What the Sapphire Card Is
The Sapphire Preferred and Sapphire Reserve are two premium credit cards issued by Chase. Both are designed for people who spend regularly on travel and dining, earn rewards on those purchases, and are willing to pay an annual fee for the benefits that come with the card. The Preferred version costs less annually and works well for moderate spenders; the Reserve costs more but includes perks like airport lounge access and travel credits that offset the fee for heavy travelers.
Neither card is a starter card or a card designed to help you build credit from scratch. Both require a good credit score to be approved — typically 740 or higher, though Chase does not publish exact minimums. If you are new to credit or rebuilding after missed payments, a different card will be a better fit.
Key Takeaways
- The Sapphire Preferred charges a $95 annual fee and earns 3 points per dollar on travel and dining; the Sapphire Reserve charges $550 annually but includes $300 in annual travel credits and airport lounge access.
- Points are worth more when you redeem them through Chase's travel portal — typically 1.5 cents per point — than when you transfer them to airline or hotel partners.
- Both cards require good credit to be approved and are most valuable if you spend at least $2,000 to $3,000 per year on the bonus categories.
- The annual fee is charged on the first statement and every 12 months after, regardless of whether you use the card.
- You can downgrade to a no-fee Chase card instead of closing the account, which preserves your credit history and account age.
How Points and Rewards Work
Both Sapphire cards earn Chase Ultimate Rewards points, which are the same currency whether you hold the Preferred or Reserve. You earn points on every purchase, but the earning rate depends on the category. On travel (airlines, hotels, rental cars, taxis, parking) and dining (restaurants, bars, food delivery), you earn 3 points per dollar. On everything else, you earn 1 point per dollar.
The value of your points depends on how you redeem them. If you book travel directly through the Chase travel portal — a website within your Chase account — each point is worth roughly 1.5 cents, meaning 1,000 points = $15 in travel value. If you transfer points to an airline or hotel partner (like United, Hyatt, or Marriott), the value varies by partner and by what you are booking; sometimes you get more value per point, sometimes less. Redeeming points for cash back gives you only 1 cent per point, which is why most cardholders avoid that option.
New cardholders typically receive a sign-up bonus — a large number of points awarded after you spend a certain amount in the first few months. The bonus changes regularly; Chase may offer 50,000 points, 75,000 points, or another amount depending on the current promotion. You must meet the spending requirement to earn the bonus, and the requirement is usually $4,000 to $7,000 in purchases within three months.
Annual Fees and When They Make Sense
The Sapphire Preferred charges $95 per year. The Sapphire Reserve charges $550 per year, but includes a $300 annual travel credit that you can use on flights, hotels, rental cars, and other travel purchases. That credit effectively reduces the Reserve's cost to $250 per year. The Reserve also includes a $120 annual dining credit (called DashPass+) that covers food delivery services, which further reduces the net cost if you use it.
Whether the annual fee is worth it depends on your spending. If you spend $3,000 or more per year on travel and dining combined, the Preferred's $95 fee is usually offset by the extra points you earn in those categories compared to a no-fee card. For the Reserve, you need higher spending — typically $8,000 to $10,000 per year on travel and dining — for the rewards to outweigh the $550 fee, even after accounting for the travel and dining credits.
The fee is charged to your account on the first statement and then every 12 months on the anniversary of your account opening. You are charged the fee even if you do not use the card that month, so closing or downgrading the card before the anniversary date is the only way to avoid paying it again.
Comparing Sapphire Preferred and Reserve
| Feature | Sapphire Preferred | Sapphire Reserve |
|---|---|---|
| Annual Fee | $95 | $550 |
| Travel Credit | None | $300 per year |
| Dining Credit | None | $120 per year (DashPass+) |
| Points on Travel & Dining | 3 points per dollar | 3 points per dollar |
| Points on Other Purchases | 1 point per dollar | 1 point per dollar |
| Airport Lounge Access | No | Yes (Priority Pass) |
| Trip Cancellation Insurance | Yes | Yes |
| Baggage Delay Reimbursement | Yes | Yes |
The Preferred is the better choice if you travel occasionally and dine out regularly but do not want to pay a high annual fee. The Reserve makes sense if you travel frequently, value airport lounge access, and can use the travel and dining credits to offset most of the annual cost.
