[{"@context":"https:\/\/schema.org\/","@type":"Article","@id":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/credit-cards\/chase-sapphire-reserve-vs-chase-sapphire-preferred\/#Article","mainEntityOfPage":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/credit-cards\/chase-sapphire-reserve-vs-chase-sapphire-preferred\/","headline":"Chase Sapphire Reserve vs. Chase Sapphire Preferred – Which Is Best For You?","name":"Chase Sapphire Reserve vs. Chase Sapphire Preferred – Which Is Best For You?","description":"In this post we\u2019ll compare Chase\u2019s two travel cards: the Sapphire Preferred and the...","datePublished":"2021-12-02","dateModified":"2024-12-27","author":{"@type":"Person","@id":"https:\/\/moneydoneright.com\/author\/logan-allec\/#Person","name":"Logan Allec, CPA","url":"https:\/\/moneydoneright.com\/author\/logan-allec\/","identifier":4,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Money Done Right","logo":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","width":488,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/chase-sapphire-reserve-vs-chase-sapphire-preferred-1.jpg","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/chase-sapphire-reserve-vs-chase-sapphire-preferred-1.jpg","height":460,"width":1900},"url":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/credit-cards\/chase-sapphire-reserve-vs-chase-sapphire-preferred\/","video":{"@context":"http:\/\/schema.org\/","@type":"VideoObject","@id":"https:\/\/www.youtube.com\/watch?v=M3Vt8XVFV6Y#VideoObject","contentUrl":"https:\/\/www.youtube.com\/watch?v=M3Vt8XVFV6Y","name":"Chase Sapphire Reserve vs. Preferred: It's Not an Easy Choice in 2021!","description":"In this video, I compare the Chase Sapphire Reserve vs. the Chase Sapphire Preferred.  These are two popular Chase credit cards that I've done separate reviews for here on the channel (links to my separate reviews are below).  Click SHOW MORE to see my card links! \ud83d\udc47\n\u27a1\ufe0f My Chase Sapphire Reserve Link: http:\/\/go.moneydoneright.com\/Chase-Sapphire-Reserve\/\n\u27a1\ufe0f My Chase Sapphire Preferred: http:\/\/go.moneydoneright.com\/Chase-Sapphire-Preferred\/\n\nDISCLAIMER: The information in this video is accurate as of the publishing date.  Chase will be releasing updates to both the Chase Sapphire Reserve and the Chase Sapphire Preferred on August 16, 2021.  I will be releasing an update video after these changes are released.\n\nMy Other Credit Card Review Videos:\n\u27a1\ufe0f Chase Sapphire Preferred Review: https:\/\/youtu.be\/9g8EN28X19Y\n\u27a1\ufe0f Chase Sapphire Reserve Review: https:\/\/youtu.be\/930pdAOUHfc\n\u27a1\ufe0f Chase Freedom Flex Review: https:\/\/youtu.be\/x6q25OIzpzA\n\u27a1\ufe0f Chase Freedom Unlimited Review: https:\/\/youtu.be\/6o2iHw1IKYY\n\u27a1\ufe0f Chase Freedom Flex vs. Freedom Unlimited: https:\/\/youtu.be\/ihxHTBgRtxs\n\u27a1\ufe0f Citi Double Cash Review: https:\/\/youtu.be\/nSi1kdU5o3I\n\u27a1\ufe0f Citi Custom Cash Review: https:\/\/youtu.be\/zEdIXVfeqps\n\nOther Credit Cards:\n\u27a1\ufe0f Best Travel Credit Cards: http:\/\/go.moneydoneright.com\/travel-credit-cards\n\u27a1\ufe0f Best Cash Back Credit Cards: http:\/\/go.moneydoneright.com\/cash-back-credit-cards\n\u27a1\ufe0f Best Gas Credit Cards: http:\/\/go.moneydoneright.com\/gas-credit-cards\n\u27a1\ufe0f Best Airline Credit Cards: http:\/\/go.moneydoneright.com\/airline-credit-cards\n\u27a1\ufe0f Best Hotel Credit Cards: http:\/\/go.moneydoneright.com\/hotel-credit-cards\n\u27a1\ufe0f Best 0% APR Credit Cards: http:\/\/go.moneydoneright.com\/zero-percent-apr-credit-cards\n\u27a1\ufe0f Best Balance Transfer Credit Cards: http:\/\/go.moneydoneright.com\/balance-transfer-credit-cards\n\u27a1\ufe0f Best Small Business Credit Cards: http:\/\/go.moneydoneright.com\/small-business-credit-cards\n\u27a1\ufe0f Best No Annual Fee Credit Cards: http:\/\/go.moneydoneright.com\/no-annual-fee-credit-cards\n\u27a1\ufe0f Best No Foreign Transaction Fee Credit Cards: http:\/\/go.moneydoneright.com\/no-foreign-transaction-fee-credit-cards\n\u27a1\ufe0f Best Secured Credit Cards: http:\/\/go.moneydoneright.com\/secured-credit-cards\n\u27a1\ufe0f Best Prepaid Credit Cards: http:\/\/go.moneydoneright.com\/prepaid-credit-cards\n\u27a1\ufe0f Best Student Credit Cards: http:\/\/go.moneydoneright.com\/student-credit-cards\n\nTable of Contents:\n0:00 Chase Sapphire Preferred vs. Chase Sapphire Reserve\n1:40 Chase 5\/24 Rule\n2:22 Chase Sapphire Preferred Spending Rewards\n2:47 Chase Sapphire Reserve Spending Rewards\n2:59 What Counts as Travel and Dining?\n3:47 Fees Comparison\n4:16 Chas Sapphire Reserve $300 Annual Travel Credit\n4:44 Signup Bonus Comparison\n6:11 How Much Are Chase Ultimate Rewards Points Worth?\n8:26 Transferring Chase Ultimate Rewards Points\n10:39 Perks Comparison\n12:08 Chase Sapphire Reserve Lounge Access\n12:25 Chase Sapphire Reserve Hotel Benefits\n12:55 Insurance and Purchase Protection Comparison\n13:30 Trip Cancellation or Interruption\n13:45 Roadside Assistance\n14:35 Accident Protection\n15:30 Collision and Damage Waiver\n16:45 Baggage Delays\n17:30 Luggage Protection\n18:10 Travel and Emergency Assistance Services\n20:20 Extended Warranties\n21:10 Purchase Protection\n22:00 Chase Sapphire Reserve Return Protection\n22:50 Chase Sapphire Reserve Advantages\n24:10 Chase Sapphire Preferred Advantages\n25:17 Which Is Better For You?\n26:32 Chase Sapphire Preferred vs. Reserve Breakeven Point\n\nAdvertiser Disclosure:\nThis video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities.\n\n#creditcard #creditcards #chasesapphire","thumbnailUrl":["https:\/\/i.ytimg.com\/vi\/M3Vt8XVFV6Y\/default.jpg","https:\/\/i.ytimg.com\/vi\/M3Vt8XVFV6Y\/mqdefault.jpg","https:\/\/i.ytimg.com\/vi\/M3Vt8XVFV6Y\/hqdefault.jpg","https:\/\/i.ytimg.com\/vi\/M3Vt8XVFV6Y\/sddefault.jpg","https:\/\/i.ytimg.com\/vi\/M3Vt8XVFV6Y\/maxresdefault.jpg"],"uploadDate":"2021-08-16T03:40:39+00:00","duration":"PT32M40S","embedUrl":"https:\/\/www.youtube.com\/embed\/M3Vt8XVFV6Y","publisher":{"@type":"Organization","@id":"https:\/\/www.youtube.com\/channel\/UCQ9WUXlSuLlbi5BLkgtEUEA#Organization","url":"https:\/\/www.youtube.com\/channel\/UCQ9WUXlSuLlbi5BLkgtEUEA","name":"Logan Allec","description":"Logan Allec is a CPA and the founder of Choice Tax Relief, which specializes in helping people with their IRS and state tax debt.","logo":{"url":"https:\/\/yt3.ggpht.com\/43_VKqrbO06RGMcxfdQbDXosrkVRq1yf5QgSQEiR4ILUGWV9fJtTh0o2ftYMYqVo6PwnEOPRdg=s800-c-k-c0x00ffffff-no-rj","width":800,"height":800,"@type":"ImageObject","@id":"https:\/\/www.youtube.com\/watch?v=M3Vt8XVFV6Y#VideoObject_publisher_logo_ImageObject"}},"potentialAction":{"@type":"SeekToAction","@id":"https:\/\/www.youtube.com\/watch?v=M3Vt8XVFV6Y#VideoObject_potentialAction","target":"https:\/\/www.youtube.com\/watch?v=M3Vt8XVFV6Y&t={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"},"interactionStatistic":[[{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=M3Vt8XVFV6Y#VideoObject_interactionStatistic_WatchAction","interactionType":{"@type":"WatchAction"},"userInteractionCount":1548}],{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=M3Vt8XVFV6Y#VideoObject_interactionStatistic_LikeAction","interactionType":{"@type":"LikeAction"},"userInteractionCount":81}]},"about":["Credit Cards"],"wordCount":4695,"keywords":["schema"],"articleBody":"In this post we\u2019ll compare Chase\u2019s two travel cards: the Sapphire Preferred and the Sapphire Reserve.In this comparison, I\u2019ll contrast the various features of each of the cards, go through the various advantages of each, and discuss which card would be the better fit for various people.If you’d prefer, you can see nearly all of the same information in my video review.Table of ContentsToggleChase Sapphire Preferred vs. Chase Sapphire Reserve Sign-Up BonusSign-Up Bonuses for Each CardRewards and Points ComparisonTravel and DiningTransferring PointsFees ComparisonChase Sapphire PerksTravel Protection FeaturesPurchase Protection FeaturesOther Purchase ProtectionReturn ProtectionWhy Choose the Chase Sapphire Preferred Credit Card?Why Choose the Chase Sapphire Reserve Credit Card?Types of People Who I\u2019d Tell to Choose The PreferredTypes of People I\u2019d Tell to Choose the ReserveThe Final Analysis: Preferred vs. ReserveFrequently Asked QuestionsChase Sapphire Preferred vs. Chase Sapphire Reserve Sign-Up BonusI previously reviewed both of these cards, so if you\u2019re interested in more details on one or the other, you can check out my full reviews of the Chase Sapphire Preferred and of the Chase Sapphire Reserve.Today, though, I\u2019m comparing the cards to help you decide which is the better fit for you based on your spending and travel habits.Sign-Up Bonuses for Each Card.simple_table-45778 table tr th{\ttext-align: center;\t\t}.simple_table-45778 table tr td{\ttext-align: center;\t\t}Chase Sapphire PreferredChase Sapphire ReserveIntroductory Offer60,000 bonus points when you spend at least $4,000 in the first three months60,000 bonus points when you spend at least $4,000 in the first three monthsRedemption Bonus For Points Redeemed Through Pay Yourself Back or For Travel Booked Through Chase Ultimate Rewards25%50%Value of Introductory Offer (No Redemption Bonus)$600$600Value of Introductory Offer (With Redemption Bonus)$750$900Both cards offer signup bonuses if you spend $4,000 on the card within three months of getting it.Sign-Up Bonus for Preferred\t\t.st2-45775.btn.btn-default:hover{border-color: #4db848;color: #4db848;background: #fff !important;}\t\t\t\tRead Review\t\t\tWelcome Offer80,000 PointsMust spend at least $4,000 in first 3 monthsAnnual Fee$95Redemption Bonus25%\t\tCurrently, the Sapphire Preferred is offering its highest ever welcome offer of 60,000 points if you spend at least $4,000 on your card within three months of opening it.Sign-Up Bonus for Reserve\t\t.st2-45776.btn.btn-default:hover{border-color: #4db848;color: #4db848;background: #fff !important;}\t\t\t\tRead Review\t\t\tWelcome Offer60,000 PointsMust spend at least $4,000 in first 3 monthsAnnual Fee$550Redemption Bonus50%\t\tThe Reserve\u2019s bonus is the same as the Preferred, offering 60,000 bonus points if you spend the same $4,000 within three months.Reserve vs. Preferred Sign-Up BonusesAlthough the sign-up bonuses are the same, the Reserve’s bonus is superior if you take into account its higher redemption bonus.That being said, you shouldn\u2019t apply for cards based on the welcome bonus alone; it\u2019s important to consider every feature of the card.In this case, the Reserve comes with numerous other perks you should be aware of.Further, if you\u2019ve received a welcome bonus from a Sapphire card in the last 48 months, you won\u2019t be eligible for either bonus.If that\u2019s the case, I would recommend waiting for those 48 months to expire before you open the other card.There are several exceptions to this, but in my opinion, the amount you can get from the introductory offers is generally worth the wait.WarningBoth of these cards are subject to the Chase 5\/24 rule, so you won\u2019t be approved for either if you\u2019ve already opened five or more cards in the last 24 months.Bear in mind that most credit card applications, approved or unapproved, will affect your credit score slightly, so you should determine whether you\u2019re going to run into the 5\/24 rule before you apply.Rewards and Points Comparison.simple_table-45779 table tr th{\ttext-align: center;\t\t}.simple_table-45779 table tr td{\ttext-align: center;\t\t}Chase Sapphire PreferredChase Sapphire ReservePoints Earned per Dollar On Travel Purchases Booked Through Chase Ultimate Rewards5 Points10 Points (hotels and car rentals); 5 points (air travel)Points Earned per Dollar for Other Travel Purchases2 Points3 PointsPoints Earned per Dollar for Dining Purchases Booked Through Chase Ultimate Rewards3 Points10 PointsPoints Earned per Dollar for Other Dining Purchases3 Points3 PointsPercentage Back on Spending in Bonus Categories (No Redemption Bonus)2%3%Percentage Back on Spending in Bonus Categories (With Redemption Bonus)2.5%4.5%Points Earned per Dollar Spent in Non-Bonus Categories1 Point1 PointPercentage Back on Spending in Non-Bonus Categories (No Redemption Bonus)1%1%Percentage Back on Spending in Non-Bonus Categories (With Redemption Bonus)1.25%1.5%Travel and DiningThe dining category includes dine-in, takeout, and delivery services, and, according to Chase, the travel category includes:AirlinesHotelsMotelsTimesharesCar rental agenciesCruise linesTravel agenciesDiscount travel sitesCampgroundsPassenger trainsBusesTaxisLimousinesFerriesToll bridges and highwaysParking lots and garagesThus, both of these categories are quite broad, with the travel category even extending to rideshare services such as Uber and Lyft.You earn more points when you book through Chase Ultimate Rewards, the Chase travel, dining, and shopping platform.Earning Points With the PreferredWith the Preferred, you earn 5 points for every dollar spent in the travel category, if you book through Chase Ultimate Rewards.If you book travel through another platform or site, you earn 2 points per dollar spent.Dining purchases with the Preferred card earn you 3 points per dollar spent, whether booked through Chase Ultimate Rewards or not.Points spent on other categories earn you 1 point.You get 2.5% back on spending in bonus categories with a redemption bonus, and 2% back on spending in bonus categories without a redemption bonus (I\u2019ll explain what that is below).Percentage back on spending on non-bonus categories is 1.25% with a redemption bonus, and 1% without.Earning Points With the ReserveWith the Reserve, you earn a whopping 10 points for every dollar spent on hotels, car rentals, and dining \u2014 when booked through Chase Ultimate Rewards.Air travel purchases booked through Chase Ultimate Rewards earn you 5 points for each dollar spent.If you book travel through another platform or site, you earn 2 points per dollar spent.Other travel or dining purchases with the Preferred card, booked outside of Chase Ultimate Rewards, earn you 3 points per dollar spent.Points spent on other categories earn you 1 point.You get 4.5% back on spending in bonus categories with a redemption bonus, and 3% back on spending in bonus categories without a redemption bonus (I\u2019ll explain what that is below).Percentage back on spending on non-bonus categories is 1.5% with a redemption bonus, and 1% without.How to Redeem Chase Ultimate Rewards PointsChase credit card points are known as Chase Ultimate Rewards points, and the value of each point varies depending on what you choose to redeem it for.When redeemed for cash, points are worth one cent each, but when redeemed for travel through Chase Ultimate Rewards or for statement credit through the Chase Pay Yourself Back program, they can be worth even more.The relatively new Pay Yourself Back program allows you to retroactively apply your points to purchases in various categories up to 90 days after purchasing.Currently, these categories are dining, grocery stores, home improvement stores, and select charities.If you redeem your points through either Chase Ultimate Rewards or Chase Pay Yourself Back, the Sapphire Preferred offers a value of 1.25 cents per point, equal to a 25% redemption bonus.For example, I have a purchase for $26.43, equal to the value of 2,643 points redeemed for cash, but through the Pay Yourself Back program, I only need 2,114 points to get a statement credit for this purchase.On the other hand, the Reserve offers the same opportunities for extra rewards, but they come at a 50% bonus instead of a 25% bonus.Thus, when you redeem the introductory offers for cash, you\u2019ll get one cent per point, for a total of $600 for the both cards.However, if you redeem these points the \u201csmart\u201d way, you\u2019ll get a larger amount per point, for a total of $900 for the Reserve and $750 for the Preferred.Transferring PointsBecause both cards allow you to transfer your points to other airline and hotel rewards platforms at a one-to-one value, you can get even more value for your points if you transfer them to a platform that\u2019s offering a better value.Currently, the supported partners are:Aer Lingus AerClubBritish Airways Executive ClubEmirates SkywardsFlying Blue Air France KLMIberia PlusJetBlue True BlueSingapore Airlines KrisFlyerSouthwest Airlines Rapid RewardsUnited MileagePlusVirgin Atlantic Flying ClubIHG Rewards ClubMarriott BonvoyWorld of HyattWhen transferring, you miss out on the bonus for redeeming through Chase Ultimate Rewards or the Chase Pay Yourself Back program.However, you can compensate for this by taking advantage of deals available with the program you transfer your points to; if one platform has really good redemption options for their own points, you may be better off transferring your Chase points to them.This involves careful consideration \u2014 you have to look at the cash price of the hotel stay or flight and then divide that by the number of Chase Ultimate Rewards points you\u2019d need to transfer to purchase it.By doing this, you can find the value you\u2019d get per point, which you can then compare to the value you\u2019d get if you redeemed your points through Chase Ultimate Rewards.If the value is greater, it\u2019s probably a good transfer, but if it\u2019s not, you\u2019re probably better off redeeming your points within Chase itself.As I\u2019ll discuss later, you can also transfer points from one of your other Chase cards to your Sapphire card.Fees Comparison.simple_table-45781 table tr th{\ttext-align: center;\t\t}.simple_table-45781 table tr td{\ttext-align: center;\t\t}Chase Sapphire PreferredChase Sapphire ReserveAnnual Fee$95$550Authorized User FeeNone$75 per user per yearForeign Transaction FeeNoneNoneAnnual FeesThe Chase Preferred has a $95 annual fee, but no fees for additional authorized users or for foreign transactions. There is no annual travel credit.The Chase Reserve has a $550 annual fee, which is slightly offset by the $300 travel bonus. Additional users are $300 per person. There is no foreign transaction fee.Foreign Transaction FeeNeither card comes with a foreign transaction fee, so you can use them around the world at no extra cost.Authorized Users FeeWith the Sapphire Preferred, you can add authorized users for no extra cost, but with the Sapphire Reserve, each authorized user costs an additional $75.Chase Sapphire Perks.simple_table-45782 table tr th{\ttext-align: center;\t\t}.simple_table-45782 table tr td{\ttext-align: center;\t\t}Chase Sapphire PreferredChase Sapphire ReserveAnnual Travel Credit$50 annual hotel credit (if booked through Chase Ultimate Rewards)$300Anniversary Point Bonus10%NonePeloton Statement CreditUp to $60 through the end of 2021Up to $120 through the end of 2021DoorDash DashPass Membership ($0 Delivery Fee and Reduced Service Fees on Orders Over $12)Free subscription for one year when you activate by the end of 2021 (usually $9.99 per month)Free subscription for one year when you activate by the end of 2021 (usually $9.99 per month)DoorDash Statement CreditNoneUp to $60 through the end of 2021Lyft Pink MembershipNoneFree subscription for one year when you activate by the end of 2021 (usually $19.99 per month or $199.99 per year)Bonus Points on Lyft Rides5x points through the end of March 2022 (3x in addition to the 2x points already earned on travel purchases)10x points through the end of March 2022 (7x in addition to the 3x points already earned on travel purchases)Lounge AccessNoneAccess to over 1,000 lounges worldwide through Priority PassGlobal Entry or TSA Pre\u2713 Fee CreditNoneStatement credit of up to $100 every four years as reimbursement for application feesHotel BenefitsNoneVariety of benefits at hotels that are part of the Luxury Hotel & Resorts CollectionOne perk of particular note is the $300 annual travel credit granted to Sapphire Reserve cardholders. This credit somewhat offsets the considerable $550 annual fee. Both cards come with several other perks that have a decent amount of value.Chase offers statement credits for money spent on Peloton, an online workout service that sells equipment and offers online classes.If you have a Sapphire Preferred, Chase will cover the first $60 of your membership fee through the end of 2021, while if you have a Sapphire Reserve, Chase will cover the first $120.Both cards also offer a full year of free DashPass, the premium DoorDash membership, as long as you activate the offer by the end of 2021.While both cards offer the membership, the Sapphire Reserve will also cover the first $60 you spend on DoorDash through the end of 2021.Finally, both cards offer considerable rewards back on money spent on Lyft rides through the end of April 2022.Again, Reserve cardholders get slightly more here, with 10 points back per dollar (as opposed to the Preferred\u2019s five) and a complimentary year-long subscription to Lyft Pink as long as it\u2019s activated by the end of April 2022.Overall, the perks offered are similar, but the Reserve\u2019s benefits are significantly more valuable.First, the Reserve comes with access to over 1,000 airport lounges through the Priority Pass program. These are member-only areas in airports worldwide where you can get complimentary refreshments, WiFi, etc.The Reserve also offers complimentary room upgrades, complimentary meals, early check-in, late check-out, special discounts, extra amenities, etc., at participating hotels.Travel Protection FeaturesBoth Sapphire cards come with extra protection features that can be extremely helpful when something goes wrong.Unsurprisingly, the Reserve comes with more coverage, but the Preferred holds its own pretty well considering the difference in annual fee.Bear in mind that these policies only apply to purchases you put on your Sapphire card.Trip CancellationBoth cards offer protection for trip cancellation or interruption of up to $10,000 per person and $20,000 per trip.This protection covers prepaid and nonrefundable expenses if you\u2019re forced to cancel a trip because of illness, weather, etc.Roadside AssistanceBoth cards provide some form of roadside assistance.For Sapphire Preferred cardholders, this service still comes with a fee, but there\u2019s a set price that covers basic services like lockouts, tire changing, and towing.On the other hand, Reserve cardholders get up to $50 in coverage per service up to four times per year, although this is limited to once per week for the same cause.Even with this $50, though, you\u2019ll still probably end up paying some portion of the bill out of pocket, since I\u2019ve been charged much more than that just for a jumpstart.Accident CompensationBoth the Sapphire Preferred and the Sapphire Reserve offer compensation for any accident you experience while traveling.These policies are largely the same; both generally come with up to $100,000 in coverage for loss of life. However, if an accident occurs on some type of public or commercial transportation \u2014 excluding taxis and commuter trains \u2014 this coverage limit increases to $500,000 for Preferred cardholders and $1,000,000 for Reserve cardholders.I\u2019m not going to discuss all the details here, but generally, these amounts are for loss of life, with lesser amounts for various injuries.Collision Damage WaiverBoth cards provide a similar collision damage waiver for rental cars.The key difference here is in the details \u2014 the Sapphire Preferred doesn\u2019t come with a coverage limit, saying it will pay \u201cup to the actual cash value of most rented cars\u201d, but it specifically excludes some cars, particularly \u201chigh-value motor vehicles\u201d, exotic and antique cars, cargo vans, trucks, motorcycles, limousines, and passenger vans with ten or more seats.This means that the Sapphire Preferred doesn\u2019t come with coverage for cars from companies like Corvette, Ferrari, Rolls Royce, and Tesla, although it does cover \u201cselected models\u201d from brands like Audi, BMW, and Cadillac.On the other hand, the Sapphire Reserve has a stated limit of up to $75,000, but it has a shorter list of exclusions, with high-value cars removed from that list, meaning you can get coverage of up to $75,000 on luxury cars.I\u2019m not planning to rent a Ferrari anytime soon, so this doesn\u2019t really matter to me, but if you like to rent luxury cars, I wouldn\u2019t recommend relying on the Sapphire Preferred coverage.Baggage DelaysBoth Sapphire cards come with coverage for baggage delays of six or more hours, starting with coverage of $100 to be spent on essential items.This amount will increase by $100 each day for up to five days and can be spent with only a few exclusions, including prosthetics, hearing aids, artificial teeth, money, etc.Lost LuggageBoth cards also offer protection for lost, damaged, or stolen luggage of up to $3,000 in coverage per person per trip, with sub-limits of $500 for jewelry and watches and $500 for cameras and electronics.As always, there are some exceptions for money, tickets, checks, etc., but these policies, which are exactly the same for the two cards, should apply to most situations.Travel and Emergency AssistanceBoth the Sapphire Preferred and the Sapphire Reserve come with Travel and Emergency Assistance Services, meaning if something goes wrong while you\u2019re away from home, Chase will help you work it out.You\u2019ll still have to pay for the service you need, but Chase will ensure you find what you\u2019re looking for, whether it\u2019s a lawyer, translator, or even medicine.Emergency EvacuationThe Sapphire Reserve also comes with up to $100,000 in coverage for emergency evacuation, available as long as some portion of the trip was booked through the Sapphire Reserve.For this to apply, the evacuation needs to be pre-approved by a benefits administrator, but I can\u2019t imagine they\u2019ll give you too much of a hard time if you need an emergency medical evacuation.If you have the Reserve, Chase will also fly a friend or family member to your location if you\u2019re hospitalized for more than eight days and will pay up to $1,000 to bring your body back to your family if you die while traveling.These policies do come with some restrictions; your trip must be between five and 60 days long, you have to have put some portion of the trip on your Sapphire Reserve, you can\u2019t be in a country the US government recommends avoiding, and you can\u2019t be evacuated for mental healthcare, pregnancy, self-harm, substance abuse, etc.If you are eligible for coverage, though, you can be reimbursed up to $100,000 for evacuation-related expenses and up to $2,500 for emergency medical or dental expenses.The Emergency Evacuation benefit is not available to Preferred cardholders.Purchase Protection FeaturesThese features ensure that you can recoup your costs if something you bought with your Sapphire card is lost, stolen, defective \u2014 or even if you just want to return it.Extended WarrantiesBoth cards offer identical one-year extended warranty policies for most items except vehicles, medical equipment, etc.In other words, if you use your Sapphire card to purchase something, you\u2019ll get an extra year of coverage on top of the original manufacturer\u2019s warranty.This coverage has a maximum of $10,000 per claim and $50,000 total over the life of your account.If this policy is something you may need to use for a particular item, you should register your warranty immediately after purchasing through Chase\u2019s platform at www.cardbenefitservices.com to avoid the hassle of tracking down the original receipt and warranty documentation several years in the future.Other Purchase ProtectionChase also offers reimbursements for the theft, damage, loss, etc. of most items purchased on your Sapphire card.Both cards have a maximum of $50,000 in coverage over your account lifetime, but the Reserve allows a maximum of $10,000 per claim, while the Preferred limits individual claims to just $500.Thus, while you could theoretically get the same amount of coverage with both, you\u2019d have to file at least 100 successful claims to reach the lifetime limit with the Preferred, making the Reserve\u2019s purchase protection coverage significantly more robust.Return ProtectionThe Sapphire Reserve also offers return protection, meaning you can get refunds for purchases you made on the Reserve and want to return, regardless of the seller\u2019s return policies.This policy must be used within 90 days of purchase and is limited to $500 per item and $1,000 per year.To claim this refund, you have to let Chase know you don\u2019t want to keep your purchase and fill out some information.After Chase approves your claim, you can ship the item to them and then claim your full refund minus the cost of shipping.Your returns must be in good condition, and certain items aren\u2019t protected, but overall, this policy is one of the premium perks that distinguishes the Reserve from the Preferred.Why Choose the Chase Sapphire Preferred Credit Card?These are my top reasons for selecting the Preferred over the Reserve.The Preferred Has a Much Lower Annual FeeThe Preferred comes with a much lower fee than the Reserve.While there are situations where the Reserve is a better option, it\u2019s important to remember that the Preferred\u2019s annual fee is $455 less than the Reserve\u2019s.The Preferred Allows Additional Authorized Users for FreeIf you want your spouse or other family members to help build up points, they won\u2019t have to pay a fee to get the card.If you choose the Reserve, you pay a $300 fee for additional users.Why Choose the Chase Sapphire Reserve Credit Card?Here\u2019s why you might go with the Reserve.The Reserve Has Many Useful Benefits for Frequent TravelersThe Sapphire Reserve comes with many travel benefits that can be extremely useful if you\u2019re a frequent traveler.The Sapphire Preferred has some of the same policies, but the Reserve comes with extra bonuses like airport lounge access, lost luggage reimbursement, emergency evacuation coverage, and more robust rental car coverage.The Reserve also comes with a $300 annual travel credit, which offsets more than half the Reserve\u2019s annual fee if you spend at least $300 on travel per year.The Reserve Has Larger Reward PercentagesThe Sapphire Reserve also comes with slightly larger reward percentages than the Preferred, offering:10% percent back on some bonus categories rather than the 5% max of Preferred10% back on Lyft rides and subscriptions rather than 5%A 50% bonus on Pay Yourself Back and travel through Chase Ultimate Rewards as opposed to the Preferred\u2019s 25%.If you\u2019re a big spender, those extra points can add up extremely quickly, making the Reserve a better option for you.Types of People Who I\u2019d Tell to Choose The PreferredHere\u2019s who I think should pick the Preferred over the Reserve.People Who Don\u2019t Spend That Much, But Still Want Decent Travel RewardsIf you don\u2019t spend that much, especially on travel and dining, but still want a solid travel card, I would probably recommend the Sapphire Preferred to you.As I noted previously, the Reserve\u2019s rewards increase in value the more you spend, but it can be hard to justify the fee if you don\u2019t spend at least $8,425 a year on travel and dining.Thus, if you spend considerably less than that and don\u2019t care as much about the Reserve\u2019s secondary benefits, you\u2019re probably better off with the Sapphire Preferred.People Who Plan to Add More UsersI would also recommend the Sapphire Preferred to you if you\u2019re hoping to add several authorized users since, unlike the Reserve, it doesn\u2019t charge an annual fee for authorized users.Types of People I\u2019d Tell to Choose the ReserveHere\u2019s who I think should pick the Reserve over the Preferred.Big SpendersIf you\u2019re a big spender, I would recommend the Reserve to you since the more you spend in the bonus categories, the more you\u2019ll get out of the extra rewards.The Reserve offers three percent back on travel and dining, while the Preferred offers two percent.If you redeem those rewards through Pay Yourself Back or Chase Ultimate Rewards, that jumps to 4.5% back with the Reserve and just 2.5% back with the Preferred, giving the Reserve a two percent advantage over the Preferred.Here\u2019s the formula I used to calculate the breakeven point in travel and dining spending, taking into account annual fees and travel credit and assuming all points are redeemed through the Pay Yourself Back program or for travel through Chase Ultimate Rewards.1.5% * [(x-300) * 3] + 300 – 500 = 1.25% * (2x) – 95In this equation, the 1.5% is the Reserve\u2019s redemption bonus, the $300 is the Reserve\u2019s travel credit, the three is the Reserve\u2019s three percent back on travel and dining, and the $550 is the Reserve\u2019s annual fee.On the other side of the equation, the 1.25% is the Preferred\u2019s redemption bonus, the two constant is the Preferred\u2019s two percent back on travel and dining, and the $95 is the Preferred\u2019s annual fee.Solving this equation yields a break-even point of $8,425, meaning if you spend more