Chase Sapphire Reserve Review: A First-Class Premium Travel Card

For avid travelers, the Chase Sapphire Reserve® is a good deal — even with its $550 annual fee.

Thanks to features such as an annual $300 travel credit, as well as bonus rewards that can be transferred at a 1:1 ratio to several loyalty programs, it stands out as one of the best premium travel cards available.

However, to earn the card’s highest rewards rate, you’ll have to make purchases through the Chase Ultimate Rewards® portal, which can be limiting. And while the card offers excellent overall value for those who spend heavily on travel and dining, if you can't take advantage of its more niche benefits, a different travel card could be a better fit.

» MORE: Full benefits of the Chase Sapphire Reserve®

Chase Sapphire Reserve®: Basics

Card type: Travel.

Sign-up bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®.

Annual fee: $550.

Ongoing rewards:

• 10 points per dollar spent on Chase Dining purchases through Ultimate Rewards®.

• 10 points per dollar spent on hotel stays and car rentals purchased through Ultimate Rewards®.

• 5 points per dollar spent on air travel purchased through Ultimate Rewards®.

• 3 points per dollar spent on travel and dining not booked with Chase.

• 1 point per dollar spent on all other purchases.

• Through March 2025: 10 points per $1 spent on Lyft (7 points per dollar spent on Lyft plus 3 points per dollar spent on travel).

Foreign transaction fees: None.

Other benefits:

• Up to $300 a year in statement credit automatically applied to travel purchases.

• Complimentary Priority Pass Select airport lounge membership.

• Access to Chase's Sapphire Lounges in select airports.

• Multiple hotel and airline transfer partners.

• Primary rental car coverage of up to $75,000 for theft and collision damage.

• TSA PreCheck, Global Entry, NEXUS credit, worth up to $100.

• “Reserved by Sapphire” restaurant-booking feature, which grants cardholders access to reservations at popular restaurants across the country.

• Trip delay reimbursement.

• Trip cancellation or interruption insurance.

• Lyft Pink All Access free membership for two years (must activate by Dec. 31, 2024).

How much is a point worth?

Chase Ultimate Rewards® points earned on this card are worth 1.5 cents each when redeemed for travel booked through Chase. Cardholders can also get more value per point by transferring them to Chase's airline and hotel partners.

Big sign-up bonus

The Chase Sapphire Reserve® features the following generous sign-up bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®. This is enough in many cases to cover an international round-trip flight.

To find out whether you pre-qualify for this card, check out NerdWallet’s pre-qualification tool.

Bonus rewards

Holders of the Chase Sapphire Reserve® can earn the following:

• 10 points per dollar spent on Chase Dining purchases through Ultimate Rewards®.

• 10 points per dollar spent on hotel stays and car rentals purchased through Ultimate Rewards®.

• 5 points per dollar spent on air travel purchased through Ultimate Rewards®.

• 3 points per dollar spent on travel and dining not booked with Chase.

• 1 point per dollar spent on all other purchases.

Travel and dining-related purchases made through the Chase Ultimate Rewards® portal will get you the highest rewards rates, which are lucrative for those who spend heavily in those categories.

And even for travel and dining purchases not made through the issuer, cardholders will still earn bonus rewards.

Plus, if you redeem those points through Chase for travel, they are worth an elevated 1.5 cents, which gives the card an impressive 4.5% effective rewards rate in those popular categories. That's a boon for folks who spend plenty in these areas — in the U.S. and worldwide as well.

Additionally, through March 2025, you can earn a total of 10 points per $1 spent on Lyft (7 points per dollar on Lyft plus 3 points per dollar on travel). That’s one of the highest earn rates you’ll find for ridesharing purchases on any credit card.

» MORE: NerdWallet's best credit cards for transit spending

Travel statement credit of up to $300

While many premium cards offer airline fee credits for baggage fees and other select purchases, the travel credit of up to $300 on the Chase Sapphire Reserve® covers a much broader range of travel purchases, including taxi rides, campground fees and train fares.

Because this credit is applied automatically, taking advantage of it is effortless. Use this card to pay for a $20 Uber ride and — poof! — that travel credit is applied to your credit card statement right away.

Airport lounge access and Global Entry/TSA PreCheck/NEXUS reimbursement

With the Chase Sapphire Reserve®, your next layover could be spent in an exclusive lounge with a complimentary cocktail in hand. The card comes with Priority Pass Select membership, with access to over 1,000 airport lounges internationally and meal credits at select airport restaurants and bars. Plus, you'll get access to Chase's own Sapphire Lounges, though there are currently only a couple of locations.

