The strains of active-duty military service are unmatched in difficulty and intensity. In this line of work, it’s important to arm yourself not only with the required military equipment but also with tools that can make your everyday life easier. One of the biggest stressors I encountered for myself and my family during active duty was constant travel.
With this in mind, let’s talk about a travel tool I wish had existed in its current form during my service to make that part of my life a little bit easier. I’m talking about the Chase Sapphire Reserve® and how it took the credit card market by storm in 2016 and continues to remain firmly entrenched as one of the most rewarding credit cards on the market.
Let’s look at the card benefits that are most valuable to service members so you can decide if it deserves a spot in your wallet.
No annual fee
On Sept. 20, 2017, Chase instituted a significant policy change to comply with the Military Lending Act (MLA). Because of the 36% MAPR (military annual percentage rate) cap, including fees, for a credit card account, Chase erred on the side of caution and waived the Sapphire Reserve’s annual fee of $550 for military personnel for any accounts opened on or after Sept. 20, 2017.
Under the same policy, Chase waived all account fees — except for late fees and insufficient-funds fees. This includes the $75 authorized-user fees. These benefits are also being applied to the accounts of military dependents who are primary cardholders, but they must be enrolled in the Defense Enrollment Eligibility Reporting System (DEERS).
The fee waivers are reportedly being automatically added to new accounts as Chase compares Social Security numbers to DOD databases. A letter explaining the MLA benefits usually goes out to a military cardholder or dependent shortly after the card itself. If it doesn’t, you can always send a secure message to Chase through Chase.com or call the Chase military desk at 1-877-469-0110 and request the benefits. Receiving the card, the sign-up bonus, and all the Chase Sapphire Reserve benefits (including the annual $300 travel credit) without having to pay the annual fee is an incredible deal for military members.
Redeem points for 1.5 cents each or more
Chase Ultimate Rewards are points earned by the Sapphire Reserve that can be transferred to 11 airline and three hotel partners. This unlocks the door to getting outsized value from your points by splurging on a Park Hyatt hotel stay or international business- or first-class flight. Of course, while on active duty, you may not have the luxury of time or advance planning to make use of all of these ways to maximize your points. But those options exist when you are ready.
Visit Chase Travel℠, where you can redeem Chase Ultimate Rewards points earned with the Sapphire Reserve — or combined from other Ultimate Rewards cards to your Sapphire Reserve — at 1.5 cents each toward any travel booked via that site.
A flight, hotel, rental car, cruise or local experience can be booked with your points at this fixed 1.5-cent rate.
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So, for example, if a plane ticket is $200, it will cost you 13,333 points when booked via Chase if you have the Sapphire Reserve. This is a fantastic value compared to most other rewards programs. On top of the benefit of ease-of-use and flexibility, flights booked through the portal are treated like paid tickets in the eyes of the airlines (most of the time), and you’ll actually earn redeemable and elite-qualifying airline miles on the tickets booked via this manner.
Priority Pass airport lounge membership
The U.S. military travels the world, meaning you may want airport lounge access in far-flung commercial airports. Priority Pass Lounge membership gives you access to more than 1,300 lounges. And as a Chase Sapphire Reserve cardholder, you can bring unlimited guests with you for each lounge visit.
I wouldn’t recommend bringing your entire ship’s crew to the lounge, but your entire family should be no problem. During my nine years of military travel, I was consistently pleased to find a Priority Pass lounge in almost every airport the Navy required me to visit in Asia and the Middle East.
$300 annual travel credit
Every membership year you’ll receive a $300 travel credit good for almost anything you purchase that would remotely count as travel.
If you’re not quite sure if an expense would be considered “travel,” that term is defined on the Chase website as follows:
“Merchants in the travel category include airlines, hotels, motels, timeshares, campgrounds, car rental agencies, cruise lines, travel agencies, discount travel sites, and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages.”
Global Entry/TSA PreCheck credit
If you’re in the military, you need Global Entry and TSA PreCheck.
If you stay in service for more than a few years, you’re going to travel internationally and there’s a good chance it will be via commercial air much of the time. So skip the immigration return line by taking advantage of the up to $100 Global Entry and TSA PreCheck credits that come with your Sapphire Reserve.
You’ll be reimbursed once every four years for the fee, and if you already have Global Entry or TSA PreCheck, you can use this fee waiver to get a friend or family member registered for free. Anyone can use the credit, not just the cardholder.
When should you sign up?
If I were still on active duty and looking for a credit card, this is the number one card I’d get.
With no annual fee, valuable rewards and all of the travel benefits, it should occupy the first slot in your wallet. It’s also great to start with a Chase card in order to maximize your 5/24 policy standing before moving to other card issuers.
Anyone, military or not, should make sure your credit is in good standing before applying and be certain your family has clear and consistent personal finance goals and organization, especially before a deployment or extended travel period.
Bottom line
The Chase Sapphire Reserve offers excellent travel benefits for no annual fee if you’re an active-duty military member. Don’t forget about other benefits of the card, such as built-in trip delay insurance, Luxury Hotel & Resort collection access and the primary collision damage waiver insurance when you rent a car. Ensure you also spend a little time learning how to maximize your Ultimate Rewards points to get every bit of value out of this great product.
Apply here: Chase Sapphire Reserve
