Forbes has partnered with The Points Guy for our coverage of credit card products. Forbes and The Points Guy may receive a commission from card issuers.
For the longest time, the Chase Sapphire Preferred was the stand-alone best card for people looking to enter the travel rewards game. That all changed when the Chase Sapphire Reserve came on the scene, offering premium perks at an elevated price. While both Sapphires consistently rank in my list of top travel rewards cards, they cater to different types of travelers. Both cards offer an identical signup bonus: 50,000 Chase Ultimate Rewards Points after spending $4,000 in the first three months, but their fees, earning structures, and perks are different.
| Card | Chase Sapphire Reserve | Chase Sapphire Preferred |
| Annual Fee | $450 | $95 (waived for the first 12 months) |
| Bonus Categories | 3x points on travel and dining, 1x on everything else | 2x points on travel and dining, 1x on everything else |
| Authorized User Bonus | N/A | 5,000 points after your authorized user makes a purchase in the first 3 months |
| Point Value when redeeming for travel through the Chase portal | 1.5 cents per point | 1.25 cents per point |
| Lounge Access | Priority Pass Select membership | N/A |
| Credits and Reimbursements | $300 annual travel credit and Global Entry/TSA PreCheck credit | N/A |
| Authorized User Fee | $75 | $0 |
While the Chase Sapphire Reserve has a higher annual fee, it makes up for it by offering elevated points earning on dining and travel, airport lounge access, and a $300 a year travel credit that really takes the sting out of the $450 annual fee. The best part about the travel credit is how broadly it’s applied, as anything from Uber to metro to airfare and hotels will automatically trigger reimbursement.
Travel and Baggage Insurance and Purchase Protection
While both of these cards can help you plan a dream vacation, they also have your back if things go wrong. They offer similar types of coverage but the exact terms vary a bit between cards.
| Card | Chase Sapphire Reserve | Chase Sapphire Preferred |
| Baggage Delay Insurance | Up to $100 a day for up to 5 days | Up to $100 a day for up to 5 days |
| Lost Baggage Reimbursement | Up to $3,000 per person (up to $500 per person for jewelry, watches, cameras, video recorders and other electronic equipment) | Up to $3,000 per person (up to $500 per person for jewelry, watches, cameras, video recorders and other electronic equipment) |
| Trip Delay Insurance | Up to $500 per ticket for delays of 6 or more hours (or requiring an overnight stay) | Up to $500 per ticket for delays of 12 or more hours (or requiring an overnight stay) |
| Trip Cancellation Insurance | Up to $10,000 per covered trip | Up to $10,000 per covered trip |
| Travel Accident Insurance | $1,000,000 for common carrier loss of life benefit; $100,000 for 24-hour loss of life benefit | $500,000 for common carrier loss of life benefit; $100,000 for 24-hour loss of life benefit |
| Rental Car Insurance | Primary; provides reimbursement up to $75,000 for theft and collision | Primary; “expensive and exotic cars” are excluded |
| Roadside Assistance | Coverage up to $50 per incident 4 times a year | $59.95 per service call |
| Purchase Protection |
Up to $10,000 per claim and up to $50,000 per year
|
Up to $500 per claim and up to $50,000 per account |
The Chase Sapphire Reserve has the best coverage of the two cards, with coverage kicking in earlier and extending to higher dollar amounts in most cases.
These differences are especially important if you hold both the Sapphire Preferred and the Sapphire Reserve. In every case you’ll come out ahead using your Sapphire Reserve for travel and large purchases. Not only will you earn 3 points per dollar instead of 2 on travel, but you’ll have broader insurance coverage and purchase protection if things go wrong.
Bottom Line
The Chase Sapphire Reserve card absolutely changed the game, offering high-end travel perks while still earning valuable Chase Ultimate Rewards Points, but Chase Sapphire Preferred is a great card to start out with since you’ll receive the same 50,000 point sign-up bonus and the annual fee is waived the first year. Once you give the Sapphire Preferred a test run, you can always product change to the Sapphire Reserve so you can start earning those 3x bonus pints. Ultimately you’ll have to run the numbers, look at the perks, and decide which better suits your travel needs.
Forbes has partnered with The Points Guy for our coverage of credit card products. Forbes and The Points Guy may receive a commission from card issuers.
