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Chase Sapphire Preferred vs. Sapphire Reserve: Reserve Dethroned
For casual and heavy travelers alike, the Chase Sapphire Preferred is a better all-around package.
Claire Tsosie is a managing editor for the Travel Rewards team at NerdWallet. She started her career on the credit cards team as a writer, then worked as an editor on New Markets. Her work has been featured by Forbes, USA Today and The Associated Press.
Erin is a former writer and assigning editor on the NerdWallet Content team who now heads NerdWallet's travel business. She's a credit card and travel rewards expert at NerdWallet, based in Baltimore, Maryland. She has spent nearly two decades showing readers unique ways to maximize their investments and personal finances. Prior to joining NerdWallet, Erin worked on dozens of newsletters and magazines in the areas of investing, health, business and travel with Agora Publishing. Her love of travel led to a passion for credit card and loyalty rewards to subsidize trips, and she thrives on teaching others how to harness the power of credit card rewards. When she's not helping NerdWallet readers find the best travel value, Erin is planning her next adventure for her family of four using points and miles.
Kenley Young directs daily credit cards coverage for NerdWallet. Previously, he was a homepage editor and digital content producer for Fox Sports, and before that a front page editor for Yahoo. He has decades of experience in digital and print media, including stints as a copy desk chief, a wire editor and a metro editor for the McClatchy newspaper chain.
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For frequent travelers, the Chase Sapphire Reserve® packs plenty of value with its high rewards rate, top-notch benefits and welcome offer, even with its annual fee of $795. The card debuted in 2016 to much fanfare; Chase even ran out of the metal credit cards when supply couldn’t keep up with demand.
For years, the Chase Sapphire Reserve® was actually a surprisingly more cost-effective choice than its $95-annual-fee sibling, the Chase Sapphire Preferred® Card. That’s because the card’s generous credits and perks outweighed the fee for many.
But now — thanks to a refresh of the Chase Sapphire Preferred® Card and a major overhaul of the Chase Sapphire Reserve® that included an annual fee increase (it jumped from $450 to $550in 2020 and then to $795 in 2025) — the Chase Sapphire Preferred® Card emerges the victor for many cardholders.
Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
Chase Sapphire Reserve®
Earn 150,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
Rewards
Chase Sapphire Preferred® Card
5 points per $1 spent on all travel booked through Chase.
3 points per $1 spent on dining (including eligible delivery services and takeout).
3 points per $1 spent on select streaming services.
3 points per $1 spent on online grocery purchases (not including Target, Walmart and wholesale clubs).
2 points per $1 spent on travel not booked through Chase.
1 point per $1 spent on other purchases.
Through September 2027: 5 points per $1 spent on Lyft.
Chase Sapphire Reserve®
8 points per $1 spent on travel bookings purchased through Chase's travel portal, including flights, hotels, rental cars, cruises, activities and tours.
4 points per $1 spent on bookings made directly with an airline or hotel.
3 points per $1 spent at restaurants, including eligible food delivery.
1 point per $1 spent on all other purchases.
Through Sept. 2027: 5 points per $1 spent on Lyft (plus a $10 monthly Lyft credit).
Other benefits
Chase Sapphire Preferred® Card
A $50 annual credit on hotel stays booked through Chase.
Each account anniversary, cardmembers will earn bonus points equal to 10% of total purchases made the previous year.
1:1 transfer partners, including United, Southwest, JetBlue, Marriott and Hyatt.
Chase Sapphire Reserve®
$300 annual credit, automatically applied to travel spending.
1:1 transfer partners (same as the Chase Sapphire Preferred® Card).
Access to more than 1,000 airport lounges worldwide through Priority Pass Select.
Application credit every four years for TSA PreCheck, Global Entry or NEXUS application fees charged to your card.
Access to “Reserved by Sapphire” restaurant-booking feature.
Up to $500 in credit for The Edit, Chase’s high-end hotel portal, in the form of two $250 credits a year.
Up to $300 in credit at restaurants in the Sapphire Reserve Exclusive Tables program. You get this as two separate credits of $150 in each half of the year.
Up to $300 in statement credit for StubHub, in the form of two $150 credits a year.
Up to $250 toward Apple TV+ and Apple Music subscriptions.
Up to $120 in credit toward Peloton membership, available at $10 a month. Plus you earn 10 points per dollar on eligible Peloton purchases.
Complimentary IHG One Rewards Platinum Elite Status through Dec. 31, 2027.
If you spend $75,000 or more on the card each year, you’ll also get a $500 credit for Southwest Airlines flights booked through Chase, Southwest A-List status, IHG One Rewards Diamond Elite Status and a $250 credit for purchases through The Shops at Chase.
