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Both of the Chase Sapphire Preferred and Chase Sapphire Reserve cards offer huge value and extensive travel perks. Here's how they stack up.
Chase Sapphire Preferred® Card
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5.0
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| FinanceBuzz value calculation1 | Year 1: $1,486 Year 2: $789 (Using 1.25 cents/point valuation) |
Year 1: $2,023 Year 2: $1,123 (Using 1.5 cents/point valuation) |
| Annual fee | $95 | $550 |
| Welcome bonus | Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening after account opening | Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening after account opening |
| Redemption methods | 1.25 cents per point on travel booked through Chase; 1 cent per point on cash back and gift cards | 1.5 cents per point on travel booked through Chase; 1 cent per point on cash back and gift cards |
| Statement credits | Up to $50 hotel credit each account anniversary for bookings via Chase Travel℠ | Up to $300 annual travel credit |
| Foreign transaction fees | None | None |
| Credit needed | Excellent, Good | Excellent |
| Apply now or read our review | Apply now or read our review |
When to go with the Chase Sapphire Preferred® Card
The Chase Sapphire Preferred might be the best choice for you if:
- You don't have excellent credit
- You aren't a frequent traveler
- You shy away from high annual fees
Let's dive into each of these a little more.
Credit score
While the Chase Sapphire Preferred is designed for consumers with good or excellent credit, the Chase Sapphire Reserve typically requires excellent credit. A good credit score generally starts at a score of 700, and an excellent credit score is often 750 or higher. If you don't have excellent credit, you may have a better chance of getting approved for the Preferred.
Travel habits
The more often you travel, the more benefits you’ll get out of either card. For frequent flyers, the Chase Sapphire Reserve is a juggernaut of value. Between the expedited security checks, complimentary airport lounge access, and annual travel credit, the annual fee likely won’t feel like a burden.
But if you want a better everyday card or don't travel as often, you might be better off with the Chase Sapphire Preferred. You'll still get access to the Chase Travel program which is arguably the most versatile rewards program in the credit card industry. But, when using your points to book travel, including airfare and hotel stays, through the Chase travel rewards portal, you’ll get 25% more value with the Chase Sapphire Preferred Card vs. 50% more value with the Chase Sapphire Reserve Card.
Feelings about fees
Regardless of how much value you can get with the Chase Sapphire Reserve, a $550 annual fee may just be too much for some to stomach. Also, getting a lot of value is nice, but the annual fee has to be paid in full once a year. If your budget is tight and you don’t have a lot of savings to spare, it might not be possible.
So if you want a great travel rewards card but with a modest fee, the Chase Sapphire Preferred may be a better choice, especially when you factor in its $50 hotel credit every account anniversary.
Learn more in our Chase Sapphire Preferred review.
When to go with the Chase Sapphire Reserve®
The Chase Sapphire Reserve might be the best choice for you if:
- You want access to airline lounges
- You want premium travel protections
- You'll get enough value to cover the annual fee
Airport lounges
The Sapphire Reserve's complimentary Priority Pass Select membership grants you access to over 1,300 airport lounges worldwide. This allows you to escape the crowded terminal and enjoy free food, drinks, and Wi-Fi.
However, it's important to know that Priority Pass lounge access isn't unique to the Reserve and these lounges have become quite crowded (at least in the U.S) in recent years. Luckily, Chase is beginning to open some truly premium lounges in airports just for Chase Sapphire Reserve cardholders. These Sapphire Lounges have elevated menus and drinks, less crowding, and comfortable seating. Lounges are open in a few airports already like Boston, LaGuardia, and JFK with more opening soon in Philadelphia, Las Vegas, Phoenix, San Diego, and more.
Travel protections
Both Sapphire cards offer travel insurance benefits, but the Reserve's benefits are more extensive.
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Chase Sapphire Preferred® Card |
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Chase Sapphire Reserve® |
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| Trip delay reimbursement | Yes | Yes |
| Trip cancellation/ interruption insurance | Yes | Yes |
| Baggage delay insurance | Yes | Yes |
| Lost luggage reimbursement | Yes | Yes |
| Auto rental collision damage waiver | Yes | Yes |
| Emergency evacuation and transportation | No | Yes |
Both cards offer primary rental car insurance which can be a big cost-saver if you plan to rent a car on vacation. This means if you have a personal auto insurance policy that covers rental cars, you don’t need to submit a claim with that insurer first.
