Chase Sapphire Preferred vs. Reserve: the 75,000 Points Bonus Offer Guide
You can use your Chase Sapphire Preferred card to take you to Paris, France!
Last Updated: May 4, 2024Chase Sapphire Showdown: Preferred® vs Reserve® – Which Card Should You Choose?
As travel gears up for a buzzing summer season, Chase has upped the ante with enticing new sign-up bonuses for their flagship credit cards: the Chase Sapphire Preferred® and the Chase Sapphire Reserve®. If you're planning your next getaway or simply want to maximize your travel rewards, here's everything you need to know to decide which card is best for you.
Learn More About the Chase Sapphire Preferred®
Key Offer Details
Both the Chase Sapphire Preferred® and Chase Sapphire Reserve® cards are currently offering a lucrative sign-up bonus of 75,000 Ultimate Rewards points. To qualify, new cardholders must spend $4,000 on purchases within the first three months of account opening. These points can be worth up to $1,125 when redeemed for travel through Chase's booking portal, but their value can increase significantly when transferred to one of Chase’s airline or hotel partners.
Chase Sapphire Preferred® Card: Best for Value Seekers
The Chase Sapphire Preferred® is an excellent choice for those new to travel rewards or anyone who prefers a card with a lower annual fee. Here's why it might be right for you:
Annual Fee: Just $95.
Travel Credits: $50 annual credit on hotel bookings made through Chase Travel℠.
Rewards Rate: Earn 2x points on travel and dining.
Redemption Value: Points are worth 1.25 cents each when redeemed for travel through Chase.
The Preferred card offers exceptional value, especially considering the sign-up bonus alone is worth more than nine times the annual fee in travel credits.
Learn More About the Chase Sapphire Preferred®
Chase Sapphire Reserve®: Best for Frequent Travelers
For those who travel often and enjoy higher-tier benefits, the Chase Sapphire Reserve® might be the perfect fit:
Annual Fee: $550, which includes a wealth of premium perks.
Travel Credits: A $300 annual travel credit is automatically applied to travel purchases.
Rewards Rate: Earn 3x points on travel (immediately after earning your $300 travel credit) and dining worldwide.
Additional Perks: Complimentary airport lounge access through Priority Pass™, special rental car privileges, and more.
Redemption Value: Points are worth 1.5 cents each when redeemed for travel through Chase.
Despite its higher fee, the Reserve card offers a return that can significantly outweigh the cost if you take full advantage of the benefits.
Learn More About the Chase Sapphire Reserve®
Comparing the Benefits
Both cards offer:
No foreign transaction fees.
Extensive travel insurance options, including trip cancellation/interruption insurance and auto rental collision damage waiver.
Bonus points on dining and specific travel purchases.
However, the right card for you depends largely on how often you travel and which benefits you will use most.
Which Card to Choose?
Ultimately, the decision between the Chase Sapphire Preferred® and the Reserve® depends on your travel frequency and spending habits. If you travel occasionally, are just getting started with points & miles, and prefer minimal fees, the Preferred might be your best bet. But if you’re a frequent flyer who can utilize the full suite of luxury benefits, the Reserve could save you more in the long run.
Learn More About the Chase Sapphire Preferred®
5/24 Rule
The Chase 5/24 rule is a policy that applies to many of the bank's credit cards, including the Chase Sapphire Preferred. The rule states that you will not be approved for a new Chase credit card if you have opened five or more accounts within 24 months.
This means that if you have opened five or more credit card accounts within the past 24 months, you will not be able to get the Chase Sapphire Preferred, even if you have good credit and meet all other eligibility requirements.
It's essential to remember this rule when applying for any Chase credit card, as it can limit your options if you have opened multiple credit card accounts quickly. If you're not sure if you meet the 5/24 rule, check your credit report to see how many credit card accounts you have opened within the past 24 months.
Learn More About the Chase Sapphire Preferred®
Maximizing Value Through Chase Transfer Partners
One of the most lucrative features of the both of these Chase Sapphire cards is access to the Chase Ultimate Rewards program with the ability to transfer points to a variety of airline and hotel partners. This often yielding a value of 2.0 cents per point (CPP) or more. By strategically transferring your points to these partners, you can significantly enhance the value of your rewards beyond the standard redemption options through Chase's travel portal.
