The Chase Sapphire Reserve is one of my favorite credit cards in my wallet. Whenever friends or family ask for my suggestion on which travel rewards credit card they should apply for, I always tell them the Chase Sapphire Reserve. In order to save some time, I decided to write about the benefits of the card so I can quickly share the information in the future. This post is also the first in a series covering premium travel rewards credit cards.

Premium Product

This card falls into the premium category because of its exhaustive benefits and hefty annual fee of $450. It’s targeted towards travelers so if you don’t travel too often then you probably will not maximize all the benefits. The first benefit is that Chase provides an annual $300 travel credit. This immediately reduces your annual fee to a net $150. The $300 credit is automatically triggered whenever you make a qualifying travel purchase. This means you could buy a $300 flight and immediately receive the full statement credit. You could also pay for 10 different Uber rides at $30 each and get reimbursed $30 per transaction over time.

 

Points flexibility

Chase Ultimate Rewards points transfer to nine different airlines and four different hotel brands. They even transfer at a 1:1 ratio. This provides incredible flexibility rather than simply opening a credit card with one specific airline and only earning their miles. Combine these airline partners with their respective alliances, then there are even greater opportunities to redeem. For example: United is a Star Alliance member which includes nearly 30 airlines. You can transfer 30,000 Chase Ultimate Rewards points to United. Then redeem the United miles for an economy flight from the US to Europe on Lufthansa. You can read more about how I previously did that here.

Chase Ultimate Rewards airline transfer partners:

• Aer Lingus
• British Airways Executive Club
• Flying Blue Air France and KLM
• Iberia Plus
• Korean Air SKYPASS
• Singapore Airlines KrisFlyer
• United Airlines MileagePlus
• Virgin Atlantic Flying Club

 

Hotel transfer partners:

• World of Hyatt
• IHG Rewards Club
• Marriott Rewards
• The Ritz-Carlton Rewards

We transferred 50,000 Chase Ultimate Rewards points for two Virgin Atlantic Upper Class tickets on their 787 Dreamliner to fly from London to Johannesburg. It was super special because my husband is South African and also designed the bar for Virgin Atlantic. Two friends even joined us on the journey. It’s special moments like these that are made possible because of points.

If you’re new to all of this and the thought of transferring points to different loyalty programs makes your head spin, there are easier options for redeeming. When you book through the Ultimate Rewards Travel website you can use points to book any available flight or hotel. No restrictions or blackout dates. Using this method is a redemption rate of 1.5 cent per point. This isn’t the absolute best value, but it’s still a good option in certain situations. For instance, if there is no award availability you can still make the booking using your points this way.

Accelerated Points Earning

You will earn 3 Chase Ultimate Reward points per dollar spent on all travel and dining purchases. This includes everything from fast food to fine dining, public transportation to first class airfare, and Airbnbs to five star hotels. No matter if you’re a budget-conscious backpacker or a bougie high roller, you can take advantage of these bonus categories. Every other purchase will earn 1 point per dollar.  

Global Entry / TSA Pre-Check Fee Credit ($100 or $85 value)

If you’re not already a member of either Global Entry or TSA Pre-Check, then you can use your Chase Sapphire Reserve to pay the application fee and get reimbursed. These programs are valid for five years after approval and Chase allows you to re-use this credit every four years so you can re-apply.

Global Entry is an expedited way to clear immigration when returning to the United States. It requires a background check, interview, and fingerprinting. In saves valuable time when returning home from an international trip and possibly catching a connecting domestic flight. Global Entry membership also entitles you to TSA Pre-Check. So you might as well apply for it since it provides the most value.

If you already have one of these memberships, don’t rule it out as a benefit just yet. You can easily gift these to someone else (spouse, parent, child, friend, etc.). As long as the application fee is charged to your Chase Sapphire Reserve card then you will receive the credit.

Worldwide Lounge Access

Additionally, Chase Sapphire Reserve cardholders automatically receive a Priority Pass Select membership. Priority Pass gives you access to a global network of 1,000+ airport lounges. You can bring two guests into these lounges with you complimentary. Then it is $27 per additional guest. Priority Pass even partners with restaurants in certain US domestic airports to allow their members $30 food and beverage credit. Be sure to download their free app to discover where all their lounges are located.

Lounges are so convenient that I honestly cannot remember the last time I purchased food or alcohol in an airport within the last six years. Not to mention there’s nothing quite like taking a refreshing shower in a lounge before or after a 10 hour flight.

No Foreign Transactions Fees

Sure, most travel related credit cards offer this. However I find the most value in the fact that Chase Sapphire Reserve is a Visa which is probably the most widely accepted card on the planet. So you won’t run into issues where you have a fancy American Express that is usually only accepted in major international cities. The mom and pop restaurant in Thailand is going to accept your Chase Sapphire Reserve, if they accept credit cards for payment.

This benefit applies to both transactions made outside of the United States as well as purchases made with foreign companies or in foreign currencies online.

 

Travel Insurance Coverage

Whenever you use the Chase Sapphire Reserve to book your trip, you are entitled to the following:

• Trip cancellation/interruption insurance (up to $20,000 per occurrence)
• Lost luggage reimbursement (up to $3,000 per passenger)
• Delayed baggage insurance ($100 per passenger per day)
• Trip delay reimbursement (up to $500 per trip), and travel accident insurance
• Travel accident insurance
• Primary rental car insurance (plus other rental car perks and discounts)
• Emergency medical, dental, evacuation, and transportation coverage

This includes delayed baggage coverage which we happened to need when our luggage was lost immediately prior to our Mediterranean cruise.  

 

Additional Benefits while at Home

• Roadside assistance
• Purchase protection
• Price protection
• Return protection
• Extended warranty program
• Access to VIP events

If all of these benefits sound appealing to you, then you can apply for the Chase Sapphire Reserve here. Like I always tell everyone when I make a credit card suggestion, do NOT open a credit card if you plan to carry a balance. The value of the points and miles goes completely out the window the moment you start paying interest fess. Pay your balance in full every month! I also recommend you check out our Frequently Asked Questions page to learn more about leveraging your credit responsibly, credit scores, and more.

 

Ability to Combine Points

Lastly, if you are already a Chase customer you can combine Chase Ultimate Rewards points. For instance, the Chase Freedom is traditionally a cashback credit card. If you open the Chase Sapphire Reserve, then you can opt to earn points instead of cashback on your Freedom so you can combine the points. If you already have a Chase Ink business card you can do the exact same thing. It took me YEARS to convince my dad to stop redeeming his Chase Ultimate Rewards by simply applying them to his statement balance for cash. IT’S THE WORST REDEMPTION RATE EVER. Now that he stopped doing that it’s time for him to open a Chase Sapphire Reserve and actually make a travel redemption for the first time. Baby steps.

 

 

 

 

Full disclosure: If you use the link provided in this post to apply for the Chase Sapphire Reserve (and Chase approves the application), then I will receive 10,000 bonus points, too.