For avid travelers, the Chase Sapphire Reserve can be a good deal — despite its $795 annual fee — thanks to its rich rewards and valuable perks. Less frequent travelers won't benefit as much.

The Sapphire Lounge in Phoenix (PHX) opened in November 2024 and is located at the new eight-gate facility in Terminal 4.

The Chase Sapphire Reserve® has a much higher annual fee — $795, compared with $95 for the Chase Sapphire Preferred® Card — but it offers richer rewards and more perks.