Why the Chase Sapphire Reserve Is Worth the $795 Annual Fee for Me

I remember vividly the summer of 2016 when the Chase Sapphire Reserve^® hit the market with a bang. 100,000 Ultimate Rewards as a sign-up bonus, worth $1,500 for travel booked through the portal — could this be for real?!

It was indeed true, and I wasn't the only one clamoring for the new card despite its eyebrow-raising $450 annual fee. The Sapphire Reserve became so popular that Chase even ran out of the metal cards. It achieved cult-like status (not an easy feat for a credit card), and made premium credit cards the new normal.

But now, the card's annual fee is $795 after multiple hikes since its launch. Is it still worth carrying? Here's why I say "yes."

What you get for $795

To soften to blow of the annual fee, Chase Sapphire Reserve cardholders get a range of perks, including:

• Up to $300 annual travel credit
• Up to $120 credit for Global Entry or TSA PreCheck
• Up to $500 annual credit for eligible hotel bookings through The Edit℠ (up to $250 in statement credits from January through June and up to $250 in statement credits from July through December). (A two-night minimum is required, and purchases that qualify will not earn points.)
• Up to $300 annual credit for eligible dining purchases through Sapphire Reserve Exclusive Tables by OpenTable (up to $150 in statement credits from January through June, and up to $150 in statement credits from July through December).
• Priority Pass lounge access
• Points worth up to 2x for select travel through the Chase Travel℠ portal Points Boost program
• 3X points on dining
• StubHub, Peloton, Lyft, Apple TV+, and Apple Music perks and/or credits
• Automatic IHG One Rewards Platinum Elite status (until December 31, 2027; activation required)
• Primary auto collision insurance on rentals
• Comprehensive travel insurance, including baggage delay insurance
• Roadside assistance
• DoorDash perks: Cardholders get a complimentary subscription for at least one year to DashPass when activated by December 31, 2027. This gives $0 delivery fees for eligible orders over $12. Cardholders also get a $5 monthly restaurant promo credit and two $10 promos per month that are applicable to non-restaurant orders through December 31, 2027.

Chase states that the Sapphire Reserve offers over $2,700 in potential annual value, assuming you squeeze every last drop out of your benefits and credits.

Why I'm sticking with the Chase Sapphire Reserve

There are several reasons I'm still committed to the Reserve card, and the Chase Ultimate Rewards points ecosystem including the ease and value of redemptions, Priority Pass restaurant benefits, and the card's other travel perks. Let's take a closer look...

Reason 1: Boosted Chase Travel portal redemptions

It's true that savvy rewards seekers can often get outsized value from their points and miles. By transferring Ultimate Rewards points directly to airlines or even some hotel chains, it's not uncommon to redeem them for 2, 3, 4, or even 5 cents or more each.

With the Chase Sapphire Reserve, each of your points can be worth up to 2 cents each when you use them to book travel through Chase Travel.

Chase Travel's Points Boost program means that different cardholders can qualify for different rates on their redemptions. The base rate is 1 cent per point for everybody, but you can make your points worth up to 2 cents each if you have the Sapphire Reserve and redeem them for qualifying flights and hotel bookings (including premium flights and flight classes and popular resorts). This is the best redemption rate available through Points Boost.

I'll pause to say that this Chase Sapphire Reserve benefit used to be more straightforward. You could redeem your points at a rate of 1.5 cents each through the Chase Travel℠ portal , no matter what you put them toward, and this was reason enough for many people to hang onto the card.

Technically, your points can be worth even more now. But it'll require a little strategizing that it didn't always require, and it might mean choosing a flight or hotel you otherwise might not have. Still, this potential value could make the $795 annual fee worth it for you, possibly even more so, depending on how you travel.

Can't I book hotels in the American Express and Citibank portals?

Yes, you could use your Membership Rewards and ThankYou Points to book hotels in the respective Amex and Citibank travel portals. But I probably wouldn't ever do that.

That's because you'll get a fraction of the value that the Sapphire Reserve would give you.

Check out this identical hotel booking using Ultimate Rewards points from the Chase Sapphire Reserve, compared to using Amex Membership Rewards:

(Note that this comparison was made when the 1.5x points value was guaranteed for all redemptions.)

If I ditched my Chase Sapphire Reserve in favor of The Platinum Card^® from American Express, I'd only get about .7 cents per point if I wanted to book a hotel through the portal.

When it makes sense for me to book flights through the Chase portal

I also like to use my Ultimate Rewards to book flights in the Chase Travel portal on occasion. You'll usually get the greatest value by transferring your points directly to partner airlines to redeem for premium cabin seats. But there are times when it makes sense for my travel needs to book through the portal.

