Chase Sapphire Reserve Business Card Review: Worth The $795 Fee?

Link: Apply now for the Sapphire Reserve for Business^SM

Recently, we’ve seen the launch of the new Sapphire Reserve for Business^SM, which is Chase’s new premium business credit card. Essentially think of this as being the business version of the Chase Sapphire Reserve® Card (review), which is one of the most popular premium cards out there.

The Sapphire Reserve Business has a high annual fee, but also offers strong perks that will for many people more than help justify that fee. In this post, I want to take an in-depth look at the Sapphire Reserve Business. If you’re willing to put in the effort, this card can absolutely be worth it, especially if you value airport lounge access.

Sapphire Reserve Business bonus & fee basics

The Sapphire Reserve Business has a massive welcome bonus, excellent perks, a lucrative rewards structure, valuable lounge access, and more. Let’s start with the basics, like the welcome bonus and annual fee.

Welcome bonus of 200K Ultimate Rewards points

The Sapphire Reserve Business is offering a huge welcome bonus of 200,000 Ultimate Rewards points after spending $30,000 within the first six months.

While the spending requirement is significant, so is the bonus, so this is a great opportunity for those looking to replenish their balance of Ultimate Rewards points. Personally, I value Ultimate Rewards points at 1.7 cents each, so to me, the points are worth $3,400.

Card bonus eligibility restrictions & credit score tips

Since the Sapphire Reserve Business is brand new, lots of people should be eligible for the card, including the welcome offer. Eligibility for this card is unrelated to having any other Chase card, whether it’s a personal card like the Chase Sapphire Reserve® Card (review), or a business card like the Ink Business Preferred® Credit Card (review).

Cards don’t get much easier than this in terms of being eligible for the offer. That being said, Chase business cards can sometimes be hard to get approved for, though there are ways to maximize your odds of approval.

$795 annual fee annual fee & $0 authorized user fee

The Sapphire Reserve Business has a $795 annual fee, aligning it with the annual fee on the personal version of the card. This is among the highest annual fee business cards out there.

You can add authorized users to the Sapphire Reserve Business at no extra cost. However, note that authorized users don’t receive the same perks as primary cardmembers in terms of lounge access, etc.

Sapphire Reserve Business points earning structure

The Sapphire Reserve Business has a lucrative points earning structure, and offers quite a few bonus categories. Obviously when applying for a credit card, I always recommend getting one with bonus categories that align with your typical spending profile. The card offers up to 8x points per dollar spent, so let’s go over the details of that.

8x points on Chase Travel portal bookings

The Sapphire Reserve Business offers 8x points on all purchases through Chase Travel, which is Chase’s travel portal. This includes spending on flights, hotels, rental cars, and more. While there’s sometimes an opportunity cost to booking this way, I’d consider this to be pretty awesome, since earning 8x points on flight bookings is industry leading.

Since I value Ultimate Rewards points at 1.7 cents each, to me that’s the equivalent of a 13.6% return on travel spending, but only through Chase Travel. I’d consider that to be pretty enticing, assuming you don’t mind booking through a portal.

5x points on Lyft rides

Chase and Lyft have a partnership, and with this, the Sapphire Reserve Business earns 5x points on Lyft rides, valid through September 30, 2027. To me, that’s the equivalent of an 8.5% return on Lyft spending, making this one of the best cards for rideshare spending.

4x points on direct flight & hotel bookings

The Sapphire Reserve Business offers 4x points on flights and hotels that are booked direct. That means if you book a flight directly with an airline or a hotel stay directly with a hotel (rather than through an online travel agency), you get an excellent return on that spending.

Based on my valuation of points, that’s the equivalent of a 6.8% return on that spending.

3x points on select advertising

The Sapphire Reserve Business offers 3x points on social media and search engine advertising. This is a popular spending category for many businesses, and I value that at a 5.1% return.

No foreign transaction fees

The Sapphire Reserve Business has no foreign transaction fees, so this is an excellent card to use for purchases globally, since you can earn valuable rewards while not being stuck with those fees, which are sometimes 3%. This is especially useful for spending in the hotel and airfare categories, since you can earn bonus points while also avoiding foreign transaction fees.

