Is the Chase Sapphire Reserve Card Worth It?

The Chase Sapphire Reserve continues to hold up as one of the best premier credit cards available, even in the face of continued pressure from American Express’ Platinum card and Capital One’s Venture X card.

When first introduced, the Sapphire Reserve offered a lucrative 100,000-point sign-up bonus after meeting the card’s minimum spend. While the offer has now since fallen to 60,000 points and I don’t expect it to increase anytime soon, those 60,000 points are still worth an estimated $1,230 based on the most recent points valuations.

Chase Ultimate Rewards points are among some of the most valuable points out there – with 11 airlines and 3 hotel transfer partners, you can generally always find a way to use Chase points for your next trip. I’d rank these points at the top of list of points currencies given their flexibility and ease of use, and their high value is generally a consensus among points chasers.

While the Chase Sapphire Reserve’s annual fee of $550 may sound steep initially, after breaking down the benefits the card offers, the value of the card speaks for itself. This is a card that you can very easily break even, and even come out ahead by $575, if you utilize the perks offered.

The Sapphire Reserve’s world-class perks include:

• 3x points on travel and dining
• $300 Annual Travel Credit
• $325 Chase Lux Hotels and Resorts Collection Credits
• $199 Lyft Pink Annual Membership for two years (a benefit of almost $400)
• $100 Global Entry/Precheck Credit
• Chase Sapphire Lounge by The Club Access
• Chase Offers

3x Points on all Dining and Travel – The Sapphire Reserve’s 3x earning power on travel and dining make this my go-to card for the bulk of my spending. If entertainment makes up a significant portion of your annual budget as it does for me, then this card’s supercharged earning power and the resulting points earned can help you accumulate meaningful points that you can apply to future travel. Between some strategic planning with transfer partners and utilizing points within the Chase Portal, I’ve gotten over $15,000 in travel over the last five years with this card.

If you’re considering whether the 3x points are worth it in lieu of the next best option, a 2x point card like the Venture X, I’d generally recommend that if your overall travel and dining spend is close to $2,000 per month, than the Sapphire Reserve card is certainly worth it as the incremental point alone is worth $250 – covering the remaining annual fee after utilization of the travel credit.

$300 Annual Travel Credit – The Sapphire Reserve’s annual fee is immediately offset with the $300 annual travel credit, which is applied directly to your statement as any travel costs are incurred – including airfare, hotels, trains, taxi and rideshares, and even parking garages. This perk alone cuts the fee from $550 down to a manageable $250.

$325 Chase Luxury Hotel & Resort (LHR) Collection – The Chase LHR Collection is Chase’s answer to Amex’s Fine Hotels & Resorts program and Capital One’s Premier Collection, and consists of over 900 carefully curated hotels, resorts, and spas. Benefits of Chase’s LHR Collection include:

• $225 – Daily breakfast for two for the duration of your stay, valued at $225 for a three-night stay. Keep in mind this can be used for the entire stay, resulting in potentially even more value.
•  $100 – Property credit to be utilized on food and beverage, spa services, or other property experiences
• Room upgrades upon arrival when available
• Welcome Gift
• Early check-in and late check out when available

Sapphire Lounge Access – Yet Again Chase upped the ante by rolling out a new line of first-of-its-kind Sapphire Lounges. Sapphire Lounges are accessible only to Sapphire Reserve cardmembers and authorized users. The lounges are currently open in Boston’s Logan International Airport and Hong Kong’s Hong Kong International, and soon to be in Las Vegas, New York’s LaGuardia, Philadelphia, Phoenix, and San Diego. In addition to a secluded space to work or relax, private bathrooms and showers, and wellness areas with bookable amenities, the lounges offer seasonal inspired dishes by award-winning chefs, curated selections of local beverages (think local craft beers), craft cocktails and curated wine lists, and local coffee and tea. While Chase wasn’t the first to market with these lounges, their strategy is to do what the others have done, better, and I can’t wait to check these out.

$398 Two-Year Lyft Pink All Access Membership – This under-the-radar perk has been a huge point of value for me over the last two years. In addition to earning 10% on all Lyft rides as a Sapphire Reserve member, enrollment in Lyft Pink, Lyft’s VIP membership, comes with the added benefits of exclusive Lyft Pink pricing, free priority pickup upgrades, cancellation forgiveness, unlimited bike-share rides, discounts on e-bikeshares and scooters, and more.

In addition to the perks above, the card also comes with countless other benefits, including:

• Marriott Bonvoy Gold Status
• National Car Rental Executive Status
• A myriad of travel protection and insurance, including:
  • Primary Rental Car Insurance (which surprisingly not all the premium cards offer)
  • Trip Cancellation Insurance
  • Trip Delay Reimbursement
  • Baggage Delays Reimbursement
  • And more
• Two-for-one wine tastings in California’s Sonoma Valley

Last, and certainly not least, Chase has some solid rewards in their “Chase Rewards” – which is essentially a continuously rotating list of hundreds of vendors that provide no-risk offers to get 5% up to 50% back on purchases, in the form of statement credits or points – simply for using your Sapphire Reserve card.

This card is a staple in my wallet, and I continue to get value from the card year after year. The card pays for itself and if travel and dining make up a significant component of your overall spending, this card is a must. Apply using my referral code here.