Chase Sapphire Reserve Card Review (2021)

Filed Under: Chase, Credit Cards
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3x points
on dining
3x points
on travel
primary CDW
rental car coverage
Annual Fee: $550

I don’t think there’s a single card that has changed the premium credit card landscape like the Chase Sapphire Reserve® Card did back when it was introduced in the summer of 2016.

Before the Sapphire Reserve was introduced, premium cards were thought of as only being for the wealthy, while Chase created a product that truly had mass appeal, by offering a lot of value to members.

Suffice to say that a lot has changed in the past few years, and in particular in recent months, given the pandemic. Fortunately Chase has responded to the current situation with some great new temporary perks. Let’s take an in-depth, updated look at the Chase Sapphire Reserve, accounting for how the credit card landscape has changed.

Is the Chase Sapphire Reserve still worth it?

In this post:

Chase Sapphire Reserve Basics For March 2021

The Chase Sapphire Reserve is a card that has it all — a great sign-up bonus, excellent perks, a rewarding points structure, and much more.

The Chase Sapphire Reserve was built on the fundamentals of the Chase Sapphire Preferred® Card (review), so is the higher annual fee of the Sapphire Reserve warranted?

Sapphire Reserve Welcome Bonus: 50K Points ($750 Worth Of Travel)

The Sapphire Reserve has a welcome bonus of 50,000 Ultimate Rewards points after spending $4,000 within three months.

At an absolute minimum, if you have the Sapphire Reserve then Ultimate Rewards points can be redeemed for 1.5 cents each towards a travel purchase, meaning that 50,000 Ultimate Rewards points will get you $750 worth of travel. As I’ll explain below, there are ways to get way more value out of the points than that.


Redeem your Ultimate Rewards points for a flight in Delta business class

Card Bonus Eligibility

If you’re applying for the Chase Sapphire Reserve, you can only be approved if you don’t currently have any Sapphire card, and haven’t received a new cardmember bonus on a Sapphire card in the past 48 months (this includes the Sapphire Preferred).

Here are general rules on applying for Chase cards.

How High Of A Credit Score Do You Need To Be Approved?

Credit card issuers don’t publish a minimum credit score required to be approved for a card, though you do in general need excellent credit to get approved for this card. I wouldn’t apply for the Sapphire Reserve if my credit score were under 720, and ideally, it would be over 740.

It’s possible to get approved with a lower score, and it’s also possible to be denied with a higher score. There are many factors that go into card approval, including your income, existing relationship with Chase, and more.

Chase’s 5/24 Rule

Chase has something that’s known as the 5/24 rule. This means that if you’ve opened five or more new card accounts in the past 24 months you typically won’t be approved for this card. If you do apply for the Sapphire Reserve, make sure you’re under that limit.

Here’s how to check your 5/24 status.

Product Changing

Chase will often let you product change from one card to another (either personal-to-personal or business-to-business), assuming you’ve had it for at least 12 months. For example, one strategy could be to apply for the Sapphire Preferred, use it for 12 months, and then later you can upgrade to the Sapphire Reserve, if you’d like.

You’ll have to call Chase to find out the options available on your account.

Chase is pretty good about letting you product change between cards

Sapphire Reserve $550 Annual Fee

The Sapphire Reserve has a $550 annual fee. Among the super-premium credit cards out there, this is in line with what we have come to expect. As I’ll explain below, in reality this card shouldn’t be costing anyone even nearly that much every year, though.

While the Chase Sapphire Reserve annual fee was increased a while back, note that Chase made exceptions this past year for existing cardmembers. It’s possible that we’ll see similar exceptions for 2021 renewals as well.

$75 Authorized User Fee

You can add authorized users to the Sapphire Reserve, and there’s a $75 fee per person. This can be well worth it, because not only do authorized users get your increased points earning rates, but they also get a Priority Pass membership, Visa Infinite benefits, and more.

Earning Chase Sapphire Reserve Points

The Chase Sapphire Reserve permanently offers bonus points in two categories that some people may find useful. On top of that, Chase has introduced some other great limited time bonus categories on the card, to reflect the current environment. This is a way for cardmembers to get even more value.

When picking a credit card, I always recommend getting one that has bonus categories that match up with your spending profile.

Some cards offer bonus points on travel, dining, gas stations, supermarkets, etc., so pick the one that works best for you.

Sapphire Reserve 3x Points On Travel & Dining

The Sapphire Reserve offers 3x points on dining and travel purchases globally. Meanwhile, the card ordinarily offers 1x points on all other purchases.

I value Ultimate Rewards points at ~1.7 cents each, so to me, that’s the equivalent of a 5.1% return on those purchases, which is pretty incredible.

What Counts As Dining & Travel?

Chase’s dining category includes the following:

merchants whose primary business is sit-down or eat-in dining, including fast food restaurants as well as fine dining establishments.

