The Chase Sapphire Preferred Card has been one of my favorite credit cards for a while now, and I’ve written about some of my favorite benefits like trip cancellation and trip delay coverage in the past. With the recent announcement and availability of Chase’s new Chase Sapphire Reserve, I think there’s a new best card available for semi-frequent to frequent travelers. Here’s why.
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Chase Sapphire Preferred® Card
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$0 intro first year
$95 annual fee |
Earn 50,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. That's $625 in travel when you redeem through Chase Ultimate Rewards® Read Review » |
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Chase Sapphire Preferred® Card |
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1. Better Points Earning
The Chase Sapphire Reserve has better points earning opportunities than the Chase Sapphire Preferred. It earns 3 points per dollar spent versus the Sapphire Preferred’s 2 on travel and dining purchases. Both cards earn one point per dollar spent on all other purchases.
2. $300 Airline Fee Credit Off-Sets the Annual Fee
The Sapphire Reserve has a scary-sounding annual fee: $450. BUT, the card comes with a $300 annual airline fee credit, which if used, effectively brings the annual fee down to $150. This really isn’t a whole lot higher than the Sapphire Preferred’s $95, though it isn’t waived the first year.
3. Lounge Access
The Sapphire Reserve comes with a Priority Pass Select Membership WITH guest access. The Platinum Card from American Express also has this membership, without guest access, and the Citi Prestige Card has the same membership with guest access.
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The Platinum Card® from American Express
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$450 first year
$450 after first year |
40,000 points After you spend $3,000 on purchases on your new Card in your first 3 months Read Review » |
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The Platinum Card® from American Express |
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Citi Prestige® Card
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$450 first year
$450 after first year |
40,000 Points After $4,000 in purchases made with your card in the first 3 months the account is open. Read Review » |
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Citi Prestige® Card |
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4. INSANELY High Sign Up Bonus
The Chase Sapphire Reserve has an AMAZING sign-up bonus right now. You’ll earn 100,000 Chase Ultimate Rewards after you spend $4,000 within three months of account opening. This is a ton of very valuable points with a relatively low spend requirement to earn them.
5. 50% Bonus When Redeeming Through Chase’s Travel Portal
Sometimes points can be tough to use because you need to find availability for the flights you want. With Chase’s travel portal, that isn’t the case. You’ll get a 50% bonus when redeeming points through the Chase Travel Portal, effectively giving you 4.5% cash back on travel and dining purchases and 1.5% back on all other purchases. This isn’t too bad of a way to go.
A Word of Caution
The Chase Sapphire Reserve card does appear at this point to fall under Chase’s 5/24 rule. Many people who are part of Chase Private Client have reported getting around the 5/24 rule, as have some people who have gone in-branch to apply. If you are under 5/24, you should definitely apply for this card now, and if you are over 5/24 you should consider your options regarding joining Chase Private Client, going in-branch, or doing a product change from another Chase card. Of course, if you take the last option, you will not get the 100,000 Ultimate Reward Points sign up bonus, but you will have access to the other great benefits of this card.
What do you think about the Chase Sapphire Reserve?
[Image via Getty]