Is the new Chase Sapphire Reserve worth it — and what are some alternatives?

On June 23, 2025, Chase changed the annual fee on the Chase Sapphire Reserve® from $550 to $795. Along with this massive increase in membership costs, Chase also added a bundle of new benefits, bringing the potential annual value of the card, according to Chase, to more than $2,700.

But even with this massive overhaul, is the Chase Sapphire Reserve worth it? Or is it still worth it for existing cardholders?

While over $2,700 of annual value sounds good on paper, we know — thanks to cards like The Platinum Card® from American Express and the Capital One Venture X Rewards Credit Card — that not all premium travel card benefits are the easiest to use. In many cases, trying to use monthly, biannual, or annual credits on largely unnecessary purchases becomes a downright hassle.

Enter the Chase Sapphire Reserve, which follows in the footsteps of the Amex Platinum and its various credits. The variation here is that the credits mostly differ between the two cards.

The way to find out if the new Chase Sapphire Reserve makes sense for you is to:

1. Look over the benefits and credits.

2. Consider your travel and lifestyle preferences.

3. See if numbers 1 and 2 align.

For example, you can get complimentary Apple TV+ and Apple Music subscriptions as a Sapphire Reserve cardholder. If those are services you’d use, that’s an annual value of $250. If not, it’s a worthless benefit for you and won’t add any value to your potential Sapphire Reserve card membership.

You can use the same process with each Sapphire Reserve benefit to determine whether it increases your potential value.

Read our full Chase Sapphire Reserve review

According to Chase, you can get over $1,200 in annual travel value and over $1,500 in annual lifestyle value from the Sapphire Reserve benefits. Let’s take a look at how you might be able to reach these same valuations.

Keep in mind that the card’s welcome offer and rewards rate aren’t included in this analysis. Neither are the no foreign transaction fees, travel insurance, and purchase protection benefits. All of these benefits and features can easily add value on top of what we’re about to discuss.

Related: Best credit card sign-up bonuses and welcome offers: Enjoy boosted first-year credit card rewards

The benefit: Receive up to $300 in statement credits for travel purchases each account anniversary year.

The value: Almost every cardholder should get the full $300 value from this benefit. This is one of the easiest and most flexible travel credits available because you just have to use your card to make travel purchases, and there’s a lot that qualifies as a travel purchase.

The benefit: You can access Priority Pass lounges and Chase Sapphire Lounge by The Club locations for free and bring in two guests for free.

The value: Frequent travelers will get the most use out of this benefit since they have the most opportunities to visit airport lounges. However, the actual value will depend on which airports you use most often, as not every airport has Priority Pass or Chase Sapphire Lounge by The Club locations. This level of Priority Pass Select membership is valued at over $450 annually, but the actual value depends on how often you use it.

The benefit: Get complimentary IHG Platinum Elite status through Dec. 31, 2027.

The value: This benefit only matters if you stay at IHG hotels. There’s no actual value attached to having this status, but you can get value from its perks, such as complimentary room upgrades and late checkout (subject to availability). You can also get this same IHG Platinum Elite status with the IHG One Rewards Premier Credit Card, a hotel credit card with a low $99 annual fee.

Read our full IHG One Rewards Premier review

The benefit: Receive up to $500 in statement credits for stays with The Edit each calendar year. That’s up to $250 from January through June and up to $250 from July through December for prepaid bookings made with The Edit (two-night minimum required).

The value: The Edit is a handpicked collection of hotels and resorts from Chase. Booking through The Edit grants complimentary benefits, including daily breakfast for two, a $100 property credit, and a room upgrade (if available). This benefit likely wouldn’t provide the full $500 value for every cardholder because you can only select from available hotels in certain locations. And not everyone is trying to stay in these types of fancier hotels four nights a year.

Related: See the best hotel credit cards to enhance your hotel stays

The benefit: Access the personalized service of Reserve Travel Designers to build and book a custom travel itinerary.

The value: This complimentary service is valued at up to $300 per trip. Most people likely aren’t going to get that amount of value from this, but we could be wrong.

The benefit: Receive one statement credit of up to $120 every four years for applicable application fees for the listed programs.

The value: This is a value of up to $120, depending on the program you apply for, every four years. If you don’t already have a card that does this for you, it’s a good credit. Global Entry is especially useful because it includes TSA PreCheck.

