Chase Sapphire Preferred vs. Reserve: An overview
| |
Chase Sapphire Preferred |
Chase Sapphire Reserve |
| Best for |
Semi-frequent travelers; earning rewards on everyday spending |
Frequent travelers who can utilize enough benefits |
| Welcome bonus |
75,000 points if you spend $4,000 within three months of opening your account (worth up to $900) |
75,000 points if you spend $4,000 within three months of opening your account (worth up to $1,125) |
| Earning rewards |
5X points on Chase Travel purchases
5X points on Lyft rides (through March 31, 2025)
3X on dining, select streaming services, and eligible online grocery purchases
2X on non-Chase travel
1X on everything else |
10X points on hotels and car rentals through the Chase portal
10X points on Chase Dining purchases
5X points on flights booked through Chase
3X points on travel and dining
1X points on all non-bonus spending
(Note: You won’t start earning points on travel until the $300 annual travel statement credit is fully spent. The first $300 spent on travel each year will automatically go towards the statement credit)
|
| Value of rewards |
1.25 cents per point when redeeming through Chase Travel, 1 cent per point otherwise |
1.5 cents per point when redeeming through Chase Travel, 1 cent per point otherwise |
| Annual fee |
$95 |
$550 |
| Foreign transaction fees |
None |
None |
| Other benefits |
$50 annual hotel credit
10% annual points bonus
Various partner benefits |
$300 flexible travel credit annually
Airport lounge access & complimentary guest passes
Global Entry/TSA PreCheck fee credit
Valuable partner benefits |
| Learn more |
Read our Chase Sapphire Preferred review |
Read our Chase Sapphire Reserve review |
Why you might want to get the Sapphire Preferred
One of the most obvious advantages the Preferred has over the Reserve is its annual fee— over $450 less. In return, the Preferred has fewer benefits but it may still be the best choice. If you’re a casual traveler or prefer to stay on land, the airport lounge access and travel credit of the Reserve may not be worthwhile. Instead, you may benefit more from the Preferred’s smaller (and thereby more easily utilized) hotel credit and an annual points bonus, so you can rack up points over time and take a big trip when you want to.
Bottom line: The Sapphire Preferred is best for infrequent to semi-frequent travelers who want to earn points on everyday purchases.
Why you might want the Sapphire Reserve instead
If you travel a lot (especially flying) and spend a pretty penny on travel each year, then the idea of airport lounge access, a Global Entry membership, and an annual travel credit could put the Sapphire Reserve in the winner’s circle. On top of that, the points earned on the Sapphire Reserve are worth more than the Preferred. If you book your travel through the Chase Travel portal, the Reserve’s points are worth 1.5 cents each, while the Preferred’s are only worth 1.25 cents each.
Bottom line: The Sapphire Reserve is best for frequent travelers who spend a lot of time and money at airports.
Should I get both Chase cards?
Because the perks crossover quite a bit and they both come with an annual fee, it’s probably not ideal to get both Chase cards. Instead, consider opting for one of these cards and then get a card with completely different benefits so you can further optimize your earnings and rewards.
Additionally, Chase has the unpublished 5/24 rule which makes people who have been approved for 5 or more credit cards in the last 24 months ineligible to get a Chase card. So if you’ve already gotten 4 cards in the last 2 years, you can only choose one of these two. If you’ve already gotten 5, you should probably look at a different issuer.
Chase Sapphire Preferred vs. Reserve: Welcome bonus
Winner: Chase Sapphire Reserve
Both of these Chase credit cards offer a sign-up bonus. In fact, the bonus points you can earn with either card are the same. After spending $4,000 with your card within the first three months of opening your account, you earn 75,000 bonus points.
However, the Chase Sapphire Reserve card edges ahead in this category based on redemption value. When you redeem points earned with a Reserve card through the Chase Travel portal program, they’re worth slightly more than the same number of points earned with a Preferred card. Chase Ultimate Rewards points earned with the Reserve card can be redeemed for 1.5 cents per point, while Preferred points are worth 1.25 cents per point.
This makes the welcome bonus worth a potential $1,125 in travel rewards for Reserve cardholders and worth a potential $900 in travel rewards for Preferred cardholders.
Chase Sapphire Preferred vs. Reserve: Earning rewards
Winner: Sapphire Reserve
The Chase Sapphire Reserve card packs a bigger punch when it comes to travel rewards. You can earn them faster and on more travel purchases, and when you redeem them via the Chase portal, they’re worth more than Preferred card rewards. For frequent travelers, there’s a clear winner.
If you’re not a frequent traveler, the Sapphire Preferred card provides a few reward opportunities for everyday spending that might make it a better all-around card for your wallet.
Overall, we chose the Reserve for this category because it earns more on travel, and these are travel cards after all.
Here’s how they stack up:
The Chase Sapphire Preferred Card earns 5X points per dollar on travel purchased through Chase Travel℠, 3X points on dining, select streaming services, and online grocery purchases (excluding Walmart, Target, and wholesale clubs), 2X points on non-Chase travel purchases, and 1X points on other purchases. On top of that, Preferred cardholders get a 10% anniversary bonus, so if you spend $10,000 in the year, you’ll get an extra 1,000 points just for being a cardholder.
The Chase Sapphire Reserve® earns 5X points per dollar on flights and 10X points on hotels and car rentals through Chase Travel℠ (after the first $300 is spent on travel purchases yearly). They also earn 10X points on Chase Dining purchases, 3X points on non-Chase travel and dining, and 1X points on all other purchases.
