Chase Sapphire Reserve (CSR) Card Benefits

After years of use, I promised friends I would finally share, in detail, why I began using the Chase Sapphire Reserve (CSR) credit card for nearly everything I bought—how it benefited me.

I should note that I don’t act quickly on financial matters. I don’t hurry to take advantage of something just because people say I should. I pause and think things through—a lot.

So I had to think about the Chase Sapphire Reserve credit card for a long time before I knew whether it would be a good fit for my life. After all, it might not be a good fit for everyone.

While soul-searching this topic, I analyzed how I use credit cards for travel and living…

• I only use two credit cards (one to charge everything I purchase, the other as a backup)

• I always want at least one VISA (as not all locations accept Mastercard, AMEX, etc.)

• I never want to pay foreign transaction fees (for traveling/purchasing internationally)

• I charge everything possible to my credit card (travel, lodging, dining, groceries, utilities, etc.)

• I don’t carry a balance (I have a budget; I only charge what I can pay off in full each month)

• I want to earn a lot of points when I sign up for a new credit card—and long after

• I want points that can be used for many things (lodging, airfare, auto rentals, cash, etc.)

• I typically want a credit card with a small—or no—annual fee (however…)

I Didn’t Let the Chase Sapphire Reserve Annual Fee Scare Me

Okay, when I first researched credit cards, I did let the Chase Sapphire Reserve annual fee scare me—but only for a bit.

Back then, the Chase Sapphire Reserve annual fee was $350. No way, I thought. I’d never heard of such a thing.

When I saw that fee, I immediately crossed this card off my list and researched every other credit card I could find. But no other credit card was meeting my needs.

So I decided to look into the Chase Sapphire Reserve annual fee, to (at least) ensure I fully understood it. And that was everything, fully understanding it.

After researching the facts, I could see that the Chase Sapphire Reserve annual fee was almost meaningless at that time, since it provided me with more than $350 in needed annual benefits.

Years later, when I saw my Chase Sapphire Reserve annual fee rise to $550, I did the same thing. I fully researched the annual fee to understand it, to see if I should keep this card.

And, again, after researching the facts, the Chase Sapphire Reserve annual fee was almost meaningless—because this card provided me with more than $550 in needed annual benefits.

But would this continue to be so?

Like all benefits, fine print is involved—and I didn’t need or use every Chase Sapphire Reserve benefit. So I’m just going to share how I interpreted the Chase benefits I did need and use (which could be inaccurate, thus every individual must always verify Chase benefits with Chase directly).

No Foreign Transaction Fees (3% Value)

Since I like spending time away from my home country, I always want a credit card that does not charge foreign transaction fees, which the Chase Sapphire Reserve card was not charging.

This means the purchases I made outside of the US were not subject to foreign transaction fees, which saved me around 3% in fees that would otherwise have been charged to my credit card.

For instance, if my budget was $3,000 a month and I charged everything outside my home country, Chase did not charge me an extra $90/month (or so) in fees.

If my budget was $4,000 a month and I charged everything outside my home country, Chase did not charge me an extra $120/month (or so) in fees.

If my budget was $5,000 a month and I charged everything outside my home country, Chase did not charge me an extra $150/month (or so) in fees.

I notice all the miscellaneous fees we can accidentally find ourselves paying, and I consider each fee a drain on financial stability. I think it’s wise to avoid all fees possible.

The Chase Sapphire Reserve credit card ensured that my credit card statement was never charged foreign transaction fees.

Annual Travel Credit ($300 Value)

I charged at least $300 of the following travel expenses to my Chase Sapphire Reserve credit card annually, which meant I qualified to receive Chase’s Annual Travel Credit benefit. Thus, Chase reimbursed $300 of the following charges to my credit card statement annually…

• airlines

• hotels

• motels

• timeshares

• car rental agencies

• cruise lines

• travel agencies

• discount travel sites

• campgrounds

• operators of passenger trains

• buses

• taxis

• limousines

• ferries

• toll bridges

• highways

• parking lots and garages

• and it’s important I read all the small print, like… “Some merchants that provide transportation and travel-related services are not included in this category; for example, real estate agents, educational merchants arranging travel, in-flight goods and services, on-board cruise line goods and services, sightseeing activities, excursions, tourist attractions, RV and boat rentals, merchants within hotels and airports, public campgrounds and merchants that rent vehicles for the purpose of hauling.”

