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The Chase Sapphire Preferred® Card and Chase Sapphire Reserve® are two of the most popular travel rewards credit cards out there—and for good reason. They offer excellent opportunities to earn and redeem points, with some of the credit card industry’s top earnings structures and industry-leading options for redeeming points, plus sizable statement credits to offset annual fees. In short: They’re both long-term keepers and have incredibly loyal followings. Naturally, the Reserve, with its $550 annual fee, is packed with more benefits and credits than the Preferred ($95 annual fee), but both present excellent value propositions for travelers and credit card members.
While the cards campaigned hard for new customers during the COVID-19 pandemic with high introductory offers, continuous high demand for the cards has kept the number of these offers on the lower side since 2022. But now, for the first time, the Chase Sapphire Preferred and the Chase Sapphire Reserve have raised their introductory bonus to 75,000 bonus points if you spend $4,000 on purchases within the first three months of opening an account. Let’s put that in perspective: 75,000 points are worth more than $900 with the Preferred and $1,125 with the Reserve when redeemed through Chase Travel. (The bonus on the Reserve is worth more due to a higher redemption rate on Chase Travel.)
Here are the key details of each card, plus how to decide which Sapphire card is right for you.
Chase Sapphire Preferred offer details
Welcome offer: With the Chase Sapphire Preferred Card, earn 75,000 bonus points after spending $4,000 on new purchases within the first three months. You can cash out those bonus points for 1.25 cents apiece—a value equal to $937.50—on travel through the Chase Travel portal.
Annual fee: $95
Earn points: You’ll rack up points quickly with these impressive earnings rates:
- Five points per dollar spent on travel through Chase Travel and on Lyft rides
- Three points per dollar on dining, including takeout, eligible delivery services, and international restaurants
- Three points per dollar on select streaming services—including Disney+, Hulu, ESPN+, Netflix, Sling, Vudu, FuboTV, Apple Music, SiriusXM, Pandora, Spotify, and YouTube TV
- Three points per dollar on online grocery purchases (except for Target, Walmart, and wholesale clubs)
- Two points per dollar on travel not booked through Chase—including airfare, hotels, trains, rideshares, and more
- One point per dollar on other purchases
Credits: Earn $50 back every year in statement credits for hotel stays purchased through Chase Travel. Also, cardholders earn bonus points equivalent to 10 percent of the total purchases they made the previous year. For example, if you spend $25,000 during the year, you will earn 2,500 bonus points. Not a lot, but every bit counts!
Key perks: Chase points are exceptionally versatile and can be transferred to 11 airlines and three hotel partners, including Hyatt, Southwest, United, and Air Canada Aeroplan. That means cardholders can rack up points on everyday spending, then convert them into points or miles with the partner program of their choosing when they need them for a specific redemption. Chase points can also be redeemed at 1.25 cents apiece for bookings through the Chase Travel portal or with select categories, which change quarterly, under the “Pay Yourself Back” feature.
Chase Sapphire Reserve offer details
Welcome offer: With the Chase Sapphire Reserve, earn 75,000 bonus points after spending $4,000 on new purchases within the first three months. You can cash out those bonus points for 1.50 cents apiece—a value equal to $1,125—on travel through the Chase Travel portal.
Annual fee: $550
Earn points: You’ll rack up points quickly with these impressive earnings rates:
- Ten points per dollar spent on hotel and car rentals through Chase Travel
- Five points per dollar spent on flights through Chase Travel
- Three points per dollar on dining, including takeout and international restaurants
- Three points per dollar on travel not booked through Chase—including airfare, hotels, trains, rideshares, and more
- One point per dollar on other purchases
Credits: Earn $300 back each year in statement credits for travel purchases, effectively reducing the annual fee to $250. Also, receive up to a $100 Global Entry or TSA Precheck or Nexus credit every four years.
