Key takeaways

The Chase Sapphire Reserve® card offers leading travel benefits, including a $300 annual travel credit and extensive trip protection coverage.
The Sapphire Reserve is an excellent choice for rewards on travel, dining and online grocery purchases.
Make sure to take advantage of monthly credits, since they don’t roll over.
Maximizing your reward point value takes a little more effort than your average rewards card.

The Chase Sapphire Reserve® is one of the most popular travel credit cards on the market, especially for frequent travelers looking for top travel benefits. The card offers industry-leading travel protection and solid rewards rates on travel.

Although the card has a high $795 annual fee, you can more than make up for that with the card’s perks and credits. Let’s take a look at everything the Chase Sapphire Reserve has to offer and the best ways to maximize the card’s features.

Benefits at a glance

Here’s an overview of the rewards rates and benefits of the Chase Sapphire Reserve. According to Bankrate’s valuations, Ultimate Rewards points are worth an average of 2.0 cents each.

Rewards rates and welcome offer

Earn 125,000 Ultimate Rewards points after spending $6,000 in the first three months. This welcome bonus can be worth as much as $1,200 when redeemed for travel through the Chase Travel℠ portal.
3X points on dining at restaurants (including eligible delivery services, takeout, and dining out) and on other travel purchases after you’ve spent your first $300 on travel purchases (6 percent value)
10X points on hotels (excluding The Edit℠) and rental cars booked through the Chase Travel portal after you’ve spent your first $300 on travel purchases (20 percent value)
5X points on air travel booked through the Chase Travel portal after you’ve spent your first $300 on travel purchases (10 percent value)
10X points on Chase Dining purchases with Ultimate Rewards (20 percent value)
5X total points on Lyft rides through September 2027 (10 percent value)
10X points on Peloton equipment and accessory purchases of $150 or more (up to 50,000 points) through December 31, 2027 (20 percent value)
1X points on everything else (2 percent value)

Chase Sapphire Reserve statement credits

The Chase Sapphire Reserve offers credits in a variety of areas which can offset the annual fee if you’re able to maximize them. Here’s what you can get with your card:

BenefitMaximum Annual Value

Travel credit (Up to $300 annually)	$300
DoorDash restaurant credit (Up to $5 monthly through December 31, 2027)	$60
DoorDash non-restaurant credit (Up to $10 twice monthly through December 31, 2027)	$240
Lyft credit (Up to $10 monthly through September 30, 2027)	$120
Annual fee	-$550
Total value	$170

Annual travel credit: Automatic reimbursement of up to $300 of travel expenses each account anniversary year. These purchases don’t earn rewards.
Monthly DoorDash promo credits: DashPass members get up to $25 in monthly promotional credits with a $5 monthly credit and two $10 non-restaurant credits through December 31, 2027. You need to select the promo at checkout to apply the discount.
Monthly Lyft credits: Get a $10 ride credit each month through September 30, 2027. Unused credits expire at the end of the month.

Travel benefits and protections

Chase Sapphire Reserve has exceptional travel benefits and protections. Here’s an overview of the Chase Sapphire Reserve benefits you receive with your card:

