What the Chase Sapphire Cards Do

Chase makes two Sapphire cards: the Chase Sapphire Preferred and the Chase Sapphire Reserve. Both are built around travel rewards—you earn points on purchases, then redeem those points for flights, hotels, rental cars, and other travel expenses. The Reserve is the premium version with higher annual fees and higher earning rates; the Preferred costs less and suits people who travel less frequently.

The core difference between them is cost and benefit. The Sapphire Preferred has a $95 annual fee. The Sapphire Reserve has a $550 annual fee but includes travel credits that offset some of that cost—a $300 annual travel credit and a $100 Global Entry or TSA PreCheck credit. Which one makes sense depends on how much you actually travel and how much you spend.

Both cards use the same rewards currency: Chase Ultimate Rewards points. Points earned on one card can be combined with points from other Chase cards in your account, which means you build a larger pool to redeem all at once.

Key Takeaways

  • The Sapphire Preferred earns 3 points per dollar on dining and travel, 1 point on everything else, and costs $95 per year.
  • The Sapphire Reserve earns 3 points per dollar on dining and travel, 1 point on everything else, includes a $300 travel credit and $100 TSA PreCheck credit, and costs $550 per year.
  • Points can be redeemed for cash back, transferred to airline and hotel partners, or used to book travel through Chase's travel portal at a higher value.
  • Both cards require good to excellent credit—typically a score of 700 or higher—and come with travel protections like trip cancellation insurance and lost luggage reimbursement.
  • You can hold both cards at the same time, and points earned on each combine into one rewards account.

How to Earn Points on Each Card

The Sapphire Preferred earns 3 points per dollar on dining (including food delivery) and travel purchases. Travel includes flights, hotels, rental cars, taxis, rideshare, parking, trains, buses, and cruises. Everything else earns 1 point per dollar. There is no cap on points earned.

The Sapphire Reserve earns the same 3 points per dollar on dining and travel, plus 1 point per dollar on everything else. The difference is in the benefits that come with the card, not the earning rate itself.

Both cards offer a sign-up bonus when you first open the account. The bonus structure changes, but typically requires you to spend a certain amount within the first few months. The bonus is usually worth thousands of points—enough to cover a flight or several nights of hotels. Check the current offer when you look at the card, because the bonus changes throughout the year.

How to Redeem Points

You have three main ways to use your points. The first is cash back: redeem points directly for a statement credit at a rate of 1 cent per point. This is the simplest option but gives you the lowest value for your points.

The second is transfer to partners. Chase has partnerships with dozens of airlines (United, Southwest, American, Delta, and others) and hotel chains (Hyatt, Marriott, IHG, and others). You can transfer points to any partner account at a 1:1 ratio. The value you get depends on how you use those points—sometimes a transfer is worth much more than cash back, sometimes less. For example, transferring points to a hotel partner and booking a luxury resort might give you 2 cents or more per point in value, while transferring to an airline might give you 1.5 cents per point.

The third is booking through Chase's travel portal. You search for flights, hotels, and rental cars within the Chase website and pay with points. The portal typically values points at 1.25 cents each, which is better than cash back but usually less than transferring to partners if you know how to use partner programs well.

Annual Fees and Travel Credits

The Sapphire Preferred costs $95 per year with no credits to offset it. You pay the fee once a year on your card anniversary. The card does not charge a foreign transaction fee, which saves money when you use it abroad.

The Sapphire Reserve costs $550 per year, but it includes two credits that reduce the effective cost. The $300 annual travel credit covers airfare, hotels, rental cars, and other travel purchases—you get $300 back each year if you spend it on travel. The $100 Global Entry or TSA PreCheck credit covers the cost of expedited security screening at U.S. airports, which lasts five years. If you use both credits, your net cost is $150 per year ($550 minus $300 minus $100). The Reserve also has no foreign transaction fee.

Whether the Reserve makes financial sense depends on whether you will actually use the travel credit. If you travel several times a year and spend at least $300 on travel, the credit pays for itself. If you rarely travel, the Preferred is the better choice.

Travel Protections and Other Benefits

Both cards include trip cancellation insurance, which reimburses you if you have to cancel a prepaid trip for a covered reason (illness, injury, death in the family). Both also cover lost luggage reimbursement and travel delay reimbursement if your flight is delayed more than 12 hours.

The Sapphire Reserve adds trip delay reimbursement for delays of 6 hours or more (versus 12 hours on the Preferred), emergency medical and dental coverage while traveling outside the U.S., and emergency evacuation and transportation if you need to be airlifted or transported home due to illness or injury.

Both cards include purchase protection, which covers items you buy with the card against theft or damage for 120 days. Both also have extended warranty protection that extends the manufacturer's warranty by an additional year on may be able to access items.

Who Should Get Each Card

The Sapphire Preferred works best if you travel a few times a year, spend money on dining out regularly, and want to earn rewards without paying a high annual fee. The $95 fee is straightforward to justify if you earn enough points to redeem for at least one flight or hotel stay per year. This card is also a good choice if you want to test whether travel rewards cards fit your spending habits before committing to the higher-fee Reserve.

The Sapphire Reserve makes sense if you travel frequently (at least four or five times per year), spend heavily on dining and travel, and will use the $300 travel credit and $100 TSA PreCheck credit. The card is also worth considering if you value the additional travel protections and want the prestige of a premium card. The Reserve comes with a metal card and concierge service, which some people value beyond the financial benefits.

You can hold both cards at the same time. Some people do this to maximize sign-up bonuses or to use the Preferred for everyday spending and the Reserve for premium travel. Chase allows it, and the points combine in your Ultimate Rewards account.

How to Open an Account

You can open a Sapphire card online through Chase's website or by phone. You will need your Social Security number, date of birth, address, and income information. Chase will check your credit report, which means a hard inquiry will appear on your credit report for a few months. This may lower your credit score slightly.

Chase typically approves or denies applications within minutes. If you are approved, your card ships within 5 to 7 business days. You can usually start using the card when ready through a temporary digital card number in the Chase mobile app while you wait for the physical card to arrive.

There is no annual fee for the first year on either card—you pay the fee starting with your second year of membership. This gives you time to earn the sign-up bonus and decide whether the card is worth keeping.

Frequently Asked Questions

Can I transfer points between my Sapphire Preferred and Sapphire Reserve?

Yes. Points from both cards combine into one Chase Ultimate Rewards account. You can earn points on both cards and redeem them all together, which means you build a larger balance faster and have more flexibility in how you use them.

What credit score do I need to get approved?

Chase typically approves applicants with a credit score of 700 or higher, though approval is not may provide at any score. If your score is lower, you may be denied or offered a different Chase card instead. Checking your own credit score before you explore helps you know what to expect.

Do I have to use the travel credit on the Reserve, or do I lose it?

The $300 travel credit resets once per year on your card anniversary. If you do not use it in a given year, it does not roll over—you lose it. The credit applies automatically to any travel purchase you make with the card, so you do not have to claim it or request it.

Can I downgrade from the Reserve to the Preferred to avoid the annual fee?

Yes. You can call Chase and ask to downgrade your Reserve to a Preferred card. This closes the Reserve account and opens a new Preferred account. You will not owe the annual fee on the Reserve if you downgrade before your card anniversary. Downgrading does not hurt your credit.

What happens to my points if I close the card?

Your points do not disappear when you close a card. They stay in your Chase Ultimate Rewards account as long as you have at least one other Chase card open. If you close all your Chase cards, you have a limited time to redeem your points before the account closes.