Chase Sapphire Reserve Review: Is It Worth the $795 Annual Fee?
For years, I really had no interest in the Chase Sapphire Reserve.
My first travel credit card was the Chase Sapphire Preferred, and at the time, even paying a $95 annual fee was a lot for me. Up until then, I had only stuck with no-annual-fee cash back cards (looking at you, original Freedom), so the idea of paying for a credit card at all took some getting used to. I was able to realize value quickly, however, when P2 and I used the points earned from us each opening the Sapphire Preferred to go on a heavily discounted European honeymoon to four different countries.
When Chase first launched the Reserve with a $450 annual fee, it already felt expensive to me and then it increased to $550. Now, at $795, it gives most people a lot of pause (including me).
For a while, there wasn’t really any reason for me to consider it anyway given where I started with my travel hacking cards.
Under Chase’s old Sapphire rules, if you had already received a Sapphire Preferred sign-up bonus, you were not eligible for a Sapphire Reserve sign-up bonus at all. That made the Reserve something that I couldn’t add, even if I wanted to. Well, I could have added it, but I wouldn’t have been able to take advantage of a 100,000+ point sign-up bonus, so it wasn’t in my mind. So it just wasn’t an option given I already had the Sapphire Preferred. But in 2026, Chase decided to change its rules.
When I was due for a new card, the Sapphire Reserve offered 125,000 points after hitting the minimum spend amount ($6,000 in three months). Sure, I’ll take those points, and Chase Ultimate Rewards points are our favorite to accrue because of how flexible they are with travel partners we prefer and frequently use. I’ve also seen the offer go as high as 150,000 points at times, but I wasn’t worried about waiting to see how many Ultimate Rewards points they might offer. I had some spend coming up, and I wanted Chase points, simple as that.
Over the next year, I’m tracking how much actual value we get from the credits, how naturally the perks fit into our normal spending, and whether this card deserves a long-term place in my wallet. And my answer has changed from what I originally thought when I opened the card.
Chase Sapphire Reserve Annual Fee
The Chase Sapphire Reserve has a $795 annual fee, which is a lot of money for a credit card. Premium travel cards have shifted from simple rewards structures into collections of credits, memberships, and perks that require more effort to maximize. Or, as many people refer to them, they’ve become “coupon books”. The Sapphire Reserve definitely fits that category.
There is an important difference between a card being expensive and a card being worth it. The first year is easy for me to justify because of the sign-up bonus. The primary question is whether the ongoing benefits and credits offset enough of the annual fee to make this a long-term keeper card.
I opened the card in March and thought I knew my answer. But a few months later, my answer started to change.
Earning Categories
The Sapphire Reserve has some strong earning categories, especially if you spend heavily on travel and dining.
The card currently earns:
- 8x points on Chase Travel purchases
- 4x points on flights and hotels booked directly
- 3x points on dining worldwide
- 1x points on all other purchases
That said, I don’t think the earning rates alone justify the annual fee because I can get comparable or better earning rates from my existing credit cards with lower annual fees. Other Chase cards (the Freedom Unlimited, Freedom Flex, and Sapphire Preferred) all offer low ($95) or no annual fee if dining at 3x is what you’re after.
We typically book our hotels and airlines with our respective cards with our preferred providers. This earns us more than 4x with our United and Marriott accounts, so that 4x isn’t an incentive. We also don’t book through Chase travel because we prefer to have the direct line to the company booking rather than a third-party (Chase) in case we have issues.
So even though the elevated categories weren’t a reason to get the card, it was easy to add for at least a year since we already use other Chase cards, and having the Reserve allows us to pool points together and redeem them across our household.
$75,000 Annual Spending Benefits
One of the newer additions to the Chase Sapphire Reserve is a number of benefits that cardholders can earn after spending $75,000 on the card in a calendar year.
If you hit that spending threshold, you’ll receive additional Sapphire Lounge guest privileges, Hyatt Explorist Status, IHG One Rewards Diamond Elite status, Southwest A-List status, and a $500 Southwest Airlines credit through Chase Travel.
For some people, those benefits could be quite valuable, especially if you’re already putting significant expenses on your credit card. I’d argue, however, that if you have $75,000 worth of credit card spend that you’d be better off opening credit cards for the sign-up bonus or allocating the spend to cards that earn more points per dollar than the Sapphire Reserve.
For us, this aspect of the Chase Sapphire Reserve isn’t a factor in the decision to get or keep the card. Like many travel hackers, we spread spending across multiple cards to earn sign-up bonuses, maximize category bonuses, and take advantage of different benefits. Putting $75,000 on a single card is not something we come close to doing. I also don’t know if I’ve ever stayed at an IHG hotel, and the last time I flew Southwest was nearly four years ago. And before that? Three-plus years, so Southwest benefits really do nothing for me. We do stay at Hyatts when redeeming points, but Explorist isn’t a differentiator we’re inclined to chase.
