The Chase Sapphire Reserve® Card ( application ) has a $795 annual fee, and after the card’s 2025 refresh, the question of whether it’s still worth it has only gotten more contested — some people find it more valuable than before, others less. The card now carries well over $1,000 in potential credits, but it’s increasingly a “coupon book” of perks, and the gap between the headline value and what you’ll actually capture is the whole decision.

So rather than re-listing every benefit (the full Chase Sapphire Reserve review covers those), this is my honest accounting of how the math actually works for me: which credits I treat as good as cash, which I forfeit, where the lounge access earns its keep, and whether the fee still pencils out once you strip away the perks that sound great but don’t fit my life.

Link: Learn more about the Chase Sapphire Reserve® Card

My running tally so far on the Sapphire Reserve

The welcome offer is the best we’ve ever seen on the card

The rewards structure: what I actually…