Why I Pay for Both Chase Sapphire Reserve and Preferred Cards

I’m guilty of having too many premium travel rewards cards. When the annual fees hit, I scramble to analyze whether I’m receiving enough benefits from each card to renew.

That was the case with my Chase Sapphire Reserve^® I’ve held for several years. When it was time to renew the card (and pay the $795 annual fee), I considered canceling or downgrading it to a Chase card with a lower or no annual fee.

In the end, I decided to keep my Chase Sapphire Reserve card and apply for the Chase Sapphire Preferred^® Card. Here’s why.

Why the Chase Sapphire Reserve Card Is Worth Keeping

While it was tough paying the $795 annual fee, the numbers didn’t lie when I added up the value I received from my Chase Sapphire Reserve card:

• $300 annual travel statement credit (of up to $300 in annual statement credits)
• $250 in hotel statement credits for a hotel reservation via The Edit by Chase Travel (of the up to $500 in annual statement credits available), plus hotel benefits worth $100 or more
• $250 hotel-brand credit (of up to $250 statement credits available in 2026)
• 8 visits to Chase Sapphire Lounge by The Club locations and Priority Pass lounges
• $300 in dining credits (out of up to $300 available each year)
• $210 in DoorDash credits (of up to $300 available each year)
• $150 StubHub credit (out of up to $300 each year)

The list adds up to more than $1,500 in value I received with the card. The list doesn’t take into account the value of transferring my points to World of Hyatt at a 1:1 ratio or the value I received using Points Boost redemptions at up to 2.5 cents per point.

I also found a lot of value in earning 8x points on travel booked with Chase Travel and 4x points on flights and hotels booked directly. From a redemption perspective, I have Ultimate Rewards points with my Chase Sapphire Reserve card that are worth an elevated 1.5 cents each when redeemed for travel through Chase Travel.

My main objective was to receive more value than the annual fee, and I successfully accomplished that.

Terms Apply / Rates & Fees

Chase Sapphire Reserve^®

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A top player in the high-end premium travel credit card space that earns points on travel and dining while offering top luxury perks.

Apply Now(at Chase's secure site)

Chase Sapphire Reserve^®

A top player in the high-end premium travel credit card space that earns points on travel and dining while offering top luxury perks.

Welcome Offer

Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.

100,000 points

UP's Offer Valuation*:

$2,000

Annual Fee

$795

APR

19.49% - 27.99% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Excellent

Why We Like This Card

If you’re looking for an all-around excellent travel rewards card, the Chase Sapphire Reserve^® is one of the best options.

The card combines elite travel benefits and perks like worldwide airport lounge access, with excellent point earning and redemption options. Plus, it offers top-notch travel insurance protections to cover you at home or on the road.

Don’t forget the more than $2,000 in annual credits, which can offset the annual fee!

Pros & Cons

Pros

• 8x points on all Chase Travel purchases
• 5x points on Lyft rides
• 4x points on flights and hotels booked directly

Cons

• $795 annual fee

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Card Highlights

• Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
• Get $3,000 in annual value with Sapphire Reserve.
• Earn 8x points on all purchases through Chase Travel℠, including The Edit℠ and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
• $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Access over 1,300 airport lounges worldwide with a complimentary Priority Pass™ Select membership, plus every Chase Sapphire Lounge^® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck^® every 4 years
• Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
• Get complimentary subscriptions to Apple TV and Apple Music for a minimum of one year when activated by June 22, 2027, a value of $288 annually.
• Member FDIC

Financial Snapshot

• APR: 19.49% - 27.99% Variable
• Foreign Transaction Fees: None

Rewards Center

Chase Ultimate Rewards

I Was Lured by Chase Sapphire Preferred’s 100K Welcome Offer

In a somewhat recent change, Chase now allows you to hold both Sapphire cards. If I downgraded my Chase Sapphire Reserve card to the Chase Sapphire Preferred card, I wouldn’t be eligible for its all-time best 100,000-point welcome offer.

The Chase Sapphire Preferred card is known as a solid travel rewards card offering value far beyond its lower $95 annual fee. Since I had never applied for the card, I decided to do so — and was approved.

After meeting the minimum spending requirement, I received a generous haul of 100,000 points.

