Why I Pay for Both Chase Sapphire Reserve and Preferred Cards

I’m guilty of having too many premium travel rewards cards. When the annual fees hit, I scramble to analyze whether I’m receiving enough benefits from each card to renew.

That was the case with my Chase Sapphire Reserve® I’ve held for several years. When it was time to renew the card (and pay the $795 annual fee), I considered canceling or downgrading it to a Chase card with a lower or no annual fee.

In the end, I decided to keep my Chase Sapphire Reserve card and apply for the Chase Sapphire Preferred® Card. Here’s why.

Why the Chase Sapphire Reserve Card Is Worth Keeping

While it was tough paying the $795 annual fee, the numbers didn’t lie when I added up the value I received from my Chase Sapphire Reserve card:

• $300 annual travel statement credit (of up to $300 in annual statement credits)
• $250 in hotel statement credits for a hotel reservation via The Edit by Chase Travel (of the up to $500 in annual statement credits available), plus hotel benefits worth $100 or more
• $250 hotel-brand credit (of up to $250 statement credits available in 2026)
• 8 visits to Chase Sapphire Lounge by The Club locations and Priority Pass lounges
• $300 in dining credits (out of up to $300 available each year)
• $210 in DoorDash credits (of up to $300 available each year)
• $150 StubHub credit (out of up to $300 each year)

The list adds up to more than $1,500 in value I received with the card. The list doesn’t take into account the value of transferring my points to World of Hyatt at a 1:1 ratio or the value I received using Points Boost redemptions at up to 2.5 cents per point.

I also found a lot of value in earning 8x points on travel booked with Chase Travel and 4x points on flights and hotels booked directly. From a redemption perspective, I have Ultimate Rewards points with my Chase Sapphire Reserve card that are worth an elevated 1.5 cents each when redeemed for travel through Chase Travel.

My main objective was to receive more value than the annual fee, and I successfully accomplished that.

I Was Lured by Chase Sapphire Preferred’s 100K Welcome Offer

In a somewhat recent change, Chase now allows you to hold both Sapphire cards. If I downgraded my Chase Sapphire Reserve card to the Chase Sapphire Preferred card, I wouldn’t be eligible for its all-time best 100,000-point welcome offer.

The Chase Sapphire Preferred card is known as a solid travel rewards card offering value far beyond its lower $95 annual fee. Since I had never applied for the card, I decided to do so — and was approved.

After meeting the minimum spending requirement, I received a generous haul of 100,000 points.

Hot Tip:

Why the Chase Sapphire Preferred Card Is Worth Keeping

I don’t apply for cards strictly for the welcome offer, as I prefer to continue receiving value while holding on to the card for the long term.

Thankfully, the Chase Sapphire Preferred card already has a leg up on the Chase Sapphire Reserve card with its ability to earn 3x points on streaming services, gas, and online groceries. That said, I don’t plan to use the 3x rate on EV charging and vacation homes, or the 5x points on travel on Chase Travel, since my Chase Sapphire Reserve card earns 8x points on travel on Chase Travel.

The Chase Sapphire Preferred card delivers more than $200 in direct value for me with these 2 statement credit benefits:

• Up to $100 annual hotel statement credit when booking a prepaid stay through Chase Travel
• Up to $10 each month in DoorDash credits outside of restaurants

Does It Make Sense To Have Both Chase Sapphire Cards?

While it may seem like carrying both Chase Sapphire cards would create unnecessary overlap, I’ve found the opposite to be true. Their benefits complement one another, and because I travel frequently, I can easily justify paying nearly $900 in combined annual fees.

The Chase Sapphire Preferred card offers better points-earning potential on everyday purchases, while the Chase Sapphire Reserve card rewards generously on all things travel. Both cards also offer helpful statement credits that I regularly use while traveling. Plus, having the Chase Sapphire Reserve card instantly boosts the value of my points by unlocking better transfer rates to World of Hyatt (1:1 vs. 4:3) and a higher redemption rate on Chase Travel.

That said, there are a few new benefits on the Chase Sapphire Preferred card that I don’t plan to use, such as a complimentary year of Apple TV (worth $156; activate by December 31, 2026). I will also not be using the Global Entry or TSA PreCheck statement credit, as I have that benefit on several other cards.

Although the Chase Sapphire Preferred card has excellent travel insurance protections and benefits, I will probably continue to use my Chase Sapphire Reserve card for most flight purchases, as the card also has solid travel insurance benefits and earns well on direct flight purchases.

Bottom Line:

Final Thoughts

Keeping the Chase Sapphire Reserve card and applying for the Chase Sapphire Preferred card allowed me to earn a new welcome offer. I’ll also earn well in new categories and take advantage of the statement credits.

If I ever decide to cancel or downgrade my Chase Sapphire Reserve card, I’ll have excellent travel insurance benefits in place with my Chase Sapphire Preferred card. It was a win-win decision that worked out well for me.