Chase Sapphire Preferred vs. Chase Sapphire Reserve: Which is right for you? (2024)

The two cards may appear to be very similar, but when you take a closer look you’ll see important differences in their annual fees, rewards structures, and additional benefits. Let’s delve into the nuances of the Chase Sapphire Reserve and the Chase Sapphire Preferred Card to help you figure which one best suits your needs and lifestyle.

Chase Sapphire Preferred vs. Chase Sapphire Reserve at a glance

Annual Fee

The Chase Sapphire Reserve card comes with a hefty annual fee of $550, making it the more expensive option of the two. On the other hand, the Chase Sapphire Preferred Card offers a more budget-friendly annual fee of $95.

Although the annual fee for the Reserve card is significantly higher, it provides cardholders with elite perks, statement credits, and a wide range of protections and insurances, making it ideal if you can leverage these benefits.

In contrast, the Sapphire Preferred Card earns the same valuable Ultimate Rewards points system that can be redeemed for travel bookings or transferred to travel partners. So if you’re simply after points rather than elite perks, the Preferred is the way to go.

Winner: The lower annual fee of the Preferred card makes it a more accessible option for if you want to earn valuable rewards and get basic travel protections without the premium price tag.

Rewards

Both the Chase Sapphire Reserve and the Chase Sapphire Preferred Card offer enticing rewards to cardholders, albeit with different reward structures. The Reserve card provides 10X points on Chase Dining through Chase Travel℠, 5x points on flights through Chase Travel℠ after the first $300 spent annually on travel purchases, and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually, among other rewards.

The Reserve is tailored for people who frequently travel and dine out, offering substantial rewards in these categories. Conversely, the Sapphire Preferred Card offers 3x points on dining, 3x points on select streaming services and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2x points on travel purchases, and 1x points on other purchases.

Winner: While the rewards structure of the Reserve card is higher on travel, the Preferred still provides solid rewards rates across everyday categories, making it a better option overall.

Welcome Offer

Both the Sapphire Reserve and Preferred cards feature generous welcome offers to entice new cardholders. The Reserve card offers 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. (That's $900 toward travel when you redeem through Chase Travel℠).

In comparison, the Preferred card provides a welcome offer of 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.. Do keep in mind that you can have either a Sapphire Preferred or a Sapphire Reserve, but not both.

Winner: The Reserve card gives cardholders a significant advantage with a 50% boost in redemption value when booking travel through Chase, making it an attractive option if you are looking to maximize your welcome bonus. But offers do vary from time to time, so it’s best to check both before applying.

Perks

When it comes to additional benefits and perks, the Chase Sapphire Reserve stands out with its comprehensive suite of offerings. Cardholders of the Reserve card benefit from a $300 annual travel credit, lounge access for themselves and up to two guests through a Priority Pass™ Select Membership, and a Global Entry or TSA PreCheck® fee statement credit,

Also in the Reserve’s column are various insurance coverages such as trip cancellation/interruption insurance, primary auto rental collision damage waiver, and emergency evacuation and transportation benefits. The Preferred has some travel coverage, too, but the Reserve’s is much more robust and even includes roadside assistance and up to $2,500 travel medical coverage.

On the other hand, the Chase Sapphire Preferred Card gives you a $50 Chase Travel hotel credit and a 10% bonus on points spent, meaning if you spent $25,000 on the card you would get an additional 2,500 points.

Winner: While the Preferred does well in the sub-$100 annual fee category, the Reserve’s strong travel protections and airport lounge access benefits blow its little brother out of the water.

Other cards to consider

If you like the Priority Pass and travel benefits of the Reserve but would prefer a slightly lower annual fee, check out the Capital One Venture X Rewards Credit Card. For an annual fee of $395 it offers most of the same benefits, but with a flat-rate rewards rate of 2X Miles per dollar on every purchase, every day rather than bonus categories like the Reserve.

Like the Preferred is the little brother of the Reserve, the Capital One Venture Rewards Credit Card is the Venture X’s little brother and could be an alternative to the Preferred. It’s especially appealing if you want to keep your travel rewards simple as you can apply your rewards toward any travel purchase you make.

The takeaway

If you are a frequent traveler who values luxury perks and premium benefits, the Chase Sapphire Reserve may be the perfect fit for you. Conversely, if you are seeking a versatile card with solid rewards and travel protections at a more affordable price point, the Chase Sapphire Preferred Card could be the ideal choice. Whichever card you choose, both the Chase Sapphire Reserve and Chase Sapphire Preferred Card offer exceptional value and the opportunity to earn valuable rewards on your everyday purchases.

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