The Chase Sapphire Reserve is an incredibly popular travel credit card, one of the few cards to approach “household name” status.
The card has a high annual fee — it recently increased to $550 to compensate for new benefits.
For those who travel, it can be easy to get even more value in return, thanks to perks like statement credits with DoorDash and 10x bonus points on Lyft rides.
You can earn rewards quickly on your normal everyday spending, and there’s a big sign-up bonus.
See Business Insider’s list of the best rewards credit cards »
When Chase launched its Sapphire Reserve credit card in 2016, it got the kind of hype normally reserved for the newest iPhone.
Part of the buzz was the incredible 100,000 points that Chase offered as a sign-up bonus when approved applicants spent $4,000 within the first three months of card membership. Those points were worth anywhere from $1,000 – $1,500, or even more if you were savvy about transferring them to frequent flyer partners.
Even with the since-lowered bonus of 50,000 points (with the same spending requirement), the Sapphire Reserve is an extremely valuable card. The annual fee recently increased to $550 (up from $450), which puts it on par with the Platinum Card® from American Express, the other high-profile luxury travel card. But even with the higher annual fee, the Sapphire Reserve can be a great choice for frequent travelers who value luxury perks and bonus rewards.
Click here to learn more about the Chase Sapphire Reserve »
Keep in mind that we’re focusing on the rewards and perks that make these credit cards great options, not things like interest rates and late fees, which will far outweigh the value of any points or miles. It’s important to practice financial discipline when using credit cards by paying your balances in full each month, making payments on time, and only spending what you can afford to pay back.
Chase Sapphire Reserve card details
Annual fee: $550
Sign-up bonus: 50,000 points after you spend $4,000 in the first three months
Points earning: 1ox points on Lyft rides, 3x points on travel and dining, 1x on everything else
Foreign transaction fee: None
The Chase Sapphire Reserve offers a sign-up bonus of 50,000 Ultimate Rewards points after you spend $4,000 in the first three months. That’s a solid bonus — based on travel website The Points Guy’s subjective valuations, Chase points are worth 2 cents apiece, so 50,000 gets you $1,000 in value — but the Sapphire Reserve’s sibling, the Chase Sapphire Preferred Card, actually offers a higher bonus. With that card, you can earn 60,000 points after you spend $4,000 in the first three months.
Of course, sign-up bonus is only one factor to consider about a credit card, and the Sapphire Reserve is more rewarding for travel and dining purchases, and offers more benefits overall.
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Source:: Business Insider – Life