Chase Sapphire Reserve Review: This Travel Credit Card Will Blow Your Mind

Travel credit card on vintage wooden tableChase has outdone themselves again. The bank, the commercial unit of JP Morgan Chase, has long been considered a top player in the credit card game. With help from its investment arm, Chase has been able to secure amazing deals with other financial institutions. Those deals have then been passed on to credit card customers. But last month, the bank released yet another credit card that blew people away.

Tens of Thousand of Applications within the First Two Days

The Chase Sapphire Reserve credit card may be the most popular credit card of all time. Released in late August, the Sapphire Reserve flew off the shelves. Within a week, the bank ran out of cards to issue, saying “tens of thousands of applications” flooded the bank’s credit card unit in just two days. The unprecedented level of popularity this card received has some people asking questions. What does this card have to offer and why is it so popular?

A Travelers Gem

The Chase Sapphire Reserve card is primarily for travelers. First, the signup bonus, a feature of many cards today. Those approved for this card will be rewarded with 100,000 bonus Chase Ultimate Rewards points, which is up to $1,500 worth of airfare, hotels, car rentals and cruises, but only if redeemed through the Chase Ultimate Rewards System. That’s a hefty signup bonus. Additionally, card holders of the Chase Sapphire Reserve are given $300 of annual travel credit to be used to reimburse travel expenses. This benefit is rather unique. It’s essentially $300 worth of free money, so long as you actually travel and spend at least $300 on your trip.

3X Bonus Points on Travel and Dining

This card also offers 3X points on travel and dining purchases across the world, unlike its sister-card the Chase Sapphire Preferred, which offers only 2X points. That’s a major benefit. For each dollar spent towards travel or dining, including airfare, hotels, fine dining and cafes, the cardholder gets 3 points. Combined with the Chase Ultimate Rewards System, the cardholder could end up with some major points saved up in a short period of time. When these points are redeemed through the Chase Ultimate Rewards system, the points go 50 percent further. For example, 100,000 points are worth $1,500 in travel purchases.

The Hefty Annual Fee

Before getting too excited about this card, you should know that it does come with a $450 price tag. That’s the annual fee on this card, which is higher than almost all non-millionaire level credit cards. Currently, there is a debate online surrounding this $450 price tag. Some note that the true annual fee is only $150, because the cardholder is given $300 in annual travel credit. Others argue that the cardholder is not given real cash and the kind of travel purchases the cardholder can redeem are limited.

Additional Features and Benefits

But on top of the annual travel credit, there are also other top tier benefits. There is no transaction fee on the Chase Sapphire Reserve, making it one of the best, if not the best, travel credit card. It also offers a large number of travel and purchase coverage, including up to $10,000 reimbursement for trips canceled due to sickness and extreme weather, $100,000 on emergency medical coverage and $1,000 for retail purchase protection. If you’re interested in this card, you’ll likely need an above average credit score, but not necessarily an excellent score. Additionally, Chase has announced that it will not approve anyone who has received five credit cards or more in the last 24-months.

What do you think about the Chase Sapphire Reserve credit card?

Posted on September 22, 2016 by in Credit Cards,

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