Chase Sapphire Reserve review: A premium card for power travelers

I've carried either the Chase Sapphire Reserve® (see rates and fees) or its mid-tier sibling in my wallet for a decade — and the Reserve continues to play a main role in my travel strategy.

It's one of the strongest travel rewards cards on the market thanks to high-value Chase Ultimate Rewards points, a large suite of statement credits and best-in-class travel protections. If you're willing to put in a little effort to maximize its perks, this card can easily deliver outsize value year after year. Card rating*: ⭐⭐⭐⭐½

*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.

Chase Sapphire Reserve®: — Earn 150,000 bonus points after spending $6,000 on purchases in the first three months from account opening.

Chase Sapphire Reserve: The basics

The Sapphire Reserve is Chase's premium travel card. It earns valuable, transferable Ultimate Rewards points, which are my go-to currency for high-end hotels and business-class flights.

The annual fee is steep at $795, but the value can far outweigh the cost if you use even a couple of the card's statement credits. I recoup this fee through the $300 annual travel credit and up to $500 in luxury The Edit hotel credits (minimum two-night stay required) — and everything else the card offers feels like added value.

I rely on the Sapphire Reserve for the perks I use constantly: airport lounge access when I'm traveling, hotel benefits that make stays smoother and travel insurance that has come through for me more than once.

The Sapphire Reserve is a flexible, premium rewards card designed for people who want to be hands-on with their travel strategy — it's not a passive, "set-it-and-forget-it" product.

Chase Sapphire Reserve pros and cons

Chase Sapphire Reserve benefits

The Sapphire Reserve's value largely hinges on its extensive set of travel and lifestyle benefits, which can offset the annual fee if you use them regularly.

Annual travel credit

The Sapphire Reserve's $300 annual travel credit is one of the easiest credits to use across any premium card. Chase codes nearly every travel-related expense as eligible — from flights and hotels to car rentals, train tickets and tolls.

This perk alone drops the card's effective annual fee to $495. I trigger it organically within the first month of each cardholder year, usually with a single flight or a hotel booking. Last year, it automatically covered the first $300 of public transit and ride-hailing purchases I made on a five-week summer trip through Europe.

Hotel credits

The other most valuable credit on this card is up to $500 per year in credits for The Edit, Chase's curated hotel booking platform. Cardholders receive two up-to-$250 credits per calendar year for stays of two nights or more.

Here's what I personally value with this perk:

• Many major hotel brands, including Hyatt and Marriott, participate.
• You can stack the credit with points redemptions through Chase's travel portal.
• You still earn hotel elite night credits and loyalty points because these bookings count as qualifying stays (except for Small Luxury Hotel of the World properties, part of Hilton Honors).

However, note that the credit requires prepaid bookings, a two-night minimum stay and use of a limited selection of properties — meaning it won't fit every trip or traveler.

If you use both of The Edit credits and the travel credit, you'll easily justify the Sapphire Reserve's annual fee.

As a sweetener, cardholders can receive a one-time $250 statement credit for eligible prepaid hotel stays booked through Chase Travel℠ in 2026.

Lifestyle and subscription credits

The card comes with several other recurring credits that are useful if they match your spending patterns:

• Up to $300 per year via OpenTable: Valid for dining at Sapphire Reserve Exclusive Tables restaurants; no prepayment, payment or reservation through OpenTable is required (split into two up-to-$150 biannual credits).
• Up to $300 per year with DoorDash: Up to $25 in monthly promos plus at least one complimentary year of DashPass (activate by Dec. 31, 2027).
• Up to $300 per year with StubHub/Viagogo: I attend enough concerts and sporting events that I'm practically guaranteed to use this credit (split into two up-to-$150 biannual credits; through Dec. 31, 2027; activation required).
• Up to $288 per year with Apple Music and Apple TV+: An easy, one-time activation for both services (through June 22, 2027). This allowed me to cancel my Spotify Premium subscription, saving me over $13 a month.
• Up to $120 per year with Lyft: Up to $10 each month (through Sept. 30, 2027; does not apply to Wait & Save, bike or scooter rides).
• Up to $120 per year for Peloton subscriptions: I use this when I'm traveling so I can keep up with workouts (through Dec. 31, 2027).
• Up to $120 in credits every four years for Global Entry, TSA PreCheck or Nexus: I always recommend Global Entry since it includes PreCheck.

