Chase Sapphire Reserve review – Now earning 5x in popular categories

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The Chase Sapphire Reserve® continues to be one of the most enticing credit cards on the market. We think this is one of the best credit cards for travel.

The Chase Sapphire Reserve sign-up bonus is worth at least $750 in travel when redeemed through Chase Ultimate Rewards. You also get a $300 annual credit for travel purchases every cardmember anniversary. That’s $1,050 in value in the first year, which doesn’t include other money-saving perks. Folks looking to unlock travel benefits can do really well with the Chase Sapphire Reserve. Here’s our full review of the card, so you can decide if it’s a good fit for your wallet.

Earn Chase Ultimate Rewards points to save money on travel and get a ton of valuable perks. (Photo by Wyatt Smith)

Chase Sapphire Reserve review

Current bonus

When you sign up for the Chase Sapphire Reserve card, you’ll earn 50,000 Chase Ultimate Rewards points after you spend $4,000 on purchases in the first three months from account opening (and meeting minimum spend is easier than you might think).

Chase points are worth 1.5 cents each with the Chase Sapphire Reserve when you use them to pay for travel booked through the Chase Travel Portal. Because of this, the 50,000-point bonus is worth at least $750 in travel.

But these points are worth potentially much more when you redeem them through Chase transfer partnersFor example, you can book a round-trip coach flight from West Coast cities to Hawaii on Alaska Airlines by transferring 24,000 points to Singapore Airlines. That means this bonus is enough to get you two round-trip tickets to Hawaii, which could easily cost $1,000+ otherwise.

You can also book stunning premium cabins, like Singapore Airlines first-class suites, by transferring your points to Singapore Airlines.

TOULOUSE, FRANCE - OCTOBER 15: A general view of inside the first class twin cabin section of the new Singapre Airlines Airbus A380 on October 15, 2007 in Toulouse, France. The first A380, the world's biggest passenger jet, is set to enter commercial service when delivered to Singapore Airlines' fleet, following a troubled production and an 18 month delay. (Photo by Pascal Parrot/Getty Images)
You can fly between New York and Frankfurt in Singapore Airlines’ first-class suites by transferring 86,000 Chase points to Singapore Airlines. (Photo by Pascal Parrot/Getty Images)

Benefits and perks of the Chase Sapphire Reserve

Earning rates

If you want to collect Chase Ultimate Rewards points quickly, spending with the Chase Sapphire Reserve is one of the best ways. You’ll earn:

  • 5 Chase points per dollar on groceries on up to $1,500 in spending per month per account (May 1 through June 30, 2020)
  • DoorDash
  • 5 Chase points per dollar on up to $500 in cumulative purchases with DoorDash and Tock (through May 31, 2020)
  • 3 Chase points per dollar on travel
  • 3 Chase points per dollar on dining
  • 1 Chase point for everything else.

Again, Chase considers a wide range of purchases to be travel, from airfare to hotels to passenger trains to limousines to timeshares to parking lots and garages.

Chase Pay Yourself Back

Between May 31 and September 30, 2020, Chase Sapphire Reserve cardmembers can redeem points to offset purchases at home improvement stores, grocery stores, and dining at a rate of 1.5 cents each. You’ll be reimbursed in the form of a statement credit.

This is a 50% higher return over simply cashing your points out, which gives you a value of 1 cent per point. You have 90 days from the time each eligible transaction posts to erase it with your Chase points. Read our full guide on Chase Pay Yourself Back to learn how to use it, as well as its benefits and downfalls.

Annual $300 travel credit

One of the best perks of the Chase Sapphire Reserve is the annual $300 travel credit. Every cardmember year, you’ll get the first $300 spent on travel automatically reimbursed as a statement credit. Chase has a broad definition of travel that triggers this statement credit:

  • Hotels
  • Airfare
  • Rental cars
  • Cruises
  • Tolls
  • Parking
  • Uber
  • Timeshares
  • Campgrounds
  • Trains
  • Buses
  • Ferries

There are two things to note about the travel credit. The first is that although you normally earn 3 Chase Ultimate Rewards points per dollar on travel purchases, the $300 in travel that is reimbursed as part of the credit won’t earn any points.