Chase Sapphire Preferred vs. Reserve: Redeeming rewards
Winner: Chase Sapphire Reserve
With either card, you accrue Chase Ultimate Rewards points. You can use those points to purchase gift cards or get a statement credit. Either of these options nets you a value of 1 cent per point.
However, you’ll maximize point values with both cards by redeeming points through the Chase portal for travel bookings. In this case, points earned with the Reserve card are worth slightly more. Points on the Sapphire Reserve are worth 1.5 cents each through Chase Travel, while points on the Preferred are only worth 1.25 cents each.
Which is better for transferring rewards?
With either card, you can take advantage of a 1:1 point transfer option. If you’re a loyalty rewards member with a leading travel program, such as United MileagePlus or the IHG Rewards Club, you can transfer your credit card points to those programs. So, for example, if you have 5,000 Chase Ultimate Rewards points, you could transfer them and get 5,000 IHG Rewards Club points. This provides some flexibility in how you manage and maximize your points value.
Chase Sapphire Preferred vs. Reserve: Travel perks
Winner: Chase Sapphire Reserve
These are both travel rewards cards, so you can expect a variety of hotel, airline and other travel perks regardless of which you hold in your wallet.
Overall, the Reserve perks outweigh the Preferred perks in quantity and quality, but that may differ when you consider individual factors, such as which hotel chains you prefer to stay with.
Airport lounge access
The Sapphire Reserve card provides access to a complimentary Priority Pass Select membership. That equates to entry into VIP airport lounges across the globe. You can bring two guests with you for free. You’ll need to activate this membership after receiving your credit card to use this perk. Sapphire Preferred cardholders don’t get any airport lounge access benefits.
Travel insurance and coverage
Sapphire Preferred cardholders who pay for travel bookings with their credit card can enjoy peace of mind thanks to trip cancellation and interruption insurance, auto rental collision damage coverage, baggage delay coverage, and trip delay coverage.
Reserve cardholders get all of the same Chase travel insurance benefits as Preferred cardholders, in addition to lost luggage reimbursement, roadside assistance, emergency evacuation and transportation coverage, and up to $2,500 in emergency medical and dental travel benefits.
TSA or Global Entry fee coverage
If you have a Chase Sapphire Reserve card, you can get a statement credit every four years to help cover the cost of either NEXUS, TSA PreCheck or Global Entry. The statement credit is up to $100. Sapphire Preferred cardholders don’t get this benefit.
Hotel access
Chase Sapphire Preferred cardholders get special perks at Ennismore Hotel Properties. If you book with your card and stay more than three nights, the fourth night is free. You can also get $30 in beverage and food credits and various potential free upgrades.
Reserve cardholders can book with The Luxury Hotel & Resort Collection to get access to free upgrades, breakfast and other special benefits.
Annual travel credit options
The Reserve card offers a $300 travel credit to cover qualifying travel expenses annually. It can be redeemed on various travel purchases, including airline and hotel bookings. In contrast, the Preferred card offers a $50 statement credit each year toward hotel stays.
Chase Sapphire Preferred vs. Reserve: Other benefits
Winner: Chase Sapphire Reserve
The Chase Sapphire Reserve is a pretty clear winner in this category.
It offers more than $1,000 in partnership benefits, including:
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Lyft: Up to two years of Lyft Pink All-Access, when activated by December 31, 2024
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DoorDash: Minimum 12 months of complimentary DoorDash subscription, when activated by December 31, 2024
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More DoorDash: $5 in credits for DoorDash purchases monthly through December 2024
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Instacart: Up to a year of complimentary Instacart membership, when activated by July 31, 2024
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More Instacart: Up to $15 in credits for Instacart purchases monthly through July 2024
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Peloton: 10x points on Peloton purchases through March 31, 2025, as long as those purchases are more than $150
The Preferred card gets you a complimentary DoorDash subscription and six months of Instacart. You can also get a $15 credit for Instacart purchases, but it’s quarterly instead of monthly. You don’t get a Lyft membership, but you can earn 5x points on Lyft and Peloton purchases through March 2025.
Chase Sapphire Preferred vs. Reserve: Fees
Winner: Chase Sapphire Preferred
At this point, you might think the Chase Sapphire Reserve card is the no-brainer choice for your wallet. However, it’s not enough for a card to have a lot of perks and rewards benefits that you like. The right credit card for you is also affordable, which means it has rates and fee structures you can live with.
The Chase Sapphire Preferred card has a $95 annual fee, in comparison to the Chase Sapphire Reserve’s $550 annual fee. Additionally, it costs $75 per additional authorized user on Sapphire Reserve, whereas authorized users are free to add on the Preferred.
Neither card has any foreign transaction fees.
Chase Sapphire Preferred vs. Reserve: Eligibility
Winner: Chase Sapphire Preferred
You’ll need good to excellent credit to get approved for either of these cards, which is common with higher-end travel rewards cards. However, you typically need a higher credit score to get approved for the Reserve card than the Preferred.
Eligibility for the cards also takes into account other factors, including your income and current debt load. There isn’t an exact formula you can use to determine whether you will be approved for one card or the other, but you can consider the Reserve card more exclusive.
Bottom line: Should I get the Chase Sapphire Preferred or Reserve?
If you’re looking for a high-end travel card with plenty of perks and the ability to rack up rewards quickly on travel spending, opt for the Chase Sapphire Reserve card.
However, those who want a solid travel card but know they won’t be able to utilize the Reserve’s premium perks may want to consider the Preferred card. The lower annual fee also makes it easier to benefit from the rewards you do earn with this card.
