With its $550 annual fee, the Chase Sapphire Reserve® might seem pricey at first glance — but this card holds tremendous value for frequent travelers.

Its welcome bonus, travel credits, eye-popping earning rates, and luxury travel perks could easily help offset the card’s annual cost. Its travel protections and airport lounge access also provide peace of mind and added comfort when you travel.

That said, this card isn’t for everyone. Here’s what you need to know about the Chase Sapphire Reserve, its pros and cons, and who it’s best for.

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Chase Sapphire Reserve®

• Annual fee
  $550
• Welcome offer
  Earn 60,000 bonus points after spending $4,000 in the first 3 months
• Card type(s)
  Travel
• Ongoing Purchases APR
  21.99% - 28.99% Variable
• Recommended credit score
  Excellent

• Rewards rate
  • 10x points on hotels and rental cars purchased through Chase Travel℠*
  • 5x points on flights purchased through Chase Travel*
  • 3x points on dining and other travel purchases
  • 1x points on all other purchases
  • *After the first $300 is spent on travel purchases annually

• Benefits
  • Points are worth 50% more when you redeem through Chase Travel
  • Earn up to $300 in annual statement credits for travel purchases
  • Receive up to a $120 statement credit every four years to cover the application fee for Global Entry, TSA PreCheck, or NEXUS

More details: $300 annual travel credit, complimentary airport lounge access, and 50% higher redemption value when you use your points to book travel through Chase.

Additional benefits

Credits

With the Chase Sapphire Reserve, you'll get a $300 annual travel credit, which offsets the card’s annual fee considerably. Cardmembers can also get up to $120 in statement credits every four years for Global Entry, TSA PreCheck, or NEXUS application fees.

Airport lounge access

You’ll also receive a free Priority Pass Select membership as a cardholder, giving you free access to over 1,300 Priority Pass airport lounges worldwide. You can also bring along up to two guests, though additional charges may apply.

Additionally, your card gives you free access to Sapphire Lounges, though these relaxing spaces are only available at a few airports.

Travel protections

No premium travel card would be complete without sufficient protections and insurance coverage for your adventures. Chase Sapphire Reserve cardholders can access several types of travel safeguards, including:

• Auto rental collision damage waiver

• Baggage delay insurance

• Lost luggage reimbursement

• Emergency evacuation and transportation

• Emergency medical and dental treatment

• Trip cancellation or interruption insurance

• Travel accident insurance

Cardholders get up to $75,000 of primary auto rental collision damage waiver insurance for a covered event. Credit cards offering this benefit typically have secondary coverage, meaning you need to file a claim with your car insurance company before the secondary coverage kicks in. Filing a claim with your insurer could increase your premiums, so primary coverage is valuable.

Partner benefits

Your card also comes with partner benefits, including two free years of Lyft Pink when activated by December 31, 2024. With this membership, you’ll get special upgrades, exclusive rates, and discounts on bike-sharing.

Cardholders also get these partner perks:

• Free DashPass membership for Doordash for at least a year (when activated by December 31, 2027).

• Free year of Instacart+ membership and up to $15 in monthly statement credits for eligible purchases made through July 2024.

How to earn rewards

You can maximize your rewards with the Sapphire Reserve by making frequent rental car, hotel, or flight purchases through Chase Travel. These purchases could earn you between 5x and 10x points. For a limited time, you can also earn 10x points on purchases with Chase partners like Peloton and Lyft.

Travel bookings made elsewhere will earn 3x points, as will restaurant purchases. While this isn’t the highest possible reward rate with this card, it’s still fairly generous. Plus, it gives you some flexibility if you find a better deal outside of the Chase portal.

All other eligible purchases with this card will net you 1x points. You won’t earn rewards on any credits, cash advances, or balance transfers.

How to redeem rewards

With this card, you have several options for redeeming rewards. As mentioned, you can use your points to book travel through Chase or transfer them to an airline or hotel partner. Chase currently has over a dozen travel partners, including British Airways, JetBlue, Southwest, United Airlines, Marriott Bonvoy, and Hyatt.

Besides redeeming with partner transfers or through Chase Travel, you can also use your rewards for:

• General statement credits

• Credits for certain qualifying purchases

• Gift cards

• Amazon and Apple purchases

• Bookings through Chase Experiences or Chase Dining

Who is the Chase Sapphire Reserve best for?

The Sapphire Reserve could be an excellent option for frequent travelers. Because its annual fee is high, this card generally only makes sense for those who can take advantage of its travel credits, high earnings rates, and ample partner benefits.

To really maximize the benefits of the Sapphire Reserve, cardholders should be comfortable booking travel or dining experiences through the Chase portal. Not only can doing so net you up to 10x points on your purchases, but redeeming your existing points by booking with Chase Travel can also maximize your redemption value, too.

If you’re an occasional traveler or will struggle to use the card’s many partner perks, a travel rewards card with a lower fee may be a better choice.

Chase Sapphire Reserve pros

• Substantial annual travel credit

• Flexible rewards

• Multiple travel protections

• Complimentary lounge access

• No foreign transaction fees

Chase Sapphire Reserve cons

• High annual fee

• Complicated rewards structure

• Excellent credit may be required

Where can you use Chase Sapphire Reserve?

