Chase Sapphire Preferred vs Reserve (2026)
Same Chase Ultimate Rewards ecosystem. Completely different fee structures. The Reserve costs $550/yr vs the Preferred's $95/yr — but includes a $300 travel credit that effectively makes it $250/yr. Whether it's "worth it" depends entirely on how much you travel.
Wins on avg spend
Sapphire Preferred
$1,279
first year
Annual fee$95/yr
Effective fee$95/yr
Ongoing value$529/yr
Welcome bonus$750
Dining rate3x
Travel rate5x
Point value1.25¢/pt via portal
Lounge accessNone
Sapphire Reserve
$850
first year
Annual fee$550/yr
Effective fee$250/yr (after $300 travel credit)
Ongoing value$100/yr
Welcome bonus$750
Dining rate3x
Travel rate5x
Point value1.25¢/pt via portal
Lounge accessPriority Pass
For heavy travelers ($800/mo travel + $400/mo dining)
Preferred
$1,819
first year
Reserve
$1,390
first year
Even for heavy travelers, the Preferred's lower fee keeps it competitive in year 1.
Choose the Preferred if:
- ✓You spend under $500/month on combined travel and dining
- ✓You want a simpler card without tracking credits
- ✓You're new to travel rewards and want a lower-risk entry point
- ✓You already have the Reserve and want a no-fee downgrade path
Choose the Reserve if:
- ✓You spend $500+/month on travel — 10x on hotels/rentals via Chase adds up fast
- ✓You travel frequently and want Priority Pass lounge access (~$500 value)
- ✓You'll actually use the $300 travel credit (it's automatic — any travel purchase)
- ✓You want 1.5¢/pt via the portal (vs 1.25¢ on Preferred) for premium redemptions
Your spending is different. Use the CardIQ calculator to see which earns more for your exact numbers.