Chase Sapphire Reserve®
Premium card with a $10,000 minimum credit limit, luxury travel perks, and up to 125,000 bonus points. Ideal for high spenders seeking exclusive benefits.
The Chase Sapphire Reserve® is a premium credit card that stands out for offering a high minimum credit limit of $10,000. This card is designed for Canadians who value travel rewards, luxury benefits, and robust purchase protection, including travel insurance. With an annual fee of $795, new applicants can access up to 125,000 bonus points after meeting the initial spending requirement, alongside a $300 annual travel credit.
How to apply for the Chase Sapphire Reserve®
- Review the eligibility requirements, such as credit score and income check.
- Fill out your personal and financial information accurately on the application form.
- Submit recent employment and income details for credit assessment.
- Wait for approval and, if successful, activate your new card upon arrival.
Standout benefits
This card is ideal for frequent travellers due to its sizable welcome bonus and the $300 annual travel credit. Cardholders may also enjoy airport lounge access and premium travel protections, making each journey more comfortable and secure.
Additionally, the high limit can increase your purchasing power and improve your credit utilization, benefiting your credit score over time.
Possible drawbacks
The $795 annual fee may not be worthwhile for those who do not travel often or won’t use all the card’s perks. Also, getting approved usually requires a strong credit profile and high income.
If you’re concerned about overspending, the high credit limit could lead to unnecessary debt if not managed wisely.
Verdict
The Chase Sapphire Reserve® shines for big spenders and frequent travellers who will maximize rewards and luxury benefits. However, only apply if you can comfortably meet the high annual fee and approval criteria.