The Chase Sapphire Reserve is part of the Visa credit card network, so you can use it worldwide wherever Visa cards are accepted.

How to make a Chase Sapphire Reserve payment

• Online via the Chase website

• Through the Chase mobile app

• By phone: 1-800-436-7958

• By mail:
  Cardmember Services
  P.O. Box 6294
  Carol Stream, IL 60197-6294

• By Western Union (code city WALNUT)

• In-person at a Chase ATM or branch

Chase Sapphire Reserve customer service info

You can reach Chase’s credit card customer service team by calling 1-800-432-3117 or messaging them through X, Instagram, or Facebook.

Alternative cards to consider

If the Chase Sapphire Reserve doesn’t sound like the best travel card for your wallet, the following lower-annual-fee alternatives could fit the bill.

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Chase Sapphire Preferred® Card

• Annual fee
  $95
• Welcome offer
  Earn 60,000 bonus points after spending $4,000 in the first 3 months — that's worth $750 when redeemed through Chase Travel℠
• Card type(s)
  Travel
• Ongoing Purchases APR
  20.99% - 27.99% Variable
• Recommended credit score
  Excellent/Good

• Rewards rate
  • 5x points on travel purchased through Chase Travel℠
  • 3x points on dining, select streaming services, and online groceries
  • 2x points on all other travel purchases
  • 1x points on all other purchases

• Benefits
  • Points are worth 25% more when you redeem for airfare, hotels, car rentals and cruises through Chase Travel
  • Earn up to $50 in annual statement credits for hotel stays purchased through Chase Travel
  • On every account anniversary, earn bonus points equal to 10% of your total purchases made the previous year

Why we like it: Like its big sister, the Chase Sapphire Preferred comes with a host of perks, including a $50 annual hotel credit. With this card, you’ll also earn 5x points on qualifying purchases through Chase Travel; 3x points on dining out, at online grocery stores, and on select streaming services; 2x points on other travel purchases; and 1x points on everything else. Your points are worth 25% more when you use them to book trips in Chase Travel.

Learn more: Which is the best Chase credit card?

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Capital One Venture X Rewards Credit Card

• Annual fee
  $395
• Welcome offer
  Earn 75,000 miles after spending $4,000 on purchases in the first 3 months
• Card type(s)
  Travel
• Purchase APR
  19.99% - 29.74% variable
• Recommended credit score
  Excellent

• Rewards rate
  • 10x miles on hotels and rental cars booked through Capital One Travel
  • 5x miles on flights and vacation rentals booked through Capital One Travel
  • 2x miles on all other purchases

• Benefits
  • $300 annual credit for travel bookings through Capital One Travel
  • 10,000 annual bonus miles (worth $100 in travel spending; starts on your first account anniversary)
  • Unlimited access for you and two guests to Capital One Lounges and 1,300+ more lounges through partner networks

Why we like it: The Venture X Rewards Card from Capital One has a $395 annual fee, but cardmembers benefit from a $300 annual credit for travel booked through Capital One. Maxing out this credit will significantly offset your annual fee.

Besides that, this card comes with a generous welcome bonus. Cardmembers can also earn 10x miles on hotels and car rentals booked via Capital One, 5x miles on flights purchased through Capital One, and 2x miles on everything else.

Capital One Venture X review: Credits and lounge access for frequent travelers

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American Express® Gold Card

Rates & fees, terms apply

• Annual fee
  $325
• Welcome offer
  Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases in the first 6 months
• Card type(s)
  Travel, Rewards
• Ongoing Purchases APR
  See Pay Over Time APR
• Recommended credit score
  Excellent/Good

• Rewards rate
  • 4x Membership Rewards Points at restaurants worldwide (on up to $50,000 per calendar year in purchases, then 1x)
  • 4x Membership Rewards points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1x)
  • 3x Membership Rewards points on flights booked directly with airlines or on AmexTravel.com
  • 2x Membership Rewards points on prepaid hotels and other eligible purchases booked on AmexTravel.com
  • 1x Membership Rewards points on all other eligible purchases

• Benefits
  • Earn up to $10 in statement credits each month when you pay with your American Express Gold Card at Five Guys, Grubhub, The Cheesecake Factory, Goldbelly, and Wine.com (enrollment required)
  • Up to $100 in annual statement credits ($50 semi-annually) when you use your American Express Gold Card on eligible purchases at U.S. restaurants on the Resy app or Resy.com
  • Up to $84 per year ($7/month) in statement credits after you enroll and pay with your American Express Gold Card at more than 9,000 U.S. Dunkin’® locations

Why we like it: The American Express Gold Card lets you earn big rewards in popular spending categories. You’ll get 4x points on restaurant and U.S. grocery store purchases, 3x points on flights booked through Amex Travel or with airlines, and 1x points on everything else. This card also offers a lucrative welcome bonus and multiple ways to earn statement credits.

American Express Gold Card review: Everyday rewards for travel savings

This article was edited by Alicia Hahn

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to the author(s) and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.