Key Highlights
The Chase Sapphire Reserve®* is one of the most well-known premium credit cards on the market. It offers strong value to consumers looking for a hefty welcome offer, flexible rewards and generous travel perks.
Currently, the card offers 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening. Paired with a suite of travel and dining benefits, it can be an appealing asset to your credit card portfolio. However, the $550 annual fee is steep and can be hard to justify for some consumers.
The Sapphire Reserve is heavily skewed toward frequent travelers, thanks to its rewards and features:
- Earns bonus points on travel purchases made with the card
- Points can be transferred to partner travel programs or redeemed through Chase Travel℠ at higher yields
- Card benefits include an annual travel credit, airport lounge access, premium travel protections and more
Pros and Cons of the Chase Sapphire Reserve®*
If you’re considering getting a Sapphire Reserve, you should weigh its pros and cons.
Pros of the Chase Sapphire Reserve®*
- Offers a generous welcome bonus
- Includes a $300 annual travel credit that is flexible and easy to use
- Earns up to 10 Chase Ultimate Rewards® points per dollar spent on select spending categories
- Points may be transferred to more than a dozen airline and hotel partners
- Additional travel benefits for cardmembers can provide outsized value
Cons of the Chase Sapphire Reserve®*
- High annual fee
- The 5/24 rule makes some people ineligible
- Travel perks may overlap with existing benefits from other cards in your wallet
Who Should Get the Sapphire Reserve?
The Chase Sapphire Reserve®* can certainly be worth it for the right person. If you’re unsure whether it’s a good fit for you, consider what you’ll gain that you’re not currently getting from another card.
1. Those Who Want a Substantial Welcome Offer
Travel demand remains extremely high, and consequently prices have skyrocketed. Many people are looking for credit card welcome bonuses to help lower their travel expenses this year (and beyond). If you’re one of these people, then the welcome bonus from the Sapphire Reserve might make the card worth applying for.
The card offers 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening. Ultimate Rewards points earned with this card are worth 1.5 cents per point when redeemed through the Chase Travel portal, but you may get well over two cents per point by transferring them to an airline or hotel rewards partner program.
Transfer partners include several loyalty program favorites like World of Hyatt, Southwest Rapid Rewards and United MileagePlus. With 60,000 points, you can book up to five nights at an all-inclusive Hyatt hotel, a round-trip economy class ticket to Europe on United Airlines during the low season or up to $900 in your choice of travel bookings made through Chase Travel℠. You could also redeem points toward statement credits or through the Pay Yourself Back program if travel isn’t an immediate need.
2. Those Who Can Offset the Annual Fee Through Card Benefits
The Sapphire Reserve Card’s $550 annual fee is partially offset by an annual $300 travel credit in addition to benefits like a Global Entry, TSA PreCheck or NEXUS application fee credit and airport lounge access through a Priority Pass Select membership. Cardmembers also get a complimentary DashPass, Lyft Pink and Instacart+ membership. These perks can add up to hundreds of dollars in value—but only if you use them.
Welcome bonuses are rewarding, but the card perks ultimately dictate whether a card is worth keeping past the first year. If you can make these benefits work for you, then the Sapphire Reserve can be a worthy choice.
3. Those Who Can’t Get These Perks From Another Card
The market is saturated with premium credit cards offering benefits like lounge access, trusted traveler program fee credits and annual travel credits. Some of those cards may offer better value for the annual fee than the Sapphire Reserve. For example, the Capital One Venture X Rewards Credit Card (rates & fees) offers many of the same travel benefits as the Sapphire Reserve, like lounge access and trusted travel membership reimbursements for a lower annual fee. Other cards may offer different combinations of benefits that are a better fit for you specifically, even if the card’s fee is higher.
If you’re already getting these perks from another credit card, you may not need a Sapphire Reserve beyond the welcome bonus. But if you don’t currently have a premium credit card in your wallet, then the Sapphire Reserve is an excellent option to consider.
Read more: Capital One Venture X vs. Chase Sapphire Reserve
4. Those Who Want To Earn Ultimate Rewards at an Elevated Rate
The Sapphire Reserve is an excellent card if you want to earn lots of Chase Ultimate Rewards beyond the welcome bonus. The card offers generous category bonuses on both travel and everyday purchases.
Cardholders earn 10 Ultimate Rewards points on hotels and rental cars booked through Chase Travel (after the first $300 spent annually). Flights booked through the portal earn 5 points, which is very competitive. All other travel spending booked through any other means earns 3 points.