The second is that some charges which seem to be travel-related might not qualify for the travel credit. Some vacation rentals fall into this category because they might code as a real estate transaction instead of travel. Many people report that Airbnb stays do count as travel, but sometimes rentals through VBRO or HomeAway don’t end up coding that way.

If you spend at least $300 per year on travel (most people I know certainly do), this travel credit effectively lowers the annual fee to $250 per year. And this doesn’t include the card’s other perks.

DoorDash credits

Sapphire Reserve cardholders are eligible for up to two years of DoorDash DashPass membership. DashPass normally costs $9.99/month and comes with lower service fees and free delivery on orders of $12+. In addition, the Reserve is also getting up to $120 in DoorDash credits, but it’s divided up over two years — you’ll get $60 in credits in 2020 and $60 in credits in 2021. These credits will automatically be applied to eligible purchases and you’ll have access to the full $60, it won’t be divided out month-by-month

Free Lyft Pink membership

Cardholders will receive a complimentary Lyft Pink membership. Lyft Pink is a membership that normally costs $19.99/month and comes with perks, like:

  • 15% off all rides
  • Three free cancellations a month (if you rebook within 15 minutes)
  • Three free bike/scooter rides per month
  • Priority airport pickups
  • Waived lost and found fees
  • “Surprise offers” — including seasonal discounts and exclusive savings

Normally the membership costs $240. So that’s a great perk if you can actually utilize the service.

Bonus points on Lyft rides

Chase Sapphire Reserve cardholders will earn 10x Chase Ultimate Rewards points on Lyft rides. A bonus like this can really add up quickly if you use rideshare services for a majority of your transportation.

Airport lounge access

The Chase Sapphire Reserve makes your airport experience beyond the security line more tolerable as well. It’s one of the best credit cards with lounge access, providing you a premium Priority Pass membership more valuable than even the most expensive Priority Pass membership you can purchase. Lounges often come with complimentary alcohol and food, as well as plenty of outlets and fast Wi-Fi.

The best Priority Pass membership you can buy costs $429 per year and gives you unlimited access to the 1,000+ lounges in the network. But you’ll need to pay $32 for each guest you bring along. With the Chase Sapphire Reserve’s Priority Pass membership, you get the same unlimited lounge access for yourself and two guests. If you need to bring a third person, it’s only $27 extra. If you travel with a partner and child, that’s an easy $64 in savings per visit over purchasing a membership.

There are a growing number of airport restaurants that accept your Priority Pass membership. Right now, there are  about 30 in the U.S. alone. The rules vary slightly with the location, but in general, you show a same-day boarding pass and proof of your Priority Pass membership and you’ll get between $28 and $32 off your bill per person for up to two people. That’s an easy $56 to $64 free meal.

I visited Bobby Vans Steakhouse in New York JFK and received a $28 discount. (Photo by Joseph Hostetler)

TSA PreCheck or Global Entry credit

Being stuck in the airport security line can really muck up a trip. Instead of dreading the airport experience, enroll in TSA PreCheck or Global Entry (which comes with TSA PreCheck). Once you’re approved, you can use an expedited security line (if your airport has one) when you’re flying with any of the 60+ participating airlines. Plus, you won’t have to remove your shoes, belt or laptop. It makes airport security a breeze.

It saved me from missing a flight and having to purchase a ticket for almost $600 for another flight. You can’t beat that.

Normally, TSA PreCheck costs $85 and Global Entry costs $100, but if you pay either of those fees with your Chase Sapphire Reserve, the fee will be reimbursed up to $100. Both are valid for five years.

You can use this credit once every four years. Every time you need to renew your TSA PreCheck or Global Entry, you’ll receive the up to $100 statement credit as long as you keep your Chase Sapphire Reserve.

No foreign transaction fees

The Chase Sapphire Reserve is great to use while traveling because it doesn’t incur absurd foreign transaction fees. Some credit cards will charge you 3% just for swiping outside the U.S.

Primary rental car insurance

The rental car insurance that comes with Chase Sapphire Reserve is primary coverage. That means you can decline the rental company’s collision damage waiver and the card will cover you for theft or damage. That’s a savings of easily $15+ per day.

