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Chase Sapphire Reserve®: Premium Travel Rewards & Perks Explained

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Chase Sapphire Reserve®: Premium Travel Rewards & Perks Explained
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The Chase Sapphire Reserve® card continues to define the premium travel credit card space, introducing widespread enhancements in 2025 alongside a higher annual fee. The card has recently undergone significant changes by Chase, adding new perks, updated credits, and shifts in how points are earned and redeemed. Its core value proposition – premium travel rewards, elevated lounge access, flexible redemptions, and a broad set of credits – remains compelling for frequent travelers who can maximize its offerings.

Let’s break down the new welcome offer, key benefits, earning structure, and point redemption options so you can determine if this card is a fit, despite the $795 annual fee.

Chase Sapphire Reserve welcome offer

Chase Sapphire Reserve®

Travel in Style with the Chase Sapphire Reserve® Card

  • 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening
  • Over $3,000 in annual value in built-in credits and benefits
  • 8X points on Chase Travel℠ purchases, including The Edit℠; 4X points on flights and hotels booked direct
  • 3X points on dining worldwide; 1X point on all other purchases
  • $300 annual travel credit automatically applied to travel purchases each account anniversary year
  • Up to $300 in dining credits per year (up to $150 every six months) at Sapphire Reserve Exclusive Tables restaurants
  • Lounge access worldwide: 1,300+ airport lounges with a complimentary Priority Pass™ Select membership, plus every Chase Sapphire Lounge® by The Club with two guests
  • Complimentary Apple TV and Apple Music for at least one year when activated by 6/22/27 (a $288 annual value)
  • Up to $120 every four years toward Global Entry, NEXUS or TSA PreCheck®
  • No foreign transaction fees
  • $795 annual fee

From premium lounge retreats to robust trip protections (cancellation, interruption, auto rental and lost luggage insurance), this card lets you travel with confidence. Manage everything in the Chase app, tap to pay with contactless security, and let the automatic credits help offset the annual fee with high-value perks all year long.

Terms apply. Bonus offer requires minimum spend. Annual fee applies. Member FDIC. See Chase for full details.

Chase Sapphire Reserve®

ChaseChase Ultimate Rewards
Annual fee
$795
Our valuation
$2,350
Milesopedia first-year estimateFirst-year valueWelcome bonus$2,050Annual credit$300Total$2,350Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
Welcome offer
100,000 points
Apply Now

on Chase's website

Chase Sapphire Reserve earning rates

As a Chase Sapphire Reserve cardholder, you earn:

  • 8 points per dollar spent on all purchases made through Chase Travel℠, including The Edit℠, car rentals, cruises and activities as well as Peloton (through 2027)
  • 5 points per dollar on Lyft rides (through September 30, 2027), plus limited-time category bonuses.
  • 4 points per dollar on flights and hotels booked directly with airlines and hotel brands (not via Chase Travel).
  • 3 points per dollar on worldwide dining.
  • 1 point per dollar on all other purchases.

These categories make the Chase Sapphire Reserve a good travel credit card for earning points when you’re on the road.

Chase Sapphire Reserve benefits

The Chase Sapphire Reserve card offers numerous travel benefits, including airport lounge access and more. Here’s a look at the full roster.

Annual credits

  • $300 annual travel credit: Applies automatically to travel purchases each cardmember year.
  • Up to $300 in dining credits: Up to $150 every six months at Sapphire Reserve Exclusive Tables restaurants.
  • $300 StubHub credit: For ticket purchases on StubHub or Viagogo each year ($150 semiannually).
  • Apple TV & Apple Music Subscriptions: Complimentary for at least one year (activate by 6/22/27), a $288 annual value.
  • DoorDash, Lyft and Peloton Credits: Monthly credits for food delivery, transportation and fitness.
  • Complimentary DashPass: Free for 12 months for food delivery.
  • Elite hotel and rental car status: Complimentary IHG Platinum Elite through 2027; status with Avis and National, with further upgrades for high annual spend.

Airport Lounge benefits:

  • Priority Pass™ Select: Complimentary membership with access for the cardholder and two guests to 1,300+ airport lounges worldwide.
  • Chase Sapphire Lounge® by The Club: Complimentary access to every location for the cardholder and two guests. Since August 15, 2026, these lounges left the Priority Pass and LoungeKey networks, so the Sapphire Reserve is now one of only four cards that get you in.
  • Select Air Canada Maple Leaf Lounges: Access when flying Star Alliance.

Travel protections:

  • Trip cancellation/interruption and trip delay insurance.
  • Primary rental car collision coverage.
  • Lost luggage and baggage delay reimbursement.
  • Travel accident insurance (up to $1 million).
  • Emergency assistance and evacuation, plus roadside and medical coverage.

