Chase Sapphire Reserve Visa

Chase Sapphire Reserve Visa Review

This is a rewards credit card issued by Chase Bank. If you're wondering whether Chase Sapphire Reserve is the right card for you, read on.

Key Takeaways

• Generous reward rate. You can get a rewards rate of up to 3 reward points per dollar spent.
• Signup bonus. Offers a signup bonus of 60000 points after spending $4,000 within 3 months that can be redeemed for travel, gifts, or other perks.
• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR that ranges from 21.24% up to 28.24%.
• 5% Balance transfer fee. Chase Sapphire Reserve Visa charges a fee of 5% on balance transfers. For example, a balance of $1,000 could cost $50 in transfer fees. The minimum fee is $5.
• No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry when traveling abroad.
• Airport Lounge Access. Benefits like airport lounge access can add luxury to your travel experience.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, airline credit, access to a concierge, emergency support, extended warranty protection on purchases, identity theft protection, purchase protection, travel accident insurance, travel assistance, trip cancellation insurance, and fraud protection.
• Good or better credit required. You will have low approval odds if your credit score is below 700.

Pros & Cons of Chase Sapphire Reserve

The Good

The Bad

Multiple credit card perks. Airline Credit. Offers auto rental collision damage waiver. Access to a concierge. Extended warranty on purchases. Free access to your credit score. Global Entry/TSA Pre✓®. Identity Theft Protection. Travel accident and travel assistance insurance. Trip cancellation insurance. No foreign transaction fee. Cardholders can earn rewards on their purchases. Chase Sapphire Reserve Visa reports to multiple credit bureaus.

Higher than average purchase APRs. You need good credit to qualify. Charges an annual fee of $550 Charges a 5% balance transfer fee.

Chase Sapphire Reserve FAQ

Does Chase Sapphire Reserve have a cash back or rewards program?

Chase Sapphire Reserve is a travel rewards card.

Chase Sapphire Reserve Rewards

Minimum rewards rate	1x
Max rewards rate	3x
Annual rewards limit	N/A
Signup Bonus ($)	N/A
Signup Bonus (Points/Miles)	60000
Signup Bonus Spend Requirement	$4000
Signup Bonus Spend Period (months)	3 months
Annual Loyalty Bonus	$300

What are the Chase Sapphire Reserve benefits?

It provides the following benefits:

• Free Credit Score
• Auto Rental Collision Damage Waiver
• Emergency Support
• Extended Warranty Protection
• Trip Cancellation Insurance
• Zero fraud liability
• Travel Accident Insurance
• No blackout dates when redeeming miles
• Travel Assistance
• Reports to major credit bureaus

What are the relevant APRs for Chase Sapphire Reserve?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has higher than average regular APRs.

Chase Sapphire Reserve Visa has a variable purchase APR that ranges from 21.24% up to 28.24%. The card has a variable balance transfer APR that ranges from 21.24% up to 28.24%. It also has a variable cash advance APR of 29.24% . Note that late payments are subject to an APR of 29.99% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

What are the fees for Chase Sapphire Reserve?

The following fees apply:

Chase Sapphire Reserve Fees

Fees	Amount
Annual Fee	$550
Foreign Transaction Fee	0%
Returned Payment Fee	up to $40
Late Payment Fee	up to $40

Does Chase Sapphire Reserve Visa report your account activity to credit bureaus?

Yes, Chase Sapphire Reserve Visa reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Chase Sapphire Reserve

• Visit the Chase Sapphire Reserve website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.