The most common Ultimate Rewards question: is the $700 annual-fee jump from the Sapphire Preferred ($95) to the Sapphire Reserve ($795, post-June-2025 refresh) worth it? Both transfer to the same partner roster — Hyatt and United are the standouts — but Chase's June 2026 refresh widened the gap: United still transfers 1:1 from both cards, while Hyatt dropped to a 4:3 ratio for the Preferred (new applicants immediately, existing cardholders Oct. 1, 2026) and stays 1:1 only on the Reserve. Layer that onto the Reserve's stack of semi-annual, category-locked credits and Priority Pass lounge access against the Preferred's much lower bar to break even.
Scored against our published methodology · Updated July 14, 2026
Take the 60-second quizMid-frequency travelers (4-8 trips/yr) who want Ultimate Rewards transfer-partner access without the Sapphire Reserve's $795 AF. United still transfers 1:1, and the June 2026 refresh added 3x on gas, EV charging, and vacation rentals plus a $100 annual Chase Travel hotel credit and a $120 TSA PreCheck/Global Entry credit every four years.
Find your matchFrequent travelers who will work the post-June-2025 credit stack: the $300 travel credit (auto-applies to any travel), up to $500 in 'The Edit' hotel credits, $300 Sapphire Exclusive Tables dining, $300 in StubHub/viagogo credits, ~$120 Peloton, plus Lyft and Apple perks, Priority Pass, and automatic IHG One Rewards Platinum status. At high utilization the $795 AF clears — and transferring Ultimate Rewards to Hyatt or United is the upside on top.
Find your matchBest for — by the numbers
Per-spec leads are computed from each issuer's published facts and our scored methodology — there is no single overall winner. Reviewed July 14, 2026. ClearValue Cards earns compensation through our CardRatings partnership, paid when a reader clicks out to CardRatings from our match tool, and through separately labeled, paid partner placements (marked "Advertiser Disclosure · Sponsored") that sit outside our card rankings. Neither compensation source influences editorial scoring or ordering.
| Spec | Chase Sapphire Preferred | Chase Sapphire Reserve |
|---|---|---|
| Annual fee | $95 | $795 |
| 0% intro APR period | None | None |
| Ongoing APR (from) | 19.24% | 19.49% |
| Foreign transaction fee | None | None |
| Rewards score | 17/20 | 17/20 |
| Fee-structure score | 16/20 | 11/20 |
| ClearValue score | 83/100 | 74/100 |
| Balance transfer fee | $5 or 5% | $5 or 5% |
| Late fee | Up to $40 | Up to $40 |
A check marks the card that leads that spec on published figures. Rows with no marker are either tied or judgment calls (fee wording, late-fee terms) where a single "winner" would misrepresent the data.
Tap the spec you care about — we'll show which card leads on it.
For Annual fee, the Chase Sapphire Preferred leads ($95).
Mid-frequency travelers (4-8 trips/yr) who won't chase a coupon-book of credits
At $95, the Preferred pays for itself with modest travel spend and no homework. The 25% Chase Travel portal boost gets you 1.25 cpp, and United still transfers 1:1 at the site's 1.5 cpp benchmark — but Hyatt transfers no longer match the Reserve's rate, since Chase cut the Preferred's Hyatt ratio to 4:3 in June 2026.
See your matchesFrequent travelers who will work the post-refresh credit stack and use the lounges
The $300 travel credit applies automatically to any travel purchase (no portal lock-in), and Priority Pass plus automatic IHG One Rewards Platinum status add real, frictionless value. But the up-to-$500 in hotel credits (The Edit), $300 dining credits (Sapphire Exclusive Tables), and $300 in StubHub/viagogo credits are narrow and semi-annual — the $795 fee only clears at high, disciplined utilization of that stack.
See your matchesLight travelers (under 4 trips/yr) or anyone who won't learn to use Hyatt/United transfer partners. At low travel volume, a $0-fee flat-rate cashback card returns more than either Sapphire's travel value, and neither fee is worth carrying just for the card in your wallet.
Weighing the numbers yourself? Run our free annual fee value calculator.
Answer a few questions about how you spend and we'll point you to the cards that actually fit — no guesswork.
Take the 60-second quizAnnual fee
Chase Sapphire Preferred: $95
Chase Sapphire Reserve: $795
Travel credit
Chase Sapphire Preferred: None — value comes from earning rate and portal boost, not a credit
Chase Sapphire Reserve: $300 on any travel purchase, applied automatically
Other credits
Chase Sapphire Preferred: None
Chase Sapphire Reserve: Up to $500 hotel credits (The Edit) + $300 dining (Exclusive Tables) + $300 StubHub/viagogo + ~$120 Peloton — each semi-annual and category-locked
Lounge access
Chase Sapphire Preferred: None
Chase Sapphire Reserve: Priority Pass, plus automatic IHG One Rewards Platinum status
Portal / transfer value
Chase Sapphire Preferred: 1.25 cpp through Chase Travel; United transfers 1:1, but Hyatt is now 4:3 (cut from 1:1 in June 2026)
Chase Sapphire Reserve: Same transfer partners as the Preferred (Hyatt, United, and more) — but Hyatt stays 1:1 on the Reserve
Effective fee after credits
Chase Sapphire Preferred: $95 flat — nothing to offset, nothing to track
Chase Sapphire Reserve: ~$495 after the $300 travel credit; the remaining $495 only clears if you capture the hotel/dining/event credit stack
Foreign transaction fee
Chase Sapphire Preferred: None
Chase Sapphire Reserve: None
Honest knock
Chase Sapphire Preferred: No lounge access and no credits, so its ceiling is lower than the Reserve's — it just costs a lot less to reach that ceiling
Chase Sapphire Reserve: The June 2025 refresh more than doubled the fee and the credit headline, but broke the credits into narrow semi-annual buckets most cardholders don't fully capture — score the $795 against realistic utilization, not the stated stack
Neither is universally better — it depends on how you spend. On our published 100-point methodology the Chase Sapphire Preferred scores 83/100 (Solid pick) and the Chase Sapphire Reserve scores 74/100 (Worth considering). Mid-frequency travelers (4-8 trips/yr) who won't chase a coupon-book of credits should lean Chase Sapphire Preferred; frequent travelers who will work the post-refresh credit stack and use the lounges should lean Chase Sapphire Reserve. Take the 60-second quiz to see which fits your profile.
The Chase Sapphire Preferred carries $95, sourced from the issuer's published Schumer Box as of July 14, 2026. The Chase Sapphire Reserve carries $795, as of July 14, 2026. Fees change — confirm the current number at the issuer before you decide.
Mid-frequency travelers (4-8 trips/yr) who won't chase a coupon-book of credits tend to do better with the Chase Sapphire Preferred; frequent travelers who will work the post-refresh credit stack and use the lounges with the Chase Sapphire Reserve. If neither describes you cleanly, take the 60-second quiz for a match.
We score every card across five dimensions — effective rewards, fee structure, audience fit, transparency, and the weakness named — 0–20 each for a 100-point total. The Chase Sapphire Preferred earned 83/100 and the Chase Sapphire Reserve earned 74/100. Scoring follows our published methodology and is never influenced by compensation.
Independent editorial comparison. ClearValue Cards is not a card issuer, a bank, or a lender. ClearValue Cards earns compensation through our CardRatings partnership, paid when a reader clicks out to CardRatings from our match tool, and through separately labeled, paid partner placements (marked "Advertiser Disclosure · Sponsored") that sit outside our card rankings. Neither compensation source influences editorial scoring or ordering. Card facts are sourced from each issuer's published Schumer Box and terms — confirm current numbers at the issuer. See disclosure.