Chase Sapphire Reserve Points ($900 Value)

If I’m going to earn points, I want to earn a lot of points upfront, plus I want to easily earn points all year long. I also want my points to be as flexible to use as possible.

So I loved that my Chase Sapphire Reserve credit card came with an initial bonus offer of points that were worth up to $900.

I also loved that I earned more than $900 in points annually—just by using my credit card for my everyday travel and living expenses.

I put little thought into this (a more points-savvy person would be more strategic). Whatever points I earned, I earned. But I didn’t think about it. I just charged my entire life to this card.

I still stuck to a budget and only charged what I could pay off in full each month—I did not carry a balance on my credit card. That, to me, is key for financial sustainability.

Here’s how my points would break down—after my $300 Annual Travel Credit was earned…

• 10 points/$1 spent on Chase Dining (through Chase/Ultimate Rewards program)

• 10 points/$1 spent on qualifying hotel + car rentals (through Chase Travel)

• 5 points/$1 spent on airline tickets (through Chase Travel)

• 3 points/$1 spent on dining, takeout, + eligible delivery services

• 3 points/$1 spent on travel

• 1 point/$1 spent on all other purchases

I also loved that my points could be used for many different things. I could use my points for flights, hotels, rental autos, cash back, and more.

Again, I am not a points guru. I rarely understood all the ways I could earn and use points. And I didn’t always redeem my points for their highest value (to make them worth 50% more).

When not traveling, I usually credited the value of my points back to my credit card statement. I chose the credits that made my points worth at least 25% more.

When traveling, I used my points toward my travel plans, booked via Chase—to make my points worth 50% more.

• I only booked travel plans via Chase after I first verified that the Chase offer was better/wiser than any other offer.

• I didn’t book flights via Chase (I didn’t use my Chase points) because I find super affordable flights via Google Flights, Pomelo, or Going.

There was no limit to the points I could earn. My points didn’t expire if my account remained open.

But that was all I knew about how my points worked. And that was okay. Because my points earned far more than my Chase Sapphire Reserve annual fee, making it all a win, I thought.

Purchase Protection ($10k - $50k Value)

As someone who charges my life to my credit card, I wanted the purchase protection that came with my Chase Sapphire Reserve credit card. It helped me feel protected in this world.

While I am as careful as possible with every purchase, our online and automated world means mistakes and fraud will happen. But I no longer felt alone if something went awry.

My CSR purchase protection covered my new purchases for 120 days (damage, theft, accidental parting), up to $10,000 per claim and $50,000 per year, which I thought was huge.

Especially since I placed several orders for items that never arrived or were subpar, with no remedy option. Chase saved me by crediting me back entirely.

I loved this protection.

Roadside Assistance ($100 Value)

When I owned an auto, I paid about $100 annually for quality roadside assistance. When I sold my auto, I still wanted quality roadside assistance to cover borrowed and rented autos.

So when I learned my Chase Sapphire Reserve credit card came with roadside assistance, I was able to cancel my independent $100/year roadside assistance membership.

I felt reassured knowing I had 24/7 roadside assistance in the United States and Canada (up to $50 for each service event, up to four events/year), to handle…

• towing

• jumpstarting

• tire changes (must have a good, inflated spare)

• lockouts (not key replacement)

• standard winching

• fuel delivery (up to 2 gallons covered)

• “not available in areas not regularly traveled … in ‘off-road’ areas not accessible by ordinary towing vehicles…”

Global Entry, TSA PreCheck, NEXUS Credit ($25 Value/year)

When I first received my Chase Sapphire Reserve credit card, Chase would reimburse one Global Entry application fee to my credit card statement every four years (a $100 value).

Later, when I went to renew my Trusted Traveler membership, Chase allowed a Global Entry, TSA PreCheck, or NEXUS fee to be reimbursed to my credit card statement.

I loved this choice. I loved this benefit. This mattered to me.

Priority Pass Select Membership ($469 Value)

My Chase Sapphire Reserve credit card came with a complimentary annual Priority Pass Select membership, which gave me…

• free access to more than 1,300 airport lounges worldwide

• free access to every Chase Sapphire Lounge by The Club location

• the ability to bring my travel partner with me, for free (plus more)

When in airports—during airport lounge operating hours—that membership provided a free place to relax, drink free beverages, and fill up on free food. Some lounges even had showers.

