Chase Sapphire Reserve® Credit Card Review

Overview

Chase Bank is one of the oldest and largest banks in the US, with a nationwide network of more than 4,700 branches. The bank has 39 personal and business credit cards available, including numerous cash back and travel rewards cards. Chase has issued more than 149 million credit cards to customers.

The Chase Sapphire Reserve® card is Chase Bank’s highest-tier personal rewards card. It’s designed for high-spend individuals who travel frequently. The card’s statement credits and points multipliers more than pay for the annual fee if you spend a lot on hotels, flights, car rentals, and other travel purchases each year.

Suitable for?

The Chase Sapphire Reserve® is designed for individuals who both travel frequently and spend a lot on travel. Most of the card’s benefits are geared towards travel purchases, with the biggest points multipliers available for hotels, rental cars, and flights. Free TSA PreCheck enrollment and Priority Pass lounge access will be most useful for people who fly often.

Since the annual fee is quite high, you need to spend a fair amount annually to make this card worth it. Ideally, you should be able to meet the $4,000 spend requirement to claim the welcome bonus. You should also be able to take advantage of the full $300 annual travel credit every year.

The card does have some dining rewards. However, these aren’t enough on their own to make the annual fee worthwhile, especially when compared against other dining rewards cards.

The Chase Sapphire Reserve® requires a minimum credit score of 720, so it’s only available to individuals with good to excellent credit.

Interest Rates and Fees 

The Chase Sapphire Reserve® card comes with an annual fee of $550. The fee is not waived for the first year. You’ll also pay an additional $75 per year for any authorized users on your account other than the primary cardholder.

The card carries an interest rate of 21.74% - 28.74% Variable. Your rate is determined when you are approved for the card. 

There are no foreign transaction fees.

Rewards & Cash Back

The Chase Sapphire Reserve® is loaded with rewards:

• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
• $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
• Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 60,000 points are worth $900 toward travel.
• 1:1 point transfer to leading airline and hotel loyalty programs
• Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $120 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance and more.
• Member FDIC

The Application Process

You can apply for the Chase Sapphire Reserve® online or in person at any Chase Bank branch. To apply online, you must provide your name, birth date, contact information, social security number, employment status, and annual income.

Chase will run a hard credit check and return an approval decision instantly in most cases. You must have a minimum credit score of 720 to qualify for the Chase Sapphire Reserve®.

If you’re approved, Chase will mail your new card to you. It typically arrives in 3-5 days.

Help & Support

Chase offers 24/7 phone support for cardholders. You can also schedule a call or visit a local Chase Bank branch for help. Phone wait times are typically no more than a few minutes.

Security

Chase takes customer security very seriously. Your account is protected by biometric and two-factor authentication. A security dashboard shows all of the merchants that have stored your card information and all linked services that have access to your card information. You can also set up custom purchase alerts.

You’re never liable for fraudulent purchases on your card. It’s easy to temporarily lock it or report it lost or stolen.

FAQ

How do you redeem Chase Sapphire Reserve® points?

You can redeem points earned with your Chase Sapphire Reserve® card through the Chase Travel℠ portal. Points can be redeemed for travel purchases, merchandise, or a statement credit.

Can I have both the Chase Sapphire Reserve® and Chase Sapphire Preferred®?

You can only be the primary cardholder on one Chase Sapphire card. That means that you must choose between the Chase Sapphire Reserve® and Chase Sapphire Preferred®. You can switch cards in the future.

Conclusion

The Chase Sapphire Reserve® card is a premium travel rewards card that’s hard to beat for anyone who spends a lot on travel each year. The annual fee is expensive, but the card offers up to $1,300 in value in your first year between the welcome bonus and statement credits. Benefits like 10X points on travel purchases, free lounge access, and trip interruption insurance make the annual fee well worthwhile in subsequent years.

Methodology

This review was based on information on the Chase website and my personal experience as a Chase Sapphire Preferred® cardholder.