The Chase Sapphire Preferred and Chase Sapphire Reserve are two of the most popular travel rewards credit cards on the market. Both offer excellent benefits, but they cater to different types of users. The Preferred is a mid-tier card with a lower annual fee, while the Reserve offers more premium perks at a higher cost. Let’s break down the key differences between the two to help you decide which card is worth it for you.
1. Annual Fees
Chase Sapphire Preferred:
- Annual Fee: $95
Chase Sapphire Reserve:
- Annual Fee: $550
The Reserve has a significantly higher annual fee, but it comes with premium travel benefits that can offset this cost if you use them regularly. The Preferred is much more affordable for those who want a solid travel card without a high upfront cost.
2. Sign-Up Bonus
Chase Sapphire Preferred:
- 60,000 bonus points after spending $4,000 in the first three months. This is worth $750 when redeemed through Chase Ultimate Rewards for travel (1.25x value).
Chase Sapphire Reserve:
- 60,000 bonus points after spending $4,000 in the first three months. This is worth $900 when redeemed through Chase Ultimate Rewards for travel (1.5x value).
Both cards offer the same number of bonus points, but the Reserve offers more value per point when redeeming for travel through the Chase Ultimate Rewards portal. If you travel frequently and use Chase’s portal for bookings, the Reserve makes those points go further.
3. Earning Rates on Purchases
Chase Sapphire Preferred:
- 5x points on travel purchases made through Chase Ultimate Rewards.
- 3x points on dining, online grocery purchases (excluding Walmart and Target), and select streaming services.
- 2x points on other travel purchases.
- 1x point on all other purchases.
Chase Sapphire Reserve:
- 10x points on hotels and car rentals through Chase Ultimate Rewards.
- 5x points on flights through Chase Ultimate Rewards.
- 3x points on travel and dining.
- 1x point on all other purchases.
The Reserve offers higher earning rates, especially on travel booked through Chase’s portal, and even for dining, which makes it a better option for frequent travelers and food enthusiasts.
4. Travel Credit
Chase Sapphire Preferred:
- No travel credit.
Chase Sapphire Reserve:
- $300 annual travel credit: This automatically applies to a wide variety of travel expenses, including flights, hotels, rideshares, public transit, and more.
The $300 travel credit is one of the standout benefits of the Reserve. This credit effectively reduces the card’s annual fee to $250 if you use the full amount each year, making it more reasonable for frequent travelers.
5. Point Redemption Value
Chase Sapphire Preferred:
- Points redeemed for travel through Chase Ultimate Rewards are worth 1.25 cents per point.
- Points transferred to airline or hotel partners retain full value.
Chase Sapphire Reserve:
- Points redeemed for travel through Chase Ultimate Rewards are worth 1.5 cents per point.
- Points transferred to airline or hotel partners retain full value.
While both cards allow you to transfer points to Chase’s 14 travel partners, the Reserve gives you 50% more value when booking travel directly through Chase. This makes the Reserve more appealing for those who frequently use Chase’s portal for travel redemptions.
6. Travel and Purchase Protections
Chase Sapphire Preferred:
- Primary rental car insurance.
- Trip cancellation/interruption insurance (up to $10,000 per trip).
- Trip delay reimbursement (up to $500 per ticket if your trip is delayed by more than 12 hours).
- Baggage delay insurance (up to $100 per day for 5 days).
Chase Sapphire Reserve:
- Primary rental car insurance.
- Trip cancellation/interruption insurance (up to $10,000 per trip).
- Trip delay reimbursement (up to $500 per ticket if your trip is delayed by more than 6 hours).
- Baggage delay insurance (up to $100 per day for 5 days).
- Emergency evacuation and transportation coverage (up to $100,000).
Both cards offer strong travel protections, but the Reserve edges out the Preferred with faster trip delay coverage and emergency evacuation benefits. If you travel internationally or frequently, these added protections can be a significant perk.
7. Lounge Access
Chase Sapphire Preferred:
- No lounge access.
Chase Sapphire Reserve:
- Priority Pass Select membership: Provides access to over 1,300 airport lounges worldwide.
Lounge access is a major selling point of the Reserve, offering a comfortable space to relax before flights. If you value airport lounge access, the Reserve is the clear winner.
8. Additional Benefits
Chase Sapphire Preferred:
- DoorDash: Free DashPass subscription for a minimum of one year (saves on delivery fees).
- Lyft: 5x points on Lyft rides through March 2025.
Chase Sapphire Reserve:
- DoorDash: $5 monthly credit and free DashPass for one year.
- Lyft: 10x points on Lyft rides through March 2025.
- Global Entry/TSA PreCheck: $100 statement credit for application fees every four years.
- Access to Chase Sapphire Private Dining and Events: Exclusive invitations to curated dining experiences and other events.
The Reserve provides more perks and partnerships, particularly with travel-related services like Global Entry/TSA PreCheck, which can save you time and money when flying.
Which Card is Worth It?
Chase Sapphire Preferred:
- Best for casual travelers or those new to the world of travel rewards.
- If you don’t travel frequently but still want to earn points on dining, travel, and everyday spending without a high annual fee, the Preferred offers a great balance of rewards and affordability.
- The lower annual fee of $95 makes it an appealing option for those who might not fully utilize the premium benefits of the Reserve.
Chase Sapphire Reserve:
- Best for frequent travelers who can take advantage of the $300 travel credit, Priority Pass lounge access, and higher point redemption value through Chase’s travel portal.
- If you frequently travel and dine out, the Reserve provides significantly more value through higher earning rates, better point redemption, and travel perks that justify the $550 annual fee.
- The $300 travel credit and various perks effectively reduce the out-of-pocket cost, making the card worthwhile for those who travel several times a year.
Conclusion
- Go with the Chase Sapphire Preferred if you’re a moderate traveler who wants a solid travel rewards card with a low annual fee.
- Opt for the Chase Sapphire Reserve if you’re a frequent traveler who can make the most of the premium perks like lounge access, the $300 travel credit, and higher point value for travel redemptions.
Both cards offer excellent value, but your decision should be based on how often you travel and how much you plan to take advantage of the added benefits.