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Chase Sapphire Reserve®: Is It Worth Applying For?

Chase Sapphire Reserve®: Is It Worth Applying For?

Great credit card for anyone who travels and dines out a lot. High rewards coupled with good lounge access and perks makes this card well worth $450.
Editor's Rating: 5.0/5.0
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Editor's Rating

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5.0/5.0

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Despite having a $450 annual fee, the Chase Sapphire Reserve® is a worthwhile investment. The card provides industry-leading rewards on travel and dining purchases. In these categories, the card can net users a 4.5% rewards rate, provided you use the $300 travel credit. As a luxury travel card, it provides decent lounge access. However, it still doesn’t best some of its other competitors on this front, namely The Platinum Card® from American Express.

Chase Sapphire Reserve® Review: Is It Worth $450 Annually?

The Chase Sapphire Reserve® is easily one of the top travel credit cards. It gives far more rewards than current favorites like the Chase Sapphire Preferred® Card or the Capital One® Venture® Rewards Credit Card. The only catch is the card’s $450 annual fee. However, if you use all this card has to offer, you will come out ahead despite the hefty fee. The Chase Sapphire Reserve® is marketed toward the same people who’d apply for The Platinum Card® from American Express. On that end, it’s also very competitive. The card comes with a high $300 annual travel credit and the standard airport lounge access we’d expect. The Platinum Card® from American Express has slightly better lounge access, because it includes Delta Sky Club® and Amex's Centurion lounges.

Good For…Bad For…
Individuals who can qualify for the ultra-high sign-up bonusAnyone who frequently travels and can use the lounge access + $300 travel credit
People looking for a Chip & Pin credit card to use in EuropeThose looking for a lot of brand-exclusive perks and elite status with hotels

Most other credit cards that try to serve two functions end up being average. They fall into the ‘jack of all trades, master of none’ category. The Chase Sapphire Reserve® is an exception, in that it excels as both a luxury card and as a rewards credit card.

The early spend bonus on the Chase Sapphire Reserve® is one of the highest we’ve seen on any offer. You earn 50,000 Ultimate Rewards (UR) points after spending $4,000 on purchases within the first 3 months of card membership. When those points are used to book travel through the UR portal it works out to a value of $750. For context, we rarely see bonuses exceed $500 in value.

Bottom Line: We highly recommend the Chase Sapphire Reserve® to anyone who travels frequently and is a big spender. The card is especially good for anyone who can take full advantage of its $300 travel credit and airline perks.

Chase Sapphire Reserve® Benefits & Features

The Chase Sapphire Reserve® is a hybrid between rewards and premium credit cards. When it comes to day-to-day rewards, the card provides users 3X points on travel and dining at restaurants, and 1X points everywhere else (3 points on travel after you earn the $300 travel credit). Together with the 50% bonus on Ultimate Rewards redemptions, we calculate the rewards rate on the Chase Sapphire Reserve® to be between 1.5% and 4.5%. The value a single point earned through the card can be worth $0.015 when utilizing the 50% bonus. The card also comes with a sizable bonus of 50,000 points. To qualify, cardholders must spend at least $4,000 on purchases within the first 3 months of account opening. According to Chase, the bonus is worth up to $750, when redeemed for travel through the UR portal.

On Chase's Secure Website

Chase Sapphire Reserve®

On Chase's Secure Website
50,000 bonus points when you spend $4,000 in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • Named "Best Premium Travel Credit Card" for 2018 by MONEY® Magazine
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year
  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. $0 foreign transaction fees.
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,000+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select
  • Up to $100 application fee credit for Global Entry or TSA Pre✓®
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • Named "Best Premium Travel Credit Card" for 2018 by MONEY® Magazine
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year
  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. $0 foreign transaction fees.
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,000+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select
  • Up to $100 application fee credit for Global Entry or TSA Pre✓®
Annual Fee
$450
APR
19.24% - 26.24% Variable
Credit Needed
Excellent Credit
Editor's Rating
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In addition to the rewards you get from spending, the Chase Sapphire Reserve® provides you a $300 annual travel credit. It can be used for baggage fees, Global Entry, seat upgrades, or lounge access. The credit kicks in once every calendar year.