$120,000 annual spending bonus benefits

If you spend $120,000 per calendar year on the Sapphire Reserve Business, you receive a slew of extra benefits, including the following:

• IHG One Rewards Diamond status, which is IHG’s top tier status, offering perks like complimentary breakfast, room upgrades, and more
• Southwest Rapid Rewards A-List status, offering perks ranging from priority seating to free checked bags
• A $500 Southwest credit, for flights booked via Chase Travel
• A $500 Shops at Chase credit, valid for purchases with select brands, including Baccarat, Bang & Olufsen, Breitling, Tumi, and more

Everyone will value these perks differently, but I’d say this has the potential to factor nicely into the overall value proposition of spending on the card.

Sapphire Reserve Business points redemption options

The Sapphire Reserve Business earns Ultimate Rewards points, which I find to be one of the most valuable flexible points currencies. Not only that, but having the Sapphire Reserve Business means that you can potentially redeem your points for more than you could if you had other cards. As I’ll explain below, there are a couple of ways that you can most efficiently redeem your Ultimate Rewards points.

Transfer points to airline & hotel partners

My favorite way to redeem Ultimate Rewards points is to transfer them to one of the Chase Ultimate Rewards airline or hotel partners. Points transfer at a 1:1 ratio, and this is a great option if you want to book aspirational travel, like staying at a five star hotel or redeeming for first or business class travel.

Just make sure you study up on this, and learn the tips & tricks of maximizing points. Below are the Ultimate Rewards transfer partners.

Redeem points for up to two cents each toward travel

You can also redeem Ultimate Rewards points through Chase’s website, for everything from gift cards, to flight and hotel redemptions. Typically, Ultimate Rewards points will get you a minimum of one cent per point of value toward travel redemptions, though thanks to the Points Boost feature, you can sometimes get more value with points than that.

For example, if you have the Sapphire Reserve Business, you can redeem points for two cents each toward The Edit by Chase Travel luxury hotel bookings, and for airfare on select airlines. The exact value you get ranges, with the elevated Points Boost options providing anywhere from 1.25-2.0 cents of value per point. If you can get two cents of value per point, I’d say that’s a pretty great opportunity.

Sapphire Reserve Business lounge access perks

The Sapphire Reserve Business offers excellent airport lounge access perks, including a Priority Pass membership and access to Chase Sapphire Lounges. Note that these benefits only apply for the primary cardmember, and not for authorized users.

Priority Pass membership

The Sapphire Reserve Business offers a Priority Pass membership, which gets you access to the world’s largest collection of independent lounges. Best of all, this membership allows you to take two guests with you at no additional cost.

Priority Pass has 1,300+ airport lounges around the world, so access to these lounges will prove useful to just about any traveler.

Chase Sapphire Lounge access

The Sapphire Reserve Business offers Chase Sapphire Lounge access. These lounges are exceptional, among the best credit card lounges out there, and among the best in the United States. While the lounges in the United States can be accessed once annually for all Priority Pass members, those with a Priority Pass membership through the Sapphire Reserve Business receive unlimited visits annually, with the ability to bring two guests.

This new network of lounges is a huge reason to consider picking up this card, as these lounges really are a treat, especially the ones at New York LaGuardia and Boston Logan.

Sapphire Reserve Business benefits & credits

What really sets the Sapphire Reserve Business apart from other business cards is the strong perks that it offers, including lots of credits. Admittedly there are hoops to jump through, and not everyone will be able to maximize the benefits.

But hopefully for many people, the perks will go a long way to offsetting the annual fee (if they don’t, you might be better off with another card). Some people will even be able to come out ahead with all the credits and benefits. The credits partly overlap with those on the personal version of the card, but there are also some significant differences.

