Last Updated July 17, 2025

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The Chase Sapphire family underwent a major transformation in 2025, making the choice between the Chase Sapphire Reserve® and Chase Sapphire Preferred® more complex than ever. With the Reserve's annual fee jumping to $795 and a host of new benefits, while the Preferred maintains its accessible $95 fee, understanding which card fits your travel style has never been more important.

Bottom Line: The Chase Sapphire Preferred® now offers better value for most travelers, thanks to its lower annual fee and substantial welcome bonus. However, frequent luxury travelers who can maximize multiple statement credits may still find value in the premium Reserve.

Current Welcome Bonuses: A Clear Winner Emerges

The welcome bonus comparison reveals a surprising winner:

Chase Sapphire Reserve®:

• 100,000 bonus points + $500 Chase Travel℠ promo credit after spending $5,000 in the first 3 months
• Total value: $2,550 (using TPG's 2025 Chase point valuation of 2.05 cents)

Chase Sapphire Preferred®:

• 75,000 bonus points after spending $5,000 in the first 3 months
• Total value: $1,538

While the Reserve offers a higher bonus, the difference narrows significantly when you factor in the annual fee difference. The Reserve's net first-year value advantage shrinks to just $312 after accounting for fees.

Annual Fee Analysis: The $700 Question

This represents the most dramatic difference between these cards:

• Chase Sapphire Preferred®: $95 annual fee
• Chase Sapphire Reserve®: $795 annual fee

The $700 difference means Reserve cardholders need to extract significant value from additional benefits to justify the premium. For context, this makes the Reserve one of the most expensive consumer credit cards on the market.

Earning Rates: Where You'll Accumulate Points

Both cards excel in travel and dining categories, but with important distinctions:

Chase Sapphire Reserve® Earning Structure

• 8x points on Chase Travel℠ purchases
• 4x points on dining and direct airline/hotel purchases
• 1x points on all other purchases (including general travel like Airbnb, cruises, travel agencies)

Chase Sapphire Preferred® Earning Structure

• 5x points on Chase Travel℠ purchases
• 3x points on dining and online grocery purchases
• 2x points on general travel purchases
• 1x points on all other purchases

Key Insight: The Preferred actually wins for general travel purchases (Airbnb, cruises, travel agencies) at 2x versus the Reserve's 1x. This makes the Preferred more versatile for diverse travel booking habits.

The New Points Boost System: Understanding Your Redemption Value

Both cards now use Chase's Points Boost system, which replaced the Reserve's previous 1.5x redemption benefit:

• Up to 2x value on select rotating hotel and flight offers through Chase Travel
• 1x value (1 cent per point) for all other Chase Travel redemptions
• 1:1 transfer ratio to airline and hotel partners remains unchanged

For existing Reserve cardholders, points earned before October 26, 2025, can still redeem at either 1.5x or Points Boost rates through October 26, 2027.

Benefits Breakdown: Premium Perks vs. Practical Value

Chase Sapphire Reserve® Benefits

The Reserve's 2025 refresh introduced numerous statement credits and premium perks:

Travel Benefits:

• $300 annual travel credit
• Priority Pass Select lounge access
• Chase Sapphire Lounge access
• Up to $500 annual credit for The Edit by Chase Travel (luxury hotels)
• IHG One Rewards Platinum Elite status
• Complimentary TSA PreCheck/Global Entry credit ($120 value every 4 years)

Lifestyle Credits:

• Up to $300 annual StubHub and viagogo credit
• Up to $300 annual dining credit through Sapphire Reserve Exclusive Tables
• $250 annual value through Apple TV+ and Apple Music subscriptions
• Up to $300 annual DoorDash credits

Insurance and Protection:

• Primary rental car insurance
• Trip cancellation/interruption insurance
• Lost luggage insurance
• No foreign transaction fees

Chase Sapphire Preferred® Benefits

The Preferred focuses on essential travel benefits without overwhelming complexity:

Core Benefits:

• $50 annual hotel credit through Chase Travel
• 10% anniversary bonus points (equal to 10% of previous year's total purchases)
• Complimentary DashPass membership ($120 annual value)
• $10 monthly DoorDash credit for non-restaurant orders

Protection Benefits:

• Trip cancellation/interruption insurance
• Auto rental collision damage waiver
• Lost luggage insurance
• No foreign transaction fees

Transfer Partners:Both cards offer identical 1:1 transfer ratios to valuable partners including United, Southwest, British Airways, Hyatt, and Marriott.

Who Should Choose the Chase Sapphire Preferred®

The Preferred makes sense for:

• New travel rewards users seeking an accessible entry point
• Moderate spenders who won't maximize multiple statement credits
• Diverse travelers who book through various platforms (not just Chase Travel)
• Value-conscious travelers prioritizing low annual fees
• Simple rewards seekers who prefer straightforward earning without complexity

Real-world example: If you spend $2,000 monthly across all categories, the Preferred's 10% anniversary bonus alone provides 240 extra points annually, while the lower annual fee saves $700 compared to the Reserve.

Who Should Choose the Chase Sapphire Reserve®

The Reserve justifies its premium for:

• Frequent luxury travelers who regularly fly and stay in premium accommodations
• High spenders who can maximize multiple statement credits
• Lounge enthusiasts who value airport lounge access
• Apple ecosystem users who'll utilize Apple TV+ and Apple Music benefits
• Entertainment lovers who frequently purchase concert/event tickets
• Business travelers with generous expense accounts

Break-even analysis: To justify the $700 annual fee difference, you need to extract approximately $58 monthly in additional value from the Reserve's premium benefits.

Strategic Considerations for 2025

The New Dual-Card Possibility

Chase now allows holding both Sapphire cards simultaneously, opening strategic opportunities:

• Household splitting: One spouse carries the Reserve for premium benefits, the other the Preferred for everyday spending
• Category optimization: Use each card for its strongest earning categories
• Welcome bonus stacking: Potentially earn both sign-up bonuses (subject to Chase's eligibility rules)

Chase 5/24 Rule Impact

Remember that applying for either card counts toward Chase's 5/24 rule. If you're under 5/24, consider whether the second card provides enough ongoing value to justify using a valuable application slot.

Alternative Cards to Consider

If neither Sapphire card feels right, consider these alternatives:

• Capital One Venture X: $395 annual fee with $300 travel credit and solid earning rates
• American Express Platinum: $695 annual fee with extensive statement credits and premium benefits
• Chase Freedom Unlimited: No annual fee option that still earns Chase Ultimate Rewards points

Making Your Decision: A Practical Framework

Ask yourself these key questions:

1. Annual spending: Do you spend enough to justify a $795 annual fee?
2. Travel frequency: Will you use lounge access and travel credits regularly?
3. Statement credit usage: Can you realistically maximize the Reserve's various credits?
4. Simplicity preference: Do you want a straightforward rewards structure or don't mind managing multiple benefits?

Our Bottom-Line Recommendation

For most travelers in 2025, the Chase Sapphire Preferred® offers superior value. Its $95 annual fee is manageable, the earning structure is versatile, and the 10% anniversary bonus provides ongoing value without complexity.

The Chase Sapphire Reserve® makes financial sense only if you're a frequent luxury traveler who can consistently maximize its premium benefits. The $700 annual fee difference requires extracting significant value from lounge access, statement credits, and premium services.

Ready to apply? The Chase Sapphire Preferred® currently offers an excellent welcome bonus with a manageable annual fee, making it the smart choice for most travelers looking to enter the premium rewards space.

Both cards provide access to the valuable Chase Ultimate Rewards program, which consistently ranks as one of the most flexible points currencies available. Whichever card you choose, you'll be joining millions of travelers who've discovered the power of strategic points earning.

This article contains references to products from our advertising partners. We may receive compensation when you click on links to those products. For more details, visit our advertising policy page. Featured Image from Chase

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