Can You Get a Refund of the Chase Sapphire Reserve Annual Fee?
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Update: One or more card offers in this post are no longer available. Check our Hot Deals for the latest offers.The Chase Sapphire Reserve has fantastic benefits including a 100,000 point sign-up bonus, $300 annual travel credit, and 3X points bonus on travel and dining purchases. But there’s also a $450 annual fee that’s NOT waived the first year.
You’ll pay the annual fee on your first monthly billing statement. But can you get a Chase Sapphire Reserve annual fee refund?

Thanks to Million Mile Secrets reader Lawrence for the post suggestion!
I’ll explain how the Sapphire Reserve annual fee works.
Why You Should NOT Request a Chase Sapphire Reserve Annual Fee Refund
Link: Chase Sapphire Reserve
Link: Is the Sapphire Reserve Worth the Annual Fee?
Link: When Should You Cancel Your Credit Cards?
When you open the Chase Sapphire Reserve card, you’ll earn 100,000 Chase Ultimate Rewards points after you spend $4,000 on purchases in the first 3 months from account opening. You’ll also get:
- 3X Chase Ultimate Rewards points on travel & dining
- $300 annual credit for travel purchases such as airfare and hotels
- $100 statement credit for Global Entry
- Priority Pass Select for access to airport lounges
- No foreign transaction fees
You’ll pay the card’s $450 annual fee on the first billing statement.
I called Chase and you can get the annual fee refunded if you cancel your card within 60 days of the fee being charged. But I wouldn’t recommend doing this. Because you’ll likely lose any Chase Ultimate Rewards points you earned.
Plus, I think the Sapphire Reserve is worth the annual fee! Because you can earn the annual fee back (and then some) if you use the $300 annual travel credit twice in the first year you have the card. You’ll also get lounge access (worth $400), travel protection, car rental insurance, and much more!
Still Want to Cancel?
If you decide to cancel soon after getting the new card, Chase could think you’re abusing their rewards program. This means you might not get approved for any Chase cards in the future.
If you decide the card’s perks aren’t worth the annual fee, you can call Chase to cancel the card within 60 days of the fee being charged. But Chase will likely remove any Chase Ultimate Rewards points you earned.
It’s possible Chase could allow you to downgrade to a no annual fee card. But I couldn’t confirm this with a Chase representative because the Sapphire Reserve is still so new.
I typically recommend keeping a card open ~8 to ~10 months. Then, you can decide if the card’s perks are worth the annual fee. This helps establish a good relationship with the banks.
Chase Sapphire Preferred® Card
Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
Intro APR on purchases
N/A
Regular APR
15.99%-22.99% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Rates & Fees
Other
MORE INFO
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