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Chase Sapphire Preferred vs. Reserve: Ultimate Showdown

Chase Sapphire Reserve® review Chase Sapphire Preferred® Card review
Chase Sapphire Reserve®
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Key Information
Earn 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, and 1X points on all non-bonus spending. This card has a $550 annual fee.
Chase Sapphire Preferred® Card
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Key Information
Earn 5X points on travel booked through Chase, 3X points on dining, online grocery purchases, and select streaming services, and 1X points on other purchases. This card has a $95 annual fee.
KEY TAKEAWAYS
  • The Chase Sapphire Reserve® and Chase Sapphire Preferred® Card both offer travel rewards, including options for earning 1x to 10x points on eligible purchases.
  • They have similar sign-up bonuses, but the points you earn with the Reserve card are more valuable when redeemed through Chase for travel.
  • The Chase Sapphire Reserve card has more overall benefits and perks than the Preferred card.
  • The Preferred card may be better for casual travelers, with a lower annual fee and still generous benefits.
  • The Reserve card’s much higher annual fee makes it a specialty card that is best for truly frequent travelers.
SUMMARY

When comparing premium credit cards like the Chase Sapphire Reserve® and Chase Sapphire Preferred® Card, it’s important to consider factors such as welcome bonuses, rewards, travel perks, and fees. While the Reserve card excels in rewards and travel perks, it may not be the best choice for everyone due to its higher annual fee. This comparison breaks down both cards to help you decide which one fits your financial needs and lifestyle best.

We’ll explore the answers to these questions:

  • Which of these cards offers the best rewards structure and benefits?
  • Which card has the best rates and fees?
  • Who should apply for which of these cards?

Chase Sapphire Preferred vs. Reserve: Which card is better?

When considering the Chase Sapphire Reserve® and Chase Sapphire Preferred® Card, you have to delve deep into factors such as rewards, sign-up bonuses and benefits like travel credits, lounge access and travel insurance to determine which is the best credit card for you.

Overall, the Chase Sapphire Reserve card wins more categories in this review, but the Sapphire Preferred may be a better option for the casual traveler.

This table gives an overview of which card performs better per category.

Category Winner
Welcome bonus Chase Sapphire Reserve
Rewards Chase Sapphire Reserve
Travel perks Chase Sapphire Reserve
Other benefits Chase Sapphire Reserve
Rates and fees Chase Sapphire Preferred
Eligibility Chase Sapphire Preferred

Why should I get the Chase Sapphire Preferred card?

The Chase Sapphire Preferred card has an annual fee that’s more than five times less than the fee for the Reserve card. Unless you know you’ll use $550 in travel perks or earn and redeem more than that in rewards, the Preferred card is the economical choice. It also works better as a daily spending card because it offers rewards options for grocery purchases and other day-to-day purchases.

Why should I get the Chase Sapphire Reserve card?

The Chase Sapphire Reserve card offers some truly impressive travel perks. If you take multiple trips each year or travel a lot for business, you can probably max out the benefits to more than make up for the high annual fee.

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 a card with completely different benefits so you can optimize what you get from your financial tools.

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Chase Sapphire Preferred vs. Reserve: Welcome bonus

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 60,000 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 $900 in travel rewards for Reserve cardholders and worth a potential $750 in travel rewards for Preferred cardholders.

Chase Sapphire Preferred vs. Reserve: Rewards

Both cards offer numerous ways to earn rewards, and frequent travelers can stack points pretty quickly regardless of which of these rewards cards they hold. 

The true winner in this category depends partly on how you spend, and looking closely at the details can help you determine which might be right for you. However, based on the details below without any personal preferences, the Reserve card takes the win for the best rewards credit card.

Which is better for earning rewards?

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 rewards opportunities for everyday spending that might make it a better all-around card for your wallet.

You can see the rewards structure for each card in this table.

Chase Sapphire Preferred Chase Sapphire Reserve
5x points when you use the card to book travel through Chase Travel℠ — not including any charges that are covered by annual hotel credits 10x points when you use the card to book hotels or car rentals through Chase — excluding the first $300 in travel bookings each year and any stays with The Luxury Hotel & Resort Collection
3x points when you use the card to pay for dining expenses, including qualifying takeout and delivery charges 10x points when you purchase Chase Dining options with Chase Ultimate Rewards
3x points when you use the card to pay for groceries at supermarkets (but not at wholesale clubs, Target or Walmart) 5x points when you book flights through Chase Travel℠ and pay with your card — excluding the first $300 in travel expenses each year
3x points when you cover streaming service charges and subscription fees with your card 3x points when you use your card to cover restaurant-based dining expenses, including qualifying takeout and delivery charges
2x when you use the card to cover travel not purchased through Chase Travel℠ 3x points on other qualifying travel expenses covered with your card that are not included in a category above
1x points on other qualifying purchases 1x points on other qualifying purchases

The Sapphire Preferred card also offers an anniversary bonus point benefit. Each year, you can earn 10% points on your total spending for that year. For example, if you spend $10,000 in a given year, you could earn 1,000 extra points.

