Chase Sapphire Preferred vs. Reserve — Which One Wins?
The Reserve costs $700 more a year. After the easy $300 travel credit, it has to earn back about $495 more than the Preferred. Here’s the math on who comes out ahead.
For most people, the Sapphire Preferred wins. At $95 with up to $100 a year in Chase Travel hotel credits, it costs close to nothing if you book one hotel through Chase, and it earns 3x on dining, gas and streaming. The Sapphire Reserve ($795) wins only if you’ll use about $495 or more of its extras each year on top of the $300 travel credit — The Edit hotel credit, the dining credit, lounges, StubHub and Apple credits. Use the rewards calculator to model your numbers.
Side-by-side comparison
| Feature | Sapphire Preferred ($95/yr) | Sapphire Reserve ($795/yr) |
|---|---|---|
| Annual fee | $95 | $795 |
| Travel credit | Up to $100/yr on hotels booked through Chase Travel | $300/yr on any travel (applied automatically) |
| Other credits | 10% anniversary points bonus | The Edit hotels (up to $500/yr), dining (up to $300/yr), StubHub (up to $300/yr), Apple TV+/Music, DoorDash, Lyft, Peloton |
| Chase Travel earn | 5x | 8x |
| Flights & hotels booked direct | 2x | 4x |
| Dining | 3x | 3x |
| Gas, EV charging, streaming, online grocery | 3x | 1x |
| Redeeming through Chase Travel | Points Boost: up to 1.5¢ on select bookings | Points Boost: up to 2¢ on select bookings |
| Airport lounges | ✗ None | ✓ Priority Pass + Chase Sapphire Lounges |
| Global Entry / TSA PreCheck credit | ✗ | ✓ Up to $120 every 4 years |
| Primary rental car insurance | ✓ | ✓ |
| Hyatt transfers | 4:3 (since June 2026 for new cardholders) | 1:1 |
| Other transfer partners | Same airlines and hotels, 1:1 | Same airlines and hotels, 1:1 |
| Welcome bonus (Sept 2026) | 75,000 pts after $5,000 in 3 months | 100,000 pts after $6,000 in 3 months |
Card terms checked September 2026 on chase.com. Welcome offers change often. Full credit score guide: Chase Sapphire Preferred credit score requirements →
The break-even math
Take the $300 travel credit off the Reserve and the $100 hotel credit off the Preferred, and the Reserve still costs about $495 more a year. Here’s where that value can come from — count only what you’d use anyway:
- The Edit hotel credit (up to $500): $250 back on each of two prepaid stays of 2+ nights at The Edit luxury hotels booked through Chase Travel. On its own it can cover the gap — but only if you book those hotels.
- Dining credit (up to $300): $150 twice a year at Sapphire Reserve Exclusive Tables restaurants on OpenTable. Useful if you live near participating restaurants.
- Lounges: Priority Pass plus Chase Sapphire Lounges, with guests. Worth roughly $30–50 a visit if you’d otherwise buy food at the airport.
- Higher earning on travel: 8x vs. 5x on Chase Travel and 4x vs. 2x on flights and hotels booked direct. On $6,000 a year booked direct, that’s 12,000 extra points — about $150–240 depending on how you redeem.
- What you give up: the Preferred earns 3x on gas, EV charging, streaming and online grocery, where the Reserve earns 1x. A household spending $3,000 a year there loses 6,000 points with the Reserve.
Bottom line: if you’ll use The Edit or the dining credit fully and visit lounges several times a year, the Reserve wins. Otherwise the Preferred is the better deal. Both earn Ultimate Rewards points that transfer 1:1 to United, Southwest, Air Canada Aeroplan, Flying Blue and more.
Not sure either card fits? The best travel cards with no annual fee still earn Ultimate Rewards points — including Chase Freedom Unlimited, whose points become transferable when paired with either Sapphire card.
Common questions
What is the difference between Chase Sapphire Preferred and Reserve?
Chase Sapphire Preferred costs $95 a year and earns 5x on Chase Travel, 3x on dining, gas, EV charging, streaming and online grocery, and 2x on other travel, with up to $100 a year in Chase Travel hotel credits. Chase Sapphire Reserve costs $795 a year and earns 8x on Chase Travel, 4x on flights and hotels booked direct and 3x on dining. It adds a $300 annual travel credit, Priority Pass and Sapphire Lounge access, and a long list of lifestyle credits.
Is the Chase Sapphire Reserve worth the $795 annual fee?
After the $300 travel credit, which most travelers use automatically, the Reserve costs about $495 a year. It is worth it only if you will actually use roughly $500 or more of its other benefits each year — for example The Edit hotel credit (up to $500), the dining credit (up to $300), lounge visits, or the StubHub and Apple credits. If you won't, the $95 Sapphire Preferred delivers better net value.
Which Chase Sapphire card should I get?
Get the Sapphire Preferred if you travel a few times a year and want strong earning and transferable points for $95. Get the Sapphire Reserve if you travel often, use airport lounges, and will use its hotel, dining and entertainment credits every year. Both earn Chase Ultimate Rewards points that transfer to the same airline and hotel partners, except that the Preferred now transfers to Hyatt at 4:3 while the Reserve stays 1:1.
What credit score is needed for Chase Sapphire cards?
Both cards are aimed at good to excellent credit — typically a score of 700 or higher. Both pull a hard inquiry. Chase also applies its 5/24 rule: if you've opened five or more personal cards from any issuer in the past 24 months, you will likely be denied.