Review: The New Sapphire Reserve for Business℠

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Chase is releasing a premium credit card for business owners. 

The first of its kind from this financial institution, the Sapphire Reserve for Business℠ is a direct competitor to The Business Platinum Card® from American Express and the Capital One Venture X Business.

The Sapphire Reserve for Business℠ sets a few firsts in the industry. For starters, its $795 annual fee is the highest for a commercially available business credit card. It also comes with annual credits from partnerships with Google Workspace, ZipRecruiter, and Giftcards.com.

Here’s what you should know about this brand-new credit card and whether or not it makes sense for your business. 

The basics 

The Sapphire Reserve for Business℠ is a heavy-hitter for businesses that spend a lot on travel and online advertising. This card shares many of the same perks as its consumer namesake, but offers a slew of benefits tailored for small business owners. 

Current bonus: Earn 150,000 bonus points after you spend $20,000 on purchases in your first 3 months from account opening and access more than $6,000 in total business and travel value in your first year.

Annual fee: $795

Rewards: 

• 8x points per dollar on travel booked through Chase Travel℠

• 5x points per dollar on eligible Lyft rides (through September 30, 2027)

• 4x points per dollar on direct flight and hotel bookings

• 3x points per dollar on social media and search engine advertising

• 1x point per dollar on everything else

Foreign transaction fees: $0

Other benefits: 

• Access to Priority Pass™ airport lounges for primary cardholder and up to two guests (after enrollment), and Chase Sapphire Lounges

• Up to $300 annual travel credit 

• Up to $120 credit for Global Entry, TSA PreCheck, or NEXUS every four years

• Up to $500 toward eligible hotel stays booked through The Edit by Chase Travel℠ with a minimum two-night stay (distributed as statement credits of up to $250 twice a year: once between January through June, and once between July through December. Not available for employee cardholders.

• $400 ZipRecruiter hiring credit (in two increments of up to $200 between January through June and up to $200 between July through December)

• $200 Google Workplace annual credit

• $100 Giftcards.com annual credit for employee appreciation rewards

• Up to $300 in DoorDash annual credit with complimentary DashPass membership (distributed as $25 monthly in three promos: $5/month toward restaurants, and two $10 monthly credits toward non-dining DoorDash purchases such as groceries, beauty, electronics, and more.) 

• Up to $120 in annual Lyft credit (distributed as statement credits of up to $10 monthly)

• Complimentary IHG Platinum elite status

• Access to Sapphire Reserve Exclusive Tables on Open Table

• Access to Pay in Full credit line as well as Flex for Business payments with interest

• Unlock even more benefits after spending $120,000 on the card in a calendar year: IHG Rewards Diamond elite status

• Southwest Airlines A-List status

• Up to $500 Southwest credit for flights booked through Chase Travel℠

• $500 credit toward The Shops at Chase

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The pros and cons

The new Sapphire Reserve for Business℠ is flashy, but only makes sense for a select subset of business owners who can maximize its earning potential and benefits. For most small businesses, the Chase Ink family of credit cards is more than sufficient. 

Why we love the Sapphire Reserve for Business℠

Generous travel benefits: The Sapphire Reserve for Business℠ comes with several valuable travel benefits, including two semi-annual credits of up to $250 apiece for qualifying hotel stays booked through The Edit by Chase Travel℠.

Additional benefits for spending: Big spenders can also unlock top-tier IHG elite status and Southwest A-List status after spending $120,000 on the card within a calendar year, plus up to $500 in credit toward Southwest flights booked through Chase.

Airport lounge access: Chase business owners haven’t had a way to visit the swanky new Chase Sapphire Lounges or the worldwide Priority Pass™ network — until now. Sapphire Reserve for Business℠ cardholders can bring up to two guests on each airport lounge visit.

Things to consider with the Sapphire Reserve for Business℠

Cost vs. benefits: Chase's Sapphire Reserve for Business℠ is a flashy card with a high annual fee, but it isn’t necessarily a fit for your company just because you can afford it. If you don’t travel often or dislike tracking various benefits, you’ll probably do better with a lower-cost business credit card that earns flatrate rewards. 

Earning points with the Sapphire Reserve for Business℠

It’s relatively easy to earn Chase Ultimate Rewards points with the new Sapphire Reserve for Business℠, especially if you book a lot of business travel through the Chase travel portal. 