Why the Chase Sapphire Preferred® Card wins for most
More rewarding across a broader swath of spending, with a kicker
While the Chase Sapphire Reserve® boasts a few eye-popping reward rates (largely for spending through Chase), the Chase Sapphire Preferred® Card earns more for popular everyday spending categories:
3 points per $1 spent on dining (including eligible delivery services and takeout).
3 points per $1 spent on select streaming services.
3 points per $1 spent on online grocery purchases (not including Target, Walmart and wholesale clubs).
The Chase Sapphire Reserve® earns the same 3 points per $1 spent on most dining, but all streaming and grocery purchases will earn just 1 point per $1 spent.
The Chase Sapphire Preferred® Card also offers an interesting and potentially lucrative anniversary bonus each year that isn't found on the Chase Sapphire Reserve®. Each account anniversary, cardmembers will earn bonus points equal to 10% of total purchases made the previous year. That means $25,000 in spending will earn an additional 2,500 bonus points.
The Chase Sapphire Reserve® charges a $195 annual fee for each authorized user you add to the account. This isn’t unusual for luxury cards, but it changes the math if you’re looking to share the account with one or more people.
The Chase Sapphire Preferred® Card doesn’t charge for adding authorized users.
Lower annual fee
If you're unsure whether you'll use most of the benefits or credits that come with the Chase Sapphire Reserve®, or you know you won't, it simply isn't worth the $795 annual fee — despite its superior ongoing rewards. The Chase Sapphire Preferred® Card will likely be a more cost-effective option, especially because it has the same 1:1 transfer partners as the Chase Sapphire Reserve®, a generous welcome offer, and an annual fee that is a staggering $700 cheaper than its counterpart.
Nerdy Perspective
Preferred or Reserve?
Caitlin Mims
Editor & Content Strategist
"I’m enthusiastically team Preferred. Compared to the Reserve, it has similar travel protections and stronger rewards for a much lower annual fee. If you travel through airports with a Chase Lounge or prefer to book travel through Chase’s portal, the Reserve is a great option. But since I don’t, the Preferred works better for me."
"I’m enthusiastically team Preferred. Compared to the Reserve, it has similar travel protections and stronger rewards for a much lower annual fee. If you travel through airports with a Chase Lounge or prefer to book travel through Chase’s portal, the Reserve is a great option. But since I don’t, the Preferred works better for me."
Caitlin Mims
Editor & Content Strategist
Sally French
Lead Writer/Spokesperson
"I'm a sucker for airport lounges, so I always see the Reserve as more valuable than the Preferred. Even though the annual fee is far higher, the annual travel statement credit makes it a lot easier to justify. Plus, I get huge value out of the higher redemption rate from the Reserve in the Chase travel portal. While transfer partners are great, sometimes it's easier to just book things like rental cars directly through Chase, where my Reserve makes that redemption far more valuable."
"I'm a sucker for airport lounges, so I always see the Reserve as more valuable than the Preferred. Even though the annual fee is far higher, the annual travel statement credit makes it a lot easier to justify. Plus, I get huge value out of the higher redemption rate from the Reserve in the Chase travel portal. While transfer partners are great, sometimes it's easier to just book things like rental cars directly through Chase, where my Reserve makes that redemption far more valuable."
Sally French
Lead Writer/Spokesperson
Kenley Young
Managing Editor
"Over the long haul, the Preferred wins for me. Yes, the Reserve has the easy-to-use travel credit and superior perks, and I did derive a lot of value from the card when I had it. But after a couple of years, I grew weary of the hefty annual fee, which has only increased over time. The Preferred offers a gracious plenty for me in terms of value, for a much more palatable fee. Its ongoing rewards also match up better with my spending."
"Over the long haul, the Preferred wins for me. Yes, the Reserve has the easy-to-use travel credit and superior perks, and I did derive a lot of value from the card when I had it. But after a couple of years, I grew weary of the hefty annual fee, which has only increased over time. The Preferred offers a gracious plenty for me in terms of value, for a much more palatable fee. Its ongoing rewards also match up better with my spending."
Kenley Young
Managing Editor
Craig Joseph
Lead Writer
"The answer is 'it depends.' I keep the Preferred to combine rewards from my other Chase cards and access travel partners with my Chase Ultimate Rewards. Since I have another premium travel card, the benefits on the Reserve become redundant, whereas the lower annual fee on the Preferred is easy to make up for by tactically transferring points to partners for travel redemptions."
"The answer is 'it depends.' I keep the Preferred to combine rewards from my other Chase cards and access travel partners with my Chase Ultimate Rewards. Since I have another premium travel card, the benefits on the Reserve become redundant, whereas the lower annual fee on the Preferred is easy to make up for by tactically transferring points to partners for travel redemptions."
Craig Joseph
Lead Writer
Caitlin Mims
Editor & Content Strategist
"I’m enthusiastically team Preferred. Compared to the Reserve, it has similar travel protections and stronger rewards for a much lower annual fee. If you travel through airports with a Chase Lounge or prefer to book travel through Chase’s portal, the Reserve is a great option. But since I don’t, the Preferred works better for me."
