Why I’ll never cancel my Chase Sapphire Reserve

My friend flashed me a new credit card and said, “This is the latest one; it’s a must.” It was September 2016 and my first encounter with the Chase Sapphire Reserve® (see rates and fees). At the time, I only held a cash-back credit card and a cobranded airline credit card, but I took his words to heart. Nearly a decade later, the Chase Sapphire Reserve still holds a special place in my wallet, as it was my first transferable currency credit card.

Several staffers at TPG have the Sapphire Reserve, but many also have the ever-popular Chase Sapphire Preferred® Card (see rates and fees). While there are valid reasons why some people cancel or downgrade their Sapphire Reserve, the idea of getting rid of mine has never crossed my mind.

The value this card has provided me throughout my points and miles journey is immense. Here are all the reasons why I’ll never cancel my Chase Sapphire Reserve.

It has a reasonable annual fee

When I originally applied for the card in 2016, the Sapphire Reserve had a $450 annual fee. At the time, other top-tier cards like The Platinum Card® from American Express and the Citi Prestige® Card (not available for new applicants) had comparable annual fees, but of them all, I found the Reserve’s annual fee to be the easiest to justify given its benefits.

The information for the Citi Prestige has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Despite the Sapphire Reserve’s current annual fee of $550, it is still cheaper than the Amex Platinum’s hefty $695 annual fee (see rates and fees).

I value a credit card’s annual fee in relation to its benefits, and, thankfully, the Sapphire Reserve avoids coupon-book-style statement credits that require some effort to maximize, making you feel as if your annual fee investment is worth it.

The $395 annual fee attached to the Capital One Venture X Rewards Credit Card has made that card a true competitor of the Sapphire Reserve, but the restriction on its travel credit can be a point of contention and another reason the Sapphire Reserve is a winner for me.

Related: Are premium credit cards worth the annual fee?

The transfer partners are extremely useful

The Chase Sapphire Reserve has several airline and hotel partners, including many across the three airline alliances (Oneworld, SkyTeam and Star Alliance), plus domestic programs like Southwest Rapid Rewards. The latter has been particularly valuable when traveling in the U.S., saving me thousands of dollars on last-minute bookings. I’ve been able to secure one-way airfare using my Southwest points for as little as 6,000 points between John Wayne Airport (SNA) and Denver International Airport (DEN).

Based on my spending habits, the Sapphire Reserve helps me accrue points faster than the Sapphire Preferred — another Chase Ultimate Rewards-earning option — and has the same transfer partners. As a result, in 2024 alone, I redeemed over 300,000 Chase Ultimate Rewards points, thanks to the ease of earning them and the ability to transfer them to top-notch partners. 

Without a doubt, my most utilized transfer partner is Air Canada Aeroplan. The breadth of airlines within Star Alliance — including Turkish Airlines, which was the carrier I flew for one of my favorite redemptions (a trip from the U.S. to Istanbul for 70,000 miles one-way in business class) — coupled with an award chart with several sweet spots makes the program a no-brainer.

I also love the variety of Avios transfer partners with the Sapphire Reserve. Thanks to British Airways and Qatar Airways both using Avios, I take advantage of my linked accounts to transfer Avios. This helps me fly Qatar Airways’ impressive Qsuite between the U.S. and the Middle East for only 75,000 Avios, which would ordinarily cost somewhere between $4,000-$9,000.

On the hotel side, World of Hyatt has arguably some of the best redemption rates, which sweetens the deal on Chase’s great range of transfer partners. With some nightly rates in Europe for Park Hyatt properties costing as much as $1,100, I’ve saved thousands of dollars by booking award nights for 50,000 points a night.

Related: Who are the Chase Ultimate Rewards transfer partners? Everything to know

It offers benefits that are easy to enjoy

I find the Chase Sapphire Reserve to be one of the most straightforward credit cards for using benefits. There’s no need to enroll to take advantage of your benefits, a pain point for Amex cardmembers, and there aren’t a ton of restrictions to worry about.

Flexible travel statement credit

The Sapphire Reserve‘s most valuable perk is possibly its $300 statement credit for travel purchases, which is widely and easily accessible, making it a top reason I would never cancel my card.

Because Chase has a broad view of what qualifies as a travel expense, the Sapphire Reserve’s annual statement credit automatically gets applied to your account for all sorts of travel purchases. For example, I’ve used my $300 statement credit to cover everything from airfare and hotel charges to train tickets, parking meters and even tolls.

Related: How to use the Chase Sapphire Reserve $300 annual travel credit to save on travel

DoorDash statement credits

As a Sapphire Reserve cardholder, I receive a complimentary DoorDash DashPass membership. Plus up to $25 in monthly credits toward DoorDash orders through a combination of $5 credit for restaurant orders and two, separate, up to $10 discounts on non-restaurant orders.

When I’m looking for a quick bite to eat on a busy day or need some last-minute grocery items, the DoorDash credits have come in handy. They’re simple to use and only require adding the Sapphire Reserve as a payment option in DoorDash’s mobile app.

By charging at least $25 of DoorDash orders I’m already making to my Sapphire Reserve each month, I’m able to save a minimum of $300 a year in food expenses.

Having complimentary access to lounges streamlines my travel

For me, the ability to access lounges is a great way to pass the time at airports around the world, as it lets me fill up in a comfortable setting for no additional cost. This is especially true when I travel with my family because ordering food for multiple people from an airport restaurant can be a slow, cumbersome process.

While most premium credit cards nowadays include a Priority Pass membership, which is great to have, the latest trend is for card issuers to offer access to their own lounges. Chase has not only joined this trend but has quickly become a strong competitor in this area.

As of March 2025, Chase has eight Sapphire lounges globally, including the recently opened Sapphire Lounge by The Club at PHL in Philadelphia. With two more openings already in the pipeline, Chase’s rapidly growing lounge presence is another reason to keep the card open.

Historically, I’ve had limited chances to experience Chase’s Sapphire lounges outside of a recent trip to Hong Kong since I’m based on the West Coast. But with a new opening at San Diego International Airport (SAN) and another planned for Los Angeles International Airport (LAX), I’m looking forward to maximizing this benefit more — with two complimentary guests in tow — on future trips.

Related: How to choose a credit card for airport lounge access