So here my wallet is a card that I recently applied for and that is going to be the Chase Sapphire Reserve Now the process of me applying for this card I had a whole bunch of questions like the benefits, how it actually compares to some of the other competing cards, and whether or not it's still worth it because it has an annual fee of 550, it's a hefty annual fee and in this video, if you're someone who's looking to apply for this card or maybe you have this card already, it's going to be perfect for you. I'm gonna be going over all of that information in this video, the details on everything you need to know, and by the end of this video, you'll have a full understanding of this card and whether or not you should actually get it. First of all, to compare how this card feels it is actually like in between my AmEx green card and then the AmEx platinum card that I have, the platinum card is by far a lot more thicker. It's a lot more sturdier like you can see I can barely bend this bad boy here, but with the reserve card right here, it bends pretty easily.

Now here's one more card if I compare it to the AmEx green card the green card. You can pretty much fold hold of this John a little too much. Oh man, it's like dang it all right that works. Now going into the details of the card.

first of all, the most important thing is usually the welcome bonus offer. This is where you can find you can accrue a whole bunch of points without doing much spending money that you're gonna spend anyways. and for this card currently it's at 60 000 bonus points after you spend four thousand dollars in the first three months from account opening now. Chase on their website actually values that at nine hundred dollars towards travel when you redeem it for the Chase Ultimate Rewards portal.

And that's because with the Chase Sapphire Reserve you get a 1.5 x boost on the points whenever you redeem it through the Ultimate Rewards portal. I'll show you guys what that looks like some of the benefits from using it as well because it's very simple. It's like Expedia basically or like a travel booking website where you can find hotels Airlines whatever it is in order to redeem your points for Value there. Going back to the welcome Bonus offer.

One thing that I wish Chase did that I know American Express actually does is the fact that they make those welcome bonus offers extend for a six-month period rather than a three month period because not a lot of people have issues usually spending four thousand dollars in three months. but there are going to be some people who do. If you happen to be traveling a lot, you know you can knock that out with the flights you get and the hotel you get and even some of the food that you're eating. And naturally you should be able to hit it fairly soon.

But for the people that who can't, it would be nice to extend it for six months, but that's just the way Chase has been for a really long time. Now when you do get this card, the annual fee is not going to post right away, but it will post roughly a month after you open your account and then you get charged on your second statement. So because I got this card like two weeks ago and it says my closing date was like the third week of the month I would expect for me to get that annual fee posted on my account in about another month from then. Once you get hit with that first annual fee, you then have 12 months after that before the next annual fee post.

So sometimes people can fuse the annual fees at posting at like January 1st at the beginning of every calendar year. but it's actually 12 months anytime you open your card. Now before we go into whether this card is worth it or not, we still need a breakdown. First of all, the annual fee versus the return on value you get from some of the benefits that the card offers.

Now I Know 550 sounds like a lot and trust me it is. Especially when you have like four different cards now that are all holding Annual fees. it really starts adding up for me like I'm paying I think close to three thousand dollars every single year just to hold my credit cards. But if we break it down or even just break down the singularity with this card in its Bare Bones think about it like this: 550 divided by 12 is going to be 45.83 to hold this card every month.

If we break that down at what it looks like per week, that's about 11.45 every week in order to hold this card. If you are traveling though, and you have access to some of the Sapphire lounges, we'll talk about that or even like the welcome bonus offer you get. or even just simply put the 5 to 10x rewards that you get on their revamped Benefits of travel spending you would do. You could find that you're getting outsized value pretty quick.

So with this card, what do you get? exactly? Well, you're gonna earn 5x total points on flights and then 10x total points on hotels and car rentals when you book through the Chase Ultimate Rewards portal after the first 300 is spent on travel purchases annually. Now, the reason that they post that little 300 statement is the fact that when it comes to travel, this card is so great because they give you a 300 travel credit and with Chase it's just super easy to use. So unlike American Express where it seems like it's a dedicated coupon book, you can't spend all your credits all at once. They restrict you in spending it in proportions every single month to make sure you continue using that card.

