Chase Sapphire Reserve Card overview
The Chase Sapphire Reserve® (see rates and fees) works overtime as one of the best rewards and travel credit cards on the market. It earns high-value Ultimate Rewards points that can be transferred to hotel and airline partners or redeemed to book travel. Coupled with multiple statement credits, an annual travel credit, airport lounge access and a litany of other perks, this card is guaranteed to upgrade your travel lifestyle. Card rating*: ⭐⭐⭐⭐½
*Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.
The Chase Sapphire Reserve, one of the top premium rewards credit cards, underwent a refresh in June 2025 that included additional statement credits, modified earnings and a new card design, among other new benefits. This update didn’t come cheap, though, and resulted in a 45% annual fee increase from $550 to $795.
This annual fee is $100 more than that of The Platinum Card® from American Express ($695 annual fee; see rates and fees) and $400 more than that of the Capital One Venture X Rewards Credit Card ($395 annual fee).
If you can maximize enough of the Sapphire Reserve’s benefits — and take advantage of its perks — to offset its annual fee, you’ll still come out ahead.
We recommend a credit score of at least 670, but it’s not unheard of to get approved with a lower score.
Let’s look at the features that continue to make it such an attractive card and one that has earned a permanent spot in many TPG staffers’ wallets.
Chase Sapphire Reserve pros and cons
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Chase Sapphire Reserve welcome offer
Currently, new applicants for the Chase Sapphire Reserve can earn 100,000 points plus a $500 Chase Travel℠ credit after spending $5,000 within the first three months from account opening. This offer ends at 9 a.m. EST on Aug. 21.
TPG’s August 2025 valuations peg Chase Ultimate Rewards points at 2.05 cents apiece, making the current welcome bonus worth up to $2,550 when you include the $500 Chase Travel credit. This would cover the annual fee of $795 more than three times.
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Keep Chase’s application restrictions in mind, especially regarding the Sapphire cards. Because of Chase’s 5/24 rule, you’ll want to apply for Chase cards first before turning to other issuers. That’s why picking the right Sapphire product for your situation is critical.
While you can hold both the Chase Sapphire Preferred® Card (see rates and fees) and the Sapphire Reserve, if you’ve received a bonus on a Sapphire product in the past, you’re likely no longer eligible for a bonus on that same card again.
Before you finalize your application, a pop-up will tell you if you’re eligible for a welcome bonus.
Related: The best welcome offers of the month
Chase Sapphire Reserve benefits
The Chase Sapphire Reserve has myriad benefits that appeal to travelers. However, existing cardholders who held the Sapphire Reserve before June 23 will not have access to any new benefits and perks until Oct. 26.
Annual travel credit
One of the biggest perks of the card is the $300 annual travel credit. Chase will automatically credit your account $300 when you use it to make eligible purchases, which cover a wide variety of travel providers:
Merchants in this [travel] category include 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.
This perk alone lowers your effective annual fee to $495.
One of the best things about this credit is how flexible it is. It can cover a variety of travel purchases up to $300, including airline tickets, hotel reservations, cruise reservations and more. This is a favorite perk of many TPG staffers who have the Sapphire Reserve.
Other statement credits
The Sapphire Reserve also comes with a multitude of other useful lifestyle statement credits. These include:
- Up to $500 annually via Chase’s The Edit porfolio: Cardholders receive $250 credits biannually to use for The Edit reservations of two nights or more. This credit has me intrigued, as I can still earn and receive hotel loyalty status benefits even though I’m booking through an online travel agency. I tend to stay at Marriott properties most of the time, and many are on The Edit, so it will be nice that I can use this credit to cover my stay. Plus, my Titanium Elite status benefits would likely kick in and earn me elite nights and points.
- Up to $300 annually with StubHub and Viagogo (through Dec. 31, 2027): Cardholders receive up to $150 credits biannually to use on event tickets at StubHub. I’d easily use this perk, as I attend multiple concerts and sporting events each year, and StubHub is one of the largest online ticket platforms.
- Up to $300 annually for dining via OpenTable: Cardholders receive up to $150 credits biannually for prime-time reservations at Sapphire Reserve Exclusive Tables; no prepayment or payment through OpenTable is required.
- Up to $300 in annual promos with DoorDash: Cardholders receive up to $25 in monthly promos with two $10 nonrestaurant promos and one $5 restaurant promo. Plus, receive a complimentary DashPass membership for at least one year, worth $120, and enjoy $0 delivery fees and lower service fees on eligible orders. (Must activate by Dec. 31, 2027.)
