In the world of premium credit cards, the Chase Sapphire Reserve® is a popular choice for those who are serious about traveling in style and maximizing their rewards. Introduced as a high-end complement to the popular Chase Sapphire Preferred® card, the Sapphire Reserve offers a suite of benefits and rewards that cater to frequent travelers.
However, with the recent nerfs to the Sapphire Reserve, how does the card rank nowadays? In this article, we discuss the earning structure of the card, the credits, the benefits, and our general thoughts on the card.
The Earning Structure
The Sapphire Reserve has a decent earn structure, mainly designed to reward spend on travel and dining:
- Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel immediately after the first $300 is spent on travel purchases annually
- 3 points per dollar on other travel
- 3 points per dollar on dining at restaurants
- 1 point per dollar on all other purchases
This rewards rate makes the Sapphire Reserve a decent card, especially for those who frequently spend in these categories. However, I would not necessarily use this card for everyday spend, since some cards like the Chase Freedom Unlimited® have a higher floor on spend.
$300 Annual Travel Credit
One of the card's standout features is the $300 annual travel credit. This credit automatically applies to a wide range of travel-related purchases, including airfare, hotels, and even some transportation services, effectively reducing the annual fee for those who travel enough to utilize it fully.
Furthermore, this travel credit stands out from the Capital One Venture X Rewards Credit Card because of its flexibility and ease of use. While the Venture X $300 travel credit can only be used for bookings via the Capital One Travel portal, the Sapphire Reserve’s travel credit can be used for a wide variety of travel-related purchases. It is so incredibly to use this travel credit that it’s almost laughable at times.
According to the Chase FAQs, travel purchases are as follows: airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages.
They also have some exclusions, which include: real estate agents, educational merchants arranging travel, in-flight goods and services, on-board cruise line goods and services, sightseeing activities, excursions, tourist attractions, RV and boat rentals, merchants within hotels and airports, public campgrounds and merchants that rent vehicles for the purpose of hauling. Purchases from gift card merchants or merchants that sell points or miles will not qualify in the travel category.
Complimentary Airport Lounge Access: Priority Pass & Chase Sapphire Lounges
The Chase Sapphire Reserve provides complimentary access to over 1,300 airport lounges worldwide through Priority Pass Select. This membership offers a relaxing escape from the bustling airport environment, with amenities such as Wi-Fi, comfortable seating, complimentary snacks and beverages, and sometimes even shower facilities. If you don’t currently have Priority Pass lounge access, then this card will fulfill this niche for you. However, if you already have Priority Pass access, then this card won’t be able to provide much more ancillary value ontop.
However, Chase also recently started investing in its own lounges, starting with the introduction of the Chase Sapphire Lounges by the Club, which are ranked among the best lounges in the country (arguably the best in the Priority Pass collection). If you fly out of Boston, Hong Kong, LaGuardia, or JFK frequently, the Reserve card might be pretty easy to justify for the consistent Chase lounge access.
Best In Class Travel Insurance
Anecdotally, the Chase Sapphire Reserve has some of the best travel insurance in the game (terms & conditions apply):
- Auto rental collision damage waiver
- Trip cancellation/interruption insurance
- Trip delay reimbursement
- Travel accident insurance
- Travel and emergency assistance services
- Lost luggage reimbursement
- Baggage delay insurance
- Emergency evacuation and transportation
- Roadside assistance
- Emergency medical and dental benefit
One of my favorite benefits is the baggage delay insurance, which kicks in after a bag has been delayed by 6 hours or more. Furthermore, while I haven’t had to use it, trip delay reimbursement is equally as useful, covering you and your family after a delay of 6 hours or more. However, in either case, reimbursements are retroactive, so proceed with caution whenever spending with the intention of requesting for insurance coverage.
Using Points For Partner Bookings
Points earned on the Reserve can be used to book award travel. Chase Ultimate Rewards points are really valuable and can be transferred to a wide variety of travel partners. For example, when searching for a random flight from SFO to NYC, I selected the filter to look at only Chase cards and can see several options via Jetblue + United Airlines (both Chase transfer partners).
Click here to learn more about transferring your points to Chase!
Points Are Worth 1.5 Cents Each When Redeemed Through Chase Travel
One of the Reserve's most powerful features is the fact that points redeemed through Chase Travel are immediately worth 1.5 cents each. This can be really useful to have, since it basically raises the floor value of your points. While some bookings may cost more on the portal, others may cost the same, and you may just be included to use your points to book travel directly through the portal where needed to get decent value out of them.
Lyft Benefit: Earn 5x On Lyft Rides & Get $10 Monthly In-App Lyft Credit
Through September 2027, users earn 5x points on all Lyft rides, down from the prior 10x earning boost. Additionally, Reserve cardholders also get a $10 monthly in-app Lyft credit through September 30, 2027.
DoorDash Benefit
For those who enjoy the convenience of meal delivery, the Sapphire Reserve includes a complimentary DashPass subscription from DoorDash, valued at approximately $9.99 per month. This subscription provides reduced service fees and free delivery on orders over $12. Additionally, cardholders receive up to $60 in DoorDash credits per year, awarded as $5 each month.
TSA PreCheck/Global Entry/NEXUS Application Fee Credit
To streamline your travel experience, the Chase Sapphire Reserve offers a statement credit of up to $120 every four years as reimbursement for the application fee charged for TSA PreCheck, Global Entry, or NEXUS. Using this benefit is easy— you have to apply for a program and pay the application fee with your card.
Earn More Points When Booking Travel Via Chase Travel
When using your Chase Sapphire Reserve to book travel through Chase Travel (after the first $300 is spent on travel purchases annually), you'll earn a healthy number of points:
- 5x total points on flights when you purchase travel through Chase Travel
- Earn 10x total points on hotels (excluding The EditSM) and car rentals when you purchase travel through Chase Travel
Annual Fee and Value Consideration
For a card with a $550 annual fee, this card comes with a slew of credits that can help offset a large portion of it. The $300 travel credit is incredibly easy to use, which helps drop the annual fee considerably. Furthermore, the Doordash benefit can help provide up to an additional $60 of order delivery value. Beyond that, we’re looking at a lot of intangible value items that will need to stack up against the remaining $190 out of pocket investment.
It’s interesting to justify the lounge access, Lyft Pink, DashPass, and travel insurance against the remaining annual fee. For some, this could be worth justifying; for others, not so much. It will definitely come down to how you think the card’s benefits could be worthwhile.
Conclusion
The Chase Sapphire Reserve is a premium travel credit card that offers significant value to those who travel frequently and spend heavily on travel and dining. With its robust rewards program, substantial travel credits, and comprehensive travel protections, it stands as a compelling choice for the discerning traveler seeking both luxury and convenience.
