Since you’re probably traveling a lot less, you may be wondering if it’s time to get rid of the Chase Sapphire Reserve® and explore some alternatives.
Many excellent travel perks come with this travel card, but there are also other incentives, even if you plan to stay close to home. Is it worth keeping the Chase Sapphire Reserve® in 2021? Here are key factors to consider as you weigh your options.
Attractive new benefits of the Chase Sapphire Reserve® card
More ways to use the $300 annual travel credit
For the time being, Chase has changed the way that this card’s travel credit works. Usually, this is earned by making travel purchases, but due to the pandemic, cardmembers now have other opportunities to use this credit.
Gas station and grocery store purchases now count toward this credit through June 30, 2021. This way, you don’t have to worry about rushing to book travel just to use your credit. This $300 back in credits goes a long way to offsetting the $550 annual fee.
Earn 3 points per $1 on grocery purchases
Usually, this card earns 3 points per $1 for travel expenses and dining purchases. In addition to these categories, cardmembers can now earn 3 points per $1 on up to $1,000 of grocery store purchases per month. This incentive is available through April 30, 2021.
This is a great time to continue accumulating points, and it’s now easier to do so while making everyday purchases.
Peloton subscription credits
Many people canceled their gym memberships and started working out at home during 2020. If you’re a Peloton bike rider or have a Peloton Digital subscription (no bike needed), you can use your Chase Sapphire Reserve® card to get a statement credit for those subscription fees.
Cardmembers can get up to $120 in credits through Dec. 31, 2021. Make sure that you’re using your card to pay for your Peloton subscription membership and you’ll be eligible to get these credits.
Cardmembers will get a one-year complimentary DashPass subscription, a service offered by DoorDash. This service gives members access to $0 delivery fees on qualifying orders as well as other incentives. Chase Sapphire Reserve® cardmembers will also be eligible for up to $60 in DoorDash statement credits in 2021. This credit is available through Dec. 31, 2021.
Extra ridesharing perks
The Chase Sapphire Reserve® also offers cardmembers a complimentary Lyft Pink subscription. This membership provides 15% off car rides, priority airport pickups and other incentives once you activate the complimentary offer. Cardmembers can also earn 10 points per $1 on Lyft purchases through March 2022.
Pay yourself back and get more value out of your points
If you have an extensive collection of Chase Ultimate Rewards® points and don’t feel ready to redeem for travel, you can take advantage of Chase’s Pay Yourself Back feature. Currently, points are worth 50% more when using this tool to redeem them for statement credits on select purchases. If you want to lower your credit card bill a bit and don’t have plans to use your points for travel, this is an excellent option. This feature is available through April 30, 2021.
The bottom line
The Chase Sapphire Reserve® card has a $550 annual fee, but its benefits can outweigh this yearly fee if you use them all strategically. This card still carries many perks that can be used when you’re not traveling and enjoying daily life at home. Just make sure that you’re utilizing these perks and using your card for everyday purchases to get the most value out of it.
How to Maximize Your Rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2021, including those best for: