I have several premium credit cards in my wallet. The Chase Sapphire Reserve® card earns a place among them thanks to benefits like the best credit card travel insurance I've found, and the value I place on Chase Ultimate Rewards.
The Chase Sapphire Reserve® is one of the best travel rewards credit cards of all time, and previously held Business Insider's top-choice title of "best travel card overall". But after Chase increased the card's annual fee to $550 in 2020, our credit card experts demoted it in favor of its mid-tier sibling, the Chase Sapphire Preferred® Card.
In my opinion, the Chase Sapphire Reserve® is perfect for foodies who value luxury or adventure and travel at least three times a year, especially if one of those trips is international.
While this card's annual fee is costly and may not be the best for everyone, I've had it for over six years and plan on keeping it for several reasons I'll dive into below.
$550
N/A
21.49% - 28.49% Variable
Earn 60,000 bonus points
Good to Excellent
- Annual travel credit can effectively shave $300 off the annual fee if you use it
- Strong travel insurance
- Strong bonus rewards on travel and dining
- Very high annual fee
If you're new to rewards credit cards you may want to start elsewhere, but if you know you want to earn Chase points and you spend a lot on travel and dining, the Sapphire Reserve is one of the most rewarding options.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
- $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
- Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 60,000 points are worth $900 toward travel.
- 1:1 point transfer to leading airline and hotel loyalty programs
- Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $120 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance and more.
- Member FDIC
Chase Sapphire Reserve® Rewards
The Chase Sapphire Reserve® earns Chase Ultimate Rewards points, which are some of the most valuable credit card rewards in the points and miles ecosystem. According to Business Insider's points valuations, Ultimate Rewards have an average value of 1.8 cents apiece.
I have half a dozen Chase cards that earn Ultimate Rewards points, but my Chase Sapphire Reserve® is the "one card to rule them all."
I funnel points earned from my other cards to the Chase Sapphire Reserve® for additional value, either by sending them to Chase Ultimate Rewards point transfer partners or by redeeming them through Chase Travel℠ for 1.5 cents apiece.
The other Ultimate Rewards-earning cards in my wallet include the Ink Business Preferred® Credit Card, Ink Business Unlimited® Credit Card, Ink Business Cash® Credit Card, Chase Freedom Unlimited®, and Chase Freedom Flex® .
Welcome Bonus
Earning a welcome bonus is the quickest way to jump-start or boost your stash of points. 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. This bonus is worth $1,080 in travel when you transfer points to airline and hotel partners, according to Business Insider's valuations.
I personally think this bonus is just average in the world of credit card welcome offers, sometimes also called sign-up bonuses. While some credit cards are worth opening for the welcome offer alone, I typically earn this many points on my card each year just by using my Chase Sapphire Reserve® for all dining and travel expenses.
Pro tip: The Sapphire credit cards have some of the strictest restrictions within the Chase family. If you already have the Chase Sapphire Preferred® Card, you can't also get a Chase Sapphire Reserve® (or vice versa); you'll need to downgrade or cancel the card you already have. You also won't be eligible for a new welcome bonus if you got your last Sapphire card within the past 48 months (four years).
Using Chase Ultimate Rewards
I can transfer points from my Chase Sapphire Reserve® and other Chase cards to more than a dozen of the world's best-known airlines and hotels:
- Aer Lingus
- Air Canada
- Air France-KLM
- British Airways
- Iberia
- Emirates
- Hyatt
- IHG
- JetBlue
- Marriott
- Singapore Airlines
- Southwest
- United
- Virgin Atlantic
I regularly transfer points to Air Canada, Southwest, United, and Hyatt, and semi-occasionally use Air France-KLM and Virgin Atlantic. In my six years as a Chase Sapphire Reserve® cardholder, the only partners I haven't utilized have been Aer Lingus and Iberia.
Chase Sapphire Reserve® Benefits
Despite the high annual fee, the Chase Sapphire Reserve® has a lot to offer.
My Favorite Perk: The Most Comprehensive Credit Card Travel Insurance You'll Find
The "best" perk is also the most technical benefit to discuss. Nobody gets excited about insurance, but it's one of the best blessings in the world in the unlucky chance that you need it.
The Chase Sapphire Reserve®'s travel insurance is among the most generous travel insurance coverage of any credit card, so it's a great choice for booking flights and other transportation.
I highly value the travel insurance and purchase coverage that comes with this credit card. In fact, a single claim from a 2018 trip saved me more than $1,800 out of pocket on a chaotic three-week Italy trip.
