Sapphire credit cards

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Annual Fee

$450
A $300 annual travel credit lowers the effective annual fee to $150

Current Offer

15,000 point referral bonuses are available for the Sapphire Preferred

Typical Signup Offer

50,000 Ultimate Reward points for the Reserve, 60,000 points for the Preferred.

$4,000 initial spend

($670 net value, .17/$)

Signup Bonus Chart

Bonus Categories

3x Travel (≈5.1%)

3x Restaurants (≈5.1%)

1x Everywhere Else (≈1.7%)

No Foreign Transaction Fee

Ultimate Rewards Guide

We recommend that most people use the Sapphire Reserve Card and Freedom Unlimited (or Ink Unlimited) combination, to maximize the rewards they earn on their credit card purchases. The Sapphire Reserve has the highest possible rate for travel and restaurant spending. And when used in conjunction with the Sapphire Reserve (or Sapphire Preferred), one of the Chase Unlimited cards is often the best possible option for your everyday purchases. Get a Great General Purpose Reward Card and Use It for All of Your Spending.

Along with great reward rates, the Sapphire Reserve card provides automatic travel insurance, free access to over 1,000 airport lounges, primary rental car insurance, and other valuable benefits. Which Premium Reward Card is Right for You?

Jump to

• Chase Sapphire Card Options
• Intro to Ultimate Rewards
• Signup Bonus
• Sapphire Reserve Travel Credit
• Other Notable Benefits
• Bonus Categories
• Getting rid of the card

Chase Sapphire Card Options

There are two different Chase Sapphire cards. If you are just interested in the signup bonus, the "Preferred" version is the better option. But, the Reserve version makes a more useful addition to your core credit card collection.

Sapphire Reserve. The premium Sapphire Reserve card has a lot of extra benefits and earns higher reward rates on travel and restaurant spending, but also has a $450 annual fee. However, its $300 automatic travel credit reduces your typical out-of-pocket expense to $150 per year, which is only $55 more than the Sapphire Preferred card. It doesn't take much travel and restaurant spendingm to earn enough additional rewards with the Reserve version, to offset the additional annual cost, and gain access the Sapphire Reserve card's extra benefits.

Sapphire Preferred. The Sapphire Preferred card typically has a higher signup offer of 60,000 points, and just like the Reserve card, unlocks the ability to transfer your Ultimate Reward points to airline and hotel partners. Official Webpage. Signup Bonus Chart. However, once you've accounted for the Sapphire Reserve's travel credit, the Preferred card only costs $55 less per year. Most people would be better off paying a little more to get the Sapphire Reserve's more lucrative reward rates on travel and restaurant spending, and other benefits. Even if the Sapphire Reserve is your better long-term option, if you are planning to collect signup bonuses, you are better off starting with the Sapphire Preferred. Once you start shifting your spending away from meeting initial spending requirements (towards cards with better ongoing reward rates), you can convert it to the Sapphire Reserve.

Introduction to Ultimate Rewards

Ultimate Rewards is the name of Chase's own rewards program. Ultimate Rewards Guide

• Ultimate Rewards points can be transferred to many different frequent flyer and hotel loyalty programs. his gives you the flexibility to take advantage of award space on over a hundred different airlines. In many cases, you can choose to book a flight through one of several different partner programs, allowing you to take advantage of whichever program requires the fewest miles and fees for your trip.
• Unlike the other "transferable" point programs, you can redeem your Ultimate Rewards Points for good value, without needing to hassle with frequent flyer tickets. Ultimate Rewards points can be converted into Hyatt hotel points, which can easily be used for award nights at point values typically over 1.7 cents each. If you have the Sapphire Reserve Card, you can "cash out" your points at 1.5 cents per point. And you can get similar value using your points to purchase Southwest Airline tickets.

While you can still typically get the most value for your points through good-value frequent flyer tickets, you can easily get good value, with much less effort, through these other types of redemptions. And you can sometimes get as much as 3 cents in value on better-than-normal Hyatt redemptions.

• We value Ultimate Reward points at 1.7 cents each. Because you can take advantage of award space and "sweet spots" from many different frequent flyer programs, Ultimate Reward points are worth more than any single type of airline miles. If you highly valuable premium-cabin award tickets, Ultimate Reward points are worth even more. If you want to avoid the hassles associated with frequent flyer tickets, they are worth a little less. How Much are Points Worth?