Chase Sapphire Reserve® Lounge Access & Luxury Benefits

The Chase Sapphire Reserve® gives you complimentary access to over 900 airport lounges through Priority Pass™ Select. Once you enroll, you may enter lounges for free whenever travelling on any itinerary. Guests need to pay $27 each, every time they wish to enter. This set up is equivalent to the Citi Prestige® tier of membership in the Priority Pass™ program – a $399 annual value.

Priority Pass™ Select is available through most premium credit cards, not just the Chase Sapphire Reserve®. In terms of coverage, it’s one of the better lounge memberships available. There are more Priority Pass™ lounges worldwide than through other programs, like Lounge Club.

Ultimate Rewards & Transfer Partners

A screenshot of the Chase Ultimate Rewards Travel Portal

The Chase Sapphire Reserve® earns you Ultimate Rewards points – one of the most valuable credit card reward programs on the market. Its value comes largely from the list of transfer partners. You can move your points over to 11 different airline and hotel programs. These will change from time-to-time. The current list includes:

  • British Airways Executive Club
  • Singapore Airlines KrisFlyer
  • Southwest Airlines Rapid Rewards®
  • United MileagePlus®
  • Virgin Atlantic Flying Club
  • Hyatt Gold Passport®
  • Marriott Rewards®
  • IHG® Rewards Club
  • Ritz Carlton Rewards®

All transfers are at a 1:1 ratio. If you plan your transfers right, it’s possible to increase your overall rewards rate. For example, we value Hyatt Gold Passport® at $0.021 each. Therefore, if you transfer your points over to the hotel, your rewards rate can be anywhere between 2.1% and 6.3%. You can read a more comprehensive analysis of how the transfer partners work here.

Pairing the Chase Sapphire Reserve® & Chase Freedom®

The Chase Freedom® is a no-annual-fee Chase Ultimate Rewards credit card. It earns you Earn 5 points per $1 on up to $1,500 in combined purchases in bonus categories each quarter you activate. Applying for both credit cards will allow you to pool all your points together. That way, you can maximize your savings. Use the Chase Freedom® whenever it allows you to earn 5 points per dollar, and the Chase Sapphire Reserve® on dining and travel purchases.

The Chase Freedom® also comes with a nice bonus. Spend $500 within the first 3 months of account opening and you'll receive 15,000 Ultimate Rewards points. If you combine that with the Chase Sapphire Reserve®, it comes out to a potential 65,000 bonus points.

How Does The Chase Sapphire Reserve® Compare To Other Credit Cards?

The best way to get a sense of the Chase Sapphire Reserve®’s value is by comparing it to other available offers. We matched the card against some other options below.

Chase Sapphire Reserve® vs Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card is a lower-tier version of the Chase Sapphire Reserve®. It’s missing a lot of the benefits of the latter, including lounge access and an airline credit. You are also awarded just 2 points per $1 on travel and dining at restaurants. The points you earn with the Chase Sapphire Preferred® Card are worth less than they are on the Chase Sapphire Reserve®.

The Chase Sapphire Preferred® Card costs significantly less. The card’s annual fee is waived for the first year, and is just $95 after that. That is $355 less than what you pay with the Chase Sapphire Reserve®. The elevated rewards rate you get with the premium card can make paying more worth it. The numbers look even better in favor of the Chase Sapphire Reserve® if you account for the $300 annual travel credit.

Quick Takeaway: The Chase Sapphire Reserve® will generally be the better of the two options, especially if you can make full use of the $300 annual travel credit.

