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Chase Sapphire Reserve card

Chase Sapphire Reserve

PerkSensei Desk · Last updated

Is this deal useful?

At a glance

Bonus
100,000 pointsChase Ultimate RewardsEst. $1,000+ value
To earn it
Spend $6,000 in 3 months
Annual fee
$795 annual fee
Credits
Up to $2,930 in year one
11 credits with a dollar value
Apply by
No public end date stated

Terms and eligibility can change. Confirm the details with the issuer before you apply.

Credits and perks

Most used first. Tick what you don't need and the math leaves it out. Full terms are on the issuer's site.

  1. Annual travel credit

    $300 each account year

    Easy to use

  2. DashPass membership

    No set dollar value (12 months)

    Easy to use

  3. DoorDash $15 monthly promo

    $15 a month, up to $180 a year

    Easy to use

  4. Apple TV and Apple Music

    No set dollar value (one-time, at least 12 months)

    Easy to use

  5. Priority Pass Select, 2 free guests, no restaurants

    No set dollar value

    Easy to use

  6. Sapphire Lounges, unlimited visits + 2 guests

    No set dollar value

    Easy to use

  7. Air Canada Maple Leaf Lounges + 1 guest on Star Alliance

    No set dollar value

    Easy to use

  8. Global Entry, TSA PreCheck or NEXUS credit

    $120 every 4 years

    Easy to use

  9. Lyft credit

    $10 a month, up to $120 a year

    Takes some planning

  10. DoorDash two $10 non-restaurant promos

    $10 (twice a month), up to $240 a year

    Takes some planning

  11. Sapphire Reserve Exclusive Tables dining credit

    $150 every six months, up to $300 a year

    Takes some planning

  12. StubHub and viagogo credit

    $150 every six months, up to $300 a year

    Takes some planning

  13. IHG One Rewards Platinum Elite status

    No set dollar value (through 12/31/2027)

    Takes some planning

  14. The Edit hotel credit

    $250 per prepaid booking, up to $500 a year

    Hard to use

  15. Peloton membership credit

    $10 a month, up to $120 a year

    Hard to use

  16. Southwest Chase Travel credit ($75,000 spend)

    $500 each calendar year

    Hard to use

  17. The Shops at Chase credit ($75,000 spend)

    $250 each calendar year

    Hard to use
Year one
+$3,135Est. $1,000+ bonus + $2,930 credits − $795 fee
Each year after
+$2,045$2,840 credits − $795 fee

With the credits you'd use, you come out ahead in year one and every year after.

6 perks have no set dollar value, so they aren't counted.

What the bonus is worth

Est. $1,000+ value

100,000 points × 1¢

At least $1,000 at Chase's own rate of 1¢ per point, the floor you can count on. Booking travel or moving points to partners can stretch them further: points sites put them at up to 1.8¢ each.

Up to 2¢ per point with Chase Points Boost on select Chase Travel bookings (Sapphire Reserve); 1¢ as cash back.

"If you're interested in cash back, each point is worth 1 cent when redeemed."
Chase Ultimate Rewards: Chase's own ratechase.comOfficial source
What points sites say: 1¢ to 1.8¢ per point
NerdWallet: 1.8¢ per pointnerdwallet.comThird-party sourceUpdated Oct 13, 2026 (1.8 for Sapphire Reserve holders; 1.4 for Sapphire Preferred / Ink Preferred; baseline 1.0)
Upgraded Points: 2¢ per pointupgradedpoints.comThird-party sourceOctober 3, 2026
One Mile at a Time: 1.7¢ per pointonemileatatime.comThird-party sourceupdated January 25, 2026 (predates the 2026 Hyatt 4:3 change)
The Points Guy (via InsideFlyer): 2.05¢ per pointinsideflyer.comThird-party sourceJune 2026

Third-party valuations: what points sites estimate points are worth on average, not a cash value or an issuer promise. Your value depends on how you redeem.

Estimate as of Oct 17, 2026.

Biggest catches

  • Chase 5/24. Chase reportedly denies most applicants who opened five or more personal card accounts (any issuer, authorized-user cards included) in the past 24 months. It is not printed on the Chase page, so you only find out at the decision. doctorofcredit.com (third-party)
  • One bonus per Sapphire card, effectively. You can't be approved while you hold this same card, and Chase says the bonus may not be available if you held it before. A product change into the card is not a path to a second bonus. creditcards.chase.com
  • Chase counts cards you opened and closed. Even under 5/24, Chase says it may deny the bonus based on how many cards you have opened and closed. Heavy churners of Chase cards can be approved and still get no bonus. creditcards.chase.com
  • Cash-like spend doesn't count toward the bonus. Money orders, wire transfers, crypto, person-to-person payments, betting and fees (including the annual fee) are excluded from bonus spend. Chase's list doesn't name gift cards, but 'not limited to' leaves it room to exclude similar transactions. creditcards.chase.com
  • Credited travel earns nothing. The part of a purchase covered by the travel or Edit credit earns no points. Your first $300 of travel each year is effectively a 0x purchase. creditcards.chase.com
  • Gift-card and points sellers aren't 'travel'. Buying travel gift cards or points from merchants that sell them won't trigger the travel category or the travel credit. creditcards.chase.com
  • Several perks need activation. StubHub, Peloton and Apple need one-time activation (Apple by June 22, 2027) and IHG status needs account linking. Nothing posts until you do it. creditcards.chase.com
  • Monthly credits don't roll over. The Lyft credit resets monthly and unused value is lost, so a skipped month is gone for good. creditcards.chase.com
  • Authorized users cost $195 each. Each authorized user adds $195 a year, not a small add-on fee. creditcards.chase.com