How to Achieve 2.0 CPP or More
Choose the Right Partners: Chase partners with several leading airlines and hotels, including United Airlines, Southwest Airlines, and Marriott Bonvoy. The key to maximizing value is selecting the right partner for your specific travel plans.
Book Business and First Class Flights: One of the best ways to maximize your points is by redeeming them for international business or first-class flights. These tickets can offer exceptional value per point compared to economy-class tickets.
Target Off-Peak Travel: Many airline partners offer lower redemption rates during off-peak periods. By booking during these times, you can stretch your points even further.
Utilize Hotel Luxury Redemptions: Similarly, transferring points to hotel partners like World of Hyatt can yield high value. For example, staying at a luxury property typically demanding high cash rates can be a fantastic use of points.
Example Redemptions
Here are a couple of example redemptions where points can exceed 2.0 CPP:
United Airlines: Transfer points to United MileagePlus for a business-class flight to Europe. Typically, such a ticket might cost thousands of dollars, but using points might achieve a value far exceeding the standard 1.5 CPP offered through Chase’s travel portal.
World of Hyatt: Transfer points to Hyatt for a stay at a high-end property like the Park Hyatt Maldives. Booking luxury hotels in expensive markets can provide a value of 2.0 CPP or more.
Conclusion
Chase’s current offer 75,000 bonus points on the Sapphire cards is one of the best in over a year, providing a fantastic opportunity for travelers to earn substantial travel rewards points. Whether you choose the Sapphire Preferred® or the Reserve®, taking advantage of this offer could help fund your next adventure.
Learn More About the Chase Sapphire Preferred® and Chase Sapphire Reserve®
Frequently Asked Questions About Chase Sapphire Preferred® and Reserve®
What is the sign-up bonus for the Chase Sapphire Preferred® and Reserve® cards?
For a limited time, new applicants can earn 75,000 Ultimate Rewards points after spending $4,000 on purchases in the first three months from account opening. These points are worth up to $1,125 when redeemed for travel through Chase's portal.
How do the Chase Sapphire Preferred® and Reserve® cards differ?
The main differences between the two cards include the annual fee, travel credits, and bonus rewards on travel and dining. The Preferred card has a $95 annual fee and offers a $50 annual hotel credit. In comparison, the Reserve has a $550 annual fee, offers a $300 travel credit, and includes additional benefits like airport lounge access.
Can I hold both the Chase Sapphire Preferred® and Reserve® cards at the same time?
No, Chase does not allow a single person to hold both the Sapphire Preferred® and Reserve® cards simultaneously. You must choose one.
What are the transfer partners for Chase Ultimate Rewards?
Chase Ultimate Rewards points can be transferred to a variety of airline and hotel loyalty programs, including United Airlines, Southwest Airlines, World of Hyatt, and Marriott Bonvoy. This allows for potentially greater value per point when redeemed for travel.
Are there foreign transaction fees on these cards?
No, both the Chase Sapphire Preferred® and Reserve® cards offer no foreign transaction fees, making them excellent choices for international travel.
What type of travel insurance do the Chase Sapphire cards provide?
Both cards come with a suite of travel insurance benefits, including trip cancellation and interruption insurance, auto rental collision damage waiver, and more. The Chase Sapphire Reserve® additionally offers emergency medical and dental coverage.
How can I maximize the value of Chase Ultimate Rewards points?
To maximize the value of your points, consider transferring them to airline and hotel partners, where they can be worth more than the standard redemption rate through Chase's travel portal. Booking business or first-class flights and luxury hotel stays are particularly effective strategies.
How do the dining rewards work for these cards?
The Chase Sapphire Preferred® earns 2x points on dining at restaurants, including eligible delivery services, while the Sapphire Reserve® earns 3x points on dining worldwide.
What are the annual fees for these cards?
The Chase Sapphire Preferred® has an annual fee of $95, while the Chase Sapphire Reserve® has a yearly fee of $550, reflecting its more extensive benefits.
Can I earn the sign-up bonus if I have had one of the cards before?
You are not eligible for the sign-up bonus on either card if you have received a new card member bonus for any Sapphire card in the past 48 months.