I'm keeping my Chase Sapphire Reserve despite its $795 annual fee. Here's why
Editor's Note
The Chase Sapphire Reserve® (see rates and fees) refresh that launched in late June featured several new perks, credits and an eye-watering $795 annual fee that will make it one of the priciest premium travel rewards cards on the market.
Still, this development hasn't deterred me from keeping the card in my wallet for at least the next year.
Currently, new applicants can earn a welcome bonus of 125,000 points after spending $6,000 in the first three months from account opening.
Here's why the Sapphire Reserve continues to be a value-add to my wallet, plus what you should consider if you currently hold the card or want to apply.
Related: The complete guide to Chase Ultimate Rewards: How to earn, redeem and transfer points
New credits on the Chase Sapphire Reserve
One of the top factors I consider before applying for a new credit card or renewing the annual fee on an existing one is whether the statement credits make sense for my specific lifestyle, spending behaviors and travel needs.
I pay for several subscriptions monthly, but the one I use daily is Apple Music. I was thrilled to see that the refreshed Sapphire Reserve is offering up to $250 annually in subscriptions for Apple TV+ and Apple Music through June 22, 2027.
Another new addition to Sapphire Reserve's benefits lineup is a $300 annual StubHub.
Cardholders get up to $150 in statement credits from January through June and again from July through December for a maximum of $300 annually through Dec. 31, 2027 (activation is required). This is an especially exciting prospect for me since going to shows is one of my favorite pastimes. In fact, I've booked cross-country trips to see my favorite band, Milky Chance, more than once.
Then there's the new annual $500 The Edit by Chase Travel credit that I can't wait to use. The $500 is split up into two $250 biannual statement credits to be used between January and June, and then again from July through December for prepaid bookings. Note that a two-night minimum is required.
The Edit is Chase's curated collection of properties exclusive to Sapphire Reserve cardholders. When you book a stay via The Edit, you get complimentary perks, including daily breakfast for two, room upgrades as they're available and a $100 property credit you can use for things like dining and spa services.
In June, I stayed at The Fifth Avenue Hotel, a New York property within The Edit collection, and am looking for any excuse to go back. Everything from the cozy comfort of my room and the incredibly attentive staff to the perfectly mixed cocktails at The Portrait Bar and breakfast at Cafe Carmellini truly made it a world-class experience.
The annual $500 The Edit statement credit will shave at least $250 off my next stay.
The Apple Music, StubHub and The Edit credits — along with existing credits that the Sapphire Reserve is keeping, like the $300 annual travel credit — are well-suited to my lifestyle and travel needs. Since I know I'll use them, these perks offset the card's big annual fee, making it a valuable product for me to keep in my wallet rather than cancelling or downgrading.
Related: Chase Sapphire Reserve statement credits: What they are and how to use them
Familiar Chase Sapphire Reserve credits
As mentioned above, the Sapphire Reserve is keeping its flexible $300 travel credit. Because Chase broadly defines "travel," this credit automatically applies to a number of purchases, including ride-hailing services like Uber and Lyft, cruise lines, Airbnb rentals and subway fares.
This travel credit is one of my favorite perks offered by any card because I can use it in full if I want to, and it applies automatically. Earlier this year, I was able to use the credit for a long weekend in Puerto Rico, where my partner and I stayed at a lovely Airbnb less than a five-minute walk from the beach for only $88 out of pocket.
The travel credit is designed to be simple and straightforward to use, which I appreciate. It's one less thing I have to actively think about and track on a monthly, quarterly or annual basis.
The $120 Global Entry, TSA PreCheck or Nexus statement credit you get every four years as a Chase Sapphire Reserve cardmember is another returning credit that I'll continue to maximize.
Related: Monthly checklist: Credit card perks and benefits you should be using
Sapphire Reserve benefits suited to my lifestyle
Chase is making waves in the airport lounge space with its collection of Chase Sapphire Lounge by The Club locations. Lucky for me, one of these lounges opened at one of my home airports, Philadelphia International Airport (PHL), in February 2025.
