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Ever since chase released the sapphire reserve credit card, to assist their customers after a successful venture of its more affordable congener, the chase sapphire preferred card; frequent travellers are spoilt for options to choose from.
Unfortunately, Chase observes a strict one card policy, meaning that Chase doesn’t allow you to be the primary account holder on both the Sapphire Preferred and Reserve cards. So if you already have one Sapphire card, you can’t apply for the other.
In this case, it becomes even more crucial for you to fully understand what you are up for: the sapphire reserve card with a hefty annual fees tag and offers premium benefits for frequent travellers might be the better option or the sapphire preferred credit card, which offers an affordable annual fees option and a better sign-up bonus.
Let’s dive into the unique benefits that both the cards have to offer to find out what works best for you:
Chase Sapphire Reserve Card
- Top-Notch Travel Benefits:
This luxury card offers $300 as a travel credit every year to its customers along with a priority pass select membership, that offers access to airport lounges across the world.
Some exclusive benefits for the year 2020-2021 include a $60 credit to use on DoorDash, and a one-year free Lyft Pink membership that offers an incredible 15% discount on all rides, and free scooter and bike rentals each month.
- Higher Earning Rates:
The Chase sapphire reserved card has a better earning rate, and for a good reason. If on average, you spend $50 on Lyft and $1000 on traveling and dining each month, you could accumulate 42,000 points on your spending as compared to a meager 27,000 points on the preferred card.
- A Better Redemption Rate:
Along with a better earning rate, the reserve card also features a much better value for your points when you redeem them. Reserve customers can redeem each point at 1.5 cents as compared to 1.25 cents for the preferred card. This exclusive offer now covers up spending for groceries, dining, and home improvement purchases as well.
Chase Sapphire Preferred Card
- A Lower Annual Fee Charge:
This comes up as one of the most obvious perks offered by the Chase Sapphire Reserved card. The annual fees are just a mere $95 per year compared to a hefty $550 for the reserve card. If you don’t travel frequently, it might just be a better option for you.
- An Elevated Sign-up Bonus:
The Chase Sapphire preferred card offers unbelievable 60,000 points after spending $4000 in the first 3 months. This accounts for almost $1200 compared to the 50,000 points offered by the reserve card.
- Ultimate Access to Premium Brands:
When it comes to the transfer benefits, the preferred offers equal access to its users for transferring their reward points to the top-notch airline hotel partners listed in the program.
- Easier to get Approved for:
Both Chase cards are premium high-tier cards, but you can find yourself getting approved much easier for the preferred card than the reserve card even if your credit score is at the lower end of the optimal range.
You can’t go wrong with any of these cards. But it’s important to weigh down the benefits you get for the price tag that comes along. This depends according to your individual preferences.