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Thinking about applying for both the Chase Sapphire Preferred and Chase Sapphire Reserve? Well, as of this week, it’s no longer possible to sign up for both — you’ll need to pick one or the other.

As reported by Doctor of Credit and confirmed by TPG, Chase just began restricting Sapphire signups. It’s a logical move — there isn’t any reason to carry both the Preferred and Reserve cards, since the Reserve offers all of the Preferred benefits, plus a whole lot more. The only advantage to applying for both cards is related to the sign-up bonus — both products offer 50,000 Ultimate Rewards points after you spend $4,000 in the first three months, so if you managed to get both you could have ended up with a cool 100k. That deal’s no longer on the table. Going forward, you’ll need to wait 24 months after receiving a Sapphire sign-up bonus before signing up for a new Sapphire card. (Note that if you already have both Sapphire cards you’ll be able to keep both accounts open.)

So, now that you can only get one or the other, which should you pick? Well, most of my friends and family members now carry the Chase Sapphire Reserve. Sure, they signed up last year when Chase was offering 100,000 points for this card alone, but they’re all hanging onto the Reserve for at least another year — after all, if you spend an average of just $9.68 per day on travel and dining, and can take advantage of the other perks, you’ll come out ahead with the Sapphire Reserve. That works out to about $3,532 per year — even if you only purchase airline tickets, stay at hotels and dine out occasionally, there’s a very good chance you’re spending quite a bit on purchases that earn 3 points per dollar.

And, if you later decide that Sapphire Reserve isn’t the best fit for you, you can product-change to the Sapphire Preferred after the first year. You won’t be eligible for the sign-up bonus, but it’s entirely possible to move to a different product within the Sapphire family. Similarly, you can upgrade from Preferred to Reserve, if you currently have a Preferred card and can benefit from the boosted perks.

Would you sign up for Chase Sapphire Preferred or Reserve?

The best beginner points and miles card out there.
Chase Sapphire Preferred® Card

With great travel benefits, 2x points on travel & dining and a 50,000 point sign up bonus, the Chase Sapphire Preferred is a great card for those looking to get into the points and miles game. Here are the top 5 reasons it should be in your wallet, or read our definitive review for more details.

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More Things to Know
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • 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 on Purchases
Regular APR
17.24% - 24.24% Variable
Annual Fee
$0 Intro for the First Year, then $95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit
Excellent Credit

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