Chase Sapphire Reserve Review
Tl;dr: Great value if you work for it, no longer a lazy gem.
At LazyPoints, we have our lazy side and our points-nerd side. In June 2025, the Chase Sapphire Reserve (CSR) got a major refresh — and flipped from laid-back gem to full-on points-nerd playground.
If you're a middle-class traveler looking for a card with just a few straightforward credits to track, or one that offers easy redemptions with reliable value, the CSR is no longer that card. But if you're up for optimizing credits, bonus categories, and redemption strategies, this updated version might offer more value than ever.
Here’s the full breakdown to help you decide.
Quick ratings
🥇 Great card
💸 Earner
🤓 Points nerd
🛡️ Tavel protections
🔒 Shopping protections
Pros:
$2,000+ in credits can easily cover the annual fee
Excellent bonuses on dining and many travel purchases
Best-in-class protections
Excellent premium perks like lounge access–the only card that will allow you to bring two guests
Cons:
$795 annual fee up front
Many statement credits are on premium purchases that might provide low true value to middle-class customers
Credits, bonus points, and redemptions all fairly complicated
Bonus
Typical: ? (No solid data yet)
Max: 100k + $500 travel credit
I’m writing this right after the updated CSR launched with the massive welcome offer above. It remains to be seen how bonuses will work on the refreshed car. Previously, the standard bonus was 60k points, with occasional spikes to 75-80k, which was the point I generally recommended acquiring the old card.
Remember that the card is subject to Chase’s 5/24 rule. You can have both a Sapphire Preferred and a Sapphire Reserve, but you typically can’t get a second bonus if you previously held the Reserve. However, Chase now has a pop-up tool that will let you know if you’re eligible for a welcome bonus before you apply.
Net fee
Annual fee:
$795
Easy-to-use credits:
$300 travel credit
$120 in Lyft credits ($10 monthly)
$300 in StubHub credits ($150, twice annually)
$300 dining credit at Chase’s premium restaurant network ($150, twice annually)
Other credits (maybe valuable, maybe useless, maybe a trap):
$250 in Apple TV+ and Apple Music subscriptions
$120 DashPass Membership
$300 in DoorDash promos
$120 in Peloton credits.
$120 Global Entry, TSA PreCheck, or NEXUS credit every 4 years.
Some of these credits require activation and/or enrollment, and may be time-limited.
After spending $75,000 in a calendar year:
$500 Southwest Airlines credit
$250 credit for The Shops at Chase.
Typical net annual fee:
Likely more than $0 unless you carefully optimize the credits
With over $2,700 in credits, the benefits of this card could easily outpace the annual fee. However, most can push you into expensive purchases that you might not have made anyway. These might turn out to be nice perks (a $150 concert that you can attend for free but wouldn’t have paid for) or spending traps (making large DoorDash purchases that you otherwise wouldn’t have to snag the credits) rather than true value. But if the credits match your spending, the value could be extraordinary. The card also offers perks like lounge access (see below), which might also offset the annual fee if you’re willing to pay for them.
Earning and points
4x on flights booked directly
4x on hotels booked directly
3x on dining
8x on travel booked through Chase Travel (Chase’s proprietary travel portal)
1x on all other purchases
The earnings on dining, flights, and hotels are just about at the top of the market, although the Amex Gold earns better on dining and the Wells Fargo Autograph Journey earns more points on hotels, albeit with less valuable points. The Capital One Venture X offers 10x points for booking via Capital One Travel, but those points are less valuable than Chase’s as well. The Venture X also offers a much-stronger 2x on all non-bonus spending–for no net annual fee.
Points rating: ⭐⭐⭐ (3/5)
Simple redemption:
Redeem for cash back at 1¢ per point
Redemption bonus:
“Points Boost.” Redeem for select hotels booked via Chase for 1.75¢ per point (2¢ for The Edit hotels). Redeem for select airfare at 1.5¢ per point in economy, 1.75¢ in premium economy, and 2¢ in business and first class. (Note: CSR holders could previously book any travel through Chase’s travel portal and get 1.5¢, allowing them to get that high value on whatever booking fit their needs best.)
These bonuses only apply to certain selected partners, and will change over time, so it is a nice bonus when it applies, but not something you can count on.
Transfer partners (all 1:1):
Hyatt (high value); United, Southwest, JetBlue (easy redemptions, moderate value), Air Canada, British Airways, Emirates, Flying Blue, Iberia, Singapore, Virgin Atlantic (some opportunities for value, especially in premium cabins), IHG, Marriott (generally poor value).