Trip delay insurance

Trip delay insurance is one of those perks that’s easy to overlook until you need it. Just last year, I was reimbursed for more than $500 in expenses from two separate trip delay insurance claims with my Chase Sapphire Preferred Card .

The trip delay insurance for both of these cards covers expenses you incur as the result of an eligible trip delay, including:

  • Ground transportation (rental, taxi, etc.)
  • Lodging
  • Food
  • Incidentals (toiletries, clothing, medications, etc.)

Read our post on how to file Chase trip delay insurance claims.

How to redeem points

With the Sapphire Reserve, you earn what we consider to be the most useful credit card points (read our Chase Ultimate Rewards review). Chase points are flexible, which means you can use them for travel or redeem them for cash back. As mentioned before, the most effective use of Chase points is to transfer them directly to Chase’s terrific travel partners. For those with other Chase Ultimate Rewards points-earning credit cards, you can combine points to your Sapphire Reserve account before transferring them directly to an airline or hotel partner.

Below are a couple ways to redeem 50,000 Chase Ultimate Rewards points — and be sure to check out our post of the best ways to use Chase points.

Book airfare, hotels and rental cars at the Chase Travel Portal ($750 worth of travel)

Booking through Chase Travel Portal, you can reserve flights, hotels and rental cars for less with points linked to your Chase Sapphire Reserve. That’s because they’re worth 1.5 cents each when you redeem for travel through the Chase Travel Portal. You’ll get $750 worth of travel with the 50,000-point Chase Sapphire Reserve sign-up bonus (50,000 points x 1.5 cents each).

Perhaps the best part about redeeming your points this way is that you never have to worry about blackout dates or finding award seats. And you’ll still earn miles for your flight. Prices are usually the same as what you’ll find through online travel agencies.

Chase Sapphire Reserve Review

When redeeming points through the Chase Travel Portal, you can book hotel stays at boutique hotels or airfare on budget airlines.

Hyatt award stay ($900+ in value)

We at MMS love transferring Chase Ultimate Rewards points to Hyatt to book fantastic hotel stays.

You can book an award night for as few as 5,000 Hyatt points. This means the Chase Sapphire Reserve could get you up to 10 nights at Hyatt hotels around the world. Or you can splurge for a special occasion and use more points to stay at a higher category Hyatt hotel, which might be very expensive if you paid cash.

Enjoy a wide food selection, top-shelf alcohol and gorgeous views by transferring Chase Ultimate Rewards points to Hyatt to stay at all-inclusive hotels like the Hyatt Zilara Cancun. (Photo by Joseph Hostetler)

Hyatt has a no-blackout-date policy, which makes it easier to use points to book award stays. You can even use points to stay at top-rated all-inclusive Hyatt hotels, like Hyatt Zilara Cancun, which several of us on the team recommend. Rooms at this hotel can cost $450+ per night, but you can book the same room for 25,000 Hyatt points. The Chase Sapphire Reserve sign-up bonus is enough for two nights at this hotel.

Is the annual fee worth it?

This is a fair question because the Chase Sapphire Reserve comes with a $550 annual fee, which can be intimidating. The card has some of the best travel credit card perks of any premium rewards credit card, beginning with the annual $300 travel credit.

As long as you get $250 in value each year from the card’s other perks, the Chase Sapphire Reserve is worth it. As you can see from the above benefits, that’s not hard to do for some. Especially if you regularly use rideshare and meal delivery services.

Who is this card for?

The Chase Sapphire Reserve is best for those who travel relatively frequently. With protection against canceled and delayed flights, access to 1,000+ airport lounges and a $100 Global Entry credit, those who travel internationally each year will enjoy this card. There are some important rules to consider first.

If you’ve opened five or more cards in the past 24 months from any bank (excluding Chase business cards and certain other small-business cards), you will not be approved for Chase Sapphire Reserve. If you’re just over the “5/24 limit,” it might be worth waiting to apply for other cards until after you’re eligible to get the Sapphire Reserve.

