Chase Sapphire Preferred ($95 AF) vs Sapphire Reserve ($550 AF) — same family, very different value math. Preferred wins for moderate travelers; Reserve only justifies its fee if you reliably use the $300 travel credit + lounge access.
Chase
Best overall travel rewards card under $100 annual fee.
Pros
Chase
Premium travel card with $300 travel credit and lounge access.
Pros
Pick Chase Sapphire Preferred if: Regular travelers who want transferable points, strong dining rewards, and a manageable fee.
Pick Chase Sapphire Reserve if: Frequent travelers who will use the $300 travel credit and Priority Pass lounge access regularly.
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The $550 annual fee is net $250 after the $300 travel credit (automatically applied to all travel purchases). On top of that, Priority Pass lounge access is worth roughly $30–$40 per visit for frequent travelers. For the Reserve to beat the Preferred on pure fee math, you need to use the $300 travel credit every year AND make at least 3-4 lounge visits annually. If you travel 10+ times per year, the Reserve typically pencils. Below 4-5 trips per year, the Preferred's $95 fee is almost always the better value. Verify current terms at chase.com.
Chase Sapphire Preferred: $95 per year. Chase Sapphire Reserve: $550 per year. The Sapphire Reserve includes a $300 annual travel credit that automatically applies to travel purchases, making the effective cost $250/year if you spend at least $300 on travel. The Reserve also includes Priority Pass Select airport lounge membership, DoorDash DashPass, and 3x on dining vs the Preferred's also-3x. Both cards charge no foreign transaction fees. Confirm current fees at chase.com before applying.
No. Chase's policy allows only one Sapphire-family card at a time — you cannot hold both Sapphire Preferred and Sapphire Reserve simultaneously. You can product-change (downgrade or upgrade) between them by calling the number on the back of your card, which does not require a new application or hard inquiry, but the change moves you from one card to the other. If you want to upgrade from Preferred to Reserve without losing your card anniversary, call Chase and request a product change.
Both Chase Sapphire cards typically approve applicants with 720+ FICO. The 5/24 rule applies to both — Chase denies applicants who have opened 5 or more personal credit card accounts (across any issuer) in the past 24 months. Income requirements are not publicly specified but Chase looks for income sufficient to service the credit limit. If you're under 5/24 with 720+ FICO and no derogatories, approval odds are strong for either card.
Both cards include trip cancellation and interruption insurance, but the Reserve's coverage limits are higher. Chase Sapphire Reserve provides up to $10,000 per person ($20,000 per trip) for trip cancellation/interruption, plus trip delay reimbursement up to $500/ticket after a 6-hour delay. Sapphire Preferred offers up to $10,000 per person/$20,000 per trip for trip cancellation but a lower trip delay benefit (up to $500/ticket after 12 hours). Both include lost/delayed baggage coverage. The Reserve also adds emergency evacuation coverage and emergency medical/dental coverage abroad. Charge the full trip to your card to trigger the insurance. Verify current benefit terms and limits at chase.com/creditcards/benefits.
Chase Sapphire Preferred earns 5X on travel booked through Chase Travel, 3X on dining, 3X on select streaming, 2X on all other travel, and 1X elsewhere. Chase Sapphire Reserve earns 10X on hotels and car rentals through Chase Travel, 10X on Chase Dining, 5X on flights through Chase Travel, 3X on all other travel and dining, and 1X elsewhere. Both earn Ultimate Rewards that transfer 1:1 to the same airline and hotel partners (United, Southwest, Hyatt, Marriott, etc.). For heavy Chase Travel users, the Reserve's multipliers are significantly higher; for direct purchases at restaurants, both earn 3X. Verify current bonus categories at chase.com.
Both Chase Sapphire Preferred and Reserve include primary rental car insurance — meaning you do not file with your personal auto insurer first, which avoids a rate-increase risk. Both cover physical damage and theft for rentals up to 31 consecutive days. The Reserve adds a higher reimbursement ceiling and extends coverage to luxury and exotic vehicles that many other cards exclude. For standard rental situations, either card's primary coverage is sufficient and lets you decline the rental counter's CDW fee. Charge the full rental to your card to activate the benefit, and verify the current coverage limits in the Guide to Benefits at chase.com.
Chase Sapphire Preferred and Reserve share the same Ultimate Rewards transfer partner network: United Airlines MileagePlus, Southwest Rapid Rewards, British Airways Executive Club, Air France/KLM Flying Blue, Singapore Airlines KrisFlyer, Aer Lingus AerClub, Emirates Skywards, Iberia Plus, Virgin Atlantic Flying Club, Hyatt World of Hyatt, Marriott Bonvoy, and IHG One Rewards. All transfers are 1:1 and typically instant for airline partners. The partner list is identical for both cards — the Reserve differs only in higher earn rates per dollar spent. Source: Chase Ultimate Rewards program terms at chase.com.
Yes. Chase allows a product change from Reserve to Preferred by calling the number on the back of your card. The change preserves your account history, credit limit, and all accrued Ultimate Rewards points — it does not require a new application or hard credit inquiry. A common strategy is to downgrade just before the Reserve's annual fee posts (shortly after your card anniversary) to avoid paying $550 for another year while keeping the account open. You cannot product-change within the first 12 months of opening the Reserve. Call Chase customer service to confirm eligibility and timing. Source: Chase cardholder terms at chase.com.
Both Chase Sapphire Preferred and Reserve earn 3X Ultimate Rewards on dining — including restaurants, takeout, and eligible delivery apps. The Reserve adds 10X on Chase Dining (select restaurants booked through Chase Travel) and includes DoorDash DashPass membership free of charge, which saves the delivery fee on eligible orders. For everyday restaurant spending outside the Chase ecosystem, the 3X earn rate is identical on both cards. The Reserve's practical dining advantage is DashPass and Chase Dining multipliers — neither is available on the Preferred. If you use DoorDash regularly, the Reserve's included DashPass is meaningful. Verify current DashPass availability and Chase Dining at chase.com.
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