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Card Comparisons

Chase Sapphire Preferred vs. Chase Sapphire Reserve

Is the Chase Sapphire Reserve's premium features worth the extra-premium annual fee?

Summary

If you’re opting to apply for the Chase Sapphire Preferred card because the fee is more affordable, we suggest you take a closer look at the Chase Sapphire Reserve – it actually offers a better value for many frequent travelers.

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If you’re searching for a flexible travel card to help fund your next vacation, the Chase Sapphire cards may be your best bet. Both the Chase Sapphire Preferred Card and the Chase Sapphire Reserve card can take you a long way on points, but with drastically different price tags. The Chase Sapphire Preferred card charges $95 per year for card membership, while the Chase Sapphire Reserve card charges a hefty $550 annual fee.

Perhaps you’ve already decided that the Sapphire Reserve’s fee is beyond your means and are ready to apply for the Sapphire Preferred card – we suggest that you pause for a moment and more carefully compare the two cards. Our analysis suggests that the Sapphire Reserve is the better value for many cardholders. Not to mention – thanks to a $300 annual travel credit and other reimbursements that make up for most of the annual fee – it’s a surprisingly affordable option.

By our math, if you spend just over $5,400 per year on travel and restaurant purchases, you’re likely to come out ahead with the Sapphire Reserve card.

Read on to see which card is the better option for you – the Sapphire Reserve or the Preferred.

Chase Sapphire Preferred vs. Chase Sapphire Reserve

CardChase Sapphire Preferred CardChase Sapphire Reserve card
Rewards rate
  • 5 points per dollar on Lyft rides (through March 2022)
  • 2 points per dollar on travel and dining, including eligible delivery services
  • 1 point per dollar on other purchases
  • 10 points per dollar on Lyft rides (through March 2022)
  • 3 points per dollar on travel and dining, including eligible delivery services (excluding purchases covered by $300 travel credit)
  • 1 point per dollar on other purchases
Sign-up bonus
  • 100,000 points if you spend $4,000 in first three months
  • 60,000 points if you spend $4,000 in first three months
Annual fee$95$550
Other benefits
  • Transfer points 1:1 to 13 travel partners
  • Travel insurance
  • 25% bonus on points redeemed for travel through Ultimate Rewards portal
  • Complimentary year of DashPass membership (register by Dec. 31, 2021)
  • Up to $60 back toward Peloton Digital/All-Access Membership (through Dec. 31, 2021)
  • Purchase protection (for purchases within 120 days, up to $500 against theft and damage per claim, up to $50,000 per account)
  • Extended warranty protection
  • Transfer points 1:1 to 13 travel partners
  • Travel insurance
  • 50% bonus on points redeemed for travel through Ultimate Rewards portal
  • Complimentary year of DashPass membership (register by Dec. 31, 2021)
  • Up to $60 in DoorDash credits (through Dec. 31, 2021)
  • Complimentary Lyft Pink membership (through Jan. 31, 2022)
  • Up to $120 back toward Peloton Digital/All-Access Membership (through Dec. 31, 2021)
  • Purchase protection (for purchases within 120 days, up to $10,000 against theft and damage per claim, up to $50,000 per account)
  • Extended warranty protection
  • Return protection
  • $300 annual travel credit
  • Up to $100 Global Entry/TSA PreCheck credit
  • Priority Pass lounge access
  • Car rental perks (see terms)
Who should get this card?
  • Someone who wants a great first-time travel card
  • Someone who can’t afford the Reserve card’s annual fee
  • Someone who wants a $0 annual fee for authorized users
  • Someone who spends at least $5,425 each year on travel and dining
  • Someone who wants the most value in the first year
  • Someone who wants lounge access
  • Someone who wants the best travel perks
  • Someone who wants family-friendly benefits
  • Someone who doesn’t mind a $75 annual fee for authorized users

Chase Sapphire Preferred

The Chase Sapphire Preferred is Chase’s original premium travel card – and a wildly popular one thanks to its generous sign-up bonus and versatile rewards points. New cardholders are treated to 100,000 bonus points for signing up and spending $4,000 in the first three months. Cardholders also get 2 points per dollar on restaurant and dining purchases, including qualifying delivery services, as well as 1 point per dollar on everything else.

Best option for a lower annual fee

If you prefer not to risk the high annual fee on the Chase Sapphire Reserve card – because you’re not certain you can charge enough travel expenses to use the travel credit, or you simply can’t afford $550 – the Chase Sapphire Preferred card is a great option with a lower annual fee.

For $95 a year, you get many of the same features as the Sapphire Reserve card:

  • A fantastic sign-up bonus worth $1,250 when redeemed for travel through the Ultimate Rewards portal.
  • Flexible points that can be redeemed for travel purchases from practically any source.
  • The ability to transfer points 1:1 to 13 travel partners.
  • Fantastic travel protections for its price tag.

That said, be sure to do the math before you opt for the Sapphire Preferred simply because the fee is lower – for many cardholders, the Sapphire Reserve is the better option.

