It’s the top of the line card for Chase, and it’s also the owner of the highest annual fee of any credit card on the market. So is the Chase Sapphire Reserve worth it? For the first year, absolutely. The high signup bonus and $300 annual travel credit alone make the card worth $1800 minimum in the first year, which easily offsets the $795 annual fee (and that's not taking into account any of the other credits and benefits). But after that? You’re going to have to break down the variety of credits the card offers to see if it fits with your spending habits. And then combine those credits with the other perks to decide if the annual fee is worth it. If it does, then it could be a keeper for you. But the high annual fee and change into a “coupon book” style of card might price some people out of keeping this card around, both from a cost and convenience standpoint.
The Chase Sapphire Reserve comes with a 100,000 point signup bonus and a $500 travel credit to be used in the Chase Portal. You can earn the welcome offer after only $5000 of purchases in three months, which is a pretty low spend considering the value of the bonus. There is a catch with this offer, though. That $500 credit to be used on the portal is a one time use credit, meaning if you book something through the portal that costs $375, you forfeit the remaining $125 worth of credits. You can still get the full $500 value of the welcome offer, but you have to book something that costs $500 or more, which might be restrictive for some.
One of the biggest benefits the Chase Sapphire Reserve offers is an annual $300 travel credit. This credit is automatically applied to any travel purchase made with the card, and unlike the $500 welcome offer credit, it does not need to be made through the portal or all at once. It can be piecemealed throughout the year for ANY travel purchase.
But will you want to keep it beyond the first year? The Reserve has gone the “coupon” route that so many other rewards cards have turned to, so not only will you have to work harder to receive the necessary benefits to offset that $795 annual fee, but you’ll have to sit down and analyze which credits you’ll even use to figure out if the card is worth keeping.
Below are the credits the Chase Sapphire Reserve offers:
Below are additional benefits, perks, and spending multipliers:
If you spend more than $75,000 on the card in a calendar year, you unlock the following benefits:
NOTE: Big changes were made to the Chase Sapphire Reserve on June 23, 2025. If you owned this card before then, you will keep the same $550 annual fee until your next renewal date. You will also keep the same benefits as before until October 26, 2025. After October 26, you will have access to all of the above benefits, and when your annual fee is due next after October 26, it will be at the $795 rate. If you’re one of the fortunate ones whose renewal date is before October 26, 2025, you will be charged the $550 annual fee yet still have access to all the new benefits after October 26 (the higher annual fee won’t come until your next anniversary in 2026). All customers will have access to the Points Boost after June 23, 2025, but you will also still be able to book travel through the portal at a 1.5 cent per point ratio as before. In fact, you can redeem all points earned before October 26 at the 1.5x rate on the Chase Portal through October 25, 2027.
Chase Ultimate Rewards is our most valued point system.
The Chase Sapphire Reserve is the top of the line personal Chase card with the highest annual fee and the most perks. The Chase Sapphire Preferred is one step down, offering a $50 hotel credit (with only a $95 annual fee), 3x points on dining, and 2x points on travel, plus many of the same travel protections but without Priority Pass and a Global Entry/TSA PreCheck credit.
The Reserve is a great card if you are just getting started in the points game, especially if you know you will have multiple trips coming up the first year of owning it. With such a high annual fee, whether this is a “keep in your wallet forever card” is going to differ for each person depending on spending habits and whether or not you’ll organically use the coupon credits.
If you decide to get rid of this card after the first year, you can downgrade to the $95 annual fee Preferred card or a no annual fee card (Chase Freedom Unlimited or Chase Freedom Flex). If you downgrade to one of the Freedom cards, it is important to have a strategy for what to do with any points you haven’t transferred or cashed in, as you can’t transfer points to airline or hotel partners with the Freedom cards. If you are doing this 2 player style, you can transfer points between spouses with the Reserve and Preferred. If you have (or are planning on getting) Chase business card(s), then it’s crucial to still have one of the Sapphire cards because of transferring to partners, as most of Chase’s business cards don’t have transfer partners either. With the new restrictive language on the two Sapphire cards, you may want to hang on to either for transferring since we don’t know yet how strict Chase will be in approving Sapphire cards for those who have already had one.
This was the very first card we opened when we started collecting points. The principal reason was the 1.5 redemption value we get on every point. We make some big annual spends on a couple of Chase business cards -- points that we always transfer to the Sapphire Reserve card for the 50% bonus. Factor in 3 points earned per dollar spent on dining, and you're getting back 4.5% every time you go out to eat. The $550 annual fee (less the $300 travel credit) makes the Reserve a no-brainer to keep.
| Bonus Points | Minimum Spend | Point Value | Annual Value | Annual Fee |
1st Year Value
|
|---|---|---|---|---|---|
| 100,000 | $5,000 | 1.6 ¢ | $471 | $795 |
$1356
|
| Best Value | Differentiating Perks | Rules |
|---|---|---|
| Travel of all kinds | 1/48 Sapphire , 5/24 , Chase 2/30 , Chase 4/6 |
4X points
6.4¢ Per Dollar Spent
1X points
1.6¢ Per Dollar Spent
4X points
6.4¢ Per Dollar Spent
3X points
4.8¢ Per Dollar Spent
8X points
12.8¢ Per Dollar Spent
10X points
16¢ Per Dollar Spent
10X points
16¢ Per Dollar Spent
3X points
4.8¢ Per Dollar Spent
Transfer To Spouse/Partner Yes
Transfer To Friends No
Chase Ultimate Rewards Outside Point System
1:1 88% value retained
1:1 69% value retained
1:1 63% value retained
1:1 81% value retained
1:1 38% value retained
1:1 81% value retained
1:1 44% value retained
1:1 81% value retained
1:1 81% value retained
1:1 81% value retained
1:1 88% value retained
1:1 106% value retained
Since the Chase Sapphire Reserve relaunch, this is no longer a rule
Your application will be declined if 5 new cards are reported on your personal credit report in the past 24 months
You'll be declined if you apply for a third Chase card of any kind within 30 days
Chase will decline your application you apply for a 5th Chase card (personal or BUSINESS) in 6 months
Below is a snapshot of where this card performs best compared to the other cards in our database:
CHASE CARDS LIMITED TIME OFFERS - GET YOUR ULTIMATE REWARDS:
- Chase Sapphire Reserve - 75,000 points after spending $4000 in 3 months - $550/annual fee.
- Chase Sapphire Preferred - 75,000 points after spending $4000 in 3 months - $95/annual fee.
BRITISH AIRWAYS AVIOS OFFER:
- British Airways Visa - 80,000 avios after spending $5000 in 3 months - $95/annual fee.
Now with the Chase Sapphire Reserve card, earn 80,000 Bonus points after spending $4000 in 3 months. Annual fee is $550 with a $300 annual travel credit. This offer is ending soon, so if you haven't tipped the 5/24 rule you may want to consider this one.
For a limited time get 80,000 bonus points after spending $4000 in 3 months. There is a $550 annual fee that's not waived but can be offset by the $300 annual travel credit every anniversary that comes with this Chase Sapphire Reserve Card.
Chase Sapphire Reserve card is offering 60,000 Ultimate Rewards after spending $4000 in 3 months. This card comes with a $300 annual travel credit to offset the $550 annual fee.
