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Since its launch in 2016, the Chase Sapphire Reserve? has been a top travel rewards credit card. The Sapphire Reserve offers a well-rounded suite of benefits to frequent travelers, including up to $300 in annual travel credit, airport lounge access and comprehensive travel protections.

The card also presents competitive earning rates on dining and travel purchases, consistent redemption value through Chase Travel?, and high-end redemption potential via airline and hotel transfer partners.

Now the Sapphire Reserve has another compelling reason to apply: an increased welcome bonus.

Welcome bonus offer

For a limited time, the Chase Sapphire Reserve card is offering a welcome bonus of 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. Or you could receive potentially more value when you transfer your Chase Ultimate Rewards? points to airline and hotel partners.

This card has seen welcome bonuses as high as 100,000 points, but the current offer compares favorably to the standard welcome bonus of 60,000 points.

Rewards for travel and dining

The Sapphire Reserve earns 3 Ultimate Rewards points per dollar on both travel (after the first $300 is spent on travel purchases annually) and dining purchases.

The travel category extends to cruise lines, trains and taxis, as well as expenses such as tolls, parking and transit. Additionally, you can earn 5 points per dollar on airfare and 10 points per dollar on eligible hotels and rental cars when you use your Sapphire Reserve card to book through Chase Travel.

Point transfers: Airlines and hotels

With the Sapphire Reserve card, you can transfer Ultimate Rewards points to over a dozen airline and hotel loyalty programs, including United MileagePlus, Southwest Rapid Rewards and World of Hyatt. The transfer ratio is typically 1:1 (so 1,000 Ultimate Rewards points get you 1,000 points or miles in the program you transfer to), but Chase sometimes offers transfer bonuses as high as 70% that make transfers more compelling.

Not all transfer opportunities are good ones, and you’ll sometimes get a better return from booking travel directly with Chase. Nonetheless, you can get exceptional value when cash prices are high and award rates are low. High value is especially possible when you’re booking premium travel like first– and business-class flights or high-end hotel rooms.

Enhanced travel redemption value

Transfer partners give the Ultimate Rewards program massive upside, but Sapphire Reserve card holders can also get consistent value by booking travel directly with Chase. Points are worth 1.5 cents apiece when you redeem them through Chase Travel for flights, hotels and more.

Plus, Chase Sapphire Reserve travel benefits (such as rental car insurance and lost luggage reimbursement) apply even when you book with points, and you’ll still be eligible to earn rewards and elite benefits on flights (though not necessarily hotel stays).

Annual travel credit

The Sapphire Reserve charges a hefty $550 annual fee, but you can offset more than half of that cost with the card’s annual up to $300 travel credit, which applies a broad spectrum of spending, just like the 3x earning rate on travel purchases. The credit automatically applies to your statement when you make qualifying purchases, so you don’t have to put in extra effort to claim it.

Global Entry/TSA PreCheck/NEXUS credit

On top of the annual travel credit, the Sapphire Reserve card offers a statement credit of up to $100 every four years to cover the cost of applying for Global Entry, TSA PreCheck or NEXUS. This credit will increase to $120 in October 2024 to match the rising cost of Global Entry and NEXUS applications. Which program you should apply for depends on your travel tendencies, but all of them can make your travel experience a little easier.

Airport lounge access

You’ll get a complimentary Priority Pass Select membership that (upon enrollment and activation) gives you and up to two guests access to a network of over 1,300 lounges in airports worldwide. As of July 2024, this membership will no longer include non-lounge spaces such as restaurants and spas.

Beyond Priority Pass, the Sapphire Reserve gets you and up to two guests into the small but growing network of Chase Sapphire lounges. Locations include Boston Logan International Airport (BOS), New York LaGuardia (LGA), New York’s John F. Kennedy International Airport (JFK) and Hong Kong International Airport (HKG), with new lounges planned for Las Vegas, Philadelphia, Phoenix and San Diego. You can also access the Chase Sapphire Terrace at Austin-Bergstrom International Airport (AUS) and the Etihad Lounge at Washington Dulles International Airport (IAD).

Travel protections

On top of benefits to make traveling easier, the Sapphire Reserve offers travel insurance that can help you through a variety of mishaps when you use your card to pay for travel. These protections have a litany of exclusions and limitations, so check out the Chase Sapphire Reserve benefits guide to see what is and isn’t covered.

Rental car insurance

The Sapphire Reserve is on the short list of credit cards that offer primary car rental insurance, which means you can file a claim with Chase before involving your personal auto insurance. You’ll get coverage of up to $75,000 against theft and damage when you use your card to pay for your rental. However, some vehicles are excluded from coverage, and you’ll still need to provide your own liability protection.

Trip cancellation/interruption insurance

Trip insurance can reimburse you for up to $20,000 of non-refundable travel expenses when you have to change plans due to covered reasons (such as severe weather or a death in the family). These protections don’t apply if you simply change your mind, and they won’t help you recoup the cost of adjusting refundable travel arrangements, but they can help you avoid losses due to circumstances outside of your control.

Trip delay reimbursement

This benefit covers expenses you incur for meals, lodging or even clothing and other essentials when your flight or other travel is delayed. While many cards with similar benefits require a delay of 12 hours, the Sapphire Reserve’s coverage kicks in after just six hours.

Baggage delay insurance

When you make it to your destination on time but your baggage doesn’t, this benefit reimburses you for up to $100 per day for essentials such as clothing, toiletries and phone chargers. Coverage lasts for up to five days, and extends to immediate family members whose fares were purchased with your card, even if you’re not traveling with them.