I've reviewed a number of travel insurance plans and providers throughout my career and have even purchased annual travel insurance policies in the past. However, the travel insurance from the Chase Sapphire Reserve® has covered 95% of my needs.
Primary Car Rental Insurance
This card offers primary rental car insurance when I use the card to pay for a rental car. Primary coverage means that I don't need to file claims for damage, loss, or collisions through my personal auto insurance policy, as long as I've paid for the rental car with my Chase Sapphire Reserve®.
Liability insurance isn't included in this benefit, so you may still want to purchase liability coverage through the rental car company.
Pro tip: As of October 2024, New York state residents with auto insurance policies are no longer eligible for primary coverage on rental cars although you'll still have secondary coverage. If you live in New York but don't have a car insurance policy, you still qualify for primary rental car protection.
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 such as 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.
I used this benefit to help me rebook travel from Chicago to Venice in 2018, when my original flight was canceled altogether. Although United helped me get a new flight to Rome, I lost my original flight from Rome to Venice in the shuffle. The insurance from my Chase Sapphire Reserve® covered the cost of booking a new flight.
Trip Delay Insurance
If you pay for travel with this card, your trip delay insurance benefit 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.
It also helped me pay for new train tickets and a hotel in Florence when a train strike derailed my itinerary halfway through the trip.
Baggage Delay Insurance
If you pay 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.
This benefit helped me replace several hundred dollars of lost clothing during the Italy trip when my bags were stranded on a different plane due to summer thunderstorms. It took six days for my luggage to reach me, during which I maxed out the $500 allowance.
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 if you've paid for your tickets with the card.
This clause of the Chase Sapphire Reserve®'s travel insurance benefits has helped me replace two separate suitcases at different times: Once for a cracked shell, and once for a broken telescoping handle.
Additional Benefits
I've never had to use any of the following benefits (knock on wood). But they're always great to know about, just in case:
- Travel accident insurance — When you pay for your air, bus, cruise, or train transportation with the Chase 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, lock
- Emergency evacuation/transportation — Cardholders and their immediate family members can access an emergency evacuation and transportation benefit of up to $100,000 in coverage if they're injured or become critically ill during a covered trip of between five and 60 days. The evacuation must be approved by Chase's benefits administrator in consultation with a licensed physician.
- Emergency medical and dental benefits — Supplements any existing medical coverage I have if I'm injured or get sick on a trip of five to 60 days. There's a maximum benefit of $2,500 with a $50 deductible. If I need to recover in a hotel, I'm can be covered for costs up to $75 per day for up to five days.
Pro tip: The Chase Sapphire Preferred® Card has a much lower annual fee of $95, and comes with most of these travel insurance benefits, sometimes with lower tiers of coverage. For the price point, that card is a far better deal for most people who want some backup protection but who don't travel frequently enough to justify a premium card like the Chase Sapphire Reserve®
Read more in our Chase Sapphire Preferred card review, or look at our Chase Sapphire Preferred vs. Reserve card comparison to see which one makes the most sense for your own travel and financial needs.
Lyft Pink All Access Membership
I've been a Lyft-exclusive rider since 2018, thanks to the partnership between Chase and Lyft. Because I earn 10 Chase points per dollar on Lyft transactions when I pay with the Chase Sapphire Reserve®, I only use Uber when I'm traveling abroad or have a discount code (or credit card benefit).
As a Chase Sapphire Reserve® cardholder, I also get two years of complimentary Lyft Pink All Access membership. This is Lyft's most premium membership plan, worth $199 per year, and comes with excellent perks such as member-exclusive pricing, cancellation forgiveness, priority pickup upgrades, unlimited bike rides, and more.
Rental Car Discounts and Perks with Avis, National, and Silvercar
Chase Sapphire Reserve® cardholders get special privileges on Avis, National, and Silvercar car rentals, including complimentary elite status. Benefits vary between the three companies but typically include a car class upgrade, easy pick-up/drop-off, discounts, savings on luxury and premium cars, and special promotions
I don't use these benefits often, but my friends who have kids or specific rental vehicle requirements tell me that the Chase Sapphire Reserve®'s rental car benefits are very valuable for them.
$300 Annual Travel Credit
Every year, the Chase Sapphire Reserve® gives me a travel credit that applies to the first $300 I spend on subways, taxis, ridesharing, and parking, as well as hotels, airfare, and cruises. The statement credit automatically appears next to any eligible transaction I pay with this card.