Best option for an entry-level travel rewards card

If you’re just starting out in the world of travel rewards and want to get your feet wet before you dive into a more complex rewards program, the Chase Sapphire Preferred is a great starter card if you have good to excellent credit. Since the Sapphire Preferred’s points transfer to a variety of travel programs, you can learn the workings of a few airline loyalty programs and test out transferring points to miles for a relatively small $95 annual fee. Or, if you decide this is all too complicated and time-consuming for you, you can cash in your points for statement credits and call it a day.

See related: Why the Chase Sapphire Preferred is a great first travel card

Chase Sapphire Reserve

The Chase Sapphire Reserve card is Chase’s luxury-level card with a $550 annual fee. Although the 60,000-point sign-up bonus for spending $4,000 in the first three months is a bit lower than the Sapphire Preferred card’s bonus, you’ll earn more with the Sapphire Reserve’s boosted rewards: 50% extra redemption value toward Chase Ultimate Rewards travel and Pay Yourself Back purchases (compared to 25%), and 3 points per dollar on dining and travel (compared to 2 points).

Best for cardholders who spend more than $5,425 per year on travel and dining

It doesn’t require as much spending as you’d expect to see the value in the Chase Sapphire Reserve, thanks to the card’s 3-point earning rate on dining (including eligible food delivery services) and travel combined with the $300 travel credit you receive each year. Plus, the card added another credit that offers value to those who spend a significant amount on dining – a $60 credit for DoorDash orders in 2021.

If we add the travel and dining credits together with the bonus on dining and travel, we figure that you need to spend roughly $5,425 per year ($452 per month) on dining and travel to break even with the Sapphire Preferred card. While more than less frequent travelers likely spend, that’s a manageable figure for those who take regular trips and dine out frequently.

Check our math in the table below: When you add the bonuses, travel credits and rewards together, your earnings on $5,425 of dining and travel spending with the Sapphire Reserve card approximately match the earnings on the Sapphire Preferred card.

Rewards earned on $5,425 travel and dining spend

Chase Sapphire Reserve cardChase Sapphire Preferred card
$5,125 travel and dining spend ($5,425 – $300 travel credit) x 3 points per dollar = 15,375 points$5,425 travel and dining spend x 2 points per dollar = 10,850 points
15,375 points x 1.5 cents point value = $231 (when redeemed for travel through Ultimate Rewards)10,850 points x 1.25 cent point value = $136 (when redeemed for travel through Ultimate Rewards)
$231 + $300 travel credit + $60 DoorDash credit – $550 annual fee = $41$136 – $95 annual fee = $41

This is a rough estimate, and the equation might vary for you if you decide to figure in other benefits or travel credits and whether you choose to add an authorized user to the Chase Sapphire Reserve (which costs $75). But hopefully, this gives you the general idea: For many travelers, the Chase Sapphire Reserve card is the way to go.

Best value in the first year

The $550 annual fee on the Chase Sapphire Reserve card may give you some sticker shock, but think things through thoroughly before you opt for a card with a lower annual fee. There is a large amount of value hidden beneath the Chase Sapphire Reserve’s glossy surface.

The Sapphire Reserve offers a couple of generous travel credits – an annual $300 travel credit that covers anything that Chase categorizes as a travel purchase, including airfare, and up to a $100 statement credit every four years for Global Entry/TSA PreCheck. If you are a frequent traveler, you should be able to easily recoup $300 in travel costs, which will cancel out most of the card’s annual fee.

Purchases that qualify for the Sapphire Reserve’s travel credit

  • Flights
  • Hotel stays
  • Parking garages
  • Toll booths
  • Pedicab rides
  • Taxi rides (including ride-share services)
  • Uber Eats purchases
  • Public transportation
  • And more

As you can see from the table below, when you add together the travel credits and the sign-up bonus for the Chase Sapphire Reserve, the value of the card easily outmatches its annual fee in the first year (and that’s not including the extra points you earn on travel and dining). It also surpasses the value of the Chase Sapphire Preferred card, despite that card’s lower annual fee and higher sign-up offer.

In terms of first-year bonuses, the Chase Sapphire Reserve is the better choice if you’ve been brainstorming future vacations or weekend getaways:

Value of bonuses + credits in first year

Chase Sapphire PreferredChase Sapphire Reserve
Sign-up bonus ($1,250 value when redeemed for Ultimate Rewards travel) + $60 Peloton membership credit – $95 annual fee = $715Sign-up bonus ($900 value when redeemed for Ultimate Rewards travel) + $300 travel credit + $100 Global Entry credit + $60 DoorDash credit + $120 Peloton membership credit – $550 annual fee = $930

Best for lounge access

In combination with a valuable rewards program, the lounge access on the Chase Sapphire Reserve card is a compelling reason to sign up for the card. While there are many competing luxury cards that come with lounge access – including The Platinum Card® from American Express, which offers the widest lounge network including ultra-swanky Centurion lounges – the Chase Sapphire Reserve offers a good value on lounge access.

For a $550 annual fee, you and two guests get free access to the Priority Pass lounge network, and if you add on an authorized user for $75, that user is entitled to the same lounge access.

