How to earn points
The Chase Sapphire Reserve earns Ultimate Rewards points at the following rates:
- 8 points per $1 spent on all Chase Travel purchases (after the $300 annual travel credit is used up)
- 4 points per $1 spent on flights and hotels booked directly with the airline or hotel (after the $300 credit)
- 3 points per $1 spent on all dining purchases worldwide, including takeout and eligible delivery
- 10 points per $1 spent on Peloton equipment purchases over $150 (through 2027)
- 5 points per $1 spent on eligible Lyft rides (through September 30, 2027)
- 1 point per $1 spent on all other purchases.
2025 travel category changes
The big change in the 2025 refresh: the card no longer earns 3X on all travel.
General travel — rideshares, transit, and bookings through third-party sites like Expedia — now earns just 1X. Elevated travel earning is concentrated on Chase Travel (8X) and direct airline/hotel bookings (4X), so where you book now matters far more than it used to.
Sapphire Reserve points value
Ultimate Rewards points earned on with the Chase Sapphire Reserve® have a base value of 1 cent each, but can easily push 2 cents per point or more. This means 10,000 points could be worth anywhere from $100 to $200+ based on how you redeem them.
Chase Travel bookings offer a base value of 1 cent per point, but the Points Boost program lets you redeem for up to 2 cents each on select premium flights and hotels when they align with your travel plans.
Transfers to partners also remains a high-value play. Hyatt (still 1:1 for the CSR and full of sweet spots) and airline partners like United, British Airways, and Air Canada Aeroplan all offer redemptions where points routinely clear 2 cents and can reach 3-4 cents on premium cabin awards.
Sapphire Reserve benefits
The Chase Sapphire Reserve commands a high $795 annual fee, but it layers on a bundle of perks and benefits that can more than offset the cost if you use them.
Core perks include a $300 annual travel credit, an annual hotel credit through The Edit, airport lounge access, trip protections, primary rental car coverage, and a growing stack of dining, event, entertainment, and subscription credits that can add up to well over $2,000 in advertised yearly value when fully used.
Airport Lounge Access (Priority Pass + Chase Sapphire Lounges)
The card includes a Priority Pass℠ Select membership covering 1,300+ lounges, plus complimentary access to the growing Chase Sapphire Lounge by The Club network with up to two guests, and select Air Canada Maple Leaf Lounges when flying a Star Alliance carrier.
The Sapphire Lounges are a genuine step above typical Priority Pass partners. Just note that guests beyond your two run about $59 per visit, and that authorized users get their own Priority Pass.
Up to $500 The Edit Hotel Credit
Up to $500 a year in statement credits on prepaid stays of two nights or more booked through The Edit by Chase Travel, capped at $250 per transaction across two eligible bookings. As of January 2026 it's no longer split into windows — you have the full calendar year.
The Edit also layers on perks like a $100 property credit, daily breakfast for two, and room upgrades when available. Purchases that trigger the credit don't earn points.
$300 Dining Credit
Up to $300 a year in dining statement credits — $150 from January–June and $150 from July–December — at restaurants in the Sapphire Reserve Exclusive Tables collection on OpenTable. No activation needed, but the semi-annual split means unused halves don't roll over, and only participating restaurants qualify.
$300 StubHub Credit
Up to $300 a year in credits — $150 January–June and $150 July–December — toward event tickets purchased through StubHub or viagogo (through 2027). Same use-it-or-lose-it half-year structure as the dining credit, and only useful if you buy live-event tickets.
$300 DoorDash Credit & Complimentary DashPass
The card includes a complimentary DashPass membership — which waives delivery fees and lowers service fees on eligible DoorDash orders — plus up to $300 a year in DoorDash credits, delivered as monthly promo credits you have to use within each month.
The value is real if you order regularly, but the monthly, use-it-or-lose-it structure is the catch: unused months don't roll over, and it splits across restaurant and non-restaurant (grocery/retail) promos, so it takes consistent ordering to capture the full $300.
DashPass itself continues for as long as you hold the card.
$120 Peloton Membership Credit
Up to $120 in statement credits per year toward a Peloton All-Access, App+, or App One membership (through 2027). It effectively covers several months of a Peloton app membership, so it's a genuine offset for existing Peloton users — and it stacks with the card's 10X points on Peloton equipment purchases over $150.
Worthless if you don't use Peloton, like most of the lifestyle credits.
$120 Lyft Credit
Up to $120 in Lyft credits per year — delivered as $10 in in-app credit each month — when you add your Sapphire Reserve as a payment method in the Lyft app (through September 30, 2027).
It's monthly and use-it-or-lose-it, and it pairs with the card's 5X points on Lyft rides, so for regular rideshare users it's an easy monthly credit to capture.
Apple TV+ and Apple Music
Complimentary subscriptions to Apple TV+ and Apple Music (through June 22, 2027) after you activate them in the Ultimate Rewards portal. Worth a few hundred dollars a year combined if you'd pay for them anyway — activation is required, so make sure this is one of the first things you do if you use either of these services.
IHG One Rewards Platinum Elite Status
Complimentary IHG One Rewards Platinum Elite status, which brings perks like room upgrades, late checkout, and bonus points at IHG properties. It's a nice add for IHG guests but applies only to the primary cardholder, not authorized users.
Other Shortcuts: You can also obtain complementary IHG One Rewards Platinum Elite status using the IHG One Rewards Premier Credit Card.
Global Entry / TSA PreCheck / NEXUS Credit
A statement credit of up to $120 once every four years toward Global Entry, TSA PreCheck, or NEXUS enrollment when you pay with the card.