Up to $500 annual hotel credit

The Sapphire Reserve Business offers up to $500 in annual hotel credits. This benefit is specifically valid for hotel bookings with The Edit by Chase Travel, which is Chase’s collection of luxury hotels, where cardmembers can receive extra perks when booking through the program. In order to take advantage of this credit, cardmembers need to book a stay of a minimum of two nights, with the “pay now” feature.

This credit is semi-annual, meaning you can get a $250 credit in January through June, and a $250 credit in July through December. Personally, I wouldn’t value this credit at close to face value, since many hotels belonging to the portfolio are quite expensive. That’s not to say that people won’t get use from this benefit, but I just wouldn’t factor this into the math on the card too much.

Up to $400 annual ZipRecruiter credit

The Sapphire Reserve Business offers up to $400 in annual ZipRecruiter credits. This credit is semi-annual, meaning you can get a $200 credit in January through June, and a $200 credit in July through December. This benefit is currently valid through December 31, 2027.

Obviously this is extremely niche, and I imagine most cardmembers won’t be able to maximize this.

Up to $300 annual travel credit

The Sapphire Reserve Business offers up to $300 in annual travel credits. This credit is easy to use — there’s no registration required, and any purchases that are coded as travel will be reimbursed automatically. This could include flights, rideshares, taxis, train tickets, hotels, and more. You don’t have to use the entire credit in one transaction, but rather, can use it across as many transactions as are needed.

Note that this benefit is based on the anniversary year rather than the calendar year, and you can track your progress with using this benefit on Chase’s website or app. Since I consider this to basically be good as cash, I tend to think this lowers the card’s out of pocket by around $300.

Up to $300 DoorDash credit & DashPass membership

The Sapphire Reserve Business offers benefits with DoorDash. For one, you receive a complimentary DashPass membership, valid for at least one year, if you activate by December 31, 2027. This is a value of up to $120 per year.

With DashPass, you pay a $0 delivery fee when ordering from thousands of restaurants and grocery stores nationwide. Certain minimums apply in order to get the $0 delivery fee. You also receive reduced service fees.

On top of that, the card offers up to $300 in DoorDash credits each year, in the form of up to $25 in monthly credits. However, this is broken down quite a bit — it includes a $5 monthly promo credit to spend on restaurant orders, and two $10 promo credits to spend on groceries, retail, and more.

Personally, I wouldn’t place much value on this in terms of justifying the annual fee, but some people will certainly still save.

Up to $200 annual Google Workspace credit

The Sapphire Reserve Business offers up to $200 in annual Google Workspace credits. This is more straightforward, and the entire credit can be used at once. This applies for qualifying purchases with Google or Workspace.Google.com. This benefit is currently valid through December 31, 2027.

Up to $120 annual Lyft credit

In addition to 5x points on Lyft rides, the Sapphire Reserve Business also offers up to $120 in annual Lyft credits. This credit is monthly, meaning you receive a $10 credit each month. This can be applied toward Lyft rides for Standard, Extra Comfort, XL, Black, or Black SUV ride modes. This benefit is currently valid through September 30, 2027.

Up to $100 annual giftcards.com credit

The Sapphire Reserve Business offers up to $100 in annual giftcards.com credits. Specifically, this applies for purchases of “curated” gift cards from this page. This credit is semi-annual, meaning you can get a $50 credit in January through June, and a $50 credit in July through December. This benefit is currently valid through October 31, 2028.

While small in terms of the total amount, this credit is worth close to face value, if you ask me. For example, you could pick up a $50 DoorDash credit every six months, if you wanted to. You just have to remember to do so.

Global Entry, NEXUS, or TSA PreCheck credit

The Sapphire Reserve Business offers a Global Entry, NEXUS, or TSA PreCheck credit once every four years. Just charge the membership fee to your card, and it will automatically be reimbursed. It doesn’t matter who the fee is being paid for, as long as you charge it to your eligible card.

Is the Sapphire Reserve Business worth it?

The Sapphire Reserve Business is brand new to the market, and there just aren’t very many business cards that are quite this premium. Admittedly the card has a high annual fee, so it won’t be for everyone. How you feel about the personal version of the card is probably very similar to how you feel about the business version of the card.

