Hello Friends, I hope all is well with you! Today, I am going to be reviewing the Chase Sapphire Reserve rewards credit card. These opinions are my own, and I am in no way influenced by anyone.
Overall Verdict: The Chase Sapphire Reserve rewards credit card is made for frequent travelers. It offers a high reward amount on dining and travel purchases, luxurious benefits, and offers a travel credit. The downside to this card is the hefty annual fee, and the low reward amount on purchases outside travel and dining.
Some things about this card I like:
Some things about the card that I don’t like:
The Chase Sapphire Reserve credit card offers you the chance to earn points for every dollar that you spend. You accumulate the points in your account until you are ready to use them. Chase offers you a variety of ways to redeem your points. You can redeem them as cash that can be deposited into the bank account that is linked to the card, you are able to redeem them for gift cards, you can redeem your points for a statement credit, and you are able to redeem them for travel through Chase Ultimate Rewards (you get a 50% point bonus if you do). The last option will give you a 50% bonus on your points if you book through Chase Ultimate Rewards. For example, if you have 50,000 points (which is equivalent to $500), you can gain an extra 25,000 bonus points (which is equivalent to $250) by booking your travel through Ultimate Rewards. I’ve seen tickets that are more expensive than third party travel sites and tickets that are cheaper than third party travel sites; it just depends.
The Chase Sapphire Reserve credit card has a hefty $550 annual fee.
The Chase Sapphire Reserve credit card gives you the opportunity to earn 3x points for every dollar that you spend on dining and travel. All other purchases will earn you 1x points for every dollar that you spend. Chase also offers you the opportunity to earn points by shopping at certain stores or buying certain brands. You may earn 10% extra points at Walmart or earn an extra $5 for signing up with AT&T. There are limits to the amount of points you can get on these extra bonus offers. The stores and the limits vary depending on the deal, so make sure to check out the details.
There is a 50,000 sign-up bonus when you spend at least $4,000 in purchases in the first three months of your accounting opening. If you book through Ultimate Rewards, the 50,000 points could turn into 75,000 points, which would equal about a 19% return on the money you would have spent regardless.
There are no foreign transaction fees.
This rewards card does offer luxurious and wonderful benefits. It’s important to mention that you will get these benefits only if you use the card on those purchases. Additionally, this is not an exhaustive list.
These extra benefits include:
For more information and details on their benefits, check out their benefits page.
There is no introductory APR offer on the Chase Sapphire Reserve rewards credit card. The APR is between 16.99% and 23.99%, but this depends on your credit score.
Their other fees include:
For more information on their fees, check out their fee schedule.
There are a couple of ways to contact their customer service. The first way would be to call the number on the back of the card. The second way would be to send them a secure message through their online message portal. One of the benefits to this card is that you have direct access to 24/7 customer service. It’s important to note that your experience with their customer service will vary from time to time.
Who it’s perfect for:
Who it isn’t perfect for:
If you are still unsure if a rewards credit card makes sense, check out my post on Why You Should Use Rewards Credit Cards.
Additionally, if this card isn’t right for you, I invite you to check out my credit cards page for more information on other cards.