Preferred versus Reserve: How to decide which Chase Sapphire credit card is right for you

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 Summary List Placement

The Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® both earn Ultimate Rewards points, one of the most valuable loyalty currencies.

While the Chase Sapphire Reserve® offers perks, it has a much higher annual fee — $550, versus the Sapphire Preferred’s $95 annual fee. It also has more benefits, including lounge access and statement credits for DoorDash and travel. 
The Chase Sapphire Preferred® Card is a better option if you’re new to rewards cards, or if you travel only a few times a year. Plus, it offers a higher welcome bonus.

Both cards have added new non-travel benefits for cardholders to use in light of the coronavirus pandemic, including the option to use points toward groceries, dining, and more.
See Business Insider’s list of the best rewards credit cards » 

The two flavors of the Chase Sapphire card have helped catapult travel rewards into a mainstream obsession. The Chase Sapphire Preferred® Card is still one of the most-Googled cards despite debuting more than a decade ago, and the Chase Sapphire Reserve was so popular that Chase ran out of metal cards when it launched in 2016.

While the Sapphire Preferred has largely stayed the same in its 10-plus years of existence, the Chase Sapphire Reserve recently got a big update, adding 10x points on Lyft rides through March 2022, up to $120 in credits with DoorDash, and a year of complimentary Pink membership with Lyft.  Those new perks come with a higher annual fee, however: $550 per year compared to $95 for the Sapphire Preferred.

Chase Ultimate Rewards points are some of the most valuable credit card rewards around, so having either the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve® is a smart move if you want to use points to travel. But while it used to be relatively easy to make a case for the Reserve’s higher fee, the latest round of updates changes the equation a bit.

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Let’s dig into the Chase Sapphire cards’ biggest differences to help you decide which is a better choice for you.

Table of Contents: Masthead StickyChase Chase Sapphire Reserve®Chase Sapphire Preferred versus Sapphire Reserve: the biggest differences

 
Chase Sapphire Preferred
Chase Sapphire Reserve

Annual fee
$95
$550

Sign-up bonus

60,000 points after you spend $4K in the first 3 months of account opening
50K points after you spend $4K in the first 3 months of account opening

Points earning

2x points on travel and dining

3x points on Instacart and gas station purchases*

5x points on Lyft rides through 3/2022

5x points on eligible streaming services*

1 point per dollar on everything else

3x points on travel (after earning the $300 travel credit) and dining

5x points on Instacart and gas station purchases*

10x points on Lyft rides through 3/2022

10x points on eligible streaming services*

1 point per dollar on everything else

Point value when you redeem through Chase travel or Chase Pay Yourself Back
1.25 cents
1.5 cents

Authorized user fee
$0
$75

Other benefits and statement credits
N/A

Up to $300 annual travel credit

Airport lounge access with Priority Pass

Application fee credit for Global Entry or TSA …read more

Source:: Business Insider

      

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