The Chase Sapphire Reserve credit card has gained popularity among military members due to its tailored benefits, which cater to active-duty service members’ unique needs.
This premium credit card, part of the Chase Trifecta of cards, simplifies travel and enhances lifestyle experiences for service members by offering many advantages, such as fee waivers and extensive travel protections.
With a full list of benefits and perks, it’s easy to see why the card_name is one of the best Chase credit cards for military service members.
Chase Sapphire Reserve Military Benefits and Rewards
Summary
The card_name doesn’t offer quite as many perks as The Platinum Card® from American Express, but it has plenty of valuable perks to appeal to many travelers. Here are the details on the main benefits of the Sapphire Reserve:
- Annual Fee: annual_fees (waived for active-duty military members under MLA/SCRA benefits)
- APR: Variable APR based on the Prime Rate, typically ranging from reg_apr,reg_apr_type on purchases and balance transfers
- Welcome Bonus: bonus_miles_full
- Foreign Transaction Fees: foreign_transaction_fee
- Credit Needed: credit_score_needed
Rewards
- 3 points per dollar spent on travel (immediately after earning your $300 travel credit) and dining at restaurants worldwide
- 1 point per dollar spent on all other purchases
- Point Value: Points are worth 50% more when redeemed for travel through Chase Ultimate Rewards (e.g., 60,000 points are worth $900 towards travel)
- Annual Travel Credit: $300 travel credit that automatically applies to travel-related purchases charged to your card each account anniversary year
- Lounge Access: Complimentary Priority Pass Select membership providing access to over 1,300 airport lounges worldwide
- Global Entry/TSA PreCheck Credit: Up to $100 application fee credit for Global Entry or TSA PreCheck every four years
Travel Protections
- Trip Cancellation/Interruption Insurance: Reimburses up to $10,000 per person and $20,000 per trip for prepaid, non-refundable travel expenses, including passenger fares, tours, and hotels, if your trip is canceled or cut short by covered situations such as sickness, severe weather, or other eligible emergencies.
- Auto Rental Collision Damage Waiver: This provides primary coverage, reimbursing you for up to $75,000 in case of theft and collision damage for most rental cars in the U.S. and abroad. It covers a rental period of up to 31 days.
- Baggage Delay Insurance: This policy reimburses essential purchases such as toiletries and clothing for baggage delays over six hours by passenger carrier, up to $100 per day for five days.
- Trip Delay Reimbursement: Provides up to $500 per ticket for expenses like meals and lodging if your trip is delayed more than six hours or requires an overnight stay.
- Travel Accident Insurance: Offers accidental death or dismemberment coverage of up to $1,000,000 for common carrier travel paid for with your Chase Sapphire Reserve card.
- Emergency Evacuation and Transportation Coverage: This policy covers up to $100,000 for emergency evacuation and transportation if you or an immediate family member is injured or becomes sick during a trip more than 100 miles from home.
Purchase Protections
- Purchase Protection Against Damage or Theft: This policy provides coverage for new purchases against damage or theft for 120 days from the date of purchase, up to $10,000 per claim and $50,000 per account.
- Extended Warranty Protection: This program extends the U.S. manufacturer’s warranty period by an additional year on eligible warranties of three years or less.
- Return Protection: Offers reimbursement for eligible items that the store won’t take back within 90 days of purchase, up to $500 per item and $1,000 per year.
Other Perks
- Luxury Hotel & Resort Benefits: Special benefits at over 1,000 properties worldwide through the Luxury Hotel & Resort Collection
- Dining Benefits: Special access to events and experiences, including exclusive dining events and the Visa Infinite Dining Series
- Lyft Benefits: Earn 10x points on Lyft rides, plus get a complimentary 2-year Lyft Pink All Access membership, including member-exclusive pricing and benefits, when you activate by December 31st, 2024.
- DoorDash Benefits: When you activate by December 31, 2024, you will receive complimentary access to DashPass, a membership for both DoorDash and Caviar. This membership unlocks $0 delivery fees and lower service fees on eligible orders for a minimum of one year.
- Peloton Membership Credit: Earn 10x total points on Peloton equipment and accessory purchases over $150 (with a maximum earn of 50,000 total points through March 31st, 2025).
Chase Sapphire Reserve Military Waiver
Recognizing the sacrifices and service of military personnel, Chase provides a military fee waiver for card_name cardholders and extends its benefits to active-duty military spouses.
What Is the Chase Sapphire Reserve Military Fee Waiver?
