Chase Sapphire Preferred Card vs. Chase Sapphire Reserve

Chase’s Sapphire duo comprises two of the best cards on the market for travelers, but narrowing down your own travel and spending needs can help determine whether the Chase Sapphire Preferred® Card or Chase Sapphire Reserve® is best for you.

With a $95 annual fee, the Chase Sapphire Preferred is the more approachable of the two travel credit cards. The Sapphire Reserve is the more premium option, with a $550 annual price tag to match. Both cards earn rewards on travel and dining plus a competitive signup bonus.

Making the choice between the Chase Sapphire Preferred vs. Sapphire Reserve comes down to your own spending habits and determining which will offer the most long-term value for you. Here are some things to consider:

Main details

Chase Sapphire Preferred vs. Chase Sapphire Reserve highlights

Which card earns the most?

Chase Sapphire Preferred vs. Chase Sapphire Reserve spending example

Ultimately, the Reserve is the Sapphire card with the potential to earn the highest rewards, but you’ve got to be willing to spend. If you can take full advantage of the benefits and much of your spending is focused on dining and travel, you’ll easily earn back the Reserve’s steep $550 annual fee. If those credits aren’t useful for you, though, the Preferred will likely be of much more value.

Disregarding the credits, say you spend $20,000 each year on your card ($8,000 at restaurants, $8,000 on travel and $4,000 on miscellaneous other spending).

With the Sapphire Preferred, that would equal 40,000 total points on general dining and travel purchases and 4,000 on everything else for a total 44,000 points. That’s equal to about $550 in value when you redeem through Chase Travel with the 25 percent boost.

With the Reserve, though, your spending would bring in 48,000 points on general dining and travel purchases and 4,000 points for your other spending — bringing you to a total of 52,000 points. With the 50 percent boost you can get when redeeming points through Chase Travel, that’s about $780 in total value. Keep in mind that in order to earn the Sapphire Reserve’s 3X points on travel purchases (or boosted points through Chase Travel purchases), you first need to earn the $300 travel credit.

Using this example and subtracting the annual fee, the Preferred card’s annual value is about $455. The Reserve’s value is about $230. However, as your spending increases, you redeem the Reserve’s annual credits (including the $300 annual travel credit) and utilize the full rewards spectrum, the value of the card improves significantly. Use your own spending as a guide to help determine which Sapphire card can help you best maximize your spending.

Why you should get the Chase Sapphire Preferred Card

If you travel a decent amount throughout the year but aren’t necessarily boarding a plane every few weeks (or if traveling in style isn’t your top priority), the Preferred is likely the right Sapphire card for you. A great rewards structure with flexible redemptions can easily make the reasonable $95 annual fee worth it. This is an especially great card for beginners looking to dip their toes into the world of travel rewards credit cards.

Additional benefits

The Chase Sapphire Preferred offers a wide breadth of travel insurance, from trip cancellation and interruption insurance to baggage delay insurance. You’re also protected with auto rental collision damage for vehicles you rent using your card. And if your travel is put on hold for more than 12 hours, or delays necessitate an overnight stay, the card offers trip delay reimbursement of up to $500 per ticket. A $50 annual credit toward hotel stays is also available on hotel stays booked through the Chase Travel portal.

Redemption options

With the Sapphire Preferred card, you can redeem your points for cash back, statement credits, gift cards, merchandise and Chase Experience events. You can also redeem your points for travel purchases or transfer points 1:1 with partner airlines and hotels. Additionally, you’ll enjoy a 25 percent rewards boost when you redeem your points through the Chase Travel portal.

Recommended credit score

Qualifying for the Chase Sapphire Preferred typically requires a good or excellent FICO credit score between 670 and 850.

Why you should get the Chase Sapphire Reserve

If you spend much of your time each year on a plane and can fully maximize all the added credits and benefits offered by this card, the Reserve is right for you.

Anyone who already frequently spends on rideshare and delivery services, travels often and is looking for lounge access to make long airport waiting periods a little more comfortable will be happy choosing the Reserve.

Additional benefits

The Chase Sapphire Reserve comes with a plethora of perks — including a $300 annual travel credit, a complimentary Lyft Pink membership for a year and free Priority Pass Select lounge access in over 1,300 airports. A free year of Instacart+ and DoorDash DashPass memberships are also available, plus you’ll get up to a $100 credit toward Global Entry or TSA PreCheck application fees once every four years.

