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The Sapphire Reserve has a welcome bonus offer of 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. That's worth $900 in travel booked through Chase, and potentially $1,080 when you transfer rewards to airline and hotel partners, based on Insider's points and miles valuations. But if you prefer cash back, you can always redeem your rewards for a statement credit at a rate of 1 cent per point.
Chase Sapphire Reserve Fees
The Chase Sapphire Reserve is a premium credit card, and the $550 annual fee reflects that, but it's worth it if you can take advantage of the card's many benefits. Like virtually every other premium travel card, it doesn't charge foreign transaction fees.
You'll want to make sure you can pay your balance in full each month to avoid interest charges (currently a 22.49% - 29.49% Variable APR on purchases). As with most other cards, there are fees for balance transfers, cash advances, and late or returned payments.
Sapphire Reserve fees:
- Annual fee: $550
- APR: 22.49% - 29.49% Variable
- Intro APR: N/A
- Balance transfer fee: Either $5 or 5% of the amount of each transfer, whichever is greater
- Foreign transaction fee: None
- Cash advance fee: Either $10 or 5% of the amount of each transaction, whichever is greater
Chase Sapphire Reserve Review: Is It Worth It for You?
On top of a generous welcome bonus and earning rates, the Sapphire Reserve comes with up to $300 per year in statement credits toward eligible travel booked with your card, Priority Pass airport lounge and Chase Sapphire Lounge access, up to $100 credit toward the Global Entry, TSA PreCheck, or NEXUS application fee, and top-notch travel and purchase coverage.
Newer perks that can help offset the annual fee include $5 per month in DoorDash in-app credit (through December 2024) and up to $15 per month in Instacart credits (through July 2024). These two benefits combined can offset the annual fee by up to $240 per year.
Moreover, the card now offers cardholders two years of complimentary Lyft Pink All Access membership, the most premium Lyft membership option (worth $199 per year), and 50% off the third year of membership. This gets you ride discounts, priority pickup upgrades, unlimited bike rides, cancellation forgiveness, and more.
If you don't want to pay the card's high annual fee, the Chase Sapphire Preferred® Card is a good alternative, at $95 a year. It earns bonus points in some of the same categories as the Sapphire Reserve and it offers most of the same travel protections. Plus, it offers a welcome bonus of 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening (worth about $1,080 in travel). Read our full breakdown of the Chase Sapphire Preferred vs. Chase Sapphire Reserve.
We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
Sapphire Reserve Rewards
Chase Sapphire Reserve bonus
The Chase Sapphire Reserve® currently offers a welcome bonus of 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. Depending on how you redeem your rewards, you could get over $1,000 in travel from this offer.
- Around $1,080 in travel when you transfer points to airline and hotel partners (based on Insider's valuation of Chase points at 1.8 cents apiece on average)
- $900 in travel when you redeem points through the Chase travel portal
- $600 in cash back or gift cards
How to earn points with the Chase Sapphire Reserve
The Chase Sapphire Reserve has one of the most rewarding earning structures of any travel credit card. Cardholders earn:
- 10x points on Lyft rides through March 2025
- 10x points on Chase Dining purchases through Chase Ultimate Rewards®
- 10x points on hotel stays and car rentals purchased through Chase Ultimate Rewards
- 5x points on air travel purchased through Chase Ultimate Rewards
- 3x points on other travel (after earning the $300 travel credit) and dining
- 1 point per dollar on everything else
If you're not sure if a purchase qualifies to earn bonus points, read our guide to what counts toward each of the Chase Sapphire categories to learn more about any restrictions.
How to use points from the Chase Sapphire Reserve
The Chase Sapphire Reserve earns Chase Ultimate Rewards® points, which you can redeem for cash back, gift cards, or statement credits, with each point worth 1 cent.
You can also use them to purchase travel through the Chase Ultimate Rewards Travel Portal, which works just like any other online travel agency. When you use points that way, you get a 50% bonus — in other words, each point will be worth 1.5 cents instead.
