Chase Sapphire Reserve review | finder.com

Chase Sapphire Reserve® review – January 2019

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Chase Sapphire Reserve® Learn more Apply now

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  • Once approved, you will typically receive your credit card within 1-2 weeks
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Enjoy exclusive travel benefits, 3x points on travel and dining and 0% foreign transaction fees with this high-end card.

finder.com’s rating: 4.6 / 5.0

★★★★★

30-second take

  • Get this card if you want to earn rewards for your frequent travel — and don’t mind paying $450 per year for it.
  • Pick something else if you’re looking for an intro APR for balance transfers and purchases.
  • Apply with an excellent credit score of 740 or higher.
Product NameChase Sapphire Reserve®
Card TypeVisa
Annual Fee$450
APR (Annual Percentage Rate) for Purchases17.99% to 24.99% variable
Introductory Purchase APR

N/A

Balance Transfer APR17.99% to 24.99% variable
Introductory Balance Transfer APR

N/A

Balance Transfer Fee$5 or 5% of the transaction, whichever is greater
Cash Advance Rate26.99% variable
Foreign Transaction FeeNone
Cash Advance Fee$10 or 5% of the cash advance amount, whichever is greater
Interest Free PeriodUp to 21 days
Late Payment Fee$37
Returned Payment Fee$37
Additional Cardholder Fee$75
Rates & FeesRates & Fees
Welcome OfferEarn 50,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening - that's $750 toward travel when you redeem through Chase Ultimate Rewards®.
Reward Value per Dollar1x points
Rewards Points ExpirationNever
Apply now

The basics

Chase Sapphire Reserve® offers an unheard of signup bonus of 50,000 points to get you on your way to enjoying the benefits of this high-end credit card. You can get this bonus after you spend $4,000 on purchases in the first 3 months of opening your account. You may find other Chase credit cards with no annual fees, but if you often travel overseas and enjoy first-class benefits, you can make back the fee in no time.

The value of points

Not many cards come with the steep annual fee of the Chase Sapphire Reserve®. But it can offer great value for your money if you need top-class amenities while traveling, and you travel often.

Right off the bat, you can get 50,000 bonus points after spending $4,000 on purchases in the first 3 months of opening your account.

What’s more: It’s a premium travel card, allowing you to earn 3x points on travel and dining and 1x points on all other purchases. And you can relax in class with complimentary access to over 1,000 airport lounges in more than 500 cities worldwide.

The perks

If you use this high-end card regularly, you can definitely make the high $450 annual fee worth it.

  • SIGNUP BONUS: Several redemption options.

    Earn a whopping 50,000 points — a $750 value when redeemed through Chase Ultimate Rewards — when you spend $4,000 on purchases in the first 3 months of opening your account. Redeem points for travel, dining and other perks.

  • POINT TIERS: 3x points on travel and dining.

    Earn 3x points on travel including hotels, airfare, taxis and trains once you’ve earned $300 in travel credit. You’ll also get 3x points on dining at restaurants worldwide. You’ll earn 1x points for all other purchases.

  • STATEMENT CREDIT: $300 annually.

    Get reimbursed for travel purchases charged to your card with up to $300 in statement credit each year. Plus, get an additional $100 toward the application fee for Global Entry or TSA Pre-Check every four years.

  • AIRPORT LOUNGES: More than 1,000 airport lounges worldwide.

    Relax at VIP lounges in over 500 cities after an easy, one-time enrollment in Priority Pass Select.

  • POINT REDEMPTION: Great for travel.

    Get 50% more value when you redeem your points for airfare, cruises, car rentals and more through Chase Ultimate Rewards. Or redeem your points for cash back.

Compare Chase Sapphire Preferred® Card vs. Chase Sapphire Reserve®

Can you redeem points for cash back?

Yes! Redeem your points for a statement credit or a deposit into a savings or a checking account.

Request your Chase Saphire Reserve® cash back by:

  • Logging in to your Chase Ultimate Rewards account.
  • Calling the number on the back of your card.
  • Visiting a Chase branch.

Is cash back redemption worth it?

Each point is worth one cent when redeemed for cash back. This means that the 3x points you earn on travel and dining is worth 3% in cash back value.

You’ll also like …

  • Exclusive travel benefits.

    Enjoy additional benefits on car rentals, at The Luxury Hotel & Resort Collection and more.

  • No foreign transaction fees.

    Use your card overseas without the worry of extra transaction fees.