This is easy. If you have like a 300 you know flight or anything like even a 500 flight, they will automatically deduct the 300 travel credit right there. so that right there is really easy to use and knock out effectively. That brings down the annual fee from 550 dollars to just 250 every year.

We're not going to even take into consideration the 60 000 welcome bonus offer because if we did, then that would put you in the net. Positive: Buy a long shot for that first year. What I do want to mention though, is some of the other card earning benefits that you get. So you get 3x points on dining at restaurants including eligible delivery services like takeout and dining out.

and then you'll also earn 3x points on other travel worldwide. and then you get 2x points on Chase dining purchases. Now with that one right there I actually haven't used it myself and I don't know how viable it is I'm not gonna actually take that into consideration, but it is nice to know that you could potentially earn 10x points on your dining. so no other card that I know offers 10x back.

Now if you combine that also with the chase 1.5 x point booster from the Ultimate Rewards portal, that right there is a serious whopping benefit and really just starts giving you money back onto your card. And on top of that, you get complimentary airport lounge access. So they state that you can get up to 1300 VIP lounge access in 500 cities worldwide and I will say this: Chase has been doing a fantastic job in upping their Chase Sapphire Lounge experience. Now a lot of people will get American Express to stay at the Centurion lounges.

Those have been getting extremely overcrowded for the past few years where even American Express has had to limit the amount of people staying at their Centurion lounges by charging additional guests those fees with the Sapphire lounges I've only heard great things I've seen some Vlogs of it, some like Instagram stories of it. It looks clean, you get a lot better food experience, you get a lot better customer service experience, and you're not up in other people's backside sniffing up their armpits. Now on top of that, this card is also going to give you Global Entry or TSA pre-check or a Nexus fee credit and that comes in a statement credit on up to a hundred dollars every four years as reimbursement for the application fee that's charged to your card. A lot of people won't mention this but I think it is worth mentioning because if you do get this cart, it also comes with a pretty sick referral bonus offer where you can earn up to 50 000 bonus points per year and you can earn 10 000 bonus points for each friend that gets approved for the card that you have so pretty large.

welcome bonus offer. You get rewards on travel and dining and you also get a 50 boost when redeeming those points. For travel. That right there is pretty phenomenal, but it actually goes into even more benefits than that with the Chase Sapphire Reserve Or even if you have the Chase Staff I preferred, you get access to the Ultimate Rewards portal which also allows you to transfer your points out to other partners where you can even find better redemptions more than the 50 boost that you normally get.

Now when it comes to the Chase Ultimate Rewards portal, I actually have had really good experiences I've seen a lot of good value. It's not one of those travel portals where they charge you more than the hotels and they say you're getting a good deal when you're not. It's been pretty consistent on behalf of my travel bookings, but you definitely have to put a little bit more research in. Regardless, if you do want to get the best value possible for your card, it's always going to result in you transferring your points out with any one of their partners and then from there getting an even better value natively within their own website.

Now some of their Transfer Partners include Aer Lingus Air France Air Canada British Airways Emirates Iberia JetBlue Singapore Airlines Southwest United Virgin Atlantic and then their hotels, you get a one-to-one hotel transfer rate with Hyatt and you can also transfer your points to Ihe and Marriott Bonboy. A recent addition they also added to the reserve card is the fact that you get 10 points per one dollar spent on Lyft rides through March 2025 and then you also get seven bonus points on top of the three points per one dollar. Now on top of that, you also get a free Dash Pass membership for up to 12 months when you activate the benefit by December 31st, 2024. So after that I don't know if this limited promotion is going to last.

Sometimes these Banks do tend to extend it, but to play it on the safe side, if you apply for this card before the end of December 31st of next year, you'd be good to go with this benefit. Here you pretty much just pay no delivery fees on orders up to twelve dollars and then Dash Pass would normally be a ten dollar per month benefit. So when it comes to the travel benefits of this card, let's go into more detail now because this is a car that has a much higher annual fee. It's in a tier that's in a class above your regular ordinary cards where this is considered to be a Visa infinite card.