Both cards earn the same points on the same categories, so the choice between them comes down to whether the Reserve's extra perks and credits justify the higher fee for your spending habits. If you are unsure, start with the Preferred and upgrade later if your travel spending increases.
Credit Score and Approval Odds
Chase typically approves Sapphire applicants with a credit score of 740 or higher, though some people with scores in the 700–739 range have been approved. Your credit score is not the only factor Chase considers; they also look at your income, employment history, and how many credit cards you have opened in the past two years. explore for too many cards in a short time can lower your approval odds, even with a high score.
When you explore, Chase performs a hard inquiry on your credit report, which temporarily lowers your score by a few points. If you are denied, you can call the reconsideration line (the number is on your denial letter) and ask Chase to reconsider, but they rarely reverse a denial without new information about your income or credit situation.
How to Downgrade Instead of Closing
If you decide the annual fee is no longer worth it, you have two options: close the account or downgrade to a different Chase card with no annual fee. Downgrading is usually the better choice because it keeps your account open and preserves your credit history. The longer your accounts stay open, the higher your credit score tends to be.
To downgrade, call the number on the back of your Sapphire card and ask to move to a no-fee card in Chase's lineup — options include the Chase Freedom Unlimited or Chase Freedom Flex. The downgrade usually takes effect when ready, and you will not be charged another annual fee. Your existing points remain in your account and can still be redeemed through the Chase travel portal.
If you close the account instead, you lose the account history, which can lower your score slightly. You also cannot earn points on that card anymore, though any points you have already earned stay in your account.
Other Perks and Protections
Both Sapphire cards include travel insurance that covers trip cancellation, trip delay, and lost baggage. If your flight is cancelled due to weather and you have to book a new one, or if your luggage is delayed and you need to buy essentials, the card can reimburse you. The coverage limits and exact terms vary, so read the benefits guide that comes with your card to understand what is covered.
Both cards also offer purchase protection, which covers items you buy with the card if they are damaged or stolen within a certain time frame (usually 120 days). This is different from the travel insurance and applies to any purchase, not just travel-related ones.
The Reserve includes Priority Pass Select, which gives you access to airport lounges around the world. You can bring one guest with you. Lounge access is valuable if you travel frequently and want a quiet place to work or rest before your flight, though the benefit is only useful if you fly often enough to make use of it.
Frequently Asked Questions
Can I get the sign-up bonus if I already have a Sapphire card?
Chase's rules vary, but generally you cannot earn a new sign-up bonus on the Sapphire Preferred or Reserve if you have received a bonus on either card in the past 24 months. If you downgrade your current Sapphire to a no-fee card, you can explore for a new Sapphire card after 24 months and earn the bonus again.
What happens to my points if I close the card?
Your points do not disappear when you close the card. They stay in your Chase account and you can redeem them anytime through the Chase travel portal or by transferring them to airline and hotel partners. However, you can no longer earn new points on that closed card.
Is the Sapphire card worth it if I do not travel much?
Probably not. The card's value comes from earning 3 points per dollar on travel and dining. If you rarely book flights or hotels and do not eat out often, a no-fee card that earns 1.5% to 2% cash back on all purchases will likely save you money and give you more value.
Can I use the travel credit on any airline or hotel?
The $300 annual travel credit on the Reserve covers most travel purchases — flights, hotels, rental cars, taxis, parking, and some travel booking sites. It does not cover airline gift cards or purchases made through third-party sites like Costco Travel. The credit is applied automatically when you make a may have access to purchase, so you do not have to do anything to claim it.
What credit score do I need to be approved?
Chase typically approves Sapphire applicants with a score of 740 or higher, but approval also depends on your income, employment history, and recent credit applications. If your score is below 740, your odds of approval are lower but not zero. The best way to find out is to check your credit report for errors, wait a few months if you have recently opened other cards, and then explore.