Chase’s travel category includes the following:

airlines, airports, car rental agencies (including truck, trailer, and RV), cruise ships, hotels and motels, timeshares, local and commuter transportation (including trains, buses, taxis/limos, ferries, bridges, tolls and parking), travel agencies

Earn 3x points on dining and travel globally

Sapphire Reserve 10x Points With Lyft

Through March 2022, the Sapphire Reserve offers 10x points on Lyft purchases. I’ve found this to be incredibly useful, and it’s possible that this benefit could be extended beyond that.

I value Ultimate Rewards points at 1.7 cents each, so to me, that’s the equivalent of a 17% return on Lyft spending, which is awesome. It gets even better than that with the other Lyft benefits offered by the card, which I’ll talk more about below.

Earn 10x points on Lyft rides

Sapphire Reserve 3x Points On Groceries

Between November 1, 2020, and April 30, 2021, the Sapphire Reserve is offering 3x points on grocery store spending. This is valid on up to $1,000 worth of spending in the category per month. That makes the Sapphire Reserve one of the better cards for grocery store spending.

No Foreign Transaction Fees

The Sapphire Reserve has no foreign transaction fees, so this is an excellent card to use for purchases globally, since you can earn valuable rewards while not being stuck with those fees, which are sometimes 3%.

Best of all, I find that a large percentage of my purchases abroad are in the travel and dining categories, so I can avoid foreign transaction fees while earning 3x points.


You can earn bonus points even on train tickets with the Sapphire Reserve

Redeeming Chase Sapphire Reserve Points

The Chase Sapphire Reserve earns Ultimate Rewards points, which I find to be one of the most valuable flexible points currencies. Not only that, but having the Sapphire Reserve means that you can redeem your points for more than you could if you had other cards.

As I’ll explain below, there are a couple of ways that you can most efficiently redeem your Ultimate Rewards points.

Redeem Points For 1.5 Cents Each Towards Travel

Ultimate Rewards points can be redeemed towards the cost of travel purchases through the Chase Travel Portal. This means you can redeem points for all kinds of travel purchases, ranging from flights to hotels to car rentals.

The value you get per point varies based on which card you have:

  • If you have the Sapphire Reserve, then all your Ultimate Rewards points can be redeemed for 1.5 cents each
  • Compare this to having the Sapphire Preferred or Ink Preferred, where points can “only” be redeemed for 1.25 cents each

In other words, you could use your Ultimate Rewards points to book a $750 flight for 50,000 points. This allows you to redeem with no blackout dates, and avoid the complexity of frequent flyer programs.

Furthermore, when you redeem your points towards flights through the portal you can even accrue points for those flights.

Redeem Ultimate Rewards points towards the cost of airfare

Redeem Points For 1.5 Cents Each Towards Groceries & Dining

Usually, the efficient way to redeem Ultimate Rewards points is for travel experiences. With many people not traveling, Chase has come up with a great new way to redeem Sapphire Reserve points, known as “Pay Yourself Back.”

Through April 30, 2021, Ultimate Rewards points can be redeemed for 1.5 cents each towards a statement credit to offset purchases in the following categories:

  • Dining establishments
  • Grocery stores
  • Home improvement stores

This means that you can redeem points at the same rate towards your everyday purchases as you can towards travel, which is an awesome opportunity.

Transfer Points To Airline & Hotel Partners

My favorite way to redeem Ultimate Rewards points is to transfer them to one of the Chase Ultimate Rewards airline or hotel partners. Points transfer at a 1:1 ratio, and this is a great option if you want to book aspirational travel, like staying at a five star hotel or redeeming for first or business class travel.

Here are the Ultimate Rewards transfer partners:

AirlinesHotels
Aer Lingus Aer ClubIHG Rewards Club
Air France/KLM Flying BlueMarriott Bonvoy
British Airways Executive ClubWorld of Hyatt
Emirates Skywards
Iberia Plus
JetBlue TrueBlue
Singapore KrisFlyer
Southwest Airlines Rapid Rewards
United MileagePlus
Virgin Atlantic Flying Club

How Should You Redeem Ultimate Rewards Points?

Being able to redeem points for 1.5 cents each towards a travel purchase (and temporarily for other everyday expenses) is a great option, especially when you consider that you won’t be dealing with any capacity controls or blackout dates.

Other transferable points currencies typically let you redeem points for roughly one cent each towards a travel purchase, so that’s quite a difference.

However, my favorite use of Ultimate Rewards points is still transferring them to partner airlines and hotels. My personal favorites are Air France-KLM Flying Blue, British Airways Executive Club, Singapore KrisFlyer, and World of Hyatt.

Why? Because if you’re redeeming for aspirational travel, this is a way to get a lot more value. For example, the Park Hyatt Maldives often costs $1,000+ per night when paying cash. Meanwhile, if you transfer points to World of Hyatt, you can book it for just 30,000 points per night.


Redeem your Ultimate Rewards points for a stay at the Park Hyatt Maldives

The same is true for flights. International first class tickets can cost $20,000+. Meanwhile, you could transfer 120,000 points to Virgin Atlantic Flying Club for a roundtrip ticket in ANA first class from the US to Japan.


