Finally, they are also eligible for either a Global Entry or TSA PreCheck application fee statement credit, up to $100 once every four years. Either $5 or 5% of the amount of each transfer, whichever is greater. Update: The Chase Sapphire Preferred® Card offer mentioned below is no longer available. *Bonus value is an estimated value calculated by TPG and not the card issuer. Preferred: Interest Rates Even though TPG values all Ultimate Rewards (no matter which card earns them) at 2 cents each, the Reserve provides $300 more in annual rewards value in the above example. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered. A RED VENTURES COMPANY. Crunching the numbers: The Chase Sapphire Preferred and the Chase Sapphire Reserve both require new cardholders to spend $4,000 within three months to earn their bonuses. When you further consider that Reserve points are worth up to 20% more than Preferred points and it also offers up to $300 annual travel credit, it’s clear that Reserve is the winner of this category. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. For example, 60,000 points are worth $750 toward travel. On its own, this may not be a reason to choose the Reserve over the Preferred, but when combined with the other additional benefits the Reserve offers, it could be a deciding factor. Here's why the Chase Sapphire Preferred might be a better choice than the more premium Chase Sapphire Reserve. Many credit cards now offer Global Entry or TSA PreCheck fee statement credits, including the Capital One Venture Rewards Card, which is offering a historically high bonus of its own, at 100,000 miles (50,000 after spending $3,000 in 3 months, and another 50,000 after spending $20,000 within 12 months). You’ll still need a solid score for the Sapphire Preferred (typically somewhere in the high 600s to the 700s), but you might have an easier time getting approved for that card if your score is on the low end of the optimal range. No matter which card you choose, you’ll be able to move your Ultimate Rewards points (earned both through the sign-up bonus and through spending) to the program’s airline and hotel partners at a 1:1 ratio. Chase Sapphire Preferred has a $95 annual fee.You get 2x points on travel and dining, and 1x on everything else.You get a sign-up bonus of 60,000 points after you spend $4,000 on purchases within the first 90 days. Preferred: How They Compare. Up to $1,000,000 in coverage. Sign up for our daily newsletter. Chase recently introduced a new “Pay Yourself Back” feature through its portal where cardmembers can redeem their points in a variety of other categories at the same rate. The Chase Sapphire Preferred has a $95 annual fee and the foremost choice of most travelers. On its own, this may not be a reason to choose the Reserve over the Preferred, but when combined with the other additional benefits the Reserve offers, it … View the current offer. Right now, you’ll earn 60,000 points after you spend $4,000 in the first three months. While the offers mentioned above are accurate at the time of publication, they are subject to change at any time, and may have changed or may no longer be available. Also, make sure you don’t bump up against Chase’s infamous 5/24 rule. You’ll get a $300 travel credit each year with the Reserve, a $100 credit for the TSA PreCheck or Global Entry application fee every four years and a Priority Pass Select membership that gives you entry into airport lounges around the world. However, the Reserve comes with an additional $300 in annual travel statement credits, which can be put toward flights and hotel stays, plus things like taxi rides and even parking meters. You can always request an upgrade later on if you decide the Reserve will better serve your travel needs. Our coverage is independent and objective, and has not been reviewed, approved, or endorsed by any of these entities. To its credit, the American Express® Gold Card has a $100 airline fee credit, but it's only applicable toward airline incidentals. The credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. The difference between the Preferred's fee ($95) and the Reserve's (effectively $150) is $155. Editor’s note: This is a recurring post that is regularly updated with new card information and details. With the Preferred, you’ll get 1.25 cents in value per point, while with the Reserve you’ll get a higher value of 1.5 cents per point. If you’re looking at applying for one or the other right now, it’s important to consider the Chase Sapphire Preferred‘s elevated sign-up bonus. Opinions and product recommendations on this site are ours alone, and have … The more you plan to spend in those bonus categories, the bigger the difference in rewards. If you earn more that 67,400 points a year, you’d be better off keeping a Reserve vs the Preferred ( $1011 in value vs $842.50 ) Overall: I downgraded my Reserve to a Preferred and I’m keeping it that way. With the Sapphire Reserve you earn 3X points on dining and travel (immediately after earning your $300 travel credit), while the Sapphire Preferred gives you 2X points in those categories. The Chase Sapphire Preferred currently wins out over the Chase Sapphire Reserve by offering a higher sign-up bonus. The Chase Sapphire Reserve and Ink Business Preferred are two excellent cards, but it can be hard to justify keeping both travel-centric cards when you may not be flying to far-flung destinations anytime soon. Comparing it to the Chase Sapphire Reserve feels a little unfair, though, because