My name is Julian and this is my quick review on whether or not the Chase Sapphire Reserve credit card is worth it for you. So the Chase Sapphire Reserve is what’s known as a premium rewards credit card, specifically geared towards frequent travelers with this card. It has a ton of premium features, a ton of perks. But then it also has a $450 annual fee now.
If you don’t like me, that immediately turns you off, but if you like it, please move on. But that might be a little bit premature, so I want to go over really quickly about why I think this card is worth it for a lot of people, especially if you travel a lot, which hopefully you will be if you get into this hobby of travel hacking.
The Chase Sapphire Reserve earns what are known as Ultimate Rewards points. These points are chases special points for traveling, most banks have them, like American Express and Citibank and Chase likes to call this points Ultimate Rewards.
And the name isn’t too far off the mark, because these are really incredible points, so these points are earned on all the chase freedom cards, all the Chase Sapphire cards, and all the ink business cards.
These points are nice, because they’re very flexible, you get to use them as cash to purchase flights and hotels and rental cars. Or you can transfer them to Airlines, like Southwest, United Korean Airlines and use those in their own programs for those respective Airlines.
Now let’s get down to whether or not this card is worth it. Firstly, you’re going to see when you sign up for this car is as a 50,000 bonus point, sign up bonus, now 50,000 points seems like a lot. But it’s not $50,000, the way points work is that they’re worth at minimum of penny each so 50,000 points translates to $500 in cash back.
Now if you’re doing this for travel, that’s not going to be your best bang for your buck, instead what you want to do is that you want to use these points towards travel related purchases. So remember when I told you that these points, kept one of two uses, you can either use them like cash to purchase flights and hotels and stuff; or you can transfer to rewards programs and other airlines or hotels.
If you use them like cash, this is nice, because you get a 50% bonus on those points. So instead of being worth five hundred dollars, you get an extra 50% bump to $750. So this means that not only are these fifty thousand points worth more. But if you have points in any of these other programs, you can combine them with these points and also make all of these points worth more as well.
If you’ve been stocking up on ultimate reward points from different chase cards, don’t spend them yet, instead you may get this card and get the extra bonus and make them go further, so that being said let’s jump into some of the perks of the card. So you’re looking at a four hundred dollar fee and a minimum of $500 to $700 sign up bonus already. It’s worth it, but let’s try to make it even more.
So the other thing that you’re going to get with this card is what’s known as a 300 dollar annual Trevor credit. The way this works with Chase is that if you buy anything that’s travel related, such as a flight or a hotel or rental car, they will reimburse whatever you spent up to three hundred dollars.
So you travel at least once a year, you can use up this credit pretty easily and $450 fee down to $150 fee. Now you’re looking at 150 and fees versus 500 to 700 dollars in bonuses, which is already enough to tip the scales.
But let’s keep going to the next thing about this. You also earn extra points on eating out and dining when you travel, as well as when you are just at home. So this is great because at minimum that’s three percent cash back and you get no foreign transaction fees.
But let’s keep going. In addition to all those perks, you can take those points and use them as cash and get $750 worth of flights to chase or you can transfer them to other airlines, like Southwest United. Now one of the cool redemptions is if you actually do it to Korean Airlines, you can get two round-trip tickets to Hawaii at 350 thousand points.
Now those tickets can easily be over a thousand dollars, so you’re looking at two thousand dollars in value for transferring those points to Korean Airlines, that’s just to give you an idea that $500—$700 is just the tip of the iceberg, in terms of what you can do now.
Another great benefit of this card is that you get your travel credit, but you also get what’s known as TSA Pre Check and Global Entry. So when you get that an application for it, if you get approved, it costs a hundred dollars, but this car covers that hundred dollar cost.
And in exchange, what you get is that when you go to the airport, and let’s say you come back into the country from an international trip. You get to go through customs. Global Entry lets you skip the customs lines, you just go straight into one of these Global Entry kiosks.
You scan your passport and put your fingers on the little reader, and it prints out your little ticket that you take to the customs officer, and you get to skip the line. You also get this life for the Global Entry, basically a license or an ID, which you can use as a government valid form of identification.
If you don’t know about your license, which my wife likes to do the second thing is when you get Global Entry, you also get TSA Pre Check thrown into the deal, which many of us have seen. This allows you to bypass those long airport lines and cut through, you have to keep on your shoes, you get to keep your laptop in your bag, you get to keep on your belts and your jackets and your liquids as well.
You don’t need to remove any of those things, which saves you some time and I tend to be late for a lot of my flights. So being able to go through security in about 10 minutes as much better than having to wait thirty minutes to an hour, plus I would have missed a lot of flights to see if not for those perks. So I really love TSA Pre Check and Global Entry.
Another thing is that you also get Priority Pass lounge entry and I could spend a lot of time talking about this. But in short priority passes, there lounges are all over the US, as well as all over the world. We went to the lounge in France, and we went to the lounge in Rome.
I’ve been to the lounge in Houston, tons of different places that have these great lounges, which this card allows you to access them all for free and bring guests as well for free. I’m inside the lounge, you get free food, free Wi-Fi and best of all, free drinks. And I don’t mean just water and coke and sprite you also get wine, beer and other things like that.
So it’s a nice place to relax and take a load off while you’re waiting for your flight to come. Normally a membership like this, the one that we have is almost $400 and that means you can visit as many times as you want within a year for free.
But if you buy the membership through these people do, the normal way you have to pay twenty seven dollars for each of your guests with the Sapphire Reserve Card. All your guests are free as well as all of your visits are free. So we brought five people in with us on one of our trips and everybody came in for free.
So you’re looking at thousands of dollars of value. If you maximize your lounge membership and finally the card gives you a lot of other random, little cool benefits that I’ll touch on really quickly.
So let’s go check some of those out, so we go straight to chases website, and so here are some of the benefits that you get we mentioned three times points on travel and dining. They also give you trent cancellation and trip interruption insurance, which is great.
If your trip gets cut short or if something happens and they cancel your trip, like sickness or bad weather, because you can get up to ten thousand dollars for anything that you’ve already paid for your trip, for example, you’ve booked the hotel and a tour, they’ll reimburse you for that.
So this is fantastic. If you have a big trip coming up, if something comes up out of your control and the airlines aren’t trying to help you out or reimburse you, this will help you cut your losses up to ten thousand dollars, which is huge. You also get primary rental car coverage as well, so you can waive the insurance, which is fantastic.