Sapphire Reserve vs. Preferred

Last reviewed: September 2026. Chase can change rewards, annual fees, statement credits, travel benefits and promotional offers. Review the issuer's current terms before applying or relying on a specific benefit.

Chase Sapphire Reserve® and Chase Sapphire Preferred® are travel rewards credit cards that share the Chase Ultimate Rewards ecosystem but differ significantly in annual fee, earning structure and travel benefits.

The appropriate comparison depends on how often a cardholder travels, how much they spend in eligible categories and whether they are likely to use the statement credits and premium benefits attached to the higher-fee card.

Annual Fee

As of this review, the annual fees are:

• Chase Sapphire Preferred: $95;
• Chase Sapphire Reserve: $795.

The Reserve's higher annual fee should be compared with the benefits a particular cardholder would realistically use rather than assuming the available credits automatically offset the cost.

Current Rewards Structure

Sapphire Preferred

• 5X points on eligible travel purchased through Chase Travel;
• 3X points on dining;
• 3X points at gas stations and on eligible EV charging;
• 3X points on eligible vacation-home bookings through participating providers;
• 3X points on eligible online grocery purchases, subject to exclusions;
• 3X points on select streaming services;
• 2X points on other eligible travel purchases;
• 1X point on other eligible purchases.

Sapphire Reserve

• 8X points on eligible travel booked through Chase Travel;
• 4X points on eligible flights booked directly with airlines;
• 4X points on eligible hotels booked directly with hotels;
• 3X points on dining worldwide;
• 1X point on other eligible purchases.

The two cards therefore no longer fit the old description that Reserve simply earns “more on travel and dining.” Their current earning structures use different categories and booking methods.

Travel Credits

Sapphire Reserve currently provides up to $300 in annual statement credits for qualifying travel purchases.

The Reserve also includes additional credits tied to selected travel and lifestyle benefits, including qualifying prepaid stays through The Edit. Eligibility, timing and booking requirements apply.

Sapphire Preferred currently provides up to $100 in statement credits each account anniversary year for eligible hotel stays purchased through Chase Travel.

Purchases reimbursed by applicable hotel credits may not earn points according to the issuer's current terms.

Airport Lounge Access

This is one of the clearest differences between the two cards.

Eligible Sapphire Reserve cardholders currently receive access to Chase Sapphire Lounges by The Club and participating Priority Pass lounges, subject to enrollment and applicable access rules.

Sapphire Preferred does not currently include broad complimentary airport lounge membership as a standard benefit.

Trusted Traveler Program Credit

Sapphire Preferred currently includes up to a $120 statement credit toward an eligible Global Entry, TSA PreCheck® or NEXUS application fee, generally once every four years under the applicable terms.

Reserve also includes travel-related credits and benefits according to its current benefit structure.

Travel Protections

Both cards provide travel protections, but coverage differs by product and benefit.

Depending on the card, benefits can include eligible trip cancellation and interruption coverage, rental vehicle coverage, trip-delay reimbursement, baggage protections and other travel-related protections.

These benefits should not be described simply as “comprehensive travel insurance.” Coverage limits, exclusions, payment requirements and claim procedures apply.

Redeeming Points Through Chase Travel

A fixed redemption value should not be assumed for every Chase Travel booking. Sapphire Reserve cardmembers who applied before June 23, 2025 can still redeem points earned before October 26, 2025 at 1.5X through Chase Travel until October 26, 2027, receiving the higher eligible value between that rate and Points Boost. Preferred cardmembers should check their own Rewards Program Agreement and account for any applicable transition terms.

Account eligibility and when points were earned can therefore affect the redemption options available.

Chase now uses Points Boost on selected eligible flights and hotels through Chase Travel. Redemption value depends on the specific booking and offer displayed.

Consumers should therefore review the value shown during the actual redemption rather than assuming a fixed travel-portal value.

Transferring Ultimate Rewards Points

Both Sapphire cards can provide access to participating Chase airline and hotel transfer partners.

Transfer partners and ratios can change, and not every partner necessarily uses the same conversion rate.

Point transfers can also be final, so consumers may want to confirm availability and the applicable ratio before transferring rewards.

Foreign Transaction Fees

Neither Sapphire Preferred nor Sapphire Reserve currently charges foreign transaction fees on eligible purchases.

Which Card Has the Lower Ongoing Cost?

Sapphire Preferred has the substantially lower annual fee.

Reserve provides a larger package of travel credits, lounge access and premium benefits, but those features only create practical value when they are actually used.

A useful comparison is to estimate the benefits you expect to use during a normal year and compare that value with the annual fee and alternative cards.

Frequently Asked Questions

Does Sapphire Reserve always earn more points than Preferred?

No. The cards now have different earning structures. Preferred currently provides 3X points in categories such as gas, EV charging, dining, eligible vacation homes, online grocery purchases and select streaming services, while Reserve emphasizes Chase Travel and direct airline and hotel bookings.

Does Sapphire Preferred include airport lounge access?

Broad complimentary airport lounge membership is not currently listed as a standard Sapphire Preferred benefit.

Are Reserve points always worth 1.5 cents through Chase Travel?

Not for all points. Eligible legacy Reserve points can still receive 1.5X under Chase's transition rules. For other points, the booking value depends on the current redemption terms and any eligible Points Boost offer.

Does the higher Reserve annual fee automatically pay for itself?

No. The result depends on which benefits and credits the cardholder actually uses and how they value those benefits.

Final Considerations

Sapphire Preferred and Sapphire Reserve now differ in more than just annual fee and lounge access.

Consumers can compare the current earning categories, statement credits, travel protections, lounge access and expected annual use before deciding whether either product fits their circumstances.

For current details, review the official Chase Sapphire comparison.

This content is provided for informational and educational purposes only and does not constitute financial advice or a recommendation to apply for a particular credit product. Rewards, APRs, fees, benefits and promotional offers may change.