Chase Sapphire Reserve: Worth the £550 Fee?
The Chase Sapphire Reserve offers exceptional travel rewards but comes with a hefty annual fee. Let's see if it's worth your wallet.
The Quick Version
The Chase Sapphire Reserve is a powerhouse for frequent travelers, offering up to 10X points on travel bookings through Chase and a generous $300 annual travel credit. However, the $550 annual fee and high APR could be a dealbreaker for some. If you travel often and dine out regularly, this card's rewards can outweigh its costs.
What's Inside
Here's the breakdown: You earn 10X points on hotels and car rentals booked through Chase Travel, 5X points on flights, and 3X points on dining. All other purchases earn 1X points. There's a 60,000 point bonus if you spend $4,000 in the first 3 months, which is more achievable than some might think. But beware of the 22.49%-29.49% variable APR if you carry a balance.
What's Actually Good
The $300 travel credit effectively reduces the annual fee to $250 if you travel enough. Priority Pass lounge access is a sweet perk for those long layovers. The card really shines in travel-related rewards, especially if you book through Chase Travel. Dining rewards at 3X points also add up if you're a foodie.
The Catch
The $550 annual fee is no joke. You'll need to maximize those travel credits and rewards to make it worth it. Also, the rewards are best when you book through Chase Travel, limiting flexibility. The high APR is a killer if you're not paying off the balance each month. And yes, you'll need a top-notch credit score of 720+ to get approved.
Who It's For
If you're a frequent traveler who can leverage the travel credits and points, this card is for you. High spenders who dine out often will also see the benefits. But if you're not using the travel perks or tend to carry a balance, skip it. Look elsewhere if you're just starting to build credit.
The Bottom Line
The Chase Sapphire Reserve is ideal for those who travel enough to justify the annual fee with its robust rewards. It's not for everyone, though. If you're considering a cheaper card, check out our related post on MBNA 0% Balance Card: Debt Relief or Debt Trap? for more options.
