Chase Sapphire Reserve®

Quick Snapshot

• Annual Fee: $795
• APR: 19.49%-27.99% variable
• Rewards: 8X Chase Travel (including The Edit), 4X flights booked direct, 4X hotels booked direct, 3X dining worldwide, 1X everything else
• Bonus: 100,000 bonus points after spending $6,000 in the first 3 months
• Best For: Frequent travelers who want premium perks, airport lounge access, and maximum point value
• Credit Needed: Good to Excellent (670+)

Overview

Refreshed 2025. Chase rebuilt the Sapphire Reserve in June 2025. The annual fee went from $550 to $795 (existing cardholders on renewals after October 26, 2025), the authorized-user fee from $75 to $195, and the earning structure changed from 10X/5X/3X to 8X on Chase Travel, 4X on flights and hotels booked direct, and 3X on dining. The flat 1.5-cents-per-point travel redemption was replaced by Points Boost, which varies by booking.

The Chase Sapphire Reserve is the flagship personal travel card in the Chase Ultimate Rewards lineup. At $795 a year it is priced as a credit-stacking card rather than a simple rewards card: Chase advertises over $1,500 in annual travel value and another $1,500 in lifestyle value, and whether the card pays for itself depends almost entirely on how many of those credits you actually use.

The travel credits start with $300 applied automatically to travel purchases each account anniversary year — the most flexible version of that credit on any premium card. On top of it sit up to $500 a year for prepaid stays with The Edit by Chase Travel ($250 per booking, two-night minimum), up to $250 through 12/31/26 on prepaid Chase Travel hotel bookings with IHG, Montage, Pendry, Omni, Virgin, Minor and Pan Pacific, and complimentary IHG One Rewards Platinum Elite status through December 31, 2027. Lounge access covers Chase Sapphire Lounges by The Club plus 1,300+ Priority Pass lounges with up to two guests, and Global Entry, TSA PreCheck or NEXUS reimbursement is up to $120 every four years.

The lifestyle side adds up to $300 in dining credits ($150 January–June, $150 July–December) at Sapphire Exclusive Tables restaurants on OpenTable, complimentary Apple TV and Apple Music through 6/22/2027, a $120 DashPass membership and up to $300 a year in DoorDash promos. Used in full these more than cover the fee; used casually, the Sapphire Preferred at $95 is the better buy.

APR Breakdown

• Purchase APR: 19.49%-27.99% variable
• Balance Transfer APR: 19.49%-27.99% variable
• Cash Advance APR: 29.99% variable
• Penalty APR: None

Note: Your APR will vary with the market based on the Prime Rate. There is no penalty APR, but late payments may result in fees.

Benefits Overview

Travel Benefits

• $300 annual travel credit applied automatically to travel purchases each anniversary year
• Chase Sapphire Lounges by The Club plus 1,300+ Priority Pass lounges, with up to 2 guests
• Up to $500 a year in statement credits for prepaid stays with The Edit by Chase Travel ($250 per booking, two-night minimum)
• Up to $250 through 12/31/26 on prepaid Chase Travel hotel bookings at IHG, Montage, Pendry, Omni, Virgin, Minor and Pan Pacific
• Complimentary IHG One Rewards Platinum Elite status through December 31, 2027
• Reserve Travel Designers custom itinerary service, valued at up to $300 per trip
• Global Entry, TSA PreCheck or NEXUS application fee credit (up to $120 every 4 years)
• Trip cancellation and interruption insurance up to $10,000 per person
• Trip delay reimbursement up to $500 per ticket for delays over 6 hours
• Primary auto rental collision damage waiver up to $75,000
• Baggage delay insurance for expenses up to $100 per day for 5 days
• No foreign transaction fees

Everyday Benefits

• Purchase protection for 120 days against damage or theft up to $500 per claim
• Extended warranty protection adds 1 extra year to eligible manufacturer warranties
• Return protection for items the merchant won't take back (up to $500 per item)
• Zero liability protection on unauthorized charges

Lifestyle Benefits

• Complimentary DashPass membership ($120 value) plus up to $300 a year in DoorDash promos
• Complimentary Apple TV and Apple Music subscriptions through 6/22/2027 (a $288 annual value)
• Up to $300 a year in dining credits at Sapphire Exclusive Tables restaurants on OpenTable ($150 Jan–Jun, $150 Jul–Dec)
• Instacart+ membership
• Points Boost redemption rates on select Chase Travel bookings