DoorDash Food Delivery
The Chase Sapphire Reserve® offers cardholders complimentary DashPass membership for waived delivery fees on qualifying orders. I'll have this benefit through December 31, 2027, and I had to enroll through my Chase account dashboard to receive this benefit.
As of summer 2024, my card now includes a $5 monthly DoorDash credit that works on restaurant orders. These credits expire every three months, so I can accumulate up to $15 in credit before I redeem them (or they expire).
I also get two monthly $10 DoorDash credits for grocery or convenience store orders that can't be used at restaurants. In most cases, the added cost of delivery and service fees negates the $10 savings, but I've occasionally ordered green juice for pickup from my local 7-Eleven to use up the credit.
Priority Pass Airport Lounge Access
Having access to airport lounges is one of my favorite perks of the Chase Sapphire Reserve®. Lounges are comfortable, relaxing, and exclusive areas where you can enjoy comfortable seats, an internet connection, food and drinks — often complimentary — and other amenities on occasion.
The Chase Sapphire Reserve® is the original card that helped me get Priority Pass for free. My Priority Pass Select membership lets me bring two guests with me to any lounge — a fringe benefit that's fantastic for families or couples.
This benefit far less useful than I did several years ago, because I now have three credit cards that come with Priority Pass access. While I still find the Chase Sapphire Reserve® very valuable, it feels extravagant to triple-pay for a pricy benefit I can only use once at a time.
Pro tip: If you want to share Priority Pass access with family members who don't travel with you, check out my Capital One Venture X Rewards credit card review to see how I juice five airport lounge memberships out of a single premium credit card. And if you aren't sure which card to get, read our comparison of the Capital One Venture X and Chase Sapphire Reserve credit cards.
Chase Sapphire Lounges
In 2022, Chase began launching a proprietary portfolio of Chase Sapphire Lounges in airports worldwide that are available to Chase Sapphire Reserve® cardholders and all Priority Pass members.
Chase Sapphire Terrace
My home airport, Austin, has a Chase Sapphire Terrace — a unique little space you won't find anywhere else in the world. This location is only available to Chase Sapphire Reserve® cardholders; Priority Pass members can't enter.
This sliver of indoor/outdoor space is exclusive to Chase Sapphire Reserve® cardholders, and only offers to-go snacks, Farmer's Fridge vending machine meals like salads, pastas, and sandwiches, and canned beverages (both alcoholic and non-alcoholic). There's a single-stall bathroom on the outdoor patio, eight indoor seats, and an open-air patio space overlooking the Delta end of the tarmac.
The space isn't particularly luxurious or reflective of the other Chase Sapphire Lounges, but we have some of the sweetest staff members I've ever met. There aren't any outlets, but you can ask the check-in desk for a portable charger to juice up your devices before travel.
Global Entry, TSA PreCheck, or NEXUS Application Fee Credit
The Chase Sapphire Reserve® offers a statement credit of up to $120 for Global Entry, TSA PreCheck®, or NEXUS enrollment. This benefit is available once every four years, and membership in any of these programs is valid for up to five years — so if you keep this card open, you'll always have a credit available when you need to renew your membership.
Thanks to this credit card, I have both TSA Precheck and Global Entry, which includes TSA PreCheck enrollment.
Access to Chase Travel and The Edit by Chase Travel
Award travel aficionados have mixed reviews when it comes to booking travel through your credit card company. In many cases, I get the best rates and customer service by booking travel directly through the airline or hotel chain. But from time to time, I use the Chase Travel℠ portal when I don't want to spend any money out of pocket.
Chase Travel℠ works just like any other online travel agency (OTA) — and when I pay with my Chase Sapphire Reserve® but use points at checkout, I get a 50% bonus, where each point is worth 1.5 cents instead of the standard 1 point apiece. I typically book travel through Chase Travel℠ when I need to book a direct domestic flight in cash, but don't want to pay for it out of pocket.
Chase Sapphire Reserve® Frequently Asked Questions
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®. But if you don't think you'll be able to use these benefits, you'll likely do better with the Chase Sapphire Preferred® Card.
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® through your online account. 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.
Why You Should Trust Me: How I Reviewed the Chase Sapphire Reserve®
I've been writing about credit cards for nearly a decade at this point, and have held premium and entry-level credit cards for many years before that.
I reviewed the Chase Sapphire Reserve® by comparing it against similar premium credit cards, and assessed its merits based on the following factors:
- 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 vs. value — 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 Business Insider for closer look at our methodology.