Airport lounge access
The Sapphire Reserve provides excellent airport lounge access for the primary cardholder and two guests. Additional guests are charged $27 per person (no charge for children under two). You’ll get complimentary access to Chase Sapphire Lounges and a Priority Pass Select membership, giving you access to more than 1,300 airport lounges worldwide. The Sapphire Reserve is the only card offering complimentary Sapphire Lounge access.
Hotel benefits
Chase Sapphire Reserve hotel benefits also include access to The Edit, formerly known as the Luxury Hotel and Resort Collection. The Edit includes over 1,000 hotels and resorts that offer special benefits for cardholders, such as:
- Complimentary room upgrades
- Daily breakfast for two people
- $100 property credits for activities like spas or dining experiences
- Early check-in and late check-out if available
- Complimentary Wi-Fi
You’ll also get elite benefits at select properties with Relais & Châteaux, a prestigious collection of luxury properties in over 60 countries.
Additional travel benefits
Your Chase Sapphire Reserve also provides the following travel benefits:
- Visa Infinite Concierge: Receive help through Visa Infinite’s concierge hotline for booking reservations and event tickets, choosing restaurants and activities and gaining access to other personal services.
- Reserved by Sapphire℠: Get VIP exclusive access to unique experiences, early ticket access and priority seating.
- TSA PreCheck, Global Entry or NEXUS credit: You’ll get a statement credit of up to $120 to cover the application fee for TSA PreCheck, Global Entry or NEXUS once every four years.
- No foreign transaction fees
- Special car rental privileges: Get enhanced benefits with several programs through Chase Travel.
Travel protections
The following travel insurance and protection options (among others included with the card) may come in handy if your travel is disrupted for any covered reason.
Trip cancellation/interruption insurance
With trip cancellation and interruption insurance, you’ll get reimbursed for up to $10,000 per traveler (up to a maximum of $20,000 per trip, $40,000 maximum per 12-month period) for any nonrefundable travel expenses. Coverage begins on the initial deposit or booking date and ends at the point and time of departure on your scheduled departure date.
Trip delay reimbursement
Receive up to $500 per ticket in lodging and food reimbursements if your travel is delayed more than six hours or to the extent that it requires an overnight stay.
Baggage delay insurance
You’ll get up to $500 worth of baggage delay insurance ($100 per day for essential purchases for up to five days) if your baggage is delayed more than six hours with a passenger carrier.
Lost luggage reimbursement
Checked and carry-on baggage each have a maximum benefit of $3,000 per person per trip. There’s a $500 sub-limit for jewelry, watches and certain electronics.
Primary auto rental collision damage waiver
You’ll get primary auto rental coverage for theft or damage (up to $75,000 per rental agreement) when you pay for an eligible rental car with your card and decline the collision damage waiver at the rental company counter. Rental periods up to 31 days are covered. Exclusions and restrictions apply.
Emergency evacuation and transportation
Receive up to $100,000 worth of emergency medical evacuation expenses for yourself or an immediate family member.
Emergency medical and dental coverage
If you get sick or injured on a covered trip, you’ll be covered up to $2,500 ($50 deductible) in expenses. If your physician determines that you should recover in a hotel before traveling home, you may be eligible for an additional $75 per day for a 5-day maximum.
Roadside assistance
Receive as much as $200 worth of roadside assistance protection ($50 per incident) within a year. Assistance will be provided for one service event from the same issue caused during a consecutive 7-day period.
Travel accident insurance
In the event you die or lose a limb in a travel accident (plane, bus, cruise or train), you or your beneficiaries will be entitled to up to $1 million in insurance benefits.

Shopping protections and benefits

Beyond the Chase Sapphire Reserve’s exceptional travel perks, you’ll enjoy standard shopping protections and benefits to protect your purchases. Keep in mind you’ll need to charge your purchase to your card for the benefits to apply.

Complimentary DashPass membership
Your card comes with a complimentary DashPass membership for 12 months when you activate your membership by December 31, 2027. You must use your eligible card to receive DashPass benefits.
Purchase protection and zero fraud liability
Receive reimbursement for up to $10,000 per claim (maximum of $50,000 per year) for stolen or damaged new purchases within 120 days of purchase. You’ll also qualify for zero fraud liability protection on your purchases.
Return protection
Get reimbursed for up to $500 per item that a retailer won’t accept a return on within 90 days of your purchase, up to a maximum of $1,000 per year.
Extended warranty
Get an additional one-year extension of a manufacturer’s warranty of three years or less. Coverage is limited to the original purchase price, less shipping and handling fees, with a $10,000 maximum per claim (maximum of $50,000 per account).
“Pay Over Time” feature
Chase’s buy now, pay later plan (formerly called “My Chase Plan”) lets you break purchases of $100 or more into a series of smaller, fixed payments. Once your plan is set up, your purchases won’t accrue interest, but you will pay a set monthly fee to access the program.
Chase Offers and Shop Through Chase
Chase Sapphire Reserve cardholders can access shopping promotions through Chase Offers and Shop Through Chase that earn you extra points or statement credits on your everyday purchases with specific merchants.

Like many Chase cards, the Sapphire Reserve is subject to Chase’s unofficial “5/24 Rule”, meaning that if you’ve applied for five or more cards from any issuer in the past 24 months, you won’t be eligible for the card.

Maximizing your Chase Sapphire Reserve

Although the Sapphire Reserve charges a hefty $795 annual fee, you can return far more in value if you follow these tips to maximize your card:

Earn the welcome bonus

Your main objective when opening any new rewards card is to earn your welcome bonus. If you miss the opportunity to rake in a massive haul of bonus points as a new cardholder, you won’t get a second chance with that card. The standard welcome offer of 125,000 points after $6,000 in spending in the first three months can be worth around $1,200 when redeemed through Chase Travel. This offer can pay for the cost of the card twice over or easily afford you a round trip flight or two.

Use your card for travel and dining purchases

The Sapphire Reserve is one of the most valuable options to use for rewards on travel and dining purchases. The travel category also covers a wider range of categories than many other issuers that offer bonus points for travel. For example, airport parking counts as a travel purchase, which isn’t always the case with other cards. Also, booking travel on your card (even with points) qualifies you for Chase’s top-tier travel protections in the event that something happens, giving you peace of mind when planning your travel.