  • Travel protection.

    Coverage includes trip cancellation and interruption insurance up to $10,000 per trip on travel expenses paid with your card. Charge your entire rental car cost and get reimbursement up to $75,000 for theft and collision damage with their auto rental collision damage waiver. Plus, if you’re sick while traveling away from home and need emergency evacuation, you’re covered for medical services and transportation up to $100,000. You’ll also get trip delay reimbursement up to $500 per ticket if your common carrier travel is delayed more than six hours.

  • Purchase protection.

    Charge something new to your card and get coverage for 120 days against damage or theft up to $10,000 per claim and $50,000 per year. Store won’t take back your items? With return protection, you have 90 days from the purchase date to be reimbursed for eligible items, up to $500 per item and $1,000 per year. You’ll also receive extended warranty protection of one extra year on eligible items with warranties of three years or less.

  • 24/7 worldwide service team.

    Get direct access to a customer service specialist, the Chase Travel Team and Visa Infinite Concierge for assistance with dinner reservations, Broadway tickets, sporting events and more.

Apply now

What to watch out for

  • Steep annual fee.

    To justify the $450 fee, you’ll need to regularly make use of this high-end card.

  • No intro APR.

    You’ll begin paying interest on any balances after your first statement.

Is there a Chase Sapphire for business?

Compare similar travel credit cards

Name Product Welcome Offer Reward Value per Dollar APR (Annual Percentage Rate) for Purchases Annual Fee
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
1x points
17.99% to 24.99% variable
$0 annual fee for the first year ($95 thereafter)
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months.
Earn 50,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening - that's $750 toward travel when you redeem through Chase Ultimate Rewards®.
1x points
17.99% to 24.99% variable
$450
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months.
30,000 bonus miles after spending $1,000 in purchases on your new card in your first 3 months and a $50 statement credit after you make a Delta purchase with your new card within your first 3 months.
1x miles
17.99% to 26.99% variable
$0 annual fee for the first year ($95 thereafter)
30,000 bonus miles after you use your new card to make $1,000 on purchases within the first 3 months. Rates & Fees
75,000 Hilton Honors Bonus Points with the Hilton Honors American Express Card after you use your new card to make $1,000 in eligible purchases within the first 3 months of card membership.
3x points
17.99% to 26.99% variable
$0
Earn 75,000 Hilton Honors™ Bonus Points after you spend $1,000 in purchases on the card within your first 3 months of card membership. Rates & Fees
35,000 Membership Rewards® Points after you spend $2,000 on eligible purchases with your new card within the first 3 months.
1x points
See Rates & Fees
$250
35,000 bonus Membership Rewards® Points when you spend $2,000 in the first 3 months Rates & Fees
Enjoy 70,000 bonus miles after spending $5,000 on purchases in the first 90 days
2x miles
18.24%, 22.24% or 25.24% variable
$0 annual fee for the first year ($89 thereafter)
Enjoy 70,000 bonus miles after spending $5,000 on purchases in the first 90 days.
60,000 Membership Rewards® points after you use your new card to make $5,000 in purchases in your first 3 months.
1x points
None (Charge Card)
$550
Get 5x Membership Rewards® points on flights booked directly with airlines or with American Express Travel and 5x points on eligible hotels booked on amextravel.com. Rates & Fees
125,000 Hilton Honors Bonus Points with the Hilton Honors American Express Ascend Card after you use your new card to make $2,000 in eligible purchases within the first 3 months of card membership.
3x points
17.99% to 26.99% variable
$95
Earn 125,000 Hilton Honors™ Bonus Points after you spend $2,000 or more in purchases with your new card within the first 3 months of card membership. Rates & Fees
10,000 bonus miles after spending $500 in purchases on your new card in your first 3 months.
1x miles
17.99% to 26.99% variable
$0
Earn 10,000 bonus miles after spending $500 in purchases on your new card in your first 3 months of card membership. Rates & Fees
75,000 bonus points after you use your new card to make $3,000 in purchases within the first 3 months.
2x points
17.99% to 26.99% variable
$0 annual fee for the first year ($95 thereafter)
75,000 bonus points after you use your new card to make $3,000 in purchases within the first 3 months from account opening. Rates & Fees
1x points
17.24% variable
$195
Enjoy unique excursions, privileged access to exclusive events and insider opportunities.
1x points
17.24% variable
$495
Receive an annual $100 air travel credit toward flight-related purchases including airline tickets, baggage fees, upgrades and more.
1x points
17.24% variable
$995
Earn 1x points when redeemed for airfare through the Luxury rewards program.

