Is the Chase Sapphire Reserve Worth It?
Chase recently rolled out the Sapphire Reserve for Business, a plush addition to their lineup of business credit cards. Imagine this as the business sibling of the much-adored Chase Sapphire Reserve® Card. Let’s dive deep to see if this card justifies its impressive fee, particularly if airport lounge access tops your perk wish list.
Sapphire Reserve Business Bonus & Fee Basics
This card serves up a gargantuan welcome bonus, loaded perks, and a tempting rewards setup. Let’s kick things off with the welcome bonus and fee.
Welcome Bonus of 200K Ultimate Rewards Points
The Sapphire Reserve Business boasts a massive bonus of 200,000 Ultimate Rewards points for a $30,000 spend in the first six months. Sure, the target spend is steep, but boy, does the bonus pay off. By my math, these points tally up to $3,400 in value.
Card Bonus Eligibility: Tips and Tricks
With this card fresh on the scene, eligibility is high—even if you have other Chase cards. Now, landing a Chase business card isn’t always a cakewalk, but there are strategies to up your odds.
Annual Fees: $795 and $0 for Authorized Users
The card demands $795 annually—up there among pricey business cards—but tossing in authorized users is free. Just keep in mind, only the main cardholder basks in the premium perks like lounge access.
Points Earning Structure
The Sapphire Reserve Business boasts a killer points system with tantalizing bonus categories. Ensure the card aligns with your spending patterns—it can net you up to 8x points per dollar spent.
8x Points on Chase Travel Portal Bookings
Through Chase Travel, you rack up 8x points on flights, hotels, or rental cars. This translates to roughly a 13.6% return, a lucrative proposition for travelers who don’t shun travel portals.
5x Points on Lyft Rides
Chase and Lyft have teamed up, granting you 5x points on Lyft rides until September 30, 2027. That’s an enticing return on your rideshare expenditures.
4x Points on Direct Flight & Hotel Bookings
Book flights and hotels directly, and you’re looking at 4x points. That’s a great return—and with my point valuation, we’re talking a 6.8% cashback scenario here.
3x Points on Select Advertising
This card offers 3x points on social media and search engine advertising, translating into a 5.1% return.
No Foreign Transaction Fees
Use the Sapphire Reserve Business worldwide with no foreign transaction fees. It’s a big win for global spenders, particularly on travel expenses like hotels and airfare.
$120,000 Annual Spending Perks
Spend $120,000 annually and you’re gifted with exciting perks like:
- IHG top-tier status with free breakfast and room upgrades.
- Southwest A-List, bringing perks like priority boarding.
- A $500 Southwest flight credit.
- A $500 shopping credit at select high-end brands.
Points Redemption Options
Transfer Points to Travel Partners
For maximum bang for your points, transfer them to Chase airline or hotel partners. The 1:1 ratio can translate to lavish travel experiences. Be sharp with this strategy to score the best deals.
Redeem Points for Travel
Points can also be cashed in through Chase’s platform for travel expenses at rates of up to two cents each thanks to the Points Boost feature. Booking luxury stays at The Edit by Chase can truly stretch your point value.
Lounges & Perks
This card’s lounge perks are worth a gander, including Priority Pass, giving you worldwide lounge access, and exclusive Chase Sapphire Lounges, especially at prime locations like New York LaGuardia and Boston Logan.
Benefits & Credits
The card throws in serious perks and credits, potentially negating the steep annual fee. But beware—some require a bit more effort to capitalize on:
Up to $500 Annual Hotel Credit
This credit applies to luxury bookings with The Edit by Chase. It’s semi-annual, but tread with caution as hotels can be pricey, potentially reducing the credit’s allure.
Up to $400 ZipRecruiter Credit
An annual credit with ZipRecruiter, split into two parts. Niche, but could be worthwhile for certain cardholders.
Up to $300 Travel Credit
No registration hoops with this one. The travel credit applies automatically, cutting out-of-pocket expenses notably.
Up to $300 DoorDash Credit & DashPass
This ropes in a DashPass membership and monthly credits, though it’s sliced and diced into small denominations.
Up to $200 Google Workspace Credit
A credit with Google Workspace, straightforward in its use, rewarding those who already subscribe.
Up to $100 Giftcards Credit
Seasonally renews and encourages you to snag gift cards that are handy, like $50 DoorDash credits.
Global Entry, NEXUS, or TSA PreCheck Credit
Reimbursed once every four years. Handy for those frequent flyers who want a quicker TSA experience.
Is It Worth It?
So, is the Sapphire Reserve Business worth the hefty fee? Here’s my take: That whopping welcome bonus is huge encouragement to jump in, even if the card’s long-term worth remains uncertain.
Comparison with Sapphire Reserve
Stack the Sapphire Reserve Business against the personal version and you’re looking at similar offerings, like 3x points on dining vs. advertising, to various credits. Your choice boils down to which rewards resonate with you, both cards pack plenty of value.
Comparison with Ink Business Preferred
The Ink Business Preferred trades on a budget-friendly $95 fee while dishing competitive perks. Yet the Sapphire Reserve Business shines when it comes to lounge access and distinct credits. Choose your card according to your personal priorities and spending habits.
Bottom Line
The Sapphire Reserve Business card launches Chase’s repertoire into the league of premium business cards. Despite the lofty $795 fee, it’s cushioned by substantial perks and a potent bonus category structure.
Navigating the landscape to offset that fee becomes a balancing act with various credits. If you’re game, the card is well worth the exploration, particularly with the premium Chase Sapphire Lounge perks available.