It’s worth mentioning because these benefits may be a difference-maker for some people, but I don’t assign them any value when evaluating whether the Sapphire Reserve is worth keeping.
Chase Sapphire Reserve Benefits
This is the complete breakdown of what the Chase Sapphire Reserve currently includes.
Travel Benefits
- $300 annual travel credit
- $500 annually for prepaid bookings made with The Edit, and $100 property credit plus breakfast for 2 (minimum two-night stay, $250 per transaction)
- Access to Chase Sapphire Lounge Network (Sapphire Lounges + select partner lounges)
- Priority Pass Select membership (1,300+ lounges worldwide)
- Up to 2 complimentary lounge guests per visit
- Global Entry, TSA PreCheck, or NEXUS fee credit (up to $120 every 4 years)
- Points Boost / enhanced redemption rates on certain Chase Travel bookings
Additional Credits
- $10 monthly Peloton credit (up to $120/year)
- Up to $420/year DoorDash credits (Two $10 non-restaurant + $15 restaurant monthly credits)
- Complimentary DashPass membership (worth $120 a year)
- Up to $120/year Lyft credits ($10 a month)
- Up to $300/year StubHub / ticket credits (split into two $150 increments for January – June and July – December)
- Up to $300/year to Chase Sapphire Reserve Exclusive Tables (split into two $150 increments for January – June and July – December)
- Complimentary Apple TV+ and Apple Music (limited-time promotional benefit depending on offer period) – worth $288
Travel & Protection Benefits
- Primary rental car insurance
- Trip cancellation/interruption insurance
- Trip delay reimbursement
- Lost luggage reimbursement
- Emergency evacuation and travel assistance services
Hotel & Elite Benefits
- Complimentary IHG One Rewards Platinum Elite status
- Access to Chase Luxury Hotel & Resort Collection (The Edit-style bookings and partner perks)
Experiences & Extras
- Access to Chase Experiences (exclusive events, concerts, dining, and travel experiences)
- Travel concierge services
Chase Sapphire Reserve Credits and Benefits (What I’m Actually Using)
Credit card companies will advertise “up to” x amount in value, but that really isn’t something many people hit without concentrated effort.
Here’s what we’ve actually used so far or are planning to use .
$300 Annual Travel Credit
I booked a $360 United flight not long after getting the card and Chase automatically reimbursed $300. Spend on the card and get it reimbursed quickly, easy to use.
DoorDash Monthly Credits (Up to $300/year)
When I opened the card earlier in 2026, the card included:
- $10 monthly non-restaurant credits (2x per month)
- $5 monthly restaurant credit
We’ve been using these consistently for normal orders because we’re already fans of DoorDash. I’ve seen complaints that the $10 non-restaurant credits are especially hard to use, and for some people, not worth it because few places that accept the credit allow pickup, so you’re paying delivery fees and not really getting that much for your $10. I’ve always used it for delivery and haven’t searched for pickup, so your mileage may vary. I’ve typically used it at 7-Eleven, which has frequently had monthly deals like $5 off $25, and I’ve stacked that with the $10 off plus two-for-one deals or additional discounts.
There’s no one right way to use it, but I’m sharing my experience for reference.
Each month, the credits are automatically loaded to your DoorDash account. Then, when you go to checkout, you’ll see the option to select the credit for that purchase. Toggle that option, check out as normal, and save a little bit of money.
We also stack DoorDash orders with DoorDash gift cards purchased through MileagePlus X, which lets us earn additional United miles on spending we were already doing anyway.
In October 2026, Chase changed it so the $5 credit became a $15 credit for any DoorDash order, not just restaurants. The two $10 non-restaurant credits remained unchanged.
This is an easy $35 for us to use monthly, but if you’re spending a lot of money you normally wouldn’t just to take advantage of it, it’s not truly a perk.
Peloton Credit ($120/year)
We were already paying for Peloton before getting the card, so this credit is easy to use. Set your Sapphire Reserve as the primary payment method, and the -$10 will show up pretty quickly after the monthly payment posts.
TSA PreCheck Credit
After getting the Sapphire Reserve, my TSA PreCheck was up for renewal so I used the card to renew it for $58.75 and was fully reimbursed. The credit applies every four years and can be used for TSA PreCheck, Global Entry, or NEXUS.
One nuance: TSA PreCheck lasts five years, so the timing doesn’t always align perfectly with the credit cycle.
DashPass Membership
The Sapphire Reserve includes complimentary DashPass membership, which is valued at approximately $120 per year.
I previously had a DashPass membership through my Sapphire Preferred, so this wasn’t a brand-new benefit for me. However, because I’m now using my Sapphire Reserve as the card attached to my DoorDash account to take advantage of the increased monthly credits ($35 on the Reserve vs $10 on the Preferred), I’m including the value in my calculations.
StubHub Credits ($300/year)
The Sapphire Reserve also includes up to $300 annually in StubHub credits, split into two six-month periods.