Redeem your Ultimate Rewards points for travel in ANA first class

You can find more about all the ways to redeem Ultimate Rewards points and why I value them so highly in my Ultimate Guide to Ultimate Rewards.

Chase Sapphire Reserve Benefits

What really sets the Chase Sapphire Reserve apart is the incredible benefits that it offers. These benefits help offset the annual fee, and for many will more than justify it, not even taking into account the sign-up bonus, 3x points on spending, and more.

The card offers all kinds of perks — both temporary and permanent — that will make it worthwhile.

$300 Annual Travel Credit

The Sapphire Reserve offers an incredible $300 annual travel credit. While quite a few credit cards offer credits, there are typically lots of strings attached. That’s not the case with the Sapphire Reserve.

There’s no registration required, and any purchases that are coded as travel will be reimbursed automatically. This could include flights, Uber rides, taxis, train tickets, hotels, and more. You don’t have to use the entire credit in one transaction but rather can use it across as many transactions as are needed.

Not only that, but through June 30, 2021, the travel credit can also automatically be used towards gas station and grocery store purchases, giving it even more flexibility.

Account Anniversary Year Definition

The $300 annual travel credit doesn’t reset with the calendar year, but rather resets each account anniversary year. This would be based on 12 billing cycles following when you receive the card.

How To Track Your $300 Credit

When you log into the Ultimate Rewards website, go to the section for “Rewards Activity.” If you scroll down a bit and go to the section about card benefits, you should see that it shows how much of your credit you’ve used.

Is This Really A $250 Annual Fee Card?

While the Sapphire Reserve has a $550 annual fee, in reality, this card shouldn’t be costing anyone more than $250 per year, by the time you factor in the $300 annual travel credit.

Anyone who gets this card should spend at least $300 per year on travel (and in this year you don’t even have to spend it on travel, given how this category has been expanded). If you don’t, this probably isn’t the card for you, given that it offers travel rewards.

That’s what has made this card so accessible for many — while you’re paying a much higher fee upfront, the card should only cost you at most $250 per year.

Priority Pass Membership

The Chase Sapphire Reserve comes with a Priority Pass membership, which gets you access to the world’s largest collection of independent lounges. Best of all, this membership allows you to take guests with you at no additional cost.

Priority Pass has 1,300+ airport lounges around the world, so access to these lounges will prove useful to just about any traveler.


SkyTeam Lounge Dubai, which is a Priority Pass lounge

Priority Pass has even added some non-traditional locations to the network, like restaurants, where you can have a meal and Priority Pass picks up the tab.

If you add authorized users to your Sapphire Reserve, they’ll also get a Priority Pass membership, so that could be worth it for the $75 additional user fee alone.

One Year Lyft Pink Membership

The Chase Sapphire Reserve is offering a one year Lyft Pink membership as a benefit. This ordinarily costs $19.99 per month, so it’s potentially nearly a $240 value.

Lyft Pink offers the following exclusive perks:

  • 15% off unlimited car rides — this includes all types of rides in the US, including Shared, Standard Lyft, Lyft XL, Lux Black XL, Lux, and Lux Black
  • Priority airport pickups — be matched to the closest driver at the airport
  • Relaxed cancellations — don’t pay fees for up to three cancelations made within 15 minutes each month
  • Waived lost and found fees — get the lost and found fee waived an unlimited number of times
  • Bikes and scooters — three 30 minute bike or scooter rides per month in select markets
  • Surprise offers — these can include seasonal discounts, premium mode discounts, and partnership offers

This has the potential to be really valuable. In particular, it stacks nicely with the ability to earn 10x Ultimate Rewards points on Lyft rides. For many of us, this will translate into significant savings and will cause us to switch business from Uber to Lyft.

See this post for everything you need to know about the Sapphire Reserve Lyft Pink perk.

Get a one year Lyft Pink membership with the Sapphire Reserve

DoorDash $60 Annual Statement Credit

For 2021, the Chase Sapphire Reserve is offering a $60 annual DoorDash credit. This was initially introduced in 2020, so between the two years you can save up to $120 with DoorDash. For those not familiar with DoorDash, it’s a food delivery service available in over 850 cities in North America.

This is a straightforward benefit — there’s no registration required, but rather you’ll receive statement credits for your first $60 of spending in 2021 with the Sapphire Reserve.

See this post for everything you need to know about the Sapphire Reserve DoorDash perk.

Save on DoorDash with the Sapphire Reserve

DoorDash DashPass Benefit

The Chase Sapphire Reserve offers a DoorDash DashPass membership. Once you sign-up, it will be valid for at least a year.

With DoorDash DashPass, you pay a $0 delivery fee when ordering from thousands of restaurants nationwide. Just place an order totaling at least $12 from an eligible restaurant, and you’ll get a $0 delivery fee and reduced service fee.

Here’s how you can sign-up for the DashPass benefit.

$120 Peloton Credit

The Chase Sapphire Reserve is offering up to a $120 Peloton credit between now and December 31, 2021. This is valid towards Digital and All-Access Peloton memberships, and you can activate the benefit at this link.

