4 / 5 \u00b7 Bonus Eagle score
Chase
Chase Sapphire Reserve®
Welcome bonus
100,000Points
after $6,000 in 3 mo
Annual fee
$795
Purchase APR
19.49% – 27.99%
Credit needed
Excellent (720–850)
on Chase's secure site
The bottom line
The 2025 overhaul pushed the Reserve to a $795 fee and rebuilt it around a large stack of statement credits. On paper it advertises well over $2,000 in "value," but that number is only real if you actually use the $300 travel credit, up to $500 in Edit hotel credits, and the various dining and entertainment credits — several of which are chopped into half-year or per-booking windows.
At a glance
Pros and cons.
Pros
- Very high earn rates on Chase Travel and direct travel
- $300 flexible annual travel credit plus up to $500 in Edit hotel credits
- Broad lounge access (Priority Pass, Sapphire Lounges, partner lounges)
- Points transfer 1:1 to Chase partners and are worth more via Points Boost
- Strong travel insurance and primary rental car coverage
Cons
- $795 fee (plus $195 per authorized user) is steep and not waived
- Value depends on actively using credits that are split into narrow windows
- Standard Chase Travel redemptions dropped to 1 cent/point (Points Boost needed for more)
- Hyatt transfers fell to 4:3 in 2026
The editorial review
Our take on this card.
The 2025 overhaul pushed the Reserve to a $795 fee and rebuilt it around a large stack of statement credits. On paper it advertises well over $2,000 in "value," but that number is only real if you actually use the $300 travel credit, up to $500 in Edit hotel credits, and the various dining and entertainment credits — several of which are chopped into half-year or per-booking windows. For someone who travels often and books through Chase Travel or directly with airlines and hotels, the earn rates (8x/4x/3x) and lounge access are genuinely strong, and the points remain among the most flexible in the market. Used fully, the card can beat its fee comfortably. The honest read: this is now a "coupon-book" premium card, and the break-even math is unforgiving for casual travelers. If you won't methodically use the credits and lounges, the Sapphire Preferred delivers most of the points value for $700 less. Decide based on the credits you'll realistically use, not the headline value.
How you earn
Rewards by category.
Chase Travel
8x
Lyft
5x
Flights & hotels booked direct
4x
Dining worldwide
3x
Everything else
1x
Rates and fees
The full disclosure.
All rates and fees current as of publication. Verify against the issuer's official Terms and Conditions before applying.
Annual fee
$795
Purchase APR
19.49% – 27.99%
Balance transfer APR
19.49% – 27.99%
Cash advance APR
29.99%
Penalty APR
29.99%
Foreign transaction fee
None
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Late payment fee
Up to $40
Cash advance fee
Either $10 or 5% of each transaction, whichever is greater
Frequently asked
Questions readers ask.
Can I offset the $795 fee?
Potentially — the $300 travel credit plus up to $500 in Edit hotel credits can cover it, but only if you use them within their windows.
How is it different from the Sapphire Preferred?
Higher fee, higher earn rates, lounge access, and more credits; the Preferred is far cheaper and simpler.
Do authorized users cost extra?
Yes, $195 each, though they get most benefits.
Is there a foreign transaction fee?
No.
Are points worth more through Chase?
Standard redemptions are 1 cent each; select premium bookings via Points Boost can reach ~2 cents.