On paper, these credits add up to significant value — but in practice, they function more like a "coupon book." You'll need to actively track and use them across different platforms and timeframes, and not all cardholders will find them easy to fully maximize.

Lounge access

Sapphire Reserve cardholders get access to:

• Eight Chase Sapphire Lounges by The Club, a growing network that's expanding faster than Capital One's lounge footprint
• Over 1,800 Priority Pass lounges worldwide (excluding restaurants) for the primary cardholder and two guests
• More than 20 Air Canada Maple Leaf Lounges when flying a Star Alliance carrier

Chase's newer lounges are shaping up to be some of the best in the U.S. and are beautifully designed with elevated food and amenities. They're not as widespread as American Express' Centurion Lounges yet, but they're expanding quickly.

Cardholders can also add authorized users for $195, who get full lounge access on their own.

Hotel and elite status benefits

The Sapphire Reserve includes IHG One Platinum Elite status (through Dec. 31, 2027), which offers:

• Early check-in and late checkout (when available)
• Complimentary room upgrades (when available)
• 60% bonus points on stays

You'll also get a $100 property credit and complimentary breakfast on stays booked through The Edit. And, you'll receive Hertz Five Star status for car rentals since the Sapphire Reserve is a Visa Infinite card.

You can also unlock extra perks with brands like Hyatt, IHG and Southwest Airlines after spending $75,000 on the card in a calendar year.

Travel protections

This is the card I trust most for booking flights and hotels directly. Highlights include:

• Delayed and lost luggage reimbursement
• Primary rental car insurance
• Trip cancellation and interruption insurance
• Trip delay reimbursement

Chase once fully reimbursed me for damaged luggage on an international trip, a claim that took me just five minutes to submit. The strong protections are one of the reasons I prioritize using this card for airfare.

How to earn and use your rewards

Understanding how you can earn and redeem points with the Sapphire Reserve is key to maximizing the card's overall value.

Earning points

The Sapphire Reserve has strong bonus categories, particularly for travelers:

• 10 points per dollar spent on Peloton equipment and accessory purchases (of at least $150; maximum of 50,000 points; through Dec. 31, 2027)
• 8 points per dollar spent on purchases made through Chase Travel (including The Edit)
• 5 points per dollar spent on Lyft rides (through Sept. 30, 2027)
• 4 points per dollar spent on flights and hotels booked directly
• 3 points per dollar spent on dining worldwide
• 1 point per dollar spent on everything else

I primarily use this card to earn 4 points per dollar spent on flights and direct hotel bookings, and 3 points per dollar spent on dining, both at home and while traveling abroad. And since the card has no foreign transaction fees, I use it often when traveling abroad.

Redeeming points

You have several ways to redeem Ultimate Rewards points, but the two most valuable are transferring points to partners for sweet-spot redemptions or using them to book travel through Chase.

Ultimate Rewards points transfer to 14 airline and hotel partners, including my favorites:

• Air Canada Aeroplan
• Air France-KLM Flying Blue
• British Airways Club
• World of Hyatt (incredible value for mid-tier and high-end hotels)

I try to leverage a transfer bonus to squeeze even more value out of my flight redemptions. I recently took advantage of a 30% bonus to transfer just 3,000 Chase points to Iberia Club to book a flight from Seville to Barcelona, Spain, on Vueling (plus $22 in taxes).

You can also redeem points through Chase's travel booking portal at competitive rates, particularly when using Points Boost for better-value premium airfare and select hotel redemptions.