Global Entry or TSA Pre-Check Credit

The Chase Sapphire Reserve offers a Global Entry or TSA Pre-Check credit once every four years. Just charge the $85-100 membership fee to your card, and it will automatically be reimbursed. It doesn’t matter who the fee is being paid for, as long as you charge it to your eligible card.

Why You Should Register For Global Entry Over TSA Pre-Check

If you are going to take advantage of this perk, I’d highly recommend registering for Global Entry over TSA Pre-Check. For those of you not familiar, TSA Pre-Check gets you expedited US security screening, while Global Entry gets you expedited US immigration clearance.

Why should you register for Global Entry and not Pre-Check? Because Global Entry also comes with TSA Pre-Check, while the inverse isn’t true (signing up for TSA Pre-Check doesn’t get you Global Entry).

TSA PreCheckTSA Pre-Check can be a huge time saver

The Luxury Hotel & Resort Collection

Those with the Chase Sapphire Reserve get access to The Luxury Hotel & Resort Collection, offering additional benefits at 1,000+ luxury hotels around the world. When booking through the program at an eligible rate you receive breakfast for two, complimentary Wi-Fi, a room upgrade if available, early check-in and late check-out if available, and a special property amenity.

Receive extra benefits at the Park Hyatt Saigon

20% Discount On Silvercar Rentals

Silvercar is my favorite car rental company, and you can save on rentals with Silvercar by having the Chase Sapphire Reserve. You get 20% off rentals just by using promotion code VISAINF20.


Save 20% on Silvercar rentals with the Sapphire Reserve

Primary Car Rental Coverage

The Chase Sapphire Reserve offers primary collision damage waiver coverage against damage up to the cost of most rental car vehicles provided you decline the CDW coverage offered by the rental agency. This includes economy through luxury class vehicles, vans that carry fewer than seven passengers, and SUVs. You’ll want to check your cardmember agreement for full details.

Travel & Purchase Coverage

The Sapphire Reserve is a Visa Infinite Card, so comes with all kinds of great travel and purchase protection.

What’s especially awesome is that you earn triple points for travel with the card, so you can put your travel purchases on this card, and then automatically be covered with the benefits.

Note that award tickets qualify for this benefit as well, assuming you put the taxes on the Reserve Card.

Here are the basic details of the coverage, though you’ll want to consult the cardmember agreement for all the details:

Sapphire Reserve Visa Infinite BenefitsDetails
Baggage Delay Benefit• You can be reimbursed up to $500 when some or all of the cost of a common carrier ticket is charged to your card (therefore award tickets should be eligible if the taxes are charged to the card)

• You can be reimbursed a maximum of $100 per day for emergency purchases of essential items at a destination other than your current residence
Lost Luggage Reimbursement• Receive reimbursement for lost or damaged checked or carry-on bags and personal property

• Maximum reimbursement is $3,000

• You must report the loss or damage to the Common Carrier immediately as soon as you exit the Carrier. You will need to provide proof that you submitted a report to the Common Carrier, so be sure to keep a copy of the report for your records.
Trip Cancellation/Interruption Insurance• Receive the non-refundable amount of the passenger fare or $10,000 (whichever is less) in the event of a trip cancellation or interruption

• The cancellation or interruption must be caused by death, accidental injury, disease, or physical illness of the passenger or immediate family member

• This also covers you if your airline goes out of business or tickets are otherwise cancelled by the carrier
Trip Delay Reimbursement• Receive up to $500 if your trip is delayed for more than 6 hours or requires an overnight stay

• The trip has to be delayed by an equipment failure, inclement weather, labor strikes, or hijacking
Purchase Protection• Receive up to $10,000 for personal property that has been stolen, damaged, or lost within 120 days
Return Protection• Receive up to $500 per item ($1,000 per year) if you are dissatisfied with a purchase and the retailer won’t return the item within 90 days

• There are lots of exclusions, including items purchased overseas, and all items have to be returned to Chase as part of the process
Warranty Manager Service• Extends the free repair period under the original manufacturers repair warranty up to one additional year on eligible warranties of three (3) years or less, up to a maximum of ten thousand ($10,000.00) dollars per claim, and a fifty thousand ($50,000.00) dollars maximum per Account.

• Motorized vehicles (boats, cars, aircraft, etc.) aren’t included

Shop Through Chase

Having the Chase Sapphire Reserve gives you access to Shop Through Chase, which is the card’s online shopping portal that can really accelerate the points you earn. By “clicking-through” the portal you can earn extra points per dollar with purchases at dozens of online retailers.

I earn several thousand extra points each year on purchases I would have made anyway just by clicking through the Shop Through Chase portal first.

Great 24/7 Customer Service

While I try to do as much as possible online, I find that in situations where I have to call Chase, the customer service is excellent. Chase doesn’t have some of the annoying phone prompts that other issues have, and I’m almost always connected to an agent right away.

Metal Card

I’m not sure this is necessarily a selling point anymore nowadays, but the Sapphire Reserve was one of the first “major” metal cards. Nowadays that’s not exactly unusual anymore.

Is The Chase Sapphire Reserve Worth It?