Lost luggage reimbursement

If your bags are stolen or damaged, or lost altogether, this benefit can pay out up to $3,000 per person. Both checked bags and carry-ons are covered, but reimbursement for some items (like jewelry and electronics) is capped at $500, and the benefit doesn’t apply to bags that are simply left behind.

Travel accident insurance

The Sapphire Reserve insures you for up to $1 million In the unfortunate event that you or a family member is injured while traveling. The coverage is highly specific to the nature of the injury, and it only applies to incidents that occur while you’re a passenger (including at the airport or station).

Emergency evacuation and transportation

This benefit can reimburse up to $100,000 of expenses such as medical services and transportation if you have an emergency while traveling and need to be evacuated. The Sapphire Reserve’s evacuation insurance applies to trips between five and 60 days in duration; if your trips tend to fall outside those limits, you’ll need to look elsewhere for coverage.

Emergency medical and dental benefit

If you’re sick or injured while traveling, your Sapphire Reserve card can cover emergency healthcare expenses up to $2,500 (with a $50 deductible) that aren’t covered by another insurer. Eligible charges include emergency visits to a doctor or dentist, ambulance services and necessary medications.

Travel and emergency assistance services

Like a concierge for travel emergencies, this benefit can help you in sticky or complicated travel situations by guiding you toward legal or medical assistance, transportation, translation and other services. However, you’re responsible for costs associated with those services.

Roadside assistance

The Sapphire Reserve offers card holders coverage for up to $50 toward four service claims annually, including towing, jump starts, tire changes, lockout services, fuel delivery and winching. Those services are likely to exceed the $50 limit, but you might as well use the benefit so long as rates and service times are comparable to what you can get otherwise.

Purchase protections

Chase Sapphire Reserve benefits go beyond travel to offer protection for everyday purchases. Like the travel protections above, these benefits come with extensive terms and conditions.

Extended warranty

This benefit gives you one extra year of warranty coverage for eligible items you buy with warranties of three years or less.

Purchase protection

If an eligible item is lost, stolen or damaged within 120 days of when you buy it using your Sapphire Reserve card, purchase protection can reimburse you up to your purchase price. Claims are capped at $10,000 each and $50,000 annually.

Return protection

When a retailer won’t allow you to return an eligible item within 90 days of purchase, this benefit can reimburse you for the purchase price. Protection is capped at $500 per item and $1,000 annually.

Partner and retail benefits

The Sapphire Reserve Card gives you benefits with several Chase partners.

  • Lyft: Earn 10 points per dollar on Lyft rides through March 31, 2025, and get a Lyft Pink membership for two years when you activate by Dec. 31, 2025.
  • DoorDash: Get at least 12 months of DoorDash DashPass membership when you activate by the end of this year, and a $5 monthly DoorDash credit through Dec. 31, 2024.
  • Instacart: Get one year of Instacart+ when you activate by July 31, 2024, and a monthly $15 statement credit toward Instacart purchases (through July 2024).
  • Peloton: Earn 10 points per dollar (up to 50,000 points) on purchases of Peloton equipment and accessories over $150 through March 31, 2025.

No foreign transaction fees

Foreign transaction fees can add as much as 3% to purchases you make with retailers outside the US. There are plenty of credit cards that waive foreign transaction fees (including some with no annual fee), but it’s helpful that the Sapphire Reserve is one of them.

Hotel and rental car perks

The Edit

Chase offers this curated list of hotels with benefits for premium card holders. Chase Sapphire Reserve hotel benefits include daily breakfast for two and a $100 on-property credit, as well as upgrades, early check-in and late checkout (when available).

Rental car elite status

As a Visa Infinite card, the Sapphire Reserve includes elite status with Avis, Hertz and National, as well as discount codes you can use to save on rentals.

Reserved by Sapphire experiences

This perk should definitely not be a deciding factor in whether to open the card, but your card might help you access exclusive and high-demand events, sometimes providing extras such as premium seating and VIP check-in. The list of available experiences is short, but it may help if you’re looking to score tickets to a major sporting event or a table at a trendy new restaurant.

Frequently asked questions (FAQs)

You can apply for the Chase Sapphire Reserve card online or by visiting a Chase branch.

The value of Chase Sapphire Reserve points depends on how you redeem them. You’ll get 1.5 cents per point when you book through Chase Travel, and you can get even more value by transferring to airline and hotel partners.

You can upgrade from the Chase Sapphire Preferred? Card to Chase Sapphire Reserve by calling the number on the back of your card. However, you won’t be eligible for a welcome bonus offer when you upgrade.

Typically, an excellent credit score (at least 740) should qualify you for the Chase Sapphire Reserve, but no credit score guarantees your application will be approved. Chase will look at other factors such as your income, history with the bank and recent credit applications to decide whether to approve you.

The Chase Sapphire Reserve is subject to the Chase 5/24 rule, which means if you’ve opened five or more cards from any issuer (excluding most business credit cards), you probably won’t be approved. In addition, the card isn’t available to current Sapphire Reserve or Sapphire Preferred card holders or previous card holders who received a welcome bonus for a Sapphire card in the prior 48 months.

To activate the Sapphire Reserve Priority Pass lounge benefit, navigate to the “Card Benefits” section of your online account and click to activate the “Complimentary Airport Lounge Access” benefit.

Editorial Disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines, hotel chain, or other commercial entity and have not been reviewed, approved or otherwise endorsed by any of such entities.

This content is for educational purposes only and is not intended and should not be understood to constitute financial, investment, insurance or legal advice. All individuals are encouraged to seek advice from a qualified financial professional before making any financial, insurance or investment decisions.

Note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed or may no longer be available.

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