Finally, you can also transfer points to Chase's airline and hotel partners to book award travel — transferring points is generally the most valuable way to use them.
It's also worth noting if you have other Chase Ultimate Rewards cards, you can transfer points from those cards into your Chase Sapphire Reserve account — then all of your points will be worth 1.5 cents toward travel booked through Chase and Pay Yourself Back. This includes the Ink Business Preferred® Credit Card , Ink Business Unlimited® Credit Card, Ink Business Cash® Credit Card, Chase Freedom Unlimited®, and Chase Freedom Flex℠ .
Plus, you'll unlock the ability to transfer those points to Chase's airline and hotel partners — an option that's not available if you only have a no-annual-fee Chase Ultimate Rewards card.
Chase Sapphire Reserve Benefits
Up to $300 travel credit
Each cardmember year (meaning every 12 months starting the month you open the card), the Sapphire Reserve offers up to $300 in credit toward travel purchases. The credit will be applied to the first $300 worth of purchases you make that year in the travel category, including things like subways, taxis, ridesharing, and parking, as well as hotels, airfare, and cruises.
When you subtract the travel credit, the Sapphire Reserve annual fee is effectively $250.
DoorDash food delivery
Chase was clearly feeling the pressure from updates to American Express cards like The Platinum Card® from American Express, American Express® Gold Card, and American Express® Green Card — which have all added benefits including statement credits over the last few years.
Sapphire Reserve cardholders receive a complimentary DashPass membership (for waived delivery fees on qualifying orders) through December 31, 2024. Enrollment is required to receive the benefit, and in addition, you'll also get a $5 monthly DoorDash in-app credit. These credits expire every three months, so you can accumulate up to $15 in credit before you redeem.
Instacart benefits
If you're an Instacart customer, the Sapphire Reserve can save you money. Until July 31, 2024, cardholders can enroll for a complimentary year of Instacart+ membership, which comes with free delivery on orders of $35+ and reduced service fees. Be sure to set a calendar reminder to cancel if you don't intend to keep the membership beyond a year, because it will automatically renew for another year (currently $99) once your free year is up.
In addition, cardholders now receive up to $15 per month in statement credits toward Instacart purchases (activation required). If you maximize this benefit each month, it's worth up to $180 per year — which goes a long way to offset the annual fee.
Lyft Pink All Access membership
Cardholders can activate two years of complimentary Lyft Pink All Access membership, and 50% off the third year (activation required by December 31, 2024). Lyft's most premium membership (worth $199 per year) gets you excellent perks (like member-exclusive pricing, cancellation forgiveness, and more) just by activating the promo in the Lyft app.
Airport lounge access including new Chase Sapphire lounges
Having access to airport lounges is one of my favorite perks of the Sapphire Reserve. Lounges are comfortable, relaxing, and exclusive areas where you can enjoy comfortable seats, an internet connection, food and drinks — often complimentary — and sometimes other amenities.
The card comes with a Priority Pass Select membership. Priority Pass is a network of more than 1,300 airport lounges around the world, any of which you and two travel companions can access for free when you have your membership card.
With the Priority Pass membership provided by the Sapphire Reserve, you can bring in two guests. So whether you're traveling alone or with your family, you can enjoy free snacks, drinks, newspapers and magazines, showers, and more, all separate from the hustle and bustle of the main terminal.
Chase is also starting to unveil its own Chase Sapphire Lounges, the first of which is now open at Hong Kong International Airport (HKG). It boasts comfortable areas for relaxing and working, locally curated menus and art, signature cocktails, and other premium amenities.
Additionally, Chase will open new Chase Sapphire Lounges at New York-LaGuardia (LGA) Terminal B, Boston (BOS) Terminal B to C connector, San Diego (SAN), Phoenix (PHX), Las Vegas (LAS), Washington Dulles (IAD) Terminal A, Philadelphia (PHL) Terminal D/E connector, and another unknown airport. Specific information about opening dates isn't available yet, but these lounges are slated to begin opening in 2023.
