Are you an avid traveler? Do you take flights often? Do you stay at hotels for work or leisure?
If so, a credit card designed for travelers may be something to add in your wallet. With it, you’ll earn extra points whenever you complete a travel-related transaction and those points can be used to redeem flights and hotels!
The Chase Sapphire Reserve Credit Card is one of the best, if not THE best, travel credit card on the market. Even with its $550 annual fee, the benefits that come with it are worth it for any occasional traveler!
What Are The Benefits Of The Chase Sapphire Reserve Card?
Sign-Up Bonus
At the time of this writing, Chase is offering 60,000 points after you spend $4,000 on purchases in the first 3 months of account opening. That’s $900 worth when you redeem on Chase Travel Portal!
$300 Annual Travel Credit
You’ll receive $300 of travel credit every year on your card anniversary for any travel-related transactions. That means flights, taxis, Ubers, and even public transportation! This effectively brings your annual fee down to $250.
Points Earnings
Any travel- and restaurant-related charges earns 3 points for every dollar spent and 1 point per dollar on all other purchases. Flights purchased on the Chase Travel Portal earn 5 points per dollar, 10 points per dollar on hotel and rental car purchases, and 10 points per dollar on Chase Dining purchases. The points start stacking up!
50% Redemption Value on Chase Travel Portal
When redeeming your points on Chase Travel Portal, you’ll earn 50% more in redemption value. If a flight costs $600, you’ll only need 40,000 points to redeem the flight!
Premium Lounge Access
You’ll be enrolled in Priority Pass Select and with it, you can access lounges or receive restaurant credit in airports globally, where it’s available.
Global Entry, TSA PreCheck or NEXUS Fee Credit
You’ll receive a $100 credit every four years when the application fee is charged on your card. Signing up for Global Entry automatically grants you TSA PreCheck although signing up for TSA PreCheck only grants you TSA PreCheck so I recommend you choose Global Entry. My processing time when I come back to the United States ends up taking 1 minute while people are getting in line for immigration, even as a US citizen.
No Foreign Transaction Fees
Obviously great for international travel! Amex isn’t popular outside of the United States but Visa, which processes transactions for Chase Sapphire Reserve is!
Partners Benefits
Chase Sapphire Reserve offers you perks with partner companies like Lyft and DoorDash. CSR cardholders receive complimentary DashPass that offers zero delivery fees and reduced service fees. You also get a $5 monthly credit each month. Lyft transactions earn an additional 7 points than the normal 3 points per dollar. That’s 10 points per dollar!
Travel and Purchase Coverage
CSR cardholders receive awesome trip coverage like trip cancellation/interruption insurance and auto rental collision damage waiver when the CSR is used. You would also receive purchase and return protection on eligible items.
Is The Chase Sapphire Reserve Card Worth It?
The Chase Sapphire Reserve card is a no-brainer for any traveler who already banks with Chase. If you spend at least $300 on travel expenses, you’ll get a ton of value from this card.
Of the benefits offered with the CSR card, I personally use the Priority Pass, Global Entry (mainly TSA PreCheck), Lyft, DoorDash, and rental car damage waiver all the time.
The annual fee is definitely worth the value I get out of the card.
How Can I Get The Most Value With The Chase Sapphire Reserve Card?
With my additional Chase credit cards that earn Ultimate Rewards (the Freedom and Freedom Unlimited), I’m able to combine those points with my CSR and redeem them for travel.
We call this the trifecta – a Chase travel card like the Chase Sapphire Reserve or the Chase Sapphire Preferred, Freedom Flex, and Freedom Unlimited. The Freedom Flex card offers 5 points per dollar on quarterly categories like gas, Walmart purchases, Target purchases, and groceries. The Freedom Unlimited card gives 1.5 points per dollar spent on all transactions.
I used my points for really expensive flights in the past, but to get the most value out of Ultimate Rewards points is to transfer them to an airline or hotel partner when redemption is undervalued relative to the cash price.
Airline points really vary based on demand and timing, but Ultimate Rewards can be converted to many airline reward programs. Ultimate Rewards points also transfer to IHG One Rewards, Marriott Bonvoy, and World of Hyatt. Historically, Hyatt has the best value for Ultimate Rewards points while Marriott Bonvoy diminishes the Ultimate Reward points value.
Why Should I Get The Chase Sapphire Reserve Over Other Premium Travel Credit Cards?
Other travel credit cards offer similar perks depending on how the benefits fit in your lifestyle. However, one thing to consider is Chase’s 5/24 rule.
Chase is known for its 5/24 rule – you cannot have 5 or more newly opened credit card accounts across all banks within 24 months. Even if you have good credit and are a solid candidate, you’ll be rejected if you try to open a fifth credit card account in the last 24 months. There have been reports that applicants will get shut out from Chase if they open too many Chase accounts too soon.
Other credit card companies like American Express and Capital One don’t have these restrictions so if you’re interested in the Chase Sapphire Reserve, I would prioritize Chase cards before expanding onto others.
As always, you shouldn’t carry a credit card balance if you can’t pay it off before the due date. Be responsible with your credit cards and you’ll have a valuable tool that can pay for your travels.