The Chase Sapphire Reserve – Is It Worth It Getting One Of These?

chase sapphire reserve review top credit card rewards

Look, we get it! It is only human to want to join the crowd when it comes to a hot new credit card. The Chase Sapphire Reserve is a high-end travel rewards credit card that has gained a lot of attention in recent years due to its generous point-earning potential and other enticing perks. 

Great, but, you should know of the $550 annual fee for the card. The benefits may be worthwhile to certain users, whereas the same can’t be told for certain other users. But don’t sweat it because you will learn more about this black beauty and discover if it is the right choice for you. 

Continue reading this article to see if this baby should be in your wallet. Oh, and take a peek here

So, let’s see who stands to gain the most out of this rewarding credit card, shall we? 

chase sapphire reserve credit card worthwhile

Folks Who Want A Welcome Offer 

Prices for vacations have soared as the tremendous demand continues. In order to cut back on travel costs this year and beyond, many people are seeking for credit card sign-up bonuses. Applying for the Sapphire Reserve's welcome bonus could be worthwhile if you fall into this category. 

If you use your new card to make $4,000 in purchases during the first three months, you will receive 60,000 bonus points. Chase Ultimate Rewards points are only worth 1.5 cents each when redeemed through the travel portal, but can be transferred to a bunch of loyalty programs for a far higher value. Folks who can offset the annual fee through benefits 

You are probably thinking “is the Chase Sapphire Reserve card worth it because of its annual fee?” 

We want you to know that the $550 annual charge for the Sapphire Reserve Card is somewhat offset by the $300 yearly travel credit, as well as other perks including a credit for the application fee for NEXUS and Global Entry and access to airport lounges with a Priority Pass Select membership. 

In addition to free unlimited rides on Dash, Card Members get a $10 monthly credit on GoPuff. These benefits are worth hundreds of dollars, but only if you really use them. 

The value of a credit card after the initial year depends on more than just the welcome bonus. If you can make good use of these perks, the Sapphire Reserve may be a good option. 

People Who Can’t Access Perks From Another Card 

There is pretty much a glut of premium credit cards on the market, each promising its own set of perks to attract customers. Yay! But, you should also know that there are other credit cards that provide more bang for the buck than the Sapphire Reserve's somewhat hefty annual premium. 

The Sapphire Reserve isn't the only credit card that provides travel perks like lounge access and rebates for trusted travel memberships. Alternatively, you may find that a card with a higher annual charge offers a benefit package that better suits your needs. 

Only if you don't have access to these rewards through another credit card should you consider applying for the Sapphire Reserve. This type of card may not be necessary beyond the initial bonus offer if you currently carry another card that offers similar perks. 

However, the Sapphire Reserve is a great option if you don't already carry a premium credit card. 

Consumers Who Want To Earn Fast Rewards 

If you want to rack up Chase Ultimate Rewards beyond the first bonus, the Sapphire Reserve is the go-to card to get! You can get all kinds of bonuses on every day and travel purchases. Awesome, right? 

Once you roll up your sleeves and spend those $300 annu ally, you will pretty much receive 10 points per dollar spent on hotels and rental vehicles booked through Chase Ultimate Rewards. The portal's 5-point bonus for airfare bookings is hard to beat. Three points can be earned for any additional non-air travel expenses. 

Card members can get 10 points for every $1 spent on Lyft rides until December 31, 2024. Those who use the service frequently to get to know new cities can benefit greatly from this. 

Chase Dining purchases earn 10 points for the Sapphire Reserve , while purchases at all other restaurants, qualified delivery services, and takeout get 3 points. Click here for more about Chase Sapphire Reserve points and rewards for food purchases. 

Folks Who Are Under 5/24 

What exactly do we mean by that? Well, there is a rule that may or may not affect your eligibility for getting one of these bad boys. Chase credit card applications are subject to the 5/24 rule, which states that applicants who have opened 5 or more accounts at pretty much any bank during the past 24 months will be denied. 

If you fall under Chase's 5/24 age requirement, this could be a good time to apply for a card. 

You should still apply for the Chase card bonus while you can, even if you plan to switch to a different credit card issuer. The Sapphire Reserve is a strong contender among rewards cards due to its generous sign-up bonus and other benefits.

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