Sapphire Preferred vs Sapphire Reserve

Every figure below is from the same dataset Miles computes its recommendations from. Rows the two cards agree on are collapsed at the bottom.

Sapphire Preferred

Chase

Sapphire Reserve

Chase

Economics

Annual fee

$95

$700/yr less

$795

Ongoing annual value

$473

$1,724

$1,251/yr more

Net value (value − fee)

$378

$929

$551/yr more

First-year value estimate

$1,020

$1,169

$149/yr more

Authorized user fee

—

$195

Sign-up Bonus

Current offer

75K bonus points after spending $5K within the first three months from account opening.

100K points after $6K spend in the first 3 months

Earning

Peloton hardware and accessory purchases (up to 50,000 total points)

—

10X15%

Peloton equipment and accessories over $150 (through 12/31/2027, max 25K points)

5X7.5%

—

Flights booked directly with airlines

—

4X6%

Hotels booked directly with hotels

—

4X6%

Gas & EV charging

3X4.5%

—

Online Grocery (excluding Target, Walmart, and Wholesale Clubs)

3X4.5%

—

Select streaming services

3X4.5%

—

Travel booked through Chase Travel

5X7.5%

8X12%

Vacation homes

3X4.5%

—

Travel including airlines, hotels, motels, timeshares, rental car agencies, cruise lines, travel agencies, discount travel sites, campgrounds and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages

2X3%

—

Percentages are the return on a dollar spent: the multiplier times what Miles values those points at. Categories only one card earns a bonus on are marked for that card; the other earns its base rate.

Benefits

Statement credits

Hotel Credit: $100 (Annual Cardmember Year)
DoorDash Grocery/Retail (non-restaurant): $10 (Monthly)
Global Entry / TSA PreCheck / NEXUS Credit: $120 (Every 4 Years)

The Edit by Chase Travel: $250 (Semi Annual Calendar Year)
Travel: $300 (Annual Cardmember Year)
OpenTable Exclusive Tables Dining: $150 (Semi Annual Calendar Year)
StubHub and viagogo: $150 (Semi Annual Calendar Year)
Global Entry/TSA PreCheck: $120 (Every 4 Years)
Lyft: $10 (Monthly)
Peloton: $10 (Monthly)
DoorDash: $5 (Monthly)
DoorDash Grocery/Retail (non-restaurant): $10 (Monthly)
DoorDash Grocery/Retail (non-restaurant): $10 (Monthly)
Chase Travel Hotel (2026): $250 (Annual Calendar Year)

Lounge access

—

Priority Pass Select (unlimited)
Chase Sapphire Lounge (unlimited)
Air Canada Maple Leaf Lounge (unlimited)

Elite status

—

Marriott Bonvoy Gold
IHG One Rewards Platinum
IHG One Rewards Diamond
World of Hyatt Explorist
Southwest Rapid Rewards A-List
National Emerald Club Executive

Protections

The same on both cards (8)

Foreign transaction fee

None

Issuer

Chase

Rewards currency

Chase Ultimate Rewards

Card type

Personal

Network

Visa

All other purchases

1X1.5%

Dining

3X4.5%

Lyft (through 9/30/2027)

5X7.5%

Which one is right for you

This page shows the difference. It does not pick: the winner depends on what you spend and what you already hold, and adding these figures up without knowing that would be a guess dressed as a verdict. Ask Miles and it computes the answer against your own wallet.

Ask Miles which to get

No ads, no paid placement · Your wallet, your math