Do you get bonus points for Chase Sapphire Reserve gas purchases?

Chase Sapphire Reserve is worth its $550 annual fee for frequent travelers who spend at least $4,000 in the first 3 months and qualify for the card’s initial bonus of 50,000 points. When a cardholder meets this requirement, the Sapphire Reserve card will pay for itself for the first year, and then some.… read full answer

Travelers will get a lot of value out of Sapphire Reserve because it offers a $300 annual travel credit, 3 points per $1 spent on travel and dining, and 1 point per $1 on all other purchases. There are several types of travel insurance, too, including a $1 million benefit for serious injury or death, plus a Priority Pass Select airport lounge membership that would usually cost $399 a year.

But all those features are only worth it if you travel frequently and have the excellent credit needed to get approved for Chase Sapphire Reserve. And after the first year, you’ll have to spend enough – or utilize enough of the card’s perks – to make it worth owning. For example, if you make the most of the Priority Pass membership ($399 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 Sapphire Reserve to be worth it, it’s important to pay the bill in full each month. Otherwise, you’ll end up paying 15.99% - 22.99% (V) interest on the unpaid balance, which will decrease the overall value of the card’s perks and rewards.

More moderate spenders who still want a Chase travel card with a solid complement of travel-friendly features may prefer the Sapphire Preferred card. It has an initial bonus of 60,000 points and gives 2 points per $1 spent on travel and dining. Points are worth just 1.25 cents each toward travel, compared to Reserve’s 1.5, but Sapphire Preferred’s annual fee is only $95.

The Chase Sapphire Reserve® credit score requirement is 750+. Chase says this card is for people with excellent credit, the highest tier in the credit score range. And while excellent credit is generally thought to start at 720, we really recommend a credit score of 750+ to maximize your chances of approval. With a lower score, the risk of rejection will be higher if Chase finds any negatives on your credit report or income-wise.… read full answer

You can check your latest credit score for free on WalletHub to gauge your odds. Just bear in mind that you’ll need more than a high credit score to get approved for Chase Sapphire Reserve. Let’s take a look at some of the other essential requirements.

Here are Chase Sapphire Reserve’s credit score & other approval requirements:

• 750+ credit score. You might find yourself getting approved with a lower score or denied with a higher one. But a credit score of 750 or higher definitely helps to maximize your chances.
• Eligibility. You must be over 18 years old with a U.S. mailing address and a Social Security number.
• Income. You don’t absolutely need a job, but you must have some kind of income and/or assets to prove to Chase that you have the means to pay for the charges you make.
• As little debt as possible. Chase will weigh your income against your debts to determine how much you can afford to borrow.
• No bankruptcy. You probably won’t be in this situation if you have an excellent credit score. But you won’t get approved while in active bankruptcy and will have a tough time as long as any record of bankruptcy is on your credit report.

So as you can see, a lot more than just your score goes into approval. But having an excellent credit score is still a very important requrement. If you’re not sure where you stand right now, you can check your latest credit score for free on WalletHub, the only site with free daily updates to your scores and reports. And if you find out that your credit isn't quite up to par, working to improve it can drastically increase your approval chances. For advice on what to do, check out your custom credit analysis.