Unfortunately, the Sapphire Reserve for Business℠ doesn’t offer the opportunity to earn extra on business spend on dining expenses for times when you may need to wine and dine clients or your team. While cardholders have access to Sapphire Reserve Exclusive Tables through OpenTable, they only earn 1x per dollar on dining expenses. 

In contrast, Chase’s no-annual-fee Ink business credit cards offer up to 2% cash back on restaurant spend (up to a yearly limit). And if you have a Chase credit card that earns points, you can transfer cash back from the Ink business credit card to the points credit card to convert them to valuable travel rewards.

Redeeming points with the Sapphire Reserve for Business℠

There are several ways to redeem Chase Ultimate Rewards points. You’ll usually get the most value by transferring them to airline and hotel partners for premium flights and hotel stays. 

We don’t usually recommend booking flights through Chase for two reasons: One, because you’ll typically find better deals transferring points directly to airlines, and two, because it’s hard to change or cancel your flights when you book through a third-party online travel agency (OTA) like Chase Travel℠. 

Finally, we recommend staying away from non-travel redemptions such as cash back, statement credits,, and gift cards. The Chase Sapphire Reserve for Business℠ isn’t worth keeping at this annual fee price point if you simply want a glorified cash back credit card.  

Who this card is great for 

The Sapphire Reserve for Business℠ makes the most sense for businesses that spend a significant amount on travel each month, especially if they don’t mind booking through Chase and can utilize most or all of the annual credits. Otherwise, most business owners will do better with a lower-cost business credit card like the $95 Chase Ink Business Preferred® Credit Card, which also earns 3x points on advertising and travel expenses, or the no-annual-fee Chase Ink Business Unlimited® Credit Card, which earns 1.5x points on everything.

Comparing the Sapphire Reserve for Business℠ vs the Chase Sapphire Reserve®

Chase launched the brand-new Sapphire Reserve for Business℠ at the same time it announced the consumer card’s overhaul. This premium business credit card will also come with the same $795 annual fee in exchange for thousands of dollars in annual credits and benefits. However, many of its credits are for business expenses such as advertising and recruiting, rather than for lifestyle purchases, like dining and entertainment. 

The Sapphire Reserve for Business℠ also comes with access to Priority Pass™ lounges (after enrollment) and Chase Sapphire Lounges, and doesn’t charge an annual fee for authorized user cards for trusted employees. However, authorized users do not get airport lounge access, nor do they get complimentary IHG elite status. 

Here’s how the two cards compare on benefits:

Comparing the Sapphire Reserve for Business℠ vs the Ink Business Unlimited® Credit Card

The Sapphire Reserve for Business℠ is the highest-tier business credit card from Chase, but the Chase Ink line of business credit cards is fantastic for most small business owners. 

The Ink Business Unlimited® Credit Card is one of the most versatile options for any business. There’s no annual fee, so it’s not a problem if you keep this card in the company junk drawer for months on end. It earns a flat rate of 1.5% cash back on all expenses, surpassing the Sapphire Reserve for Business℠ on non-bonused transactions. 

While this card earns cash back on its own, you can transfer those rewards to a personal or business credit card that earns Chase points to use for future travel. 

Comparing the Sapphire Reserve for Business℠ vs The Business Platinum Card® from American Express

The new Sapphire Reserve for Business℠ is best compared against its next-closest competitor, The Business Platinum Card® from American Express. 

Both of these premium cards come with generous travel protections, complimentary lounge access and hotel elite status, plus well over $1,000 in annual credits toward business expenses. 

Summary

The Sapphire Reserve for Business℠ isn’t for everyone, but it can be a powerhouse for the right business owner. Lifestyle entrepreneurs who travel frequently and invest in digital marketing are great candidates for this card, while businesses that offer travel services can also benefit significantly from this new card’s earning rates.

Advertiser Disclosure: Some links to credit cards and other products on this website will earn an affiliate commission. Compensation may affect how and where the cards appear on the site, and we do not include all card companies and all available card offers. Opinions, reviews, analyses, and recommendations have not been reviewed, endorsed, or approved by any of these affiliate entities. point.me has partnered with CardRatings for our coverage of credit card products. point.me and CardRatings may receive a commission from card issuers when a customer clicks on a link, when an application is approved, or when an account is opened.

The Business Platinum Card® from American Express see rates and fees; terms apply