When is it worth it to have a Chase Sapphire card?

Chase has two Sapphire cards that are popular among frequent travelers, the Sapphire Preferred and Reserve cards. These cards both offer generous travel-related rewards.

What do these cards offer?

The Sapphire Reserve has a hefty $550 annual fee but offers 3x points on travel and dining at restaurants immediately after earning your $300 annual travel credit. You also earn 1x points on all other purchases and get an Ultimate Rewards bonus of 50%. The Sapphire Reserve offers a welcome bonus of 50,000 bonus points (worth up to $750 in travel) after you spend $4,000 on purchases in the first three months after opening your account, along with a 16.99% to 23.99% variable APR. The Sapphire Reserve also offers the following additional bonuses that the Preferred does not offer:

• Priority Pass Select lounge access (valued at $429)
• Global Entry/TSA PreCheck fee credit of up to $100 every four years
• $60 DoorDash credit in 2020 and an additional $60 credit in 2021
• Return protection
• Lost luggage reimbursement
• Complimentary year of LyftPink membership (worth $19.99/month), which includes 15% off car rides, relaxed cancellations and priority airport pickups
• Special benefits at The Luxury Hotel & Resort Collection, such as complimentary room upgrades, early check-in and late check-out
• Emergency evacuation and transportation
• 24/7 direct access to customer service specialists

The Sapphire Preferred, on the other hand, has a much more affordable $95 annual fee but offers only 2X points on travel and dining and 1X points on all other purchases. In addition, it has an Ultimate Rewards bonus of 25%, meaning your points are worth 25% less with the Sapphire Preferred when you redeem points for travel. The Sapphire Preferred offers a welcome bonus of 60,000 bonus points (also worth up to $750 in travel) after you spend your first $4,000 on purchases within three months after opening your account and an APR of 15.99% to 22.99% variable.

Holders of either card can also enjoy the following perks:

• Free DashPass (worth up to $200) for a minimum of one year
• Bonus rewards on Lyft purchases (10x for Reserve and 5x for preferred) through March 2022
• No foreign transaction fees
• Purchase protection
• Extended warranty protection
• Trip cancellation/interruption insurance
• Auto rental collision damage waiver
• Baggage delay insurance
• Trip delay reimbursement
• Travel and emergency assistance services

So, who should have these cards?

As you can see, many of the perks offered by both cards are travel-related and would greatly benefit avid travelers. If you travel often and would like to access more high-end perks, the Sapphire Reserve may be a great option, as it offers premium lounge access, Global Entry/TSA PreCheck credit and $300 annual travel credit. These benefits help compensate for the card’s hefty $550 annual fee.

However, if you travel but don’t do it enough to take full advantage of the Sapphire Reserve’s perks, the Sapphire Preferred is a better option. It still offers a 25% bonus on travel reward redemptions, many travel/purchase protections and a generous welcome bonus. These all come with a more affordable $95 annual fee.

Conclusion

The Chase Sapphire cards are excellent cards for frequent travelers. The Sapphire Reserve is better for those who travel very frequently and are willing to pay for high-end travel perks, while the Sapphire Preferred is better for those who still travel, but not enough to justify the high annual fee or take full advantage of the Reserve’s extra perks.