TPG senior director of content Summer Hull found Disneyland hotels for just 17,000 points a night using Points Boost, compared to triple the amount of points through Marriott. For many travelers (especially beginners), this is simpler than juggling transfer partners.

Related: How to redeem Chase Ultimate Rewards points for maximum value

Downsides to consider about the Chase Sapphire Reserve

No premium card is perfect, and the Sapphire Reserve is no exception.

• The $795 annual fee is among the highest on the market.
• If you're chasing lounge access alone, there are cheaper options.
• General travel purchases (like parking or tolls) do not earn bonus points.
• You must receive the $300 travel credit before you start earning points on travel.
• The card works best for people willing to actively manage multiple statement credits.

Still, if you use the credits consistently and prefer transferring points for elevated redemptions, the Sapphire Reserve can easily justify its cost.

Sapphire Reserve vs. Amex Platinum

The American Express Platinum Card® is the Sapphire Reserve's closest competitor. Both are premium travel cards with high annual fees ($895 for the Amex Platinum, to be exact; see rates and fees), valuable points and extensive perks — but they're built for slightly different types of travelers.

The Platinum offers the industry's strongest lounge network and a long list of statement credits with high-end brands.

It's a great fit if you can take advantage of benefits like Centurion Lounge access for eligible cardmembers, Fine Hotels + Resorts bookings, Hilton and Marriott elite status and statement credits for entertainment and fitness. (Enrollment is required for select benefits.)

The Sapphire Reserve, on the other hand, focuses more on simplicity and everyday value. Its automatic annual travel credit, strong earning rate on dining and best-in-class travel protections make it easier to use consistently without managing so many credits.

Choose the Amex Platinum if you prioritize:

• Unmatched lounge access, including Centurion Lounges
• High-end lifestyle statement credits that fit your spending
• Access to more transfer partners (20 versus 14)

Choose the Sapphire Reserve if you value:

• Simpler, more flexible credits that reduce the effective annual fee
• Stronger travel protections
• Higher earnings on dining

Related: Amex Platinum vs. Chase Sapphire Reserve: Which premium travel card is right for you?

When to apply for the Chase Sapphire Reserve

New cardholders can currently earn 150,000 bonus points after spending $6,000 on purchases in the first three months from account opening.

This bonus is worth $3,075, according to TPG's May 2026 valuations.

This is the highest public offer we've seen on this card, making now a great time to apply.

Before applying, remember Chase's 5/24 rule and Sapphire family restrictions. You can typically earn a bonus on the Sapphire Reserve once in your life. Chase will tell you during the application if you're eligible for the bonus.

Other cards to consider if you don't want the Chase Sapphire Reserve

If the Sapphire Reserve isn't the right fit, consider these alternatives:

• If you want a more affordable premium card: The Capital One Venture X Rewards Credit Card comes with great lounge access and straightforward perks for a very reasonable $395 annual fee. To learn more, check out our full review of the Venture X.
• If you want a great mid-tier travel card: The Chase Sapphire Preferred® Card (see rates and fees) has a $95 annual fee and features the same transfer partners as the Sapphire Reserve with strong earnings for beginners. To learn more, check out our full review of the Sapphire Preferred.
• If you're a big fan of American Airlines: The Citi Strata Elite℠ Card (see rates and fees) is a compelling choice for American Airlines flyers thanks to its Admirals Club access, AAdvantage transfers and excellent earnings on Citi Travel portal bookings. To learn more, check out our full review of the Strata Elite.

For additional options, check out our picks for the best premium credit cards.

Bottom line

The Chase Sapphire Reserve remains one of the most powerful travel rewards cards available — especially for people who enjoy actively earning and redeeming their points and maximizing their card perks.

For me, the combination of top-tier earnings, valuable transfer partners, premium travel protections and useful credits makes it a mainstay in my wallet.

Apply here: Chase Sapphire Reserve

For rates and fees of the Amex Platinum, click here.

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.