Key perks: Gain access to Chase Sapphire Lounges, some of the best airport lounges in the world. Also get Priority Pass Select membership, which allows access to more than 1,500 airport lounges worldwide in the Priority Pass network. Moreover, Chase points are exceptionally versatile and can be transferred to 11 airlines and three hotel partners, including Hyatt, Southwest, United, and Air Canada Aeroplan. That means cardholders can rack up points on everyday spending, then convert them into points or miles with the partner program of their choosing when needed for a specific redemption (same as Preferred). Different from the Preferred, Chase points through the Reserve can be redeemed at a rate of 1.50 cents apiece for bookings through the Chase Travel portal or with select categories, which change quarterly, under the “Pay Yourself Back” feature.
Chase Sapphire Preferred vs. Reserve
If you know you aren’t willing to spend more than $95 on an annual fee under any circumstance, stop here. The Chase Sapphire Preferred Card is an amazing travel rewards credit card—arguably the best low-fee card on the market—and you can’t go wrong with it.
However, if you are willing to weigh the annual fee versus card benefits, the Chase Sapphire Reserve is an even better card and more than pays for itself. How so? First, follow some simple math to discover that, after annual credits, the annual fee isn’t that daunting. In every year of Chase Sapphire Reserve card membership, you’ll get up to $300 back in statement credits for travel purchases charged to your card. In effect, this lowers the annual fee from $550 to $250.
Then, of course, there are the other card perks (hello, lounge access, welcome bonus, and insurances) plus the reimbursement credit for Global Entry, TSA PreCheck, or Nexus every four years to factor in. Chase has been busy rolling out branded airport lounges—and let us tell you, they are stunners! So far, there are two in New York, one at JFK, another at LGA, and others in Boston, Washington Dulles, and Hong Kong, plus the Chase Sapphire Terrace, a smaller lounge alternative in Austin. On deck are lounges at airports in Las Vegas, Philadelphia, Phoenix, and San Diego. Chase Reserve card holders enter free of charge and may bring up to two guests per visit for free. Preferred cardholders do not have access to the Chase lounges.
In addition, Reserve cardholders get Priority Pass Select membership, allowing them to access more than 1,500 airport lounges around the world in the Priority Pass network, with two guests free of charge. (Keep in mind: Because of an affiliation between Priority Pass and Chase lounges, to enter Chase lounges you must first enroll in Priority Pass and then use your Priority Pass card to enter, not your actual Reserve card.)
Another great feature of the Reserve is the implicit travel insurance it provides for travel charged to the card. Sapphire Reserve carries the most thorough travel coverage of any credit card on the market, hands down. These key implicit travel insurances include the following: Emergency Evacuation and Transportation, Trip Interruption and Cancellation, Emergency Medical and Dental Benefit, Trip Accident Insurance, Trip Delay, Delayed Baggage, Lost Baggage, and Rental Car Insurance.
Can I get the bonus on both Chase Sapphire cards?
Unfortunately, you can’t get the bonus for Chase Sapphire Preferred Card if you have an open Chase Sapphire Reserve or vice versa. That said, if you had one of the cards in the past and no longer have it, you may be in the clear. You can get the bonus for a Chase Sapphire card more than once, but there must be 48 months between the two.
Why apply for a Chase Sapphire card now
Those who thought they missed out on the big welcome bonuses of years past now have their chance. With 75,000 Chase points, you can easily score a one-way international business-class seat through transfer partners like Air France/KLM Flying Blue, or a family dream trip through transfer partner World of Hyatt. They points can also be redeemed for gift cards or the travel purchase of your choice through the Chase Travel portal.
Regardless of glossy sign-up bonuses, the Chase Sapphire Preferred Card and the Chase Sapphire Reserve are industry leaders. Earning points is remarkably easy, and the sky’s the limit when it comes to redeeming them.
While the offers mentioned above are accurate at the time of publication, they are subject to change at any time and might have changed or may no longer be available.
