The Chase Sapphire Reserve® has become a highly sought-after credit card due to its extensive travel benefits, but its hefty annual fee of $795 has historically kept it out of reach for many. However, active-duty U.S. military members and their spouses can benefit significantly from this card, as Chase is waiving the annual fee for qualifying service members under the Military Lending Act (MLA).
Why This Matters for Military Families
Military life often includes considerable travel, including PCS moves or family visits during deployments. With the Chase Sapphire Reserve®, military families can enjoy enhanced travel experiences at no annual cost:
- $300 Annual Travel Credit: Automatically reimburses the first $300 spent on travel each year.
- Priority Pass Lounge Access: Get entry to over 1,300 airport lounges worldwide, providing a comfortable space during layovers.
- Global Entry Application Fee Credit: This reimbursement expedites airport security checks, saving valuable time.
- Comprehensive Travel Insurance: Coverage for trip delays, lost luggage, and vehicle rental damages is included.
The Catch
Despite the fee waiver, the Sapphire Reserve isn’t suitable for everyone. Credit approval typically requires excellent credit scores, and the fee exemption only applies to the primary cardholder. Authorized users may not be covered unless they also meet MLA qualifications.
Additionally, while card perks can be enticing, they need to be utilized wisely. For instance, certain credits, such as a $120 Lyft credit, are divided monthly and can expire if not used, so overspending just to obtain these benefits could negate their value.
Conclusion
For active-duty military members and their spouses, the Chase Sapphire Reserve® presents an excellent opportunity to maximize travel rewards without the burden of an annual fee. It truly stands out among high-fee credit cards, catering specifically to those who frequently travel or dine out.