Chase offers two flagship cards that provide Ultimate Rewards, a flexible rewards currency that can be used for cash back, travel redemptions, or transferred to travel partners for luxury hotel suites and first-class flights.
Introduction
Are you torn between Chase Sapphire Preferred and Chase Sapphire Reserve? Don’t worry, we’ve got you covered! In this article, we’ll compare and contrast these two popular credit cards, highlighting their benefits and rewards. By the end, you’ll have a clear idea of which card is the perfect fit for you.
How the Cards Stack Up
Let’s start by looking at how the Chase Sapphire Preferred and Reserve cards stack up:
| Chase Sapphire Preferred | Chase Sapphire Reserve | |
|---|---|---|
| Welcome Bonus | 60,000 Ultimate Rewards points after spending $4,000 within three months | 60,000 Ultimate Rewards points after spending $4,000 within three months |
| Rewards | – 1.25 cents per point travel redemption – 2x on Travel – 10% anniversary points boost |
– 1.5 cents per point travel redemption – 3x on Travel |
| Additional Perks | – Robust travel and consumer insurance protections – Trip delay and primary auto collision damage waiver insurance |
– All benefits of the Sapphire Preferred – $300 annual travel credit – Priority Pass airport lounge access |
Rewards Winner
Both the Chase Sapphire Preferred and Reserve cards earn Ultimate Rewards, a flexible point currency that can be redeemed for cash back, travel bookings, or transferred to airline and hotel partners for increased value. However, the Chase Sapphire Reserve card outshines the Preferred card when it comes to earning and redeeming points for travel. The Reserve card earns more points per dollar spent on travel and offers a higher redemption value of 1.5 cents per point. This gives the Reserve card the edge in terms of rewards.
Annual Fee Winner
While the Chase Sapphire Reserve card has a higher annual fee, it offers additional benefits that justify the cost, such as a $300 annual travel credit and Priority Pass airport lounge access. If you’re a frequent traveler who can make use of these perks, the Reserve card is the clear winner. However, if you’re an occasional traveler, the lower annual fee of the Chase Sapphire Preferred card may be more suitable for you.
APR Winner
Surprisingly, the Chase Sapphire Preferred and Reserve cards offer different APR ranges. However, if carrying a balance is a concern for you, the Chase Sapphire Preferred card has a slightly lower APR, making it the winner in this category.
Foreign Transaction Fee Winner
Both the Chase Sapphire Preferred and Reserve cards are excellent choices for purchases abroad as neither charge a foreign transaction fee. This makes both cards equally appealing for international travelers.
Additional Perks
Both the Chase Sapphire Preferred and Reserve cards offer an impressive array of perks, including trip cancellation/interruption insurance, primary auto rental collision damage waiver insurance, and purchase protection. However, the Reserve card’s higher annual fee provides additional perks like a $300 annual travel credit and Priority Pass airport lounge access, giving it the edge in this category.
Which Card Earns the Most
If you spend heavily on travel, both the Chase Sapphire Preferred and Reserve cards can offer significant rewards. To determine which card earns the most, consider your own spending patterns and how they align with the cards’ bonus categories. By doing so, you can estimate how much you can earn in rewards based on your personal spending habits.
Which Card is Best for You
Choosing the right card depends on your travel habits. If you’re an occasional traveler, the Chase Sapphire Preferred card is a great choice. It offers additional points on travel and dining purchases, as well as elevated rewards for online grocery purchases and streaming services. Moreover, the card provides extensive travel insurance protections, adding value to your trips.
On the other hand, frequent travelers should strongly consider the Chase Sapphire Reserve card. With its $300 annual travel credit and Priority Pass lounge access, the card offers tremendous value for road warriors. Additionally, the Reserve card earns extra points on all travel spending and allows points to be transferred to airline and hotel partners, maximizing their value.
Conclusion
In conclusion, the Chase Sapphire Preferred and Reserve cards are both excellent options for travelers. The Preferred card is ideal for occasional travelers, while the Reserve card is perfect for frequent travelers seeking luxury perks and maximizing rewards. Consider your travel habits, spending patterns, and desired benefits to make an informed decision. Whichever card you choose, you’ll embark on a rewarding journey with the Personal Finances Blog.