Even if you use them like cash, the reward rate on any purchase with the Chase Reserve / Chase Unlimited combo is 2.25 cents per dollar, the reward rate on travel and restaurant purchases with the Sapphire Reserve is 4.5 cents per dollar, and the signup bonus for the Sapphire Cards is worth $750.

• The Sapphire Reserve or Sapphire Preferred card makes the Ultimate Reward points you earn from other cards more valuable. Only Sapphire cardholders (and cardholders of the Ink Preferred small business card) can transfer their points to airline and hotel partners. In addition, Sapphire Reserve cardholders get 1.5 cents per point, and Sapphire Preferred (and Ink Preferred) cardholders get 1.25 cents per point, rather than 1 cent per point, when purchasing travel through Chase. These benefits extend to all your Ultimate Reward points, not just to ones earned directly from these cards.

For example, if you have the Chase Sapphire Reserve card, the points you earn from the Freedom Unlimited card can be transferred to airline partners. But, if you don't have one of these cards, the points are only worth 1 cents each (for purchasing travel through Chase).

Collecting the Signup Bonus

• It is worth signing up for this card, just to collect the signup bonus. After subtracting the annual fee and the opportunity cost of using the card for $points of spending, the calculated net value for the initial year is $50000 ( cents per dollar spent). In addition, the card comes with a $300 travel credit. This is one of the most valuable signup offers of any card.

After subtracting the annual fee, and the opportunity cost of using the card for $4,000 of spending, the calculated net value of the sign-up is $670 (17 cents per dollar spent). Your value may be higher or lower, depending on how much you value the Ultimate Reward points. Introduction to 'Transferable' Reward Points.

• You can only have one of the Sapphire cards at a time. You can't sign-up for both the Reserve and Preferred version of the card. You'll need to choose one or the other. Once you've signed up, you aren't eligible to apply for the other card for 48! months. If you've signed up for more than 5 credit cards in the last 24 months, from any bank, you won't be approved for either.
• If you are only interested in the signup bonus, you should get the Sapphire Preferred card. It has a higher signup bonus of 60,000 points, and a lower annual fee of $95.
• It is difficult to collect a signup bonus a 2^nd time, because of the Chase 5/24 rule. You are eligible for a Sapphire card signup bonus, if you haven't already earned the bonus, from one of the Sapphire cards, during the last four years. However, due to the Chase 5/24 rule, if you've been signing up for other cards, you won't be able to get approved, when you reapply. You'll need get under the 5/24 limit, before you can earn one of the bonuses again. Dealing with the Chase 5/24 Rule.
• You can earn signup bonuses from multiple different Chase Ultimate Reward cards. You are limited to only one version of the Chase Sapphire card (every 24 months), but there is also the Ink Preferred, Ink Cash, Ink Unlimited, Freedom, and Freedom Unlimited cards.

Taking Advantage of the Travel Credit (Sapphire Reserve)

The Sapphire Reserve card provides an annual $300 travel credit. Every year you have the card, the first $300 you spend on travel is automatically taken off your credit card bill. This works for a very broad range of "travel" purchases, including airfare and hotels, but also things like cruises, tolls, and parking charges. Unlike the travel credits available on some other cards, everyone should be able to easily take full advantage of the credit.

Initially, the Sapphire Reserve Card's travel credit was issued on a calendar year basis, allowing you to qualify for two credits, during the first year you had the card. For anyone who applies for the card now, the travel credit is issued on a cardholder year basis, meaning you are limited to $300 in credits, each time you pay the annual fee.

