Chase Sapphire Reserve Credit Card Review
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LendEDU Rating: 4.6/5
Rewards rate: 1x – 3x
Annual fee: $550
Editor’s thoughts: Cardholders who can manage the annual fee can earn significant rewards and benefits
JP Morgan Chase & Co, also known as Chase, is one of the leading banking and financial institutions in the world. It is actually the largest bank within the United States, and the 7th largest bank in the entire world (based on their assets).
Its been in the banking industry since the late 1700s, but it wasn’t until early 2000 when Chase joined JP Morgan. The company offers a variety of financial services, including credit cards. One such credit card is the Chase Sapphire Reserve. Let’s take a closer look and see if this could be the right card for you.
Benefits and Rewards
Do you love to travel? If so, then the rewards that come with the Chase Sapphire Reserve will stand out.
New cardholders can earn 50,000 bonus points after spending $4,000 on the card within the first three months from account opening. That’s a $750 value if redeemed for travel through Chase Ultimate Rewards.
Here is a breakdown of the rewards rates:
- 3x points on dining
- 3x points on travel
- 3x points on up to $1,000 in grocery store purchases per month until April 30, 2021
- 1x points on all other purchases
Other benefits include up to $300 in statement credits as reimbursement for travel purchases charged to your card each account anniversary year, 50% more value when you redeem points for travel through Chase Ultimate Rewards, no foreign transaction fees, and more.
Downsides
The Chase Sapphire Reserve doesn’t come with many downsides. The main one to consider before applying is the high annual fee. Paying $550 a year for a credit card is a hefty expense.
Make sure your spending habits match up with the rewards on the card so that you can cover the annual cost each year.
How It Compares to Other Cards
While the Chase Sapphire Reserve is a great travel card for those that can afford the annual fee, some may prefer another option. If that’s the case, you can check out a similar offer from Chase: The Chase Sapphire Preferred. This card has a much smaller annual fee and comes with plenty of travel benefits.
If you’d like to compare more options, check out one of our guides below:
Bottom Line
As you can see, the Chase Sapphire Reserve has a lot to offer. If you can afford to put up the annual fee each year, this card could be your new go-to travel card.