Utilize your credits

The quickest way to offset your annual fee is through utilizing the Sapphire Reserve’s credits. The annual travel credit automatically applies to qualifying purchases after your account anniversary, so as long as you travel and use your Sapphire Reserve card to pay for it, you’re already offsetting that fee. You can use it all at once or you can cover multiple expenses until you reach $300 in credits.

The monthly DoorDash and Lyft credits can be more of a challenge to use and possibly offer less value. For example, Lyft credits are only good for rides, so if you don’t need Lyft for a month, you can’t roll the credit over. Also, the low amounts of the DoorDash credits won’t cover a full order. You also need to spend a certain amount to have service fees waived. Instead, you can think of these credits as a way to cover taxes and tips on your orders. An ideal use would be if you need a few groceries and don’t have time to go to the store, or you just want a quick snack from a favorite restaurant.

Combine points from other Chase cards

The best way to maximize your Sapphire Reserve’s value is to combine points to your Chase Sapphire Reserve from other Chase credit cards. If you have multiple Chase cards that earn Ultimate Rewards or cash back, you can transfer your rewards to your Sapphire Reserve and increase their value by 50 percent if you book travel through the Chase Travel portal or redeem your rewards for statement credits through the Pay Yourself Back program with the right boosted category.

If you really want to maximize pooling Chase Ultimate Rewards points, consider creating the Chase trifecta — a strategic combination of cards with the Chase Sapphire Reserve to boost your point values on every card. You could use a Chase Sapphire Preferred® instead of the Reserve, but you’d only get a 25 percent boost in your points value. Here are the cards that you can combine with your Sapphire Reserve:

Redeeming Ultimate Rewards

Chase Ultimate Rewards are one of the most versatile and valuable point currencies available. Bankrate’s valuations put the value of Ultimate Rewards points at around 2.0 cents each, although you can get even more value with the right transfer partner.

Transferring to airline and hotel partners

One of the best ways to use Ultimate Rewards is to transfer your points to any of Chase’s 14 airline and hotel loyalty program partners. You can often find substantially more value with the right redemption. Points transfer at a 1:1 rate in increments of 1,000 points. Here’s the chart of Chase’s 11 airline partners, along with their estimated transfer times:

Several Chase airline partners are part of airline alliances that can help you expand your flight options and boost the value of your points by allowing you to use points from one airline program to book a flight with the partner airline for a better rate, some of which you don’t have direct access to using Chase points. For example, you can book a flight on a Delta plane if you use Air France points, potentially for fewer points. You can often find outsized value and flexibility if you’re willing to dig a bit deeper.

You can also transfer your points to Chase’s three hotel partners. While World of Hyatt is a unique and valuable partner, the others generally don’t provide good value for your rewards. However, it could be useful to top off your balance if needed. Here are the transfer ratios and times:

Expert opinions on the Chase Sapphire Reserve

The Chase Sapphire Reserve is one of the top travel cards you can get — but it’s not right for everyone. Here’s some more insight from our experts to help you determine if it’s worth spending extra money on the card, and what alternatives are available if the Reserve doesn’t fit the bill for you.

How we rank the Chase Sapphire Reserve

The Sapphire Reserve won a Bankrate Award as part of the best travel card combination and is featured on several of our “Best of” lists. Here’s where and why our experts view the Sapphire Reserve as a top choice:

The bottom line

If you’re a frequent traveler, you might find that the Chase Sapphire Reserve travel benefits outweigh the card’s $550 annual fee — especially when you consider the $300 annual travel credit and the 50 percent increase in value when you redeem your points for travel through Chase Ultimate Rewards.

However, if the card’s $795 annual fee is making you nervous, take the time to compare it to the Chase Sapphire Preferred® Card to see which best fits your needs.

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.

Key takeaways

Benefits at a glance

Rewards rates and welcome offer

Chase Sapphire Reserve statement credits

Travel benefits and protections

Airport lounge access

Hotel benefits

Additional travel benefits

Travel protections

Trip cancellation/interruption insurance

Trip delay reimbursement

Baggage delay insurance

Lost luggage reimbursement

Primary auto rental collision damage waiver

Emergency evacuation and transportation

Emergency medical and dental coverage

Roadside assistance

Travel accident insurance

Shopping protections and benefits

Complimentary DashPass membership

Purchase protection and zero fraud liability

Return protection

Extended warranty

“Pay Over Time” feature

Chase Offers and Shop Through Chase

Ryan Flanigan

Chase Sapphire Reserve benefits guide