As a Sapphire Reserve cardholder, I receive access to this lounge and get to bring up to two guests with me to relax and enjoy a drink, snacks, a meal and even a facial before a flight.
And if your travels take you to an IHG property, the Sapphire Reserve now confers IHG One Rewards Platinum Elite status automatically through Dec. 31, 2027.
This is one step down from IHG's top-tier Diamond Elite status through Dec. 31, 2027. Though it may not move to needle for some, I see it as a nice bonus perk that'll elevate my stays at IHG properties thanks to offerings like a welcome amenity at check-in, complimentary room upgrades (if available) and early check-in and late checkout (if available).
Related: IHG elite status: What it is and how to earn it
One important note for existing Sapphire Reserve cardholders like me: We will not get access to the new benefits outlined in this guide until Oct. 26. New applicants, however, will receive immediate access to the new benefits.
Importantly, the new $795 annual fee will kick in for existing cardholders during the upcoming cardmember anniversary. Mine, for example, is in early January; so while I paid the $550 annual fee in January 2025, I'll be paying the $795 annual fee in January 2026.
Even though I won't get access to the upgraded perks on the Sapphire Reserve until late October, I like that I'll have a couple of months to test drive the card's new benefits before the new annual fee kicks in.
New Chase Sapphire Reserve earning rates
Finally, the Sapphire Reserve earns one of the most valuable reward currencies on the market: Chase Ultimate Rewards points, which TPG's August 2025 valuations peg at 2.05 cents apiece. This earning power, coupled with Chase's stellar transfer partners, makes the card that much more valuable.
As part of the revamp, Chase updated the Sapphire Reserve's bonus category earning rates. The biggest changes fall under the travel umbrella (think: hotels, rental cars and flights), while dining purchases remain at a solid earning rate of 3 points per dollar spent.
While some categories benefited from elevated reward rates, others took a hit and moved in the opposite direction. Here's a summary of the changes:
| Category | Previous reward rate | New reward rate |
|---|---|---|
| Hotels booked via Chase Travel | Was: 10 points per dollar spent | Is now: 8 points per dollar spent |
| Rental cars booked via Chase Travel | Was: 10 points per dollar spent | Is now: 8 points per dollar spent |
| Flights booked via Chase Travel | Was: 5 points per dollar spent | Is now: 8 points per dollar spent |
| Flights booked directly | Was: 3 points per dollar spent | Is now: 4 points per dollar spent |
| Hotels booked directly | Was: 3 points per dollar spent | Is now: 4 points per dollar spent |
| All other travel (including cruises, vacation rentals and transit purchases) | Was: 3 points per dollar spent | Is now: 1 point per dollar spent |
For me, the new rates aren't a make-or-break situation since I don't usually use Chase Travel for my reservations. The one type of reservation I do occasionally make through Chase Travel happens to be international flights, which now earn a healthy 8 points per dollar spent.
Since I more often reserve flights and lodging outside of Chase Travel, the new 4 points per dollar spent in these specific categories is a nice boost for my personal reward-earning strategy.
Related: How much are Chase Ultimate Rewards points worth?
Bottom line
Being a Sapphire Reserve cardholder now costs an additional $245, but when maximized, the card's new credits more than offset the $795 annual fee ... and that's before you factor in other benefits like lounge access. At present, this card's value still outweighs its cost, so it will continue to be a mainstay in my wallet.
To decide whether this is the right card for you, crunch the numbers to see if your spending habits and lifestyle needs will yield outsize value from its updated credits and perks. If you can get more than $795 in value from the card, it's worth getting and keeping.
To learn more, check out our full review of the Chase Sapphire Reserve.
Apply here: Chase Sapphire Reserve
TPG featured card
Rewards
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro offer
Annual Fee
Recommended Credit
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits.Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
Rewards Rate
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro Offer
You may be eligible for as high as 100,000 Membership Rewards® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.As High As 100,000 points. Find Out Your Offer.Annual Fee
$325Recommended Credit
Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.Excellent to Good
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits.Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.