Million Mile Secrets reader Amy commented:
I had the Chase Sapphire Preferred and downgraded to the Chase Sapphire (no longer available to new applicants) card after the first year of no-annual-fee was up. Does the Chase Sapphire offer the same travel coverage as the Chase Sapphire Preferred?
Great question, Amy!
The Chase Sapphire Preferred is a great card for beginners because it has a terrific sign-up bonus, earns points you can transfer to airline and hotel partners, and has excellent travel benefits like primary rental insurance.
The $95 annual fee is waived for the first year. While I’ve kept this card for years, some folks decide to downgrade the card to the no-annual-fee Chase Sapphire instead of canceling it, to avoid paying the Preferred version’s annual fee.
But you will NOT get all the same benefits as the Chase Sapphire Preferred!
I’ll explain the differences between the cards and why it’s worth paying the annual fee on the Chase Sapphire Preferred!