they’re not really in the same league. In terms of Roadside Assistance, the Reserve shines, too: Whereas the Preferred charges a fee for each service call, the Reserve covers up to $50 per incident, up to four times per year. Protections: In terms of travel protections, the differences between these two cards probably won’t affect most travelers. Sapphire Preferred is $0.0125 per point while the Reserve is worth $0.015 per point. CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners. The Chase Sapphire Reserve is a premium travel card so it is stacked with benefits including annual credits, a 50% boost to point value, superb coverage when it comes to travel and general purchases. While some of these perks can’t be used right now, if you take advantage of these perks later on in 2020 and into 2021, you’ll more than offset the cost of the Sapphire Reserve’s $550 annual fee each year. Luckily, Chase has been pretty good at adapting card benefits to help most people still get value from their Chase Ultimate Rewards cards. Here are the main factors you need to consider. The Preferred has an 80,000-point bonus, while the Reserve offers a mere 50,000 points. SIMILARITIES OF CHASE SAPPHIRE RESERVE VS PREFERRED. With the Preferred, there’s no cost to add additional users. Please view our advertising policy page for more information. Christine Krzyszton - UPDATED: January 5, 2021. Credit Cards / Strategies & Guides. With the Reserve card, on the other hand, it costs $75 per year for each authorized user (most likely because each gets his or her own Priority Pass Select membership for airport lounge access). The Chase Sapphire Reserve® has a feature that's unmatched by the American Express® Gold Card and the Chase Sapphire Preferred® Card: a $300 annual travel credit, which effectively knocks the card's annual fee from $550 to $250. It also offers some of the best travel protections available with any credit card, including primary rental car insurance so you don’t have to pay for the agency’s expensive policy or go through your own insurance if you hit bumps in the road, and trip cancellation and interruption insurance that can cover nonrefundable expenses up to $10,000 per person or $20,000 per trip. It offers a 25% boost to point value and some pretty good travel and purchase coverage. Points earned: In contrast with the Preferred, the Reserve racks up three points per dollar on travel and dining, and 10 points per dollar on Lyft rides. But the cards bear other differences that are worth considering. The Sapphire Reserve has higher per-claim thresholds than the Sapphire Preferred when it comes to purchase protection and … Other benefits: Cardholders can enjoy $300 in annual credit as reimbursement for travel purchases each account year. Both offer nearly identical trip cancellation and interruption insurance, primary auto rental coverage, and lost luggage reimbursement if your bags go missing. The Reserve offers a sign-up bonus offer of 50,000 Chase Ultimate Rewards points after spending $4,000 on purchases in the first three months of card membership. (It’s unlikely you’d need more reimbursement from either card, since most rental cars are worth far less.) Cardmembers can enroll for complimentary Priority Pass Select membership with access to more than 1,300 airport lounges worldwide, and bring two guests with them for free. Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. But if you can take advantage of the Reserve’s many value-added perks, you might still want to get it instead. The Preferred card offers a sign-up bonus offer of 60,000 Chase Ultimate Rewards points after spending $4,000 on purchases in the first three months of card membership. This is 20,000 more points than the card usually offers. Featured photo John Gribben for The Points Guy. January 1, 2021 March 24, 2020 by Spencer. The Chase Sapphire Reserve allows you to redeem each point at 1.5 cents each, compared to 1.25 cents each with the Preferred. When it comes to purchase protection, the Preferred pays up to $500 per claim and up to $50,000 per account while the Reserve card pays up to $10,000 per claim and up to $50,000 per year ongoing as long as your account is in good standing. The Chase Sapphire Preferred Card has long been a TPG favorite. As part of a new partnership with food delivery service DoorDash, cardholders receive a $60 annual DoorDash credit to use on food delivery each year in 2020 and 2021 and a one-year complimentary subscription to DashPass (which waives the delivery fee at eligible restaurants and discounts service fees on orders of more than $12). 03/04/2019 Tell your friends. While both cards can access the Ultimate Rewards portal and can be used in any one of the above categories, the Reserve offers more redemption power when used for travel. ALL RIGHTS RESERVED. With more cards cutting trip insurance, premium coverage is harder to come by. In addition, you can transfer your rewards to airline miles or hotel points. Keep in mind, the Mastercard Black Card has a $495 annual fee ($195 for each Authorized User added to the account), while the Chase Sapphire Reserve has a $550 annual fee . In fact, I’ve held off on upgrading my own Chase Sapphire Preferred to the Chase Sapphire Reserve this year in light of the coronavirus pandemic and my limited travel spending in 2020. Chase Sapphire Preferred vs. Chase Sapphire Reserve. That’s a clear-cut advantage for the Preferred if you intend to transfer your points to one of Chase’s partner airlines