Additional perks

  • No foreign transaction fees.
  • Up to $120 every four years: For application fees for Global Entry, TSA PreCheck®, or NEXUS.
  • Authorized user fee: $195 per authorized user.
  • Purchase protection: Damage/theft coverage for new purchases up to 120 days.
  • Extended warranty and return protection.

Chase Ultimate Rewards redemptions

You can redeem Chase Ultimate Rewards points for:

  • Travel bookings through Chase at 1.5 cents per point with the Chase Sapphire Reserve.
  • Transfers to 14 airline and hotel transfer partners.
  • Gift cards or cash back at 1 cent per point.

Transferring Chase Ultimate Rewards points and sweet spots

You can redeem Chase Ultimate Rewards points for:

  • Travel bookings through Chase Travel at 1.5 cents per point with the Chase Sapphire Reserve.
  • Transfers to 14 airline and hotel partners (often a better value).
  • Gift cards at 1 cent per point (or more during promotions).
  • Statement credit at 1 cent per point.

You’ll get the best value from your points when you transfer them to Chase’s various transfer partners. Here’s how to leverage them to book flights with the big three US airlines.

For American Airlines flights:

  • Transfer to British Airways Executive Club: American Airlines and Alaska Airlines flights start at 12,000 Avios in economy class. This loyalty program uses a distance-based award chart and charges by leg, so you’ll pay more for connecting flights.

For United Airlines flights:

  • Transfer to Air Canada Aeroplan: Book United flights starting for as few as 6,000 points.
  • Transfer to United MileagePlus: United prices awards dynamically, meaning there’s no set award chart. Thankfully, there are good deals to be found on domestic and international flights.

For Delta Air Lines flights:

  • Transfer to Air France-KLM Flying Blue: You can book Delta flights with Flying Blue. One of our favorite redemptions is flying Delta from the US mainland to Hawaii for 18,500 Flying Blue miles one-way and $26.22.
  • Transfer to Virgin Atlantic Flying Club: Delta awards start at 7,500 points for flights when you book with Virgin points.

These are some of our other favorite ways to use Chase Ultimate Rewards points:

  • Air Canada Aeroplan: You can add a stopover to any Aeroplan award ticket for 5,000 bonus miles, so it’s a great way to plan a multi-stop tour of Europe, Asia or another region you’re itching to explore.
  • Air France-KLM Flying Blue for flights to Europe: Flights from the US to Europe start at 15,000 miles in economy, 35,000 miles in premium economy and 50,000 miles in business class, plus moderate taxes and fees.
  • Iberia Plus: Business class flights from Boston Logan International Airport (BOS), Chicago O’Hare International Airport (ORD) and John F. Kennedy International Airport (JFK) to Adolfo Suárez Madrid–Barajas Airport (MAD) for 34,000 Avios on off-peak dates.
  • Virgin Atlantic Flying Club: Book flights from the US to London for as little as 10,000 miles plus moderate taxes and fees.
  • World of Hyatt for hotel stays: Free nights start at just 3,500 points per night. You can book everything from high-end luxury stays to all-inclusive resorts with Hyatt points.

Comparable cards to the Chase Sapphire Reserve

There’s no shortage of premium travel credit cards out there. Consider these two before you apply for the Sapphire Reserve.

Capital One Venture X Rewards

Elevate Your Travel at a Value: Capital One Venture X Rewards Credit Card

  • 10X miles on hotels & rental cars booked through Capital One Travel
  • 5X miles on flights & vacation rentals through Capital One Travel
  • 2X miles on all other purchases
  • $395 annual fee, with up to $300 annual travel credit for portal bookings
  • 10,000 anniversary bonus miles (worth $100) each year
  • Global Entry/TSA PreCheck credit up to $100 every four years
  • Unlimited lounge access at Capital One & Priority Pass lounges
  • No foreign transaction fees

Perfect for frequent explorers, this card’s robust benefits—from statement credits to lounge access—easily offset its annual fee. Book your next adventure, relax in premium lounges and enjoy seamless digital tools, all while earning unlimited rewards on every dollar spent.

Terms apply. See issuer’s website for rates, fees and complete details.

Capital One Venture X Rewards

Capital OneCapital One Miles
Annual fee
$395
Our valuation
$1,388
Milesopedia first-year estimateFirst-year valueWelcome bonus$1,388Total$1,388Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
Welcome offer
75,000 points
Apply Now

on Capital One's website

The Platinum Card® from American Express

Unlock Premium Travel & Lifestyle Benefits with The Platinum Card® from American Express

Welcome Offer: Up to 175,000 Membership Rewards® points after spending $8,000 in eligible purchases in your first 6 months of Card Membership.

