Chase Sapphire Reserve credit card comes with Chase Ultimate Rewards. And the Chase Ultimate Rewards is their premier rewards program that enables you to redeem rewards for experiences.
Also, travel, cashback, and many others.
Chase Sapphire Rewards
This card is a premium travel card having so many elite travel perks as well as a versatile rewards program. The Chase Sapphire Reserve card also gives bonus rewards for dining and travel.
Plus redemption options that enable you to maximize the value of your rewards.
In all, this card is not for everyone. That is one thing you should know. The only people who will enjoy this card are those that travel frequently.
So if you are one of the infrequent travelers, then I am sorry to say that this card is not for you. Simply put the Chase Sapphire Reserve card is a card for travelers.
Advantages of the Chase Sapphire Reserve Credit Card
The advantages of the Chase credit card include:
- They offer bonus points for dining, travel, and Lyft purchases.
- You can earn 60,000 points, which is worth $900 in travel rewards, and after spending $4,000 on purchases in the first 3 months from opening an account opening.
- Awards a 50% points bonus when cardholders redeem points for travel through Chase Ultimate Rewards.
- Chase Sapphire rewards credit card provides different kinds of premium travel perks.
- It allows travel partner point transfers.
- It enables you to merge points from no-annual fee Chase cards to gain extra rewards.
Well, while you enjoy some of the advantages of the card, what you might not so like about the Chase credit card is the fact that:
- The card lacks an introductory APR on purchases or balance transfers.
- It carries an above-average APR and
- It charges a $550 annual fee.
Who is the Chase Sapphire Reserve card great for?
The Chase Credit Card is great for:
- Those who want a huge sign-up bonus.
- Large spenders, as well as
- Those who travel frequently.
Who is the Card Not Great For?
The card isn’t great for or won’t favor the following people:
- Minimal spenders.
- Balance carriers.
- Infrequent travelers.
Rates and fees of the Chase Sapphire Reserve
Issuer Name: Chase
Penalty APR: Up to 29.99%
Credit Needed: Excellent
Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
Annual Fee: $550
Cash Advance Fee: Either $10 or 5% of the amount of each transaction, whichever is greater.
APR: 16.99% – 23.99% Variable
Foreign Transaction Fee: $0
Benefits of the Chase Sapphire Reserve
Below are some of the great benefits of the Chase Sapphire Reserve Credit Cards:
- Bonus Rewards on travel and dining
- 50% more value when you redeem for travel.
- Big sign-up bonus.
- Point transfers to Hotels and Airlines as well.
- Lyft pink membership and extra points on Lyft rides.
- $300 a year in travel credit.
- Doordash discounts
- TSA Precheck/global entry credit.
- Priority pass select lounge access
- No foreign transaction fees.
- Cardholder hotline
- Luxury Hotel benefits.
- Return protection
- Purchase protection.
- Lost luggage reimbursement.
Chase Sapphire Reserve Annual Fee
The card’s annual fee is $550 and this isn’t waived the very first year which is the greatest drawback of the Chase Sapphire Reserves.
However, If you want to get premium travel rewards and a modest annual fee, then you should consider going for the Chase Sapphire Preferred Card.
If you travel often enough to receive more value from the card than what it actually costs, then the fee could be money well spent.
The Chase Sapphire Reserve card does not charge any foreign transaction fee, and this is 3% of all purchases you make abroad. However, it has an annual fee for permitted users at $75 per card and a late fee close to $39.