Chase Sapphire Reserve benefits include 50,000 points when you spend $4,000 in the first 3 months and a $300 annual travel credit. You also get 3 points per $1 spent on travel and dining, which works out to 4.5% back when you redeem for travel. Each Chase Sapphire Reserve point is worth 1.5 cents that way. Another great Chase Sapphire Reserve benefit is a free Priority Pass Select airport lounge membership, worth $429 per year. Plus, cardholders get several types of travel insurance, extra protection for purchases and more.

Chase Sapphire Reserve benefits come at a price: the card's $550 annual fee. So the perks are only a good value if you use them often. And to figure out whether you'll be able to do so, you have to know exactly what's available.

Top Chase Sapphire Reserve benefits:

Big bonus. You get 50,000 points after spending $4,000 in the first 3 months. That's worth $750 toward travel.
Extra travel earnings. 3 points per $1 spent on travel and dining, 1 point per $1 on everything else. Points are also worth 50% more when used for travel.
$300 annual travel credit. Chase will reimburse your first $300 per year in travel costs (flights, hotels, cruises, etc.). The travel credit no longer qualifies for 3 points per $1 spent in rewards.
Priority Pass Select membership. Free access to over 1,000 airport lounges throughout the world. Limit of two free guests for airport lounge visits. Additional passes are $27.
No foreign transaction fees. You won't pay extra for purchases from foreign merchants.
1:1 point transfer. Exchange your Chase Ultimate Rewards points for miles or points from 13 airline and hotel loyalty programs.
$100 application fee credit. If you apply and are accepted to Global Entry or TSA Precheck, Chase will reimburse your application fee.
Travel insurance. You get well over $1 million in total insurance coverage for incidents including travel accidents, emergency evacuation, trip cancellation/interruption, baggage problems and rental car damage, among others.
Purchase/Return Protection. Purchase protection covers items bought with Reserve against damage and theft, up to $10,000 per item and $50,000 per year. Return protection covers working items you tried to return but couldn't, up to $500 per item and $1,000 per year. Chase eliminated its price protection benefit on 8/26/18.
Extended warranty. Items you buy with Reserve that have a warranty of 3 years or fewer can have their warranty extended by 1 year.

There's also roadside assistance, where Chase will send someone to help if your car breaks down or runs out of gas. You're covered for up to $50 per use, four times per year. Anything more than that you'll have to pay yourself. Plus, there's special customer service for people having travel emergencies.

So, as you can see, Chase Sapphire Reserve is packed full of benefits. If you travel all the time, you'll probably get more than your money's worth. But if you're a less frequent traveler and not a heavy spender, the $550 annual fee might make you want to think twice.