Chase Sapphire Reserve® review: Is Chase’s premier credit card still worth the price tag?
This premier Chase card still offers stellar value if you're a traveler who prefers luxury perks, but recent changes have made it less useful for moderate travelers.
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Snapshot
4.8
Bottom line
Best for fine dining
on Chase's secure site
See Rates & FeesIntro offer
125,000 bonus points
Rewards rate
1x - 8x
Annual fee
$795
Regular APR
20.24% - 28.74% Variable
4.3
Cardholder rating
Extra perks
Online tools
Customer service
Intro APR length
4.8
Bankrate score
Rewards value
APR
Rewards flexibility
Features
Why you'll like this: This card earns exceptionally high rates on fine dining experiences through Chase Dining and offers solid bonus rates on other travel and dining purchases.
Reward Details
Card Details
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Chase Sapphire Reserve® overview
The Chase Sapphire Reserve® isn’t just one of the best Chase credit cards. Thanks to its exceptional rewards rates, redemption flexibility, and long list of luxury travel perks and protections, the Sapphire Reserve has earned its place among the top three major premium travel credit cards.
It was the combination of massive reward value and terrific card benefits that made the Reserve the very first luxury card I added to my wallet. My family already had the other Chase Freedom cards, and adding the Reserve was a natural fit for the frequent traveling we did. And for years, it single-handedly enabled my wife and I to take numerous trips, here and abroad, including a fantastic trip to Hawaii for our honeymoon.
However, recent changes to the card’s rewards rates, point redemption values, perks and annual fee have made the card less of a “must-have” addition if you're in the Chase rewards ecosystem. Instead, you'll need to give careful thought to your travel habits as well as your willingness to chase the card's new, hyper-focused benefits.
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Rewards
- 8X points on all travel booked through Chase Travel℠
- 4X points on flights and hotel stays booked directly with airlines and hotels
- 3X points on dining
- 1X points on all other purchases
Expert Appraisal: Exceptional
See our expert analysis -
Welcome offer
- Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
Expert Appraisal: Good
See our expert analysis -
Rates and fees
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$795 annual fee
- No foreign transaction fees
- No intro APR on purchases
- No intro APR on balance transfers
- 20.24% - 28.74% Variable APR
Expert Appraisal: Unimpressive
See our expert analysis -
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Other cardholder perks
- Up to $300 of statement credits on travel purchases each account anniversary year
- Up to $500 credit for hotel bookings via The Edit portal (as two $250 credits per year, one for January to June, one for July to December)
- Valuable airport perks including complimentary Priority Pass Select lounge access after enrollment and application fee credits for Global Entry, TSA PreCheck or NEXUS
- Up to $300 credit for restaurants in Sapphire Reserve Exclusive Tables program (as two $150 credits per year one for January to June — one for July to December)
- Up to $300 in statement credits for StubHub (as two $150 credits per year — one for January to June, one for July to December)
- Up to $250 credit for Apple TV+ and Apple Music subscriptions
- IHG One Rewards Platinum Elite Status through Dec. 31, 2027
- $500 Southwest credit and Southwest A-List status when you book through Chase (available after you spend $75,000 in a calendar year).
- IHG One Rewards Platinum Elite Status through Dec. 31, 2027; can also reach IHG One Rewards Diamond Elite Status after you spend $75,000 in a calendar year).
- $250 in credit for The Shops (after you spend $75,000 in a calendar year)
- Complimentary, limited-time credits and/or other partner perks with Lyft, DoorDash, Peloton and GoPuff.
- Comprehensive travel insurance, including trip cancellation/interruption insurance, emergency evacuation and transportation coverage, trip delay reimbursement, lost luggage reimbursement and more.
Expert Appraisal: Good
See our expert analysis
Chase Sapphire Reserve pros and cons
Pros
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It offers high rewards rates on both direct travel booking and bookings via Chase Travel.
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A ton of valuable perks to help offset the annual fee, including an automatic $300 travel credit each anniversary year.
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It has one of the most robust collections of travel protection benefits available.
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As with similar elite cards, it isn't the most accessible since you'll need an excellent credit score for the best approval odds.
Cons
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It features one of the highest annual fees of any card on the market (recently increased from an already-high annual fee).
