Is The Chase Sapphire Reserve Actually Worth Its $795 Annual Fee?

Chase Ultimate Rewards points are among the most valuable credit card point currencies, at approximately two cents per point. At this redemption rate, the bonus alone could be worth up to $2,500. As with any credit card welcome offer, you should only strive to hit the spending threshold if you know you can pay it off in full when your credit card bill is due. Otherwise, what you’d pay in interest on a revolving balance lessens the real value of the bonus.

In addition to earning points on airfare and accomodation, the card also earns 8X points on all purchases through Chase Travel. The Chase Travel portal allows cardholders to access Points Boost, where cardholders get two cents per point when booking a hotel that’s part of The Edit℠, a selection of luxury hotels and resorts, and up to two cents when booking other hotel or airline purchases. This can help your points go a little bit further, without having to transfer them to one of Chase’s travel partners.

Airport lounge access

The Sapphire Reserve offers some of the best airport lounge access of travel cards, not necessarily because of the number of available lounges, but because of its guest policy.

Cardholders can access the eight Chase lounges currently open, with locations in hubs like New York and Los Angeles. They’ll also get entry to over 1,700 lounges with a complimentary Priority Pass Select membership (valued at $469 annually) and entry to select Air Canada Lounges and Cafés in the U.S., Canada and Europe.

With the Sapphire Reserve, you can bring up to two guests into the Sapphire and Priority Pass Lounges, at no additional charges; for Air Canada, that’s one guest. The Sapphire Reserve’s airport lounge guest rule sets the card apart from its competitors as many travel cards have been cutting lounge access.

If you rarely travel solo, this is a big plus.

Travel credits & benefits

Accompanying the Sapphire Reserve’s travel benefits are two standout statement credits:

1. Cardholders can earn up to $500 annually, split into two $250 chunks, for stays with The Edit
2. Cardholders earn a less-restrictive $300 travel credit, which will automatically be applied to all eligible purchases categorized as travel

In addition to these two statement credits, cardholders will also receive complimentary IHG One Rewards Platinum Elite Status through Dec. 31, 2027.

Since stays at Chase’s The Edit properties can tend to be a bit pricier, having this $500 credit is a good chunk of cash to help cut down the cost. Plus, you’ll be eligible for perks including complimentary breakfast for two, $100 in property credit and a room upgrade at check-in if available.

The $300 travel credit is great for two main reasons: It applies to almost all aspects of travel, regardless of booking process, and it’s applied automatically; you don’t have to do anything aside from pay with your card.

Together, these two credits total $800 in value if maximized, plus the IHG Platinum Status offers access to free internet and breakfast, complimentary upgrades when available and reward night discounts.

The card offers up to a $300 annual dining credit, which is split into two $150 statement credits: one in the first half of the year and the other available in the second. Similar to the travel credit, it will automatically be applied to qualifying dining purchases made with the card. You’ll also have access to Sapphire Reserve
Exclusive Tables, which can help you secure reservations at some of the hardest-to-book restaurants in cities across the U.S.

While the Sapphire Reserve can help book exclusive restaurants, it can also help you on nights in with its complimentary DashPass membership, worth $120 in value, as long as you activate it by Dec. 31, 2027. You’ll also get up to $300 in annual DoorDash value through promos.

The Sapphire Reserve offers a good mix of point-earning capability, plus statement credits at restaurants — the value of these dining benefits totaling $720 annually.

• Apple TV+ and Apple Music subscriptions: Get complimentary subscriptions to both Apple TV+ and Apple Music through June, 22, 2027, valued at $250 annually
• StubHub credits: Once activated, receive up to $300 in StubHub statement credits, split into two biannual $150 increments and automatically applied to eligible purchases
• Lyft in-app credits: Access up to $120 in annual Lyft credits, divided up into $10 monthly credits through Sep. 30, 2027
• Annual Peloton membership: After your one-time activation, you’ll automatically receive a statement credit of up to $10 a month for a qualifying Peloton membership, through Dec. 31, 2027

The value of these credits that we’ve highlighted totals $790 in annual value. Many of these benefits aren’t all or nothing; you can use a portion of the benefit without needing to use it all at once, allowing you more flexibility.

Estimating how much value you’d use regarding your statement credits can help give you a starting point. While the flexible travel credit will likely be easier to get the full $300 value, if you’re not a frequent DoorDash customer, you might not use every ounce of the $420 benefits. Some benefits, including airport lounge access and upgraded hotel status, offer recurring value, making it harder to put an exact dollar number to it, so this will vary based on how often you travel.

The Sapphire Reserve offers many different avenues to recoup the card’s $795 annual fee, with value through travel, dining and other lifestyle credits. Just make sure to do the math to see if the card lines up with your spending habits.