Sapphire Reserve Review 2026
Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
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Your card estimate
Net first-year value
First year
+$505
Rewards + bonus - fee - interest drag
Ongoing year
-$495
Excludes one-time welcome offer
SwitchWize take
Rewards credit card
Bonus value
$1,000
Rewards
1x points
Annual fee
$795
APR
19.49%-29.99%
Quick summary
What this card is, in plain words
Sapphire Reserve has a $795 annual fee and a variable purchase APR of 19.74% to 28.24%. It earns 1x miles on everything else, and more on 5 categories (the highest is 8x miles on Chase travel).
What to consider
- The $795 annual fee is charged every year, so the rewards have to be worth more than that.
- The APR is 19.74% to 28.24% and it can change. Interest on a carried balance is usually larger than the rewards.
Pros & cons
- Sign-up bonus worth $1,000
- Annual fee: $795
Derived from the current rate, fees, and terms we track for this product. Confirm the latest details on the provider’s site.
Card truth label
Terms that decide whether this card fits
Fees
What this card can cost you
- Annual fee
- $795
- Foreign transaction fee
- Not verified yet
- Balance transfer fee
- Not verified yet
- Cash advance fee
- Not verified yet
- Late payment fee
- Not verified yet
- Authorized user fee
- Not verified yet
Earning rates
What you earn, by purchase type
Chase travel
8x miles
Hotels
4x miles
Airfare
4x miles
Flights booked direct
4x miles
Dining
3x miles
Everything else
1x miles
Fee Reality
What the credits on this card are actually worth
This card advertises $2,598 in annual credits. We scored how hard each credit is to use: signing up, how often it resets, which stores it works at, and how you redeem it. We estimate a typical cardholder realizes about $1,161 (45%) of that value against a $795 annual fee.
Estimated credits exceed the fee by $366/yr
Our verdict: worth keeping — realized value covers the fee.
Confidence grade C — an estimate from our scoring model, not a survey. See how we worked this out.
Points value
What Chase Ultimate Rewards points are actually worth
This card earns Ultimate Rewards points, currently valued at 2.05¢/point based on a sourced editorial estimate — not a marketed "up to" number.
Marketed value. See the full Chase Ultimate Rewards program page or the full valuation methodology.
Reality Score
What this card is really worth, by spend profile
Reality Score compares this card's advertised first-year value against what our model estimates a typical cardholder actually realizes in rewards and credits, net of the annual fee — not a marketing score.
High, diversified spender
Advertised $2,598/yr
Frequent traveler
Advertised $2,598/yr
Typical everyday spender
Advertised $2,598/yr
Light everyday spender
Advertised $2,598/yr
Point value uses a marketed/editorial estimate — no observed or sourced redemption data exists for this program yet.
Reality Score is currently scored for a subset of cards, not the full catalog. See the Reality Score methodology for how this is calculated across spend profiles.
Offer history
How today's bonus compares
Welcome offer needs verification
See terms
Observed Recently
12-month best
See terms
0 tracked observations
Signal
At or near tracked best
Last history update Recently
Terms history
Has the fee or APR changed?
Since tracking began (2026-06-21 00:00:00+00), APR range moved from 19.49%–27.99% to 19.74%–28.24%. Tracked since Jun 21, 2026 across 32 tracked readings — not a signal to act by any deadline, just context on whether today's terms match what was first tracked.
Full change history (5 changes tracked) →
- Oct 4, 2026 — APR range moved from 19.49%–28.24% to 19.74%–28.24%.
- Sep 21, 2026 — APR range moved from 19.49%–29.99% to 19.49%–28.24%.
- Aug 20, 2026 — APR range moved from 19.49%–27.99% to 19.49%–29.99%.
- Jul 10, 2026 — APR range moved from 19.49%–29.99% to 19.49%–27.99%.
- Jul 9, 2026 — APR range moved from 19.49%–27.99% to 19.49%–29.99%.
Best for
- People whose spending matches the rewards structure
- Applicants who can use the welcome offer responsibly
- Cardholders who pay in full
- People comparing net first-year value
Not for
- Carrying a balance long term
- Applying only for a bonus without a payoff plan
- Spending more to earn rewards
- Anyone who cannot meet issuer approval requirements
Decision checks
Apply only if these checks pass
$795 annual fee
19.49%-29.99% variable
Spend requirement: $6,000 in 3 months
Chase terms control approval, pricing, and rewards
How you earn
Caps, exclusions, merchant coding, and redemption values can change the real return. Verify issuer terms before applying.
If you carry a balance, compare payoff cost before rewards. Interest can erase rewards quickly.
The $795 annual fee needs to be offset by rewards, credits, or travel value.
Comparison set
Other cards to compare first
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Questions
Common questions
What is the annual fee for the Sapphire Reserve?
The Sapphire Reserve has a $795 annual fee, according to Chase's page checked Nov 10, 2026.
Which transfer partners does the Sapphire Reserve have?
Ultimate Rewards points can move to 2 partners we have verified: Rapid Rewards points (1 to 1), United MileagePlus miles (1 to 1). The numbers show how many points you give for each point you get.
How do I earn rewards with the Sapphire Reserve?
8x miles on Chase travel; 4x miles on hotels; 4x miles on airfare; 4x miles on flights booked direct; 3x miles on dining.
What is the APR on the Sapphire Reserve?
The purchase APR is 19.74% to 28.24%, and it is variable. Your rate depends on your credit.
Sources
Where these figures come from
Fees and APR, Earning rates
https://creditcards.chase.com/rewards-credit-cards/sapphire/reserve · checked Nov 10, 2026
Earning rates
https://creditcards.chase.com/ · checked Jun 21, 2026
Transfer partners
https://www.chase.com/personal/credit-cards/education/basics/chase-transfer-partners-everything-you-need-to-know · checked Jul 3, 2026
We could not verify the foreign transaction fee, balance transfer fee, cash advance fee, late payment fee, authorized user fee for this card yet, so we do not show a figure.
Bottom line
Is Sapphire Reserve worth it?
Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
Worth it if: People whose spending matches the rewards structure
Skip it if: Carrying a balance long term