I have already entrusted my financial and banking solutions to JPMorgan Chase for years. As the largest bank in the United States, JPMorgan Chase offers excellent financial services in commercial banking, investment banking, private banking, private wealth management, and more.
The banking institution also offers great credit cards to meet customers’ needs. One of its popular credit cards is the Chase Sapphire Reserve credit card, which I have been using for quite a long time.
Discover the features of the Chase Sapphire Reserve credit card and why it is the best card for travelers. In this article, you will also learn how to apply for a Chase Sapphire Reserve credit card online and have the chance to read over the common rates and fees.
Chase Sapphire Reserve Features
As the world’s fifth-largest bank, JPMorgan Chase offers quality banking services and financial solutions. In addition, the bank focuses on continually improving its investment, private banking, asset management, and private wealth management products.
JPMorgan Chase also is the leader in financial transactions processing and asset management, commercial banking, and financial services for consumers and small businesses. In addition, JPMorgan Chase is known for its long list of personal and private banking products.
One of its main products is the wide range of available credit cards to match the needs and lifestyles of different customers. For example, the Chase Sapphire Reserve credit card is dubbed the best card for traveling because of its rewards and benefits.
When I first got my Chase Sapphire Reserve credit card, I was entitled to 60,000 bonus points after spending $4,000 on purchases in the first three months. Plus, these 60,000 bonus points can be converted to roughly $900 in travel expenses through Chase Ultimate Rewards.
Chase Ultimate Rewards
New customers of Chase cards may not know about the Chase Ultimate Rewards. It is a rewards system wherein I can earn at least one point for every dollar I spend with any Chase-branded credit card.
The rewards program lets me earn extra points on purchases in various categories like travel, groceries, and restaurants. For example, the Chase Sapphire Reserve credit card is focused on travel expenses, so there are more points to earn if I use the card for travel expenditures.
Once I have accumulated enough reward points, I can redeem them as gift cards, merchandise, products, vouchers, and much more. In addition, it is possible to use the collected reward points to pay for travel expenses, especially for the services of partners or participating brands.
Chase Sapphire Reserve Pros
When I was deciding if I should get a Chase Sapphire Reserve credit card, I tried to search and list all the advantages of the credit card. Aside from being accredited to the Chase Ultimate Rewards Program, Chase Sapphire Reserve offers several perks and benefits.
The first is the bonus of 60,000 points new cardholders get upon spending $4,000 in the first three months from account opening. However, this applies only to customers who have not had any Sapphire card or received a new card member bonus for any Sapphire card in the past 48 months.
The Chase Sapphire Reserve credit card is the best travel rewards credit card because I have more ways to earn bonus points if I travel. The Chase Ultimate Rewards card lets me earn 5x total points on flights when I purchase travel using the card. The 5x perk is available only after the first $300 purchase on travel annually.
This card also lets me earn 3x points on all other travel worldwide, including all other travel-related expenses, tickets, hotels, and many more. Who would not want to continuously travel with the number of rewards you can receive by merely taking trips worldwide with the Chase Sapphire Reserve credit card?
More Chase Sapphire Reserve Pros
For even more rewards, with Chase Ultimate Rewards, I can earn 10x total points on hotels and car rentals when I purchase them through the card. There is also a 10x total points perk for all Chase Dining purchases.
On top of all the reward points perks, I can still enjoy the basic way of earning points. Chase Sapphire Reserve credit card lets me collect a point per dollar spent on all other purchases made with the card.
More Chase Sapphire Reserve Travel Perks
Proving that the Chase Sapphire Reserve credit card is the best travel card, JPMorgan Chase included more perks for us customers to enjoy. As a Chase Sapphire Reserve cardholder, I can reap the benefits whenever I travel.
For example, I can access over 1,300 airline lounges through a complimentary priority Pass Select Membership. Now I enjoy my trips even more because of the exciting perks of being a Chase Sapphire Reserve cardholder.
In addition, the bank lets me receive an automatic statement credit of up to $300 for all the travel purchases I make with the card. With this perk, I know I will not have a problem with my budget as I can redeem the statement credit of my Chase Sapphire Reserve card.
