The offers on this page are from advertisers who pay us. That may influence which products we write about, but it does not affect what we write about them. Here's an explanation of how we make money.

Chase Sapphire Reserve review: A premium travel card with luxury perks and flexible rewards

Jess Ullrich
Updated 8 min read

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.

Annual fee: $550

Welcome offer: Earn 75,000 bonus points after spending at least $4,000 on qualifying purchases in the first three months

Rewards:

  • 10x points on car rentals and hotels booked through Chase Travel

  • 10x points on Chase Dining purchases

  • 10x points on Lyft purchases (through March 31, 2025)

  • 10x points on Peloton purchases over $150 (through March 31, 2025)

  • 5x points on flights booked through Chase Travel

  • 3x points at restaurants and on travel

  • 1x points on all other purchases

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.

This credit card has a variable annual percentage rate (APR) ranging from 22.49% to 29.49%.

Sapphire Reserve cardholders pay a $550 annual fee. While this is fairly high, frequent travelers can easily offset this by using the card’s many benefits.

Given the Chase Sapphire Reserve’s high annual fee, you might expect a large welcome offer. Currently, new cardholders can earn 75,000 bonus points after spending $4,000 on qualifying purchases in the first 90 days.

Chase Ultimate Rewards points can be a lucrative rewards currency if used strategically. Points you earn with this card are worth 50% more (1.5 cents apiece) when used to book travel in the Chase portal.

If you redeem your bonus points by booking a trip through Chase Travel, the welcome offer is worth up to $1,125. You could potentially squeeze even more value from your points by transferring them directly to an airline or hotel partner, depending on your booking.

With this card, you won’t get a 0% introductory APR on purchases or balance transfers. Instead, the standard APR applies right away.

  • 10x points on car rentals and hotels booked through Chase Travel

  • 10x points on Chase Dining purchases

  • 10x points on Lyft purchases (through March 31, 2025)

  • 10x points on Peloton purchases over $150 (through March 31, 2025)

  • 5x points on flights booked through Chase Travel

  • 3x points at restaurants and on travel

  • 1x points on all other purchases

Because there’s a $300 annual travel credit with this card, you won’t earn rewards on the first $300 you spend on travel booked through Chase or elsewhere.

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.

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

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 $100 in statement credits every four years for Global Entry, TSA PreCheck, or NEXUS application fees.

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.

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.

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 and Caviar for at least a year (when activated by December 31, 2024.) Benefits include discounted delivery fees and a $5 monthly Doordash credit.

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

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.

  • Substantial annual travel credit

  • Flexible rewards

  • Multiple travel protections

  • Complimentary lounge access

  • No foreign transaction fees

  • High annual fee

  • Complicated rewards structure

  • Excellent credit may be required

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

  • 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

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

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.

Why we like it: Like its big sister, the Chase Sapphire Preferred comes with a host of perks, including a $50 annual hotel credit. New cardholders can also earn 75,000 points after spending $4,000 in the first three months. Your points are worth 25% more when you use them to book trips in Chase Travel.

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. Its annual fee is just $95.

Learn more: Which is the best Chase credit card?


Capital One Venture X Rewards Card

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: 75,000 miles after spending $4,000 on qualifying purchases in the first three months. 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.

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. As a new cardholder, you can earn 60,000 points after spending $6,000 in the first six months. This card offers several opportunities to earn statement credits, and its annual fee is $295. (See rates and fees. Terms apply.)

This article was edited by Alicia Hahn

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. 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.