Is the Chase Sapphire Reserve Card Worth It?
The is an exceptional travel rewards card that pays up to 10x points on hotel, car rental and dining purchases through Chase Ultimate Rewards and a $300 annual statement credit for qualifying travel purchases. Although the card has a higher annual fee than some of its competitors, it can be well worth it for those who frequently make travel and dining purchases through the Chase Ultimate Rewards program.
Is the Chase Sapphire Reserve card worth it for most people? Keep the following information in mind to help determine which cardholders can benefit from having a Chase Sapphire Reserve card.
Chase Sapphire Reserve Card Features
After the first $300 spent on travel purchases annually, cardholders earn:
- 5x points on flights booked through Chase Ultimate Rewards
- 10x points on hotels and car rentals booked through Chase Ultimate Rewards
- 3x points on other travel purchases
- 10x points on Lyft rides — valid through March 2025
Cardholders also earn:
- 10x points on Chase Dining purchases through Ultimate Rewards
- 3x points on dining, including delivery
- One point per dollar on all other purchases
Cardholders can redeem Chase rewards points for cash, gift cards and some travel at a value of one cent per point. But points redeemed for travel through Chase Ultimate Rewards are worth 50% more.
Other Card Features
The list of Chase Sapphire Reserve cardholder perks includes up to $300 in annual statement credits as reimbursement for travel purchases, a complimentary DoorDash subscription and complimentary access to 1,300+ VIP airport lounges in over 500 cities worldwide if enrolled in Priority Pass Select.
You’ll also have access to:
- A $10 statement credit for Gopuff every month
- Hotel perks like early check-in and room upgrades with The Luxury Hotel & Resort Collection
- A statement credit up to $100 every four years for Global Entry, TSA PreCheck or NEXUS
- 24/7 specialized customer service
- No foreign transaction fees
- Purchase and return protection
- Trip cancellation/interruption insurance
- Lost luggage reimbursement up to $3,000 per passenger
- Primary rental car insurance for theft and collision damage up to $75,000
New cardholders receive 60,000 bonus points after spending $4,000 on purchases within the first three months from opening an account. If these points are used toward travel through Chase Ultimate Rewards, they are worth $900.
Is the Chase Sapphire Reserve Card Worth It? Things To Consider Before Applying
While the Sapphire Reserve card can be well worth it for some, it can be a costly card for others. Potential cardholders should consider their typical travel expenses and how frequently they travel before applying.
How Much Will Be Spent on Food and Travel?
Chase makes it easy to earn the $300 annual statement credit for travel purchases. Most travel purchases qualify for the credit, and a $300 statement credit will cover more than half of the annual fee. Those who dine out or travel frequently will likely rack up enough points to offset the remaining $250.
However, those who don’t travel much might find earning enough points to justify the annual fee challenging.
Will Travel and Dining Be Booked Through the Chase Ultimate Rewards Portal?
Those who earn the most rewards points and get the most value for Chase rewards points use the Chase Ultimate Rewards portal to make travel and dining purchases. Those who do not intend or are unable to use the portal often will not get much for the card’s steep annual fee.
Can the Bonus Offer Be Reasonably Earned?
The Chase Sapphire Reserve’s introductory offer makes it an attractive card option and worth the annual fee for those who earn the bonus. According to Chase, those 60,000 bonus points are worth $900 toward travel booked through the Ultimate Rewards portal.
This is an all-or-nothing offer, so those who do not think they can meet the $4,000 spending threshold might consider another rewards card.
Are There Better Alternatives?
While there are few travel rewards cards quite as generous as the Chase Sapphire Reserve, many also do not have such a high annual fee. Anyone needing a travel rewards card should compare options, including rewards, perks and fees. Cardholders will do well to consider a few alternatives.
Chase Sapphire Preferred Card
The Chase Sapphire Preferred card is similar to the Chase Sapphire Reserve, but the annual fee is significantly lower at only .
The rewards are not as enticing, with the highest earned being 5x points per dollar, but most cardholders should easily earn enough rewards to cover the annual fee and then some. This card has a bonus offer of 60,000 points after spending $4,000 on purchases in the first three months from account opening.
Capital One Venture Rewards Card
The Capital One Venture Rewards card also has a $95 annual fee.
Cardholders earn unlimited two miles per dollar on every purchase and unlimited five miles per dollar on hotels and rental cars booked through Capital One Travel. The Capital One bonus offer is 75,000 bonus miles for spending $4,000 on purchases within the first three months from account opening.
Is the Chase Sapphire Reserve card worth it? It certainly can be for frequent travelers willing to make most travel purchases through the Chase Ultimate Rewards portal.
However, those who don’t travel or dine out enough to take advantage of the card’s 10x points to help offset the annual fee should consider other rewards or cash-back credit cards.
FAQHere are answers to common questions about the Chase Sapphire Reserve card.
- How much do you have to spend on the Chase Sapphire Reserve to make it worth it?
- Cardholders who spend enough on qualifying travel purchases each year earn a $300 statement credit that covers more than half of the $550 annual fee. Beyond that, making the card worthwhile depends on the amount a cardholder spends. As purchases earn anywhere from one point to 10x points per dollar spent, whether the card is worth using depends on the type of purchases made with it.
- What card is better than the Chase Sapphire Reserve?
- Some consider the Chase Sapphire Preferred card a better option than the Chase Sapphire Reserve because the annual fee is only $95 compared to the Reserve's $550 annual fee. However, Chase Preferred rewards are less significant than Chase Reserve rewards.
- How much are 50,000 Chase Sapphire Reserve rewards points worth?
- Typically, the value of 50,000 Chase points will fall between $500 and $750, with each point worth $0.01 to $0.015. The value of Chase Sapphire Reserve rewards points depends on how a cardholder uses them. Points used for travel through the Chase Ultimate Rewards portal are worth the most.
Information is accurate as of Aug. 19, 2022.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
The information related to the Chase Sapphire Reserve and Chase Sapphire Preferred cards was collected by GOBankingRates and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see the issuer’s website for current information. GOBankingRates does not receive commission for this product.