20 Chase Sapphire Reserve Benefits You Need To Know About

Chase Ultimate Rewards® are one of the most popular flexible credit card rewards programs. Want cash back? No problem. Prefer to redeem rewards for travel? It’s easy. Nearly all of Chase’s redemption options yield a fair value, and in some cases, you’ll get industry-leading redemption rates. That’s a benefit to be excited about.

1. Big Welcome Bonus

Although a welcome bonus is a one-time benefit, the Sapphire Reserve’s is big enough to tip the scales. Currently, you can earn 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening.

Since that’s worth hundreds of dollars—maybe more, if you’re strategic—it’s absolutely a perk you won’t want to miss.

2. Bonuses on Travel and Dining

In the long-term, the earning rates on your credit card can add up to serious rewards potential. Thankfully, the Chase Sapphire Reserve® earns bonus points in several categories. Cardholders earn 5 points per dollar on flights and 10 points per dollar on hotels and car rentals when purchasing travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3 points per dollar on other travel and dining and 1 point per dollar spent on all other purchases.

3. 50% Redemption Bonus

While earning points on your purchases is important, it’s only half the story. How you can redeem those points is the other half—and the Sapphire Reserve provides bonuses on select redemptions to stretch your points further.

There are two types of redemptions where you’ll get a 50% bonus when redeeming rewards. First, you’ll get 50% more value when using your points to book travel through Chase Travel℠ (plus, there are no blackout dates). Second, you can also get 50% more value when reimbursing purchases in select, rotating categories through Pay Yourself Back. In both cases, your rewards are worth 1.5 cents per point.

4. Airline and Hotel Transfers

While a value of 1.5 cents per point is industry-leading for some types of redemptions, travelers may do even better by transferring Ultimate Rewards to airline and hotel loyalty programs. Chase partners with more than a dozen popular travel programs.

Transfers are at a 1:1 ratio—1,000 Ultimate Rewards points equal 1,000 airline miles or hotel points—and most transfers go through instantly.

With Chase’s partners, including United Airlines, World of Hyatt and more, you have endless opportunities to score travel deals. Redemptions may yield 2 cents or more per point. Some Ultimate Rewards sweet spots can easily lead to even higher value.

5. Elevated Rewards on Lyft Rides

Through March 31, 2025, cardholders can earn 10 points per dollar spent on Lyft rides. This elevated rate is more than triple the normal 3 points per dollar earned on rideshares.

Many of the Sapphire Reserve’s benefits are centered around travel. For frequent travelers, these benefits are as good as gold.

6. $300 Annual Travel Credit

Not only does the Sapphire Reserve offer statement credits toward travel, but these credits are exceptionally easy to use. Each anniversary year, cardholders can receive up to $300 in statement credits toward travel reimbursements. No registration is required. Simply charge qualifying expenses—such as flights and hotels—to your card, and the credits will automatically be applied to your account.

7. Trusted Traveler Credit

Like many travel cards, the Chase Sapphire Reserve® includes a statement credit as reimbursement for a trusted traveler program application fee once every four years. But, the Sapphire Reserve’s benefit is more flexible than most. It can be used to cover NEXUS, as well as Global Entry or TSA PreCheck, which are more common alternative options.

8. Airport Lounge Access

Airport lounge access is always hugely valuable, and the Sapphire Reserve does it right. Cardholders not only get access to the new Sapphire Lounges but also Priority Pass lounge access after a one-time enrollment. You can bring up to two guests traveling with you on each visit.

If you were to pay out of pocket for a Priority Pass Prestige membership—the level allowing you unlimited visits at no additional cost—it would run $469 per year. So, for the frequent flyer, this benefit alone goes a long way toward offsetting the Sapphire Reserve’s annual fee.

9. Luxury Hotel Perks

Travelers booking through Chase’s The Edit collection receive extra perks with their bookings. Complimentary breakfast, room upgrades and late checkout are just some of the available amenities. Many properties also include unique benefits, such as a credit to the on-site spa or restaurant. You need to hold a select Chase credit card to be eligible—and the Sapphire Reserve is one such card.

