Why the Chase Sapphire Reserve is Worth the $550 Fee
I love the chase sapphire reserve so much I convinced all my friends to get it LOL
I’m a longtime fan of the Chase Sapphire Reserve card….having signed up in the very beginning - I had every intention of cancelling the card after collecting the bonus so I didn’t have to pay the hefty $450 annual fee again (UPDATE: as of Jan 2020 fee has gone up to $550). But a year later at renewal, I was so convinced the Chase Sapphire Reserve benefits more than made up for the cost that I did NOT cancel it after all. In fact, after years of churning cards to collect airline points, this card finally hooked me. Each year I think I’m going to cancel it and then I ultimately decide the travel benefits outweigh the cost!
If you're in the market for a new travel credit card or just love traveling and travel perks - you should absolutely have the Chase Sapphire Reserve card in your wallet and I'm about to explain why. Although it comes with a hefty annual fee ($550/year as of Jan 2020), the perks and earning potential more than make up for that.
While the Chase Sapphire Reserve card benefits are quite extensive, I’ll start with the most obvious initial perk - the 50k sign on bonus. This can be easily redeemed (in like seconds, it's amazing) through the Chase Ultimate Rewards Travel Portal. And the best part is, pretty much all airlines are on the table (you aren't restricted to flights from one airline alliance), and the flights you book still will still count towards elite status (elite qualifying dollars, miles, segments) - which isn't the case when redeeming miles for free flights via airlines. 50k points are worth $750 - so that's a free international flight right there!
There is also a $100 credit for Global Entry or TSA Pre-Check (which is honestly the best bc who likes waiting in long lines at airline security!!!)
The Chase Sapphire Reserve offers a $300 travel credit each year. This is based on the calendar year…so you’ll start getting the refund as soon as you sign up and then come the following January it will start over and you’ll get the $300 credit again. There is a pretty loose definitely of what is considered travel spending—everything from parking meters, to Ubers, to flights, hotels, etc.
The card also offers 1 point per dollar spent and 3 points for every dollar spent on travel and dining, and these points can add up fast and be used either as cash back or redeemed thru the travel portal for 50% more. Let me put that in perspective for you - last month, I spent a lot on travel and dining and earned 11K points - which is worth about $165 when redeemed thru the Ultimate Rewards Travel Portal. I put a lot of work expenses on my Chase Sapphire Reserve card and last year I earned almost 100,000 points which were worth close to $1500 when redeemed for travel!
So you can probably already see how it’s worth it to keep the card even after you’re beyond the sign on bonus & global entry credit. I pay $550 fee, and in return I get a $300 travel rebate PLUS points for spending on travel/dining (last year amounting to around $1500).
Here are a few of the perks that make it worth the $550 fee:
$750 in Ultimate Rewards Points + points for whatever you spend on travel & dining
$300 rebated on travel
$100 credit for Global Entry
$240 Lyft Pink Membership ($20/month)
$60 DoorDash credit & complimentary Membership
3x points per dollar on travel & dining (depending on your spending patterns, could be $1500 or more a year!)
And those are just the monetary value perks. There are other great travel credit card benefits as well such as:
Airline lounge access (Priority Pass clubs are all over the world)
Primary rental car insurance (covering theft & damage)
Roadside assistance
Trip delay insurance
Lost baggage insurance
Baggage delay insurance
Trip cancellation/interruption insurance
The Chase Sapphire Reserve customer service is top notch. Every time I’ve dialed the number on the back of the card, the phone gets answered immediately by a human and I’m helped. None of that electronic system, waiting in line for 10 minutes, etc.
I guarantee you will love this card! I’ve literally had all my friends sign up. It is hands down the best credit card for travel out there.
Please reach out if you have ANY questions.
xoxo
Lauren