The Platinum Card® from American Express delivers exceptional value for travelers and lifestyle enthusiasts. With this premium card, you’ll enjoy:

  • 5X Membership Rewards® points on flights and prepaid hotels booked through American Express Travel®
  • Global Lounge Collection® access to over 1,550 airport lounges including Centurion Lounges and Delta Sky Clubs®
  • $600 Hotel Credit annually on Fine Hotels + Resorts® or The Hotel Collection bookings
  • $400 Resy Credit plus exclusive Platinum Nights by Resy restaurant reservations
  • $320 Uber benefits ($200 Uber Cash + $120 Uber One membership credits)
  • $300 Digital Entertainment Credit ($25 monthly for eligible streaming services)
  • $300 lululemon Credit ($75 quarterly)
  • $209 CLEAR® Plus Credit annually
  • $200 Airline Fee Credit with your selected qualifying airline
  • $155 Walmart+ Credit for monthly membership
  • $100 Saks Fifth Avenue Credit ($50 semi-annually)

The Platinum Card® offers premium early check-in and guaranteed 4PM late checkout at Fine Hotels + Resorts® properties, helping you maximize your vacation time.

With dedicated 24/7 Member Services support and a suite of benefits that deliver over $2,500 in potential annual value, The Platinum Card® stands apart as a premium travel and lifestyle companion.

The Platinum Card® from American Express

American ExpressAmerican Express Membership Rewards
Annual fee
$895
Our valuation
$3,500
Milesopedia first-year estimateFirst-year valueWelcome bonus$3,500Total$3,500Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
Welcome offer
175,000 points
Apply Now

on American Express's website

Is the Chase Sapphire Reserve worth it?

If you regularly travel and use the annual $300 travel credit, the effective annual fee can be partially offset by a host of high-value credits and lounge benefits. The combination of superior travel insurance, strong earning rates, premium lounge access, and over $3,000 in annual value makes it an excellent card for frequent travelers able to maximize its suite of unique perks.

For occasional travelers, or those less able to use the lifestyle and dining credits, alternative premium cards – like the Capital One Venture X or Amex Platinum – may provide more targeted value.

Bottom line

The Chase Sapphire Reserve may have a high annual fee, but it can pay off for frequent travelers. We highly recommend it to those who spend a fair amount of money on travel and dining and are looking for a way to earn flexible rewards to power future trips.

Chase Sapphire Reserve®

ChaseChase Ultimate Rewards
Annual fee
$795
Our valuation
$2,350
Milesopedia first-year estimateFirst-year valueWelcome bonus$2,050Annual credit$300Total$2,350Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
Welcome offer
100,000 points
Apply Now

on Chase's website

FAQs – Chase Sapphire Reserve®

What is the current welcome offer for the Chase Sapphire Reserve®?

The Chase Sapphire Reserve® offers 100,000 bonus points after spending $6,000 in purchases in the first 3 months from account opening. This is one of the most generous sign-up offers in the premium travel card space.

How much is the annual fee for the Chase Sapphire Reserve®?

The annual fee is $795, which is not waived the first year. However, this can be offset with over $3,000 in potential value from travel credits, perks, and lounge access.

What are the Chase Sapphire Reserve® earning rates?

You’ll earn: 8x points on travel booked through Chase Travel (including The Edit), 4x on direct airline and hotel bookings, 3x on dining worldwide, 1x on all other purchases.

What lounge access is included with the Sapphire Reserve®?

The card provides Priority Pass™ Select access for you and two guests to 1,300+ airport lounges worldwide, access to every Chase Sapphire Lounge® by The Club, and select Maple Leaf Lounge access when flying Star Alliance. Notably, Chase Sapphire Lounges left the Priority Pass network on August 15, 2026, which makes this card more valuable for lounge access, not less.

Can I get travel credits with this card?

Yes. The Sapphire Reserve offers several credits, including: $300 annual travel credit, up to $300 in dining credits at Exclusive Tables restaurants ($150 every six months), $300 StubHub/Viagogo credit, and various streaming, transportation, and fitness credits.

How can I redeem Chase Ultimate Rewards® points?

You can redeem points for: Travel through Chase Travel at 1.5 cents per point, Transfers to 14+ airline and hotel partners, Gift cards or cash back at 1 cent per point, Statement credits, Transfers often provide the best value, especially with partners like Aeroplan, Flying Blue, and World of Hyatt.

Is the Chase Sapphire Reserve® worth it?

If you travel frequently, the Sapphire Reserve can more than justify its high annual fee through its combination of travel protections, lounge access, point earning potential, and annual credits. For infrequent travelers, however, a lower-fee card might be more suitable.

Andrew Kunesh

Behind this article

Andrew Kunesh

26published articles

Andrew was born and raised in the Chicago suburbs but now lives in Queens, New York. He’s a lifelong traveler and took his first solo trip to San Francisco at the age of 16. Fast forward a few years, and Andrew now travels just over 100,000 miles a year, with over 40 countries, 20 travel credit cards and 3 airline statuses under his belt. Andrew was formerly a Senior Editor at The Points Guy and CNN Underscored.

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