Further, the card offers trip cancellation and interruption insurance, emergency evacuation and transportation coverage. And when you use your card to book car rentals, you can receive primary rental car insurance that covers damages before your personal auto insurance does.

Redemption options

Ultimate Rewards points are redeemable in many forms: cash back, statement credits, gift cards, merchandise and travel experiences. Chase’s “Pay Yourself Back” can be another valuable redemption option for select non-travel purchases. Keep in mind, however, that eligible categories and redemption rates vary and are only available for a limited time.

With that said, the most valuable redemption options are to redeem your points for travel purchases — including the 50 percent boost to points on travel booked through Ultimate Rewards and transferring points to high-value Chase travel partners.

Recommended credit score

Because the Chase Sapphire Reserve is a premium travel rewards card, you’ll need an excellent FICO score to qualify. Higher credit scores generally have better odds of approval than lower scores, although approval is never guaranteed.

Which Chase Sapphire credit card should you choose?

Choosing between the Chase Sapphire Reserve vs. Preferred credit cards may come down to how you view the key features and benefits of these two rewards cards. Let’s take a closer look.

How important is the annual fee to you?

Are the extra perks of the premium Chase Sapphire Reserve worth paying the $550 annual fee? If you use the additional benefits and take advantage of bonus categories and rewards, then the higher annual fee may be worth it.

On the other hand, if you won’t use your card enough to offset the annual fee, perhaps the Chase Sapphire Preferred is a better match.

Will you take advantage of the welcome offer?

Right now, the Chase Sapphire Preferred’s welcome offer is a solid 60,000 points once you spend $4,000 in the first three months of account opening. That works out to $750 when redeemed toward travel through Chase Travel.

Despite the higher annual fee, the Chase Sapphire Reserve actually comes with the same welcome offer of 60,000 points (so long as you spend $4,000 within the first three months). However, this bonus is worth $900 toward travel when redeemed through Chase Travel thanks to the 50 percent boost.

Do you want premium-level benefits and perks?

The Sapphire Preferred comes with plenty of rewards value, including 5X points on travel purchases through Chase Travel, travel insurance, consumer protections and more. But, as we’ve discussed, the Chase Sapphire Reserve takes benefits to a whole new level with things like a $300 annual travel credit, airport lounge access and more.

When you should upgrade from the Chase Sapphire Preferred to the Reserve

If you have the Chase Sapphire Preferred, it may be tempting to upgrade to the Sapphire Reserve to take advantage of the card’s many perks. The annual fee ($550) is something to consider, but the value of the benefits may offset — or even negate — the yearly charge for many consumers.

You’ll have to wait a minimum of one year from the date you opened your Sapphire Preferred account before you can upgrade to Sapphire Reserve. That’s because the CARD Act explicitly mandates that credit card issuers can’t charge cardholders a higher annual fee on the same account within the first year of activation.

Upgrading from the Sapphire Preferred to the Sapphire Reserve is simple; just make a phone call to Chase customer support and request the change. Since you’re just changing products and not applying for a new card, you won’t have to fill out a new application or agree to a hard inquiry on your credit report. Still, you’ll need to meet the Sapphire Reserve’s conditions, including an excellent credit score.

Keep in mind, too, that when upgrading a card you won’t earn a welcome bonus. If you can wait to change up your card, your better option might be to wait 48 months from when you last earned a Sapphire Preferred bonus, downgrade that Sapphire Preferred to a no-annual-fee card and then apply outright for the Reserve card so you are eligible to earn the welcome offer.

The bottom line

Your individual annual travel itinerary and ability to maximize credits is going to be the deciding factor between these cards.

If you want to earn rewards on your dining and travel spending but only travel a few times each year, you’re likely better off paying less for the Chase Sapphire Preferred Card. If you’re a frequent flyer and travel enough to make up for the Reserve’s $550 annual fee, its rewards and benefits are tough to beat.

With either card, pairing it with other Chase cards can help you maximize your rewards earning opportunities.

Both the Chase Sapphire Preferred and the Chase Sapphire Reserve are great travel rewards cards that can help you earn hundreds of dollars in value each year. Still, it is important to consider your specific needs before making a decision.