It’s important to note that you won’t start earning travel rewards on the Sapphire Reserve card 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.

Which is better for redeeming rewards?

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. Or in other words, 50,000 points is a $500 statement credit, and 5,000 points is a $50 gift card. You can also redeem points on merchandise.

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.

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

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.

Travel insurance and coverage

Preferred cardholders who pay for travel bookings with their credit card can enjoy peace of mind thanks to:

1

Trip cancellation and interruption insurance

You can get reimbursed for lost travel expenses in qualifying situations up to $10,000 per person (and a total of $20,000 per trip).

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2

Auto rental collision damage coverage

Save on car rental expenses by skipping the insurance offered by the rental company thanks to included coverage when you pay for the rental with your card.

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3

Baggage delay coverage

You can get $100 a day for delayed bags up to five total days.

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4

Trip delay coverage

If your trip is delayed for a qualifying reason, causing you to spend on a hotel or other overnight accommodations, you can get reimbursement for some or all of those expenses.

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Reserve cardholders have access to all the Chase Sapphire travel insurance perks Preferred cardholders do 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.

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 claimed on a variety of travel spending, 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

The Chase Sapphire Reserve is a pretty clear winner in this category. 

It offers more than $1,000 in partnership benefits, including:

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: Rates and fees

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.

What fees do these cards charge?

You can see in the table below that the only significant difference between these cards when it comes to fees is the annual fee, but that’s a significant difference.

Chase Sapphire Preferred Fees vs. Chase Sapphire Reserve Fees

Fee type Sapphire Preferred Sapphire Reserve
Annual fee $95 $550 plus $75 for any additional authorized users you add
Balance transfer fee 5% of the transfer or $5, whichever is greater 5% of the transfer or $5, whichever is greater
Cash advance fee 5% of the withdrawal or $10, whichever is greater 5% of the withdrawal or $10, whichever is greater
Foreign transaction fee None None
Late payment fee Up to $40 Up to $40
Return payment fee Up to $40 Up to $40

The takeaway here is that the Sapphire Reserve card is only a good idea for frequent travelers who will maximize rewards so they cover the annual fee and benefit on top of that.

What rates can you expect?

When it comes to APR, the Preferred card has a slight advantage as well, with a range that is a percentage point below its competitor on most APR types.

Chase Sapphire Preferred Rates vs. Chase Sapphire Reserve Rates

APR type Sapphire Preferred Sapphire Reserve
Regular APR 21.49% to 28.49% variable APR 22.49% to 29.49% variable APR
My Chase Loan APR 21.49% to 28.49% variable APR 22.49% to 29.49% variable APR
Balance transfer APR 21.49% to 28.49% variable APR 22.49% to 29.49% variable APR
Cash advance APR 29.99% variable APR 29.99% variable APR

Chase Sapphire Preferred vs. Reserve: Eligibility

You’ll need decent 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.  

Should I get the Chase Sapphire Preferred or Reserve card?

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.

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How do I upgrade from Chase Sapphire Preferred to Reserve?

Cardholders that start with the Preferred card can choose to upgrade to a Reserve card later. 

You should first weigh the perks and benefits of the Reserve card with the hefty $550 annual fee. If you think the benefits outweigh the cost — and you’ve had your Preferred card for one year and are an account holder in good standing — you can call the customer service number on your credit card and ask to be considered for an upgrade.

FAQ: Chase Sapphire Preferred vs. Reserve

Is Chase Sapphire Preferred or Reserve better?

The Reserve card offers many more travel perks and benefits. It also has a rewards structure that makes it easier to earn more rewards when spending on travel. However, it also comes with a much higher annual fee, and you may only be able to maximize rewards if you are a frequent traveler. So, the Reserve card may be better for travelers, while the Preferred card is better as an everyday spending card.

Can you upgrade from Chase Sapphire Preferred to Reserve?

Yes, if you’ve had your Preferred card for a year and are a card member in good standing, you may be able to upgrade to a Reserve card. You’ll have to meet the credit requirements, but you can call Chase card customer service to ask about options for upgrading.

Can I combine my rewards points from the Chase Sapphire Reserve and Preferred?

You can pool your Chase Ultimate Rewards points into a single account if you have multiple Chase credit cards that accrue points.

Sarah Stasik
Sarah Stasik Personal Finance

Sarah Stasik is well versed in personal finance thanks to her previous role as a Revenue Cycle Manager for a Fortune 500 healthcare company. Using her inside knowledge and expertise, Sarah often covers topics ranging from insurance and the economics of private healthcare to personal finance and small business management.

Over the past 12 years, Sarah has contributed to numerous publications in the personal and small business finance sector, including content on budgeting, bankruptcy, small business accounting, and financial tech. Her writing focuses on making complex or seemingly daunting financial topics more accessible and providing helpful, relevant resources for readers.

* Opinions expressed here are those of the LA Times Compare Cards Team and have not been reviewed or approved by any advertiser or entities included within this content. See our editorial policy for more details.

All products or services are presented in this content without warranty. The information, including card details such as rates and fees, is accurate at the time of publish. Please visit each bank's website directly for the most current information.

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