The Chase Sapphire Reserve (CSR) card has long been a favorite amongst the points and miles community as a top all-around travel rewards card. It has quite a list of perks, excellent travel protections and good bonus categories, all while earning valuable Chase Ultimate Rewards points. This year, however, Chase has removed restaurant access from the included Priority Pass, axed several useful credits and taken way primary rental car insurance on domestic rentals for New York residents that have a personal policy. Given all that, do the benefits of the card justify the $550/year annual cost?
Chase Sapphire Reserve Current Welcome Offer
| Card Offer |
|---|
60K Points ⓘ Affiliate 60K after $4K spend in 3 months$550 Annual Fee Alternate Offer: 70K after $4K spend showing on some accounts when logged-in to Chase Recent better offer: Expired 12/1/22: 80K after $4K spend |
Chase Sapphire Reserve Review
The Chase Sapphire Reserve has a lot going for it. The travel and purchase protections are top-notch (except for New York residents), and lounge access includes Priority Pass, Sapphire Lounges and select Air Canada Maple Leaf lounges. Ultimate Rewards is a very valuable transfer currency, unique in that it transfers 1-1 to Hyatt and can be redeemed by CSR cardholders for 1.5 cents each towards travel. The $550 annual fee is balanced by an easy-to-use $300 travel credit that brings the yearly total closer to $250. It doesn’t stand out from the competition like it used to and I wouldn’t consider it a “must-have” card. However, for frequent travelers who don’t want/can’t get the Ritz Carlton card or who often use points for direct travel redemptions, it can be a worthwhile option.
- Annual Fee: $550
- Authorized User Annual Fee: $75
- Foreign Transaction Fee: None
- What points are worth: The Chase Sapphire Reserve earns Ultimate Rewards (UR). Our current Reasonable Redemption Values pegs them at 1.55 cents each.
- Best Use for Points: Ultimate Rewards points can be transferred to travel partners at a 1:1 ratio and this will almost certainly yield the most value. Our favorite transfer partner is Hyatt, but good value can had through airline partners as well; including Air Canada Aeroplan, Air France/KLM Flying Blue and British Airways Avios. CSR cardholders can also be redeem UR for travel through the Chase Portal at 1.5 cents each or use “Pay Yourself Back (PYB)” on certain spending categories at 1.25 cents each (although the PYB program has lost much of its luster in the last year).
- Earning Categories:
- 10X hotels & car rentals booked through Chase, Chase Dining, Lyft (through 3/2025)
- 5X flights booked through Chase
- 3X travel and Dining
- 1x everywhere else
- Credits:
- $300 annual travel (cardmember year)
- $100 Global Entry/TSA PreCheck (once every 4 years)
- Additional Perks:
- Priority Pass Select Lounge Membership: Cardholder and two guests. Unlike many other card-linked Priority Pass memberships, does not include Priority Pass restaurants.
- National Car Rental Executive Status
- Free two-year Lyft Pink (must activate by 12/31/24) – Complimentary upgrades to Priority Pickup on Standard rides, savings on Lyft Lux, XL, and Preferred rides and relaxed ride cancellations.
- Free one-year DashPass – Provides $0 delivery fees and lowered services fees on eligible orders.
- Travel Protections:
- Auto Rental Coverage: Primary auto rental CDW (collision damage waiver). Provides reimbursement up to $75,000 for theft and collision damage for rental cars in the U.S. and abroad (Note that this insurance is now secondary on domestic car rentals for New York State residents with a personal primary insurance policy).
- Roadside Assistance: Up to $50 per incident/4 times a year.
- Trip Cancellation/Interruption Insurance: Up to $10,000 per person and $20,000 per trip.
- Trip Delay Reimbursement: Covers delays of more than 6 hours or that require an overnight stay. Cardholder and family are covered for up to $500 per ticket.
- Lost Luggage Reimbursement: Up to $3,000 per passenger.