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The new “coupon book” approach means that, though valuable, perks may be tough to track and require effort to maximize.
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Points only worth 1 cent each via Chase Travel without a specific Points Boost offer.
First-year value vs. ongoing value
The most intimidating aspect of the Chase Sapphire Reserve is its new annual fee: $795. That’s one of the highest fees we’ve seen on any card on the market. It’s also a 45 percent hike from the card’s previous annual fee — a huge increase given the card’s fee was already relatively high at $550.
Justifying the fee is less of a challenge in the first year thanks to the 125,000-point sign-up bonus, which is worth at least $1,250 toward Chase travel on its own. But to make the Sapphire Reserve worth it long-term, you’ll need to take advantage of as many of the card’s features as possible, including its travel credits and partner perks.
Here’s a look at the Sapphire Reserve card’s first-year and ongoing value based on our card scoring formula and a 1-cent-per-point redemption value. In this example, we assume you haven’t met the $75,000 in annual spending to earn perks like the $500 Southwest credit.
| Benefits and Costs | First-year value | Ongoing value (no welcome offers) |
|---|---|---|
| Yearly rewards* | +$414 | +$414 |
| Welcome offers | +$1,250 value (125,000-point sign-up bonus after you spend $6,000 on purchases in the first three months) | — |
| Perks (of monetary value) |
|
|
| Annual fee | -$795 | -$795 |
| Total value | $3,518 | $1,754 |
Why you might want the Chase Sapphire Reserve
The Sapphire Reserve is hard to beat if you want a balance between between flexible rewards and enough luxury travel perks to make your trip smoother. Not only does this card carry some of the most valuable benefits available, but you may be able to rack up some of the best travel rewards value of any credit card.
Rewards: Some of the best reward rates available
While competing travel cards may also reward flights and issuer-booked hotel and rental car reservations, few offer the fantastic rewards rates you can earn through the Chase Travel portal on flights, hotel stays and rental cars (the first $300 of travel purchases are covered by annual travel credits before earning rewards).
The Sapphire Reserve goes the extra mile, though, with its additional reward opportunities that even The Platinum Card® from American Express and Capital One Venture X Rewards Credit Card don’t provide. You’ll be able to earn 8X points on Chase purchases (through the Chase Travel portal) and 5X on Lyft rides (through September 30, 2027) — perhaps the highest travel and rideshare rewards rates available.
For a long time, the Reserve was my go-to card for booking travel for this reason, and we rarely traveled to a destination that wasn't available through the portal.
However, you’ll probably get even more use out of the generous 3X points on dining and 4X on general travel, which are remarkably versatile considering they aren’t limited to just restaurants or flights and hotels. In fact, these are some of the most comprehensive travel and dining categories on the market.
Redemptions: Flexible points with high potential value
With the Chase Sapphire Reserve, you have a chance at terrific redemption value with the card’s new “Points Boost” program.
With Points Boost, you can redeem your points at a value of 2 cents through Chase Travel. But here's the catch: not all bookings are eligible. Only flights and hotel stays highlighted as qualifying for Points Boost will enjoy this high redemption value. Other bookings offer just 1 cent per point in value (though cardholders who had the card or applied before June 23, 2025, can redeem any points earned prior to Oct. 26, 2025 at a 1.5-cent-per-point value until Oct. 26, 2027).
If you can consistently find bookings eligible for Points Boost, this card can hold terrific value compared to other premium travel cards, which typically offer a 1-cent-per-point redemption value on all bookings.
Perks: A ton of value and variety
Alongside the card's massive boost to its annual fee, the perks are where the Reserve has received the most notable changes. Specifically, the card has greatly increased the number and variety of perks available to cardholders. Using all of these perks and benefits brings in a value well over the price of the card's annual fee.
Here's another quick look at the perks available:
- +$300 (Annual travel credit)
- +$30 (TSA PreCheck/NEXUS/Global Entry application credit; up to $120 every four years)
- +$299 (Priority Pass Select membership)
- Up to $420 (One year of complimentary DoorDash DashPass, plus up to $25 in monthly DoorDash promos; must activate by Dec. 31, 2027)
- Up to $500 credit for hotel bookings via The Edit portal (as two $250 credits per year, one for January to June, one for July to December)
- Up to $300 credit for Sapphire Reserve Exclusive Tables program
- Up to $300 in statement credits for StubHub
- Up to $250 credit for Apple TV+ and Apple Music subscriptions
You're looking at a potential value in airlines, hotels, food delivery, dining, entertainment, and streaming services of up to $2,399.
