The Chase Sapphire Reserve annual fee is $550. Its effective annual fee is a lot lower, though, because the Chase Sapphire Reserve card also comes with a $300 annual travel credit. Moreover, this card has an initial bonus of 60,000 points for spending $4,000 in the first 3 months. Between the initial bonus and the $300 annual travel credit, Chase 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 / $1 spent on travel and dining, and 1 point / $1 on all other purchases. To round it out, you’ll get free access to 1,300+ 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 Sapphire Preferred® Card offers fewer perks than Chase Sapphire Reserve but only charges a $95 annual fee.