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Deciding between the Chase Sapphire Reserve and Sapphire Preferred cards? I can help!
Both offer great sign-up bonuses and perks and earn Chase Ultimate Rewards points. They’re my favorite kind of points!
But comparing the Chase Sapphire Reserve Versus Sapphire Preferred isn’t as easy as comparing sign-up bonuses and annual fees.
I’ll show you the similarities and differences between these cards. And help you decide which card is right for you!
Chase Sapphire Reserve Versus Sapphire Preferred
Here’s what you’ll get with each card.
Chase Sapphire Reserve
With the Chase Sapphire Reserve card, you can earn 100,000 Chase Ultimate Rewards points after you spend $4,000 on purchases in the first 3 months from account opening.
You’ll also get:
- 3X Chase Ultimate Rewards points on travel & dining
- 1X Chase Ultimate Rewards points on all other purchases
- $300 annual credit for travel purchases such as airfare and hotels
- $100 statement credit for Global Entry
- Priority Pass Select for access to airport lounges
- No foreign transaction fees
- Visa Infinite benefits like $25 food and beverage credit at the Luxury Hotel Collection and complimentary car rental elite status with Silvercar
The card has a $450 annual fee, which is NOT waived for the first year. But you can easily offset the annual fee with credits and perks you’ll get from the card.
Chase Sapphire Preferred
Link: Chase Sapphire Preferred
When you open the Chase Sapphire Preferred card, you’ll earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
You’ll also get:
- 2X Chase Ultimate Rewards points on travel & dining
- 1X Chase Ultimate Rewards points on everything else
- 5,000 bonus Chase Ultimate Rewards points when you add an authorized user who makes a purchase within the first 3 months of account opening
- No foreign transaction fees
The annual fee is $0 for the first year, then $95. This makes it easy to evaluate the card for ~10 months without a fee to see how you like it.
Here are the questions to ask before deciding which card to get.
What Are an Extra 50,000 Chase Ultimate Rewards Points Worth?
Consider how much those extra points are worth:
- Enough for 2 round-trip coach award flights within the mainland US or Canada on United Airlines (25,000 United Airlines miles X 2)
- Enough for a round-trip coach flight to Hawaii from anywhere in North America on United Airlines (using 35,000 Singapore Airlines miles)
- 2 award nights at a luxury Category 6 Hyatt hotel, like the Grand Hyatt Kauai where Emily and I stayed
- $750 toward flights with the Chase Travel Portal (because points are worth 1.5 cents each toward travel if you have the Chase Sapphire Reserve)
Or you could use the 50,000 Chase Ultimate Rewards points for $500 in cash back. But I prefer to get Big Travel with travel partners like Hyatt and United Airlines!
Do You Book a Lot of Paid Travel?
100,000 Chase Ultimate Rewards points are worth $1,500 (100,000 points X 1.5 cents) in travel booked through Chase’s travel portal. Because with the Chase Sapphire Reserve, your points are worth 1.5 cents each.
The 50,000 Chase Ultimate Rewards point sign-up bonus with the Chase Sapphire Preferred card is worth $625 (50,000 points X 1.25 cents) for travel booked through the Chase Travel Portal. Because with the Sapphire Preferred, your points are worth 1.25 cents each.
That’s a difference of nearly $900! So folks who book a lot of paid travel will do better with the Sapphire Reserve.
Flights on Southwest
And don’t forget, because your Chase Ultimate Rewards points are worth more on Chase’s travel portal with the Sapphire Reserve (1.5 cents each), it’s a better deal to book your Southwest tickets there. Instead of transferring your Ultimate Rewards points directly to Southwest where they’re only worth up to ~1.43 cents each.
Can You Afford a Bigger Annual Fee Upfront?
The $450 annual fee will show on the first card statement you receive after opening your account.
So if you don’t have the $450 to spend upfront, you should apply for the Chase Sapphire Preferred instead. Because the Chase Sapphire Preferred’s annual fee is waived the first year.
Would You Spend $300 Combined per Year on Airfare, Hotels, Cruises, Tolls, & Trains?
If you usually spend a few hundred dollars each year on travel purchases, like airline tickets, rental cars, train tickets, or hotels, the Chase Sapphire Reserve is a better choice.
Because you’ll get a $300 statement credit for travel purchases per calendar year, that you can use to offset the higher annual fee.
You can earn the $300 in 2016 and get the $300 credit again in early 2017. So you’ll earn $600 in travel credit with just 1 annual fee!
But if you don’t travel enough to use the travel credit from the Sapphire Reserve, you should get the Sapphire Preferred instead. Because the large annual fee on the Sapphire Reserve might not be worth it.
Do You Mind Canceling Cards?
Some folks might not be comfortable canceling cards, because they don’t want the hassle, don’t like dealing with credit card companies, or are worried it will impact their credit score.
In that case, the Chase Sapphire Preferred is a better choice, because it has a lower annual fee that’s waived the first year.
Can You Meet the Minimum Spending Requirements?
The minimum spending requirement is $4,000 in the first 3 months of account opening, for the Chase Sapphire Preferred and Chase Sapphire Reserve.
These larger minimum spending requirements can be daunting, but adding an authorized user could help. Because that person’s spending counts towards unlocking the bonus!
Also, check out my 40+ tips to easily meet minimum spending requirements!
It’s free to add an authorized user to your Sapphire Preferred account.
But you’ll pay $75 per authorized user with the Chase Sapphire Reserve.
Can You Get Both Cards?
But folks that have opened ~5 or more credit cards (from any bank) in the past 24 months (excluding certain business cards), are unlikely to get approved for most Chase cards. Even with an 800+ credit score!
Most of y’all will do better with the Chase Sapphire Reserve versus the Chase Sapphire Preferred.
The Chase Sapphire Reserve has twice the sign-up bonus for Big Travel with Small Money. And it has more generous perks such as a $300 annual travel credit, $100 Global Entry fee refund, airport lounge program, and greater points earnings on travel and dining.
That said, the Chase Sapphire Reserve will cost you $450 per year. The Chase Sapphire Preferred will cost you $0 in annual fees the first year, and $95 per year if you decide to keep it.
Or, you could get one card now and the other later and earn both sign-up bonuses. Because they’re considered different card products!
Which card would you rather have?
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