Chase Sapphire Reserve® Review: Is the $795 Annual Fee Worth It in 2026?

When Chase relaunched the Chase Sapphire Reserve® in 2025, the annual fee jumped to $795 and the card turned into a long list of credits. Chase now advertises over $3,000 in potential annual value, but that number only matters if you’d actually use the perks. This is my review of the card: I’m breaking down every single credit, what I think it’s realistically worth, and who I think this card is really for.

TLDR:

• The $795 annual fee is steep, but the $300 travel credit is about as easy as a credit gets, which brings your real cost down to $495
• You get two $250 credits a year for hotel stays booked through The Edit, plus breakfast, a $100 property credit, and upgrades when available (terms apply)
• Unlimited Chase Sapphire Lounge and Priority Pass™ access for you and two guests
• Lifestyle credits for dining, StubHub, DoorDash, Lyft, Peloton, plus Apple TV and Apple Music
• It’s now the only personal Sapphire card that still transfers points to Hyatt at 1:1
• Some of the best built-in travel insurance on any card

The Annual Fee: $795

Let’s start with the big one. The Chase Sapphire Reserve® has a $795 annual fee, plus $195 for each authorized user.

The Reserve is a card built around credits. The value is there, but a lot of it comes in monthly or twice-a-year chunks you have to remember to use. If you’re someone who forgets about credits, keep that in mind as you read through the list below.

The Welcome Bonus

The current public offer is 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.

Chase points are typically worth 1.5 to 2 cents each when you use Points Boost or transfer them to airline and hotel partners, which puts that bonus at roughly $1,500 to $2,000 in travel. That’s close to two full years of the annual fee.

Just know that Chase won’t approve you if you currently have the Reserve open, and you may not get the bonus if you’ve had the card or received its bonus before. Having the Sapphire Preferred® does not disqualify you anymore.

Learn More about the Chase Sapphire Reserve® Card.

Ways to Earn Points on the Sapphire Reserve®

• 8x points on all purchases through Chase Travel, including The Edit
• 4x points on flights booked directly with the airline
• 4x points on hotels booked directly with the hotel
• 3x points on dining worldwide, including takeout and eligible delivery
• 5x points on Lyft rides (through 9/30/2027)
• 10x points on Peloton equipment and accessories over $150 (through 12/31/2027)
• 1x points on everything else

The big change from the old Reserve is that “travel” is no longer a blanket 3x category. You get 4x on flights and hotels booked direct, but things like trains, Ubers, parking, and tolls only earn 1x now. Also, any purchase covered by the $300 travel credit or The Edit credits doesn’t earn points.

Every Credit on the Sapphire Reserve®

Here’s the full list in one place, with how often each one resets and the catch you need to know about.

The $300 Travel Credit

This is the easiest credit on the card and the one I’d count at full value. It applies automatically to basically anything coded as travel, including flights, hotels, rental cars, Ubers, trains, parking, and tolls. No enrollment, no specific merchant. Most people burn through it without even thinking about it.

Once you count it, the card effectively costs $495 a year.

The Edit: Two $250 Hotel Credits Plus Luxury Perks

The Edit is Chase’s collection of luxury hotels and resorts. You get two $250 credits (up to $500) each calendar year, one per prepaid stay (two-night minimum each), and you can use them anytime during the year.

On top of the credit, every Edit booking comes with:

• Daily breakfast for two
• A $100 property credit
• A room upgrade when available
• Early check-in and late check-out when available
• Free Wi-Fi

The catch: these are luxury hotels, so even after the $250 credit you’re usually still paying a premium price. Before booking, compare the Chase Travel rate to booking direct. If you already stay at nicer hotels a couple of times a year, this is real value. If you normally book a $150 Hampton Inn, it’s a lot less useful.

The 2026 Bonus Hotel Credit

For 2026 only, Chase added a one-time $250 credit for prepaid Chase Travel stays at IHG, Montage, Pendry, Omni, Virgin, Minor, and Pan Pacific properties. It ends December 1, 2026, so if you’re getting the card now, there’s not much time left to use it. I wouldn’t factor it into whether the card is worth it.

The Lifestyle Credits

This is where it’s important to be honest with yourself.

• Dining ($300): Only works at restaurants in the Sapphire Reserve Exclusive Tables program on OpenTable. These are mostly higher-end spots in bigger cities. Great if you live near them, harder if you don’t.
• StubHub ($300): Easy if you go to concerts or games. Just remember StubHub prices tend to run higher than buying direct.
• DoorDash ($420 + DashPass): If you already order DoorDash, this is one of the most practical perks on the card. The two $10 non-restaurant promos work on things like groceries and household essentials.
• Lyft ($120) and Peloton ($120): Nice if you already use them. Not a reason to get the card.
• Apple TV and Apple Music ($324): Worth full value only if you’d pay for them anyway. If you already pay, the free subscription pauses your paid one.