From here, you get access to even more benefits. You usually get a bigger credit limit and on top of that, this card more specifically also gives you no foreign transaction fees. So if you're taking a little trip to Cancun or the Bahamas or anywhere internationally outside of the US Normally if you use a credit card, they charge you a three percent foreign transaction fee, but this card is going to waive it completely with this car too. It also comes with a bunch of other protections, so this includes a purchase protection where on up to 120 days you get protections on theft or damage for up to ten thousand dollars per item and fifty thousand dollars per year get return protection which allows you to get coverage for 90 days after purchase on up to 500 per item and a thousand dollars per year.

And then you get extended warranty where they add an additional extra one year of the manufacturer's warranty of three years or less if you buy a product using your card. All that stuff is great. So if you use this card, you're shopping a lot with it. Something happens to your item.

You could rely on Chase and their insurance programs to be able to help you out. Aside from that, travel protection for this card is actually really good too. So if you happen to be renting your car with Hertz or any one of those agencies, if you decline their primary insurance coverage, save yourself a couple hundred bucks. You can then go ahead and have coverage on up to 75 000 against Collision or theft if you go ahead and just book it with your Chase Sapphire Reserve card.

These three next benefits are also fantastic for anyone who's primarily using this for travel, so this is going to be trip cancellation or Interruption Insurance You get trip delay reimbursement and then you also get lost luggage reimbursement. So for trip cancellation, you'll get reimbursed for up to ten thousand dollars per person and up to twenty thousand dollars per trip if you have to cancel or cut short your trip just because of sickness, weather, and or other covered situations. And then the reimbursement applies only to prepaid non-refundable travel expenses. So basically, if your airline is like, okay, we're not going to be canceling your flight and you're like dying in bed with the flu or something you literally can't travel, this would come in handy.

You also have trip delay reimbursement. so anytime I've traveled at least the past few times I've been seeing a lot of things getting delayed. It turns out if you are booking Airlines trains, bus, or any other ticketing experiences and the delay lasts for more than six hours or requires an overnight stay, you're going to be covered for up to 500 per ticket for reimbursed expenses. So you know if you get delayed enough and you gotta eat so you don't starve, you can pretty much put all those charges on your card and then file a claim after that and just show them proof that your trip was delayed and that you know you needed to buy a new iPhone charger so that your phone wouldn't die or you know you needed to buy some snacks or some water, have a meal.

You'll have up to 500 per ticket on getting covered there. and then if you ever lose your luggage and quick little tip or trick guys always put an air attack in your luggage comes in so handy. but if you do that and they still lose it, you can get up to three thousand dollars of coverage per passenger if you're checked or carry-on luggage is damaged or lost by the airline so you know. I Got a pretty expensive suitcase I got one of them Ramos but I bought it in Korea for a little bit of a discount.

It was a great deal back there. If that remote happens to get damaged, they throw it around and I bought it using this card right here. I would have protection as well. So those are going to be all of the main benefits that you need to know about the Chase Sapphire Reserve So is it worth it? Now before we get into the details on that, if you are interested in applying for this card, be sure to check out the link Down Below in the description or scan the QR code on your screen These are affiliate links.

They support this Channel at no cost to you and I know for a fact right now the Chase Sapphire Reserve this is going to be the highest welcome bonus offer that you can get. So to answer the question though, is this card worth it? Simply put, yes, if you travel often, then the high earning rates on this card is going to easily justify that annual fee. But even if you're a homebody, if you still find Value in the doordash and lift benefit and you use the travel credit for everyday things like taking an Uber taking a Transit using the Metro, you'll find that you can still find Value in this card. Also another fun fact to just even prove the point, this card is worth it.

