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Chase Sapphire Reserve^®: Answers to 18 Common Questions

With a little effort, this high-fee card can easily pay for itself and set you up to travel in style.

By Lee Huffman
and Steve Miller

Edited by Alicia Hahn

Updated Dec. 17, 2024

Ever since its launch in 2016, the Chase Sapphire Reserve^® has maintained a place among the heavy hitters in the premium travel card space. The combination of benefits and the value of the points it earns makes it a strong contender for any traveler’s wallet roster, but it’s understandable to have some questions before committing to the $550 annual fee.

We’ve got answers for everything you could possibly want to know.

What are the main Chase Sapphire Reserve benefits?

The Chase Sapphire Reserve^® has many benefits that make it a useful credit card to carry. Valuable perks include:

$300 annual travel credit
Complimentary Priority Pass Select airport lounge membership
5X points on flights and 10X points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually; 3X points on other travel and dining & 1X points per dollar on all other purchases
50% more value when redeeming points for travel through Chase Travel℠
Global Entry, TSA PreCheck or NEXUS application fee statement credit
Points transfer at a 1:1 ratio to a more than a dozen travel partners
A perk called Reserved by Sapphire that lets you make exclusive reservations at popular restaurants nationwide

Learn more about the most valuable Chase Sapphire Reserve benefits.

How do I apply for the Chase Sapphire Reserve?

You can apply for the Chase Sapphire Reserve online or by visiting a local branch to apply in person.

How long does it take to get approved for the Chase Sapphire Reserve?

Your application may be approved instantly. If it isn’t, you might receive a notice saying your application is under review. This doesn’t mean you've been declined. Instead, it means your application requires a manual review by a Chase employee because the computer wasn’t able to instantly approve you.

Once the manual review is complete, you'll receive an email or letter informing you of the decision.

How can I increase my odds of Chase Sapphire Reserve approval?

As with any credit application, you want to improve your credit score as much as possible before applying. Here are five quick tips to boost your credit score:

Reduce balances on credit cards: Banks like to see that you aren't maxing out your credit limits.
Increase credit limits: If you can't reduce your balances quick enough, increasing limits on existing credit cards will also lower your credit utilization.
Limit credit inquiries: There are always enticing credit cards available, but you need to be strategic about your credit inquiries. Don't miss out on a great card because you applied for too many good cards.
Make all payments on time: Ideally, you’ll pay off your credit cards in full each month. When you can't, at least make the minimum payment to avoid fees and a negative mark on your credit report.
Dispute incorrect information: Mistakes happen — and they can hurt your score. Get your credit report for free from AnnualCreditReport.com and review for accuracy. If you find errors, dispute them with the appropriate party.

Learn more about what makes up a good credit score.

How long does it take to get the Chase Sapphire Reserve in the mail?

Cards should be expected within five to seven business days from approval, though there have been reports of people receiving their cards in as little as one to two days.

What’s the Chase 5/24 rule?

Many banks have implemented rules to keep people from churning credit cards just to receive the sign-up bonus. Chase's version of this is the unofficial "5/24 rule," which suggests that applicants won’t be approved for a new credit card if they've opened up five or more cards in the last two years.

What’s the Chase Sapphire Reserve’s annual fee?

The annual fee for the Chase Sapphire Reserve is $550.

Unlike many credit cards, this fee isn’t waived in the first year. An additional annual fee of $75 is charged for each authorized user.

Does the Chase Sapphire Reserve have foreign transaction fees?

Nope! You won’t be charged extra fees when you use this card abroad or shop online with an international retailer, making this one of the best travel credit cards for international travelers.

Can I have both the Chase Sapphire Preferred and the Sapphire Reserve?

No, you cannot hold both of the Chase Sapphire credit cards at the same time.

Because of this limitation, if you’re looking to earn more Ultimate Rewards points, consider adding either the Chase Freedom Flex^® or Chase Freedom Unlimited^®. (Business owners may consider applying for the Ink Business Preferred^® Credit Card.)

All of these credit cards earn Ultimate Rewards, which can be easily combined into your Chase Sapphire Reserve’s balance of points — helping you rack up rewards even faster.

That being said, if you have the Sapphire Preferred and wish to upgrade to the Reserve, you can, just keep in mind that you won’t be eligible to earn the welcome offer. In most cases, it would be better to cancel or downgrade your Sapphire Preferred — perhaps to one of the Freedom cards — before applying for the Reserve so that you’ll have the chance to earn the welcome offer.

How can I redeem points earned with the Chase Sapphire Reserve?

There are many options for redeeming Ultimate Rewards points earned from the Chase Sapphire Reserve, including:

Redeem for travel in the Chase travel portal
Transferring to hotel and airline partners
Redeeming for cash and gift cards
Shopping at Amazon with points
Booking exclusive experiences and events

When you book travel in the Chase travel portal, your points are worth 1.5 cents each with the Chase Sapphire Reserve. If you have the Chase Sapphire Preferred, they’re only worth 1.25 cents apiece. However, you can transfer Ultimate Rewards points from select Chase cards to the Sapphire Reserve to enjoy the 1.5-cent redemption rate.

Chase Ultimate Rewards are some of the most valuable points in the travel world because of Chase’s transfer partners. Cardholders can transfer points to more than a dozen airline and hotel partners on a 1:1 basis.

This means that for every 1,000 points you transfer, you'll receive 1,000 airline miles or hotel points. Partners include United Airlines, British Airways, Southwest Airlines, and Marriott Bonvoy.

