Chase Sapphire Reserve credit card review 2023: A top luxury travel card

The Chase Sapphire Reserve® is an ultra-premium travel credit card with valuable benefits including an annual travel credit, airport lounge access and travel protections. It also earns Chase Ultimate Rewards® points, which can be used to book travel, get cash back, transfer to hotel and airline partners and more.

Editor’s note: This article contains updated information from a previously published story

Chase Sapphire Reserve®

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Welcome Bonus

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $900 toward travel when you redeem through Chase Ultimate Rewards®.

60,000 bonus points

Annual Fee

$550

Regular APR

22.49%-29.49% Variable

Credit Score

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

(750 – 850) Excellent

Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining. Earn 1x points on all other purchases.

Editor’s Take

Pros

• Up to $300 annual travel credit and Priority Pass Select lounge access.
• Redeem points for 50% more value to book travel through Chase’s portal.
• Transfer points 1:1 to partners such as United Airlines and World of Hyatt.

Cons

• High annual fee.
• Not ideal if you aren’t interested in transferring points.
• May not qualify if you’ve applied for 5 or more credit cards in the last 24 months.

The Chase Sapphire Reserve is one of the most premium travel credit cards available. It charges a hefty annual fee, but in exchange comes with an up to $300 annual travel credit, a top-notch list of travel partners you can transfer points to, a Priority Pass Select airport lounge membership (enrollment required) and a long list of travel benefits and protections.

Card Details

• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $900 toward travel when you redeem through Chase Ultimate Rewards®
• $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
• Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $900 toward travel
• 1:1 point transfer to leading airline and hotel loyalty programs
• Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
• Member FDIC

About the Chase Sapphire Reserve

Frequent travelers will benefit from the earning power, benefits, and travel protections offered by the Chase Sapphire Reserve. This ultra-premium travel credit card is for travelers who want luxury travel benefits, like an annual travel credit of up to $300 in statement credit reimbursements, Priority Pass airport lounge access upon enrollment, primary rental car protection and more. Plus, it earns 5 points per $1 on flights and 10 points per $1 on hotels and car rentals purchased through Chase Ultimate Rewards® after the first $300 is spent on travel purchases annually. Earn 3 points per $1 on other travel and dining and 1 point per $1 on other purchases — which offers tremendous value when booking travel or transferring to airline and hotel partners. In short, the Sapphire Reserve is a true gem if you like to travel in luxury.

That said, in exchange for its array of benefits, the Chase Sapphire Reserve charges a hefty $550 annual fee. While the fee is worth it for travelers who take advantage of all of these perks, the occasional traveler may be better off with a less-expensive card — such as the Reserve’s little sibling, the Chase Sapphire Preferred® Card.

Chase Sapphire Reserve overview

• Annual fee: $550, plus $75 for each authorized user.
• Welcome bonus: 60,000 points after spending $4,000 on purchases in the first three months of account opening.
• Rewards: 5 points per $1 on flights and 10 points per $1 on hotels and car rentals purchased through Chase Ultimate Rewards® after the first $300 is spent on travel purchases annually. Earn 3 points per $1 on other travel and dining and 1 point per $1 on other purchases.
• APR: 22.49% to 29.49% variable APR on purchases and balance transfers. A balance transfer fee of either $5 or 5% of each transfer, whichever is greater, applies.
• Other perks and benefits: Up to a $300 annual travel credit, Priority Pass membership (enrollment required), up to $100 reimbursement for a Global Entry, TSA PreCheck, or NEXUS application fee, and travel protections. Points are worth 50% more when used to book travel through Chase Ultimate Rewards.
• Does the issuer offer a preapproval tool? Yes.
• Recommended credit score: Excellent.

Chase Sapphire Reserve other details

Chase Sapphire Reserve rewards

Cardholders can earn Chase Ultimate Rewards points in multiple ways with the Chase Sapphire Reserve card. When you first apply, you are eligible for a welcome bonus of 60,000 points after spending $4,000 on purchases in the first three months of account opening. This bonus is worth $900 when booking travel through Ultimate Rewards.

