Annual Fee
$795
Foreign Txn Fee
$0
Credit Needed
Excellent (740+)
APR
25.74%–36.00% variable
Rewards Categories
8x Chase Travel purchases (incl. The Edit)
4x Flights and hotels booked directly
3x Dining worldwide
1x All other purchases
Benefits
$300 Annual Travel Credit, auto-applied to nearly any travel purchase
Up to $500/yr credit for stays at The Edit by Chase Travel (split into two $250 credits)
Up to $300/yr dining credit at Sapphire Reserve Exclusive Tables (OpenTable, split semi-annually)
Chase Sapphire Lounge by The Club + 1,300+ Priority Pass Select lounges, 2 guests free
Complimentary Apple TV and Apple Music subscriptions (~$288/yr value, activate by 12/31/26)
Complimentary DashPass membership + $120/yr Peloton membership credit (through 12/27)
Up to $120 Global Entry/TSA PreCheck/NEXUS credit every 4 years
Complimentary IHG One Rewards Platinum Elite status through Dec 31, 2027
Primary rental car insurance, trip cancellation/interruption, lost luggage coverage
Welcome Bonus
125,000 bonus points after spending $6,000 in first 3 months
Pros & Cons
Pros
Chase states over $3,000 in annual benefit value against the $795 fee
Keeps the 1:1 transfer ratio to all partners including Hyatt (unlike Sapphire Preferred)
Excellent lounge access: Chase Sapphire Lounges + Priority Pass, 2 guests included
$300 travel credit is broad — applies to flights, hotels, parking, rideshare, transit
Cons
Annual fee jumped 45% from $550 to $795 in the 2025 refresh
Requires excellent credit (740+) to be approved
The Edit and dining credits require booking through specific curated portals to get value
Authorized user fee is steep at $195/card
Best For / Worst For
Best For
Frequent travelers who can consistently use the travel, hotel, and dining credits
Worst For
Occasional travelers who'd struggle to use $1,100+ in credits across travel/hotel/dining portals
Reward Valuation
Ultimate Rewards points valued around 1.7–2.0 cents via transfer partners, up to 1.5x boosted value on select Chase Travel bookings via Points Boost.
Points Value Breakdown
Average Value
1.85¢/point
Travel Redemption
1.50¢/point
Transfer Partner Value
2¢/point
Statement Credit Value
1¢/point
Cash-Out Value
1¢/point
Example
125,000 welcome bonus points ≈ $2,500 via Hyatt transfer at 1:1, or ≈ $1,875 using Points Boost on select Chase Travel bookings at the enhanced 1.5¢ rate.
Statement Credits
Annual Travel Credit
$300/yr
Auto-applies to almost any travel purchase: flights, hotels, parking, rideshare, transit
The Edit Hotel Credit
Up to $500/yr
Two $250 credits for 2+ night stays at The Edit by Chase Travel collection
Dining Credit
Up to $300/yr
$150 twice yearly at Sapphire Reserve Exclusive Tables on OpenTable
Apple TV + Apple Music
~$288/yr value
Complimentary subscriptions through June 2027
Peloton Membership
$120/yr
Through Dec 2027
Transfer Partners
World of Hyatt
Reserve keeps the full 1:1 ratio, unlike Sapphire Preferred
1:1
United MileagePlus
No transfer fee
1:1
Southwest Rapid Rewards
Good for short domestic flights
1:1
Marriott Bonvoy
No transfer fee
1:1
Travel Protections
Trip Cancellation/Interruption
Up to $10,000 per person, $20,000 per trip
Lost Luggage Reimbursement
Up to $3,000 per passenger
Trip Delay Reimbursement
Covers delays of 6+ hours
Insurance Benefits
Primary Rental Car Coverage
Decline the rental agency's CDW and rely on Chase, saving $20-30/day
Purchase Protection
Covers new purchases against damage/theft
Approval Odds
Typically requires excellent credit (~740+) and is also subject to Chase's 5/24 rule. Chase considers overall relationship and existing Sapphire card ownership.
Historical Welcome Offers
June 2026
High Offer125,000 points after $6,000 spend in 3 months
Late 2025
100,000 points after $6,000 spend in 3 months (post fee-increase refresh)
Pre-2025
60,000 points after $4,000 spend in 3 months ($550 fee era)
User Reviews
May 2026
Worth it if you actually travel
Between the $300 travel credit, lounges, and dining credit, I clear the fee every year without trying hard. Not for casual travelers though.
— P.A.
April 2026
Fee increase changed the math
At $550 this was a no-brainer. At $795 I actually have to plan around using The Edit and dining credits, which feels like work.
— S.G.
Comments
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Last verified June 2026