The Chase Sapphire Reserve offers a simple path to guaranteed—but limited—value through its cash-back option, which you can use to pay for any purchases, including travel. The Points Boost option allows for opportunities for significantly greater value, though the selection may be limited and unpredictable. Chase’s transfer partners are largely underwhelming but serviceable, and likely to provide much greater value than the simple cash-back redemption option.
Perks
LaGuardia Sapphire Lounge. Chase.com.
Lounge access including the Sapphire Lounge, Priority Pass, and select Maple Leaf lounges and Air Canada Cafes, including access for two guests
Concierge service and Reserve Travel Designer custom trip planning
Dedicated Chase customer service
After spending $75,000 in a calendar year:
Southwest Airlines A-list status
IHG One Rewards Diamond Elite status
Protections
✅ No foreign transaction fees
✅ Trip Delay Insurance (up to $500 after 6+ hour or overnight delay)
✅ Trip Cancellation/Interruption Insurance
✅ Baggage Insurance
✅ Baggage Delay Insurance
✅ Rental Car Insurance
✅ Purchase Protection
✅ Return Protection
✅ Extended Warranty
🚫 Cell Phone Insurance
✅ Travel Accident Insurance
The CSR also provides travel emergency assistance (legal and medical referrals), emergency evacuation and transportation while traveling, emergency medical and dental coverage (up to $2,500, with a $50 deductible), and roadside assistance.
These are, as far as I can tell, the best collection of purchase and travel protections on the market for standard consumer cards, although cards such as the Amex Platinum and Capital One Venture X offer very similar protections–the latter at much lower cost.
Hacks
Pay your rent with Bilt. You could pay with a Bilt card and earn 1 point per dollar of rent, without any fees. If you use a Sapphire Reserve, you’ll have to pay a 3% fee. But by paying with the CSR, you can earn Bilt and Chase points, and accumulate spend towards the CSR’s $75,000 threshold for additional bonuses. For example, if you pay $4,000 in monthly rent with the CSR via Bilt, that would cost you $1440 in fees. But you would get 48,000 Bilt points, 48,000 Chase points, and–if it helped you reach $75,000 in Reserve spending–the $500 in Southwest Airlines credit, the $250 Shops at Chase credit, plus Southwest A-List and IHG Diamond status.
Gift cards. It may be possible to apply some (e.g. StubHub) toward gift cards to get the credit when it is available and use it later. With the card being so new, there aren’t a lot of data points yet, so start small and attempt at your own risk.
Laziness rating
🦥🦥 (2/5)
The old version of this card was a simplicity dream–no longer, for several reasons:
Credits. You can more than make up for the annual fee in credits, but you’ll have to be careful. Many of the credits are traps that can induce higher spending, either by providing small credits that can’t fully offset a purchase or by nudging you toward more expensive purchases.
Earning: Bonus points are now limited to dining, direct hotel and flight bookings, and Chase Travel purchases. It’s a short bonus list. Easy to remember, but it means that the Reserve will be the best card to use in a pretty limited set of circumstances that you’d want to keep an eye on.
Redemptions: The cash-back option is simple, but not very lucrative. Points Boost offers more value potential — but also more traps, potentially inducing more points spending for more “value” on more expensive hotel and flight redemptions. Chase’s transfer partners also present opportunities for decent value, but most are somewhat complicated to use efficiently.
Alternatives
For similarly premium amenities and protections but at a significantly lower price and much greater simplicity, consider the Capital One Venture X.
For a simpler, lower-cost option within the Chase universe but without the luxury features, look at the Sapphire Preferred.
Partners
Boost your Ultimate Rewards balance by pairing with other Chase cards that earn on other purchase categories, like the 1.5x-everyday Freedom Unlimited or the rotating-5x Freedom Flex.
Not getting points on your rent? Get the Bilt Mastercard.
Lazy Take
Unless you’re already a big spender on premium travel and experiences, the Chase Sapphire Reserve probably isn’t a card you can use casually and still come out ahead. But if you’re willing to plan a little — making sure the credits fit your habits and the points go toward high-value redemptions — the CSR delivers a strong blend of value and perks.
Applying for the CSR and want to support the site? Consider using our referral link to apply (just double-check that it’s the best available offer).
Or just buy me a coffee if this review helped.
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Eat out a lot? Take a look at the Amex Gold and its quadruple points on dining.
Want to see some other top cards? Check out our favorites.