For example, since my home airport is a base for Southwest Airlines, I tend to fly them a lot domestically. If I'm short on points, I could transfer my Ultimate Rewards points directly to Southwest at a 1:1 transfer ratio. Southwest points are generally valued right around 1.5 cents.

Instead, I use my Ultimate Rewards points to book my Southwest ticket directly, without the transfer. I just call Chase and ask them to book the ticket I want on Southwest. Since a ticket booked with Chase Travel℠ looks like a cash ticket to the airline, I'm able to earn Southwest points on the flight.

I'll also look at booking flights through the Chase Travel portal when I find cheap cash fares. When you book flights through the portal, the price is tied to the cash price of the ticket. So instead of dealing with finding award availability, you can use your points to cover the cost of the "cash" fare — and you'll earn points on the flight to boot.

This option is especially helpful for my family since our travel dates are often not flexible. Even if there is no available award space, I know I can still use my points to pay for the trip.

Reasons 2 and 3: Travel insurance and international acceptance

The Chase Sapphire Reserve has long had some of the best travel protection around. When you book your trip with your Reserve (or even if you pay with points and only pay the taxes and fees with your Reserve), you'll be covered up to $10,000 per covered traveler (up to $20,000 per trip) if your trip is cancelled.

You're also entitled to industry-leading travel accident insurance, lost luggage reimbursement, and emergency evacuation coverage.

American Express has added many of these travel protection benefits to several of its cards.

But there's one area where Chase credit cards still shine: car rental insurance. The Sapphire Reserve gives primary coverage on auto collision damage, whereas American Express cards give secondary coverage.

What's more, the Sapphire Reserve still gives a roadside assistance benefit, whereas American Express cut this perk from its cards.

Another thing I like about carrying my Chase Sapphire Reserve when I travel is that I know the Visa card will be accepted in virtually every country I visit. The same can't be said for American Express, where many establishments overseas (and some domestically) don't take Amex.

Reasons 4 and 5: Easy-to-use travel credits, easy-to-earn points

One of the things I love most about the Sapphire Reserve is the generous $300 annual travel credit — and how easy it is to use. The credit happens automatically every year. I don't have to remember to activate it, I don't have to submit any paperwork, and I don't have to worry about it being doled out in monthly increments and expiring if I don't use it.

I just use my Chase Sapphire Reserve to charge flights, hotels, baggage fees, ride shares, train rides, or any other travel, and my statement gets credited back automatically up to $300 each year. It couldn't be easier.

Not only are the credits easy to use, but the Ultimate Rewards points are easy to earn with my Reserve. I like earning 3X on dining from just one card. Sure, there are cards that offer higher returns in this category, but I like the solid returns I earn with my Reserve.

Bottom line

After careful thought, the Chase Sapphire Reserve is still a keeper for me.

After the automatic $300 annual travel credit, I believe I'll get enough value from the Chase Travel portal, the Global Entry credit, the travel protections, and the various other statement credits and partner perks to justify the annual fee.

But this is far from a universal decision. Many Chase Sapphire Reserve cardholders have also evaluated what they get out of the card and can no longer justify holding it with the higher annual fee.

Take a close look at your spending patterns and the perks you actually use. Do you see flights and hotels you'd be interested in booking through Chase Travel? Do you always transfer your points out and never book through the portal? If not, this might be the best travel credit card option ,and your conclusion about this card may well be different than mine.

Premium Travel Benefits

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Rates and fees

Current Offer

Earn 100,000 bonus points + $500 Chase Travel℠ promo credit after you spend $5,000 on purchases in the first 3 months from account opening

Annual Fee

$795

Rewards Rate

8x points on all purchases through Chase Travel℠ (including The Edit℠), 4x points on flights and hotels booked direct, 3x points on dining worldwide & 1x points on all other purchases

Benefits and Drawbacks

Benefits

• Up to $300 in annual travel credits
• Great rewards on travel purchases and dining
• Complimentary Priority Pass Select membership
• Comprehensive travel protections, including trip delay and cancellation insurance
• Points are worth up to 2x on select hotels and flights when booking through Chase Travel

Drawbacks

• $795 annual fee
• High spending requirement for the welcome offer
• $195 annual fee for each authorized user

Card Details

• Earn 100,000 bonus points + $500 Chase Travel℠ promo credit after you spend $5,000 on purchases in the first 3 months from account opening.
• Get more than $2,700 in annual value with Sapphire Reserve.
• Earn 8x points on all purchases through Chase Travel℠, including The Edit℠ and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
• $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Access over 1,300 airport lounges worldwide with a complimentary Priority Pass™ Select membership, plus every Chase Sapphire Lounge® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck® every 4 years
• Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
• Get complimentary Apple TV+, the exclusive streaming home of Apple Originals. Plus Apple Music - all the music you love, across all your devices. Subscriptions run through 6/22/27 - a value of $250 annually
• Member FDIC