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I’m pumped! I’ve just been approved for the new Chase Sapphire Reserve® If you don’t know, the Sapphire Reserve is a luxury travel rewards card from Chase bank. It’s a premium version of the popular Chase Sapphire Preferred® Card. The Sapphire Reserve has a bigger bonus and more benefits, but it does have a larger annual fee.
The Sapphire Reserve competes with The Platinum Card® from American Express and the Citi Prestige® Card as luxurious travel cards that offer an array of perks.
Ok, so there’s an annual fee of $550 that isn’t waived for the first year. That’s hefty. But the perks of the Sapphire Reserve can justify keeping this card in your wallet. And that’s not even counting the bonus points.
For starters, there’s a $300 annual travel credit. This credit can be used for airfare, award fees, bag fees, buses, hotels, etc. A lot of options to burn the $300 statement credit on travel purchases. And the $300 credit is an annual one, so once this calendar year and once next calendar year, and you’re at $600 in travel statement credits.
Chase Sapphire Reserve® purchases earn up to 10x Chase Ultimate Rewards®. Cardholders can earn unlimited:
- 10x total points on hotels and car rentals purchases through Chase Ultimate Rewards (after the first $300 is spent on travel purchases annually)
- 10x total points on Chase Dining purchases with Ultimate Rewards
- 5x total points on flights when you purchase travel through Chase Ultimate Rewards (after the first $300 is spent on travel purchases annually)
- 3x points on other travel worldwide (after the first $300 is spent on travel purchases annually)
- 3x points on other dining at restaurants, including eligible delivery services, takeout, and dining out
- 1x points for all remaining purchases
You will not receive rewards points on your first $300 in annual travel purchases as the annual travel statement credit reimburses these purchases.
These are great category bonuses.
And, you will earn a 50% bonus for award redemptions made through the Ultimate Rewards® portal. For example, 50,000 points = $750 in travel.
Other elite travel benefits include:
- Receive up to $100 application fee credit for Global Entry or TSA Pre✔®
- 1:1 point transfer to leading airline and hotel loyalty programs
- Access to 900+ airport lounges worldwide with complimentary Priority Pass™ Select membership
- Special car rental privileges from National Car Rental, Avis, and Silvercar when you book with your card
- Special benefits during your stay with The Luxury Hotel & Resort CollectionSM
- World-class suite of travel and purchase protections
There are also $0 foreign transaction fees.
The Sapphire Reserve is a Chase bank-branded credit card which means you will most likely be denied approval if you have applied for 5 or more credit cards in the last 24 months.
Also, in case you were wondering, you will still be eligible for the Reserve if you have held or currently hold the ever popular Sapphire Preferred.
My Experience Applying for the Chase Sapphire Reserve
I applied online and wasn’t instantly approved, but I received approval after a week. I have only applied for 3 credit cards in the last 24 months, so I was within the 5/24 rule.
Beyond the tremendous sign-up bonus, I wanted the Sapphire Reserve because it earns valuable Ultimate Rewards points. I’m saving my Ultimate Rewards points to help fly my loved ones out to see me in California, or for trips to Hawaii and Europe.
I’m also going to enjoy the 3x points per $1 earned on travel purchases and the $300 annual travel credit. Incredible benefits tailored for my travel spending. The Priority Pass will also allow me to bring in a guest to a participating lounge, unlike the Amex Priority Pass.
The Chase Sapphire Reserve is a fantastic card with an incredible sign-up bonus. The annual fee is high, but it’s easily justified if you travel enough to take advantage of its benefits, especially with the $300 annual travel credit.
The earning potential is also top-notch with the Chase Sapphire Reserve.
How about you? Are you applying for the Chase Sapphire Reserve?