But as with most things pertaining to rewards cards, the devil is in the details. Most of these credits have strict spending requirements on how you earn them. For example, the restaurants participating in the Sapphire Reserve Exclusive Tables program are only available in select cities. If you don't live in a city featuring one of these restaurants, your $300 dining credit will become much more difficult to utilize.
As someone who likes to keep things simple, I much preferred the old version of the Reserve when it comes to perks. There was certainly less value in the card, but I was primarily concerned with offsetting the card's annual fee — something that I could practically do with just the annual travel credit before.
The new perks are all things that I'd have to go out of my way to achieve and spend money where I wouldn't have typically made purchases. For example, I almost never book hotels during travel, mostly sticking to other forms of lodging.
In short, whether this card's perks are worth your time (and the cost of the annual fee) depends on how much they align with your usual spending habits. You'll want to carefully assess each perk and your spending to see if the card makes sense in your wallet.
Travel protections: A cut above the rest
Although they don’t carry a monetary value, the comprehensive roster of travel protections sets the Sapphire Reserve apart from the crowd. The Sapphire Reserve goes toe-to-toe with the Amex Platinum as one of the best cards for travel insurance thanks to its coveted trip cancellation/interruption insurance, emergency evacuation and transportation coverage, trip delay reimbursement, lost luggage reimbursement and more. Few cards protect your travel plans like the Sapphire Reserve, and emergency evacuation and transportation coverage is an incredibly rare safeguard.
Why you might want a different travel card
The Sapphire Reserve brings plenty of reward opportunities and valuable perks to the table, but the hefty annual fee, variable point redemption values and new “coupon book” approach to perks might push some cardholders to alternative cards.
Rates and fees: One of the highest annual fees
Since the Sapphire Reserve is one of the highest-caliber premium travel rewards cards, its annual fee is similarly one of the highest you’ll find. In fact, it sits right at the top of the “big three” luxury travel cards, aboveabove the Amex Platinum Card ($695 annual fee) and the Capital One Venture X ($395 annual fee - See Rates & Fees).
While you could argue you get what you pay for, that’s still a hefty price to pay. Not to mention, the Sapphire Reserve’s new perks don’t necessarily elevate it above the (now-cheaper) Amex Platinum. Both cards offer a slew of valuable but niche credits to justify their cost, so it really depends on which benefits you value most.
Personally, the bump to the card's annual fee was an unwelcome surprise. The more modest annual fee of $550 was much more my speed. I could book some travel on the card using the $300 travel credit, use a few Priority Pass dining credits, and be within a stone's toss of covering the rest of the annual fee with rewards.
Now, I feel like I'd need to lay out a spreadsheet or advanced spending plan to offset the cost of the card. Many of the perks are a little too niche for me to obtain with my normal spending. And now that my family is knee-deep in parenthood, we've been traveling far less often, making even that $300 annual travel credit difficult to obtain.
Of course, you may be a power-traveler and have no issue chasing down these perks. But the increased effort required to offset the high fee makes the card less of an easy recommendation than before.
Welcome offer: Solid bonus but high spend
You'll need to spend $6,000 in your first three months as a cardholder to earn the 125,000 bonus points. That's $2,000 more than some of its previous offers.
That said, the bonus is very valuable, even if you’re stuck at a 1-cent-per-point redemption value. Assuming no Points Boost offers, this bonus would be worth $1,250 for Chase travel bookings. You may even be able to get a higher point value with the right transfer partner, but that’s far from guaranteed.
If you’re comparing luxury travel cards and looking for the highest sign-up bonuses available, this card may not be the best fit at the moment. However, long-term value is likely a bigger draw at this caliber of premium travel cards, which is the Sapphire Reserve card’s biggest strength.
