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The winner: Chase Sapphire Reserve®
60,000-point
Signup bonus after spending $4,000 in first 3 months
In its latest batch of card updates, Chase updated the signup bonus of the Chase Sapphire Preferred® Card to 100,000. It’s old value of 60,000 was slightly higher than the Chase Sapphire Reserve®‘s old bonus, but both cards were tied in value when it came to redeeming through the Chase Travel Portal. This is no longer the case.
Now, the Sapphire Preferred‘s buff signup bonus results in a value of up to $1,250 when redeemed through the travel portal or on the Pay Yourself Back feature. This is, in fact, the largest ever signup bonus value offered among Chase’s flagship cards. The Sapphire Reserve now rests at a close, but not-close-enough signup bonus value of up to $900, leaving the Sapphire Preferred the clear winner in this category.
The Sapphire Reserve earns 3x points on travel and dining purchases and 10x points on Lyft rides until March 2022. What’s more, once we add the 50% higher value on travel redemption through the Chase portal, your 3x and 10x points are actually worth 4.5x and 15x. To see why the Sapphire Reserve is the better card for earning rewards, check out the table below.
| Chase Sapphire Preferred® Card | Chase Sapphire Reserve® | |
|---|---|---|
| Travel and dining | $5,000 | $5,000 |
| Lyft | $1,800 | $1,800 |
| Everything else | $10,000 | $10,000 |
| Total spent | $16,800 | $16,800 |
| Total points earned | 35,800 | 49,800 |
| Points value at the Ultimate Rewards portal | $447 | $747 |
With an annual fee of $95, the Sapphire Preferred is the cheaper card. But you get what you pay for. Paying a lower annual fee means you get to earn fewer points on your purchases and you get to use fewer perks.
This isn’t a bad thing, though. Especially if you travel on a tight budget.
Both the Sapphire Preferred and the Sapphire Reserve are top picks for the Chase trifecta combination because they let you transfer points to partners in a 1:1 ratio, and because your points are worth more at the Chase Ultimate Rewards portal.
But travelers who want to squeeze the best out of their card should definitely go with the Sapphire Reserve. For example, with the Sapphire Reserve, you get $300 annual travel credit, Priority Pass lounge access, Global Entry or TSA PreCheck application fee credit, and benefits at the Luxury Hotel & Resort Collection. None of these perks are available for the Sapphire Preferred.
Travelers looking to maximize their Chase Ultimate Rewards points without burning a hole in their pocket should consider the Sapphire Preferred card. This card pairs well with the Chase Freedom Flexâ„ and Freedom Unlimited, and you can get a solid value on travel redemption.
Travelers looking for the best value and premium perks should consider the Sapphire Reserve. It also pairs well with the two Freedom cards, and you can get the highest value on travel redemption when you combine points between cards. Plus you get a host of valuable benefits and features.
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