Chase Sapphire Lounges will be available to Sapphire Reserve cardholders and all Priority Pass members.
Global Entry, TSA PreCheck, or NEXUS application fee credit
TSA PreCheck and Global Entry (which comes with PreCheck) are absolute musts for just about any traveler. Once you enroll, you can use special lanes to breeze through airport security — you won't have to remove shoes and light coats, and you can leave your laptop in your bag.
With Global Entry, you can use a fast lane when you return to the US from abroad, which makes clearing immigration and customs easy and quick. And with NEXUS, you get the privileges from both of these programs, plus expedited entry into Canada. The programs cost $78 (TSA PreCheck), $100 (Global Entry), or $50 (NEXUS), and Chase will provide a credit for that fee every four years (memberships are valid for five years).
Primary car rental insurance and rental elite status
The Sapphire Reserve offers primary rental car insurance when you use the card to pay for a rental car. Just decline the collision/damage/loss coverage offered by the rental agency and use the card to pay for the rental. Keep in mind you may still want to opt for the rental company's liability insurance.
When you have the card, you can also get complimentary elite status with Avis, National, and Silvercar rental agencies. The benefits vary a bit between the companies but generally include a car class upgrade, easy pick-up/drop-off, and more.
Discounts and perks with Avis, National, and Silvercar car rental agencies
Cardholders receive special privileges with Avis, National, and Silvercar car rentals. These include discounts, upgrades, savings on luxury and premium cars, and special promotions. To access these deals, visit the card benefits section of your online account and navigate to the "Special Car Rental Privileges" section to enroll.
Trip interruption/cancellation insurance
If you've paid for an eligible trip with the card and it's cut short or canceled for a covered reason like illness or severe weather, you can be reimbursed up to $10,000 per person and $20,000 per trip for pre-paid, non-refundable travel expenses.
Trip delay insurance
When you use your card to pay for your fare, the card's trip delay insurance can reimburse you up to $500 per ticket for hotel rooms, food, toiletries, clothes, or other reasonable expenses when your flight is delayed overnight or by six hours or more.
Baggage delay insurance
If you paid for your trip with the card and your bags are delayed for six hours or more, you could be reimbursed for essential purchases (like clothing and toiletries) up to $100 per day for up to five days.
Lost luggage reimbursement
If the airline damages or loses your bags, you and your immediate family members could be covered for up to $3,000 per passenger as long as you've paid for your tickets with the card.
Extended warranty
The Sapphire Reserve extends the time period of a US manufacturer's warranty on eligible items by an additional year, on warranties of three years or less when you pay with your card.
Purchase protection
If an eligible item you've bought with the Sapphire Reserve is damaged or stolen within 120 days of purchase, you could be eligible for up to $10,000 in reimbursement per claim, and up to $50,000 per account with the card's purchase protection.
Travel and emergency assistance services
If you're traveling away from home and run into problems, you can get help with medical and legal referrals or other emergency assistance. This service is free, but any third-party costs are your responsibility.
Travel accident insurance
When you pay for your air, bus, cruise, or train transportation with the Sapphire Reserve, you're eligible for accidental death or dismemberment coverage of up to $1,000,000.
Roadside assistance
Reserve cardholders can contact the roadside assistance hotline for help with a tow, jumpstart, tire change, locksmith, or gas. Coverage is for up to $50 per incident, up to four times per year.
Emergency evacuation and transportation
Cardholders and their immediate family members can access an emergency evacuation and transportation benefit, which can be a lifesaver if things go very wrong while traveling.
It offers up to $100,000 in coverage if you're injured or become critically ill during a covered trip of between five and 60 days, as long as you've charged a portion of the cost, or the entire cost of a covered trip to your account. The evacuation also has to be approved by Chase's benefits administrator in consultation with a licensed physician.
