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LendEDU Rating: 4.6/5
Rewards rate: 1x – 10x
Annual fee: $550
Editor’s thoughts: Cardholders who can manage the annual fee can earn significant rewards and benefits
The Chase Sapphire Reserve comes with a plethora of rewards and benefits — at a cost. If you can afford the $550 annual fee, then you’ll want to learn more about this travel credit card as it has the potential to become your most used card.
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:
- 10x points on hotels and car rentals when purchased through Chase Ultimate Rewards*
- 10x points on Chase Dining purchases with Ultimate Rewards
- 5x points on flights when you purchase travel through Chase Ultimate Rewards*
- 3x points on dining
- 3x points on travel*
- 1x points on all other purchases
*After the first $300 is spent on travel purchases annually.
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.
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 fee 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:
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.4.6 Chase Sapphire Reserve Credit Card
Author: Jeff Gitlen, CEPF®
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