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5 Reasons to Pick Up the Chase Sapphire Preferred, Not the Reserve

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There's no denying the *chase sapphire reserve* is the gold standard credit card in the points and miles world, with great travel perks like lounge access and big-time travel credits. But paying an annual fee of $550 upfront isn't for everyone … which is why we think the *chase sapphire preferred* shines.

Both cards are out with identical elevated welcome bonuses of 75,000 points after spending $4,000 in the first three months. But get this: The Chase Sapphire Preferred Card costs just $95 a year. That's right: the exact same bonus … for a fraction of the annual fees. 

That alone makes it a solid option for any traveler looking for a new travel credit card. But from its excellent built-in travel insurance to some other unique benefits, there are a few other defining features of the Preferred Card.  

Here are five reasons why you might want to go for the Chase Sapphire Preferred instead of the Chase Sapphire Reserve.


*chase sapphire preferred*


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Chase Sapphire Preferred vs Reserve Overview

The *chase sapphire reserve* and *chase sapphire preferred* both come loaded with valuable perks and bonus spending categories to earn Chase Ultimate Reward points.

There's no question that the Reserve is clearly superior when it comes to travel benefits. But the Preferred is still a powerful travel card that will only cost you $95 a year to keep in your wallet.

Before we dive in and make a case for why we advise taking a look at the Chase Sapphire Preferred before you decide to jump on the Reserve bandwagon, let's take a quick look at the differences between the two Sapphire cards.


Chase Sapphire PreferredChase Sapphire Reserve
Welcome Offerbonus_miles_fullbonus_miles_full
Annual Feeannual_feesannual_fees
Authorized User FeesNone$75 for each additional cardholder
Point Value Redeeming Through Chase Portal1.25 cents per point1.5 cents per point
Annual Travel Credit$0$300
Points Earned On Travel & Dining Expenses3x per dollar spent on dining, online grocery orders, and streaming services. 2x per dollar on travel3x per dollar spent on dining and travel
$100 TSA PreCheck or Global Entry ReimbursementNoneYes, available once every four years for the primary cardholder
Priority Pass Select Lounge MembershipNoneYes, and both primary cardholders and authorized users can bring up to two guests
Primary Car Rental CoverageYesYes
Foreign Transaction FeesNoneNone
Trip Delay Reimbursement$500 per person for delays lasting 12 hours or more$500 per person for delays lasting six hours or more
Travel Accident Insurance$500,000 per person$1 million per person
Lost Luggage Insurance$3,000 per person per trip$3,000 per person per trip


Alright, give us a chance to explain why the Chase Sapphire Preferred could be be the smarter decision for you.


Get a Big Welcome Bonus

If you’re applying for a new credit card, chances are you want a big stash of points or miles. Let’s compare what you get from the Chase Sapphire Preferred vs. Reserve:

That's right: You'll get the same bonus on both cards right now.

You can transfer Chase points, including all these welcome bonus points, to partner airlines or hotels. That's the best way to maximize the value of these points … and neither card has an edge when it comes to transferring to airlines or hotel chains: They transfer on a 1:1 basis to every partner, no matter which card you have. 

If you're hoping to book travel through the Chase Travel℠  portal, the Reserve Card gets an edge. Otherwise, the Preferred Card could easily be the better choice. 

Related reading: A Guide to Earning & Burning Chase Ultimate Rewards in 2023 and Beyond


Pay a Lower Annual Fee

No one wants to spend a bunch of their money on annual fees. And while we think you should do the math to calculate if the benefits outweigh the costs rather than reject large credit card annual fees outright, there’s no doubt the allure of paying less in annual fees is strong.

You're in luck. One of the biggest advantages of the Sapphire Preferred is a significantly lower annual fee of $95. The Sapphire Reserve costs $550 per year. You'll pay $455 more upfront each year just to hold the Chase Sapphire Reserve. That can be hard to stomach.

Of course, you can easily offset much of the annual fee on the Sapphire Reserve with the $300 travel credit. It automatically reimburses you for up to $300 each year in travel expenses, from flights to hotels to Uber rides, and even parking fees. That instantly makes the annual fee more palatable – though perhaps not enough for everyone to justify paying that high initial price.

Still, the Chase Sapphire Preferred is far cheaper at just $95 a year – and it comes with the same, outstanding 75,000-point bonus. Compared to paying the Chase Sapphire Reserve’s $550 fee every year, it’s a steal.

The 75,000 points welcome bonus you will get after spending $4,000 in the first three months of card membership is worth at least $900 towards travel – if not much, much more. Even paying the $95 annual fee upfront, you'll still come out way ahead.