If you're hospitalized for more than eight days, this benefit will even pay the cost of an economy-class ticket to bring a friend or relative to your bedside.
Emergency medical and dental benefit
Another unique perk is an emergency medical and dental benefit, which supplements any existing medical coverage you have if you are injured or become ill during a trip of five to 60 days. There's a maximum benefit of $2,500 with a $50 deductible.
If you need to recover in a hotel, you can be covered for costs up to $75 per day, for up to five days.
Reserved by Sapphire restaurant benefit
Cardholders can access Reserved by Sapphire, a new opportunity to book hard-to-get reservations at some of the country's top restaurants.
These include Canlis in Seattle, Redbird in Los Angeles, SingleThread Farms in Healdsburg, California, Reverence in New York City, and One Off Hospitality in Chicago.
Gopuff credits
Chase has partnered with Gopuff to provide $10 per month in credits on select cards, including the Sapphire Reserve. When you add your card as the default payment method of your Gopuff app and make a qualifying purchase, you'll receive the credit on your statement a few days after the transaction.
Gopuff is a rapid delivery service that provides essentials like snacks, drinks, cleaning supplies, and personal care items. To use the Gopuff credit, there's a minimum order of $10 and a $3.95 fee per delivery. You can take advantage of the monthly credit through December 31, 2023.
How the Chase Sapphire Reserve Compares
This card is extremely valuable for travel, thanks to the flexible Chase Ultimate Rewards points it earns and benefits like Priority Pass airport lounge access and up to a $300 annual travel credit. It does charge a $550 annual fee, but if you can put its benefits to use, it could be the best premium credit card for you.
Sapphire Reserve vs Sapphire Preferred
If you're trying to decide between the Chase Sapphire Reserve® and Chase Sapphire Preferred® Card, you'll want to decide if each card's annual fee is justified based on your travel and spending habits. With an annual fee of $550, the Reserve is more suited to frequent travelers who can take advantage of perks like airport lounge access and a Global Entry, TSA PreCheck, or NEXUS credit.
If that annual fee is too rich for your blood, the Chase Sapphire Preferred® Card is probably a better pick. With a $95 annual fee, it comes with different statement credits, no airport lounge access, and slightly weaker travel protections — but it's still a strong earner.
Here's our comparison of the Chase Sapphire Preferred and Reserve for a deeper dive into the differences.
Sapphire Reserve vs Venture X
These two premium credit cards have a lot in common, with the Capital One Venture X Rewards Credit Card also offering Priority Pass airport lounge access, an annual travel credit, a Global Entry/TSA PreCheck application fee credit, and excellent travel insurance. But where the card really shines is its relatively low (and easy to justify) annual fee of just $395 per year.
Between the Venture X's annual travel credit and a 10,000-mile bonus each account anniversary, you can easily offset its entire annual fee. However, Capital One's transfer partners aren't as useful as Chase's for the average traveler, so depending on your award preferences, the Chase Sapphire Reserve® could still be a better fit.
Read our comparison of the Capital One Venture X and Chase Sapphire Reserve if you're trying to decide between these cards.
Sapphire Reserve vs Amex Platinum
The Platinum Card® from American Express is the iconic luxury travel card, with a whopping $695 annual fee. That's enough to put off many would-be applicants, but the card is actually profitable for those who can use its statement credits and benefits (although you'll have to jump through some hoops). You'll also want to consider the American Express Membership Rewards transfer partners to decide if they're more useful for your travel style.
Compared to the Chase Sapphire Reserve®, the Amex Platinum Card requires a lot more effort to maximize, but it can be much more rewarding. Here's our Chase Sapphire Reserve vs Amex Platinum card comparison for a closer look at the details.
