Chase Sapphire Reserve Card Review 2024: Full details

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The Chase Sapphire Reserve® has long been considered one of the best premium credit cards, and for good reason. In addition to earning some of the most valuable rewards, it has top-tier built-in protections, an incredibly easy-to-use annual travel credit and airport lounge access that’s continually expanding.

If you’re interested in applying for a travel credit card with supercharged perks, CNBC Select breaks down the rewards, benefits and fees of the Chase Sapphire Reserve, so you can decide if the card is worth it for you.

When approved for a Chase Sapphire Reserve card, you can earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. These points are worth $600 in cash back and over $900 in flights, hotels, car rentals and cruises booked through Chase Travel^SM.

Chase also has a long list of travel partners to which you can transfer your points at a 1:1 ratio, including airline and hotel loyalty programs such as Marriott Bonvoy, Southwest Rapid Rewards and World of Hyatt. By utilizing these partnerships, you can potentially get even more value from your welcome bonus.

The Chase Sapphire Reserve has a long list of perks, partnerships and protections that can easily offset its $550 annual fee.

The most straightforward benefit is its $300 annual travel credit. Every year, the first $300 in eligible travel purchases you make with your card are reimbursed. This includes flights, hotels, rental cars, public transit, cruises, campgrounds, parking and more.

You can also take advantage of:

• Global Entry, NEXUS or TSA PreCheck® credit: Get up to $120 in statement credits every four years for application fees
• Airport lounge access: You can enroll to receive unlimited access to Priority Pass lounges, including Chase Sapphire Lounge by The Club locations and select Air Canada lounges.
• DoorDash perks Enroll to receive a minimum of one year of complimentary DoorDash DashPass membership when you activate by Dec. 31, 2027. In addition to the standard DassPass benefits, you’ll get a monthly $5 credit and up to $20 in monthly non-restaurant credit (up to two $10 credits).
• Lyft discounts: You’ll receive two years of complimentary Lyft Pink All Access membership when you activate by Dec. 31, 2024 (worth $199 per year), which includes 5% off Standard and XL rides, free priority pickup and more.

This is also one of the best credit cards for travel and shopping insurance. It features just about every type of coverage you could reasonably expect with a credit card. Plus, many of these protections have more generous terms compared to similar coverages. Eligible purchases made with your card are covered by the following:

• Purchase protection
• Return protection
• Extended warranty protection
• Roadside assistance
• Auto rental collision coverage (primary)
• Baggage delay insurance
• Lost luggage reimbursement
• Trip cancellation/interruption insurance
• Trip delay reimbursement
• Travel accident insurance
• Travel and emergency assistance
• Emergency evacuation and transportation
• Emergency medical and dental

It’s easy to quickly amass Chase Ultimate Rewards® points with the Chase Sapphire Reserve, especially if you spend a lot on travel or eating out. It earns points at the following rates:

• 10X total points on hotels and car rentals booked through Chase Travel℠*
• 5X total points on flights booked through Chase Travel℠*
• 3X points on other travel*
• 3X points on dining
• 1X points on all other purchases
• 10X points on Lyft rides through March 2025
• 10X points on eligible Peloton purchases over $250 through March 31, 2025 (max earn of 50,000 total points)

*After the first $300 in travel spending each year

Redeeming

You can redeem Chase Ultimate Rewards® points in all sorts of ways. If you like to keep it simple, you can get one cent per point in value for cash back, gift cards and more. You can boost your points value when you use them for travel. With the Sapphire Reserve, you’ll receive a 50% boost in value for bookings you make through Chase Travel℠. That means you’ll get 1.5 cents per point toward cruises, flights, rental cars, hotels and more.

Having a Sapphire Reserve card allows you to transfer your points to Chase’s travel partners at a 1:1 ratio. These partner loyalty programs include:

• Aer Lingus AerClub
• Air Canada Aeroplan
• British Airways Executive Club
• Emirates Skywards
• Flying Blue (Air France/KLM)
• Iberia Plus
• JetBlue TrueBlue
• Singapore Airlines KrisFlyer
• Southwest Airlines Rapid Rewards
• United MileagePlus
• Virgin Atlantic Flying Club
• IHG Rewards Club
• Marriott Bonvoy
• World of Hyatt

Transferring points can be the best way to use Chase points. For example, you could transfer 34,000 points to Iberia and book a one-way off-peak business-class award to Spain from cities such as Boston or New York. You could use those same points to book a luxury hotel with World of Hyatt. Standard awards at Category 7 Hyatt hotels cost 30,000 points per night. Locations in this category include luxury hotels and resorts such as the Park Hyatt Vienna and the Grand Hyatt Kauai Resort & Spa.

The Platinum Card® from American Express is the ultimate luxury card. It gets you access to one of the largest airport lounge networks, including Priority Pass lounges, Lufthansa lounges, American Express Centurion Lounges, Escape Lounges and Delta Sky Clubs (enrollment required; terms apply). You can earn over $1,500 in credits every year for travel, entertainment and shopping. It also earns American Express Membership Rewards points, which transfer to 21 airline and hotel loyalty programs.

You wouldn’t have to utilize all of the Amex Platinum Card’s benefits to justify its $695 annual fee (see rates and fees), but its perks are more complicated to maximize than what the Sapphire Reserve offers. The Sapphire Reserve’s $300 travel credit is easy to use and applies to lots of purchases. You’ll have to jump through additional hoops to use the Amex Platinum’s credits, including enrolling in certain programs or selecting an airline, and many of the credits are doled out on a monthly or semi-annual basis. Although the Sapphire Reserve offers fewer perks, it’s easier to manage.

Learn more: The Platinum Card® from American Express

Chase Sapphire Reserve vs. Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card is an excellent beginner travel credit card that offers valuable redemptions alongside straightforward perks. It gives you useful travel protections such as trip delay reimbursement and primary rental car coverage. It earns valuable Chase Ultimate Rewards points and unlocks 1:1 transfers to Chase travel partners. Plus, it only has a $95 annual fee.

The Sapphire Preferred makes sense is you won’t get much value out of the Sapphire Reserve’s airport lounge access or additional benefits. With the Sapphire Preferred, you have a much smaller upfront cost and you still have the option to transfer points. It also has a $50 annual hotel credit for bookings through Chase Travel^SM, which helps offset its already reasonable annual fee.

Learn more: Chase Sapphire Preferred® Card

If you travel frequently and want a simple luxury credit card, the Chase Sapphire Reserve is a good fit. It earns valuable travel rewards and the card’s perks make it easy to justify the cost.

However, anyone looking for a more affordable option can get some of the same great benefits with the Chase Sapphire Preferred® Card. This card has a $95 annual fee and still offers many of the same travel and purchase protections. Plus, it also enables point transfers to all of the same partners at the same 1:1 ratio.

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For rates and fees of The Platinum Card® from American Express, click here.