Matt Moffitt is a contributing editor and expert in getting the most out of credit cards and points (he carries at least 25 cards in his wallet at any given time). Originally from Sydney, Australia, he won the Green Card Lottery and lived in Austin, Texas for 10 years before relocating to Spain in 2025.
July 2, 2026 • 9 min read
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Quick summary
Recent updates have made it more appealing for travelers to carry both of these popular travel rewards cards rather than choosing just one.
The refreshed benefits include higher rewards for vacation home rentals, gas, EV charging and various travel purchases on one card, while the other remains superior for flights, hotels and premium redemptions.
Cardholders can combine points between accounts, maximizing earning in certain categories and redeeming for enhanced value through premium travel benefits.
The strategy is especially attractive for those with significant spending on vacation rentals or who can use the annual hotel credit.
What to consider
Eligibility for new cardholder bonuses depends on prior account history and previously earned bonuses.
Some benefits and earning categories overlap between the two cards, requiring careful tracking of credits and perks.
A new transfer ratio for hotel loyalty points applies to some cardholders starting October 1, affecting point value for certain transfers.
What you'll miss from the article
A detailed breakdown of which spending categories favor each card and step-by-step advice for optimizing points and benefits by carrying both.
Generated by AI with support from our editorial team.
For years, most travelers chose one or the other and never seriously considered carrying both. But following the recent Sapphire Preferred refresh, I think there’s never been a stronger case for Sapphire Reserve cardholders to add the Sapphire Preferred to their wallet.
That’s especially true right now. The Sapphire Preferred is offering 75,000 bonus points, earned after spending $5,000 on purchases in the first three months from account opening.
Here’s why I added the Sapphire Preferred to my wallet despite already holding the Sapphire Reserve — and why other Reserve cardholders may want to consider doing the same.
Can you hold the Sapphire Preferred and the Sapphire Reserve at the same time?
Yes. Chase allows consumers to hold both the and the simultaneously.
The bigger question isn’t whether you can have both cards — it’s whether you’ll be eligible for a welcome bonus.
According to Chase, welcome offer eligibility depends on several factors, including previously earned bonuses and account history. In practice, if you’ve previously earned a Sapphire Preferred welcome bonus, you may be able to get the Sapphire Preferred again, but you’re unlikely to receive another welcome bonus on that card.
OLEG BRESLAVTSEV/GETTY IMAGES
The same generally applies to the Sapphire Reserve. If you’ve previously earned a Sapphire Reserve welcome bonus and closed the card, you’re unlikely to earn the welcome bonus again.
That doesn’t necessarily mean you can’t get the card — it just means you shouldn’t assume you’ll receive the welcome bonus.
If you want to add a second Sapphire card, you can either apply outright or product change an existing Chase card.
Applying outright is usually preferable if you’re eligible for the welcome bonus, while product changing can make sense for cardholders who are over Chase’s 5/24 limit.
The latter is the route I took.
Why I added the Sapphire Preferred to my wallet
I’ve held the for nearly a decade. I also previously had the , earned a welcome bonus and eventually closed the card.
Last week, I decided to add the Sapphire Preferred back to my wallet.
Because I’m over Chase’s 5/24 limit, applying for a new Sapphire Preferred wasn’t possible. Instead, I product changed my no-annual-fee (see rates and fees) into a Sapphire Preferred knowing I wouldn’t be eligible for a welcome bonus.
I have a four-month Airbnb stay in Madrid later this year, with $7,220 in payments due. Charging those stays to the Sapphire Preferred will earn me 21,660 Chase Ultimate Rewards points worth $444 based on TPG’s June 2026 valuations.
That benefit alone justifies carrying the card in my situation.
Why Sapphire Reserve cardholders should add the Sapphire Preferred
The remains the better card for flights and hotels booked directly and Chase Travel℠ purchases. But following the refresh, there are now several categories where the Preferred is the clear winner.
Spending category
Sapphire Preferred
Sapphire Reserve
Vacation home rentals*
3 points per dollar
1 point per dollar
Gas
3 points per dollar
1 point per dollar
Electric vehicle charging
3 points per dollar
1 point per dollar
Other travel (including trains, public transit, taxis, ride-hailing services and parking)
2 points per dollar
1 point per dollar
Dining worldwide
3 points per dollar
3 points per dollar
Flights booked directly with airlines
2 points per dollar
4 points per dollar
Hotels booked directly
2 points per dollar
4 points per dollar
Chase Travel purchases
5 points per dollar
8 points per dollar
*Eligible vacation rental bookings include those made with Airbnb, Vrbo, Plum Guide, HomeAway, Homestay.com and Vacasa.
That lets you earn at higher rates on categories like vacation rentals and gas while still taking advantage of Sapphire Reserve benefits like lounge access, Points Boost redemptions, the annual travel credit and a more favorable World of Hyatt transfer ratio†.
†The 4:3 transfer ratio is immediate for those who applied for the Sapphire Preferred from June 15; it devalues from 1:1 to 4:3 on Oct. 1 for other cardholders.
Watch out for overlapping benefits
There is some duplication. Both cards earn 3 points per dollar spent on dining, include travel protections and offer access to Chase transfer partners (excluding the World of Hyatt transfer ratio difference).
That’s the position I’m in. I won’t receive a welcome bonus on my Sapphire Preferred, but the annual hotel credit can offset the annual fee. Not to mention, my upcoming Airbnb spending alone should generate hundreds of dollars worth of Ultimate Rewards points.
Advice for existing Sapphire Preferred Card holders
If you’re starting from the opposite position and already have the , I’m less enthusiastic about adding the .
The Reserve’s annual fee is $700 higher, and maximizing its value requires much more effort.
That said, frequent travelers who value lounge access, stronger travel protections and premium redemption options may still find it worthwhile.
A year ago, I probably would have told most cardholders to stick with a single Sapphire card. Today, I think the opposite may be true.
The Sapphire Reserve remains Chase’s flagship travel rewards card, but the has become a much stronger companion. That's thanks to its bonus categories on vacation home rentals, gas, EV charging and general travel purchases.
If you’re eligible for the Sapphire Preferred’s current 75,000-point welcome offer is very generous. But even if you’re not, the card can still be worth carrying if you’ll use the $100 annual hotel credit and spend meaningfully in its strongest bonus categories.
That’s ultimately why I added the Sapphire Preferred back to my wallet — and why I think there’s a stronger case than ever for frequent travelers to carry both cards.
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