In some cases, the Reserve's coverage is more extensive. For example, while both cards have trip delay coverage, the Reserve's coverage kicks in after a six-hour delay while the Preferred's coverage is only after a 12-hour delay.
View a full comparison of Chase Sapphire travel insurance benefits.
Annual fee
At first glance, the annual fee for Chase Sapphire Reserve might feel a little shocking. But, when you look under the hood, it's not crazy and it's quite easy to get enough value to justify it.
$300 annual travel credit: I tend to discount credits offered by credit cards because they're usually pretty hard to use. But, not this one. I use the $300 credit without any thought every year. "Travel" is broadly defined for this credit and includes things like parking, tolls, and taxis, as well as airfare, hotels, cruises, and car rentals. No matter what kind of travel you have planned, you'll likely use this credit pretty quickly and offset more than half of the card's annual fee.
Earning potential: FinanceBuzz editors calculate the year one value for the Chase Sapphire Reserve to be a hefty $2,023. To calculate these values, we used a valuation of 1.5 cents per point and looked at points earned via spending, the welcome offer, and the annual fee.
Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend. If you spend more in bonus categories, you could earn even more. Even if you spend less, it's easy to see that the value you get can easily outweigh the $550 annual fee.
Learn more in our Chase Sapphire Reserve review.
A closer look at the welcome bonuses
It can be deceiving to compare the welcome bonuses between these two cards because of the difference in the value of points when redeemed for Chase travel. Remember the Chase Sapphire Preferred allows you to redeem your points for 25% more value through the Chase Travel while the Chase Sapphire Reserve gives you 50% more value.
In this hypothetical example, let's say both cards have a welcome offer of 50,000 bonus points. With the Preferred, that bonus would be worth $625 when the points are redeemed for travel (50,000 x $0.0125) whereas with the Reserve, the bonus would be worth $750 (50,000 x $.015). Be sure to do the math when comparing bonuses to get the full picture.
Why not get both Sapphire cards?
Sometimes the answer to which card to get is "both." But, that's not the case here.
While both credit cards are worthy of consideration, Chase only allows you to have one card in the Sapphire family at a time. So it’s important to take some time to consider which one is the best option for you before you apply.
FAQ
Do either the Chase Sapphire Reserve or Chase Sapphire Preferred have purchase protection?
Both the Chase Sapphire Reserve and Chase Sapphire Preferred offer purchase protection, which covers new purchases against damage and theft within 120 days of the purchase. The Sapphire Preferred offers up to $500 in purchase protection per claim and up to $50,000 total per account. The Chase Sapphire Reserve offers up to $10,000 in purchase protection per claim and up to $50,000 total per account.
Should I upgrade my Chase Sapphire Preferred to a Reserve?
It could make sense to upgrade your Chase Sapphire Preferred to a Chase Sapphire Reserve if you want to take advantage of the Sapphire Reserve’s additional perks and benefits. This could include the $300 annual travel credit and a complimentary Priority Pass membership.
In addition, if you want to get more bang for your buck with Chase Ultimate Rewards points, your travel redemptions on the Sapphire Reserve are worth 50% more, whereas they’re worth only 25% more on the Sapphire Preferred.
Bottom line
The Chase Sapphire Preferred and the Chase Sapphire Reserve are the cream of the crop when it comes to travel rewards credit cards. These are the two cards I always recommend first when someone is looking for a travel card.
Neither credit card is inherently better than the other. If you aren't scared away by the annual fee, the Reserve offers premium value and is hard to beat. If you don't need the extras or want to avoid the big annual fee, the Preferred is the way to go. Either way, you can't go wrong.
Great for Flexible Travel Rewards
Current Offer
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Annual Fee
$95
Rewards Rate
5X points on travel purchased through Chase Travel℠; 3X points on dining, select streaming services, and online groceries; 2X points on all other travel purchases, and 1X points on all other purchases
Premium Travel Benefits
Current Offer
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
Annual Fee
$550
Rewards Rate
5X points on flights and 10X points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually; 3X points on other travel and dining & 1X points per dollar on all other purchases