Chase Sapphire Preferred vs Reserved: Breakdown
Similar to the Capital One Venture vs Venture X debate, the Chase Sapphire Preferred vs Reserved is another common question in the community of travel credit cards so let’s breakdown the benefits of each to help you determine which one is right for you!
Annual Fee:
Preferred - $95
Reserved - $550
So clearly a stark contrast between the two so let’s see why the Reserved is so much higher.
Bonus Offer:
At the time I’m writing this both cards are offering 60,000 bonus points after you spend $4,000 in the first 3 months.
Rewards Program:
Preferred -
5 points per $1 spent on all travel purchased through Chase Ultimate Rewards, which is essentially their travel portal.
3 points per $1 dollar spent on dining (including eligible delivery services)
3 points per $1 dollar spent on select streaming services including: Apple TV, ESPN+, Hulu, Netflix, Peacock, Paramount and so many more!
3 points per $1 dollar spent on online grocery stores (does not include Target, Walmart and wholesale clubs).
2 points per $1 dollar spent on travel not purchased through the Chase Travel portal.
1 point per $1 dollar spent on all other purchases.
Points are worth 1.25 cents each when redeemed for travel through the Chase Portal.
Reserved -
10 points per $1 dollar spent on Chase Dining purchases through Ultimate Rewards.
10 points per $1 dollar spent on hotels and rental cars purchased through Ultimate rewards.
5 points per $1 dollar spent on air travel purchased through Ultimate Rewards.
3 points per $1 dollar spent on travel and dinning not booked through Chase.
1 point per $1 dollar spent on other purchases.
Points are worth 1.5 cents each when redeemed for travel through Chase Ultimate Rewards.
Additional Benefits:
Preferred -
$50 annual credit on hotel stays purchased through Chase Ultimate Rewards.
Each account anniversary you earn bonus points equal to 10% of total purchases made in the previous year.
No additional fee to add an authorized user.
Travel Insurance: Auto Rental collision damage waiver, lost luggage reimbursement, trip cancellation insurance and trip delay reimbursement.
1:1 transfer partner ratio with Chase’s partners which include, Hyatt, Marriott, Southwest, JetBlue and more!
No foreign transaction fee.
Reserved -
$300 annual credit on travel related purchases through Chase Ultimate Rewards, including airfare, hotel stays and rental cars.
$75 fee to add an authorized user.
Airport Lounge Access: Access to over 1,400 airport lounges worldwide through Priority Pass Select.
No foreign transaction fee.
Travel Insurance: Auto Rental collision damage waiver, lost luggage reimbursement, trip cancellation insurance and trip delay reimbursement.
$100 reimbursement every four years when you use this card to apply for Global Entry, TSA pre-check and NEXUS.
Why Choose the Preferred over the Reserved?
This card is for you if you are just getting started with travel rewards and aren’t ready to pay the steep annual fee of $550. The benefits are solid enough to satisfy most travelers and serve as a good starting point for those who want to get familiar with travel reward programs before committing to a more “premier” card.
Why Choose the Reserved over the Preferred?
I think the biggest deterrent is the $550 fee but keep in mind the annual $300 travel credit, so if you know you’ll be traveling and booking hotels and airfare through Chase then you can view that $550 fee as actually $250. I think the biggest difference maker however is access to the airport lounges via the Priority Pass which grants access to over 1,400 airport lounges in 140 countries, you can check out more details on the pass here. If comfort while waiting to board is important, then the card might be for you. Lastly, if you don’t have the patience to wait in lines then the $100 credit to apply for Global Entry and TSA pre-check might sway you to opt for this card!
My Opinion:
If I had to choose between the two cards I would opt for the Reserved. Knowing that I will travel every year I will definitely take advantage of the $300 travel credit essentially making the annual fee $250 instead of $550. On top of that, I’m pretty impatient and don’t like standing in lines at the airport, or anywhere really, so the $100 credit for TSA pre-check and Global Entry is a nice perk. The real decisive factor though is access to the lounges, the ability to relax in comfort and receive complimentary food and drinks while waiting for my flight is a huge win.
Like many things in life, it’s all down to personal preference and what you feel is worth it, but either way I don’t think you can go wrong with either card!