This post was originally published on this site
My friend flashed me a new credit card and said, “This is the latest one; it’s a must.” It was September 2016 and my first encounter with the Chase Sapphire Reserve® (see rates and fees). At the time, I only held a cash-back credit card and a cobranded airline credit card, but I took his words to heart.
Nearly a decade later, the Chase Sapphire Reserve still holds a special place in my wallet, as it was my first transferable currency credit card.
Several staffers at TPG have the Sapphire Reserve, but many also have the ever-popular Chase Sapphire Preferred® Card (see rates and fees). While there are valid reasons why some people cancel or downgrade their Sapphire Reserve, the idea of getting rid of mine has never crossed my mind. Even after the card’s massive refresh with an increased annual fee, new benefits and changes to the earning rates, this card is still my go-to travel card.
This card has provided me with immense value throughout my points and miles journey. Here are all the reasons why I’ll never cancel my Chase Sapphire Reserve.
The annual fee is justified
When I originally applied for the card in 2016, the Sapphire Reserve had a $450 annual fee. At the time, other top-tier cards like The Platinum Card® from American Express and the Citi Prestige® Card (no longer available for new applicants) had comparable annual fees, but of them all, I found the Reserve’s annual fee to be the easiest to justify given its benefits.
The information for the Citi Prestige has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Despite the Sapphire Reserve’s new annual fee of $795, as an existing cardholder, I have until my renewal date in December before I pay the new fee. Plus, I get access to the card’s new perks starting Oct. 26. The new fee may shock most as it surpasses the Amex Platinum’s $695 annual fee (see rates and fees).
I value a credit card’s annual fee in relation to its benefits, and thankfully, the Sapphire Reserve’s new statement credits feel less like coupon-book-style statement credits. For existing and new cardholders, both the current and updated credits don’t require too much effort. For me, this makes the investment of the annual fee worth it.
The $395 annual fee attached to the Capital One Venture X Rewards Credit Card makes the card a more affordable alternative to the Sapphire Reserve, but the restriction on its travel credit and lack of other statement credits can be a turnoff if you value flexibility; this is another reason the Sapphire Reserve is a winner in my book.
Related: Are premium credit cards worth the annual fee?
The transfer partners are extremely useful
The Sapphire Reserve has several airline and hotel partners, including many across the three airline alliances (Oneworld, SkyTeam and Star Alliance), plus domestic programs like Southwest Rapid Rewards.
The latter has been particularly valuable when traveling in the U.S., saving me thousands of dollars on last-minute bookings. I’ve been able to secure one-way airfare using my Southwest points for as little as 6,000 points between John Wayne Airport (SNA) and Denver International Airport (DEN).
Based on my spending habits, the Sapphire Reserve helps me accrue points faster than the Sapphire Preferred — another Chase Ultimate Rewards-earning card — and has the same transfer partners.
As a result, in 2024 alone, I redeemed over 300,000 Chase Ultimate Rewards points, thanks to the ease of earning them and the ability to transfer them to top-notch partners.
Without a doubt, my most utilized transfer partner is Air Canada Aeroplan. The breadth of airlines within Star Alliance — including Turkish Airlines, which was the carrier I flew for one of my favorite redemptions (a trip from the U.S. to Istanbul for 70,000 miles one-way in business class) — coupled with an award chart with several sweet spots makes the program a no-brainer.
I also love the variety of Avios transfer partners with the Sapphire Reserve. Thanks to British Airways and Qatar Airways both using Avios, I take advantage of my linked accounts to transfer Avios. This helps me fly Qatar Airways’ impressive Qsuite between the U.S. and the Middle East for only 75,000 Avios, which would ordinarily cost between $4,000 and $9,000.
On the hotel side, World of Hyatt has arguably some of the best redemption rates, which sweetens the deal on Chase’s great range of transfer partners. With some nightly rates in Europe for Park Hyatt properties costing as much as $1,100, I’ve saved thousands of dollars by booking award nights for 50,000 points a night.
Related: Who are the Chase Ultimate Rewards transfer partners? Everything to know
It offers benefits that are easy to enjoy
Before the card’s refresh, and even now, I find the Chase Sapphire Reserve to be one of the most straightforward credit cards for using benefits. The overwhelming majority of the benefits do not require enrollment, a pain point for Amex cardmembers, and there aren’t a ton of restrictions to worry about.
As mentioned earlier, the card’s new statement credits feel less like a coupon book than those of the Amex Platinum for several reasons. First, the Amex Platinum offers a range of statement credits, from lifestyle to travel, whereas the Sapphire Reserve’s new benefits revolve around travel and entertainment.
