Chase Sapphire Reserve℠

Chase Sapphire Preferred vs. Chase Sapphire Reserve: Benefits, Coverage & More

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TPG Points & Miles Editor Sarah Silbert shows you a side-by-side comparison of the Chase Sapphire Preferred and the just-launched premium Chase Sapphire Reserve Card.

The much-anticipated Chase Sapphire Reserve Card was announced last week, and now you can sign up the card online (via this link). TPG explored the specifics of the card in his review, and our Q&A post shares some of the most asked-about details, but if you’re looking for a simple comparison between the Chase Sapphire Preferred and the Chase Sapphire Reserve, you’ve come to the right place. The table below compares the various features, fees and benefits offered by the two cards, making it easy to find the differences without needing to hunt through the benefits guide.

Main Benefits and Features

Card Chase Sapphire Preferred Chase Sapphire Reserve
Annual fee $95 $450
Earning rates 2x points on travel and dining, 1x on everything else 3x points on travel and dining, 1x on everything else
Sign-up bonus 50,000 points after you spend $4,000 in the first three months 100,000 points after you spend $4,000 in the first three months
Point value for UR portal redemptions 1.25 cents 1.5 cents
Credits N/A $300 annual travel credit, Global Entry/TSA PreCheck application fee credit
Lounge access N/A Priority Pass Select
Authorized user fee $0 $75

As you can see, the main difference between the Chase Sapphire Preferred Card and the Chase Sapphire Reserve are annual fee (with the Reserve’s falling in line with other premium travel rewards cards), earning rates, sign-up bonus and extras like lounge access and travel credits. These differences are pretty significant — especially considering that TPG values Ultimate Rewards points at 2.1 cents apiece, meaning the Sapphire Reserve’s sign-up bonus is worth $2,100 (compared to $1,050 for the Sapphire Preferred). The $300 annual travel credit also goes a very long way to offsetting the high annual fee.

Travel Coverage and Purchase Protection

It’s also worth comparing the two cards’ coverage for things like travel delays, trip cancellation and purchase protection. While they offer some identical benefits, there are a few differences:

Card Chase Sapphire Preferred Chase Sapphire Reserve
Rental car insurance Primary; “expensive and exotic cars” are excluded Primary; provides reimbursement up to $75,000 for theft and collision
Roadside assistance $59.95 per service call Coverage up to $50 per incident 4 times a year
Trip cancellation insurance Up to $10,000 per covered trip Up to $10,000 per covered trip
Trip delay insurance Up to $500 per ticket for delays of 12 or more hours (or requiring an overnight stay) Up to $500 per ticket for delays of 6 or more hours (or requiring an overnight stay)
Baggage delay insurance Up to $100 per day for up to 5 days Up to $100 per day for up to 5 days
Lost luggage reimbursement Up to $3,000 per person (up to $500 per person for jewelry, watches, cameras, video recorders and other electronic equipment) Up to $3,000 per person (up to $500 per person for jewelry, watches, cameras, video recorders and other electronic equipment)
Travel accident insurance $500,000 for common carrier loss of life benefit; $100,000 for 24-hour loss of life benefit $1,000,000 for common carrier loss of life benefit; $100,000 for 24-hour loss of life benefit
Purchase protection Up to $500 per claim and up to $50,000 per account Up to $10,000 per claim and up to $50,000 per year

The Chase Sapphire Reserve is clearly the more generous of the two cards, with fewer restrictions attached to its primary car rental insurance; free roadside assistance (up to a limit); and higher trip cancellation insurance, travel accident insurance and purchase protection.

These differences are worth keeping in mind if you hold both cards and are making a relevant purchase — in pretty much every situation, you’ll want to go with the Sapphire Reserve to enjoy the superior protections. However, if you hold the Sapphire Preferred Card and are planning on signing up for the Sapphire Reserve, it could be worth downgrading the former to a no-fee option like the Chase Freedom or Chase Freedom Unlimited, since there aren’t concrete benefits to keeping both Sapphire cards open.

Bottom Line

The Chase Sapphire Reserve Card is obviously a big step up from the Chase Sapphire Preferred — not just when it comes to the sign-up bonus, earning rates and travel credits, but also with travel coverage and purchase protection. The Chase Sapphire Preferred Card has long been a TPG favorite, and the Sapphire Reserve only improves upon that card’s many strong features. This post doesn’t tackle whether the Chase Sapphire Reserve is necessarily right for you — see the review for more info on that — but hopefully it serves to highlight the main differences between Chase’s flagship consumer cards.

For more on the Chase Sapphire Reserve card:

Which card features are most important to you?

Chase Sapphire Reserve℠

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  • New! Earn 100K bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,500 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases such as airfare and hotels charged to your card
  • 3X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases. Plus, no foreign transaction fees
  • Get 50% more value when you redeem your points for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 100,000 points are worth $1,500 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 900+ airport lounges worldwide with complimentary Priority Pass™ Select membership
  • Up to $100 application fee credit for Global Entry or TSA Pre√®
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
Intro APR Regular APR Annual Fee Foreign Transaction Fee Credit Rating
N/A 16.24%-23.24% Variable $450 0% Excellent Credit