The Chase Sapphire Reserve has become an extremely popular card, and in many ways it sells itself. If you travel with any frequency and spend a fair amount on dining and travel, then I think yes, the Sapphire Reserve is absolutely worth it.

Obviously, times have changed, given the current pandemic. The good news is that Chase has added some great new temporary benefits that will make this card more of a keeper than ever before. Being able to redeem points for 1.5 cents each towards everyday expenses, and getting a DoorDash credit and Peloton credit are all things that should add value for cardmembers.

Personally, I think the card is worth it right now — you can use the rewards for your everyday expenses, or you can accrue points towards a future travel redemption.

The big question will be seeing how the benefits of this card evolve, given that many of the benefits are limited time. I trust that Chase will get creative, since issuers don’t want to lose cardmembers.

I also wanted to talk about some other considerations — how does the Sapphire Reserve compare to the Sapphire Preferred and Amex Platinum, what’s the best credit card complement, and more.

Tip: Get The Freedom Unlimited As Well

If you have the Sapphire Reserve then you should definitely get the no annual fee Chase Freedom Unlimited® (review) as well. Why? Because the Chase Freedom Unlimited offers points that can be pooled with the Sapphire Reserve, and it offers 1.5x points on all purchases.

The best strategy is to have both cards and put your dining and travel spending on the Sapphire Reserve (where you earn 3x points), and all your other spending on the Freedom Unlimited (which offers 1.5x points, rather than 1x points).

To me, that’s the single best credit card duo out there. Even if you just redeem points for 1.5 cents each towards a travel purchase, that means you’re earning a 4.5% return on dining and travel, and a 2.25% return on everyday spending.

The Sapphire Reserve & Freedom Unlimited are an unbeatable combo

Showdown: Sapphire Preferred Vs. Sapphire Reserve

The Sapphire Reserve is the evolution of the Sapphire Preferred, so which of the two cards is better? Here’s a comparison of a few factors:

  • Sign-up bonus: Sapphire Preferred offers 60K points, Sapphire Reserve offers 50K points with the same spending requirement
  • Annual fee: Sapphire Preferred has a $95 annual fee, Sapphire Reserve has a $550 annual fee
  • Points earning: Sapphire Preferred offers 2x points on dining and travel, Sapphire Reserve offers 3x points on dining and travel
  • Other perks: The cards have some overlap in terms of benefits, though the Sapphire Reserve has the edge by offering a $300 annual travel credit, a Priority Pass membership, a TSA Pre-Check or Global Entry fee credit every four years, the ability to redeem points for 1.5 cents each, Visa Infinite perks, Lyft perks, and DoorDash perks

If you spend a good amount on dining and travel (or any of the other temporary bonus categories), would find lounge access useful, and would get value out of the Lyft and/or DoorDash benefits, then I think the Sapphire Reserve is worth it. If you don’t, the Sapphire Preferred should do the trick.

Both the Sapphire Preferred & Sapphire Reserve are awesome

How Does The Amex Platinum Compare?

Probably the most direct competitor to the Sapphire Reserve is The Platinum Card® from American Express (review), which also has a $550 annual fee (Rates & Fees).

The Amex Platinum is a card I have as well, and I value it immensely. But I also don’t think it’s as well rounded. The card is better for lounge access — it offers Amex Centurion Lounge access, Delta SkyClub access, and a Priority Pass membership (with more restrictions). It also offers a $200 annual airline fee credit, $200 annual Uber credit, and $100 annual Saks credit, though all those credits come with noteworthy restrictions.

Amex has done a great job with adding temporary perks, though, as the Amex Platinum is offering a $30 monthly PayPal credit for the first half of 2021, for example.

Personally, I think the Sapphire Reserve is more well rounded, and if you’re just going to get one of those two cards, that’s the one I’d choose. However, I also think both cards could be worth having.

The Amex Platinum offers Centurion Lounge access

Why The Amex Green Is The Biggest Competitor

On the surface, the Amex Platinum may seem like the biggest competitor to the Sapphire Reserve, though I’d argue that the American Express® Green Card (review) is a significantly bigger competitor. The card offers 3x points on dining, travel, and transit, and offers a $100 annual CLEAR credit and $100 annual LoungeBuddy credit.

If you want to earn Amex points, this is the card to get.

Chase Sapphire Reserve Summary

The Chase Sapphire Reserve has revolutionized the premium credit card market over the past several years, and has caused other card issuers to up their game as well.

Suffice to say that the credit card landscape has changed significantly in recent months, in light of the current pandemic. The good news is that I think Chase has done a solid job keeping up with the times, between the bonus points for spending, new credits, and the flexibility of redemption options.

I still think it can make a lot of sense to get the Sapphire Reserve if you’re looking for a card that will offer long-term travel rewards.

In reality, the card should cost you $250 per year ($550 annual fee minus a $300 credit), and for that, you’re earning 3x points on dining and travel, 10x points on Lyft, and other limited-time bonus categories, a Priority Pass membership, a Lyft Pink membership for one year, a DoorDash membership, car rental, travel, and purchase protection, and more.