So, is the card worth it? To start, it’s worth pointing out that the welcome bonus on this card is absolutely massive, and that’s an incentive to pick up this card. Even if you’re not sure if the card is right for you in the long run, you might as well give it a try, given the huge bonus.

What’s my take on the overall value proposition of this card? Obviously you’d primarily want to get the card because of the bonus categories on spending that it offers, and/or because you value the lounge access.

When it comes to trying to recoup that $795 annual fee, here are my thoughts on that:

• I consider the $300 annual travel credit to basically be worth face value, lowering the real out of pocket on this card to $495 per year
• I actually think the $100 annual giftcards.com credit is the next easiest to use, as it basically allows you pick up a useful $50 gift card every six months
• The ZipRecruiter and Google Workspace credits are also a bit more niche, so I imagine that most cardmembers won’t be able to maximize those, but some people will
• The DoorDash and Lyft credits do add up over time (at least as someone who uses both of those frequently), though admittedly the monthly quantities are so small that it’s hard to get too excited
• The Edit by Chase Travel credit could also be valuable, but there’s often an opportunity cost to booking that way, so I wouldn’t factor that too much into my decision of whether to keep the card

Everyone will have a different take as to how rewarding this card is, but the above are my initial thoughts. With that out of the way, let me compare this to the personal version of the card, and also to one of Chase’s other popular business cards.

Sapphire Reserve Business vs. Sapphire Reserve

The Sapphire Reserve Business is obviously based on the Sapphire Reserve, so how do the two cards compare? There’s a lot of overlap between the two products, so let me highlight some of the key differences:

• The Sapphire Reserve offers 3x points on dining, while the Sapphire Reserve Business offers 3x points on select advertising
• The Sapphire Reserve charges $195 per authorized user (and they receive lounge access), while the Sapphire Reserve Business charges $0 per authorized user (but they don’t receive lounge access)
• The Sapphire Reserve offers up to $300 in annual dining credits, up to $300 in annual Stubhub & viagogo credits, and up to $250 in annual Apple TV+ & Apple Music benefits, while the Sapphire Reserve Business offers up to $400 in annual ZipRecruiter credits, up to $200 in annual Google Workspace credits, and up to $100 in annual giftcards.com credits
• The Sapphire Reserve offers Air Canada Lounge access, while the Sapphire Reserve Business doesn’t

The similarities between the cards outnumber the differences, so the best option really depends on what return on spending you value most, and also what credits and benefits you would get the most value out of.

Sapphire Reserve Business vs. Ink Business Preferred

The Ink Business Preferred® Credit Card (review) has a $95 annual fee, and is another popular business card. There are lots of things to love about this card — it has a reasonable annual fee, a generous welcome bonus, and a great rewards structure.

While both cards are rewarding when it comes to earning points, otherwise, these are very different products. The Ink Business Preferred is a great value card, given the combination of the fee and rewards structure. However, the Sapphire Reserve Business is great for offering lounge access and lots of credits that help offset the fee.

Everyone will have to decide for themselves which card makes the most sense. Either could be a good value, and heck, I’d argue that both cards could be worth applying for, as they’re not mutually exclusive.

Bottom line

The Sapphire Reserve Business is Chase’s newly introduced premium business card, built on the basics of the Sapphire Reserve. The card has a steep $795 annual fee, but offers lots of perks, which for many people will help justify the annual fee.

The most valuable perks are lounge access, including a Priority Pass membership and access to Chase Sapphire Lounges. The card also offers a potentially valuable rewards structure, with bonus categories offering 3-8x points in select categories.

The challenge is recouping that $795 annual fee, which is obviously steep. That’s where the credits come into play. This includes everything from a very easy to use $300 travel credit, to more niche credits with ZipRecruiter and Google Workspace, to frequent and small credits with DoorDash and Lyft. Everyone will be in a different boat when it comes to their ability to justify the fee based on those credits.

It’s exciting to see more premium business card options, and I think Chase’s product is certainly competitive.

If you want to learn more about the Sapphire Reserve Business or want to apply, follow this link.