Chase Sapphire Preferred vs. Reserve: Which Should You Get?

The Chase Sapphire Preferred and Sapphire Reserve are two of the best travel rewards cards available. They share the same points currency, similar earning structures, and access to the same transfer partners.

So why does one cost $95 and the other $550?

This guide breaks down exactly when each card makes sense—with real math, not marketing fluff.

The True Cost Analysis

Sapphire Preferred: $95/year

Net cost: $95 - $50 hotel credit = $45 effective

(The $50 credit requires booking through Chase Travel, so it’s not quite free money, but easy to use.)

Sapphire Reserve: $550/year

Net cost: $550 - $300 travel credit = $250 effective

(The $300 credit is flexible—flights, hotels, Ubers, parking—easy to use completely.)

The Real Question

Is the Reserve worth $205 more than the Preferred ($250 - $45)?

That $205 buys you:

• Lounge access (Priority Pass)
• Higher portal redemption (1.5¢ vs. 1.25¢)
• Better travel earning (3X vs. 2X on travel)
• Global Entry/TSA PreCheck credit ($100 value every 4.5 years)
• Better trip delay insurance

When the Preferred Wins

You Don’t Use Lounges

If you never visit airport lounges—or fly Southwest/budget carriers without Priority Pass lounges—this perk is worth $0 to you.

You Fly Rarely (1-2 times per year)

Minimal lounge value. Less travel spending for the 3X vs. 2X difference to matter.

You Transfer Points Instead of Using the Portal

If you transfer to Hyatt or airline partners (often getting 1.8-2.5¢/point), the portal difference (1.5¢ vs. 1.25¢) doesn’t matter.

You’re Price Sensitive

$95 is easier to swallow than $550, even if the net difference is $205. Cash flow matters.

You Want Online Grocery/Streaming Bonuses

The Preferred earns 3X on online groceries and streaming—the Reserve doesn’t. If you spend heavily here, the Preferred has earning advantages.

What About the Welcome Bonus?

Welcome bonuses change frequently. As of now:

Card	Typical Bonus	Spend Requirement
Preferred	60,000 points	$4,000 in 3 months
Reserve	60,000 points	$4,000 in 3 months

When bonuses are equal, start with the Preferred:

• Lower fee in year one
• Can upgrade to Reserve later
• Earns the same bonus

When Reserve has a higher bonus:

• Do the math: Is the extra bonus worth the extra fee in year one?

The Verdict: Which Should YOU Get?

Get the Sapphire Preferred If:

• You fly 1-3 times per year
• You don’t use airport lounges
• You transfer points to partners
• You want to minimize annual fees
• You’re testing the Chase ecosystem

Annual cost: ~$45 effective Best for: Moderate travelers, point transferrers, cost-conscious

Get the Sapphire Reserve If:

• You fly 6+ times per year
• You use airport lounges
• You redeem heavily through Chase Travel
• You have high travel spending
• You value premium travel benefits

Annual cost: ~$250 effective Best for: Frequent travelers, lounge lovers, premium perk users

Start with Preferred, Upgrade Later If:

• You’re unsure which fits
• You’re new to travel rewards
• You want to test before committing

The Bottom Line

Sapphire Preferred is the right choice for most people. At $95/year, it provides premium travel benefits, transfer partner access, and solid earning without breaking the bank.

Sapphire Reserve makes sense for travelers who fly frequently (6+ times/year), use lounges, and redeem points through the Chase portal. The extra $205 effective cost is easily covered by lounge visits and better redemption rates.

When in doubt: Start with the Preferred. You can always upgrade. But downgrading means giving up a year of Reserve benefits you’ve already paid for.