Considering an upgrade to the Chase Sapphire Reserve?

The Chase Sapphire Reserve® is a popular travel credit card that offers a host of premium benefits, making it an attractive option for frequent travellers. Here's a rundown of what you can expect from this card.

Firstly, the Chase Sapphire Reserve® comes with Complimentary IHG One Rewards Platinum Elite Status through Dec. 31, 2027. This status provides a range of benefits when staying at IHG hotels, including room upgrades, extended check-out times, and bonus points on your stays.

The card also offers a plethora of travel benefits. These include Priority Pass Select airport lounge membership, a $300 annual travel credit, TSA PreCheck or Global Entry application fee reimbursement, and more. Additionally, the Chase Sapphire Reserve® has no foreign transaction fees, making it ideal for international travel.

However, it's important to note that the Chase Sapphire Reserve® comes with a $795 annual fee (plus $195 for each authorized user). To offset this cost, the card offers various credits, such as $120 in Lyft credit, available at $10 a month, through Sept. 30, 2027, up to $300 in DoorDash promos, and up to $300 in statement credit for StubHub, in the form of two $150 credits a year through Dec. 31, 2027.

The Chase Sapphire Reserve® also offers stronger travel protections compared to the Chase Sapphire Preferred® Card, including auto rental collision damage waiver and baggage delay insurance.

When it comes to earning points, the Chase Sapphire Reserve® offers 8x points on all travel booked through Chase, 4x points on bookings directly through airline or hotel, 3x points on dining, takeout and eligible delivery worldwide, 3x points on some streaming services, and 3x points for online grocery purchases (exclusions apply).

For those who currently hold the Chase Sapphire Preferred® Card, upgrading to the Chase Sapphire Reserve® is possible after a year of card account opening. This process is referred to as a "product change" by Chase. However, upgrading may result in the loss of the 10% anniversary bonus and certain perks like the $50 hotel credit and bonus points in certain spending categories.

In terms of competition, American Express stands out with the American Express Platinum Card, offering extensive benefits such as 30,000 welcome bonus points, annual travel credit, SIXT ride credit, lounge access, and a comprehensive insurance package. For those considering an upgrade, American Express typically provides attractive welcome bonuses and premium perks through their Platinum and Gold cards, which could serve as upgrade options depending on the user’s needs.

In conclusion, the Chase Sapphire Reserve® is a robust travel card with premium perks, enhanced travel protections, and a range of credits to offset the annual fee. However, it may not be the best fit for all travellers due to the higher annual fee and loss of certain perks. It's essential to weigh the benefits against the costs to determine if the Chase Sapphire Reserve® is the right card for you.