The Chase Sapphire Reserve annual fee is $550. Its effective annual fee is a lot lower, though, because the Sapphire Reserve card also comes with a $300 annual travel credit. Reserve’s initial bonus of 50,000 points for spending $4,000 in the first 3 months is worth another $750 in travel too. Between the initial bonus and the $300 annual travel credit, Sapphire Reserve’s annual fee is covered for the first few years.
Chase Sapphire Reserve tacks its annual fee onto your first month’s bill when you open an account and charges it again each year on your account anniversary. In addition to the card’s bonuses, you’ll get 3 points per $1 spent on travel and 1 on all other purchases. To round it out, you’ll get free access to 1,000+ airport lounges worldwide with a free Priority Pass Select membership. That has an annual value of $429.
If you take advantage of all the card’s benefits and travel often, the card becomes worthwhile. But if you’re not a frequent traveler, a travel rewards card with a smaller fee probably makes more sense. For example, Chase’s Sapphire Preferred card offers fewer perks than Reserve but only charges a $95 annual fee.