The card also earns 5 points per $1 on flights and 10 points per $1 on hotels and car rentals purchased through Chase Ultimate Rewards® after the first $300 is spent on travel purchases annually. Earn 3 points per $1 on other travel and dining and 1 point per $1 on other purchases.

Note that earning points on travel, whether booked through the Ultimate Rewards portal or otherwise, begins after you’ve used the annual travel credit of up to $300.

Chase Ultimate Rewards points are flexible and can be redeemed for travel, cash back, gift cards and more. Points are worth one cent each for most redemptions, but they’re worth 50% more when booking travel through Ultimate Rewards, making one point worth 1.5 cents.

You can also transfer points to more than a dozen airline and hotel partners for a potentially higher redemption value. Points transfer on a 1:1 basis in 1,000-point increments. When you transfer points, they combine with your existing balances in those airline or hotel loyalty programs so you can use them to book award travel.

Chase Sapphire Reserve rewards potential

One of the major benefits of having a rewards credit card like the Chase Sapphire Reserve is turning your normal, daily expenses into valuable rewards.

Using government data and other publicly available information, we estimate that a household in the U.S. that would be in the market for this card has an annual income of $84,352 and $25,087 in expenses they are likely to be able to charge to a credit card.

• $5,882 in spending on travel x 3 points per $1 = 17,646 points.
• $3,526 in spending on dining x 3 points per $1 = 10,578 points.
• $15,679 in spending on all other categories x 1 point per $1 = 15,679 points.

For a grand total of 43,903 in rewards annually.

Chase Ultimate Rewards points are valued at least one cent per point, which means 43,903 rewards points equals about $439 in cash back rewards. Cardholders could also redeem those points for approximately $659 in travel booked through Chase Ultimate Rewards. However, transferring points to airline and hotel partners and then redeeming them for award travel often provides the highest value.

Cardholders may earn even more points on their spending each year by booking dining reservations through Chase Dining and travel through the Chase travel portal.

Chase Sapphire Reserve benefits

The Chase Sapphire Reserve credit card is loaded with premium features and benefits that make it one of the most popular travel credit cards for experienced travelers. Here are some of the benefits that you should be aware of.

• $300 annual travel credit: This annual credit offsets up to $300 per year on any purchases that code as travel.
• Airport lounge access: Register your card to receive a complimentary Priority Pass Select membership that provides access to over 1,300 airport lounges.
• 50% more value for your points: Your points are worth 50% more when booking travel through Chase Ultimate Rewards.
• Airline and hotel transfer partners: Chase partners with many airlines and hotels, offering transfers at a 1:1 rate of your Ultimate Rewards points to the partners’ loyalty programs, where you can then use your transferred points to book award travel.
• Global Entry, TSA PreCheck or NEXUS reimbursement: You’ll be reimbursed up to $100 every four years when using your card to pay the application fee for one of these programs.
• Luxury Hotel & Resort Collection: Receive elite-level benefits when booking hotel rooms at more than 1,000 properties.
• No foreign transaction fees: Avoid the extra charge of up to 3% that many credit cards tack on when making purchases outside the U.S.
• Travel protections: Receive trip cancellation and interruption insurance, primary rental car protection, lost luggage reimbursement and trip delay reimbursement. You’re also protected with emergency evacuation and transportation benefits in covered situations.
• Purchase protections: Your eligible purchases are covered against damage or theft for up to 120 days. Plus, you’ll be reimbursed for eligible items the store won’t take back within 90 days of purchase. Eligible items also receive a one-year extended warranty at no extra charge.
• Lyft benefits: Earn 10 points per dollar on Lyft rides and enjoy two complimentary years of Lyft Pink All Access membership when you activate by Dec. 31, 2024.
• Gopuff credits: Receive a $10 monthly statement credit when making Gopuff purchases through Dec. 31, 2023.
• DoorDash subscription: Get $5 monthly DoorDash credits and a complimentary one-year DashPass membership offering $0 delivery fees and lower service fees on eligible DashPass and Caviar orders.
• Instacart benefits: A one-year complimentary membership to Instacart+ and monthly statement credits of up to $15 through July 2024.