If you really want to maximize your strategy, pick up the no annual fee Chase Freedom Unlimited as well, so you can earn 1.5x points on your everyday spending.

Lastly, you can also start off with the Chase Sapphire Preferred for the lower annual fee, and then after a year, you may be able to upgrade to the Sapphire Reserve.

If you want to learn more about the Chase Sapphire Reserve Card or apply, follow this link.

Apply Now

The following links will direct you to the rates and fees for mentioned American Express Cards. These include: The Platinum Card® from American Express (Rates & Fees).

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Comments
  1. Thanks for this very helpful article! Could publish also details about how the Preferred card’s travel benefits compare to the travel benefits of Sapphire? Not having the Preferred, I don’t have the Cardmember Agreement and cannot do the comparison.

  2. If it were not for the PP restaurant benefit I am not sure I would keep in lieu of my Amex PLT. The addition of Lyft and Door Dash is a lame excuse for enhancements to the card. Domestically the Amex lounges are great reason to keep that card.

    My Sapphire is up for renewal in September along time from now, in the meantime have renewed the Amex Card.

    First hotels now CC’s demising returns

  3. I know OMAAT does get a referral kick back so by no means did I expect to read in the review “now that they’ve increased the annual fee $100, I can no longer in good conscious recommend this card” but the economics of the card have definitely altered in the past couple years. The Priority Pass membership is becoming less and less useful as more lounges withdraw in the U.S. and as the dining hasn’t kept expanding at a commensurate rate. It was easier for me to rationalize and say it was “really” just a $150 fee after the travel credit, but $250? These new benefits aren’t worth enough to me to hang on to the card when renewal comes up later in the year.

  4. Wirecutter did the math on the breakeven on recouping the annual fee:

    “What does the $100 annual fee increase actually mean? We ran the numbers, and it means you’ll need to spend $5,555 a year on dining and travel purchases—and redeem your points for 1.5¢ apiece in the Chase Ultimate Rewards portal—just to break even on the Reserve’s annual fee. (This assumes you also use all of your $300 annual travel credit.) Before the increase, the spending threshold was a much more reasonable $3,333.”

  5. I’ll keep mine. For my spending habits, the benefits and credits (with CFU and CF) are still worth more than Amex Plat, Gold, Green, or any combination of those.

  6. A lot of people just come to these websites and sign up for cards without understanding if the card fits their needs or if their spend even justifies such a high AF. I had this card for years. I would not recommend this card at the higher AF price point it is of poor value. Keep in mind blogs get referral kickbacks, so their reviews need to be taken with a grain of salt. Even if you want PP lounge access there are other cards that may be better suited for that.

  7. It’s nice to read about the new annual fee and benefits on sites like this — but shouldn’t Chase send something official that we can rely upon? I’m not about to order Doordash based solely on a travel blog. Thanks

  8. Hopefully many customers will dump their CSR to protest Chase’s greedy raise of the annual fee in exchange for ‘benefits’ of dubious value at best for most users. While the CSR has had the edge over other premium cards until now, this is no longer the case. I hope it ends in a net loss for Chase and they learn their lesson.

  9. Will be keeping this card. At least for this year, when you consider the Lyft Pink 15% discount, Lyft 10x points, and DoorDash credits and discount, my break even travel/dining spend is only $2k, over $1k less than before!

  10. I have $200 airline credit on the AMEX Biz Plat and another $250 airline credit on the Aspire. I was not able to fully utilize the $450 airline credit across the two cards this year because of how restrictive AMEX makes it to spend (must be spend on one airline). The AMEX Plat awards 5x on airline tickets but one must book through AMEX, which may not always be convenient, especially for ‘hot’ tickets that one may find elsewhere and one would like to book immediately before they’re gone. Etc, etc,etc…

    By contract, I spend my $300 travel credit on the CSR within a month of the time I become eligible to start spending it each year, and, unlike the competition, the CSR defines “dining” and “travel” so broadly that one earns 3x almost without trying…

    As @GarbageMiles just stated quite accurately, “CSR has real value – AmEx is gimmicks.”

  11. People bitterly complaining about the fee increase should simply find a new card that aligns with their needs given the changed incentives. It’s obvious that Chase is targeting wealthier urban millennials. If you aren’t part of that demographic or you’re hyper intent on optimizing spending, then you are exactly the sort of unprofitable customer Chase hopes to shed.

  12. DCS – You are wrong on Amex Platinum and airfare. You can book directly with airlines and receive 5x points. You do need to book through Amex Travel for 5x on hotel bookings.

    In terms of Amex vs Chase, Amex has significantly upped its game with Amex Gold and Amex Green (pick one or both depending on your spend patterns). And I get more and more value out of Amex Platinum travel benefits every year. It is still pretty essential to be involved with Chase somehow. However, for many, CSP may be just as good.

  13. +1 for this article not continuing the narrative about how much money Chase is losing on this card. Their earning report from 2019 reveals that JP Morgan and Chase are kicking ass and taking names.