10. No Foreign Transaction Fees

Card issuers and banks sometimes charge foreign transaction fees on international purchases and transactions. Fees vary but generally range from 3% to 5%. Sapphire Reserve has no foreign transaction fees, so you never have to worry about extra charges, regardless of where you travel.

Travel insurance can be expensive, but many protections are included with the Sapphire Reserve and automatically apply when you pay for your trip with your card.

11. Auto Rental Coverage

The Sapphire Reserve comes with primary auto rental coverage, meaning you can use it without filing a claim with your personal insurance provider. To receive coverage, charge rental costs to your card and decline the rental company’s optional collision insurance. The card’s auto rental coverage reimburses up to $75,000 for theft and collision damage for rental cars in the U.S. and abroad.

12. Trip Cancellation and Interruption Insurance

Nobody plans for abrupt changes to travel plans due to sickness, weather and other scenarios. Luckily, Sapphire Reserve’s trip cancellation and interruption insurance reimburses cardholders up to $10,000 per person and $20,000 per trip on eligible pre-paid non-refundable travel expenses for covered situations.

13. Lost Luggage Reimbursement

Airlines lose luggage. It’s a fact. The Department of Transportation’s May 2024 Air Travel Consumer Report revealed that U.S. airlines accounted for 224,078 mishandled bags, including lost bags, in March 2024 alone. Cardholders and immediate family members are covered up to $3,000 per passenger for checked or carry-on luggage that is lost or damaged by the airline.

14. Emergency Evacuation and Transportation

Cardholders and immediate family are covered for medical services and transportation expenses up to $100,000 for sickness or injuries sustained while traveling far from home that result in an emergency evacuation.

Even when you’re not traveling, the Sapphire Reserve has a lot to offer.

15. DoorDash Discounts

Sapphire Reserve cardholders can enjoy a complimentary DashPass membership of at least one year if they activate this benefit by Dec. 31, 2027. DashPass includes savings like a $0 delivery fee at many DoorDash and Caviar restaurants and lower service fees with minimum spending.

The Sapphire Reserve also throws in a $5 credit each month toward DoorDash through January 31, 2025 that can be rolled over for up to $15 in credit. If you order food online regularly, these discounts add up to some scrumptious savings.

16. Purchase Protection

Sapphire Reserve’s purchase protection covers new card purchases for 120 days against damage and theft up to $10,000 per claim and $50,000 total annually.

17. Return Protection

There’s still hope if a store won’t accept returns on items you purchased using Sapphire Reserve. The card’s return protection reimburses you for eligible items a store won’t take back within 90 days of purchase. Coverage is for up to $500 per item and $1,000 annually.

18. Extended Warranty Coverage

The Sapphire Reserve’s extended warranty protection is available on card purchases that come with an eligible U.S. manufacturer’s warranty of three years or less. This protection extends the warranty period by an additional year.

In addition to the incredible benefits above, there are some other perks available for cardholders that often fly under the radar.

19. Lyft Pink All Access Membership

On top of earning more rewards for Lyft rides, cardholders can also get a complimentary two-year Lyft Pink All-Access membership when they activate by Dec. 31, 2024, which includes a complimentary one-year GrubHub membership and a discount on all lux rides and bike-shares. Membership automatically renews annually.

20. Instant Access With Card Approval

If you’re approved for the Chase Sapphire Reserve®, you don’t need to wait until your card arrives in the mail to start using it. You can receive same-day access to your card by adding it to a digital wallet, like Apple Pay, Google Pay or Samsung Pay.

It’s wise to evaluate cards that carry an annual fee. For many, the benefits, credits and points included with the Sapphire Reserve card more than offset its hefty annual fee. Card perks change all the time, so be sure to check your card’s included benefits to ensure you’re getting all the value you can from it.

Forbes Advisor Banking Writer Kevin Payne contributed to this article.