Editor’s note: This is a recurring post, regularly updated with new information and offers.
For many years, the Chase Sapphire Reserve has been a favorite of travelers, even after the amazing introductory bonus of 100,000 points went away.
Currently, new applicants for the Sapphire Reserve will earn 60,000 Chase Ultimate Rewards points after spending $4,000 on purchases in the first three months from account opening.
This bonus is worth $1,200 based on TPG’s valuations, thanks to various ways to make the most of your Chase points — especially with its lucrative transfer partners like World of Hyatt and United Airlines MileagePlus. Alternatively, using those points for travel purchases directly through the Chase portal will still get you $900 in value.
This isn’t the highest offer we’ve seen on this card, but it still offers a lot of value.
Chase Sapphire Reserve card details
The bonus is just one reason to add the card to your wallet. The Sapphire Reserve also has solid earning rates across popular spending categories as well:
- 10 points per dollar on hotels and car rentals booked through Chase Ultimate Rewards.
- 10 points per dollar on dining purchased through Chase Dining.
- 10 points per dollar on Lyft rides (through March 2025).
- 5 points per dollar on flights booked through Chase Ultimate Rewards.
- 3 points per dollar spent on all other travel and dining worldwide.
- 1 point per dollar on all other purchases.
The card does have a $550 annual fee, though the array of benefits can easily cover that out-of-pocket cost.
The most valuable (and easiest to use) is a $300 annual travel credit, automatically applied to virtually any travel-related expense — from Uber rides to parking to airfare. You can also enjoy a statement credit for a Global Entry or TSA PreCheck application fee every four years, along with Priority Pass lounge access — including select airport restaurants.
In 2022, Chase Sapphire Reserve cardholders added a new perk of top-tier Lyft status. Cardholders now receive a complimentary Lyft Pink All Access membership for two years and a 50% discount on a third year. Valued at $199 per year, you’ll get benefits like free priority pickup upgrades, 10% off all Lux rides and a free one-year Grubhub+ trial.
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In addition, the card comes with many travel protections for when things go wrong — which may be particularly valuable now that we’re in the busy summer travel season. When you use your card for travel purchases, you’ll enjoy coverage like trip delay protection, trip cancellation and interruption insurance and primary car rental coverage.
It’s worth noting that many of these protections also apply to the Chase Sapphire Preferred Card — albeit to a lesser extent in some cases. In addition, the Sapphire Preferred offers a solid sign-up bonus (currently 60,000 points after spending $4,000 in the first three months of account opening) and comes with some unique benefits of its own, like a $50 annual hotel credit for reservations through the Chase travel portal and a 10% points bonus on your anniversary, all for a much-lower $95 annual fee.
Related: How I used Chase’s trip cancellation coverage to recoup $800 in nonrefundable airfare
Application restrictions
Bear in mind that Chase imposes a 48-month waiting period between earning sign-up bonuses on all Sapphire cards, and you can only hold one Sapphire card at a time. As a result, you won’t be eligible for the Sapphire Reserve offer if you’re currently a Sapphire Preferred cardholder or have received a bonus on the card in the last four years.
And don’t forget Chase’s notorious 5/24 rule, which applies to the Sapphire Reserve. If you’ve opened five (or more) personal credit cards across all issuers — not just Chase — in the last 24 months, it’s a near certainty that your application will be rejected.
Bottom line
If you’re eligible for the Chase Sapphire Reserve and hope to enjoy premium-level perks on summer travel, now could be a great time to add the card to your wallet. You’ll enjoy the benefits immediately and can use your welcome bonus to start booking this year’s holiday travel.
Official application link: Chase Sapphire Reserve with 60,000 bonus points after you spend $4,000 on purchases in the first three months.
Additional reporting by Emily Thompson.