- Baggage Delay Insurance: Covers baggage delays of over 6 hours, up to $100 a day for 5 days.
- Travel Accident Insurance: Accidental death or dismemberment coverage of up to $1,000,000.
- Emergency Evacuation & Transportation: Medical services and transportation up to $100,000.
- Emergency Medical and Dental Benefit: More than 100 miles or more from home, up to $2,500 for medical expenses for cardholder and immediate family members.
- Purchase Protections:
- Extended Warranty: One additional year, on eligible warranties of three years or less (US warranties only)
- Damage and Theft Protection: 120 days against damage or theft; up to $10,000 per claim and $50,000 per year
- Return Protection: Within 90 days of purchase, up to $500 per item, $1,000 per year.”
- Who’s this card for? Frequent travelers, especially those that can take advantage of bonus spending categories and who utilize the 1.5 cent redemption through the Ultimate Rewards portal. The travel and purchase protections are top-notch (as long as you don’t live in New York) and it has good lounge access options. Pairing it with a 5x earner like the no-fee Chase Freedom Flex, no-fee Freedom Unlimited & no-fee Chase Ink Cash can make it much more powerful.
- Is the Chase Sapphire Reserve a keeper? I used to be a staunch defender of the “keepability” of the CSR (and wrote a post about it last year). I’m much less convinced now, however. This is partially because of the competition. partly because of the degradation of the Pay Yourself Back program and part because of loss of lounge benefits and domestic car insurance for New Yorkers. The Amex Gold card has better category bonuses and includes grocery. The Ritz Carlton card offers the same lounge access and arguably better travel protections now that the CSR has excluded New Yorkers, but it also adds $300 in incidental airline credits AND an annual 85K Marriott free night certificate…for $100 less in annual fees. Even the $95 Sapphire Preferred card offers primary car rental insurance for everyone while hanging onto the ability to transfer Ultimate Rewards to partners. Even if you account for the $300 travel credit at face value, I’m seeing less and less reasons to keep this card around for $250/year.
Chase Sapphire Reserve Pros and Cons
Pros
- Best-in-class travel protections, including primary rental car insurance (that I’ve had the unfortunate chance to use several times…it’s great)
- $300 travel credit applies to a broad range of categories and is easy-to-use
- Priority Pass select membership with Sapphire and Maple Leaf lounge access
- Good bonus categories
- Only major transferable currency (outside of Bilt) that has Hyatt as a partner
- Points can be redeemed at 1.5 cents each for travel through the Chase Travel Portal
Cons
- High annual fee ($550)
- New York state cardholders with a primary insurance policy no longer get primary rental car insurance on domestic rentals.
- While 3x on travel and dining is good, it doesn’t stand out like it used to
- No longer offers restaurant access on the included Priority Pass membership
- Often has a subpar welcome offer when compared to the Sapphire Preferred
- The Pay Yourself Back program is much less valuable that it used to be
- While everyone in these parts loves Hyatt, Ultimate Reward‘s airline transfer partners are less exciting
Chase Transfer Partners
| Rewards Program | Chase Transfer Ratio | Best Uses |
|---|---|---|
| Aer Lingus Avios | 1 to 1 | Fuel surcharges are sometimes lower when booking with Aer Lingus rather than British Airways, Qatar, or Iberia. It's possible to move points (Avios) between Iberia, British Airways, Aer Lingus, and Qatar. See also: Avios Sweet Spots for Award Tickets. |
| Air Canada Aeroplan | 1 to 1 | Redeem for Star Alliance flights and/or flights with Air Canada partners (such as Etihad). No fuel surcharges; $39 CAD award booking fee; 5,000 points to add stopover on one-way award. See: Air Canada Aeroplan: Everything you need to know. |
