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
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.
Hi Jay!
Here’s a link to one of our articles that has a list of items that qualify for the $300 credit:
https://millionmilesecrets.com/guides/chase-sapphire-reserve-annual-travel-credit/
Basically, anything that falls under the travel category which Chase defines as: airlines, hotels, motels, timeshares, car rental agencies, cruise lines,travel agencies, discount travel sites, campgrounds and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages.
$300 Airline travel credit works? So I can book a flight on delta,american etc and it’ll reimburse me? That is so worth it, they’re basically asking me to fly.
That’s right! The credit works for travel purchases like airfare and hotels 🙂
So pay an annual fee and get $300 back. How is that a big deal?
Instead save the money and invest.
Hi Mike!
The Chase Sapphire Reserve has a lot of great perks like airport lounge access, travel insurance, primary rental car coverage, and more. You can read more about the perks on our review of the card:
https://millionmilesecrets.com/reviews/chase-sapphire-reserve/
And since the card offers a $300 annual travel credit, you’re essentially receiving a ton of benefits for an effective annual fee of $150. Depending on your travel habits, that could be well worth the fee!
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!