Chase has a long-standing history of supporting the military community. In 2011, Chase launched their Military Banking Program, designed to align with both the Servicemembers Civil Relief Act (SCRA) and the Military Lending Act (MLA). These federal laws protect active-duty service members, including National Guard and Reserve members, from certain financial burdens and legal actions while serving.
Key Protections:
- SCRA: Allows service members to reduce the interest on pre-service debt to 6%.
- MLA: Caps military annual percentage rate (MAPR) at 36%, including interest, fees, and other credit-related ancillary products.
Given the typical credit card APR averages over 20%, and annual fees billed in a single month, some creditors waive annual fees for military personnel to avoid exceeding the MLA interest cap.
Chase waives annual credit card fees for active duty military, including the card_name, which has an annual fee of $550. Qualified applicants will receive an MLA Benefits letter stating that they “won’t charge you fees, other than late fees and non-sufficient funds fees, if applicable.” Fees are waived when applying as an active duty cardholder or spouse. However, some reports indicate that fees are not waived for existing cardholders as these protections fall under SCRA.
Chase does not advertise these benefits but provides more information verbally at 1-800-235-9978.
Compare the rates, fees, and rewards of top credit cards for military servicemembers and veterans, including cards with waived annual fees under the SCRA.
How to Apply for the Chase Sapphire Reserve Military Waiver
To make the application process for the card_name and the military fee waiver as smooth as possible, I recommend that you follow these steps:
- Check Eligibility: Verify MLA status and ensure correct enrollment in DEERS (Defense Enrollment Eligibility Reporting System). MLA applies to all active duty service members, active Guard, active Reserve duty personnel, spouses, and certain dependents.
- Complete the Online Application: Visit this website, locate the Chase Sapphire Reserve card, and fill out the application, including military status details.
- Submit Documentation: Provide proof of active-duty status for military benefits, including the annual fee waiver.
- Approval: Chase may approve applications instantly, or additional verification may take a few days. Approved applicants will receive their card in 10–14 days and an MLA Benefits letter if their status is confirmed.
- If Fees Are Not Automatically Waived: Submit supporting documentation via Chase’s secure message system by logging into your Chase account, creating a “New Message,” selecting “Servicemembers Civil Relief Act (SCRA)” from the dropdown menu, and uploading documentation. Alternatively, mail a copy to Chase.
» Learn more: Get started with the Chase Sapphire Reserve here.
Strategies for Managing Your Card with Changing Military Status
Timing Your Changes
Based on feedback from service members, it’s advisable to wait until Chase requests a re-verification of your military status before downgrading or canceling the card. This can potentially extend your benefits.
Downgrading Options
If transitioning from active duty to reserve status and not on active duty for more than 30 consecutive days, consider downgrading to Chase Sapphire Preferred or Chase Freedom Unlimited to maintain your credit line without a high annual fee.
Benefits of Usage and Financial Planning
Understand how you use your card’s benefits, especially if your military status changes. If benefits like travel credits and insurance protections are frequently used and valued, maintaining the card could still be advantageous.
Other Benefits of the Sapphire Reserve for Military
$300 Annual Travel Credit: Receive up to $300 in statement credit each anniversary year for qualifying travel purchases, including flights, hotels, and rental cars.
Chase Ultimate Rewards® Program: Earn valuable Ultimate Rewards points redeemable for travel, gift cards, statement credits, or transferable to Chase’s airline and hotel partners. A 50% bonus applies when redeeming points for travel through Chase Travel?. Earn 5 points per dollar on flights, 10 points per dollar on hotels and car rentals after spending $300 on travel purchases annually, 3 points per dollar on other travel and dining, and 1 point per dollar on all other purchases.
Global Entry, TSA PreCheck, or NEXUS Fee Credit: Active duty members qualify for TSA PreCheck for free. Sapphire Reserve cardholders receive up to $100 in statement credits every four years to cover the Global Entry, NEXUS, or TSA PreCheck application fee.
Travel Insurance and Protections: Gain access to comprehensive travel insurance and protections, including trip cancellation/interruption insurance, trip delay reimbursement, baggage delay insurance, primary rental car insurance, and roadside assistance. Emergency medical and dental benefits up to $2,500 apply when traveling more than 100 miles from home.
Airport Lounge Access: Enjoy complimentary Priority Pass Select membership, granting access to over 1,300 airport lounges worldwide with amenities such as comfortable seating, complimentary refreshments, Wi-Fi access, and business facilities.