For example, the Amex Platinum offers up to $300 credit per calendar year for Equinox and another $300 SoulCycle at-home bike credit (on eligible U.S. memberships and purchases). In my opinion, these statement credits don’t apply to the majority of cardmembers, including myself, as I’ve never had a need for the SoulCycle credit as a cardmember. Enrollment is required for select Amex Platinum benefits.
Other perks on the card are essentially used by cardmembers simply because they’re offered and not because the average person needs that specific benefit.
Related: Some premium cards now require an ‘extreme couponing’ mindset
Flexible travel statement credit
One of the Sapphire Reserve’s most valuable perks is its $300 statement credit for travel purchases, which is easy to use and essentially covers anything that codes as travel. This credit is a top reason I would never cancel my card. I was excited to learn that the refresh kept this valuable statement credit.
Because Chase has a broad view of what qualifies as a travel expense, the Sapphire Reserve’s annual statement credit automatically gets applied to your account for all sorts of travel purchases. For example, I’ve used my $300 statement credit to cover everything from airfare and hotel charges to train tickets, parking meters and even tolls.
Related: How to use the Chase Sapphire Reserve $300 annual travel credit to save on travel
Hefty hotel statement credit
In addition to the card’s generous $300 travel credit, the Sapphire Reserve now comes with an up to $500 annual statement credit for reservations made via The Edit by Chase Travel℠.
This credit is split into two $250 biannual statement credits for prepaid bookings of at least two nights. Compared to Amex Platinum’s $200 annual hotel credit (on prepaid bookings only within the Fine Hotels + Resorts and The Hotel Collection properties; two-night minimum booking required for The Hotel Collection), this statement credit on the Sapphire Reserve is the clear winner.
Despite the credit being biannual and requiring a minimum two-night stay, it still gives cardholders $300 more toward hotels than Amex Platinum. Coupled with the flexible $300 statement credit, if you maximize these perks, you’ll recoup your entire annual fee year after year.
Valuable lifestyle and dining credits
The following statement credits are innovative, challenging the Sapphire Reserve’s biggest rival, the Amex Platinum. These feel more tailored than what the Amex Platinum currently offers and should be fairly simple to redeem.
These benefits include:
- StubHub or Viagogo credit: An up to $300 annual statement credit for concert and event tickets through Dec. 2027 (split into two $150 biannual credits; activation required).
- Dining credit: Up to $300 annual dining credit and primetime reservations at Sapphire Reserve Exclusive Tables through OpenTable (split into two $150 biannual credits automatically applied within the Sapphire Reserve Exclusive Tables program).
- Apple TV+ and Apple Music benefit: Valued up to $250, an Apple TV+ and Apple Music subscription through June 22, 2027 (one-time activation per service is required through chase.com or the Chase Mobile app).
Having complimentary access to lounges streamlines my travel
For me, the ability to access lounges is a great way to pass the time at airports around the world, as it lets me fill up in a comfortable setting for no additional cost. This is especially true when I travel with my family because ordering food for multiple people from an airport restaurant can be a slow, cumbersome process.
While most premium credit cards nowadays include a Priority Pass membership, which is great to have, the latest trend is for card issuers to offer access to their own lounges. Chase has not only joined this trend but has quickly become a strong competitor in this area.
As of March 2025, Chase has eight Sapphire lounges globally, including the recently opened Sapphire Lounge by The Club at PHL in Philadelphia. With two more openings already in the pipeline, Chase’s rapidly growing lounge presence is another reason to keep the card open.
Historically, I’ve had limited chances to experience Chase’s Sapphire lounges outside of a recent trip to Hong Kong since I’m based on the West Coast. But with a new opening at San Diego International Airport (SAN) and another planned for Los Angeles International Airport (LAX), I’m looking forward to maximizing this benefit more — with two complimentary guests in tow — on future trips.
Related: How to choose a credit card for airport lounge access
Bottom line
As a happy Sapphire Reserve cardholder for nearly a decade, I don’t see myself downgrading or canceling my card anytime soon, even after the refresh and annual fee increase. The flexible annual travel statement credit, new easy-to-redeem statement credits, impressive roster of transfer partners and growing Sapphire lounge network keep the card a must-have for my wallet, even with its $795 annual fee.
For more information, see our full review of the Chase Sapphire Reserve.
Apply here: Chase Sapphire Reserve
For rates and fees of the Amex Platinum, click here.
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