$75,000 Spend Tier
Spending $75,000 on the card in a calendar year unlocks additional benefits, including further elite statuses and credits.
This includes IHG One Rewards Diamond status, Southwest Airlines A-List status, a $500 Southwest Airlines credit when booked through Chase Travel, and $250 credit to The Shops at Chase.
Realistically relevant only to very high spenders, but worth knowing if the card is your primary spend card.
Insurance and protections
The Sapphire Reserve carries one of the strongest travel-protection packages of any credit card — and notably, its rental car and trip coverage is primary, not secondary.
Coverage generally requires you to pay for the trip with the card or with Ultimate Rewards points.
- Trip Cancellation & Interruption
If your trip is canceled or cut short by sickness, severe weather or other covered situations, you can be reimbursed up to $10,000 per covered traveler and $20,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels.
- Trip Delay Reimbursement
If your common carrier travel is delayed more than 6 hours or requires an overnight stay, you are covered for unreimbursed expenses, such as meals and lodging, up to $500 per covered traveler.
- Auto Rental Coverage
Decline the rental company's collision insurance and charge the entire rental cost to your card. Coverage is primary and provides reimbursement up to $75,000 for theft and collision damage for most rental vehicles in the U.S. and abroad.
- Baggage Delay Insurance
Reimburses you up to $100 a day for up to 5 days for essential purchases like toiletries and clothing when baggage is delayed over 6 hours.
- Lost Luggage Reimbursement
Provides reimbursement up to $3,000 per covered traveler for the cost to repair or replace checked or carry-on baggage that is lost, damaged or stolen during a covered trip.
- Travel Accident Insurance
When you pay for your air, bus, train or cruise transportation with your card, you are eligible to receive up to $1,000,000 in accidental death or dismemberment coverage.
- Emergency Evacuation and Transportation
If you or a covered traveler are injured or become sick during a trip 100 miles or more from home that results in an emergency evacuation, you can be covered for medical services and transportation up to $100,000.
- Roadside Assistance
If you have a roadside emergency, you can call for a tow, battery assistance, tire change, locksmith or gas. You're covered up to $50 per incident 4 times a year.
- Emergency Medical and Dental
If you or an immediate family member become sick or injured while you're 100 miles or more from home on a trip, you can be reimbursed up to $2,500 for medical expenses, subject to a $50 deductible.
- Travel Accident Insurance
When you pay for your air, bus, train or cruise transportation with your card, you are eligible to receive up to $1,000,000 in accidental death or dismemberment coverage.
- Travel and Emergency Assistance
If you run into a problem while traveling away from home, this benefit provides legal and medical referrals and access to other travel and emergency assistance services. (You will be responsible for the cost of any goods or services obtained.)
- Return Protection
You can be reimbursed for eligible items that the store won't accept within 90 days of purchase, up to $500 per item, $1,000 per 12-month period.
- Purchase Protection
Covers new purchases against damage or theft up to $10,000 per claim and $50,000 per year, for 120 days.
- Extended Warranty
Extends eligible U.S. manufacturer warranties of three years or less by one additional year, up to $10,000 per claim.
Coverage details last reviewed Jul 15, 2026. Always confirm current terms in the issuer's guide to benefits before relying on coverage.
Transfer partners
Points earned with the Chase Sapphire Reserve can be transferred to 15 partners.
Transfers are where Ultimate Rewards points deliver their best value. World of Hyatt is the standout — a 1:1 partner where award nights routinely beat 2 cents per point — alongside airline partners like United MileagePlus, British Airways / Iberia Avios, Air Canada Aeroplan, Southwest Rapid Rewards, and Virgin Atlantic.
Southwest is worth a mention for domestic travelers thanks to its no-change/no-cancel-fee flexibility and consistent economy value, while the others shine on premium-cabin sweet spots where points can reach 3–4 cents each.
Fees
Annual Fee
The Chase Sapphire Reserve has an annual fee of $795.
This is significantly higher than many other travel cards but is paired with a handful of credits and high earning rates.
Authorized User Fee
Adding additional users to the Chase Sapphire Reserve cost $195 per authorized user per year.
Adding an authorized user can help you earn more points on their spending and may extend some travel protections to their trips, but it’s important to include that extra fee in your breakeven math.
Foreign Transaction Fee
The Chase Sapphire Reserve has a 0% foreign transaction fee on purchases made outside of the U.S. That makes it a strong choice for international travel, since you can earn bonus points on travel and dining while avoiding the extra cost that many non-travel cards still add on foreign purchases.
Is it worth it?
Whether the Sapphire Reserve is worth $795 comes down to one question: will you use the credits and perks, or let them expire? On paper the card advertises well over $2,500 in value, but much of that sits in use-it-or-lose-it credits tied to specific merchants and half-year windows. Your real return depends entirely on which ones fit your life.
The frequent traveler: easily worth it. The $300 travel credit (automatic), up to $500 in Edit hotel credits, lounge access, and primary rental coverage can clear the fee before the dining, StubHub, and Apple credits even come into play — and the 8X/4X earning plus Points Boost and Hyatt transfers make the points genuinely valuable.
The moderate traveler: it depends on the credits. If you'll book Edit hotels, dine at Exclusive Tables restaurants, and use the travel credit, you can offset most or all of the fee — but only if you stay on top of the deadlines.
The occasional traveler: likely overpays. If you won't reliably use the narrow credits or don't value lounge access, $795 is hard to justify, and the Chase Sapphire Preferred® Card offers similar transfer access and solid protections for far less.
Bottom line: the Reserve rewards travelers who actively work its ecosystem. Run your own spending and the credits you'd realistically use through the calculator to see exactly where you land — that's the honest answer for your situation.
