Chase Sapphire Preferred vs. Sapphire Reserve: With new changes in effect, which card is best for you?

Chase's duo of personal Sapphire cards hold the ticket to lucrative Chase Ultimate Rewards points. While the mid-tier Chase Sapphire Preferred® Card (see rates and fees) and premium Chase Sapphire Reserve® (see rates and fees) share a family, the cards diverge in benefits, earning rates and, especially, annual fee thresholds.

Still, adding one of these cards to your wallet is one of the best ways for points and miles enthusiasts to collect Chase points, TPG's top-rated currency (alongside Bilt Points), per our June 2025 valuations.

Before the Sapphire Reserve's sweeping refresh in 2025, you couldn't hold both the Sapphire Preferred and Sapphire Reserve cards at the same time. Now, you can hold both cards, but there are new restrictions that may make some new applicants ineligible for bonus offers. And, it's important to remember Chase's 5/24 rule when applying for one of the issuer's cards.

If you're considering applying for the Sapphire Preferred or the Sapphire Reserve, there are multiple factors to consider. The cards share a name and a rewards currency, but they're vastly different in practice. The Sapphire Reserve offers an array of perks at a steep $795 annual fee, while the Sapphire Preferred is a simpler option for a lower $95 annual fee.

It's important to consider your travel style and overall points and miles strategy before you make your choice. Let's get into the comparison.

Chase Sapphire Preferred vs. Reserve comparison

Chase Sapphire Preferred vs. Reserve welcome bonus

New applicants for the Chase Sapphire Reserve can earn 100,000 bonus points plus a $500 Chase Travel promo credit after spending $5,000 on purchases in the first three months of account opening.

This offer is worth $2,550 when you factor in TPG's June 2025 valuations for the points value and add the $500 travel credit, which is a history-making best-ever for the card's bonus.

Note that the terms for the $500 credit state the following: The promotional credit is valid for a one-time use only, if you apply the promotional credit to a transaction less than $500, you will forfeit the remaining balance.

Meanwhile, you can earn 75,000 bonus points after spending $5,000 on purchases in the first three months of account opening with the Chase Sapphire Preferred. This is worth about $1,538 when considering TPG's valuations.

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Per the new bonus eligibility requirements for Chase's suite of personal Sapphire cards, those who currently hold a consumer Sapphire card will not be eligible for a bonus on the other consumer Sapphire card.

Plus, if you've previously earned a bonus on the Sapphire Reserve, you almost certainly won't be eligible for a second bonus on the Sapphire Reserve. Likewise, if you previously earned a bonus on a Sapphire Preferred, you almost definitely will be ineligible for a second bonus on the Sapphire Preferred.

Chase also factors in your 5/24 status when reviewing applicants, so be sure to calculate your 5/24 standing before you apply.

Winner: Sapphire Reserve. The card's current bonus offers over $1,000 more in value than the Sapphire Preferred.

Chase Sapphire Preferred vs. Reserve benefits

The Chase Sapphire Preferred and Chase Sapphire Reserve are separated most distinctly by their benefits. Let's break down what you can expect from each card.

With the $95 Sapphire Preferred, you'll receive:

• $50 annual hotel credit that you can use when you book through Chase Travel
• 10% anniversary points bonus for each account anniversary
• Complimentary DoorDash DashPass subscription for at least one year (when you activate by Dec. 31, 2027) and $120 in DoorDash credits for non-restaurant purchases, given out as $10 in monthly credits

Those who opt for the premium, $795 Sapphire Reserve can expect:

• $500 annual statement credit for The Edit, Chase's curated collection of luxury hotels and resorts (split into two biannual $250 credits) for pre-paid bookings of two nights or more
• $300 annual statement credit toward all travel purchases
• $300 annual statement credit for StubHub or Viagogo purchases of concert and event tickets (split into two biannual $150 credits; activation required)
• $300 annually in monthly DoorDash promotions (a $5 restaurant promo and two $10 promos on non-restaurant purchases each month; activate by Dec. 31, 2027) plus a complimentary DoorDash DashPass membership valued at $120 manually (activate by Dec. 31, 2027)
• $300 annual dining credit and primetime reservations at Sapphire Reserve Exclusive Tables, which you can book on OpenTable (split into two biannual $150 credits automatically applied within the Sapphire Reserve Exclusive Tables program)
• Complimentary annual memberships for Apple TV+ and Apple Music subscriptions (one-time activation per service is required through chase.com or the Chase Mobile app)
• $120 in annual statement credits toward a Peloton membership ($10 monthly through Dec. 31, 2027)
• $120 in annual Lyft in-app credits, up to $10 monthly through Sept. 30, 2027
• Access to Chase Sapphire airport lounges and Priority Pass lounges (excluding Priority Pass restaurants)
• Complimentary IHG Platinum Elite status through Dec. 31, 2027 (with the ability to spend your way to IHG Diamond status)
• Global Entry, TSA PreCheck or Nexus application fee credit of up to $120 every four years

You can also receive extra benefits after spending $75,000 on the Sapphire Reserve in a calendar year. These include:

• Southwest Airlines A-List status
• $500 Southwest Airlines credit when booking through Chase Travel
• Complimentary IHG Diamond Elite status
• $250 credit for The Shops at Chase

Two facts are apparent: The Sapphire Reserve's annual fee is significantly higher than that of the Sapphire Preferred, and the Sapphire Reserve undoubtedly outweighs the Sapphire Preferred in terms of benefits.