"I’m enthusiastically team Preferred. Compared to the Reserve, it has similar travel protections and stronger rewards for a much lower annual fee. If you travel through airports with a Chase Lounge or prefer to book travel through Chase’s portal, the Reserve is a great option. But since I don’t, the Preferred works better for me."
Caitlin Mims
Editor & Content Strategist
Sally French
Lead Writer/Spokesperson
"I'm a sucker for airport lounges, so I always see the Reserve as more valuable than the Preferred. Even though the annual fee is far higher, the annual travel statement credit makes it a lot easier to justify. Plus, I get huge value out of the higher redemption rate from the Reserve in the Chase travel portal. While transfer partners are great, sometimes it's easier to just book things like rental cars directly through Chase, where my Reserve makes that redemption far more valuable."
"I'm a sucker for airport lounges, so I always see the Reserve as more valuable than the Preferred. Even though the annual fee is far higher, the annual travel statement credit makes it a lot easier to justify. Plus, I get huge value out of the higher redemption rate from the Reserve in the Chase travel portal. While transfer partners are great, sometimes it's easier to just book things like rental cars directly through Chase, where my Reserve makes that redemption far more valuable."
Sally French
Lead Writer/Spokesperson
Kenley Young
Managing Editor
"Over the long haul, the Preferred wins for me. Yes, the Reserve has the easy-to-use travel credit and superior perks, and I did derive a lot of value from the card when I had it. But after a couple of years, I grew weary of the hefty annual fee, which has only increased over time. The Preferred offers a gracious plenty for me in terms of value, for a much more palatable fee. Its ongoing rewards also match up better with my spending."
"Over the long haul, the Preferred wins for me. Yes, the Reserve has the easy-to-use travel credit and superior perks, and I did derive a lot of value from the card when I had it. But after a couple of years, I grew weary of the hefty annual fee, which has only increased over time. The Preferred offers a gracious plenty for me in terms of value, for a much more palatable fee. Its ongoing rewards also match up better with my spending."
Kenley Young
Managing Editor
Craig Joseph
Lead Writer
"The answer is 'it depends.' I keep the Preferred to combine rewards from my other Chase cards and access travel partners with my Chase Ultimate Rewards. Since I have another premium travel card, the benefits on the Reserve become redundant, whereas the lower annual fee on the Preferred is easy to make up for by tactically transferring points to partners for travel redemptions."
"The answer is 'it depends.' I keep the Preferred to combine rewards from my other Chase cards and access travel partners with my Chase Ultimate Rewards. Since I have another premium travel card, the benefits on the Reserve become redundant, whereas the lower annual fee on the Preferred is easy to make up for by tactically transferring points to partners for travel redemptions."
Craig Joseph
Lead Writer
Caitlin Mims
Editor & Content Strategist
"I’m enthusiastically team Preferred. Compared to the Reserve, it has similar travel protections and stronger rewards for a much lower annual fee. If you travel through airports with a Chase Lounge or prefer to book travel through Chase’s portal, the Reserve is a great option. But since I don’t, the Preferred works better for me."
"I’m enthusiastically team Preferred. Compared to the Reserve, it has similar travel protections and stronger rewards for a much lower annual fee. If you travel through airports with a Chase Lounge or prefer to book travel through Chase’s portal, the Reserve is a great option. But since I don’t, the Preferred works better for me."
Caitlin Mims
Editor & Content Strategist
Sally French
Lead Writer/Spokesperson
"I'm a sucker for airport lounges, so I always see the Reserve as more valuable than the Preferred. Even though the annual fee is far higher, the annual travel statement credit makes it a lot easier to justify. Plus, I get huge value out of the higher redemption rate from the Reserve in the Chase travel portal. While transfer partners are great, sometimes it's easier to just book things like rental cars directly through Chase, where my Reserve makes that redemption far more valuable."
"I'm a sucker for airport lounges, so I always see the Reserve as more valuable than the Preferred. Even though the annual fee is far higher, the annual travel statement credit makes it a lot easier to justify. Plus, I get huge value out of the higher redemption rate from the Reserve in the Chase travel portal. While transfer partners are great, sometimes it's easier to just book things like rental cars directly through Chase, where my Reserve makes that redemption far more valuable."
Sally French
Lead Writer/Spokesperson
Kenley Young
Managing Editor
"Over the long haul, the Preferred wins for me. Yes, the Reserve has the easy-to-use travel credit and superior perks, and I did derive a lot of value from the card when I had it. But after a couple of years, I grew weary of the hefty annual fee, which has only increased over time. The Preferred offers a gracious plenty for me in terms of value, for a much more palatable fee. Its ongoing rewards also match up better with my spending."