While I’m someone who would normally never pay for that kind of membership, I loved having it. I thought this benefit eased travel fatigue.

How did I know that?

I’ve booked long overnights in airports that I should have better coordinated to occur during airport lounge hours—to enjoy the comforts of the lounge.

Because two can easily consume $50 worth of food and beverages while relaxing in an airport for a few hours, I thought it was wonderful to have this benefit available in a private lounge.

And I have too often found myself in an uncomfortable airport chair with armrests poking into my sides when trying to take a nap. I really wanted the option to bypass that.

I knew I would love this membership even more when (someday) every airport lounge, worldwide, offers free showers. That alone could carry me anywhere.

Emergency Medical and Dental ($2,500 Value)

When I travel, I buy independent travel insurance that covers emergency medical and dental. So why did I love that my Chase Sapphire Reserve credit card also offered that benefit?

They each offered different coverage.

My independently purchased travel insurance gives me substantial emergency medical coverage, but only $750 in emergency dental coverage.

My Chase Sapphire Reserve credit card had a benefit of $2,500 that covered both medical and dental, so I viewed my Chase coverage as my more robust emergency dental coverage.

My Chase Sapphire Reserve coverage kicked in if…

• I was 100 miles or more from home on a trip

• I became sick or accidentally injured while traveling on a covered trip (travel that did not exceed 365 days away from my legal residence to a destination other than my city of residence, when my cost of transportation on a common carrier was charged to my card/rewards programs)

• if my medical emergency required me to be hospitalized and my physician determined I should recover in a hotel immediately after my release, I may have been eligible for an additional benefit of $75 dollars/day for up to 5 days for the cost of a hotel room

Lost Luggage Reimbursement ($3,000 Value)

When I travel, I buy independent travel insurance that covers lost luggage. So why did I love that my Chase Sapphire Reserve credit card offered a lost luggage benefit, too?

You can guess … it’s because they each offered different coverage.

My independently purchased travel insurance provides important emergency medical benefits I want, plus it happens to include $1,000 for lost luggage, their standard offer.

However, that’s not enough to cover the value of my lost luggage (due to loss, damage, or theft).

My Chase Sapphire Reserve credit card had a lost luggage benefit of $3,000, so my Chase Sapphire Reserve credit card offered more robust coverage, which I wanted.

Trip Interruption/Cancellation ($10k - $20k Value)

When I travel, I buy independent travel insurance that covers trip interruption/cancellation. And you can guess why I loved that my Chase Sapphire Reserve credit card offered that benefit, too.

It’s because they each offered different coverage.

My independently purchased travel insurance provides important emergency medical benefits I want, plus it happens to cover up to $2,500 for trip interruption/cancellation.

However, that would not be enough to cover the cost of a more substantial trip.

My Chase Sapphire Reserve credit card had a benefit of up to $10,000 per covered person or up to $20,000 per trip if a loss resulted in cancellation or interruption.

So my Chase Sapphire Reserve credit card offered more robust coverage for more substantial travel (for when I’m not being frugal, let’s say), which is when I wanted this coverage.

The Chase Sapphire Reserve (CSR) Card, Summarized

The Chase Sapphire Reserve credit card saved/earned me at least $2400 a year—and that didn’t include the purchase protection or insurance benefits.

That means the Chase Sapphire Reserve credit card was a great fit for my life. It protected me. It made me money. I didn’t want it any other way.

And, again, the Chase Sapphire Reserve (CSR) credit card offered additional benefits than what I’ve shared here.

However, I find it vital to point out some circumstances that would make me say no to this card…

• if I could not pay off its balance in full each month (I don’t want to pay high interest rates)

• if I didn’t use it to charge my daily life (I want to earn a lot of points and protection)

• if I didn’t receive at least $550 in needed benefits annually (to justify its $550 annual fee)

To me, those are vital reasons to choose a different credit card, because everyone must choose what’s wisest for their situation.

Mostly, I was able to have a worthwhile relationship with my Chase Sapphire Reserve credit card while I had it.

So why have I moved away from the Chase Sapphire Reserve (CSR) credit card? I’ll cover that in a new post soon.