The Chase Sapphire Reserve® is a longstanding favorite among credit card holders, and for good reason. Its welcome bonus is top notch, and it comes with a handful of benefits that can make frequent traveling more comfortable.

Rewards: Cardholders will earn 5 points per dollar on air travel and 10 points per dollar on hotels and car rentals when purchasing travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3 points per dollar on other travel and dining and 1 point per dollar spent on all other purchases.

Annual Fee: $550

Bonus Offer: New cardholders can earn 50,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening.

Other Benefits or Drawbacks:

• $300 annual travel credit in the form of reimbursement for travel purchases each year
• Receive a statement credit of up to $100 every four years as reimbursement for Global Entry or TSA Pre✓®  fees.
• Complimentary access to airport lounges with Priority Pass Select enrollment
• Transfer points on a 1 to 1 ratio to one of Chase’s airline and hotel partners, including Southwest Airlines, JetBlue, Ritz-Carlton and more.

This card is for consumers with excellent credit, but that’s not the only thing to keep in mind: Chase also has a strict eligibility rule, known as the “5/24 rule.” Under this rule, Chase will not consider applicants who have opened five new credit cards in the past 24 months, from any issuer.

You can read our full review of the Chase Sapphire Reserve here.