A key distinction for many frequent travelers will be the Sapphire Reserve's lounge access. The issuer has opened eight clubs and has plans to open three more. Plus, the Priority Pass network includes over 1,700 lounges across the globe.

If you frequently fly out of one of these airports, such as Boston Logan International Airport (BOS), John F. Kennedy International Airport (JFK) or Phoenix Sky Harbor International Airport (PHX), to name a few, this could put the Sapphire Reserve over the top.

The Sapphire Reserve maintains its beloved, flexible $300 travel credit despite the card's overall refresh. It broadly applies to a wide range of travel purchases and is automatically applied to your account. The Sapphire Preferred's $50 hotel credit, on the other hand, is limited to Chase Travel purchases, which is more restrictive by comparison.

It's also worth noting that both cards come with a suite of travel protections, including baggage delay insurance, lost luggage insurance, trip cancellation and interruption insurance, purchase protection, extended warranty protection and trip delay reimbursement. However, the more premium Sapphire Reserve has broader coverage with certain policies than the Sapphire Preferred.

Plus, the more premium Sapphire Reserve includes emergency medical and dental benefits and emergency evacuation and transportation that the Sapphire Preferred does not.

Now, when you break down the statement credits line by line, it's important to consider how you're spending already. Do you subscribe to Apple TV+ and Apple Music, frequently order from DoorDash or buy tickets on StubHub? If you can't easily use the Sapphire Reserve's credits, it may not be a worthwhile investment.

If the Sapphire Reserve is too expensive or too complicated, the Sapphire Preferred is a great alternative.

Winner: Sapphire Reserve. The more premium card comes with lounge access, a more flexible travel credit and a laundry list of statement credits to maximize.

Related: Is the Chase Sapphire Reserve worth the annual fee?

Earning points with the Sapphire Preferred vs. Reserve

There are some variations in how the Sapphire Preferred and Sapphire Reserve earn points.

With the Sapphire Preferred, you'll earn:

• 5 points per dollar spent on all travel purchased through Chase Travel, eligible Lyft rides (through Sept. 30, 2027) and eligible Peloton purchases pf $150 or more (through Dec. 30, 2027)
• 3 points per dollar spent on dining, select streaming services and online grocery purchases (excluding Target, Walmart and wholesale clubs)
• 2 points per dollar spent on all other travel
• 1 point per dollar spent on all other purchases

The Sapphire Reserve earns:

• 10 points per dollar spent on eligible Peloton purchases of $150 or more (through Dec. 30, 2027)
• 8 points per dollar spent on all Chase Travel purchases
• 5 points per dollar spent on eligible Lyft rides (through Sept. 30, 2027)
• 4 points per dollar spent on flights and hotels booked directly
• 3 points per dollar spent on dining purchases worldwide
• 1 point per dollar spent on all other purchases

The Reserve outpaces the Preferred in multiple bonus categories, including Chase Travel purchases (8 points to 5 points), flights and hotels booked directly (4 points to 2 points) and Peloton purchases (10 points to 5 points). The two cards earn at the same rate on Lyft rides (5 points) and dining purchases (3 points).

The Sapphire Preferred actually earns more on select streaming services (3 points to 1 point) and online groceries (3 points to 1 point).

Plus, the Sapphire Preferred retains a general travel bonus category (2 points per dollar) that the Sapphire Reserve dropped in its 2025 refresh. So, if you book Airbnb stays, cruises or any other general travel outside of Chase Travel, direct flights or direct hotels, you're better off earning 2 points per dollar on the Preferred than 1 point per dollar on the Reserve.

As a Sapphire Preferred cardholder who rarely books through portals like Chase Travel, I value the simplicity of my card's general travel category.

However, I also appreciate the Sapphire Reserve's bonus offerings on purchases made directly with airlines and hotels at 4 points per dollar and can see how that would add value to many cardholders.

Winner: Sapphire Reserve. In most categories, it earns more than the Preferred, though the earning difference in the general travel category is worth considering.

Related: Which purchases count as dining with the Chase Sapphire Preferred and Chase Sapphire Reserve?

Redeeming points with the Sapphire Preferred vs. Reserve

With the Chase Sapphire Reserve refresh, Chase rolled out its new points accelerator called Points Boost. This will replace the previous 50% and 25% points bonus on the Sapphire Reserve and Sapphire Preferred cards, respectively. If you're deciding between these cards at this point, you'll be solely eligible for Points Boost, so we'll focus on that here.

Points Boost allows eligible cardmembers who redeem points through Chase Travel to receive up to 2 cents per point in value for their points when booking eligible travel through Chase Travel. The card and redemption you choose will determine how high your potential redemption rate can be (see your rewards program agreement for full details).