| Air France KLM Flying Blue | 1 to 1 | Monthly Air France Promo Awards often represent very good value. Air France miles can be used to book Sky Team awards, including Delta awards. Air France often offers very good business class award pricing between the US and Europe & Israel. |
| British Airways Avios | 1 to 1 | While flights on British Airways itself often incur outrageously high fuel surcharges, many BA partners charge low or no fuel surcharges. Excellent value can be had in redeeming BA points for short distance flights. It's possible to move points (Avios) between Iberia, British Airways, Aer Lingus, and Qatar. See also: Avios Sweet Spots for Award Tickets. |
| Emirates Skywards | 1 to 1 | The best use of Emirates miles has been to fly Emirates itself. Unfortunately fuel surcharges can be extremely steep. One workaround is to book select routes such as JFK to Milan or Newark to Athens. See: How to find and book Emirates first class awards. |
| Finnair Plus+ | 1 to 1 via BA | Finnair points are now "Avios" and points can be moved to/from other Avios programs. Finnair uses zone based award charts rather than distance based. As a result, Finnair sometimes has better (and sometimes worse) pricing than other Avios programs. |
| Hyatt | 1 to 1 | Use for Hyatt free nights, free suite nights, lounge upgrades, or suite upgrades. Hyatt points are often worth at least 2 cents each, but they’re sometimes worth far more. Bonus: award nights are not subject to resort fees. |
| Iberia Avios | 1 to 1 | On their own flights, Iberia offers low award prices and a very reasonable 25 Euro cancellation fee. Partner awards can offer good value under some circumstances as well, but these are usually nonrefundable. Fuel surcharges are sometimes lower when booking with Iberia rather than British Airways, Aer Lingus, or Qatar. It's possible to move points (Avios) between Iberia, British Airways, Aer Lingus, and Qatar. See also: Avios Sweet Spots for Award Tickets. |
| IHG | 1 to 1 | IHG dynamically prices their awards and sometimes offer very good value. IHG Premier and IHG Premier Business cards offer the fourth night free on award stays. |
| JetBlue | 1 to 1 | JetBlue points offer the most value when cheap ticket prices are available and when award taxes are high relative to the overall cost of the ticket (more details can be found here). The JetBlue Plus Card and the JetBlue Business Card offer a 10% rebate on awards, so you can get more value by holding one of these cards. |
| Marriott Bonvoy | 1 to 1 | 5th Night Free awards. Opportunities to get outsized value exist but can be hard to find. |
| Qatar Privilege Club Avios | 1 to 1 via BA | Qatar has reasonable award prices for flying Qatar itself. Points are now transferable 1 to 1 to British Airways (and from there to Aer Lingus or Iberia). It is now also possible to book JetBlue flights with Qatar Avios. |
| Singapore Airlines KrisFlyer | 1 to 1 | Use to book Singapore Airlines First Class awards (generally reserved for their own members), Alaska Airlines economy awards, or for Star Alliance awards (including United Airlines). |
| Southwest Rapid Rewards | 1 to 1 | Award flights are fully refundable. Point values vary due to certain taxes not being charged on awards, but tend to average around 1.5 cents per point. |
| United MileagePlus | 1 to 1 | United offers free award changes and free cancelations. Like Avianca and Aeroplan, United never charges fuel surcharges for awards. Unfortunately, United charges many more miles for international first class awards. Good uses of miles include United's Excursionist Perk awards and (sometimes) dynamically priced United economy awards. |
| Virgin Atlantic Flying Club | 1 to 1 | Virgin Atlantic offers a few excellent sweet spot awards. See: Best uses for Virgin Atlantic points (Sweet Spot Spotlight). |
Related Cards
Ultimate Rewards Consumer Cards
| Card Offer and Details |
|---|