or hotel programs. See, a $100 credit for the TSA PreCheck or Global Entry application fee, The best credit cards for everyday spending, The best credit cards for travel insurance, Limited time: 100% bonus when you buy Hilton points, Pre-departure testing and self-isolation for arrivals: Everything you need to know about traveling to the UK. Chase Sapphire Reserve vs. As an ultra-premium card, the Reserve requires a top-notch credit score. It was the first to earn Ultimate Rewards points that were transferable to a number of different airline and hotel loyalty programs, but offered some other outsized benefits as well. Through December 31, 2020, this can also be put toward groceries and gas. Read our comparison chart below. Higher fee, better perks: The Chase Sapphire Preferred doesn’t boast much in the way of value-added benefits apart from its new DoorDash DashPass perks, which the Reserve also offers. If you’re delayed and need to spend on meals, lodging, or other necessities, the Reserve’s coverage kicks in at 6 hours instead of 12 for the Preferred, and the same for if your bag is delayed and you need to buy replacement clothes or toiletries. If you’re looking for a solid travel credit card with comprehensive protections and a decent rate of return on spending, though, the Chase Sapphire Preferred might be the card for you. Through Sept. 30, this 50% redemption bonus also extends to grocery stores, home improvement stores and dining establishment purchases that can be erased through Chase’s new Pay Yourself Back feature. With the Chase Sapphire Preferred offering a slightly higher sign-up bonus of 60,000 points after you spend $4,000 in the first three months and travel understandably on the back burner for many cardholders, there are plenty of reasons why it could be the more attractive option for your wallet. When the Reserve launched, however, it quickly became a go-to for luxury perks such as a Priority Pass Select membership and the annual $300 travel credit. It’s also worth comparing the coverage offered by these two cards for things like travel delays, trip cancellation and purchase protection. Reserve’s bonus rate is 3 points per $1 spent, while Preferred gives you just 2 points per $1. I still think the Chase Sapphire Preferred is one of the single best overall cards on the market. Opinions expressed here are entirely those of the AFAR editorial team. Military Money Manual … Category Winner: Chase Sapphire Reserve. You can redeem your reward points for a variety of awards including cash back, merchandise and travel reservations. The fact that the Chase Sapphire Preferred’s current sign-up bonus is 30,000 points higher than that of the Chase Sapphire Reserve throws off the usual calculus, though. They both rack up valuable Chase Ultimate Rewards points, which can be redeemed directly toward travel bookings made through Chase, as well as transferred to more than a dozen airline and hotel partner loyalty programs. Chase Sapphire Reserve vs. Editorial Note: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. If you’re looking for premium perks, the Reserve is the way to go. Related reading: The best credit cards for travel insurance. For most, the choice between these two particular cards usually comes down to their annual fees—the Chase Sapphire Reserve charges $550 per year while the Chase Sapphire Preferred requires a relatively modest $95. When considering any travel rewards credit card, though, it pays to look past the initial bonus to how you might be able to maximize a card’s perks over the course of several years. Chase Sapphire Reserve vs. That being said, you won’t have to cancel your Chase Sapphire Preferred credit card in order to get your hands on the Reserve. The Prerferred also offers purchase protection against damage or theft of up to $500 per claim and $50,00 per account, while the Reserve will cover you up to $10,000 per claim and $50,000 per year. How to decide between the Chase Sapphire Preferred’s sign-up bonus and the Chase Sapphire Reserve’s valuable perks. Now through March 2022, cardholders can also register to earn five points per dollar on Lyft rides. While the Chase Sapphire Reserve® offers perks, it has a much higher annual fee — $550, versus the Sapphire Preferred's $95 annual fee. That’s a clear-cut advantage for the Preferred if you intend to transfer your points to one of Chase’s partner airlines or hotel programs. 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases. TheChase Sapphire Preferred recently offered its highest-ever sign-up bonus. The Points Guy will not sell your email. Chase Sapphire Reserve vs. Chase Sapphire Preferred for Active Duty Military 2021. Since you’d be paying a $95 annual fee for the Sapphire Preferred, you’re essentially paying just $155 more per year for the Reserve card, which comes with more benefits. Check out our guide on maximizing Chase’s transfer partners. Aside from sharing similar names, the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® are two of the most popular travel rewards credit cards on the market. Of course, it’s worth keeping in mind that the Sapphire Reserve offers a $300 annual travel credit, which effectively lowers the cost to just $250 per year — a $155 premium over the Sapphire Preferred. The Chase Sapphire Reserve® is the ability to earn 50,000 points after spending $4,000 in the first three months. It’s worth hundreds of dollars more without the Reserve’s $550 annual fee. 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