Rewards & Points

• 8X points on all purchases through Chase Travel, including The Edit
• 4X points on flights booked directly with the airline
• 4X points on hotels booked directly with the hotel
• 3X points on dining worldwide, including takeout and eligible delivery
• 1X point on all other purchases

Transfer Partners: United, Southwest, Hyatt, Marriott, British Airways, Air Canada Aeroplan, Virgin Atlantic, IHG, Singapore Airlines, JetBlue and more at 1:1 ratios. The old flat 1.5-cents-per-point Chase Travel redemption is gone; Points Boost now sets the rate per booking, so redemption value varies rather than being guaranteed. Partner transfers remain the most reliable way to exceed 1 cent per point.

Welcome Bonus

Earn 100,000 bonus points after spending $6,000 on purchases in the first 3 months from account opening. Chase values 100,000 points at up to $2,000 toward select flights; through transfer partners the range is roughly $1,000–$2,000 depending on redemption. Sapphire bonus eligibility is still restricted — you generally cannot earn it if you have received a Sapphire bonus in the past 48 months or currently hold another Sapphire card.

Fees Summary

• Annual Fee: $795
• Foreign Transaction Fee: $0
• Balance Transfer Fee: $5 or 5% of the amount, whichever is greater
• Cash Advance Fee: $10 or 5% of the amount, whichever is greater
• Late Payment Fee: Up to $40
• Authorized User Fee: $195 per user

Who This Card Is Best For

Ideal For

• Frequent flyers who book multiple flights per year and want lounge access
• Hotel power users earning 8X through Chase Travel or 4X booking direct
• Premium travelers who value comprehensive insurance and concierge-level perks
• International travelers with no foreign fees and global lounge access

Not Good For

• Occasional travelers who won't use enough benefits to offset the $795 annual fee
• Budget-conscious users who prefer no-annual-fee cards with simpler rewards
• Current Sapphire holders because you cannot hold multiple Sapphire cards simultaneously

Key Pros & Cons

Pros

• 100,000-point welcome bonus, valued by Chase at up to $2,000 toward select flights
• $300 travel credit plus up to $500 for The Edit and $300 in dining credits
• 8X on Chase Travel, 4X on flights and hotels booked direct, 3X on dining
• Chase Sapphire Lounges plus 1,300+ Priority Pass lounges for you and 2 guests
• IHG One Rewards Platinum Elite status through 2027
• Global Entry, TSA PreCheck or NEXUS credit every 4 years
• Primary auto rental coverage up to $75,000
• Trip delay reimbursement kicks in at just 6 hours (vs. 12 for Preferred)
• Transfer to 14+ airline and hotel partners at 1:1
• No foreign transaction fees

Cons

• $795 annual fee is steep unless you actively use the credit stack
• $195 per authorized user, up from $75 before the refresh
• Cannot hold multiple Sapphire cards simultaneously
• 48-month restriction on Sapphire bonus eligibility
• High APR makes carrying a balance very expensive
• Lounge access has become crowded at popular airports
• Points Boost replaced the guaranteed 1.5 cents per point, so travel redemption value is no longer fixed
• Several credits are use-it-or-lose-it and split into halves, which takes planning

Alternatives to Consider

How the Rewards Add Up

Example Annual Value

That is $620 in points at a conservative 1 cent each. The card only clears its $795 fee once you add the credits: $300 travel + $500 The Edit + $300 dining + $120 DashPass + $288 Apple subscriptions. Use all of them and the card is comfortably positive; use none and you are $795 down. Points Boost and transfer partners can push point value above 1 cent, but Chase no longer guarantees a 1.5-cent floor.

Should You Get This Card?

You Should Get It If...

• You spend $5,000+ per year on travel and dining combined
• You fly often enough to regularly use airport lounge access
• You will use The Edit, dining and travel credits rather than just holding the card
• You travel internationally and need no foreign fees and global lounge access
• You want premium travel insurance with lower trigger thresholds
• You can meet $6,000 spending in the first 3 months for the bonus

You Should Skip It If...

• You travel fewer than 3-4 times per year
• You won't use the $300 travel credit or lounge access
• You already have a Sapphire card
• You prefer a lower annual fee even if it means fewer perks
• You primarily want cash back rather than travel rewards

Information verified as of July 2026. Terms and conditions apply. Please visit the issuer's website for the most current information.