Sapphire Reserve vs Amex Gold
The American Express® Gold Card is another premium card, but it's geared more toward foodies, with strong earning rates at U.S. supermarkets and at restaurants worldwide. It also comes with monthly statement credits toward participating restaurants and delivery services (up to $120 per year) that you can enroll in and up to $10 per month in Uber Cash (up to $120 per year, and the Gold Card needs to be added to the Uber app to receive the Uber Cash benefit). That's enough to almost entirely offset the card's $250 annual fee.
The Amex Gold Card has a similar welcome bonus to the Chase Sapphire Reserve®, but it lacks many of the Reserve's strong travel protections, and it doesn't come with airport lounge access or a Global Entry/TSA PreCheck credit. For a full breakdown of the differences, check out our Amex Gold vs Chase Sapphire Reserve card comparison.
Chase Sapphire Reserve Frequently Asked Questions (FAQ)
You'll need a credit score of at least 670 to get the Chase Sapphire Reserve. Most people who are approved for the Chase Sapphire Reserve have a credit score in the good to excellent range, meaning a FICO score of at least 670. You need a credit score above 700 to open most travel credit cards.
The Chase Sapphire Reserve is worth it if you're a frequent traveler who will maximize the card's credits and benefits. A frequent traveler can easily save $1,000 per year with the Chase Sapphire Reserve. However, if you don't think you'll be able to use these benefits, you'll likely do better with the Chase Sapphire Preferred® Card.
Between the annual travel credit (up to $300 per year), DoorDash credits (up to $60 per year), and Instacart credits (up to $180 per year), you can offset the annual fee almost entirely — and the rest of the benefits are just gravy.
The Chase Sapphire Reserve is good for frequent travelers who can make the most of its benefits, especially the annual travel credit and airport lounge access. If you won't book paid travel through Chase and don't travel through airports with Priority Pass lounges, you might want to consider a different, less expensive, travel card.
The Chase Sapphire Reserve is only hard to get if you meet the following criteria: You have opened five or more cards in the past 24 months from any bank (excluding most small-business credit cards), known as the Chase 5/24 rule; you currently hold any flavor of Chase Sapphire card; or your credit score is below 670. You won't be eligible for its bonus if you've received a Sapphire bonus within the past 48 months.
You can add an authorized user to your Chase Sapphire Reserve by signing into your Chase account online and navigating to the "Account Services" tab. Select "Add an authorized user" to begin the process; you'll need to provide their name, date of birth, and mailing address to add them as an additional cardholder.
There's a $75 fee for each authorized user, but they'll get their own Priority Pass Select membership and get access to travel insurance and other benefits when they use their card.
Methodology: How we reviewed the Chase Sapphire Reserve
Insider's credit cards team reviewed the Chase Sapphire Reserve in comparison to similar premium travel rewards cards. We looked at several factors in our assessment, including:
- Ease of use — Is the card's rewards earning and redeeming easy to understand, even for beginners? Are there multiple options for using rewards?
- Potential rewards — Does the card offer a generous welcome bonus compared to competing cards, and does it offer bonus categories that are useful to the average traveler? Are any of the categories capped?
- Annual fee — Premium cards usually come with high annual fees. Is the fee justified by the rewards and perks the card offers?
- Benefits — Are the card's benefits, especially related to travel and upscale perks, at least equal to or better than similar cards?
Here's a guide to how we rate credit cards at Insider for closer look at our methodology.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Trip Delay Insurance, Trip Cancellation and Interruption Insurance, and Cell Phone Protection Underwritten by New Hampshire Insurance Company, an AIG Company. Global Assist Hotline Card Members are responsible for the costs charged by third-party service providers. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, Card Members may be responsible for the costs charged by third-party service providers. Extended Warranty, Purchase Protection, and Baggage Insurance Plan Underwritten by AMEX Assurance Company. Car Rental Loss & Damage Insurance Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
***Terms, conditions, and exclusions apply. Refer to your Guide to Benefits for more details. Travel Accident Insurance is not guaranteed, it depends on the level of benefits you get at application.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply