The Chase Sapphire Preferred and Chase Sapphire Reserve are two of the most popular travel credit cards in the country. Choosing between them comes down to how much you spend on travel and dining and whether you can justify a higher annual fee. Here’s a side-by-side comparison for 2026.
At a Glance
- Sapphire Preferred annual fee: $95 | Sapphire Reserve annual fee: $550
- Sign-up bonus: 60,000 points (both)
- Travel credit: None (Preferred) | $300/year (Reserve)
- Travel rewards: 2x points (Preferred) | 3x points (Reserve)
- Dining rewards: 3x points (both)
- Point value on travel portal: 1.25 cents (Preferred) | 1.5 cents (Reserve)
- Airport lounge access: No (Preferred) | Yes, Priority Pass (Reserve)
Annual Fee: The Real Cost After Credits
The Reserve’s $550 annual fee sounds steep, but the $300 annual travel credit — automatically applied to almost any travel purchase — effectively reduces it to $250. Still, that’s a $155 premium over the Preferred’s $95 fee. You need to get value from the additional benefits to justify the difference.
Sign-Up Bonus: Tied at 60,000 Points
Both cards offer 60,000 Ultimate Rewards points after meeting a minimum spending requirement in the first three months. At the Preferred’s 1.25 cent redemption rate, that’s $750 in travel value. At the Reserve’s 1.5 cent rate, it’s $900.
Earning Rates: Where Each Card Wins
The Sapphire Preferred earns 3x on dining, 3x on select streaming, 3x on online groceries, and 2x on travel. The Sapphire Reserve earns 3x on dining, 3x on travel (after the $300 credit is used), and 10x on Chase Travel portal bookings. The Reserve’s 3x on all travel (vs. 2x on the Preferred) is the biggest structural advantage for frequent travelers.
Travel Credits and Perks (Reserve Only)
- $300 annual travel credit — applied automatically to travel purchases
- Priority Pass Select membership: access to 1,300+ airport lounges worldwide
- $100 Global Entry or TSA PreCheck application fee credit every four years
- DoorDash DashPass membership
- Lyft Pink membership
Travel Insurance Comparison
Both cards offer trip cancellation/interruption coverage ($10,000 per person), primary car rental insurance, and lost luggage reimbursement ($3,000 per passenger). The Reserve adds emergency medical and evacuation coverage up to $100,000.
Who Should Get the Sapphire Preferred?
- You travel a few times per year but aren’t a frequent flyer
- You want strong travel and dining rewards without a high annual fee
- You spend more on groceries and streaming than on flights and hotels
- You’re newer to travel credit cards and want a lower-commitment entry point
Who Should Get the Sapphire Reserve?
- You travel frequently and will use the $300 travel credit every year
- You fly through major airports and will use lounge access regularly (worth $25 to $40 per visit)
- You spend $5,000+ per year on travel and want to maximize earning rate
- You value premium travel insurance and Global Entry/TSA PreCheck credits
The Break-Even Math
After subtracting the $300 travel credit, the Reserve’s net fee is $250. The Preferred’s is $95. The gap is $155. The Reserve earns 1 extra point per dollar on travel purchases. At 1.5 cents per point, you’d need to spend about $10,333 on travel annually for the extra points alone to cover the fee difference — not counting lounge access or TSA PreCheck credits.
Bottom Line
The Sapphire Preferred is the better choice for most people — exceptional value at $95 per year with strong rewards on everyday categories. The Reserve makes sense if you’re a frequent traveler who will use the lounge access and travel credit every year. Both cards are top-tier options in the travel rewards space.