- Up to $250 annually in complimentary Apple TV+ and Apple Music subscriptions (through June 22, 2027): This perk alone has me considering applying for the card, given I already pay for and use these services daily. Apple Music has over 33 million subscribers in the U.S., so this should be one of the easier credits for most cardholders to use. (One-time activation per service through chase.com or the Chase Mobile app required.)
- Up to $120 in annual in-app Lyft credits (through Sept. 30, 2027): Cardholders receive up to $10 in-app credits each month; the credit does not apply to Wait & Save, bike or scooter rides.
- Up to $120 for Global Entry, TSA PreCheck or Nexus: Cardholders receive an application fee credit every four years. My pick is Global Entry since it includes PreCheck, so that’s the best value for your money.
- Up to $120 for Peloton memberships (through Dec. 31, 2027): Dispersed as a $10 monthly credit; activation required.
If you fully use all of these credits and benefits, the value you’ll get totals over $2,000.
Lounge access
Sapphire Reserve cardholders get access to Chase Sapphire Lounges by The Club and Priority Pass lounges (excluding restaurants) for themselves and up to two guests. There are currently eight open Sapphire lounges, and plans for three new ones coming soon.
Additionally, cardholders receive access to over 20 Air Canada Maple Leaf lounges when traveling on a Star Alliance airline.
Authorized users receive the same airport lounge access on their own, though you’ll pay an extra annual fee of $195 for each additional cardholder.
The Priority Pass network includes over 1,700 lounges, both in the U.S. and abroad.
Hotel benefits
Sapphire Reserve cardholders will receive automatic IHG One Platinum elite status through Dec. 31, 2027. This status tier comes with perks like 60% bonus points on IHG stays, complimentary upgrades (subject to availability), early check-in, 2 p.m. late checkout (subject to availability) and Hertz Five Star status.
Additionally, when booking a hotel via The Edit, cardholders will receive a $100 property credit and benefits like complimentary breakfast.
Visa Infinite perks
Because the Sapphire Reserve is a Visa Infinite card, you’ll receive the program’s perks. Highlights include primary rental car insurance, trip cancellation and delay coverage, lost luggage reimbursement, a concierge service, and access to The Edit.
Additionally, when abroad, you’ll pay no foreign transaction fees.
Unlockable benefits
Additionally, Reserve cardholders will be able to unlock even more premium benefits after spending $75,000 or more in a calendar year. These benefits include:
- IHG Diamond status
- Southwest Airlines A-List status
- $500 Southwest statement credit (flights must be booked through Chase Travel)
- $250 annual The Shops credit (The Shops is an online marketplace from Chase where you can use your points to buy items from popular brands like Dyson and Sony)
While these benefits are nice if you can spend $75,000 on your card organically, I wouldn’t go out of my way to meet the spending requirement. You can qualify for IHG Diamond status by staying 70 nights at IHG hotels or spending $40,000 on an IHG credit card. Meanwhile, to qualify for Southwest A-List status, you just need to take 20 one-way flights or earn 35,000 tier-qualifying points.
Depending on what hotels and flights you book, both of these options could cost less than the $75,000 needed to unlock those benefits on the Chase Sapphire Reserve.
Additionally, if you can meet the spending requirement, the extra statement credits are nice, but again, I wouldn’t go out of my way to try to earn them.
Related: The power of the Chase Trifecta: Maximize your earnings with 3 cards
Earning points on the Chase Sapphire Reserve
Besides the welcome bonus, the Sapphire Reserve’s bonus-earning categories will also help build your Ultimate Rewards balance. You’ll earn:
- 10 points per dollar spent on Peloton equipment and accessory purchases (through Dec. 31, 2027) of $150 or more, with a maximum of 50,000 points (a 20.5% return based on TPG’s August 2025 valuations)
- 8 points per dollar spent on purchases made through Chase Travel, including The Edit (a 16.4% return)
- 5 points per dollar spent on Lyft rides through Sept. 30, 2027 (a 10.25% return)
- 4 points per dollar spent on flights and hotels booked directly (an 8.2% return)
- 3 points per dollar spent on dining worldwide (a 6.15% return)
- 1 point per dollar spent on everything else (a 2.05% return)
Note that you won’t earn any points on the first $300 spent on direct flights and hotel purchases or purchases made through Chase Travel each cardholder year, as that will trigger the card’s $300 travel credit.
Previously, this card offered 3 points per dollar spent on all travel purchases. While I like the addition of 4 points per dollar spent on flights and hotels booked directly, not having a bonus category for general travel purchases stings, as Chase broadly defines travel and previously included things like parking and tolls.
Related: Is the Chase Sapphire Reserve worth the annual fee?