Ultimate Rewards can also be cashed in for gift cards, statement credits, or direct deposit into your bank account. For statements and direct deposit, you'll receive one cent per point.

When shopping at Amazon, you can also use your Ultimate Rewards points to pay at checkout. However, you'll generally only receive roughly 0.8 cents per point redeemed. In that instance, you may be better off cashing out your points than paying for your Amazon purchase with that money to avoid the 20% reduction in value.

Chase also offers unique experiences that are exclusive to cardholders. These include scenic tours, sporting events, privately hosted dinners, and access to VIP music and entertainment events.

How does the Chase Sapphire Reserve $300 travel credit work?

Unlike the Chase Freedom quarterly bonuses, there’s no need to register for this benefit. All you have to do is use the card on purchases coded as travel, and the amount (up to $300) will be refunded to your account.

The statement credit will be posted the same day as the purchase and will appear on your statement within one to two billing cycles.

This perk renews around the anniversary date of your account opening.

How does the Chase Sapphire Reserve Global Entry or TSA PreCheck credit work?

Cardholders receive up to a $120 reimbursement for Global Entry, TSA PreCheck, or NEXUS application fees every four years. Global Entry and TSA PreCheck are Trusted Traveler Programs maintained by the U.S. Department of Homeland Security. NEXUS is a program run by U.S. Customs and Border Protection that gives pre-screened individuals expedited U.S./Canada border processing.

Does the Chase Sapphire Reserve come with airport lounge access?

Yes, one of the benefits I love the most about this card is the complimentary Priority Pass Select airport lounge membership. With Priority Pass, you can access over 1,300 airport lounges and restaurants worldwide. Cardholders and authorized users are allowed a maximum of two accompanying guests each. Additional guests are charged $27 per guest, per visit.

Cardholders also get access to every Chase Sapphire Lounge by The Club.

How do the Chase Sapphire Reserve Lyft benefits work?

Chase Sapphire Reserve cardholders are eligible to receive two free years of Lyft Pink All Access (valued at $199 a year) and a third year at 50% off when you activate a membership by Dec. 31, 2024.

Lyft Pink All Access benefits include 10% off Black and Black SUV rides, free priority pickup upgrades, cancellation forgiveness, and more. You'll also earn 10X total points on qualifying Lyft rides.

To activate this perk, add your Chase Sapphire Reserve card as the default payment method in the Lyft app. Then, follow the in-app prompts to finish setting up your free Lyft Pink membership.

How do Chase Sapphire Reserve DoorDash benefits work?

Chase also offers DoorDash benefits to Sapphire Reserve cardholders. As a cardholder, you could get at least a year of free membership to the DashPass program when you activate by Dec. 31, 2027. This complimentary DashPass subscription waives delivery fees on eligible orders and reduces others.

Cardholders can also take advantage of a $5 monthly dining credit on orders and two $10 monthly credits on non-restaurant orders. To activate, add your Chase Sapphire Reserve as the default payment method in the DoorDash app.

How does Chase Sapphire Reserve rental car insurance work?

Many premium credit cards offer secondary rental car coverage, but the Chase Sapphire Reserve's coverage is better. This credit card offers primary rental car coverage when you decline a rental car company's collision insurance and charge the entire purchase to your Reserve card.

This primary rental car coverage provides reimbursement up to $75,000 for theft and collision damage to rental cars in the U.S.

Does the Chase Sapphire Reserve have rental car elite status?

Yes. Because the Sapphire Reserve is a Visa Infinite Card, you’ll receive elite status and perks at select rental car companies:

National Emerald Club Executive status and discounts of up to 25%
Avis Preferred Plus status and up to 30% off

You’ll also be eligible for Hertz perks with this card.

What types of travel protections are offered by the Chase Sapphire Reserve?

No matter how much you plan, things can go wrong when you travel. The Chase Sapphire Reserve has built-in travel insurance protections to assist when problems occur.

Trip Cancellation/Interruption Insurance: Covers non-refundable travel expenses in case of sickness, severe weather, and other covered situations. You can be reimbursed up to $10,000 per person and $20,000 per trip. This coverage includes passenger fares, tours, and hotels.
Lost Luggage Insurance: If your bags are lost or damaged, you and immediate family members could receive up to $3,000 per passenger.
Trip Delay Reimbursement: If you’re delayed more than six hours or an overnight stay is required, you and your family are covered for unreimbursed expenses. This protection includes both meals and lodging, up to $500 per ticket.
Roadside Assistance: During a roadside emergency, you can call for a tow, jumpstart, tire change, locksmith, or gas. Calls are covered four times a year, up to $50 per incident.
Emergency Evacuation and Transportation: You and immediate family members are covered if you become injured or sick during a trip 100 miles or more from home that results in an emergency evacuation. Coverage for medical services and transportation is up to $100,000.

Bottom line

If you love to travel, the Chase Sapphire Reserve is a powerful tool for earning rewards and redeeming points while enjoying a slew of other benefits.

The $550 annual fee is higher than most travel credit cards’ fees, but maxing out the $300 annual travel credit brings the net cost down to just $250. Use your TSA PreCheck, Global Entry, or NEXUS credit, and you’ll shave another hundred bucks or more off that.

Perks like primary rental car insurance and Priority Pass Select membership may cover what’s left, meaning the card could pretty easily pay for itself.

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