Other Notable Benefits

• Airport lounge access. Like the other premium cards, you get free access to over a thousand airport lounges via a free Priority Pass membership. You are limited to two guests. Get Free Airport Lounge Access from a Credit Card.
• Automatic travel insurance. Whenever you purchase travel with your Sapphire Reserve card, you'll get free trip cancellation and interruption insurance, as well as additional coverage for trip delays, bag delays, and lost luggage. The Sapphire Preferred card offers slightly weaker versions of these benefits.
• "Primary" rental car insurance. If you use this card to pay for your rental car, you'll get primary rental car insurance. Unlike the "secondary" insurance you get from most other cards, if you damage your rental car, you don't need to involve your personal auto insurance company. Credit Cards That Provide “Primary” Rental Car Coverage.
• Free roadside assistance. The roadside assistance benefit that comes with most credit cards simply connects you a to nearby service provider. But this card actual pays for your roadside assistance services, including towing, lockout assistance, spare tire installation, jump starts, or emergency fuel. Up to $50 per incident. Get Free or Discounted Roadside Assistance with these Credit Cards.
• Access to Chase's Luxury Hotel and Resort Collection. Along with other Chase cards, you'll get access to Chase's luxury hotel program. When you use the program to book one of the participating hotels, you'll receive a set of valuable benefits, including free breakfast, late check-out, and a hotel-specific amenity (which is typically a $100 hotel, restaurant, or spa credit). Take Advantage of Luxury Hotel Programs for Valuable Extra Perks.
• Car rental elite status. Like all other Visa Infinite cards, your card entitles you to elite status with National car rental. Instant Car Rental Elite Status.
• Visa Infinite Hotel benefit. Visa Infinite cardholders get access to the Visa Luxury Hotel program. At about 200 hotels, Infinite card holders get an additional benefit (typically some sort of $100 credit) on top of what is available to Signature cardholders. You'll also have access to the regular Visa Signature hotel program, which provides slightly weaker benefits at a much larger collection of hotels. Take Advantage of Luxury Hotel Programs for Valuable Extra Perks
• Access to Visa Signature Offers. Your card entitles you to a set of special offers available from Visa.
• Free Shipt membership. Infinite holders can signup for three years of free delivery with this Instacart competitor (normally $99 per year). Signup.
• $100 TSA fee credit. Every four years, you can receive an automatic reimbursement of your Global Entry or TSA PreCheck application fee (up to $100).
• sbe Hotel benefits. You get your fourth night free, continental breakfast, free Wi-Fi, the possibility of an upgrade or late checkout, and a $30 hotel credit towards food, when you pay for one of the small number of sbe hotels (Delano, SLS, Mondrian, etc.) with your Sapphire Reserve card. You'll need to book through a special site. You can probably find lower rates elsewhere, so you'll need to check to see if the benefits are enough to offset any difference in price.

The Sapphire Preferred card doesn't provide airport lounge access or reimbursement for TSA application fees.

Bonus Categories

• The Sapphire Reserve card earns the highest possible rewards on many travel purchases. 3x Ultimate Reward points, valued at 5.1 cents per dollar, is the highest reward rate you can get on most travel purchases, such as with hotels and car rentals. You can earn 5x Membership Rewards on Airfare with the Amex Platinum card or 5x ThankYou points on airfare and online travel agencies with the Citi Prestige card, but neither of those cards comes with free travel insurance. Best Credit Cards for Travel Spending.
• The Sapphire Reserve earns great rewards on restaurant spending. However, if you are comfortable using your points for frequent flyer tickets, you can earn higher rewards with the Citi Prestige or Amex Gold card. Best Credit Cards for Restaurant Spending.
• The Sapphire Preferred card only earns 2x points, rather than 3x points on these categories. As long as you spend more than $3,000 per year on travel and restaurants, the extra rewards from the Sapphire Reserve card more than offset its higher out of pocket expense.
• You don't want to use these cards for your everyday spending. You'll earn higher rewards from a good general-purpose reward card. Get a Great General Purpose Reward Card and Use It for All of Your Spending.

Getting rid of the card

If you still have a significant balance of Ultimate Reward points, make sure you keep at least one Ultimate Rewards credit card (any of the Sapphire, Freedom, or Ink cards), otherwise you will lose you points. You need to have an annual-fee-based card (Sapphire Reserve, Sapphire Preferred, or Ink Preferred) in order to transfer your points to airline and hotel partners.

If you want to stop paying annual fees, you can convert either Sapphire card to the Freedom Flex Card. You'll earn 5x Ultimate Reward points on up to $1,500 per quarter of spending in a rotating set of bonus categories. You can convert to a Freedom card even if you already have one or more, and effectively increase each quarter's spending cap. Then, you can convert back to either of the Sapphire cards at any time, if you need a card that lets you transfer to travel partners.

If you are collecting signup bonuses, try not to cancel any Chase cards. You'll be blocked from reapplying by the 5/24 rule. Convert them to one of the no-annual-fee options (usually the Freedom or Ink Cash card), reduce the credit limit (if you'd like), and hold onto them. That will give you the option of converting them to a different Chase card down the road.

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