Redeeming points on the Chase Sapphire Reserve
The ability to redeem rewards with partners is one of the most important aspects of a travel rewards credit card, and that’s definitely the case with the Sapphire Reserve. If you transfer your points to one of Chase’s 14 travel partners, there’s potential for some amazing redemptions (more on that in a moment).
However, you can redeem your points in other ways, too, such as for cash back, gift cards or dining and experiences through the Ultimate Rewards portal at a rate of 1 cent per point. Or, you can cover eligible purchases at a higher value through Chase Pay Yourself Back.
These redemption methods provide less value than transferring your points to partners, so I don’t recommend using your points this way.
You can also redeem points to book travel through Chase Travel. With the recent refresh, we’ve seen some changes to redeeming points through Chase Travel, including a new feature: Points Boost.
Points can be used to book travel through Chase Travel at a value of up to 2 cents per point, depending on the card and the specific redemption (see your rewards program agreement for full details).
The redemption rates vary based on rotating offers on different flights and hotels. The airlines will vary and change over time, but from the start, it appears that the airlines eligible for Points Boost are all transfer partners of Chase. Here are some things to know about Points Boost:
- Previously, Sapphire Reserve cardholders could redeem points for 1.5 cents each.
- You can redeem points at 2 cents per point on premium airfare booked through Chase Travel and hotels booked through The Edit.
- For cardholders approved before June 23, 2025, all points earned before Oct. 26, 2025, can be redeemed at 1.5 cents per point via Chase Travel, regardless of the airfare class or hotel property or at up to 2 cents with Points Boost. The higher redemption rate will automatically be selected for you.
- Cardholders approved after June 23, 2025, will only have access to Points Boost.
- After Oct. 26, 2027, points can be redeemed for 1 cent each for all Chase Travel purchases that don’t qualify for Points Boost.
- Basic economy flights are not eligible for Points Boost.
Related: From international business class to domestic travel: The best Chase Ultimate Rewards sweet spots
Transferring points on the Chase Sapphire Reserve
Again, the most valuable use of your Chase Ultimate Rewards points is to transfer them to one of Chase’s 14 airline and hotel transfer partners, including valuable options like British Airways Club, Air Canada Aeroplan and Southwest Airlines Rapid Rewards.
For example, I love to transfer my points to World of Hyatt. In March 2025, I transferred 30,000 points to Hyatt to stay at the Hyatt Centric The Liberties Dublin over St. Patrick’s Day weekend, when cash rates were upward of $400 per night.
Related: How to redeem Chase Ultimate Rewards points for maximum value
Which cards compete with the Chase Sapphire Reserve?
The Sapphire Reserve’s most natural competitors are another Ultimate Rewards-earning card with a lower annual fee and the two other big-name premium travel credit cards.
- If you want a mid-tier card with a lower annual fee: The Chase Sapphire Preferred is a good choice for earning Chase Ultimate Rewards points for a lower annual fee of $95. You’ll get numerous travel protections and have access to all the same hotel and airline partners as you would with the Sapphire Reserve. To learn more, check out our full review of the Sapphire Preferred.
- If you want a premium travel card with a lower annual fee: The Capital One Venture X Rewards Credit Card offers access to Priority Pass and Capital One lounges for a lower annual fee of $395. You’ll also enjoy insurance protections and earn at least 2 miles per dollar spent on all purchases and a $300 Capital One Travel credit each year. To learn more, check out our full review of the Capital One Venture X.
- If you want to earn Amex Membership Rewards points: The Amex Platinum offers a ton of valuable statement credits every calendar year and has a lower annual fee of $695. Plus, it offers access to numerous lounges, including the Amex Centurion Lounge network and Priority Pass lounges. Enrollment is required for select benefits; terms apply. To learn more, check out our full review of the Amex Platinum.
For additional options, check out our full list of best travel credit cards and best Chase credit cards.
Related: Chase Sapphire Preferred vs. Sapphire Reserve: Should you go mid-tier or premium?
Bottom line
The Chase Sapphire Reserve has been revamped with an increased annual fee, but with multiple added benefits and statement credits that many will be able to get great value from.
Even with the 45% annual fee increase, the Chase Sapphire Reserve could be a great addition to your wallet if you value premium travel benefits, lounge access and various lifestyle-related statement credits.
Apply here: Earn 100,000 points plus a $500 Chase Travel credit after spending $5,000 within the first three months from account opening on the Chase Sapphire Reserve. Offer ends at 9 a.m. EST on Aug. 21.
For rates and fees of the Amex Platinum Card, click here.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.