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What you should know before applying

To apply for Chase Sapphire Reserve® you must:

  • Be at least 18 years old.
  • Be at least 19 years old if you live in Alabama or Nebraska.
  • Be at least 21 if you live in Puerto Rico.
  • Have a permanent home address in the US or US territories, or a US military address.
  • Have a valid Social Security number.

What credit score should I have?

An excellent credit score of 740 or higher will increase the chances of your application’s approval.

What’s my likelihood of being approved?

The most obvious and widely used factor in determining whether you’ll be approved is your credit score, but it’s not the only one. Here are a few other things that might affect your odds of approval:

  • Whether you’re a current Chase customer. Chase is reportedly more likely to approve its current banking customers. This makes sense, as it can more readily evaluate your financial stability with the data it already has. Furthermore, it has an incentive to keep you happy as a customer.
  • How many hard pulls you have on your credit report. If you have several hard inquiries — or hard pulls — on your account, it might make you look desperate for credit. This implies you’re having trouble managing your debt, and Chase may be less likely to take you on as a customer.
  • Factors that tie into your credit score. Credit utilization is a major factor that Chase will consider. The bank prefers a customer who has low balances relative to their credit limit. Having many new card accounts may be a red flag, too, as it may indicate you’re desperate for credit. It may also give the impression that you’re a flighty customer who’s just hunting for signup bonuses.

Find a luxury credit card that fits your lifestyle

What do customers say about Chase Sapphire Reserve®?

Customers on the Chase website generally appreciate how far their points can get them when it comes to paying for travel costs. Complaints are common around customer service. Generally, customers find the customer service agents to be rushed or rude, and the lack of a chat feature was noted as a big drawback.

Chase earns a Trustpilot score of 5.5 out of 10 as of May 2018. Most negative reviews cite slow responses to fraud complaints and less-than-helpful customer service. Positive reviews praise the bank’s great mobile app and quick resolutions to their issues. Overall, your mileage may vary with Chase customer support.

The JPMorgan Chase Credit Card division earns an overall A+ rating from the Better Business Bureau.

Chase Sapphire Reserve® vs Gold Delta SkyMiles® Credit Card from American Express

How do I apply for the Chase Sapphire Reserve®?

  1. Go to the Chase Sapphire Reserve® website and click Apply now.
  2. Complete the application with your personal and financial information. Accept the terms and submit.

step 2 Chase Sapphire Reserve Credit Card

How long will it take for me to be approved?

After you submit an online application, you’ll find out about its status almost immediately as long as the information you submitted can be verified against your credit report. Chase will also send a letter with the application decision.

How long will it take to get my Chase Sapphire Reserve®?

Upon approval, your card will be sent by mail in five to seven business days, though many customers report receiving their cards expedited in two to three days. Your credit access line will be at least $10,000.

I got the card. Now what?

  • Keep track of your spending. Register with Chase Online to monitor your account activity 24/7.
  • Take advantage of your statement credit. You can get reimbursed for up to $300 in travel expenses in the form of statement credits every year. Be sure to check your card’s terms to find out what’s eligible and when the credits are applied.
  • Make use of the Global Entry or TSA Pre✔® fee credit. Every four years you can receive a statement credit of up to $100 towards application fees for either Global Entry or TSA Pre✔® when you pay for them using your Chase Sapphire Reserve®.
  • Sign up for Priority Pass. Follow the instructions you receive from Chase to complete the one-time activation of your Priority Pass.
  • Watch out for penalties. If your payments are late, you’ll pay up to $37. If your payments are late, you’ll pay a fee of $37.
  • Contact customer service. Get round-the-clock access to the Chase customer service team. Contact Chase at 1-800-432-3117, on Twitter @ChaseSupport or log in to your account to send a secure email.

Bottom line

The Chase Sapphire Reserve® is a good fit for people who seek exclusive privileges when traveling. With enough travel, you can offset the high $450 annual fee. Be sure to compare your options before you settle with any one credit card. You may be able to find a card that better fits your on-the-go lifestyle.

Common questions about the Chase Sapphire Reserve®

Images: chase.com

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Adrienne Fuller

Adrienne Fuller leads the publishing team at finder.com. She has one goal: to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. When she's not helping folks save money, she's hiking with her two Catahoulas around her home in San Diego.

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