    I agree with DCS on his earlier point on that.

  14. You left out the travel insurance on the CSR, both health and emergency medical evacuation. Is that going away? That is a big differentiator from Amex.

  15. Would the CSR really have changed the CC landscape and netted so many subscribers had they not had an initial 100,000 UR point bonus? That’s the only reason I got it vs. the Preferred, and I’ve only kept it this year out of momentum.

  16. I decided I will not be renewing the card. The biggest benefits to me are the $300 credit and priority pass. I also get PP from my AMEX Aspire card, so it really is a $250 fee that I really don’t get a benefit from.

  17. @Anthony – I have no personal experience with paying for “travel” with my AMEX Biz Plat. I simply went by what I believe the T&C for earning 5x state:

    “‡Benefit Terms

    Get 5X on Flights and Prepaid Hotels

    You will get one point for each dollar charged for an eligible purchase on your Business Platinum Card® from American Express. You will get 4 additional points (for a total of 5 points) for each dollar spent on eligible travel purchases made on *amextravel.com*. Eligible travel purchases include the following purchases made on *amextravel.com*: scheduled flights, prepaid hotel purchases (including hotels and flight+hotel packages), minus returns and other credits. ”

    I did not see a clause anywhere that stated that 5x can be earned on tickets purchased directly with airlines. Now that I will be patronizing SQ KrisFlyer instead UA MP, it might be more advantageous to purchase tickets with the AMEX Plat and credit the resulting 5x points to KrisFlyer, instead of my past practice of purchasing tickets with the CSR and earning 3x UR points that I could credit to either MileagePlus or KrisFlyer. It’s an option I have convinced myself squares better with decision to focus on patronizing SQ now that UA has decided to gut their program…

    So, please confirm that you have experience getting 5x on airline tickets purchase directly with the AMEX Plat. Thx.

  18. @Anthony — We were both right. The AMEX Biz Plat awards 5x only for flight booked through amextravel.com. The non-Biz Plat card awards 5x for flights directly booked with airlines or through amextravel.com. Maybe I will swap my Biz Plat for the standard Plat!

  19. I’ve had this card since the beginning and find value. However, beware about using your points via Ultimate Rewards Travel (Expedia) during this Covid timeframe. Many of us have had bad experiences on flights cancelled due to Covid. I lost $185 worth of points on a cancelled flight. Others have lost much more. I will be spending down many of my points with the increased 1.5 value on grocery, restaurant and home improvement purchases through Sept. In the future any cash flights will be booked directly with the airline. I will never use Expedia or other such booking sites again.

  20. You may also want to mention for those that don’t like metal cards, CSR will replace your card with a plastic one if you call in. Amex Plat won’t.

  21. @Nancy – You’re entitled to your points back on the cancelled flight, just like you are with a paid ticket. The customer service is terrible (you have to call Chase Travel in Phoenix, which is staffed from India, – enough said) and it will take several calls depending on the airline you were booked on (mine was on SAS – one of the worst about refunding – so I had to come out swinging). Once you get the airline to refund Chase Travel, it goes to their master credit card and your point refund is automatic. Good luck!

  22. @Ben/Lucky, is the 10x Points On Instacart in the title and table of contents a typo? It doesn’t match the 5x that is in the body of the text.

  23. Apparently, CSR started giving 5X on restaurants on 7/1, without any public notice. (At least for some people: I’m getting it.)

  24. Thanks, Tim, but I’ve wasted probably 15+ hours trying to get my UR points back from Chase Travel. I’ve also tried asking Chase themselves to give me back my points. Finally, I found an Expedia exec email address on a FB group of people who have been having trouble getting refunds from Expedia. The latter did get me a quick response. However, they will only give me a useless voucher on a Mexican airline that is no longer flying into FL where I live. AND it has to be used by March so to me it is useless…..
    You also have to watch your own flight info as Expedia did not even alert me that my flight had been cancelled and I see many people on FB who had the same issue….

  25. I’ve seen mention the CSR is giving 5X on dining in July (to Sept?) but haven’t checked it out myself. Have you?

  26. Lucky, nice post!

    Could you compare the CSP and CSR travel insurance benefits? They looked the same but you seemed to imply that Visa infinite gave better benefits.

  27. I’m using my CSR more these days by default. I’m phasing out of UA to AS so it makes sense to accumulate Chase points. The primary rental car coverage is what I find most attractive after that.
    Annoying side note about the metal card is that the HKG MTR Octopus readers are blocked when the CSR is flush against it in a wallet.

  28. Time to cancel for the duration of the pandemic. Also as I’ve learned over the years the insurance coverage is absurdly hard to come collect on. So much so that that’s reason enough to dump this card.

  29. @ Nancy is correct on the Expedia problems. True that Expedia follows the cancellation/refund policies of the associated airline/hotel.

    In 2 cases, however, I worked out deals directly with the boutique hotel/small airlines during early covid cancels, then called Expedia. In both cases, Expedia lied both to the service providers & myself & then instead did what was easiest/best for them. Cancel with no refund of points or chance of rebooking.

