Chase Sapphire Reserve annual travel credit — now even easier to use
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My Chase Sapphire Reserve card definitely gets the most use among any of the travel credit cards in my wallet. I quickly accumulate points because the card offers 3 Chase Ultimate Rewards points per dollar for travel & dining purchases.
The card is perhaps the best travel credit card in existence. Last year, using the Chase Sapphire Reserve for everyday purchases helped me to earn more than 80,000 Chase Ultimate Rewards points (worth at least $1,200 in travel). I’ll likely use these points to get at least $3,000 worth of luxurious hotel stays or first class flights.
One of my favorite Chase Sapphire Reserve perks is the card’s $300 annual credit for travel purchases. This credit is so straightforward. When you use your card for any travel purchase (like Airbnb, airfare, hotels, Lyft, Uber, and many others), you will automatically be reimbursed, until you’ve spent a total of $300 on travel. In other words, Chase will pay for the first $300 in travel you spend each cardmember year with your card.
And due to COVID-19, Chase has recognized that travel has nearly stopped altogether. They’re making the card’s $300 travel credit useful for more than just travel in 2020! I’ll tell you about it.
Chase Sapphire Reserve up to $300 annual travel credit expanded
That’s right, you can now use your $300 annual credit for more than just travel. From June 1, 2020, through the end of the year, this credit will also reimburse you for purchases at gas stations and grocery stores. So even if you don’t step foot in a hotel or on a plane until next year, you’ll have no problem using your Chase credit.
I think the Chase Sapphire Reserve is the #1 premium travel credit card. When you apply for the card, you earn 50,000 Chase Ultimate Rewards points after spending $4,000 on purchases in the first three months from account opening.
Our favorite way to use Chase points is to transfer them directly to Chase transfer partners, which include Hyatt, Marriott, Singapore Airlines, Southwest, and United Airlines. Based on our estimation of Chase points value, you should have no problem getting an average of 2 cents per point when transferring.
However, you can also redeem your points for travel through the Chase Travel Portal at a rate of 1.5 cents each. And from May 31 to September 30, 2020, you can use the new Pay Yourself Back feature to give yourself a statement credit to offset purchases at dining establishments, grocery stores and home improvement stores at a rate of 1.5 cents each.
Chase Sapphire Reserve cardholders also get:
- 3 Chase points per dollar on travel (again, excluding $300 travel credit) and dining worldwide
- 1 Chase point per dollar on all other purchases
- Up to $100 statement credit for Global Entry or TSA PreCheck
- Free Priority Pass Select membership for access to airport lounges
- No foreign transaction fees
- Rental car elite status with National Car Rental and Avis
The card normally has a $550 annual fee. However, you’ll only pay $450 in 2020:
- If you happen to be renewing your annual fee by July 1, 2020, Chase will give you a $100 statement credit to help reduce the cost due to the coronavirus
- Chase will only charge a $450 annual fee to anyone renewing their card between July 2 and December 31, 2020
To me, this credit makes paying this card’s annual fee a no-brainer. This year I’m effectively paying $150 ($450 annual fee – $300 travel credit). And the card gets me access to 3x bonus categories, along with amazing trip protection benefits — not to mention airport lounge access at 1,300+ lounges around the world.
If you shy away from premium credit cards with high annual fees, you might consider the Chase Sapphire Preferred Card instead, which we deem as hands-down the best credit card for beginners.
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Featured photo by Joseph Hostetler/Million Mile Secrets
Chase Sapphire Reserve®
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®
$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✓®
One Year Complimentary Lyft Pink ($199 minimum value). Complimentary DashPass subscription from DoorDash after activating by 12/31/21.
Intro APR on purchases
N/A
Regular APR
16.99%-23.99% Variable
Annual Fee
$550
Balance Transfer Fee
Either $5 or 5% of the amount of each balance transfer, whichever is greater
Rates & Fees
Other
MORE INFO
Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)
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Join the Discussion!
Does a purchase of flights through the Chase Ultimate Rewards portal also count toward the $300 travel credit?
Hi, I just got approved and haven’t actually received the physical card yet. I liked your article but I was hoping you would list what you used the card on that gave you the $300 credit.
For example what are the smaller charges I see on the list above that qualified. I saw one thing that said “gas” / gas stations” qualifies as travel but I have not seen that again.
I was searching for maybe unknown or unusual things that qualify for the travel credit that are not on the site list. A lot of sites, including this one say “many other things” qualify, but I can’t find a list of those many other things… thank you for anything you can tell me.
So pay an annual fee and get $300 back. How is that a big deal?
Instead save the money and invest.
Hi Mike — having this card allows me to invest a lot more than I could without it. The 80,000 points I earned last year on purchases helped to cover travel expenses, including some last-minute unplanned trips. Not having to pay for travel = more money for other expenses or investment opportunities.
Just made final payment on our 18 day cruise cruise – got the $300 travel credit, saving on travel insurance, and will earn over 33000 UR points. Card has saved us a boatload (pun intended) and earned us a lot of points in just over 2 years.
An 18 day cruise sounds awesome! Glad to hear you’re getting a lot of value from your Sapphire Reserve!
and don’t forget the value of the Travel insurance benefit. I recently broke my arm- was unable to travel . I was reimbursed $500 of my non refundable hotel package.
Oh wow — sorry to hear about your arm, but good to see the card benefit came in handy. Hope you’re feeling better!
I’m also on the calendar year cycle, and my 2019 credits started appearing in December, on travel charges that will show on my January statement.
Nice! Yes, even on a cardmember year, the travel credit perk is still a great deal.
I’ve been interested in this card for a while now, but I already have a Chase Sapphire Preferred card (10+ years) and therefore don’t qualify for the 50,000 point sign-up bonus. Too bad, because if you combine the lounge access and travel credit with the free bag and priority boarding on the Citi AAdvantage MC, and you’ve got pretty much the ideal setup!
Sounds great!