Related: How to get TSA PreCheck for free with a credit card

The benefit: Get up to $300 annual dining credit each calendar year for dining at restaurants that are part of Sapphire Reserve Exclusive Tables on OpenTable. That’s up to $150 in statement credits from January through June and another $150 from July through December.

The value: If your dining preferences align with this credit, it can be worth up to $300. If they don’t or there aren’t any available Sapphire Reserve Exclusive Tables restaurants in your area (or where you plan to travel), this credit may be harder to use. Keep in mind that the available restaurants tend to lean on the fancy side of dining, including many Michelin-starred locations.

Related: Check out the best credit cards for restaurants

$250 Apple TV+ and Apple Music subscriptions

The benefit: Get complimentary Apple TV+ and Apple Music subscriptions through June 22, 2027.

The value: These services provide a $250 annual value if you use them. At the very least, many people can get value from an Apple TV+ subscription and watching its many award-winning shows.

The benefit: Receive a complimentary DashPass membership for 12 months when you activate by Dec. 31, 2027.

The value: The value of this membership is highly variable, depending on whether you use food delivery services. If you do, it also depends on whether you use DoorDash. We don’t see this membership being as valuable for a lot of cardholders.

The benefit: DashPass members receive up to $25 each month to spend on DoorDash. That’s a $5 monthly promo for restaurant orders and two $10 monthly promos for grocery, retail, and other orders.

The value: Again, if you don’t even use DoorDash, these won’t add any value for you. Otherwise, this could be at least $60 in restaurant orders during the one year you have a complimentary DashPass subscription.

The benefit: Get up to $300 in StubHub statement credits per calendar year. That’s up to $150 in statement credits from January through June and up to $150 from July to December. These are good for StubHub and viagogo purchases through Dec. 31, 2027. Activation is required.

The value: Not everyone goes to sporting, theater, and concert events, but a lot of people do. If nothing else, this could push people to go out and do something fun and out of the ordinary twice per year. We could see a lot of people getting the full $300 value from this benefit.

The benefit: Get up to $10 in monthly in-app Lyft credits through Sept. 30, 2027. Also, earn 5x bonus points on Lyft rides through Sept. 30, 2027.

The value: Not everyone uses ridesharing services and, more specifically, not everyone uses Lyft. Especially every month. This benefit likely won’t provide as much value for a lot of cardmembers.

The benefit: Get up to $10 in statement credits per month on eligible Peloton memberships through Dec. 31, 2027. Activation is required. Also, earn 10x points (on up to $5,000) on eligible Peloton equipment and accessory purchases over $150 through Dec. 31, 2027.

The value: This is a very specific benefit for Peloton users or people interested in a Peloton fitness membership. You don’t actually need Peloton equipment to use some of the Peloton digital memberships, but it’s still a specific benefit that not everyone will use.

The benefits: You can unlock more benefits if you spend $75,000 in a calendar year. You’ll earn the listed benefits for the remainder of the year in which they were earned and through the following calendar year:

• IHG One Rewards Diamond Elite status: This is the highest IHG elite status tier, offering 100% bonus points on eligible purchases, dedicated Diamond support, and free breakfast at participating hotels.

• $250 credit for The Shops at Chase: Receive up to $250 credit for The Shops at Chase, a new online shopping experience where you can purchase items from top brands like Ray-Ban, TUMI, and more.

• $500 Southwest Airlines Chase Travel credit: Receive up to $500 credit for Southwest Airlines purchases made through Chase Travel.

• Southwest Airlines A-List status: Southwest A-List members receive priority boarding, one free checked bag, same-day standby, and more.

The value: Unfortunately, these benefits will be largely unattainable for many prospective cardholders. Spending $75,000 in a calendar year just isn’t feasible for the average consumer.

Yes, it’s more than possible to offset the $795 fee with the many Chase Sapphire Reserve benefits, but whether that actually happens depends on each situation and what benefits you get value from.

For example, let’s say you use these Sapphire Reserve benefits the most:

• Airport lounge access

• Rewards rate

• Transfer partners, including Air Canada Aeroplan, Southwest Airlines Rapid Rewards, and World of Hyatt

• No foreign transaction fees

• Purchase and travel protections

• Combining Chase Ultimate Rewards points between Chase credit cards

• Up to $300 annual travel credit

• Up to $300 annual dining credit at Sapphire Reserve Exclusive Tables restaurants

• Up to $300 annual StubHub credit

That’s $900 in value with the credits alone, without accounting for any of the other benefits. So, really, any other benefit is just added value since you’ve already more than offset the annual fee.

