What are the best Chase Sapphire Reserve benefits?

Chase Sapphire Reserve is worth its $550 annual fee for frequent travelers who can spend at least $4,000 in the first 3 months and qualify for the card’s initial bonus of 50,000 points. Travelers will also get a lot of value out of Chase Sapphire Reserve because it comes with a $300 annual travel credit and good ongoing rewards.… read full answer

Key Things That Make Chase Sapphire Reserve Worth It

• You earn 1 - 10 points / $1 spent on purchases, including 10 points / $1 spent on select travel expenses.
• You’ll have an opportunity to earn an initial bonus of 50,000 bonus points for spending $4,000 in the first 3 months.
• Chase Ultimate Rewards Reserved points are worth 50% more than usual when you redeem them for travel through Chase Ultimate Rewards Reserved.
• There are several types of travel insurance, including a $1 million benefit for serious injury or death.
• You get a Priority Pass Select airport lounge membership that would usually cost $429 a year.
• You’ll receive a $300 travel credit each account anniversary year.

Tips for Getting the Most Out of Chase Sapphire Reserve

Chase Sapphire Reserve’s attractive features are only worth it if you travel frequently and have the excellent credit needed to get approved. You’ll also need to earn enough rewards – or utilize enough of the card’s other perks – to make it worth owning.

For example, if you make the most of the Priority Pass membership ($429 annual value), along with the $300 annual travel credit, you’d recoup the entire annual fee. That shouldn’t be hard for frequent travelers to do every year. And the more benefits you take advantage of, the less you need to spend to break even.

Finally, in order for Chase Sapphire Reserve to be worth it, it’s important to pay the bill in full each month. Otherwise, you’ll end up paying a 17.24% - 24.24% (V) interest rate on the unpaid balance, which will decrease the overall value of the card’s perks and rewards.

More moderate spenders looking for a travel rewards card without the huge annual fee should check out our editors’ picks for the best travel rewards credit cards to help narrow the search.

Chase Sapphire Reserve points are worth up to 1.5 cents apiece, depending on how you redeem them.

More specifically, when you redeem for travel through the Chase Ultimate Rewards travel portal, the Chase Sapphire Reserve value is 1.5 cents per point. However, Ultimate Rewards points are valued at 1 cent per point when redeemed for cash back or gift cards. This is the average redemption rate for credit card points. At the other end of the spectrum, Chase Sapphire Reserve points are worth only $0.008 each (100 points = $.80) when redeemed for purchases on Amazon.com.… read full answer

You may also get good value for your Chase Sapphire Reserve points if you transfer them to one of its transfer partners, which include British Airways Executive Club, JetBlue TrueBlue and Marriott Bonvoy, among others. Chase Sapphire Reserve points transfer at a 1:1 ratio, meaning 1 Ultimate Rewards point is worth 1 transfer partner point. How much value you’ll get for your Chase Sapphire Reserve points depends on how much the travel partner’s points are worth. Take note that you can only transfer points in 1,000-point blocks.

The easiest way to redeem Chase Sapphire Reserve points is through your online account or Chase Mobile App. Redemption options include travel, transfer to travel partners, gift cards, cash back, experiences, combine points and more. By far the best Chase Sapphire Reserve points redemption option is travel, as points are worth 1.5 cents each toward travel compared to 1 cent each toward other options.… read full answer

To redeem Chase Sapphire Reserve points online, log in to your Chase account on the Ultimate Rewards website and click on the Chase Sapphire Reserve card. Then, click the “Earn/Use” box at the top of the page to see a dropdown menu of redemption options. Click on any of the options from the menu to select that type of redemption. Lastly, follow the prompts to select the exact reward you want and how many points you want to redeem.

If you don’t want to redeem online, you can always call the number on the back of your card or visit a Chase branch, though a branch won’t book travel for you.

Here’s what Chase Sapphire Reserve points can be redeemed for:

• Travel: If you choose to redeem Chase Sapphire Reserve points for travel, you’ll be able to book right through the Ultimate Rewards site, trading your points for flights, hotel stays, cruises and more. Chase says that “some” bookings may require you to spend a minimum number of points.
• Cash: If you redeem for cash, you can either get a statement credit or a deposit to a U.S. checking or savings account. There is no minimum amount of points you must redeem for cash. If you redeem for a gift card, you’ll have to use a number of points equivalent to the value of the card.
• Transfer points: There are also two places you can transfer your Chase Sapphire Reserve points – travel loyalty programs and other Chase cards. Chase has 13 airline and hotel loyalty program partners you can move your points to at a 1:1 ratio. And you can move your points at no cost to another Chase card owned by you or a household member. But you probably won’t want to do that unless you’re gifting the points to someone else, as they’re worth the most toward travel on this card.
• Experiences: You can also redeem your Chase Sapphire Reserve points by trading them for unique experiences like VIP concert tickets or meals with renowned chefs.
• Gift cards: There are more than 150 gift card brands you van get with your points, ranging from restaurants to department stores to entertainment services.
• Amazon: There are other ways to redeem your points, too; You can use Chase Pay or Pay with Points from Amazon to use your points directly when shopping at retailers.
• Apple: Ultimately, you can use your points to pay for all or part of your Apple purchases through Apple Ultimate Rewards Store.

As you can see, there are plenty of ways to redeem your Chase Sapphire Reserve points. So, it’s a good idea to explore all your options before redeeming, to see which best suits your needs.