20K points ⓘ Non-Affiliate Earn 20,000 points (worth $200 cash back) after spending $500 in the first 3 monthNo Annual Fee Information about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy. FM Mini Review: Great for 5X and 3x categories and World Mastercard benefits. Excellent companion card to Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred. Earning rate: 5x travel booked through Chase Travel℠ ✦ 5X Lyft through March 2025 ✦ 3x dining ✦ 3x drugstores ✦ 5X in rotating categories on up to $1,500 spend per quarter (Q4 2024: McDonalds, PayPal, Pet Stores & Selectr Charities) Card Info: Mastercard World issued by Chase. This card imposes foreign transaction fees. Noteworthy perks: Free DashPass for up to 3 months upon activation ✦ Cell phone protection ✦ Lyft credits ✦ $10 monthly credit for non-restaurant DoorDash orders See also: Chase Ultimate Rewards Complete Guide |
Up to 30K points / $300 cash back ⓘ Affiliate Earn an additional 1.5% on all purchases (up to $20K spent in the first year) - worth up to $300 cash back.No Annual Fee This card is likely subject to Chase's 5/24 rule (click here for details). Recent better offer: Unlimited Double Cash Back for 12 month (expired 1/11/24) FM Mini Review: Great for 3x categories and 1.5X everywhere else. Excellent companion card to Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred. Click here for our complete card review Earning rate: 5x travel booked through Chase Travel℠ ✦ 5X Lyft through March 2025 ✦ 3x dining ✦ 3x drugstores ✦ 1.5X everywhere else Card Info: Visa Signature or Platinum issued by Chase. This card imposes foreign transaction fees. Noteworthy perks: Free DashPass for up to 3 months upon activation ✦ $10 monthly credit for non-restaurant DoorDash orders See also: Chase Ultimate Rewards Complete Guide |
None This card is no longer availableNo Annual Fee Information about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy. FM Mini Review: Great for 5X categories. Good companion card to Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred. Earning rate: 5X Lyft through March 2025; 5X in rotating categories on up to $1,500 spend per quarter (Q4 2024: McDonalds, PayPal, Pet Stores & Selectr Charities). Card Info: Visa Signature or Platinum issued by Chase. This card imposes foreign transaction fees. Noteworthy perks: Free DashPass for up to 3 months upon activation ✦ $10 quarterly Instacart credit ✦ 3 months free Instacart+ See also: Chase Ultimate Rewards Complete Guide |
60K Points + $300 Chase TravelSM Credit ⓘ Affiliate 60K + $300 Chase TravelSM credit after $4K spend in 3 months$95 Annual Fee Alternate Offer: There may be elevated offers available by applying in-branch A similar offer with the first year annual fee waived may be found in-branch. YMMV. FM Mini Review: Great signup bonus. Unlocks ability to transfer points to hotel & airline partners. Solid option to pair with fee-free Ultimate Rewards cards such as the Freedom cards, Ink Business Cash, and Ink Business Unlimited. Earning rate: 5X Travel booked through Chase Travel℠ (2X all other travel) ✦ 3X Dining ✦ 3X Select streaming services ✦ 3X Online grocery ✦ 5X Lyft (through March 2025) ✦ 10% annual point bonus Card Info: Visa Signature issued by Chase. This card has no foreign currency conversion fees. Noteworthy perks: Primary auto rental collision damage waiver ✦ $10 monthly credit for non-restaurant DoorDash orders ✦ Free DashPass through 2027 ✦ Transfer points to airline & hotel partners ✦ $50 back for hotel stays booked through Chase per cardmember year in the form of a statement credit |
60K Points ⓘ Affiliate 60K after $4K spend in 3 months$550 Annual Fee Alternate Offer: 70K after $4K spend showing on some accounts when logged-in to Chase Recent better offer: Expired 12/1/22: 80K after $4K spend FM Mini Review: Excellent all-around card for frequent traveler. Best when paired with no-fee Chase Freedom Flex, no-fee Freedom Unlimited & no-fee Chase Ink Cash Click here for our complete card review Earning rate: 10X hotels & car rentals booked through Chase Travel℠ ✦ 10X Chase Dining ✦ 5X flights booked through Chase ✦ 3X Travel and Dining ✦ 10X Lyft (through March 2025) Card Info: Visa Infinite issued by