Chase Sapphire Reserve® Review: Is It Worth the Annual Fee?

The Reserve card offers a generous welcome bonus and hundreds of dollars in travel credits per year. It also gets you access to plenty of airport lounges around the U.S.

Plus, you'll score premium dining reservations and higher redemption rates when you book through Chase Ultimate Rewards® and Chase Travel℠.

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Overview of the Chase Sapphire Reserve

The Chase Sapphire Reserve® is the top-tier travel rewards card offered by Chase. Although the annual fee might seem steep, the benefits far outweigh the costs — assuming you travel frequently and can take advantage of the perks.

Your points may gain even more value by transferring them to travel partners like Hyatt, Marriott, Southwest Airlines, and British Airways. This can yield 2 cents per point or more — surpassing the 1.5 cents per point from booking through Chase Travel℠.

The 10x points on travel through Chase Travel℠ is a great bonus. As is earning 10x points on Chase Dining purchases — however, your options are limited, and the included restaurants are likely to be high-end (think: Michelin star rather than McDonald’s).

If you're a frequent traveler or want to add some luxuries to your trips, the Chase Sapphire Reserve stands out among the top cards in the market.

LEARN MORE: Chase Sapphire Reserve®

Redeeming Rewards

Chase Ultimate Rewards® is one of the best travel rewards programs available, and there are several ways you can redeem your points.

Chase Travel℠

Within Chase Travel℠, you can redeem points for statement credits, gift cards, and partner shopping. Or book hotels, car rentals, flights, experiences, and cruises.

To cover your travel expenses, consider using your credit card and earning up to 10x rewards. Or, you can use Ultimate Rewards® points, which are valued 50% higher than a standard cashback redemption.

You can access real-time pricing for all of these travel options, but make sure to check the prices against booking directly. Prices may sometimes be inflated and not worth it, even with the boosted redemption rate.

Transfer partners

Chase partners with 14 different loyalty programs, including three hotel chains and 11 airlines, and allows you to transfer points directly to a partner program for travel.

This can be a great option for booking with a specific airline or hotel and can lead to even better travel redemptions than using Chase Travel℠.

Here are the partners currently available with the Chase Sapphire Reserve card:

• Aer Lingus
• Air Canada
• Air France KLM
• British Airways
• Emirates
• Hyatt
• Iberia
• IHG Hotels & Resorts
• JetBlue
• Marriott Bonvoy
• Singapore Airlines
• Southwest
• United Airlines
• Virgin Atlantic

Some of the best redemption partners are Hyatt Hotels, British Airways (for short-haul flights), and Southwest Airlines with their “Wanna Get Away” fares. You can earn up to $0.03 or $0.04 per point, depending on the redemption.

It’s important to find your redemption option first before transferring points to a partner program. Once your Chase points are transferred to a partner, you can’t transfer them back.

Cashback

Chase lets you “pay yourself back” by choosing purchases to pay for with points. You can also choose to get a statement credit on your card. Both of these options are redeemed at a rate of $0.01 per point. 

This is a decent redemption rate, especially considering American Express points and Capital One points offer much less than $0.01 per point on cashback redemptions. That said, booking travel offers much better value for your points in most cases.

Chase Dining

The Chase Dining program allows you to book exclusive dining experiences through Chase Ultimate Rewards®. Plus, paying with your card earns you 10x bonus points. Some experiences are unique to Chase, and you can use the “Reserve by Sapphire” restaurant booking service for elusive reservations.

Note that you can only earn 10x rewards on dining that is fully pre-paid ahead of the reservation. However, not all dining options in the portal have these options, so make sure to find one that allows you to fully prepay if you’re hoping to score the 10x bonus.

LEARN MORE: Chase Sapphire Reserve®

Other Perks and Benefits

Outside of bonus points and rewards, there are a host of benefits offered by the Chase Sapphire Reserve®.

• $300 annual travel credit: You automatically get up to $300 reimbursed when booking travel, including airlines, hotels, car rentals, timeshares, and even campgrounds.
• Up to $100 credit for airport security screening: Get a statement credit of up to $120 every four years to cover the application cost for TSA PreCheck®, Global Entry, or NEXUS. 
• Global lounge access: Get a free Priority Pass membership for access to hundreds of lounges, as well as Chase Sapphire lounge access in select locations.
• Travel protection: This card offers coverage for trip delays, trip cancellation/interruption, baggage delays, and lost baggage. It also offers primary auto coverage insurance.
• DoorDash DashPass: Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
• Luxury Hotel Collection: Get extra perks at Luxury Hotel Collection properties, including complimentary breakfast, free upgrades (when available), late checkout, and more.

Who Should Get the Chase Sapphire Reserve?

The Chase Sapphire Reserve® is ideal if you're a frequent traveler who can take advantage of all of the travel credits and bonus point categories.

If you travel for work or simply fly a lot, having airport perks, like lounge access, faster security screening, and travel credits can more than make up for the annual fee.

And if you prefer to book travel with points, the 50% value bonus can help your points stretch further, allowing you to book more travel for less.

Who Shouldn’t Get the Chase Sapphire Reserve?

If you don’t travel much and won’t use the credits available with the Chase Sapphire Reserve, then it’s probably not worth the annual fee.

This card is designed for regular travelers and those who can offset the hefty fee through travel credits and bonus spending categories.

If you’re only a casual traveler, there are several other cards available with much lower fees that can still give you some perks but won’t cost hundreds per year.

Alternatives to the Chase Sapphire Reserve

For a more modest travel card: Chase Sapphire Preferred® Card

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Both the Chase Sapphire Reserve and the Chase Sapphire Preferred® Card let you earn insanely valuable Ultimate Rewards® points, and both offer the same welcome bonus. However, the annual fee varies quite a bit between the two cards, as do the benefits.

LEARN MORE: Chase Sapphire Preferred® Card

For luxury travel perks: The Platinum Card® from American Express

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The Platinum Card® from American Express is the flagship Amex card that offers the most perks. However, it also comes with an eye-watering annual fee. Whether or not the fee is worth it depends on how many of the card’s perks you’ll actually use.

LEARN MORE: The Platinum Card® from American Express

For a lower annual fee: Capital One Venture X Rewards Credit Card

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Like the Chase Sapphire Reserve, the Capital One Venture X Rewards Credit Card offers quite a few perks in addition to the sign-up bonus. Plus, it has similar benefits and a significantly lower annual fee. Opt for the Venture X if you're seeking travel perks without the Sapphire Reserve's high fee.

LEARN MORE: Capital One Venture X Rewards Credit Card

FAQs

Is it worth getting Chase Sapphire Reserve?

The Chase Sapphire Reserve targets frequent travelers, and its high annual fee is only justified for those who can maximize its benefits. If you don't travel much, a lower-fee card is more suitable.

How much do you need to spend to make Chase Sapphire Reserve worth it?

It’s not about how much you need to spend, but rather a question of your ability to use all of the perks of the card. If you value lounge access and travel frequently, you should easily be able to get more than $550 worth of value from the card. 

To earn the welcome offer of 60,000 points, worth $900 in travel, you need to spend at least $4,000 within 3 months of card opening.

Is Chase Sapphire Reserve hard to get?

Approval for the Chase Sapphire Reserve card requires having a solid income. Additionally, you must not have applied for five personal credit cards within the last 24 months to be approved.

The Bottom Line

The Chase Sapphire Reserve® is a premium travel credit card for people who travel a lot. You'll get great perks, like lounge access and a credit for TSA PreCheck® or Global Entry — but you'll pay a hefty annual fee to access those benefits.

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Disclosure: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.