*chase sapphire preferred*


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You Could Upgrade Later

Maybe you don't have to decide between these two cards at all.

Paying $550 for a card with premium travel perks can still be a tough sell. But maybe you'll want those benefits later on down the line. While Chase won't let you earn the sign-up bonus on the Reserve card if you've earned the welcome bonus from the Chase Sapphire Preferred card within the last 48 months, that doesn't mean you can't maximize both cards.

You can start by opening the *chase sapphire preferred*. When year two rolls around, you could upgrade to the Chase Sapphire Reserve, keeping those additional points – while getting all the extra perks that come with the Reserve with the ability to redeem your points for some extra value.


sapphire preferred & reserve card with a wallet and passport


Let's say you open the Chase Sapphire Preferred Card this year, paying its $95 annual fee and spending $4,000 within three months to earn that 75,000-point bonus. By upgrading your card to the Reserve down the line, those 75,000 points you earned would then be worth at least $1,125, as each point on the Reserve card is worth slightly more at 1.5 cents apiece when booking flights, hotels, and other expenses through Chase Travel℠.

So as long as you are okay holding the Preferred for a year, you'll end up with a more valuable stash of points in year two.


How to Upgrade from the Preferred to the Reserve

If you eventually decide to upgrade your Chase Sapphire Preferred to the Sapphire Reserve, the process couldn't be easier.

After you have held the Sapphire Preferred Card for at least a year, sometime before or just after your annual fee posts for your next year, simply call the number on the back of your card and let the Chase customer service representative know you'd like to upgrade your account to the Sapphire Reserve. Just know that you will need an available credit line of at least $10,000 after having the Preferred for one year in order to upgrade.

The representative will likely ask you a few questions to verify your identity and a few other pieces of information to ensure you are eligible for an upgrade to the Sapphire Reserve. From there, the agent will likely read through a list of disclosures that you will need to agree to before you can complete the upgrade process.

The entire process should only take a few minutes. And given the higher credit scores needed to get approved for the Chase Sapphire Reserve, going this upgrade route might be a safer option.

Keep in mind that upgrading means you'll be ineligible to earn the sign-up bonus offer on the Chase Sapphire Reserve. On the plus side, it shouldn't involve a hard credit pull as you're simply doing a credit card product change.

Still torn? Read our complete guide comparing the Chase Sapphire Reserve vs Preferred cards


Transfer Partner Equality

There’s no denying that the Chase Sapphire Reserve comes with some worthwhile benefits. And one of the biggest benefits is the additional value you get when booking directly through Chase Travel℠.

However, the best way to squeeze more value out of your Chase points is by transferring them to more than a dozen different airline and hotel partners. And in the Chase Sapphire Preferred vs Reserve battle, neither card has the edge over the other here.

ProgramTypeTransfer RatioTransfer Time
Aer LingusAirline1:1Instant
Air Canada AeroplanAirline1:1Instant
Air France/KLMAirline1:1Instant
British AirwaysAirline1:1Instant
Iberia PlusAirline1:1Instant
Singapore AirAirline1:112-24 hours
Southwest AirlinesAirline1:1Instant
United AirlinesAirline1:1Instant
Virgin AtlanticAirline1:1Instant
World of HyattHotel1:1Instant
IHGHotel1:11 day
Marriott RewardsHotel1:12 days


No matter if you have the Chase Sapphire Preferred or Reserve, your points transfer at the same 1:1 ratio to every Chase transfer partner. When you consider the additional upfront cost of the Reserve card, the additional value of the far cheaper Chase Sapphire Preferred card is undeniable.

The ability to transfer points is what makes Chase Ultimate Rewards points so flexible and valuable. It’s one of the keys to unlocking some seriously valuable redemptions like business and first-class redemptions. Study up on how to transfer Chase points with our guide to get the maximum benefits out of your Chase cards.

Read more: Great Ways to Use a Big Bonus from the Chase Sapphire Preferred


Sapphire Travel Insurance Benefits

Both the Chase Sapphire Preferred and Reserve cards offer some of the best travel insurance of any credit cards out there.

But the differences between the coverage each of these cards offer is subtle. And in our opinion, the coverage offered by the Sapphire Preferred should suit the majority of travelers.


Rental Car Insurance

When it comes to rental car coverage, the only difference in the rental car coverage offered by the two cards is the maximum amount each card will cover. The Sapphire Preferred will cover up to the actual cash value of the rental car for rental periods that do not exceed 31 consecutive days. The Sapphire Reserve will cover up to $75,000 for rental periods that do not exceed 31 consecutive days.

