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I’m pumped! I’ve just been approved for the new Chase Sapphire Reserve card. If you don’t know, the Sapphire Reserve is a brand new luxury travel rewards card from Chase bank. It’s a premium version of the popular Chase Sapphire Preferred. The Sapphire Reserve has a bigger bonus and more benefits, but it does have a larger annual fee. The Sapphire Reserve will compete with the Platinum Card from American Express and
Citi Prestige® Card as luxurious travel cards that offer an array of perks.
The Sapphire Reserve comes with a big bonus of 50,000 very valuable Ultimate Rewards points after spending $4,000 in 3 months.
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 50,000 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.
You will also earn 3x points per $1 on dining purchases. You will also earn 3X points on travel immediately after earning your $300 travel credit. That’s a great category bonus. 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
- Pay no foreign transaction fees
- World-class suite of travel and purchase protections
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 an 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 50,000 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 50,000 points 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. Earning 3x on dining and travel purchases is a very nice perk.
How about you? Are you applying for the new Chase Sapphire Reserve?
Chase Sapphire Preferred® Card
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
- 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.