Through March 2025, cardholders also earn 10 points for every dollar spent on Lyft rides. This can be incredibly lucrative for frequent travelers who rely on the service to get around different cities.
On the everyday spending front, the Sapphire Reserve earns 10 points on Chase Dining purchases and 3 points on all other restaurants, eligible delivery services and takeout. These bonus categories are incredibly generous and can help you accrue lots of Ultimate Rewards quickly.
5. Those Who Are Under 5/24
Chase has a rule that could impact your ability to qualify for a Sapphire Reserve. Based on the 5/24 rule, you won’t be eligible for a new Chase card if you’ve opened five or more accounts (at any bank) over the last 24 months.
If you are under 5/24, then this can be an opportunity to add a Chase card to your wallet while you’re still eligible.
Even if you have your eye on a credit card from a different bank, getting a Chase card bonus under your belt while you’re still eligible is a good idea. The Sapphire Reserve’s welcome bonus and card perks make it a contender if you’re in the market for a flexible rewards card.
Alternatives to the Chase Sapphire Reserve Card
While the Sapphire Reserve is a great card, it isn’t for everyone.
If you want the ability to earn transferable Chase Ultimate Rewards but can’t justify a premium annual fee, consider the Chase Sapphire Preferred® Card* instead. You’ll earn points with every purchase, along with a strong welcome bonus. Additionally, you’ll have access to similar travel protections when paying for trips with your card. Best of all, the annual fee is only $95. However, it comes with fewer premium benefits and credits.
If the benefits are important to you, but you want to keep your annual fee at a lower level, consider the Capital One Venture X Rewards Credit Card (rates & fees) with a $395 annual fee. The card includes an annual travel credit—although there are more restrictions on how you can use it—as well as trip insurance, airport lounge access and trusted traveler application credits. It earns Capital One miles, which are flexible and transferable like Chase Ultimate Rewards, but with a different set of travel partners.
Lastly, if your goal is premium travel benefits rather than the rewards, The Platinum Card® from American Express (Terms apply, see rates & fees) may be a good alternative to the Sapphire Reserve. In addition to lounge access, credits toward select airline and hotel bookings and membership fees toward CLEAR® Plus, the card includes elite status with several hotel and car rental companies. Those will each entitle you to additional time and money-saving perks. However, the annual fee is a hefty $695.
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Bottom Line
The Chase Sapphire Reserve may be worth it if you can get more than $550 in value out of its various perks. That’s easy to do in the first year when you receive a welcome bonus. But if you plan on keeping the card long-term, you’ll want to ensure that the various benefits don’t overlap with any existing premium credit cards in your wallet and that you’re getting outsized value for paying the annual fee. The card can absolutely be worth it for the right person who can maximize its perks and generous category earning rates.
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.
To view rates and fees for The Platinum Card® from American Express please visit this page.
Frequently Asked Question (FAQs)
How can you get the Chase Sapphire Reserve?
Applying for the Sapphire Reserve is as easy as submitting an application online, by phone, by mail or in-person at a Chase branch. However, to be approved, you’ll likely need to have excellent credit. You should also expect to pay the annual fee during the first billing statement period.
How much are Chase Sapphire Reserve points worth?
The value of Sapphire Reserve points—also known as Chase Ultimate Rewards—varies depending on how you redeem them. When using rewards for cash back or gift cards, points are worth 1 cent per point. However, you can get 1.25-1.50 cents each through Chase Pay Yourself Back, 1.5 cents per point when booking travel through Chase Travel and potentially even higher value when transferring points to partnering airline and hotel programs.
How do you upgrade the Chase Sapphire Preferred to Reserve?
If you already have a Chase Sapphire Preferred® Card* and want to upgrade it to the Sapphire Reserve, call the phone number on the back of your card. A customer service representative will confirm if you are eligible for an upgrade and, if so, can process the upgrade immediately over the phone. Be aware that card upgrades don’t include a welcome bonus. Additionally, you’ll be responsible for the new, higher annual fee compared to the Sapphire Preferred.
How much do you have to spend to make the Chase Sapphire Reserve worth it?
The Sapphire Reserve’s value has less to do with your spending amount and more to do with how often you use the included benefits. The card can be worth it by making use of its included travel credit, trip protections and airport lounge access, for example.
If you don’t use any of those benefits, you’d need to spend $55,000 per year on non-bonus spending (at 1 point per dollar) to break even with the annual fee if you redeem for cash back. If you earned points in bonus categories, or if you redeem points for travel which is worth more than 1 cent per point, you’d need to spend less overall to make the Chase Sapphire Reserve worth it.