I used my January through June credit to buy baseball tickets and saw the $150 statement credit post afterward. Since we already go to games and events throughout the year, this one is usable.
We also used the July – December one early in July, so this benefit is one I’m getting the full $300 out of annually. Plus, you can stack Stubhub with Rakuten to earn Amex or Bilt points in addition to using your credit.
Unlike some credits that require changing spending habits (and therefore we won’t be using), this covered something we were going to buy anyway.
Sapphire Reserve Exclusive Tables ($300/year)
There are a list of restaurants you can find here, where you can use your Sapphire Reserve and be reimbursed up to $150 every six months. Luckily for me, I live in Chicago where there are several restaurants I eat at that are eligible. If I’m ever not going to the restaurant before my credit expires, I purchase a gift card. Gift card purchases at the restaurant can be eligible depending on the location.
If you’re unsure if it will be erased with the credit, do a smaller test purchase before spending all $150 and assuming it will be credited.
Total Real Value Based on Credits Used
| Benefit | Value |
|---|---|
| Travel Credit | $300 |
| DoorDash Credits | $420 |
| Peloton Credit | $120 |
| TSA PreCheck | $58.75 |
| DashPass | $120 |
| StubHub | $300 |
| Sapphire Reserve Exclusive Tables | $300 |
| Total | $1,618.75 |
This amount does not include the sign-up bonus.
So far, I’ve received almost $1,700 in value from credits from the $795 annual fee, and that doesn’t include the value of the 125,000-point welcome bonus.
In that case, it might be an easy decision to keep the card for some people. But given the cards I have and my travel & earning habits, I had to give it some additional thought.
The Travel Protection Benefits are fine, but they’re pretty much the same as the ones you get with the Sapphire Preferred ($95 annual fee). Some slight differences in timing and amounts, but not substantial enough for this to be a differentiator in keeping the card.
And you may travel differently than I do. If you use just the travel credit and The Edit credit (which I don’t see myself using), that’s $800 a year, so you’re already coming out ahead of the $795 annual fee with only two credits.
Airport Lounge Access
Airport lounge access can be a nice perk for many people, and it’s definitely something we take advantage of using our United Club Card. The Sapphire Reserve includes Priority Pass access and Sapphire Lounges.
Sapphire Lounges are currently located in airports including Boston, New York (JFK and LaGuardia), Philadelphia, Phoenix, San Diego, Washington Dulles, Las Vegas, and Hong Kong, among others.
The limitation for us is that our home airport is Chicago O’Hare, and there is currently no Sapphire Lounge there. That makes this benefit less relevant for our actual travel patterns and one that I’m unlikely to frequently use during the first year I have the card. I did visit the Sapphire Lounge at LaGuardia in September and was very impressed – so if there was a Sapphire Lounge at O’Hare, that would make this card an easy keeper for me.
I’ve also had Priority Pass access through the American Express Platinum Card for a few years, but I’ve never used it once. So while it is technically a benefit of the card, it doesn’t factor into my evaluation. If you do use a Sapphire Lounge, the guest policy allows up to two guests per cardholder.
Chase Ultimate Rewards
Even with all the credits, the real long-term value is still the fact that you’re earning Chase Ultimate Rewards. And this actually was a primary factor in my decision to keep the card (even though my annual fee isn’t posting for a while).
In June 2026, Chase announced that the transfer ratio for World of Hyatt for Sapphire Preferred Members was changing from 1:1 to 4:3. While we don’t stay at Hyatts a lot given our loyalty to Marriott, we’ve gotten enough benefit from that for it to be a factor for us. We wanted that 1:1 transfer that now only comes with the Reserve, not the Preferred.
That plus the benefits I was able to get from only a few months of the card was enough for us to decide to keep it beyond the first year.
Who should consider the Chase Sapphire Reserve?
After using the card for a few months, I think the Sapphire Reserve makes the most sense for travelers who:
- Can naturally use the provided credits without changing their planned spending
- Want access to Chase Ultimate Rewards transfer partners (and don’t already have a card that gives them access like the Chase Sapphire Preferred)
- Have access to Sapphire Lounges or Priority Pass locations they’ll actually use
- Spend enough on travel and dining to take advantage of the earning categories (if you don’t have a card earning equal or more with a lower annual fee)
On the other hand, the card may be harder to justify if you already have overlapping benefits through other credit cards.
Is the Chase Sapphire Reserve Worth It?
Right now, my answer is: it depends (like most things in travel hacking).
The sign-up bonus makes it an easy decision to get the card because 125,000+ Chase Ultimate Rewards points are easy to use. The ongoing value depends entirely on how easily you can use the credits without changing your spending. The changes to Hyatt could be make or break depending on how you like to travel, so it could be easier to justify keeping the card.
It could be a fit for you, so if you open the card, evaluate whether it fits with you and your travel preferences and goals.