Also note that Chase has restrictions for their Sapphire-branded credit cards:

  • You no longer can have more than one Sapphire-branded credit card. For example, if you currently have the Chase Sapphire Preferred Card, you won’t be eligible for the Chase Sapphire Reserve card.
  • If you close a Chase Sapphire card account, you won’t be eligible for any Sapphire-branded credit cards if you’ve earned the sign-up bonus on a Sapphire-branded product within the last 48 months.

Insider secrets

This card has a superpower unique among Chase cards, making it the best Chase credit card available.

As mentioned before, the points you earn with this card are worth 1.5 cents each through the Chase Travel Portal. However, if you have other Chase Ultimate Rewards points-earning cards, you can transfer the Chase points you earn from those cards to the Chase Sapphire Reserve and they are instantly worth 1.5 cents each through the Chase Portal.

For example, if you have the Ink Business Preferred® Credit Card, you can redeem your Chase points through the Chase Portal for 1.25 cents each. But if you open the Chase Sapphire Reserve, you can transfer all the points you accrue with the Ink Business Preferred to your new card and they’ll instantly be worth 1.5 cents each.

This applies to no-annual-fee credit cards as well, like the Ink Business Cash℠ Credit Card or Ink Business Unlimited℠ Credit Card. That’s a huge deal.

The information for the Chase Ink Business Preferred, Ink Business Cash and Ink Business Unlimited has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.

Bottom line

There are lots of reasons the Chase Sapphire Reserve is such a popular premium travel rewards credit card.

When you open the Chase Sapphire Reserve card, you’ll earn 50,000 Chase Ultimate Rewards points after meeting minimum spending requirements. You can use the sign-up bonus points to get $750 worth of travel by booking airfare, hotels or rental cars through the Chase Travel PortalBut you can potentially get much more value by transferring points to Chase travel partners, like Hyatt or Singapore Airlines.

The Chase Sapphire Reserve card comes with a $300 annual credit for travel purchases every cardmember anniversary, which effectively reduces the annual fee to $250 ($550 annual fee minus $300 annual travel credit). It’s easy to accumulate points with this card because you earn 3 points per dollar for travel and dining purchases.

You can apply for the Chase Sapphire Reserve card here.

Let me know which of the Chase Sapphire Reserve benefits are your favorite. And subscribe to our newsletter for more credit card reviews like this delivered to your inbox once per day!

Joseph Hostetler is a full-time writer for Million Mile Secrets, covering miles and points tips and tricks, as well as helpful travel-related news and deals.

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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21 days ago

Just moved to Singapore and we’ve had issues with using this card with a number of commonly used online grocery, food delivery and car hauling apps. Ironically it seems to be happening because vendors here have additional security verification steps. Chase thinks it’s a Visa verification issue. I’m hopeful to clear this up but we’re paying a lot for the reserve card and it’s not all that useful in a very advanced market like Singapore. So beware.

John Nellis
3 months ago

I have 500,000 Chase points through my Ink Preferred card. If I get the Sapphire Reserve can I transfer the Ink points to my new Sapphire card picking up an additional 125,000 points?

5 months ago

I am very disappointed! I opted to use instead of my American Express due to its great travel insurance. They have a “Military Orders” clause for their insurance. Upon receiving orders from Secretary of Defense that we were not allowed travel, I submitted a claim as well as appropriate documentation. Very promptly, the claim was denied. This claim has been resubmitted. Once again notified that claim is closed.
Way to support our military members!

8 months ago

Since the signup bonus for Preferred is 60k after you spend $4k, is it better to get this card first to get the promo bonus (vs. 50k on the same $4k spend for Reserve) and then call Chase to upgrade to the Reserve Card? Will the 60k point transfer 1:1 and capitalize on the higher 1.5cents value/point of the Reserve?

I’m looking to get one of the Sapphire Cards and wonder if this path is a good option. Half of the initial expenses to get to the $4k in 3 months will be on travel (airfare and timeshare) which I guess will qualify for 2x or 3x points depending on the card, however, the penalty of not getting the Reserve is only 1x (in my case 2k points) so the 10k signup bonus points (8k accounted for the penalty) are still more attractive if this path is valid and can easily upgrade to the Reserve thereafter. Suggestions?

