Review: Is the Chase Sapphire Reserve the best card for you?
The
If you don't want to pay a premium-level annual fee, the
Bottom line: Those who are new to rewards credit cards 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
Chase Sapphire Reserve versus other Chase credit cards
| Annual fee | $550 | $95 | $95 |
| Rewards rate | 10x points on Lyft rides 3x points on travel and dining 1x on everything else | 5x points on Lyft rides 3x points on travel and dining 1x on everything else | 3x points on travel, shipping purchases, internet, cable, and phone services, and on advertising purchases with social media sites and search engines* 1x on everything else |
| Welcome bonus | 50k points after you spend $4k in the first 3 months from account opening | 60k points after you spend $4k in the first 3 months from account opening | 100k points after you spend $15k in the first 3 months from account opening |
*earn 3x points on the first $150,000 in combined purchases in these categories each account anniversary year.
Chase Sapphire Reserve versus other premium cards
| Annual fee | $550 | $550 | $495 |
| Rewards rate | 10x points on Lyft rides 3x points on travel and dining 1x on everything else | 5x points on flights booked directly with airlines or Amex travel 5x points on prepaid hotels booked on Amex Travel 1x on everything else | 5x points on air travel and hotels 3x points on hotels and cruise lines 1x on everything else |
| Welcome bonus | 50k points after you spend $4k in the first 3 months from account opening | 60k points after you spend $5k in the first 3 months from account opening | 50k points after you spend $4k in the first 3 months from account opening |
| Benefits | $300 annual travel credit Up to $120 in DoorDash credits* Complimentary year of DoorDash DashPass membership Priority Pass airport lounge access Up to $100 statement credit for TSA PreCheck or Global Entry
| Up to $200 in annual airline fee credits Airport lounge access, including Centurion Lounges Up to $100 statement credit for TSA PreCheck or Global Entry | Up to $250 in annual travel credits 4th Night Free on hotel stays booked through Citi Priority Pass airport lounge access |
*up to $60 in credits in 2020 and up to $60 in credits in 2021
Using Chase Ultimate Rewards points
The
Ultimate Rewards points can be exchanged for cash back, gift cards, or statement credits, with each point worth 1 cent. You can also use them to purchase travel through Chase, 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.
Chase recently introduced a new option for redeeming points on the
Finally, you can also transfer points to Chase's airline and hotel partners' loyalty programs — transferring points is generally the most valuable way to use them.
The Sapphire Reserve's 50,000-point sign-up bonus is worth $500 as cash back, $750 for travel purchased through Chase, or more if you transfer the points to an airline or hotel program.
Chase Sapphire Reserve features
$300 travel credit
Each cardmember year (meaning every 12 months starting the month you open the card), the
When you subtract the travel credit, the Chase Sapphire Reserve's annual fee is effectively $250.
Up to $120 in statement credits for DoorDash food delivery
Chase was clearly feeling the pressure from updates to American Express cards like the
To kick off 2020, Chase announced the addition of DoorDash benefits for
If you already use food delivery services and DoorDash is available in your town, this credit can be taken at face value: up to $120 in value. This would bring the card's effective annual fee down to $190 per year ($550 minus the $300 travel credit minus $60 in DoorDash credit). However, if you're not interested in this perk, it could be harder to justify the newly increased annual fee.
A year of complimentary Lyft Pink membership
This is another new benefit that took effect on January 12. Lyft Pink membership gets you perks such as:
- 15% off Lyft rides
- Priority airport pickups
- Relaxed cancellation policies
- Up to three 30-minute bike or scooter rides per month
The last benefit is only available in select metropolitan areas, so not everyone will be able to use it. If you're a frequent Lyft user, this perk could be great, but if not, it could be harder to justify the increased annual fee.
Airport lounge access
Having access to airport lounges is one of my favorite perks of the
The
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.
Global Entry or TSA PreCheck
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. The programs cost $85 to $100, and Chase will provide a credit for that fee every four years (memberships are valid for five years).
Primary rental car insurance and rental elite status
The
When you have the
Other benefits
The
In my opinion, one of the most useful is trip and baggage delay insurance. When you're traveling and you're delayed for at least six hours, or overnight, you're covered for up to $500 of incidentals per person traveling with you whose ticket was purchased with the card. That covers things like hotel accommodations, meals, toiletries, and a change of clothing — really, anything that can be considered a "reasonable" expense.
Similarly, if your baggage is delayed, things like clothing and toiletries are covered up to a certain amount until your bag is delivered.
Other protections include travel accident insurance, trip cancellation/interruption insurance, extended warranty, and return protection.
Chase Sapphire Reserve costs and fees
As discussed above, the
You'll want to make sure you can pay your balance in full each month to avoid interest charges. The card has an APR of
Like virtually every other travel card, the Sapphire Reserve doesn't charge foreign transaction fees.
Related Content Module: More Credit Card Coverage
SEE ALSO: Here are all the amazing ways you can use the points from your Chase credit card