    I wrote Chase a letter explaining the eventual loss of my points & their response was “sorry, we have no control over what Expedia does.” Chase needs to assume ownership & ultimate accountability over their travel portal. I was always a big fan til something bad (covid) happened & underlying issues & inconsistencies were laid bare.

  30. Does anyone still have the Chase Presidential Plus MasterCard? I know you cannot get it anymore, so I hate to give it up. It seems its biggest benefit is access to the United Clubs, but since United changed its elite qualifying rules, it doesn’t seem worth it unless you want the United Club membership. Is anyone still keeping their PP card, and do you think it is worth it?

  31. “While the annual fee was increased a while back, note that Chase is making exceptions this year for existing cardmembers. The $550 annual fee will be lowered to $450 for renewals between July 1 and December 31, 2020.”

    My annual fee hit just hit July 1 and it was the full $550 NOT $450. Where is this information from???

  32. To be honest, there was no benefits to me since the year began due to no travels allowed at all. I paid the annual fee in February 2020, and no use after that. I can’t travel nor dine in. Not worth of paying $550 a year.

  33. Interesting that you prefer to transfer when you’re not getting the full value of the points. The card comes with a 50% bonus if you redeem for chase travel versus 1:1 point transfers. I will note that at least it is 1:1 and no fees unlike some transfers with Platinum points and the Chase travel does not charge a service fee, also unlike Amex

  34. Personally, having this card is a no-brainer for me – the $300 travel credit combined with the travel insurance, that I would otherwise have to purchase separately, more than compensates for the annual fee. Throw in the other perks and I have a hard time understanding why anyone who travels internationally would think twice about getting the card.

  35. Dining is still x3 for my CSR … As some of you’ve mentioned, it would be nice if Chase offers x10 or even x5 for dining since we would be spending very minimum amount for hotels etc this year.

  36. Just an FYI I have been getting 5x on a couple of dining spends since July, with CSR. I don’t know if I missed an announcement regarding this

  37. Hello, I have a quick question. If an American retires abroad in Europe, what would be the best card to have with no foreign transaction fees? Chase Sapphire preferred? Reserve is too expensive since I will not travel so much while retired. Of course I will be getting a local bank card in the foreign country but if I have to travel occasionally while I am retired abroad, what card is the best?

  38. I mean I will not have the chase Trifecta benefit in Europe. Since Freedom Flex and Freedom Unlimited have foreign E. fees. I have the Trifecta now. But will not be able to use that abroad. So what is the best card to keep while being retired in Europe?

  39. I acquired the CSR in 2016 so the 48 month timeline has passed. Would it be possible to downgrade the CSR to a Freedom Unlimited and then immediately (or in some short time) re-apply for the CSR? This would effectively be acquiring a Freedom Unlimited while obtaining a CSR bonus, so I could see it being frowned upon. Unless I’m mistaken, Chase isn’t like Citi where you can’t open/close/change the account in x months – the timeframe is just since opening right?

  40. With a $200 net fee (valuing DoorDash at $50), the break even point on the CSR is $13.3k dining spend assuming 1.5 cpp redemptions after factoring the opportunity cost of 3% back on Freedom for dining. If we compare to BofA PR with Plat Honors, the break even is $20k spend on dining and travel. They need to upgrade the Sapphire cards in light of new Freedom earning

  41. @M G – I did a similar thing as you, I opened the CSR in Aug 2016 and downgraded it to Chase Freedom last Nov 2020. Then applied for the CSP for the 80K offer with no issues. You can certainly do this with the CSR to get another sign up bonus. I waited 48 hours before I applied for the new card after the product change.

  42. @M G – Remember it is 48 months from the sign up posted date. Mine was Nov 2, 2016, so I had to wait till at least Nov 3, 2020 to sign up for the CSP (or in your case the CSR) for the bonus.

  43. Given that nearly everyone is doing far less travel in (2020 and) 2021, it has become very difficult to utilize some of the CSR’s biggest benefits including Priority Pass and primary car rental insurance. The recently introduced Lyft, Peloton and Door Dash benefits are very niche and don’t adequately compensate for that. The bump in bonus for groceries is nice but temporary.

    Since Chase now only gives 50,000 UR points with $550 annual fee (versus 100,000 UR points with $450 annual fee back in 2016), the CSR is far less compelling than before. Of course, there may still be some net-positive use cases that exist, but like the Amex Platinum card, you’ll have to do some hard math to see if it makes sense. The only no-brainer, premium-fee card that remains is now the Amex Hilton Aspire… so the game has gotten tougher over the past few years. Oh well, first-world problems.

  44. I have both the CSR & Amex Plat. The CSR travel credit is way easier to use – sometimes too easy. Amex, not so much. CSR points ecosystem much easier to redeem and use without needing legal counsel to guide through every transaction. Amex, not so much – must retain legal counsel to guide you through their points ecosystem otherwise a slight mistake may result in statement credit denied or points taken away for a perceived violation of rules. CSR is for regular people and AmexPlat is for fancy people and by having both I realized, I am truly regular people.

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