Chase Sapphire Reserve APR

Cardholders pay a 22.49% to 29.49% variable APR on purchases and balance transfers. A balance transfer fee of either $5 or 5% of each transfer, whichever is greater, applies. If you use the My Chase Loan℠ or balance transfer features, the same interest rate applies.

Chase Sapphire Reserve pros

• Annual travel credit can be used for any travel purchase.
• Airport lounge access includes participating restaurants.
• Flexible points can be redeemed in multiple ways.

Chase Sapphire Reserve cons

• High annual fee for primary and authorized users.
• Requires excellent credit.
• Does not offer 0% intro APR promos.

How the Chase Sapphire Reserve compares to other travel cards

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

The Amex Platinum (terms apply, rates & fees) is another ultra-premium travel card that earns flexible points. It also offers airport lounge access, annual credits and bonus rewards categories that travelers will likely find useful. The card earns 5 Membership Rewards points per $1 for flights booked directly with airlines or with American Express Travel on up to $500,000 per calendar year, 5 points per $1 on prepaid hotels booked with American Express Travel and 1 point per $1 on other purchases.

However, hotel reservations must be prepaid through American Express Travel if you want to earn rewards, and it does not offer rewards on dining purchases. While it does offer more annual credits to offset its larger $695 annual fee, there are numerous restrictions that can make them harder to redeem for some cardholders.

Chase Sapphire Reserve vs. Capital One Venture X Rewards Credit Card * The information for the Capital One Venture X Rewards Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

The Capital One Venture X is a relative newcomer to the luxury travel credit card world. However, it is packed with features and benefits at a lower price point than many of its competitors. This card includes an annual $300 travel credit — but you must book reservations through Capital One Travel to redeem it.

Cardholders can earn 2 miles per $1 on purchases, 5 miles per $1 on flights booked through Capital One Travel and 10 miles per $1 on hotels and rental cars booked via Capital One Travel. Because most purchases earn a flat rewards rate, there are no bonus categories that you have to remember. It also comes with 10,000 annual bonus miles, a Priority Pass Select membership upon enrollment, access to Capital One Lounges and an up to $100 reimbursement for a Global Entry or TSA PreCheck application fee.

Chase Sapphire Reserve vs. Chase Sapphire Preferred® Card

The Chase Sapphire Preferred Card offers similar benefits and earning power as the Chase Sapphire Reserve for a modest $95 annual fee. Cardholders earn 5 points per $1 on travel purchased through Chase Ultimate Rewards®, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases. Points are worth 25% more when booking travel through Chase and can be transferred on a 1:1 basis to the same travel partners as the Sapphire Reserve. 

The Sapphire Preferred also includes a robust lineup of travel and purchases protection benefits, such as trip cancellation and interruption insurance, primary rental car coverage and purchase protection for 120 days. But be aware, the Preferred card does not offer lounge access. This is a worthwhile card for people who travel semi-frequently, but not often enough to warrant paying the higher annual fee of the Chase Sapphire Reserve.

Chase Sapphire Reserve card summary

Is the Chase Sapphire Reserve worth it?

With an annual travel credit, airport lounge access, and premium travel protections, the Chase Sapphire Reserve is worth it for frequent travelers who value peace of mind and comfort. The card provides extensive travel benefits — including trip cancellation and interruption insurance and primary rental car coverage — and earns generous rewards on dining and travel purchases. Plus, your points can be transferred to popular travel partners such as United Airlines and World of Hyatt at a 1:1 rate.

For occasional travelers, it can be difficult to justify the $550 annual fee to hold the Chase Sapphire Reserve. If you feel like this describes your case, you might be better off applying for the Chase Sapphire Preferred or a no-annual-fee card like the Chase Freedom Unlimited®. That way, you can still earn Ultimate Rewards points and enjoy some perks when you do travel. But know that Chase’s no-annual-fee cards, such as the Freedom Unlimited, don’t let you transfer your points to partners like the Sapphire Preferred and Reserve do.

^{For rates and fees for The Platinum Card® from American Express please visit this page.}