | 22.24%–29.24% variable APR | 19.99% – 29.99% (Variable) |
FAQ
Yes, you can get car rental insurance with this card if you decline the collision cover of the rental company and pay for the entire cost of the rental car with this card. Please review the terms and conditions before to make sure you're covered.
There are no transparent income requirements, but it is usually expected that your annual income is at least $60,000 and you may be asked for proof of income.
There is no sort of limit in place how much cash back or rewards that you can earn when you are using this card over time.
You can redeem your points in a variety of ways through the Chase credit card reward portal. Some of the perks you can get include cash, travel credit, statement credit, and gift cards.
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