LAST CHANCE

Terms Apply / Rates & Fees

Chase Sapphire Preferred^® Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

Apply Now(at Chase's secure site)

Chase Sapphire Preferred^® Card

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

Welcome Offer

Earn 75,000 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. Offer ends at 3 PM EST on 7/30/2026.

75,000 100,000 points

UP's Offer Valuation*:

$2,000

Annual Fee

$95

APR

19.24% - 27.49% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Good to Excellent

Why We Like This Card

The Chase Sapphire Preferred^® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, gas, EV charging, vacation homes, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.

Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance and emergency evacuation. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.

Pros & Cons

Pros

• 5x points on all travel booked via the Chase Travel portal
• 3x points on dining purchases, online grocery purchases (excluding Walmart, Target, and wholesale clubs), gas, EV charging, vacation homes (such as Airbnb and Vrbo), and select streaming services
• 2x points on all other travel worldwide

Cons

• $95 annual fee
• No elite benefits like airport lounge access or hotel elite status

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Card Highlights

• Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
• Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, 3x on vacation homes, 3x on gas & EV charging, 3x on top streaming services and online groceries (excluding Walmart, Target, and wholesale clubs), 2x on all other travel purchases, 1x on all other purchases
• Earn up to $100 in statement credits each account anniversary year for hotel stays through Chase Travel
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get a year of complimentary Apple TV when activated by December 31, 2026 - a value of $156.
• Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
• Receive one statement credit of up to $120 every four years as reimbursement for the application fee charged to your card for a Global Entry, TSA Precheck^® or NEXUS application.
• Transfer points to leading airline and hotel loyalty programs
• Member FDIC

Financial Snapshot

• APR: 19.24% - 27.49% Variable
• Foreign Transaction Fees: None

Rewards Center

Chase Ultimate Rewards

Why the Chase Sapphire Preferred Card Is Worth Keeping

I don’t apply for cards strictly for the welcome offer, as I prefer to continue receiving value while holding on to the card for the long term.

Thankfully, the Chase Sapphire Preferred card already has a leg up on the Chase Sapphire Reserve card with its ability to earn 3x points on streaming services, gas, and online groceries. That said, I don’t plan to use the 3x rate on EV charging and vacation homes, or the 5x points on travel on Chase Travel, since my Chase Sapphire Reserve card earns 8x points on travel on Chase Travel.

The Chase Sapphire Preferred card delivers more than $200 in direct value for me with these 2 statement credit benefits:

• Up to $100 annual hotel statement credit when booking a prepaid stay through Chase Travel
• Up to $10 each month in DoorDash credits outside of restaurants

Does It Make Sense To Have Both Chase Sapphire Cards?

While it may seem like carrying both Chase Sapphire cards would create unnecessary overlap, I’ve found the opposite to be true. Their benefits complement one another, and because I travel frequently, I can easily justify paying nearly $900 in combined annual fees.

The Chase Sapphire Preferred card offers better points-earning potential on everyday purchases, while the Chase Sapphire Reserve card rewards generously on all things travel. Both cards also offer helpful statement credits that I regularly use while traveling. Plus, having the Chase Sapphire Reserve card instantly boosts the value of my points by unlocking better transfer rates to World of Hyatt (1:1 vs. 4:3) and a higher redemption rate on Chase Travel.

That said, there are a few new benefits on the Chase Sapphire Preferred card that I don’t plan to use, such as a complimentary year of Apple TV (worth $156; activate by December 31, 2026). I will also not be using the Global Entry or TSA PreCheck statement credit, as I have that benefit on several other cards.

Although the Chase Sapphire Preferred card has excellent travel insurance protections and benefits, I will probably continue to use my Chase Sapphire Reserve card for most flight purchases, as the card also has solid travel insurance benefits and earns well on direct flight purchases.

Final Thoughts

Keeping the Chase Sapphire Reserve card and applying for the Chase Sapphire Preferred card allowed me to earn a new welcome offer. I’ll also earn well in new categories and take advantage of the statement credits.

If I ever decide to cancel or downgrade my Chase Sapphire Reserve card, I’ll have excellent travel insurance benefits in place with my Chase Sapphire Preferred card. It was a win-win decision that worked out well for me.