It was even reported that this right here cost JP Morgan 200 million dollars in Q4 of I believe 2018 just because of all the benefits that they gave. Now going through multiple articles on this I saw a common theme where one analyst had noted that it would take about five years for JPMorgan Chase to even break even on this card. Now the only other question that comes up then is would you then get the Chase Sapphire Reserve Or would you get a card like the AmEx Platinum Okay, so as someone who literally has both in their hand right now, and for someone who's actually had the platinum card for a longer period of time, let me tell you this: Amex definitely offers a lot more luxury travel perks that I find considerable value in. Even with that though, I realized the Platinum card will still give you outsized value.

but you do need to do a lot more work and its annual fee is still going to be much higher than the reserves. I'd say for 80 percent of the people out there, the Chase Sapphire Reserve is going to be the best premium credit card for spending on travel and for earning rewards on things like dining as well. Now, if you're really bawling on a budget, then I'd actually recommend the Capital One Venture X card to be considered as one of the most sleeper premium Tier credit cards. But I would say this if you travel often and you travel enough, definitely within the first year, the lineup of having all three cards still makes sense if you're traveling even just once or twice a year, but those happen to be you know, longer one week stays I still believe that you can get positive value.

Either way, if I could do it all over again, I would not change a single thing and what I had done was get the Chase Sapphire Preferred Card first during a time I knew I wasn't traveling that much and it was a time when I was much more broke than I am today. so I would get that card. I would then downgrade that card or cancel that card after holding it and getting the welcome bonus offer and then I would wait four years and then apply for the Chase Sapphire Reserve card and then if I started to travel in between that time I would get the Capital One Venture X card or pick up the AmEx Platinum Card which is actually what I did instead. Now with the current setup I have now: I don't plan on canceling the Chase Sapphire Reserve I'm gonna hold on to this card for as long as I see possible.

and that's just because without any of these Sapphire cards, you do not have access to the Ultimate Rewards portal. So right now I have over 1 million points within my Chase account and all of that is just sitting in there. and I don't want to redeem it for not being able to get more than at least three to five cent per point. So that means a million points one to one.

I Believe that's about ten thousand dollars, but if I was able to get a three to five cent Point Redemption rate on those same points, it would go from ten thousand dollars worth of value in travel to Thirty to even fifty thousand dollars worth of benefits. Now if you guys are ever curious on how I was able to accrue over a million points I actually made a ton of videos on my channel talking about that, so be sure to watch over some of our older videos there. Last but not least, how do you get approved for this card? Well, it's all over the place like someone within our Facebook group. By the way, we hit 35 000 members in that group.

We're opening up our Discord soon enough too if you guys want to join that link for it is down below in the description, but someone had an 800 credit score and they got denied for the Chase Sapphire Reserve Now on the other hand, I've seen people with a 650 credit score getting approved too at the end of the day. It's all about knowing the rules, how many cards you have because don't forget Chase has something called the 524 rule where if you've applied for more than five cards within a 24 month period, they're gonna automatically deny you even if you have an 850 credit score. Generally, even though this card is considered to be the flagship Premiere best card that you can get with Chase Aside from the JP Morgan Reserve card, this this is still pretty easy to get now. I Highly recommend that if you have a score of at least 680 700, you'll still be good now.

I'd say you have a 90 chance of still getting approved for the Chase Sapphire Reserve card as long as you fit under the criteria of the rules that they set. So guys, if you want to learn more about the card up, be sure to check out the links Down Below in the description. On top of that I Also have a pin comment if you guys do want to check out the Chase Sapphire Reserve Now by the way guys, at the end of April 2024 I'll be in Canada for the second annual Prince of travel Summit If you guys want to go ahead and join me there Network Whatever it is, be sure to check out the link Down Below in the description I have a coupon code for you guys to use as well if you want to pick up a ticket and I'd love to meet y'all in person. This is a fascinating event for anyone who's getting into the credit card space you're trying to learn more about.

Point redemptions uh and miles and things like that. So link for that is down below. Thank you all so much again for watching this video. If you guys have any other questions on how this card Stacks up with other cards you know or you know you want my six month or one year update on it, definitely let me know.

Down Below in the comments I'd Love to make that video for y'all Stay beautiful, stay blessed and I'll see y'all soon! Peace.