Card dossier
Sapphire Reserve
Issuer
Chase
Annual fee
$795
Offer Strength
Great offer$480 above typical value
Show breakdown
Estimated bonus value: ~$2,400
Base score: 64
Hotel boost: +15
Ongoing hotel value (conservative): ~$180
• $300 annual credits
Current $2,400 vs typical $1,920
Net value after annual fee: ~$1,785
Estimate based on our value hints; not financial advice.
Annual Fee
$795/yr
Credit Score
Excellent credit recommended (740+)
Sapphire Reserve
Welcome Offer
Earn 150,000 bonus points after $6,000 spend in 3 months.
Eligibility Rules
These issuer rules may affect your approval or bonus eligibility.
Chase Sapphire once-per-lifetime
As of January 2026, each Sapphire card's bonus can only be earned once per lifetime. The old 48-month cooldown and one-Sapphire restriction have been eliminated. You can now hold both CSP and CSR simultaneously.
Chase 5/24 rule
Based on widely reported data, most Chase cards appear to decline applicants who have opened 5 or more personal credit cards (from any bank) in the last 24 months.
Duplicate ownership rule
Most banks are observed to decline applications for a card you already hold.
Rules reflect community-reported patterns, not official issuer policies.
Check your eligibilityEarning Rates
Chase Travel
8x points
Booked through Chase Travel
Travel
3x points
Eligible travel purchases
Dining
3x points
Restaurants and delivery
Key benefits
Premium travel value
Designed for frequent travelers.
Lounge access
Access to lounge networks on eligible terms.
Transfer partners
Move points to travel partners.
Travel credits
Annual travel credit may offset fee.
Perks
Lounge access
Access to select airport lounges.
Travel protections
Expanded travel coverage on eligible purchases.
No FX fees
No foreign transaction fees.
Paze 10x promo (targeted)
Targeted/YMMV 2026 promo: eligible Sapphire/Freedom cardmembers who received marketing communications may earn an additional 10x Ultimate Rewards with Paze checkout from 2026-05-01 through 2026-12-31, capped at $1,500 in combined purchases per month.
Chase Travel price match (targeted)
Some Sapphire Reserve personal/business accounts show a Chase Travel hotel price-match guarantee. Treat as targeted/YMMV: claim window, exact-property/room/date/cancellation matching, and minimum nightly-difference terms apply.
Ongoing Value
Annual benefits that offset the fee year after year.
Annual Credits
$300 in statement credits per year
$300 annual travel credit + Priority Pass lounge access.
Annual Fee Breakeven
Good fit for
About this card
The Chase Sapphire Reserve is Chase's flagship travel card, offering a $300 annual travel credit, Priority Pass lounge access, and the highest Ultimate Rewards earn rates in the Sapphire family. Points are worth 50% more when redeemed through the Chase travel portal, making it exceptionally valuable for frequent travelers.
Best for
Frequent travelers who spend heavily on travel and dining, and want premium perks like airport lounge access and trip insurance without juggling multiple cards.
Key considerations
The $795 annual fee is significant but partially offset by the $300 travel credit. Chase 5/24 still applies; the old Sapphire one-card restriction and 48-month Sapphire-family bonus restriction were eliminated in January 2026, with per-card lifetime bonus language now the key constraint.
Downgrade Options
If you decide to cancel, consider product-changing to keep your account history.
Retention Offers
Reported offers when calling to cancel or downgrade. Your offer may vary.
10,000 UR points
PhoneReddit · 2026-01
$150 statement credit toward annual fee
PhoneReddit · 2025-11
5,000 UR points
PhoneFlyerTalk · 2025-09
Tip: Chase retention offers are typically smaller than Amex. Call after the annual fee posts and mention you are considering downgrading to the Sapphire Preferred or Freedom.
Last updated: 2026-03. Not guaranteed.
Recent updates
Recent offer or rule changes that affected this card.
Card analysis
Offer analysis
The current offer on the Sapphire Reserve awards 150,000 points after spending $6,000 within 90 days of account opening.
Annual fee value
The $795 annual fee is partially offset by ongoing benefits including annual statement credits ($300), with an estimated total value of ~$300 per year.
In the first year, the sign-up bonus alone delivers approximately $1,905 in net value after the annual fee and benefit credits.
Application strategy
This card is subject to Chase’s 5/24 rule. If you have opened five or more personal credit cards from any issuer in the past 24 months, your application will likely be denied regardless of your credit score. Consider whether using a 5/24 slot on this card is the best use of your limited Chase applications.
This card belongs to the sapphire product family. Chase may restrict you from holding multiple cards in the same family or earning bonuses on related products. Review family-specific restrictions on our How It Works page before applying.
Analysis is auto-generated from card data and known issuer rules. Not financial advice.
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