When I applied for my Chase Sapphire Reserve® in April 2018, it was the travel credit card on the market. Since then, I have certainly made the most of its travel-related benefits, which include:
- $300 annual travel credit
- 3X points on dining and travel
- Fee reimbursement for Global Entry or TSA Pre✓®
- Airport lounge access through Priority Pass™ Select
- Strong travel and purchase coverage
Of course, you have to take advantage of all the card offers to make the $550 annual fee worthwhile. That’s been difficult to do during the pandemic, so they’ve brought in new perks, like $120 in statement credits for Peloton memberships and $60 in statement credits for DoorDash food purchases with a free DashPass (normally $10/month).
Side note: sign up for DoorDash with our link and get $10 off each of your first three orders!
My Chase Sapphire Reserve® has treated me very well over the years, offering great coverage on my travels since 2018, like my 3-country girls’ trip and holidays abroad, as well as reimbursing a good chunk of various travel purchases, like our flights to Peru. But now that my annual renewal is coming up with that $550 fee, I had to ask myself: is it worth it?
Iceland 
Scotland 
The Netherlands
The answer? It definitely can be, and historically for me, it has been. However, for me, it isn’t any longer. Since my husband and I are currently at home with a newborn and no big trips planned (at the moment), we aren’t able to take full advantage of the suite of benefits. I currently get 3X points on travel and dining through my Wells Fargo Propel American Express® Card, which has a $0 annual fee, and my TSA Pre✓® is still good for a few years.
So this year, I will be downgrading my Chase Sapphire Reserve® to the Chase Sapphire Preferred®. The Chase Sapphire Preferred® doesn’t offer the same point value (2x on travel and dining), but it does offer compelling travel and purchase coverage and a free DashPass, for an annual fee of $95. At this point, that’s really what I’m looking for.
In the future, I would definitely consider switching back to the Chase Sapphire Reserve®, but with my future travel plans being a little more limited, it doesn’t make sense for me right now. If you’re debating between the Chase Sapphire Reserve® and the Chase Sapphire Preferred®, this chart can help determine which is the best fit for you!