The Chase Sapphire Reserve® and the Chase Sapphire Preferred® Card are two of Chase's best travel credit cards. You'll want to focus on each card's bonus categories and travel perks, but the biggest thing will actually be how you plan on redeeming your points.
Transferring points to partners versus using each card's point value boost towards travel booked through Chase Ultimate Rewards can make a big difference due to the significant range in point values you can obtain from these redemptions.
Rewards Rates

As part of the Chase-Lyft Partnership, the Chase Sapphire Reserve also earns 10X points on Lyft purchases until March 2025.
Do note that you will not earn bonus points on travel purchases until after you use the annual $300 travel credit. Once the credit is exhausted, you'll then earn the 5X/10X bonuses on travel purchases.

As part of the Chase-Lyft Partnership, the Chase Sapphire Preferred Card also earns 5X points on Lyft purchases until March 2025.
Do note that you will not earn 5X points on hotel purchases that qualify for the $50 Annual Ultimate Rewards Hotel Credit. Once the credit is exhausted, you'll then earn 5X on hotel purchases through the portal.
Current Intro Bonus

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®.

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Key Cardholder Benefits

- Receive up to $300 in statement credits as reimbursements for travel purchases charged to your Chase Sapphire Reserve card each account anniversary year. You will not earn points on travel purchases until you have used the full $300 credit.
- Receive a statement credit of up to $100 every 4 years as reimbursement for the Global Entry, TSA PreCheck, or NEXUS application fee charged to your Chase Sapphire Reserve.
- Receive complimentary Priority Pass Select membership which grants access to over 1,000 VIP lounges worldwide so you can rest before your flight.
- Enjoy special benefits such as complimentary room upgrades, early check-in, late check-out, and more when you book your stays at top hotels and resorts worldwide through The Luxury Hotel & Resort Collection.
- Receive a 50% boost to point value when you redeem your points through Chase Ultimate Rewards (1.5 cents per point).
- Use Pay Yourself Back℠ for up to 50% more in point value during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get complimentary access to DashPass – a membership for both DoorDash and Caviar – which unlocks $0 delivery fees and lower service fees on eligible orders for a minimum of one year when you activate by December 31, 2024. With DashPass you also get $5 in DoorDash credits each month, redeemed at checkout.
- Be protected with travel insurance including Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- You will pay no foreign transaction fees when you use your card for purchases made outside the United States.

- Receive a 25% boost to point value when you redeem your points through Chase Ultimate Rewards (1.25 cents per point).
- Receive a $50 hotel credit every cardmember anniversary that can be used towards hotel stays booked through the Chase Ultimate Rewards Travel portal.
- Every cardmember anniversary you'll receive 10% bonus points based on how much you spent on the card the prior cardmember year. This bonus does not include the category bonus multipliers.
Rewards Value

Redemption Option | Average Value (in cents) |
---|---|
Point transfers to airline and hotel partners | 0.6 - 2.1 |
Booking travel through Chase Ultimate Rewards using the Chase Sapphire Reserve | 1.5 |
Pay Yourself Back using the Chase Sapphire Reserve | 1.5 |
Redeeming points for cash back | 1 |
Redeeming points for gift cards | 1 |
Using points for Amazon.com purchases | 0.8 |
Ultimate Rewards points earned with the Chase Sapphire Reserve can be redeemed for a value of 1.5 cents each towards travel booked through Chase Ultimate Rewards. You can also obtain higher values transferring points to Chase's airline and hotel partners.

Redemption Option | Average Value (in cents) |
---|---|
Point transfers to airline and hotel partners | 0.6 - 2.1 |
Booking travel through Chase Ultimate Rewards using the Chase Sapphire Preferred | 1.25 |
Pay Yourself Back using the Chase Sapphire Preferred | 1.25 |
Redeeming points for cash back | 1 |
Redeeming points for gift cards | 1 |
Using points for Amazon.com purchases | 0.8 |
Ultimate Rewards points earned with the Chase Sapphire Preferred card can be redeemed for 1.25 cents towards travel booked through Chase Ultimate Rewards. Points can also be transferred to Chase's airline and hotel partners to obtain higher value.
Transfer Partners
The Chase Sapphire Reserve and Chase Sapphire Preferred grants access to the same transfer partners. This is typically the best use of Ultimate Rewards points and give you as much as 2 cents per point in value (hint: World of Hyatt).
If you plan on mostly transferring points to partners, you'll want to side with the card that earns you the most points. Don't forget that you can pair the Sapphire credit cards with Chase's cash back credit cards (e.g. Chase Freedom Flex℠, Chase Freedom Unlimited®) to maximize your earnings.
Annual Fees

The Chase Sapphire Reserve has an annual fee of $550. Additional users can be added for an annual fee of $75 per additional card.
You can offset a big chunk of the annual fee with the $300 in annual statement credits. If you spend moderately on the card and make use of the lounge access, it won't take long to make up for the annual fee especially with points being worth a minimum of 1.5 cents each towards travel.

The Chase Sapphire Preferred Card has an annual fee of $95. The 10% anniversary bonus points, $50 hotel credit, and boost to point value via Chase Ultimate Rewards will offer exceptional value each year and will make up for the card's annual fee.
Card Value Calculator
Calculate how many points you can earn with the Chase Sapphire Reserve and Chase Sapphire Preferred side by side based on your spend. Calculate the average cash value of the points, the transfer of points to partners, and the cash value of each card.
We've run the calculations for you and here are our top picks for best credit cards of 2023:
- Best premium card for unlimited miles: Capital One Venture X Rewards Credit Card.
- Best for flexible travel rewards: Chase Sapphire Preferred® Card.
- Best for everyday spend and travel: Citi Premier® Card.
- Best cash back card for groceries: Blue Cash Preferred® Card from American Express.
- Best for dining and supermarkets: American Express® Gold Card
- Best for business travel rewards: Ink Business Preferred® Credit Card.
- Best cash back business card: Capital One Spark Cash Plus
Our Credit Card Rewards calculator can help you find the perfect card and offers based on your monthly and yearly spending habits. Simply enter your spend amounts into our tool and let us do the work for you!