Luxury: Not as many hotel and airport perks as rival cards
The Sapphire Reserve is one of the best cards for travel perks, but some competitors have a stronger selection of luxury perks when it comes to airports and hotels — or at least a few similar perks for a much lower annual fee.
For example, the Sapphire Reserve card’s Priority Pass Select airport lounge access is quite valuable. However, the Venture X also provides Priority Pass Select membership, plus Capital One lounge access, Premier Collection hotel perks (including experience credits) and Hertz President’s Circle® status for rental cars — and all for a lower annual fee.
Meanwhile, the comparably priced Amex Platinum provides access to Priority Pass Select lounges (with required enrollment), plus access to Plaza Premium, Delta Sky Lounges and Escape Lounges that Sapphire Reserve cardholders don’t have. The Sapphire Reserve also doesn’t offer membership credits for the CLEAR security screening service, which the Amex Platinum and a few other cards carry.
Best cards to pair with the Chase Sapphire Reserve
The Sapphire Reserve card works best with other Chase credit cards. Since many earn Chase Ultimate Rewards points, they can all be channeled into one pool and redeemed, potentially at a higher value with your Sapphire Reserve, either via Points Boost offers or point transfers. In fact, the Sapphire Reserve and several no-annual-fee Chase cards can form some of the best credit card combinations for category diversity and rewards value.
How the Chase Sapphire Reserve compares to other travel cards
The Sapphire Reserve is certainly a standout option if you're a frequent traveler who wants top-of-the-line perks and rewards value. But depending on your spending habits and the features that matter most to you, it may not be the best option. Here’s a look at how the Sapphire Reserve stacks up against its more cost-effective counterpart and the rival Amex luxury travel card.
Annual fee
Intro offer
Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
Rewards rate
Earn 8x points on all purchases through Chase Travel℠, including The Edit℠. Earn 4x points on flights and hotels booked direct. Earn 3x points on dining worldwide. Earn 1x points on all other purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
Rewards rate
Earn 5x on travel purchased through Chase Travel℠. Earn 3x on dining, select streaming services and online groceries. Earn 2x on all other travel purchases. Earn 1x on all other purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
Rewards rate
Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel®.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Is the Chase Sapphire Reserve right for me?
The Chase Sapphire Reserve isn't going to fit into everyone's wallet, especially since the increase to the card's annual fee. But it's a great choice if one of the following sounds like you:
- You're a frequent traveler and you think you'll take full advantage of the perks like the complimentary Priority Pass Select Membership, annual credit and application fee credits for Global Entry, TSA PreCheck or NEXUS can help smooth out some typical travel troubles.
- You're a rewards strategist and want to use the Reserve to squeeze even more value from your day-to-day spending made with other Chase rewards cards.
- You're a foodie who makes dining purchases within a range of dining experiences, including restaurants, takeout, mobile delivery or Chase Dining.
Steve's insight: Am I keeping this card?
The answer is no. I plan on downgrading this card to the Chase Sapphire Preferred before my next card anniversary date, which is when I'd need to pay for the card's new annual fee.
Sad as I am to part ways with the card, it's an easy decision. I don't travel nearly as much as I did just a few years ago. I simply don't think I could comfortably offset the cost of the card these days. It's the kind of decision-making that reward cards frequently demand and one that I knew would happen at some point after I opened the card.
Alternative picks
The information about the Chase Freedom Flex® has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
Frequently asked questions
How we rated this card
We rate credit cards using a proprietary card scoring system that ranks each card’s estimated average rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more against those of other cards in its primary category.
Each card feature is assigned a weighting based on how important it is to people looking for a card in a given category. These features are then scored based on how they rank relative to the features on other cards in the category. Based on these calculations, each card receives an overall rating of 1-5 stars (with 5 being the highest possible score and 1 being the lowest).
We analyzed over 150 of the most popular rewards and cash back cards to determine where each stacked up based on their value, cost, benefits and more. Here are some of the key factors that influenced this card’s overall score and how the score influenced our review:
What cardholders think
Chase Sapphire Reserve®
In May 2024 and March 2025, Bankrate collaborated with a third-party vendor to survey 8170 cardholders nationwide. Bankrate and our vendor collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder's product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate's own reviews of these cards.
Community Reviews
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.
