Chase Sapphire Reserve vs. Preferred: Which Card Is Best for You?
Chase is known for offering some of the best travel credit cards on the market, and the Chase Sapphire cards are worth considering if you’re looking for a rewards card that provides exceptional value.Â
But which is the best Sapphire card for you? Read on for a comparison of the Chase Sapphire Reserve vs. Preferred that can help you decide which card best suits your travel habits and needs.
Chase Sapphire Reserve vs. Preferred: At a Glance
The following table provides a quick look at some of the cards’ key features and benefits, including rewards and travel perks.
| Â | Chase Sapphire Reserve | Chase Sapphire Preferred |
|---|---|---|
| Annual Fee | ||
| APR | ||
| Sign-Up Bonus | – 60,000 points after spending $4,000 on purchases during the first three months after account opening – Worth $900 when used to book travel through Chase |
– 60,000 points after spending $4,000 on purchases during the first three months after account opening – Worth $750 when used to book travel through Chase |
| Point Redemption Value for Chase Travel | 1.5 cents per point | 1.25 cents per point |
| Travel Rewards Highlights | – 5x points on flights booked through Chase* – 10x points on hotels and car rentals booked through Chase* – 3x points on other travel purchases* |
– 5x points on travel booked through Chase* – 2x points on other travel purchases |
| Travel Benefits Highlights | May qualify for reimbursement of expenses related to: – Trip cancellation, interruption or delay – Auto rental damage or collision – Lost luggage |
May qualify for reimbursement of expenses related to: – Trip cancellation, interruption or delay – Auto rental damage or collision – Baggage delays |
| Partner Perks | – Complimentary DashPass from DoorDash – Complimentary 12-month Instacart+ membership – Complimentary two-year Lyft Pink All Access membership |
– Complimentary DashPass from DoorDash – Complimentary six-month Instacart+ membership – $10 monthly statement credit for qualifying Gopuff purchases |
Chase Sapphire Reserve vs. Preferred: Rewards and Credits
Overall, you earn fewer points with the Preferred card, which earns up to 50% less for some Chase Ultimate Rewards purchases. However, the Preferred card awards bonus points that the Reserve card doesn’t offer.
Here is a comparison of points earned per dollar spent in various spending categories.
| Â | Chase Sapphire Reserve | Chase Sapphire Preferred |
|---|---|---|
| Ultimate Rewards Airline Ticket Purchases | 5x* | 5x |
| Ultimate Rewards Hotel Bookings | 10x* | 5x* |
| Ultimate Rewards Car Rentals | 10x* | 5x |
| Other Travel Purchases | 3x* | 2x |
| Ultimate Rewards Dining Purchases | 10x | 3x |
| Other Qualifying Dining, Delivery and Takeout Purchases | 3x | 3x |
| Qualifying Lyft Rides | 10x | 5x |
| Qualifying Online Grocery Purchases | 1x | 3x (excluding wholesale clubs, Walmart and Target) |
| Select Streaming Services | 1x | 3x |
| All Other Purchases | 1x | 1x |
| Points Bonus | None | Annual 10% bonus on previous year’s total purchases |
| Annual Credit | Up to $300 for Ultimate Rewards travel purchases | Up to $50 on Chase Ultimate Rewards hotel bookings |
Chase Sapphire Reserve vs. Preferred: Travel Benefits
An exceptional travel card offers more than attractive travel rewards. The Reserve and Preferred cards also provide the following added perks.
Chase Sapphire Reserve Travel Benefits
Some of the standout Reserve travel perks include:
- Access to more than 1,300 airport lounges with a one-time enrollment in Priority Pass Select
- Reimbursement of up to $10,000 per person and $20,000 per trip for qualifying travel expenses if a trip is canceled or interruptedÂ
- Reimbursement of up to $75,000 for rental car collision damage or theftÂ
- Lost luggage reimbursement of up to $3,000 per passenger if you or an immediate family member suffer from lost or damaged checked or carry-on luggage due to carrier error
- Reimbursement of up to $500 per ticket for your family if travel is delayed more than six hours or requires an overnight stay
Chase Sapphire Preferred Travel Benefits
The Sapphire Preferred doesn’t provide as many travel benefits as the Reserve, but you may find that the following perks will exceed expectations for your travel needs:
- Trip cancellation and interruption insurance limits are the same as the Reserve — up to $10,000 per person and $20,000 per trip for qualifying travel expenses
- Reimbursement for rental car collision damage or theft up to the cash value of the carÂ
- Up to $100 a day for up to five days for baggage delays over six hours to cover the purchase of essentials, such as clothing and toiletriesÂ
- Reimbursement of up to $500 per ticket for your family if travel is delayed more than 12 hours or requires an overnight stayÂ
Choosing the Right Chase Sapphire Card for You
Determining which card is better, the Chase Sapphire Reserve or the Preferred, depends on how you book your travel and how often. Despite its hefty $550 annual fee, the more expensive Reserve can pay off for frequent travelers, particularly for those who use the card to book through Ultimate Rewards.Â
With the $300 annual credit and higher points ratio, the Reserve isn’t much more expensive than the Preferred. However, the Reserve’s annual fee may be steep for those who don’t rack up rewards and may explain why the Chase Sapphire Preferred is so popular.Â
Sapphire Preferred cardmembers get an exceptional sign-up bonus and an annual 10% point bonus, plus an attractive point value for a reasonable $95 annual fee.
When deciding between these cards, you might wonder if qualifying for the Preferred is easier than the Reserve. For instance, you might want to know how much income is required for the Chase Sapphire Reserve.Â
Chase doesn’t provide income requirements for the Sapphire Reserve or Preferred cards within its pricing information, but it states that it will review your credit report and other information from your application to determine card eligibility.
Perhaps you already have a Preferred card and you are trying to determine whether you should switch to the Reserve. You may want the Reserve card if you use the Preferred card to purchase more than $300 in travel through Ultimate Rewards each year — especially if purchases are considerably more than $300. You could earn up to seven times more points on your Ultimate Rewards travel and dining purchases with the Reserve.
Final Take
The Chase Sapphire Reserve and Preferred cards allow frequent travelers to earn significant rewards, especially by booking travel through Ultimate Rewards. If you’re a member of a Chase travel partner’s frequent travel program, you can transfer your Chase points to your travel program for additional savings.
If you don’t travel often, you may benefit more from another type of rewards credit card, possibly one without an annual fee, whether from Chase or a different card issuer.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of July 6, 2023.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
The information related to Chase Sapphire Preferred and Chase Sapphire Reserve was collected by GOBankingRates and has not been reviewed or provided by the issuer of these cards. Product details may vary. Please see the issuer’s website for current information. GOBankingRates does not receive commission for these products.
