Even if you are not travelling much at this pandemic time, you still may want to obtain a travel credit card like Chase Sapphire Reserve. This premium card helps you to accumulate miles, cash back, statement credits and points for hotel stays, car rentals and flights in the future.
Exploring the best travel credit card really depends on just a few uncomplicated questions of points and miles strategy.
- Which credit card earns the maximum points on categories you buy as basic necessities of life?
- What credit card earns flexible points that may be put to best use across different categories?
- And, which credit card perks will save time, money and give hassle free experience when traveling?
Chase Sapphire Reserve is the best travel card for hardcore travelers and casual vacationers. It is a great card with a lot of perks for travelers and accumulates bonus points on various categories of purchases. Additionally, you have the flexibility to transfer rewards points to partners, be it airline or hotel partners.
Let’s take a look at all Chase Sapphire Reserve rewards or benefits and learn how to put them to best use
Chase Sapphire Reserve Sign Up Bonus points and travel credits
The Chase Sapphire Reserve currently offers new applicants a decent sign up bonus of 50,000 Chase Ultimate Rewards after spending $4K on the credit card in the first 3 months. Those Ultimate Rewards points are worth $750 (1.5 cpp) towards travel when redeeming directly through the Chase travel portal.
These sign up bonus Chase Ultimate Rewards points can be put to best use by reading the rest of the content.
Chase Sapphire Reserve $300 Travel Credit
JP Morgan Chase charges a hefty $550 annual fee, which may make you think twice while seeing for the first time. However, JPM Chase is reducing it to $450 for customers who are up for renewal fee between between April and July 2020. As a result, they pay $550 first and then get $100 statement credit upon anniversary.
For every card member year, card holders receive $300 in statement credit for travel charges to their card. Yes, this takes some sting from the hefty annual fee.
You will get this $300 travel credit automatically and you don’t need to register anywhere. Once your credit card statement date cuts, if you spend money on travel Just start spending money on travel. Any travel spend up to $300 including Uber, subway, transit buses, flights and hotels will come back as statement credit.
Finally, it does not matter when you do this travel spend. I don’t like to leave money on the table anywhere. I’ll try to get what’s mine as soon as possible. My travel spend is structured in a way that once $550 annual fee hits, then the next month $300 travel spend at least comes as a respite.
How To Get More From Chase Sapphire Reserve Card?
Chase Sapphire Reserve card holders earn Ultimate Rewards points at the end of every statement. You can use Chase Ultimate Rewards in a lot of ways.
If you book directly through Chase Travel Portal, then your points amount to 1.5 cents per point for travel spend. Chase Travel Portal sources deals from Expedia.
For example, if you hold Chase Sapphire Preferred in your wallet, with a $95 annual fee, you only get 1.25 cents per point value. Just turn it this way, you are planning to buy a $300 flight ticket and want to book it entirely through points from Chase Sapphire Preferred or Ink Business Preferred, you need 24,000 Ultimate Rewards Points. But, if you have Chase Sapphire Reserve with 1.5 cents per point, you need only 20,000 Ultimate Rewards.
Transfer Points To Partners
However, Chase Ultimate Rewards are flexible rewards that transfers to at least thirteen different major airline and hotel loyalty program including Southwest Rapid Rewards, United Mileage Plus, JetBlue TrueBlue, Marriott Bonvoy, World of Hyatt etc
So, you have a lot of options to make the stay free for you. I have made a few international trips completely free of cost from travel perspective already. With the Covid-19 pandemic, I’m still accumulating points for future travel. Free travel means booking a reward flight trip or reward night at hotel completely with loyalty program points.
With Chase Ultimate Rewards, you can shift points from your Chase card to any partner’s loyalty program and make your free reservations. If you want to get higher cents per point redemption value, you need to look for international business class or first class flight bookings. In case of hotels, you get suites at a very good redemption rate. These are luxuries I will never pay for and will only enjoy through credit card points.
This level of flexibility gives cardholders a lot of choice rather than being stuck with one way of booking their trips. Always choose Flexible rewards earning credit cards over single brand loyalty, you will get much more value.
Get Your Priority Pass Lounge Access
Once you have Chase Sapphire Reserve, you may want to opt in to Priority Pass Select. And, it gives access for card holders and up to 2 guests to around 1.3K airport lounges on the earth. This is one of the best perks of this credit card.
You don’t get it by default. So, you need to activate it.
To activate, go to Chase Ultimate Rewards web site and select the See More section on the top of web page. Then, click “Card Benefits” space, where you have the ability to get your Priority Pass membership. Your card may arrive within 2 to 3 weeks, so keep an eye on your mail.
Use your Global Entry Fee Credit
Chase Sapphire Reserve has really important miscellaneous travel perks which makes it worthwhile for the cost. Firstly, you will get back $100 statement credit if you pay for TSA Pre Check or Global Entry with Chase Sapphire Card. You can get this credit every 4 years.
Frequent travelers will skip the queue and buzz through airports with this feature. Global Entry helps you avoid immigration and customs and airport security.
Only Global Entry can help you fasten your pass through process when entering US from International destinations. TSA Pre Check can help you while flying domestically. I recommend to apply for Global Entry since it gives all TSA Pre Check benefits, while the reverse is not true.
If you already have your Global Entry, you can use it for your spouse or children. The only condition is that fee needs to be paid with Chase Sapphire Reserve card. Just pay the service fee without any registration and Chase will reimburse you in the next few days.
Update Card For Travel And Dining
Chase Sapphire Reserve earns you a generous triplets of Ultimate reward points for each dollar spent on travel and dining purchases.
Just make sure to update CSR card with all travel and dining apps, so you can maximize your Chase Ultimate Rewards accrual.
Combine Points From Other Cards
If you have Sapphire Reserve along with other Ultimate Rewards earning cards, then Chase allows you to pool them together. In this case, the advantage is the potential 1.25 points from Chase Ink Business Preferred and Chase Sapphire Preferred Card turns into a 1.5 cents per point with Chase Sapphire Reserve.
Well, if you don’t have those, but have one of Ink Business Unlimited, Chase Freedom Unlimited, Ink Business Cash or Chase Freedom, the recommendation is to transfer your points to Chase Reserve card.
This can be done by logging into Chase Ultimate Rewards web site and choosing Combine Points option.
After combining, you can do anything. Book on Chase Travel Portal or transfer it to a partner hotel loyalty program or airline frequent flyer program.
Chase Sapphire Reserve Add Authorized User
Chase charges $75 to add authorized user to Chase Sapphire Reserve. On the flip side, Authorized user too earn 3X points on travel and dining, receive amazing travel perks, rental coverage and also a Priority Pass. Don’t just look at the charge, since Priority Pass itself costs more than that.
But, Adding authorized user may not make any sense for you, so understand the cost benefit analysis before venturing in.
Car Rental Primary Insurance
Chase Reserve card has primary car rental collision damage waiver (CDW) coverage. If you use Chase Sapphire Reserve to pay for the auto rental, you’ll be reimbursed for a maximum of $75K. This amount includes both collision damage and theft in the US and international countries.
This premium card has primary insurance coverage and not secondary, unlike in other normal cards. This means, Chase Sapphire Reserve Primary Insurance kicks in even before your personal auto insurance policy.
As a Sapphire Reserve card holder, part of Visa Infinite card benefits, you ought to receive premium benefits. So, you receive Avis Preferred and Emerald Club Exec membership for free. You will also get 20% off on Silvercar rentals cost.
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates