Is the Chase Sapphire Reserve’s $795 Annual Fee Worth It?

There is no sugarcoating it… $795 is a lot to pay for a credit card.

But the Chase Sapphire Reserve® isn’t just any card. With its recent refresh, Chase gave this card a major glow-up. We’re talking over $2,700 in potential value annually, a long list of new perks, and a redesigned metal card to match.

Of course, all of that only matters if you actually use what’s being offered. So let’s take a closer look at what’s new, what’s gone, and how to figure out if the refreshed Sapphire Reserve deserves a spot in your wallet.

Will You Actually Use These Credits?

Let’s get straight to the point. If you’re going to pay $795 each year, you should be getting something in return. The Sapphire Reserve now comes with a ton of lifestyle-focused credits.

Even if you only take advantage of a few of them, the card will easily pay for itself.

Here’s what’s included:

• $300 annual travel credit — applies automatically to just about anything travel-related (flights, hotels, trains, parking, and even tolls) with up to $300 in statement credits for travel purchases (purchases that qualify will not earn points)

• $500 annual “The Edit” hotel credit — book through Chase’s curated hotel program (up to $250 in statement credits from January through June and again from July through December for a maximum of $500 annually for prepaid bookings, two-night minimum)

• $100 property credit for The Edit bookings, with daily breakfast for two, room upgrades (if available) and more

• $300 annual dining credit — applies automatically when you eat at Sapphire Reserve Tables, available through OpenTable (up to $150 in statement credits from January through June and again from July through December for a

  maximum of $300 annually)

• $300 annual StubHub credit and viagogo credit (up to $150 in statement credits from January through June and up to $150 in statement credits from July

  through December for a maximum of $300 annually for StubHub and viagogo purchases — activation required)

• $300 DoorDash value and $120 DashPass membership — delivered as monthly promos in your account and stackable with a DashPass membership (up to $25 in monthly promos, which includes a $5 restaurant promo and

  two $10 promos to spend on groceries, beauty, electronics, and more — activate by 12/31/27)

• $250 annual Apple credit — use it for complimentary Apple Music and Apple TV+ subscriptions (one-time activation required)

• $120 annual Lyft in-app credit — receive $10 per month, plus 5x points on eligible Lyft rides (through 9/30/27)

• $120 annual Peloton credit — use it toward Peloton membership, plus get 10x points on eligible Peloton equipment and accessory purchases over $150 (through 12/31/27 — activation required)

• TSA PreCheck/Global Entry/NEXUS — up to $120 every four years for the application fee

If you maxed all of this out, you’d be looking at over $2,700 in annual value. But even if you only use the travel, dining, and DoorDash credits, you’re already breaking even.

Travel Benefits and Lounge Access

The Sapphire Reserve still comes with access to over 1,300 Priority Pass lounges, but that’s just the start.

You’ll also get:

• Access to Chase Sapphire Lounges (with up to two complimentary guests)

• Entry to Air Canada Maple Leaf Lounges (when flying Star Alliance)

• Personalized travel support via Chase’s Reserve Travel Designers

• Complimentary IHG One Rewards Platinum Elite Status through December 31, 2027 (upgrade to IHG One Rewards Diamond Elite Status after $75K spend)

• Top-tier travel protections, including trip delay, lost baggage, and primary rental car coverage

Better Earnings Rates

Okay, as if you hadn’t already looked at a million perks, we still need to talk points.

The Sapphire Reserve now earns:

• 8x on all Chase Travel purchases, including The Edit, rental cars, cruises, activities, and tours (replacing 5x on flights and 10x on hotels and car rentals)

• 5x on eligible Lyft rides (through 9/30/27)

• 4x on flights and hotels booked directly (replacing 3x on all travel)

• 3x on dining worldwide, including eligible delivery (unchanged)

• 1x on all other purchases

There is a slight catch. As noted above, you no longer get 3x points back on general travel, but you still have the option to earn 8x points through Chase Travel bookings or 4x points on flights and hotels booked directly.

New Way to Redeem Your Points

Chase is replacing the 1.5x value in the portal (for newly earned points) with a new redemption option called Points Boost.

That means that select airline and hotel bookings through Chase Travel will give you up to 2 cents per point, and you’ll see eligible offers directly in the portal. According to Chase, these will mostly be premium economy and business class flights or high-end hotels.

And, you can also use Points + Cash for these redemptions.

Big Spenders Get Bonus Perks

Spend $75,000 in a calendar year, and you’ll unlock:

• IHG One Rewards Diamond Elite Status

• Southwest A-List status and a $500 flight credit when booked through Chase Travel (statement credits applied automatically)

• $250 credit to use at The Shops at Chase (statement credits applied automatically)

While these are nice, let’s be real. That $75K threshold makes these more of a “cherry on top” situation than an actual selling point.

So, Is The Fee Justified?

That answer depends on how much of these credits you’ll actually use. If you travel often, use Lyft, order from DoorDash semi-frequently (guilty 🫠), like a night out (or ten) at restaurants, watch Apple TV+, or listen to Apple Music — then yeah, this card will give you serious value.

But if those credits sit untouched (or you never, ever book travel through Chase), the $795 fee becomes that much harder to justify.

Bottom Line

The Sapphire Reserve isn’t for everyone. But for those of you searching for everyday perks on everyday purchases, it delivers.

From lounge access and trip protections to monthly credits and better redemptions, this card is ready to party with the big boys.

I probably sound like a broken record, but just make sure you’re taking full advantage, or else that $795 fee is doing more harm than good. As someone who carries another high-fee card, The Platinum Card® from American Express, I can confirm that having a card that works for you when traveling is pretty freaking sweet. And, this refresh on the Sapphire Reserve has me highly considering jumping ship over to Chase.