than $8,425 on travel and dining per year and would use the $300 annual travel credit, you\u2019d get more value from the Reserve, while if you spend less than $8,425, you\u2019d get more value from the Preferred.Note that this formula excludes both the Reserve\u2019s additional perks and the Preferred\u2019s better welcome offer, focusing only on long-term spending in the bonus categories.Especially Big Spenders Who Also Have Another Chase CardI would also recommend the Sapphire Reserve to you if you\u2019re a big spender and already have another Chase card like the Chase Freedom Unlimited.As I mentioned previously, you can transfer your Chase Ultimate Rewards points between cards.Even though the Freedom Unlimited is free, its cash-back rate of 1.5% on non-bonus spending is higher than the one percent offered by both Sapphire cards.Thus, if you have both a Sapphire card and a Freedom Unlimited, you can maximize your point value by putting your non-bonus spending on the Freedom Unlimited, transferring your Freedom Unlimited points to your Sapphire card, and then redeeming them for a bonus through the Pay Yourself Back program or Chase Ultimate Rewards.Because the Sapphire Reserve offers a higher bonus for redeeming your points for travel through Chase Ultimate Rewards and Pay Yourself Back, your Freedom Unlimited rewards on non-bonus spending equal 2.25% when paired with the Reserve, compared to just 1.875% with the Preferred.This may not sound like much, and if you\u2019re a small spender, it won\u2019t make a big difference.However, if you spend a lot on the non-bonus categories, this amount can add up.For example, if you use this strategy on $40,000 a year, you\u2019ll end up with $150 more on the Reserve than the Preferred, which, when paired with the Reserve\u2019s other bonuses, can be enough to justify the extra fee.The Final Analysis: Preferred vs. ReserveOverall, the Chase Sapphire Preferred and Chase Sapphire Reserve share many similarities, but the total value proposition varies depending on your spending habits and the manner in which you redeem your points.While a lot of people think the Reserve is the best premium travel card on the market, there\u2019s no one right choice; you do pay a lot for those features, so Chase is mostly targeting frequent travelers.Again, if you\u2019re interested in either one of these cards, you can use my link for the Reserve here and the Preferred here.Frequently Asked QuestionsHere are some quick answers to the most common questions about these cards..accordion-list .accordion-title:hover{color: #4db848;}Which is better, Chase Sapphire Preferred or Reserve?The Reserve has better benefits and cash back rewards, and is among the best premium travel cards on the market.You get what you pay for \u2014 the Reserve also has an annual fee that is $455 higher than the Premium.Is it worth upgrading from Preferred to Reserve?My analysis indicates that if you spend more than $8,425 on travel and dining per year and would use the $300 annual travel credit, you\u2019d get more value from the Reserve.If you plan to spend less than that, stick with Preferred.Is it worth getting Chase Sapphire Reserve?People who spend a lot of money on travel (and like luxury perks such as airport lounges) will get a lot of value from the Reserve.Is Chase Sapphire the same as Chase Sapphire Preferred?\u201cSapphire\u201d is the name of Chase\u2019s travel credit card program. There\u2019s no \u201cSapphire\u201d card, only the \u201cSapphire Preferred\u201d and the \u201cSapphire Reserved\u201d.Can you switch from Chase Sapphire Reserve to Preferred?Yes, you can downgrade from the Reserve to the Preferred. Call Chase customer service at the number on the back of your card, or reach them online.Does Chase Sapphire Preferred get you into airport lounges?No, the Preferred card does not grant access to any airport lounges.You\u2019ll need to upgrade to the Reserved, which offers access to up to 1,000 lounges worldwide through the Priority Pass Select program."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Passive Income","item":"https:\/\/moneydoneright.com\/passive-income\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Cash Back And Rewards","item":"https:\/\/moneydoneright.com\/passive-income\/\/cash-back-and-rewards\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"Credit Cards","item":"https:\/\/moneydoneright.com\/passive-income\/\/cash-back-and-rewards\/\/credit-cards\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"Chase Sapphire Reserve vs. Chase Sapphire Preferred – Which Is Best For You?","item":"https:\/\/moneydoneright.com\/passive-income\/cash-back-and-rewards\/credit-cards\/chase-sapphire-reserve-vs-chase-sapphire-preferred\/#breadcrumbitem"}]}]