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Though many credit cards with yearly fees cost more than they are worth, I have found that the Chase Sapphire cards, if used correctly, maybe an exception. With yearly fees of $95 (Sapphire Preferred) and $550 😯 (Sapphire Reserve) these cards are definitely costly, but once you factor in the initial bonus points and the benefits the cards provide, the value begins to outweigh the cost. These cards are most useful for those who travel frequently. If you're not a traveler I don't think either of them would provide you with enough value for it to be worthwhile. If you are a traveler, however, the value of the initial bonus points alone (50,000 points after you spend a few thousand dollars in the first few months) makes signing up a no-brainer. With that being said, the initial bonus points are only a small part of what makes these cards great. They also provide the following benefits:
- 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
- 2X points on travel and dining worldwide — 1 point per dollar spent on all other purchases
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
- Complimentary DashPass subscription from DoorDash Get unlimited deliveries with a $0 delivery fee and reduced service fees from thousands of restaurants for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/2021.
- 5X points on Lyft rides Earn a total of 5X points on Lyft rides through March 2022.
- 1:1 point transfer to leading airline and hotel loyalty programs
- No blackout dates or travel restrictions, as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards.
- $0 foreign transaction fees
- VIP access to events and experiences
- 24/7 Direct Access to a Chase Sapphire Customer Service Specialist
- Auto Rental Collision Damage Waiver
- Trip Cancellation / Trip Interruption Insurance
- Travel and Emergency Assistance Services
- Extended Warranty Protection
- Purchase Protection
- $95 annual fee
- 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
- $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year
- 3X points on travel and dining worldwide — 1 point per dollar spent on all other purchases
- Points are worth 50% more when you redeem for travel through Chase Ultimate Rewards®. For example, 50,000 points are worth $750 toward travel.
- Complimentary Priority PassTM Select Membership to 1,000+ airport lounges after an easy, one-time enrollment
- Global Entry or TSA Pre✓® Fee Credit
- Complimentary DashPass subscription from DoorDash and statement credit
- Get unlimited deliveries with a $0 delivery fee and reduced service fees from thousands of restaurants for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/2021.
- Earn up to $120 in statement credits on DoorDash purchases - that's $60 in statement credits through 2020 and another $60 in statement credits through 2021.
- 10X POINTS ON LYFT RIDES
Earn a total of 10X points on Lyft rides through March 2022. That’s 7X points in addition to the 3X points you already earn on travel. - Complimentary Lyft membership
Receive up to 15% off car rides, plus other benefits, such as priority airport pickups, relaxed cancellations, and exclusive saving opportunities with one year of complimentary Lyft Pink, a $199 minimum value, when you or your authorized user activates with a Sapphire Reserve card by March 31, 2022. Lyft Pink will be registered in the name of the cardmember who first activates the benefits. - 1:1 point transfer to leading airline and hotel loyalty programs
- No blackout dates or travel restrictions, as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards.
- $0 foreign transaction fees
- VIP access to events and experiences
- 24/7 Direct Access to a Chase Sapphire Customer Service Specialist
- Auto Rental Collision Damage Waiver
- Trip Cancellation / Trip Interruption Insurance
- Travel and Emergency Assistance Services
- Extended Warranty Protection
- Purchase Protection
- $550 annual fee; $75 for each authorized user
I've had each card at different points (I currently hold the Reserve card) and have saved much more money than I've paid in fees. But, as I've said, the monetary savings are just part of why I love these cards. I've also been able to enjoy many of the perks; my favorites being TSA pre-check, priority pass lounge access, the annual $300 travel credit (Sapphire Reserve only), and trip cancellation/delay insurance (Ms. GGD and I were reimbursed $700 in expenses after we were stranded due to a hurricane). All in all, I think either of the Chase Sapphire cards is a great tool for any traveler to have in his or her wallet.
Apply for your own Chase Sapphire Preferred Card here.
Apply for your own Chase Sapphire Reserve Card here.