However, that’s just one example, and it won’t apply in every situation. Still, it showcases how some people can easily get more than their money’s worth out of the new Sapphire Reserve benefits after accounting for the annual fee.

• Huge potential value with credits and benefits

• Complimentary airport lounge access for the cardholder and guests

• Excellent purchase and travel protections

• Frequent travelers: Many of the Sapphire Reserve’s primary benefits become more useful the more you travel. This includes complimentary airport lounge access and credit card travel insurance, as well as annual credits.

• People who can utilize the credits: You can get enough value from all the non-credit benefits to offset the annual fee, but it’s a lot easier to justify the cost if you actually use some or all the credits.

• New cardholders: Eligible new cardholders can earn a generous welcome bonus, which only increases the card’s value.

The Sapphire Reserve is a high-annual-fee premium travel credit card with loads of benefits. It’s likely not worth it for you if you prefer a straightforward card with a low annual fee and fewer perks to worry about.

Related: Chase ends 48-month bonus rule for Sapphire cards — are you still eligible for a Chase Sapphire sign-up bonus?

The Sapphire Reserve has plenty of new benefits, but it’s not going to be the right fit for everyone. If it doesn’t make sense for you, check out these alternative travel credit card options.

Why this is a good alternative: The Sapphire Preferred has a $95 annual fee, making it $700 cheaper than the Sapphire Reserve. It’s also a more straightforward option because it doesn’t have loads of different credits and benefits to worry about. This is an excellent low-cost option for any traveler who wants high-quality travel rewards, travel coverage, and purchase protections.

Read our full Chase Sapphire Preferred review

Why this is a good alternative: The Amex Platinum is the traditional competitor of the Sapphire Reserve, especially now that their annual fees have both risen above $700. In many ways, they’re very similar cards, including how their benefits heavily rely on different types of annual credits that you have to use or lose. If the Sapphire Reserve benefits don’t align with your travel and lifestyle preferences, consider the Amex Platinum and its many perks.

Read our full Amex Platinum Card review

Why this is a good alternative: The Capital One Venture X makes sense if you still want premium benefits with a lower price tag. For a significantly lower $395 annual fee, you still get complimentary airport lounge access, though you don’t get free guests starting Feb. 1, 2026.

Read our full Capital One Venture X review

You typically need an excellent credit score to qualify for the Chase Sapphire Reserve, making it harder to get than most rewards credit cards. However, credit card issuers often utilize multiple metrics to determine your eligibility, including your annual income, debt, and credit history.

With a minimum redemption value of 1 cent per point, you would need to earn 79,500 points per year to offset the $795 annual fee. Here’s how much you would need to spend in each category alone to offset the membership cost:

• 8x points on all purchases through Chase Travel: $9,937.50

• 4x points on flights and hotels booked direct: $19,875

• 3x points on dining worldwide: $26,500

• 1x points on all other purchases: $79,500

Note that if you redeem your points for more than 1x redemption value, you wouldn’t need to earn as many points in a year to offset the annual fee. For example, you would only need to earn 39,750 points if you typically get 2x redemption value from your points. That’s much more reasonable, especially if you spread the spending out between multiple categories.

The refreshed Chase Sapphire Reserve is worth it if you’re able to get enough value from its credits and benefits to more than offset the $795 annual fee. It will be difficult for most people to get the full value from all the new credits because they simply won’t align with their travel preferences and spending habits, making them more complicated to use.

However, frequent travelers can get plenty of value from the various travel credits and perks, including complimentary airport lounge access.

This is the new rewards rate for the Chase Sapphire Reserve:

• 8x points on all purchases through Chase Travel

• 4x points on flights and hotels booked directly

• 3x points on dining worldwide

• 1x points on all other purchases

The old Sapphire Reserve rewards rate was:

• 10x points on hotels and car rentals purchased through Chase Travel

• 5x points on airfare purchased through Chase Travel

• 3x points on other travel and dining

• 1x points on all other purchases

A few of the primary benefits the Chase Sapphire Reserve credit card has over the Chase Sapphire Preferred include:

• Complimentary airport lounge access for the cardholder and two guests

• The potential for over $2,700 in annual value from travel and lifestyle benefits

• Higher rewards rate in select bonus categories

• Higher potential redemption value through Chase Travel

• Enhanced travel and protection benefits

That being said, the Sapphire Preferred only has a $95 annual fee, making it a much more affordable option.

Related: Get the most from your cards: How credit card protections work

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