Chase Sapphire Preferred vs. Reserve: Which One Should You Get?

Chase’s two Sapphire cards — the Preferred and the Reserve — are the most popular travel rewards cards in the US. Both earn Chase Ultimate Rewards points, but they have meaningfully different annual fees, benefits, and earning structures. Here’s how to decide which one is right for you.

Quick Comparison

Always verify current benefits and fees directly with Chase — details change.

The Annual Fee Math

The Sapphire Reserve’s $550 fee looks daunting, but the $300 annual travel credit (applied automatically to any travel purchase) immediately brings the effective cost down to $250. And if you use the $100 Global Entry/TSA PreCheck credit every 4.5 years, that’s another ~$22/year off.

Practical effective cost: ~$225-250/year for the Reserve.

The Preferred’s $95 fee, minus the $50 hotel credit, runs about $45/year effective.

The Reserve costs roughly $200 more per year in practice. Whether it’s worth it depends on your usage.

When the Reserve Is Worth It

The Reserve beats the Preferred if:

You travel frequently. The 3x on travel (vs. 2x on Preferred) and 10x on Chase Travel bookings add up quickly. Someone spending $10,000/year on travel earns 10,000 more points annually — worth $150 in travel redemptions at Reserve’s 1.5 cent value.

You use airport lounges. Priority Pass membership is included with the Reserve. If you use a lounge even 4 times per year at the $35 guest value, that’s $140+ in lounge access alone.

You value the travel protections. The Reserve’s trip delay coverage kicks in after 6 hours (vs. 12 for Preferred). More likely to pay out on real delays.

You’re getting Global Entry or TSA PreCheck anyway. The $100 credit covers the full cost of either program — effectively free if you’d have paid for it regardless.

When the Preferred Is the Better Pick

The Preferred wins if:

You’re newer to travel rewards. The $95 effective cost (less the $50 credit) is low-risk for learning the Ultimate Rewards ecosystem. You can always upgrade to the Reserve later.

You don’t travel enough to justify the premium. If you take 2-3 trips per year and never use lounges, the extra benefits don’t offset the $200 premium.

You’re working on credit card strategy. The Preferred counts toward Chase’s 5/24 rule just like the Reserve. If you’re building a card portfolio, starting with the Preferred and keeping the Reserve for later makes sense.

The welcome bonus is comparable. Often the Preferred and Reserve are offered with similar point bonuses (60,000-80,000 points), so there’s no bonus reason to get the Reserve immediately.

The Ultimate Rewards Ecosystem

Both cards earn Chase Ultimate Rewards — the most versatile travel points currency available. They transfer at 1:1 to:

• Airlines: United, Southwest, British Airways, Singapore Airlines, Air France/KLM, Emirates, Aer Lingus, Iberia, Virgin Atlantic
• Hotels: Hyatt, IHG, Marriott

The Reserve values points at 1.5 cents for travel booked through Chase Travel. The Preferred values them at 1.25 cents. On a 60,000-point welcome bonus: the Reserve delivers $900 vs. $750 from the Preferred in Chase Travel value — a $150 difference.

The “Upgrade Path” Strategy

A popular approach: start with the Sapphire Preferred, use it for 1-2 years, then product change or upgrade to the Reserve. Benefits:

• Lower risk while you learn the system
• Avoid paying the $550 fee until you’re confident you’ll use the benefits
• Chase allows product changes within the Sapphire family

Note: You generally can’t hold both the Preferred and Reserve simultaneously.

Which Should You Get?

Get the Sapphire Preferred if: You’re new to travel rewards, you take 2-4 trips per year, or you want to test the Chase ecosystem at lower cost.

Get the Sapphire Reserve if: You travel frequently (6+ trips/year), value lounge access, or have spending in travel/dining that will meaningfully benefit from 3x vs. 2x.

Both cards are excellent. The best one is the one whose benefits you’ll actually use.