Chase Sapphire Reserve cardholders can receive a value of up to 2 cents per point on select hotel and flight bookings made through Chase Travel. Chase Sapphire Preferred cardholders will get up to 1.5 cents per point in value on select hotel and flight bookings made through Chase Travel. If Sapphire Preferred cardholders book premium cabin tickets on select airlines, they may receive up to 1.75 cents per point in value.

The base redemption rate for both the Sapphire Preferred and Sapphire Reserve will be 1 cent per point on Chase Travel redemptions not eligible for Points Boost.

Holding the Sapphire Reserve unlocks higher potential value through Points Boost than if you had the Sapphire Preferred. However, you'll have to book a Points Boost-eligible booking with select hotels and flight itineraries to get more than a 1-cent per point value. So, it's important to be flexible if you want to maximize Chase points this way.

You can also redeem your points for cash back or gift cards, but these redemptions generally give you poor value. Most of the time, we recommend transferring your Chase points to one of its partners to get the most out of your points.

Winner: Sapphire Reserve. You could get up to 2 cents per point in value with select Points Boost bookings, which is higher than that of the Sapphire Preferred.

Related: How to redeem Chase Ultimate Rewards for maximum value

Transferring points with the Sapphire Preferred vs. Reserve

The best way to get maximum value from your points earned with the Sapphire Preferred or the Sapphire Reserve is to transfer them to one of Chase's 14 travel partners.

These partners include valuable loyalty programs such as Air Canada Aeroplan, Air France-KLM Flying Blue, United Airlines MileagePlus, Virgin Atlantic Flying Club and World of Hyatt. When you transfer points, you can unlock stellar redemptions and fantastic trips.

Plus, Chase often runs transfer bonuses to receive even more value for your points when you move them.

Danyal Ahmed, a credit cards writer at TPG, previously transferred 70,000 Ultimate Rewards points to Aeroplan to fly Lufthansa business class from Frankfurt to Los Angeles.

I've previously redeemed 17,500 Chase points for two standard nights at Hyatt Place Atlanta/Cobb Galleria, a Category 2 property, for my sister's graduation from college. My favorite Chase redemptions are simple and fit into my lifestyle to offset small trips I need to take anyway.

Winner: Tie. Both cards come with the same transfer options.

Related: Who are the Chase Ultimate Rewards transfer partners? Everything to know

Should I get the Chase Sapphire Preferred or the Sapphire Reserve?

The Sapphire Reserve wins over the Sapphire Preferred in side-by-side comparisons of benefits, earning rates and redemption options through the Chase Travel portal, so it may be natural for some credit card enthusiasts to veer toward the premium option.

However, with an annual fee difference as steep as $700, it's important to consider your own spending habits and travel preferences when you're making a choice.

Does airport lounge access matter a lot to you? Are you organized enough to keep track of the Reserve's credits (especially those earned monthly and biannually)? Are its bonus categories a game changer?

If you answer most of these questions with "yes," the Sapphire Reserve may be your choice. If your answer is no, the Sapphire Preferred is still an excellent option at a modest $95 annual fee, especially for travelers who value simplicity and primarily transfer their Chase points to partners.

Personally, I'm a big fan of the Sapphire Preferred and frequently recommend it to my friends just getting into the points and miles hobby. However, we also have staff members who find plenty of value in holding the Sapphire Reserve year after year. The choice comes down to you.

Related: Reasons to choose the Chase Sapphire Preferred over the fancier Chase Sapphire Reserve

How to upgrade from the Sapphire Preferred to the Sapphire Reserve

You can upgrade from the Sapphire Preferred to the Sapphire Reserve by calling the number on the back of your card.

You can do the same if you want to downgrade your Sapphire Reserve to the Sapphire Preferred. You have to hold your card for at least 12 months before you can downgrade. However, you won't be eligible for a welcome offer on your new card if you choose to upgrade or downgrade.

It's important to note that before the Sapphire Reserve's 2025 refresh, you couldn't hold both Sapphire cards at the same time. Now, you can. So, if you want the extra perks of the Sapphire Reserve along with benefits specific to the Sapphire Preferred, you could potentially hold both.

Related: 5 reasons to upgrade from Chase Sapphire Preferred to Chase Sapphire Reserve

Bottom line

Both the Chase Sapphire Preferred and the Chase Sapphire Reserve are popular travel cards that have earned their place in the points and miles zeitgeist.

While the cards share a family, they have grown increasingly different through the years, and one card isn't going to be the best option for every traveler.

If you value luxury perks like airport lounge access, can maximize statement credits and appreciate high earning rates, the Sapphire Reserve is the pick for you. If you're into simplicity and don't want to pay a high annual fee, apply for the Sapphire Preferred.

To learn more, see our full reviews of the Chase Sapphire Preferred and Chase Sapphire Reserve.

Apply here: Chase Sapphire Preferred Card

Apply here: Chase Sapphire Reserve