Reply to  Joaquin
7 months ago

You can go that route but keep in mind that you will have to wait a year before you can upgrade to the reserve. After you upgrade the points will follow you.

Brian Ellerby
1 year ago

Most of the cards these days offer primary or secondary car rental insurance. However, almost all rental companies now bundle insurance into the cost of renting a car and will not give a price without insurance. There is normally a large deductable associated with this insurance, would this be covered by the chase card insurance.

Andrew Wan
Reply to  Brian Ellerby
9 months ago

I have to agree with Ted – I’ve never seen a case where a rental company refuses to quote a price if you opt-out of the insurance. If that were to happen to me, I’d simply ask to speak to someone else or hang up and call again.

Reply to  Brian Ellerby
9 months ago

I have never seen what you described in the US or Canada. Read the fine print, when you make a claim you also put the charges for any costs on the chase sapphire reserve card so there isn’t any delay for the rental company getting refunded. I have never seen a case where they are bundling the insurance or will not give a price without the insurance. I book with Sixt, Hertz, Avis and Enterprise.

1 year ago

Will the annual travel credit of $300 reset on January 1 or on the card anniversary?

Andrew Wan
Reply to  John
1 year ago

For new cardmembers, it resets on your card anniversary.

1 year ago

Primary insurance coverage claim is nonsense in the US car rental. When I showed Chase Reserve card and explained them it covers primary insurance, they were laughing at me and waving same Chase card he has. Reason why they decline is Chase dragging claim for months(+6) so they want your other car insurance info so that they can charge right away. Then somehow you have to figure it out between Chase and your insurance company.

Andrew Wan
Reply to  CP
9 months ago

I have to agree with Ted here as well. There are many, many, many documented cases in online forums (and also with our own team members here at Million Mile Secrets) who have successfully filed claims and received a reimbursement check quite promptly.

Don’t be scared by the person at the counter. Rental car companies make more profit when they’re able to sell you their insurance so it should really come as no surprise that they’d be trying to scare you into thinking your Chase card’s insurance doesn’t work.

Reply to  CP
9 months ago

Read the fine print, when you make a claim you also put the charges for any costs on the chase sapphire reserve card so there isn’t any delay for the rental company getting refunded. I have never seen a case where they are bundling the insurance or will not give a price without the insurance. I book with Sixt, Hertz, Avis and Enterprise. Don’t be scared by the person at the counter.

1 year ago

I agree. This is the best card for those who enjoy travelling. I add my son as his bday gift, just for the lounge privilege, he loves it. Lounge privilege is the top benefit for me, can’t tell how many times I was glad I got stranded for up to 6 hours with this card. I could just wait in lounge instead. I no longer use AAA nor purchase travel insurance anymore. The travel insurance reimbursement is more complicated than the one I purchased seperately – but after 3 months of going back and forth, it finally reimbursed my husband’s as well.

Andrew Wan
Reply to  Mary
1 year ago

I don’t travel anywhere without this card. And airport lounge access has been amazing for me. Nothing like getting away from the hustle and bustle and even enjoying some free snacks, food, and drinks.

1 year ago

I got the AU card for each of my children as college graduation gifts specifically for the lounge membership. They travel a lot and live in different parts of the country than I do so they’re often traveling separate from me. It’s come in handy so far. The only regret ..I should have done it earlier.

Please note: their renewal coincides with your annual renewal date, so if your card renews in January and you add them in March, they lose 2 months. You don’t get a 2 month credit and their membership is only good while you’re still a member yourself, so if you don’t renew the following January, their card expires in January also, essentially only getting 10 months’ of benefits instead of 12.

Andrew Wan
Reply to  Caroline
1 year ago

Very nice! Being frequent travelers, I’m sure they love the lounge access.

Mike Kory
1 year ago

Just applied for Sapphire Reserve and was rejected because “You earned a new account bonus on a Sapphire product in the last 48 months” (letter dated October 11, 2018)
I did get 50k bonus points on my Sapphire Preferred Card in May 2016. (account closed)
Was the 24 months rule changed into 48 months recently?