Chase, like American Express, has continued to find ways to incentivize its customers to spend on its cards during the pandemic. One way Chase is pulling its levers is with the Pay Yourself Back feature on the Chase Sapphire Reserve. This can be ideal to use for cardmembers this holiday shopping season.
Not only is the Pay Yourself Back feature potentially lucrative this holiday shopping season, but the Chase Sapphire Reserve benefits also include earning bonus points on dining and travel, a Peloton Membership, and annual travel credit.
Holiday Shopping Benefits
Pay Yourself Back
Chase’s Pay Yourself Back feature allows cardmembers to redeem points at 1.5 cents per point as a statement credit through April 30, 2021, when using your card at grocery stores and dining at restaurants (including takeout and eligible delivery services), home improvement stores, and select charitable organizations. Choose an eligible purchase from the past 90 days, and then apply your points towards all of part of the purchase. And just like that, you’ve redeemed points for a statement credit. When compared to the chase sapphire reserve vs preferred Pay Yourself Back feature, you can redeem at 1.5 cents with the chase sapphire reserve and 1.25 cents with the Chase Sapphire Preferred.
Non-Holiday Shopping Benefits
$120 for a Peloton Membership
When my office closed in March of 2020, so did my access to a gym. Ashlee and I started using Orange Theory’s free YouTube workouts daily but couldn’t find our groove. That all changed when Chase offered its Sapphire Reserve cardmembers up to $120 back on eligible Peloton Digital or All-Access Memberships through 12/31/2021. We opted for the Digitial Membership and absolutely love it!
3x Points on Travel and Dining
One of the hallmarks of the Chase Sapphire Reserve is its earning structure. Cardmembers earn 3x points on travel and dining. As a point of comparison, the Amex Green and Citi Premier earn 3x on travel, while the Amex Gold earns 4x on dining.
50% More Value in Travel Rewards
Chase Ultimate Rewards allows you to redeem points at 1.5 cents per point with your Chase Sapphire Reserve. This means that 50,000 points become $750 towards travel. Your travel options include airfare, hotels, car rentals, and cruise lines through Chase Ultimate Rewards.
$300 Annual Travel Credit
One of the main selling points of the Sapphire Reserve is the $300 annual travel credit. This annual credit reimburses cardmembers for travel purchases charged to your card. Through June 30, 2021, Chase Sapphire Reserve gas station and grocery store purchases count towards earning your $300 travel credit.
Luxury Hotel & Resort Collection
Most of us aren’t traveling much right now, however, Sapphire Reserve cardmembers receive select benefits at the Luxury Hotel & Resort Collection. Benefits include complimentary room upgrades, complimentary meals for you and a guest, and early check-in and late check-out.
DoorDash & Caviar Benefits
Chase Sapphire Reserve DoorDash purchases through 2021 earn up to $120 in statement credits. Cardmembers received $60 in credits in 2020 and $60 in 2021. You also receive a DashPass Subscription. This subscription offers a $0 delivery fee and reduced service fees on DoorDash and Caviar orders over $12, for a minimum of one year.
Lyft Benefits
A year of Lyft Pink is available to cardmembers as well as higher earn rates on Lyft rides. The complimentary $199 Lyft Pink membership benefits include preferred pricing, priority airport pickups, and exclusive offers through March 31, 2022. On the earnings front, Sapphire Reserve cardmembers earn 10x points on Lyft. that’s the 3x point you normally earn on travel purchases plus an additional 7x points through March 2022.
Trip Delay Reimbursement
Trip Delay Reimbursement is a benefit you hope you don’t’ have to use but if you do, Chase has you covered if your common carrier is delayed more than six hours, you are covered for unreimbursed expenses, think meals and lodging, up to $500 per ticket purchased with your Sapphire Reserve. Whether comparing the Chase Sapphire Reserve vs Amex Platinum Trip Delay Reimbursement, it comes down to personal preference.
Common Sapphire Reserve Questions
Is the Chase Sapphire Reserve card worth it?
The Chase Sapphire Reserve annual fee is a $150 effective annual fee ($450 annual fee minus $300 annual travel credit). So, you need to earn points or use the benefits to make the Sapphire Reserve worth it. Conservatively, cardmembers need to earn 22,500 points to offset the $150 annual fee. $150 annual fee multiplied by 100 cents per dollar multiplied by 1.5 cents per point in value equals 22,500 points.
What credit score do you need for the Chase Sapphire Reserve?
Data points HERE and HERE suggest a credit score of more than 700 is what you need for the Chase Sapphire Reserve.
Will Chase Sapphire Reserve 100k come back?
Never say never, but there’s no reason to believe the Chase Sapphire Reserve 100k welcome point offer returns. While the Sapphire Preferred recently offered 80 welcome points, the Sapphire Reserve hasn’t offered 100k points since the card’s 2016 debut.
What is Chase Sapphire Reserve card made of?
The Sapphire Reserve is a metal card. Thius is similar to the Chase Sapphire Preferred, Amex Platinum, and Amex Gold.
Conclusion on Sapphire Reserve Holiday Shopping
The Pay Yourself Back feature can be an ideal way to use your Sapphire Reserve this holiday shopping season. Your Chase points can be redeemed at 1.5 cents per point as a statement credit. Eligible purchases include grocery stores, dining at restaurants (including takeout and eligible delivery services), home improvement stores, and charitable organizations.
What do you think about the Sapphire Reserve? What card do you use for your holiday shopping? Please let me know in the comments below or by sending me an email on my contact page.
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