Calling all existing Chase Sapphire Reserve® (see rates and fees) cardholders — or, at least, those who were cardholders before the card was refreshed in June.
We now have access to the Sapphire Reserve’s new statement credits. I don’t know about you, but I’ve been counting down the days until Oct. 26 rolled around so I could put these credits to use.
That’s because newly approved applicants who got their cards on or after June 23 unlocked immediate access to the refreshed offerings, while existing cardholders got access to Points Boost on this date but had to wait until Oct. 26 to access the rest of the card’s perks.
Now that all Sapphire Reserve cardmembers are on the same page, let’s talk about the easiest way to get the most value from your card: tracking its credits and benefits to make sure you’re getting use out of them and that they help offset the card’s annual fee.
Sapphire Reserve annual fee vs. statement credit value
I’m a firm believer that if you’re not maximizing the perks of your credit cards, it’s time to reconsider whether they’re worth keeping.
Don’t get me wrong. A card that only offers one or two perks can still provide value, but if you’re paying an annual fee for a product that isn’t serving you, it may be time for a change — or a downgrade.
This is how I ensure that the cards in my own wallet are worth keeping year over year, especially my Sapphire Reserve and its hefty $795 annual fee. Because this is the most expensive card I currently hold, I closely monitor its offerings.
Related: The complete guide to credit card annual fees
As mentioned above, one of the easiest ways to offset a card’s annual fee is to get as much value as possible out of its perks, such as statement credits.
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The table below outlines the Sapphire Reserve benefits I already fully maximize, plus new credits I’ve just received access to that I plan to use in full year over year. It also shows the math I use to back that value out of the annual fee to ensure I’m getting my money’s worth.
| Sapphire Reserve statement credit | Annual fee minus Sapphire Reserve statement credit |
|---|---|
| $500 The Edit credit for stays booked via Chase Travel℠ (disbursed as up to $250 biannually; requires a two-night minimum stay)* | $795 minus $500 equals $295 |
| $300 travel credit | $295 minus $300 equals -$5 |
| Up to $300 annually in StubHub credits (disbursed as $150 biannually)(through Dec. 31, 2027) | -$5 minus $300 equals -$305 |
| Complimentary $250 Apple TV+ and Apple Music subscriptions (through June 22, 2027) | -$305 minus $250 equals -$555 |
| Up to $120 Global Entry statement credit (every four years) | -$555 minus $120 equals -$675 |
| $120 DoorDash DashPass membership (through Dec. 31, 2027) | -$675 minus $120 equals -$795 |
*Starting Jan. 1, 2026, this statement credit will change; Chase Sapphire Reserve and Chase Sapphire Reserve for Business℠ (see rates and fees) cardholders will automatically receive up to $250 for prepaid bookings with The Edit twice per year (up to $500 annually) instead of having to wait to use the $250 biannual statement credits between January through June and July through December.
Because of the hefty $500 The Edit credit, it doesn’t take much more to put me in the black. As you can see above, my card’s benefits begin to cancel out the annual fee with the $300 travel credit since the benefits and credits in this table are things I already spend money on or would still pay for even if I didn’t have a Sapphire Reserve card. With just two statement credits, I more than break even on the $795 annual fee.
Note that the figures in the table above don’t even account for perks and statement credits that I use occasionally, like the up to $300 annual DoorDash promos (disbursed as up to $25 monthly credits; this breaks down as a $5 promo for restaurant orders and two $10 promos each month for things like grocery delivery).
Related: Are premium credit cards worth the annual fee?
This means my savings from holding a Sapphire Reserve card have the potential to be even greater than those outlined in the table. That’s especially true of the lounge access I get with my card since it offers exclusive access to Chase Sapphire Lounges by The Club in addition to a Priority Pass membership that gets me into lounges as well.
I previously wrote about why I chose to keep my Sapphire Reserve even after its annual fee shot up from $550 to $795. My reasoning essentially boiled down to the fact that the card’s value far outweighs its annual fee — and that’s become even more true now that I have access to additional credits and perks.
Track your statement credits to maximize value
I recommend using basic tools to get started — I’m a fan of a simple Google Sheet to track my credits. Carly Helfand, TPG’s director of points, miles and credit card content, likes TickTick for making statement credit to-do lists and setting reminders before they expire.
If you prefer a less techy approach, pen and paper always work, too. Just remember to check your trackers on a monthly basis to make sure you’re maximizing the value you get out of your cards.
Bottom line
Whether you have a single card or multiple, consider tracking your statement credits, especially if you have a lot of them, like I do. This is a surefire way to get the most value out of the six cards I currently have in my wallet (many of which, like the Sapphire Reserve, offer multiple statement credits and perks I use to minimize or completely offset the cost of their annual fees).
Even if you don’t pay an annual fee on the cards you do have, you could be leaving money on the table by not activating quarterly cash-back categories or monthly, quarterly and biannual statement credits.
Related: Earn rewards on a budget with these no-annual-fee credit card strategies