Lounge Access for You and Two Guests

This is one of the best parts of the card, especially if you travel with family or friends.

• Chase Sapphire Lounges by The Club, with up to two guests
• Priority Pass™ Select, with 1,300+ lounges worldwide and up to two guests
• Select Air Canada Maple Leaf Lounges and Air Canada Cafés when flying Star Alliance, with one guest

Authorized users get their own Priority Pass too. One tip: Priority Pass requires your physical card or the Priority Pass digital membership card. A card in your phone’s wallet won’t get you in.

Hotel Status and Transfer Partners

IHG One Rewards Platinum Elite

You get complimentary IHG Platinum Elite status through December 31, 2027. You just have to link your IHG account on Chase.com or in the Chase app.

Hyatt Transfers Stay at 1:1

This is a big one. As of October 1, 2026, the Sapphire Preferred® transfers Chase points to Hyatt at 4:3 instead of 1:1. The Chase Sapphire Reserve® still transfers at 1:1. If Hyatt is your go-to redemption, that alone could be a reason to have the Reserve.

Points Boost

When you book through Chase Travel, Points Boost can make your points worth up to 2 cents each on select flights and hotels, compared to 1.5 cents with the Sapphire Preferred®.

The Travel Insurance Is Excellent

This is the part people forget about until something goes wrong. When you pay with the card, you’re covered by:

• Primary rental car coverage up to $75,000 for theft and collision damage
• Trip cancellation and interruption up to $10,000 per person and $20,000 per trip
• Trip delay up to $500 per person for delays over 6 hours or an overnight stay
• Lost luggage up to $3,000 per person
• Baggage delay up to $100 a day for 5 days when bags are delayed over 6 hours
• Emergency evacuation up to $100,000
• Emergency medical and dental up to $2,500 when you’re 100+ miles from home
• Purchase protection for 120 days, up to $10,000 per item
• Return protection and extended warranty
• No foreign transaction fees

Spend $75,000 and Unlock More

If you spend $75,000 on the card in a calendar year, you unlock extra perks for the rest of that year and all of the next:

• World of Hyatt Explorist status
• IHG One Rewards Diamond Elite status
• Southwest Airlines A-List status
• A $500 Southwest Airlines credit through Chase Travel
• A $250 credit for The Shops at Chase

That’s a lot of spending, so I’d only go after it if it fits purchases you’re already making.

My Take on the Sapphire Reserve®

The Reserve is a great card for the right person, but it’s no longer the easy “no-brainer” premium card it used to be.

If you count the $300 travel credit, use both Edit credits each year, actually visit lounges, and you already order DoorDash or buy event tickets, the card can easily give you well over $795 in value.

If you’d have to go out of your way to use most of the credits, you’re really paying $495 a year (after the travel credit) mostly for lounge access and travel insurance. In that case, the Sapphire Preferred® is the better fit.

Final Thoughts

The Chase Sapphire Reserve® rewards people who travel often, stay at nicer hotels, and like luxury perks. It also makes a lot of sense now if you redeem Chase points with Hyatt.

But be honest with yourself about which credits you’d actually use, not which ones look good on paper. That’s the number that decides whether this card is worth it for you.

FAQ

Can I have both the Sapphire Preferred® and the Sapphire Reserve®?

Yes. Chase now lets you hold both. You just can’t get the Reserve if you currently have one open, and you may not get the welcome bonus if you’ve had the Reserve before.

Sapphire Reserve® vs Sapphire Preferred®: which should I get?

The Sapphire Preferred® is still my favorite travel credit card of all time. It has a much lower annual fee, earns transferable Chase points, and is the better starting point for most people. The Reserve makes sense once you travel enough to use the credits and lounges, or if you transfer a lot of points to Hyatt.

Learn More about the Chase Sapphire Preferred® Card.

Do authorized users get lounge access?

Yes. Each authorized user gets their own Priority Pass Select membership with up to two guests. Authorized users cost $195 each per year.

Does the $300 travel credit earn points?

No. The portion of any purchase covered by the $300 travel credit or The Edit credits doesn’t earn points.

Do I have to enroll in the credits?

Some yes, some no. The travel credit, The Edit credits, and the dining credit are automatic. StubHub, Peloton, Apple, DashPass, and IHG status all need to be activated in your Chase account or the partner’s app first, and for the Lyft credit you need to add your Reserve as the payment method in the Lyft app.

taytrox_travel may receive compensation through our partnership with advertisers like nextcard when you click on links to offers on this page. Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain. Terms apply. Credit score ranges are estimates only, and approval is not guaranteed. Offers were valid at time of send on October 11, 2026.