That means if there is damage above and beyond the cost of the rental car, the Sapphire Reserve will provide a bit more coverage, assuming the rental car is not valued above $75,000. However, what is offered by the Preferred card should cover the vast majority of rental insurance situations.

Read more: All About the Chase Sapphire Rental Car Insurance Benefit. 


Chase Sapphire Preferred vs Reserve Insurance


Baggage Delay Insurance and Lost Luggage Reimbursement

When it comes to baggage delays and/or lost luggage, both cards will provide the same amount of coverage. If you check your bags and they’re delayed more than six hours, both will reimburse you up to $100 per day for up to five days. This coverage is meant to provide reimbursement for essential items like toiletries, clothing, and cell phone charging cables, for example.


Chase Sapphire Preferred vs Reserve Baggage Delay Insurance


Trip Cancellation and Delay Insurance

Both cards will also reimburse you for expenses incurred due to a delayed or canceled flight, train, bus, or other means of travel. And that reimbursement can be used for costs like meals, lodging, toiletries, etc. incurred because of the delay, and the delay must take place away from the cardholder’s primary city of residence.

The Sapphire Reserve card will reimburse you for any delay lasting six hours or more, while the Sapphire Preferred will reimburse you for delays lasting 12 hours or more. Cardholders will be covered along with their spouse or domestic partner and any dependent children under the age of 22 for up to $500 for each purchased ticket. The kicker here is that the trip must have been at least partially paid for with your Chase Sapphire card (or with Chase Ultimate Rewards points from the card).

So while you will get coverage for both cards, the Sapphire Preferred only kicks in after 12 hours. A potentially small price to pay considering the annual fee difference.


Chase Sapphire Preferred vs Reserve Trip Delay Insurance


Travel Accident Insurance

Finally, both cards will provide coverage for accidental death or dismemberment, or a combined loss of speech, sight, or hearing, experienced on a covered trip. Benefits are available when some portion of a covered trip has been purchased with either card or with Ultimate Rewards points earned on either card.

The difference comes in the amount of coverage each card provides. The Chase Sapphire Preferred will provide a benefit amount for the loss of life up to $500,000 while the Sapphire Reserve card will provide a benefit for loss of life up to $1,000,000. And while you always hope you never need travel accident coverage it’s invaluable when you need it. And a coverage amount of $500,000 is second to none on a card with an annual fee of only $95.


Chase Sapphire Preferred Vs Reserve Travel Accident Insurance


It's worth noting that the Sapphire Reserve card will provide coverage for a medical evacuation while the Sapphire Preferred will not. If you or a member of your immediate family are injured or become sick during a trip far from home that results in an emergency evacuation, you can be covered for medical services and transportation up to $100,000.

So at the end of the day, both cards offer fantastic coverage. But the coverage offered by the lower annual fee Sapphire Preferred should be more than adequate for the vast majority of travelers.


Bottom Line

Chase's Sapphire cards are some of the best out there for travelers. And there's no doubt the Chase Sapphire Reserve is the top dog with a ton of benefits.

But that doesn’t mean it’s for everyone – the Chase Sapphire Preferred card shouldn’t be overlooked. In fact, we think you should give the Sapphire Preferred Card a hard look over the Reserve card.


*chase sapphire preferred*


Learn more about the *csp*.

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.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

13 Responses

  • Hi Nick,

    If I have the Sapphire Reserve, can I still apply for the Sapphire Preferred, simply just to cash in on the 60,000 bonus points. I would probably keep it for a year and then not renew.

  • I saw something about credit card for international travel and money exchange, can’t find it now. I am going to South Korea in three weeks , got any tips.

  • Question,
    I the past I had a Chase Sapphire Preferred card. But I do not remember if it has been 48 months.
    I have been having a hard time finding a phone number to call and talk with a rep.
    All the automated “service robots” ask for an account number, which I do not have.
    Any phone number you can recommend?

      • Hi Nick, If we downgrade from the Reserve to the Preferred, do we lose value on accumulated points (from 1.5 cents each to 1.25 cents)? Also, if we’ve recently been charged our annual fee, would Chase likely credit us the difference? Thanks!

        • Hi Terri. Great questions.

          1. You would lose the value of your accumulated points as they would then redeem at 1.25 cents each through the portal. However, no matter which version you have, transfers to partner airlines and hotels will be at 1:1.

          2. If your annual fee hit within the last 30 days, they should be able to credit the annual fee difference.

  • Hey Nick! We’ve used and closed one of our Preferred cards after earning the bonus. When can we apply again? Is that 24 months from when the card was opened, or from when it was closed? Thanks!

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