The Chase Sapphire Reserve card is ideal for individuals who are looking for a travel card that comes with a high earning potential and flexible redemption points. Although the card has one of the most expensive annual fees of all Chase cards, its vast luxury perks make it appealing to frequent travelers.
Travelers with excellent credit may find the Chase Sapphire Reserve card compelling due to the numerous perks associated with it. Members find value in the card’s high earning and redemption rates as well as luxury perks such as lounge access, concierge services and a $300 yearly travel credit.
The Chase Sapphire Reserve is a luxury travel card with exclusive perks for frequent travelers. In addition to the elevated earning and redemption values offered, new cardmembers can earn 60,000 bonus points by spending $4,000 on the card in the first three months. Chase Sapphire Reserve customers can also access over 1,200 worldwide lounges with the Priority Pass Select and are credited $300 back on travel purchases made through the card each year.
An outstanding travel card with flexible redemption points
Before applying for the Chase Sapphire Reserve card, it can be helpful to know the perks and drawbacks of owning the card. This can help you determine if it’s the right card for your wallet.
MoneyGeek ranks the best cards across various categories in its database of credit cards. You can compare the Chase Sapphire Reserve card with Moneygeek’s list of the best travel cards to see whether it has the features that you are looking for.
By getting the Chase Sapphire Reserve card, you will be allowed access to various rewards and bonuses. Here are some of the top perks you can expect to receive if you get the card.
You can transfer your points to some of the top airline and hotel loyalty programs. These Chase points are highly valued and will transfer to partner programs at a 1:1 rate.
Once you get this card, you will receive 60,000 bonus points if you spend $4,000 on purchases in the first three months. You can redeem these points for up to $900 of travel costs.
With this card, you can book any seat on a flight or any room in your hotel of choice using the Chase Ultimate Rewards program.
You will get up to 15% off for car rides as well as priority airport pickups and other exclusive savings opportunities with an active Chase Sapphire Reserve card.
Cardholders are eligible for $120 DoorDash credits. You’ll also get a DashPass membership that allows you to get free delivery and reduced service fees on orders that cost more than $12.
Chase Sapphire Reserve customers receive a $300 travel credit every year. This is automatically applied to your account when you make a travel-related purchase.
Card users will receive a credit when they use the card to pay for their TSA PreCheck or Global Entry applications.
Aside from the rewards and bonuses that the Chase Sapphire Reserve card offers, there are several additional features that make the card appealing to people with excellent credit.
It is possible to upgrade to this card from the Chase Sapphire Prefered if you’re looking to earn the larger 100,000 point welcome offer, though you will have to wait 12 months to do so. This is also the card to get if you’re looking for luxury perks, such as the Priority Pass Select. The $300 travel credit also helps this card make a lot of sense financially.
Although the card has a high annual fee, it is a great supplement to other reward credit cards. With its 1:1 point transfer feature, it is easy for cardholders to transfer points between different accounts as a way of maximizing the bonus and other rewards. However, you will need to have excellent credit to get the card.
Variable APR of 16.99% to 23.99%
The Chase Sapphire Reserve card has a slightly higher variable APR than some of the other Chase cards. This variable applies to all purchases and balance transfers, and the rate depends on your creditworthiness.
My Chase Plan Fee
This fee is the same across Chase cards and is charged at 1.72% of each transaction’s cost. This amount remains standard until the plan is paid in full.
Annual Fee
Before completing the Chase Sapphire Reserve application, you need to be sure that you are ready to meet its high annual fee of $550 per year. You can also add authorized users to the card at a rate of $75 per year.
Penalty APR
If you do not make your minimum payments by the due date, you will be charged a penalty APR of up to 29.99%. You’ll also pay the same rate for returned payments.
Balance Transfer Fee
The balance transfer fee for this card is $5 or 5% of the transaction amount. Typically, the largest amount of the two will be considered when computing the fee.
Cash advance Fee
The card also features a cash advance fee of $10 or 5% of the advance amount. That means if you take an advance of $300, you will pay a $15 fee.
In addition to this card, you may have other cards that are not listed in MoneyGeek’s analysis. Different people may choose different cards depending on several factors such as the fees, rewards and category-specific perks. If you are unsure about getting the Chase Sapphire Reserve card, you can compare it with other MoneyGeek recommended travel cards. To obtain the necessary information for this comparison, you can check out your last billing statement or the provider’s mobile app or online account. You may also find some useful information on the credit card agreement database, which is maintained by the Consumer Financial Protection Bureau.
For travelers who are not planning to use the card for travel and dining, this card may not offer the best benefits and rewards.
One of the essential factors to consider before making the Chase Sapphire Reserve your first card is your creditworthiness. If you do not have exceptionally good credit, you may need to consider other options. Also, while there is a signup bonus associated with the card, you will need to spend at least $4,000 within three months to qualify.
The Chase Sapphire Reserve benefits are substantial for travelers who dine out regularly, either in their home city or while traveling. If you want to get this card to supplement your other cards, consider the high annual fee of $550. However, with the Chase reward program, you may save on this fee by redeeming your points for dining and travel.
MoneyGeek’s credit card assessment process incorporates various detailed steps. For this research, MoneyGeek started by collecting essential credit card data from the Consumer Finance Protection Bureau, then used this data to generate standard data points and spend profiles. We then listed the bonuses associated with each card. This information is then updated each month.
The Chase Sapphire Reserve card offers travelers some of the best perks and rewards despite its annual fees. Travelers with excellent credit can use the card to maximize their points and ensure maximum comfort during their trips. However, comparing it with another card can help you determine if it’s the best card for your wallet.
Chase Sapphire Reserve
American Express Platinum Card
When considering the Chase Sapphire Reserve card, you may come across several frequently asked questions. Here are some answers to the most common customer questions.
With the Chase Sapphire Reserve review from MoneyGeek, travelers can determine whether this card offers their ideal benefits and rewards. If you are still unsure of your decision to apply for this card, you can check out various other options that will give you cash back, gas rewards or general rewards.
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