Third-party report; not confirmed in the official offer terms we could retrieve. Details may be outdated or channel-specific. Verify the offer shown by the issuer before applying.

YMMV: approval and bonus eligibility are the issuer's decision.

Sensei's move

  1. Chase trifecta: pool points into the Reserve

    Earn on Freedom or Ink cards in their bonus categories, then move the points to your Sapphire Reserve, which can go to your own cards or one household member. From the Reserve they transfer to partners and get the Reserve's Points Boost rates (up to 2 cents on select Chase Travel flights and hotels). What changed: Points Boost replaced the fixed 1.5-cent portal rate from June 23, 2025, and points earned after October 25, 2025 never get the fixed rate, so pooling no longer lifts every portal booking, only Points Boost offers.

    Still works as of Oct 17, 2026 · thepointsguy.com (third-party)

  2. Keep Hyatt transfers at 1:1 through the Reserve

    Since October 1, 2026 Sapphire Preferred and Ink Business Preferred points transfer to World of Hyatt at 4:3, but the Reserve and Reserve for Business stay at 1:1. Doctor of Credit reports you can move points from those cards to a Reserve first and transfer at 1:1. That makes the Reserve the Hyatt hub of a Chase wallet.

    Still works as of Oct 17, 2026 · doctorofcredit.com (third-party)

  3. Spend legacy points at 1.5 cents before October 26, 2027

    Points earned through October 25, 2025 keep the old 1.5-cent Chase Travel rate until October 26, 2027; after that only Points Boost remains. If you are sitting on pre-cut points and don't plan a transfer, book portal travel with them before the deadline.

    Still works as of Oct 17, 2026 · frequentmiler.com (third-party)

  4. Hold both Sapphires

    Since June 23, 2025 Chase lets you hold the Sapphire Reserve and Sapphire Preferred at the same time, with bonus eligibility judged per card. Holding a Preferred no longer blocks the Reserve bonus.

    Still works as of Oct 17, 2026 · frequentmiler.com (third-party)

Third-party report; not confirmed in the official offer terms we could retrieve. Details may be outdated or channel-specific. Verify the offer shown by the issuer before applying.

Sensei's take

  • Fair churn
  • Keep a few years
  • Earns a travel wallet spot

100,000 points for $6,000 is solid, but the $795 fee eats into a standalone churn and Chase treats the bonus as once per card. The keeper case is the easy layer: the $300 travel credit, DashPass with the $15 monthly DoorDash promo, lounges, and now the only 1:1 Hyatt transfers in Ultimate Rewards. If you don't use DoorDash or Hyatt, the remaining credits (The Edit, Peloton, StubHub, the $75k-spend perks) are hard to cash, and one year is enough. For a Chase-centric traveler it earns the wallet slot as the hub of the trifecta.

Our opinion, from the facts on this page as of Oct 17, 2026.

Weighing this card? Put it before the Money Court jury

How today's offer compares

Today
100,000 points
Highest in 3 years
150,000 points
$6,000 spend in 3 months
Points bonus over time
  1. Aug 2025: 125,000 points, reported by Doctor of Credit
  2. Apr 2026: 150,000 points, reported by NerdWallet, highest in 3 years
  3. Jun 2026: 150,000 points, reported by Doctor of Credit, highest in 3 years
  4. Today: 100,000 points

Today's offer is 50,000 points below the highest public offer in the last 3 years.

Doctor of Credit: 150,000 pointsdoctorofcredit.comThird-party source

Third-party report; not confirmed in the official offer terms we could retrieve. Details may be outdated or channel-specific. Verify the offer shown by the issuer before applying.

Public offers anyone could apply for since Oct 2023, from the bonus-history sources we checked. Whether the first-year fee was waived isn't counted. Targeted and referral offers aren't compared.

Sources

Chase Sapphire Reserve official product pagecreditcards.chase.comOfficial sourceChecked Oct 17, 2026

Terms can change. Spotted something out of date? Tell us and we'll recheck it against the provider's page.

Report outdated terms

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