Chase Sapphire Reserve® vs The Platinum Card® from American Express

The chief difference between The Platinum Card® from American Express and the Chase Sapphire Reserve® is where they focus on providing value. The Chase Sapphire Reserve® is superior in terms of earning rewards, while the AmEx card offers better customer service and lounge access. The Platinum Card® from American Express gives 1 Membership Reward point per dollar spent and has an annual fee of $550 (See Rates & Fees). You can boost that to 5 points if shopping through AmexTravel.com, or by booking directly through airlines. At best, your rewards rate will come out to somewhere around 5%, giving this card an edge over the Chase Sapphire Reserve® as far as air travel is concerned. However, the Chase Sapphire Reserve® offers you far more diverse opportunities to earn extra points, especially if you combine it with other Ultimate Rewards credit cards.

With The Platinum Card® from American Express you get access to Delta Sky Club®, Centurion Lounges and Priority Pass Select. That gives you far more lounge options than what you get with the Chase Sapphire Reserve®. Domestic travelers will especially appreciate the Centurion Lounges. Though few in number, they provide some of the best amenities we’ve seen in any other lounge. The lounge in New York’s LaGuardia airport, for example, comes equipped with a dentist’s office.

The welcome bonus on the Chase Sapphire Reserve® is far better. The Platinum Card® from American Express currently offers 60,000 points after you spend $5,000 on purchases in your first 3 months of card membership. We estimate the value of this to be just $600 – $150 less than the value of the Chase Sapphire Reserve® bonus.

Quick Takeaway: Anyone who cares mostly about saving money through generous rewards will probably get more out of the Chase Sapphire Reserve®. The Platinum Card® from American Express is better for those looking purely for air travel points, lounge access and customer service.

For rates and fees of the The Platinum Card® from American Express, please click here.

Chase Sapphire Reserve® vs Citi Prestige® Card

In terms of benefits, the Citi Prestige® Card is the closest card to the Chase Sapphire Reserve®. It awards 5 points per $1 spent on air travel and dining, 3 points on cruises, and 1 point on all other purchases. When redeemed for flights, ThankYou points are worth 1.25 cents each. That works out a potential rewards rate between 1.25% and 3.75%. It’s not quite as good as the Chase Sapphire Reserve® on that front, especially when it comes to dining.

The Citi Prestige® Card awards $250 in general travel credit. Though this is $50 less than what you get through the Chase Sapphire Reserve®, it can also be applied towards more than incidentals -- that means it is still better than the credit on other premium cards like The Platinum Card® from American Express. Airport lounge access is also comparable between the two cards.

Quick Takeaway: The Chase Sapphire Reserve® will give you more value, unless you spend a lot on entertainment purchases. With a lower bonus and airline credit, the Citi Prestige® Card doesn’t pack the same punch.

You can read more about how the Chase Sapphire Reserve® compares to the Citi Prestige® Card and The Platinum Card® from American Express in our in-depth breakdown.

Comparison Tool

Whether or not the Chase Sapphire Reserve® will be right for you will depend on how your spending breaks down. Use our tool below to compare this card's value to other offers.

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Comments and Questions

Opinions, analyses, reviews, or recommendations expressed here are the author's alone, and have not been reviewed or endorsed by the issuer. We may be compensated through the issuer's Affiliate Program. For a full list of our advertisers see our disclosure page

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on the issuer's website.

Info about the following cards: Premier Rewards Gold Card from American Express, Hilton Honors Surpass® Credit Card, American Express® Blue Sky, American Express® Green Card, The Amex EveryDay® Preferred Credit Card from American Express, The Amex EveryDay® Credit Card from American Express, The Plenti® Credit Card from Amex, Blue from American Express®, Platinum Card® from American Express Exclusively for Mercedes-Benz, Bluebird, Centurion® Card from American Express, Hilton Honors American Express Aspire Card, Starwood Preferred Guest® American Express Luxury Card, Amazon Business American Express Card, and Marriott Bonvoy Brilliant™ American Express® Card has been collected independently by ValuePenguin. The issuer did not provide the details, nor is it responsible for their accuracy.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates are ValuePenguin's alone and for illustrative purposes only. The estimates are not a guarantee, agreement, or commitment to redemption amounts and may not have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred® Card points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).