Though the Citi Prestige® Card also offers a Priority Pass membership to authorized users (plus you can bring along your entire immediate family for free), the Citi Prestige can’t compare to the Sapphire Reserve card’s rewards program and flexible annual travel credit. For the all-around best value on luxury perks, the Sapphire Reserve card comes out ahead of Citi’s flagship travel card.

Best for travel insurance

Both Chase Sapphire cards come with great travel protections, including primary car rental insurance, insurance for lost and delayed luggage and up to $20,000 worth of trip cancellation and interruption insurance. However, the Sapphire Reserve has the edge over the Sapphire Preferred in terms of comprehensive travel coverage. It also offers credit toward roadside assistance, $100,000 worth of emergency evacuation insurance and $2,500 worth of medical and dental insurance, in case you need to see a doctor while you’re traveling.

If you’re looking for the go-to card to cover your next vacation, you should check out the Chase Sapphire Reserve card.

Travel insurance benefits

Chase Sapphire Preferred cardChase Sapphire Reserve card
  • Trip cancellation/interruption insurance – up to $10,000 per person and $20,000 per trip
  • Primary car rental insurance – up to the cash value of the vehicle for theft and collision
  • Baggage delay insurance – up to $100 a day for five days for delays over six hours
  • Trip delay insurance – up to $500 per ticket for delays over 12 hours
  • Roadside assistance (for a fee)
  • Lost luggage reimbursement – up to $3,000 per passenger
  • Travel accident insurance – up to $1,000,000
  • Trip cancellation/interruption insurance – up to $10,000 per person and $20,000 per trip
  • Primary car rental insurance – up to $75,000 for theft and collision
  • Baggage delay insurance – up to $100 a day for five days for delays over six hours
  • Trip delay insurance – up to $500 per ticket for delays over six hours
  • Roadside assistance – up to $50 per incident four times per year
  • Lost luggage reimbursement – up to $3,000 per passenger
  • Travel accident insurance – up to $1,000,000
  • Emergency evacuation insurance – up to $100,000
  • Emergency medical and dental insurance  – up to $2,500

Best for families

The Chase Sapphire Reserve is considered a luxury travel card, but it’s also a great card for families trying to score discounted travel. Since the card has superior point-earning potential, you can earn your way to a free ticket faster. You can use the card’s car rental perks with National Car Rental and Avis to get a discount on your car rental, and – depending on the airport – you can use your Priority Pass membership to snag some snacks while you’re waiting for your flight. In some airports, you can even stop by a participating restaurant to grab a free meal for you and your family since you get a $28 credit toward your meal plus a credit for each authorized user and one additional guest (credit and guest terms may vary).

Also, family-friendly Southwest Airlines is included in the Sapphire Reserve’s list of travel partners. If you already fly Southwest with your family because of their flexible seating and ticket change policies, you should take a close look at the Sapphire Reserve card – you can collect points for Southwest flights at a much faster pace.

Chase travel partners

Singapore Airlines
Iberia Plus
Southwest Airlines
JetBlue Airways
United Airlines
British Airways
Emirates Skywards
Air France/KLM
Aer Lingus
Virgin Atlantic
World of Hyatt
Marriott Bonvoy
IHG

See related: Chase Ultimate Rewards transfer partners

Which is right for you?

The choice between the Sapphire Preferred and Sapphire Reserve cards almost exclusively comes down to your travel and dining expenses. Here are three key questions to ask yourself when deciding between the two cards:

  1. Can you afford the fee? Are you able to pay the Sapphire Reserve card’s $550 annual fee? Note – you shouldn’t skip the Sapphire Reserve just because the fee seems pricey. However, if you can’t afford to withdraw $550 from your bank account, you should consider the $95 Sapphire Preferred card instead.
  2. How much do you spend on travel and dining? If you can afford the Sapphire Reserve card’s annual fee, you’ll need to get your calculator out and determine how much you’re likely to spend on travel and dining this year. If you spend at least $5,425 on travel and dining each year, the Sapphire Reserve is likely to be the better value.
  3. Do you value lounge access? If you’re looking for a credit card with lounge access, then the Chase Sapphire Reserve is the better option between these two. If you don’t picture yourself kicking back in airport lounges, though, it shouldn’t necessarily be a deal-breaker – you can get plenty of value out of the remainder of the Sapphire Reserve card’s features.

Bottom line

The Chase Sapphire Preferred and Reserve cards are two wildly popular travel cards for good reason – they offer highly flexible rewards that can be a great value for many types of cardholders. In the battle between these cards, the Sapphire Reserve card has a clear advantage, and you’ll want to do some careful math before you go with the Sapphire Preferred card. Chase only allows you one Chase Sapphire card at a time, and you may have to wait a year or longer before you can change to a different card. Make extra certain you’re selecting the card that matches your spending and travel patterns because you’ll have to hold onto it for a while.

The editorial content above is based solely on the objective assessment of our writers and is not driven by advertising dollars. However, we do receive compensation when you click on links to products from our partners. Learn more about our advertising policy

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

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