Chase Luxury Hotel & Resort Collection: Receive additional guest privileges like room upgrades, late checkout, and complimentary daily breakfast when booking through the Luxury Hotel & Resort Collection.
Food Delivery and Rideshare Benefits: Get a 2-year complimentary Lyft Pink All-Access membership, a 1-year DashPass membership for DoorDash, and a monthly $5 DoorDash credit through December 2024. Also, receive a 1-year Instacart+ membership and a monthly $15 statement credit on eligible purchases through July 2024.
» Learn more: Compare the Chase Sapphire Reserve against other top rewards cards here.
Is the Chase Sapphire Reserve Worth the Annual Fee?
The value of the card_name card can vary significantly depending on whether the $550 annual fee is waived, as it typically is for active-duty military members under the Military Lending Act (MLA) and the Servicemembers Civil Relief Act (SCRA).
Let’s break down the value for both scenarios—when the fee is waived and when it is not—to see if the card is worth the cost.
For Servicemembers with the Annual Fee Waived
For active-duty service members who benefit from the annual fee waiver, the card_name offers exceptional value. Here’s a look at how the math works out:
- $300 Travel Credit: This reduces out-of-pocket expenses by $300 annually and applies automatically to a wide range of travel-related purchases.
- Rewards Earning Potential: Assuming moderate spending, let’s estimate $12,000 spent annually on travel and dining (earning 3x points) and $6,000 on other purchases (earning 1x points). This results in 42,000 points from travel and dining, plus 6,000 from other purchases, totaling 48,000 points. If redeemed for travel through Chase Ultimate Rewards at a 50% bonus, these points are worth $720.
- Lounge Access: Priority Pass Select membership could cost up to $429 if purchased independently.
- Global Entry/TSA PreCheck: A $100 credit every four years, averaging out to $25 per year.
- Travel and Purchase Protections: These are difficult to monetize but certainly add value, particularly for those traveling frequently or stationed overseas.
Total Annual Value: $1,300+ (Travel credit, points value, lounge access, and Global Entry) minus $0 (no annual fee for active duty) equals a net gain of over $1,300.
For Veterans or Servicemembers Without the Fee Waiver
When the annual fee is not waived, determining the value requires careful consideration of how much the cardholder will utilize the benefits:
- $300 Travel Credit: This still applies, effectively reducing the annual fee to $250.
- Rewards Earning Potential: Using the same spending scenario above, the 48,000 points earned are still worth $720 when redeemed for travel.
- Lounge Access: $429 value, assuming full utilization.
- Global Entry/TSA PreCheck: $25 annualized value.
Total Annual Value: $1,300+ (Travel credit, points value, lounge access, and Global Entry) minus $550 (annual fee) equals a net gain of $750+.
The Bottom Line on the Chase Sapphire Reserve
For Servicemembers with Fee Waiver
The card is unequivocally worth it. The benefits far outweigh any costs (which are null in this scenario), providing substantial value in travel perks, protection, and rewards.
For Veterans or Others Without Fee Waiver
The value here hinges on usage. If you travel frequently and utilize perks like lounge access and travel credits, the card can offer good value, surpassing the annual fee cost.
However, the card might not offer enough value to justify the fee for those who travel less or might not fully leverage the travel credits and lounge access. This calculation also assumes optimal redemption of points through Chase Ultimate Rewards for travel, which maximizes their value.
In both scenarios, how much one travels and one’s spending patterns play a critical role in the value assessment of the card_name card. The card offers exceptional value for active users, especially those who can waive the fee. For others, it might require more careful consideration to fully utilize the benefits to offset the annual fee.
» Learn more: Get started with the Chase Sapphire Reserve here.
Frequently Asked Questions
Service members frequently ask these questions when researching the card_name and the military fee waiver.
Chase offers a military fee waiver for active-duty service members, waiving the annual fee of $550. This benefit extends to active-duty military spouses.
Check your MLA status, complete the online application, and submit proof of active duty status. Chase typically waives fees automatically for eligible applicants.
Benefits include a $300 annual travel credit, extensive travel protections, Global Entry/TSA PreCheck credit, and Priority Pass Select membership.
Yes, especially for those with the annual fee waiver, the card offers substantial value through travel credits, rewards, and travel protections.
Yes, the fee waiver extends to active-duty military spouses.
Consider downgrading to a lower-fee Chase card if your status changes to maintain your credit line and benefits.
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