With the card's TSA PreCheck, Global Entry or NEXUS reimbursement, you can also speed through security and get to those swanky lounges a little sooner. The card offers reimbursement for the application fee for TSA PreCheck ($78) or Global Entry ($100) or NEXUS ($50) once every four years.

Transfer partners

With the Chase Sapphire Reserve®, you can move points to several other loyalty programs at a 1:1 ratio. Transferring points and redeeming them strategically can be incredibly lucrative. NerdWallet values the points earned on this card at more than 1.5 cents per point when transferred to some partners.

Here are Chase’s transfer partners:

Complementary cards

Like a handful of other Chase cards, the Chase Sapphire Reserve® earns Ultimate Rewards® points. That means if you already have another card in the Ultimate Rewards® family, you can generally transfer points to your Chase Sapphire Reserve®, potentially allowing you to get more value on the points earned.

Say you already have the Chase Freedom Unlimited®, which earns a minimum of 1.5% cash back on purchases, but lacks 1:1 transfer partners and bonuses when redeeming for travel through Chase. When you log on to your Chase account, you have the option of moving the rewards earned on that card to your Chase Sapphire Reserve®, where you can then transfer them to partners or book travel for 1.5 cents per point. That could effectively boost your rewards rate on the Chase Freedom Unlimited® to 2.25% or more.

» MORE: How the Chase Sapphire Reserve® fits into the 'Chase trifecta'

Sapphire Reserve vs. Sapphire Preferred

If you're looking at the Chase Sapphire Reserve®, you might also have your eye on its lower-cost sibling, the Chase Sapphire Preferred® Card. That card has an annual fee of $95, but it lacks the same rich benefits.

Which card is the better deal for you depends on your spending. For frequent travelers, the Chase Sapphire Reserve® offers far more long-term value. The Chase Sapphire Preferred® Card is a better choice for those who don’t plan on using so many perks but still want a large sign-up bonus and elevated point values.

For a more thorough breakdown of the differences, read NerdWallet's full comparison of these two cards. Here's how they stack up at a glance:

Restricting rewards

Although the Chase Sapphire Reserve® offers competitive earn rates for dining and travel spending, you’ll be able to get the highest rewards rate only if you make purchases through the Chase portal. This can significantly limit your options.

For example, restaurants available to you through the Chase Dining portal will depend on your location. This means that cardholders based in larger cities like New York, for instance, will have more options available to them than those based in smaller areas.

Similarly, to earn the card's 10x and 5x rate for travel-related spending, you’ll have to book through the Chase Ultimate Rewards® travel portal, which can prove limiting compared with buying flights or renting cars directly, for example.

Moreover, if you're not an avid spender in either of the card’s bonus categories, travel and dining, you won’t get much use out of the card. Another cash-back credit card that offers more diverse and flexible rewards options would be a better fit.

Limited lounge choice

If your go-to airport doesn’t have a Priority Pass lounge, you'll be missing out on a key benefit of the Chase Sapphire Reserve®. A better option might be The Platinum Card® from American Express.

With an annual fee more or less comparable to that on the Chase Sapphire Reserve®, this card comes with much broader airport lounge coverage, along with plenty of other top-tier benefits. In addition to giving cardholders Priority Pass Select coverage (once you enroll), the card also offers access to several other lounge networks, including AmEx's own Centurion lounges and Delta Sky Clubs (for folks flying with Delta on the same day). Keep in mind, however, that the Priority Pass Select coverage on this card no longer includes credits to select airport restaurants, unlike the Chase Sapphire Reserve®. The card also offers several other premium benefits and statement credits, including up to $200 in Uber Cash, which can be used toward free Uber rides in the U.S. (up to $15 each month, plus a bonus $20 in December). Plus, it comes with a big welcome offer.

» MORE: Credit cards with airport lounge access

High annual fee

If the $550 fee on the Chase Sapphire Reserve® is too rich for your blood — even with all of its big perks — look to the less-expensive Chase Sapphire Preferred® Card instead.

As mentioned earlier, the Chase Sapphire Preferred® Card has an annual fee of $95. It has the same 1:1 transfer partners as the Chase Sapphire Reserve® and a similarly robust sign-up bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®. Although it lacks the most attention-grabbing perks, such as the $300 travel credit, it's ideal for folks looking for a versatile travel card with a lower price. Check out NerdWallet's best credit card deals to see how these cards stack up.

Spending $550 a year on a credit card is a big deal — and probably isn’t worth it in this case if you’re not a frequent traveler. But if you fly often and can take advantage of the card's many perks, the Chase Sapphire Reserve® is worth every penny.