"Over the long haul, the Preferred wins for me. Yes, the Reserve has the easy-to-use travel credit and superior perks, and I did derive a lot of value from the card when I had it. But after a couple of years, I grew weary of the hefty annual fee, which has only increased over time. The Preferred offers a gracious plenty for me in terms of value, for a much more palatable fee. Its ongoing rewards also match up better with my spending."
Kenley Young
Managing Editor
Craig Joseph
Lead Writer
"The answer is 'it depends.' I keep the Preferred to combine rewards from my other Chase cards and access travel partners with my Chase Ultimate Rewards. Since I have another premium travel card, the benefits on the Reserve become redundant, whereas the lower annual fee on the Preferred is easy to make up for by tactically transferring points to partners for travel redemptions."
"The answer is 'it depends.' I keep the Preferred to combine rewards from my other Chase cards and access travel partners with my Chase Ultimate Rewards. Since I have another premium travel card, the benefits on the Reserve become redundant, whereas the lower annual fee on the Preferred is easy to make up for by tactically transferring points to partners for travel redemptions."
Craig Joseph
Lead Writer
Why you might want the Chase Sapphire Reserve® instead
Chase automatically applies this credit to any travel purchases you make with your card — including airlines, hotels, timeshares, campground fees and ferries, among other categories — effectively canceling out a large portion of its annual fee.
Once you factor in the $300 easy-to-use credit, the Chase Sapphire Reserve® has an effective annual fee of $495. Still not cheap, but more palatable, and that's before factoring in the card's plethora of perks and additional benefits.
With the Chase Sapphire Reserve®, you get Priority Pass Select access to more than 1,000 airport lounges worldwide. That means you can relax in a comfy armchair before your flight and take advantage of free snacks and drinks. Chase Sapphire Reserve® cardholders also have access to Chase's Sapphire Lounge locations in select airports.
The card offers reimbursement every four years for the application fee Global Entry, TSA PreCheck or NEXUS, which can let you sail through customs or security lines on your next trip.
The Chase Sapphire Reserve® also comes with yearly credits from various travel, dining and shopping merchants that add up to thousands of dollars in value per year. While these credits can help chip away at the annual fee, keeping track of and using them will require work and won’t be worth it for some cardholders.
The Chase Sapphire Preferred® Card lacks these travel perks.
Points are potentially worth more for travel through Chase
Both cards offer rewards with plenty of versatility, allowing you to transfer points to some airlines and hotels — such as British Airways, United and Hyatt — at a 1:1 ratio:
Full list of Chase transfer partners Full list of Chase transfer partners
Airlines
Aer Lingus (1:1 ratio).
Air Canada (1:1 ratio).
Air France-KLM (1:1 ratio).
British Airways (1:1 ratio).
Iberia (1:1 ratio).
JetBlue (1:1 ratio).
Singapore (1:1 ratio).
Southwest (1:1 ratio).
United (1:1 ratio).
Virgin Atlantic (1:1 ratio).
Hotels
Hyatt (1:1 ratio).
IHG (1:1 ratio).
Marriott (1:1 ratio).
Wyndham (1:1 ratio).
Plus, prior to the sweeping changes Chase made to its redemption policy in 2025, if you booked travel through Chase you’d earn 1.5 cents per point on the Chase Sapphire Reserve® — compared with 1.25 cents per point on the Chase Sapphire Preferred® Card. This still applies for customers who had the Chase Sapphire Reserve® or applied for it before June 23, 2025. Those cardholders can continue to redeem their points earned before Oct. 26, 2025, at the prior 1.5 cents per point, until Oct. 26, 2027.
However, if you apply for the Chase Sapphire Reserve® on or after June 23, 2025, you can redeem points for up to 2 cents apiece only on rotating flights and hotel stay offers with Chase’s new Points Boost redemption feature. All other point redemptions for travel via Chase that are not eligible for Points Boost are worth 1 cent each. The Points Boost system will take full effect for all cardholders beginning Oct. 26, 2027.
Note that the Points Boost redemption system also applies to the Chase Sapphire Preferred® Card, and it'll phase in similarly. For new cardholders, points earned with the card are worth up to 1.5 cents each for hotels and flights with select airlines, and up to 1.75 cents each for premium cabin tickets on select airlines booked through Chase. On all bookings not eligible for Points Boost, you get a value of 1 cent per point.
Which card should you get?
With its generous welcome bonus, solid rewards in many everyday spending categories, anniversary bonus rebate, $50 annual hotel credit and double-digit annual fee, the Chase Sapphire Preferred® Card packs a powerful punch, even for frequent travelers.
That said, for those who spend frequently through Chase, value benefits like lounge access, and would make use of its “coupon book”-style credits, the long-term winner could be the Chase Sapphire Reserve®.
Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.