Chase. This card has no foreign currency conversion fees. Noteworthy perks: $300 Annual Travel Credit ✦ Points worth 1.5 cents each towards travel when booked through the Chase Travel(SM) Portal✦ Transfer points to airline & hotel partners ✦ Primary auto rental collision damage waiver ✦ Priority Pass Select lounge access ✦ Access Sapphire Lounges for yourself and 2 guests for free ✦ Access select Air Canada Maple Leaf lounges when flying Star Alliance ✦ Up to $100 Global Entry fee credit ✦ Free DashPass through 2027 ✦ Earn 10X on Lyft spend✦ Free Lyft Pink All Access Memberhsip through December 2024 See also: Chase Ultimate Rewards Complete Guide |
Ultimate Rewards Business Cards
| Card Offer and Details |
|---|
None This card is no longer available$0 introductory annual fee for the first year, then $95 Earning rate: ✦ 5X office supplies, 5X cellular/landline/cable ✦ 2X gas and hotels ✦ 5X Lyft through March 2025 Card Info: Visa Signature Business issued by Chase. This card has no foreign currency conversion fees. Noteworthy perks: ✦ Points worth 25% more when redeemed for travel ✦ Transfer points to airline & hotel partners See also: Chase Ultimate Rewards Complete Guide |
Up to 75K points ⓘ Affiliate 35K after $3K spend in 3 months and an additional 40K points after $6K spend in 6 months. In addition, 10% Business Relationship bonus if you have the Ink Business Cash and a Chase Business Checking account on your first anniversary.No Annual Fee Alternate Offer: If you have a household member with an Ink card, you may prefer the referral offer whereby the referrer can earn 40,000 points and the new account holder can earn 75,000 points after $6,000 in purchases in the first 3 months since it will yield more total points. Recent better offer: 90K after $6K spend in 6 monthd (expired 1/17/24 FM Mini Review: This one should be in everyone's wallet. Incredible welcome bonus for a no-annual-fee card. Great card for 5X categories. Excellent companion card to Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred. Click here for our complete card review Earning rate: 5X office supplies and cellular/landline/cable (on up to $25,000 in total purchases in 5x categories annually) ✦ 2X on the first $25K in combined purchases at gas stations and restaurants each cardmember year ✦ 5X Lyft through March 2025 Card Info: Visa Signature Business issued by Chase. This card imposes foreign transaction fees. See also: Chase Ultimate Rewards Complete Guide |
90K points ⓘ Affiliate 90K after $8K spend in 3 months$95 Annual Fee Alternate Offer: There is an in-branch offer of 120K points after $8K in purchases in the first 3 months. Recent better offer: 120K after $8K spend (expired 9/4/24) FM Mini Review: Great card for welcome bonus and 3X categories. Also consider theInk Business Cash for its 5X categories, and the Ink Business Unlimited to earn 1.5X everywhere. Earning rate: 3X travel, shipping, internet, cable, phone, and advertising with social media sites (up to $150K spend per year) ✦ 5X Lyft through March 2025 Card Info: Visa Signature Business issued by Chase. This card has no foreign currency conversion fees. Noteworthy perks: ✦ Points worth 25% more when redeemed for travel ✦ Transfer points to airline & hotel partners ✦ Cell phone protection against theft or damage See also: Chase Ultimate Rewards Complete Guide |
90K points ⓘ Affiliate 90K after $6K spend in 3 monthsNo Annual Fee Alternate Offer: You may be able to get an offer of 120,000 points after $6,000 in purchases via a Business Relationship Manager. FM Mini Review: Great welcome bonus for a fee-free card. Good option for earning 1.5X everywhere. Good companion card to Ink Business Preferred, Sapphire Reserve or Sapphire Preferred. Click here for our complete card review Earning rate: 1.5X on all purchases ✦ 5X Lyft through through March 2025 Card Info: Visa Signature Business issued by Chase. This card imposes foreign transaction fees. See also: Chase Ultimate Rewards Complete Guide |
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