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UPDATE: Welcome offers for the cards listed below may be out of date. Confirm the current welcome offers on each card issuer's site.
This article has been updated with new information since its original publish date.
Whether you’re a casual vacationer or a hardcore road warrior, you’ve likely heard of Chase’s Sapphire lineup of travel credit cards—and with good reason. With generous welcome bonuses, favorable earning structures, and plentiful redemption options, the Chase Sapphire Reserve and its more affordable sister card, the Chase Sapphire Preferred, are two of the best credit cards out there when it comes to travel rewards.
Right now, both the Reserve is offering an 80,000-point welcome bonus, and the Preferred 60,000 points—a value of up to $1,200 or $750, respectively, when redeemed through Chase's travel portal.
And Chase Ultimate Rewards Points are some of the most flexible and valuable travel rewards on the market. They can be transferred at a 1:1 ratio to more than a dozen top airline and hotel partners (more on that below).
Both cards are also positively packed with valuable perks. Depending on the card, those benefits can range from a credit for TSA PreCheck or Global Entry, airport lounge access, and statement credits toward travel and grocery purchases. Both the Reserve and the Preferred also offer comprehensive protections for travel reservations purchased on the cards, including trip cancellation, interruption, and delay insurance; car rental insurance; and coverage for lost and delayed luggage.
Here’s everything you need to know about the Chase Sapphire Reserve and Sapphire Preferred rewards and benefits, and how frequent travelers can make the most of them.
Chase Sapphire Reserve Card
Welcome offer:
The Chase Sapphire Reserve is currently offering new applicants a welcome bonus of 60,000 Ultimate Rewards points after spending $4,000 in the first three months. Those points are worth $900 toward travel when redeemed directly through the Chase travel portal.
Additional perks:
Every account year, Reserve cardholders receive up to $300 in statement credits as reimbursement for travel charges made to their card, including flight, hotel, and car rental bookings, which can take some of the sting out of the card's annual fee.
Travelers with the Reserve get a $100 statement credit toward TSA PreCheck or Global Entry membership every four years. The card also comes with a Priority Pass select membership, which gives Reserve holders and up to two guests access to more than 1,300 airport lounges worldwide.
On a day-to-day basis, the Chase Sapphire Reserve earns three points per dollar on a broad range of travel purchases, including Airbnbs, taxis, ride-shares, cruises, and even tolls and parking meters. The card collects five points per dollar on flights, 10 points per dollar on hotels and car rentals, and three points per dollar on dining, including many takeout and delivery services. If travel and dining are normally two of your largest expense areas, this card can really help you rack up points quickly. It earns one point per dollar on all other eligible purchases.
Annual fee: $550
Foreign transaction fees: None
Chase Sapphire Preferred Card
Welcome offer:
New Chase Sapphire Preferred cardholders can earn 60,000 bonus points after spending $4,000 in the first three months after account opening. Those points are worth $750 when redeemed through Chase's online travel portal.
Additional perks:
Preferred cardholders can get 25 percent more value from their points with Chase's temporary Pay Yourself Back feature, which allows you to redeem points for statement credits against existing purchases in rotating categories.
And they can also rest easy while shopping or traveling knowing the Preferred, like the Reserve, offers purchase and extended warranty protection, trip cancellation or interruption insurance, an auto rental collision damage waiver, and other benefits.
It's easy to accrue plenty of points with the Preferred: It earns two points per dollar on travel purchases; three points per dollar on dining purchases, including select takeout and delivery services; three points per dollar on online grocery purchases; three points per dollar on select streaming services; and one point per dollar on everything else.
Annual fee: $95
Foreign transaction fees: None
How can you use those points?
Chase Sapphire Reserve cardholders can redeem the Ultimate Rewards points they earn with their card in a number of ways. Points are worth 1.5 cents apiece toward travel booked directly through Chase’s own travel portal. For a point of comparison, if you have the Chase Sapphire Preferred, which has a $95 annual fee, your per-point value is just 1.25 cents. Put another way, let’s say you found a $200 airline ticket and wanted to book it using your points. With the Reserve, you’d need just 13,334 of them to do so; with the Preferred, 16,000.
Ultimate Rewards points are also transferable to 14 different airline and hotel loyalty programs at a ratio of one Chase point to one airline or hotel point. Those transfer partners are:
Airline partner programs
· Aer Lingus AerClub
· Air Canada Aeroplan
· Air France/KLM Flying Blue
· British Airways Executive Club
· Emirates Skywards
· Iberia Plus
· JetBlue TrueBlue
· Singapore Airlines KrisFlyer
· Southwest Rapid Rewards
· United MileagePlus
· Virgin Atlantic Flying Club
Hotel partner programs
· World of Hyatt
· IHG Rewards Club
· Marriott Bonvoy
Transferring points can make a lot of sense for high-value redemptions, such as international business or first-class fares, or for suites at luxury hotels. The flexibility cardmembers have to transfer points and book travel when needed rather than having to commit to a single airline or hotel chain and spend years earning miles or points can be extremely useful.
When booking with the card, Chase Sapphire members also get benefits at participating SBE Hotels, including a $30 room credit and the fourth consecutive night free.
Condé Nast Traveler has partnered with CardRatings for our coverage of credit card products. Condé Nast Traveler and CardRatings may receive a commission from card issuers.
This article has been updated with new information since its original publish date. Additional reporting by Jessica Puckett.