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Chase Sapphire Reserve® vs Chase Sapphire Preferred® Card: Should You Upgrade?

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author's alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication. This site may be compensated through a credit card partnership.

The recently released Chase Sapphire Reserve® has caused many to question its value and comparison to the Chase Sapphire Preferred® Card. Though it's considerably more expensive, the Chase Sapphire Reserve® packs a ton of value to justify its price tag. However, that doesn’t mean the Chase Sapphire Preferred® Card is obsolete. Each of these cards will continue to have an audience. Which card is better will change from person to person and will be impacted by factors like spending and budget.

Comparing the Chase Sapphire Reserve® vs Chase Sapphire Preferred® Card

The following table summarizes the most important benefits and features of both cards.

Chase Sapphire Reserve®Chase Sapphire Preferred® Card
Chase Sapphire Reserve®
Chase Sapphire Preferred® Card
Best if…You're a high spenderYou'd prefer a lower annual fee and have lower spending habits
Annual Fee$450$95
APR19.24% - 26.24% Variable18.24% - 25.24% Variable
Earnings Rate3 points per $1 spent on restaurants and all travel; 1 point on everything else (3 points on travel after you earn the $300 travel credit)2 points per $1 spent on restaurants and all travel; 1 point on everything else
Estimated Point Value$0.0150$0.0125
Bonus50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
Estimated Bonus Value$750$750
Other Benefits$300 annual travel credit; Priority Pass Select Membership, TSA Pre/Global Entry fee reimbursement-
Can you transfer points to Ultimate Rewards partners?YesYes
FX FeeNoneNone
NetworkVisa InfiniteVisa Signature
ReviewChase Sapphire Reserve Credit CardChase Sapphire Preferred

The Chase Sapphire Reserve® comes with virtually all the benefits you’d get on the Chase Sapphire Preferred® Card. Both belong to the Ultimate Rewards program, and allow you to transfer your points to any of the participating loyalty programs — British Airways Executive Club, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards®, United MileagePlus®, Virgin Atlantic Flying Club, Hyatt Gold Passport®, Marriott Rewards®, IHG® Rewards Club and Ritz Carlton Rewards®.

What about Alternatives to the Chase Sapphire Reserve® and Chase Sapphire Preferred® Card?

Remember that, when it comes to credit cards, you are never limited to just two options. If you’re questioning the value the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve® have for you, it’s worth taking the time to explore other cards. We outlined two popular options which provide similar offers to the two Chase cards discussed above.

Premier Rewards Gold Card from American Express

Premier Rewards Gold Card from American Express
This card is not available through ValuePenguin.
Premier Rewards Gold Card from American Express
This card is not available through ValuePenguin.

The Premier Rewards Gold Card from American Express can be viewed as an upgraded version of the Chase Sapphire Preferred® Card. The card charges a higher annual fee — $0 for the first year, then $195. In return, it gives a $100 annual airline fee credit, and a better rewards rate on airline ticket purchases. Cardholders get 3x points for airfare purchased directly from airlines, 2x points at US restaurants, US gas stations and US supermarkets, and 1x points on other eligible purchases. All-around, the Premier Rewards Gold Card from American Express isn’t as good as the Chase Sapphire Reserve®. However, because it has a substantially lower annual fee, some consumers may feel better about applying for it.

The information related to the Premier Rewards Gold Card from American Express has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

The Platinum Card® from American Express

The Platinum Card® from American Express lies entirely on the other side of the credit card spectrum. This card doesn’t prioritize earning points and rewards, unlike all the other offers discussed in this article. Instead, paying the $550 annual fee unlocks a suite of luxury benefits (See Rates & Fees). Users get access to airport lounges through Priority Pass Select, just like with the Chase Sapphire Reserve®. Additionally, The Platinum Card® from American Express throws in access to Centurion Lounges. These are located in eight major U.S. airports and are of a higher quality than most other lounges. Cardholders also receive special promotions and perks. That includes things like complimentary gold status with Hilton and Starwood hotels, free Boingo Wifi hotspots, and the Platinum Dining® Program. A few months ago, cardmembers were also given a chance to purchase tickets to the sold-out Broadway musical Hamilton. Benefits like that aren’t easily translated to a monetary value. However, some consumers looking for luxury may find these types of benefits well-worth the $550 annual fee. While the Chase Sapphire Reserve® does include some premium perks, it still doesn’t fully match The Platinum Card® from American Express. You can see a more in-depth comparison between the Chase Sapphire Reserve® and The Platinum Card® from American Express here.

For rates and fees of The Platinum Card® from American Express, please click here.

Terms apply to American Express credit card offers. See americanexpress.com for more information.

Comments and Questions

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Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).