As another great travel benefit, cardholders will be reimbursed $100 for a Global Entry or TSA PreCheck application. Lastly, the Chase Sapphire Reserve credit card allows me to earn 50% more points when they are redeemed through Chase Travel.
Even More Chase Sapphire Reserve Travel Perks
When I use the Chase Sapphire Reserve credit card, I can choose any participating hotels, airlines, restaurants, or car rentals to earn more rewards. Aside from more rewards, I can also get discounts offered by these brands.
Interestingly, the Chase Sapphire Reserve card has travel protections for all its cardholders. There is primary rental car insurance, trip cancellation insurance, trip interruption insurance, trip delay reimbursement, baggage delay insurance, and travel accident insurance coverage on the Chase Sapphire Reserve credit card.
Chase Sapphire Reserve Fees
Besides the perks and benefits of the Chase Sapphire Reserve credit card, I looked into its fees and rates before applying. I needed to consider the associated fees and rates to see whether or not the card was worth it.
Image Source: Travel CodexCheck the Chase Sapphire Reserve fees, charges, and rates below.
- Annual Membership Fee: $550
- Additional Cardholder Free: $75 per year
- Regular Annual Percentage Rate: 21.49% to 28.49% variable (based on creditworthiness)
- Cash Advance APR: 26.49%
- Penalty APR: 29.99%
- My Chase Plan Fee: 1.72% of the amount of each eligible purchase transaction (charged monthly)
- Balance Transfers Fee: Either $5 or 5% of the amount of each transfer, whichever is greater
- Cash Advances Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
- Late Payment Penalty Fee: up to $40
- Return Payment Fee: up to $40
- Minimum Interest Charge: N/A
- Foreign Transactions Fee: N/A
How to Avoid Penalty and Interests on Purchases
JPMorgan Chase listed ways to avoid paying the penalty and interest on purchases with my Chase Sapphire Reserve card. It first explained when the Penalty APR applies, which is when I fail to make a minimum payment by the date and time it is due.
Meanwhile, the general due date on purchases will be 21 days after the close of each billing cycle. It is important to note that the bank does not charge me interest on new purchases if I pay my entire balance by the due date each month.
Chase Sapphire Reserve Credit Score Eligibility Requirement
Given that the Chase Sapphire Reserve card offers many exciting travel perks, the eligibility requirement is expected to be strict. In addition, Chase is known to have a more stringent approval requirement and process in comparison to other companies.
Before applying, I discovered that I needed to have a credit score of at least 720 to get approved instantly. If I have a credit score below that, the chance becomes slimmer, and the approval usually is not instant.
As such, it is advised to improve your credit score before applying. In addition, some reports suggest that I should have a good banking relationship to boost my odds.
Other Chase Sapphire Reserve Eligibility Requirements
Besides a great credit score, interested individuals must meet the other eligibility requirements for the Chase Sapphire Reserve credit card.
First, applicants must have a prior JPMorgan Chase account. In addition, they must be of legal age and a resident of the United States. It is important that applicants can prove that they have a stable source of income.
Chase Sapphire Reserve Application
There are two ways to apply for a Chase Sapphire Reserve credit card. The first is to visit the nearest JPMorgan Chase branch to apply personally. The second option is to apply through the official website of the bank.
My application became easier after I signed in using my Chase Mobile Banking app account. Those without an account must provide the following: name, birthday, address, Social Security number, address, and email address.
Once I submit all the required information for the application, the bank will call me if I need to provide additional requirements. The result will be emailed, and they will deliver the credit card to my house.
JPMorgan Chase Contact Information and Address
JPMorgan Chase bank is currently headquartered at 270 Park Avenue, New York, NY. However, there are over 5,000 JPMorgan Chase branches in the country and overseas to visit to inquire about the Chase Sapphire Reserve application.
It is also possible to call the bank at 1-212-270-6000 for clarification about the Chase Sapphire Reserve application.
The Chase Sapphire Reserve credit card is a premium travel card because of its exciting perks. Chase Sapphire Reserve cardholders are entitled to travel benefits like lounge access, discounts, rewards, insurance coverage, etc.
Disclaimer: There are risks involved when using credit card products. Always be sure to read the bank’s terms and conditions page for more information.