Dubbed by the New York Times as the First Viral Credit Card, Chase Sapphire Reserve is a premium credit card.
The Chase Sapphire Reserve is the card that kicked off many people’s interest in travel credit cards. This card was one of the first cards regular folks could get premium perks without paying several hundred dollars annually. Once the card launched in August 2016, interest skyrocketed.
Today, however, the card has more competition than ever. Across the industry, perks increased in correlation with annual fees. The Chase Sapphire Reserve is no different.
At launch, the card offered a 100,000-point intro bonus (worth between $1,500 and $2,000 on travel), $300 travel credit, and bonus points in dining, travel, and international lounge access.
Let’s go over the features of this card if it is for you, and who is eligible for it.
Who is the Chase Sapphire Reserve for?
Most people stand to benefit from the Reserve. Even average frequency travelers can take advantage of the cards’ notable perks.
This card accrues Chase Ultimate Rewards points. This program is one of the most versatile card currencies in the market. Ultimate Rewards combines easy point transfer to a host of airline and hotel partners at a one-to-one ratio and ways to use the points.
The $550 annual membership fee may be a concern. However, a $300 annual travel credit and other bonus categories chip the annual fee down to a lower effective fee.
An alternative option, of course, is to get the Chase Sapphire Preferred and then the Reserve later. The Preferred has a low $95 annual fee and a 60,000-bonus point sign-up bonus after spending $4,000 on purchases in the first three months from account opening.
The Reserve, unlike the Preferred, meshes value with an easy-to-understand benefit structure – with more benefits, of course.
Main Benefits
The Reserve has many notable benefits. These include:
• 60,000 bonus points after spending $4,000 on purchases in the first three months of account opening.
• $300 Annual Travel Credit
Chase applies the annual travel credit automatically as you make eligible purchases.
Free DoorDash Dash Pass subscription
Admittedly, this writer has been using DoorDash recently, A LOT. So saying this is useful may seem a bit biased. This benefit is possible through December 31, 2024.
Lyft Benefits
Chase’s partnership lasts through March 2025. You can get 10 points per dollar on Lyft purchases. In other words, this could be up to a 20% return on Lyft purchases – depending on the dollar amount you value Chase Ultimate Rewards points.
Global Entry or TSA PreCheck
If you are interested in Global Entry or TSA PreCheck, use this card. You can use this benefit once every four years. But if you already have this covered, then you can pay the fee for a family member or friend.
Visa Infinite Perks
Chase Sapphire Reserve is a solid option if you want additional premium benefits for your travel credit card. The CSR is a member of Visa Infinite. This program has a plethora of perks available for use. Benefits available for the Reserve include:
• Primary car rental insurance
• Visa Infinite Luxury Hotel Collection benefits
• Airline incidentals statement credit
• Trip cancellation, interruption, and trip delay
• Lost luggage reimbursement
• Extended warranty, purchase security, and return protection
• Roadside dispatch
• Three free years of Shipt (enroll by December 31, 2024)
Reward Rate
Premium travel credit cards can bestow higher earning rates for purchases. The Chase Sapphire Reserve fits this mold. Accordingly, the Reserve confers the following rewards for spending:
• Ten points per dollar on hotels and car rentals purchased through Chase Travel.
• Ten points per dollar on dining purchases through Chase Ultimate Rewards.
• Five points per dollar on flights purchased through Chase Travel.
• Three points per dollar on all other travel (excluding the $300 travel credit) and dining purchases worldwide.
• One point per dollar on everything else.
Chase Sapphire Reserve Competitors
American Express Platinum Card
The Amex Platinum Card is a frequently compared card with the Chase Sapphire Reserve. The annual fees are both on the higher end — $550 for the Reserve and $695 for the Platinum. Both grant premium, even luxury benefits.
Frequent fliers and shoppers will maximize the rewards doled out by this card to cover the annual fee. Some of the benefits cardholders receive include:
• Up to $200 in statement credits annually for incidental fees charged by one airline you select.
• Up to a $200 annual hotel credit, in the form of a statement credit, on prepaid Amex Fine Hotels + Resorts or The Hotel Collection bookings with Amex Travel when you pay with your Amex Platinum.
• Up to $179 in Clear annual credit to cover your annual membership.
• Up to $240 in annual digital entertainment credit, in the form of $20 in monthly statement credits when you pay for eligible purchases with the Amex Platinum at suitable partners.
The choice between the Chase Sapphire Reserve and Amex Platinum will come down to your lifestyle, plans, and values. Some travelers may want to access Amex’s Centurion Lounges. You can learn about Centurion Lounges in our recent review.
Others may be able to do without it.
Capital One Venture X Rewards
The Capital One Venture X Rewards offers 75,000 bonus miles after you spend $4,000 on purchases in the first three months from account opening. This values the sign-up bonus at $750. Point value increases if you use one of Capital One’s airline and hotel partners.
The benefits include:
• Statement credit: Up to $300 back in statement credit annually for bookings made through Capital One Travel.
• Anniversary bonus: 10,000 bonus miles every account anniversary, starting on your first anniversary (worth $100 toward travel).
• Lounge access: Complimentary access for cardholders, authorized users, and up to two guests per visit to Capital One Lounges and more than 1,300 Priority Pass lounges worldwide.
The annual fee is $395. Currently, users will likely recoup the entire yearly cost for the credits and perks depending on valuation. The future expansion of Capital One’s lounge network sweetens the deal. However, Capital One Venture X lacks some of the Reserve’s benefits.
And although there have been reports of Capital One lounges not being packed, as this card gains popularity, that is bound to change.
In short, Capital One Venture X has some notable features – especially the lower annual fee – compared to the Chase Sapphire Reserve. This card’s advantages will likely change over time as Capital One gets more cardholders. In times past, more popularity meant adjustments to the card program (i.e., fewer benefits and higher annual fees). We will see how this trend impacts Capital One Venture X.
Who is eligible for the Chase Sapphire Reserve?
Officially anyone who applies and gets approved can receive a card. But there is a semi-hidden additional requirement.
Chase has an unofficial, unique policy restriction: the 5/24 rule. You won’t find this policy on paper anywhere, but it is a confirmed policy by those in the industry and applicants and users of Chase cards.
Chase will deny your application if you have opened five credit card accounts with any issuer in the past 24 months. Also, automatic denial occurs for current Sapphire cardholders or previous Sapphire credit card holders who received a new cardmember bonus within the last 48 months.
Need to know if you are eligible? Call Chase and ask for your eligibility status.
Conclusion
The Chase Sapphire Reserve is an excellent choice for frequent travelers. With credits to bring the effective annual fee down much lower than the $550 on paper. Competitors offer comparable benefits. The final choice will come down to which slate of perks fit you.
