For many frugal travelers, the Chase Sapphire Reserve changed the points and miles game entirely. With a very generous introduction offer and arguably better benefits than other premium rewards cards, this card appeared to be the rewards card people not only wanted, but expected when Chase entered the luxury card market.
However, with great benefits comes great limitations. Effective at the beginning of August, forum members at our sister site FlyerTalk discovered that their opportunities to earn sign-up bonuses will be limited so long as they hold at least one Sapphire product. According to newly discovered terms: those who hold a Sapphire product cannot earn the bonus from another Sapphire product for two years from the date they closed their card. Moreover, those who have one Sapphire product will not be able to get another so long as they hold an active card.
The limitations put a strain on those who already hold the Chase Sapphire Preferred but not the Chase Sapphire Reserve and did not already apply for the new card. When it comes time to decide, which is the best Sapphire to hold? Let’s take a closer look at both cards to determine which is worth holding for the long run.
Chase Sapphire Preferred: Everyday spending for everyday travelers
For years, the Chase Sapphire Preferred was the standard bearer among the Chase credit card lineup. For $95 every year, those who qualified could earn double Ultimate Rewards points on travel and dining purchases, with single points on everything else.
In addition, the card came with a number of additional benefits that gave the card incredible value over time. Ultimate Rewards points hold tremendous value towards frugal travel, either through transferring to a number of partners, or using them directly through the booking portal. The card also comes with travel insurance benefits as well, including primary rental car insurance.
Chase Sapphire Reserve: High end bonus for luxury travelers
Introduced in 2016, the Chase Sapphire Reserve was targeted towards luxury travelers who wanted more out of their spending. The card became so popular, Chase actually ran out of metal cards for the first round of cardholders!
At the $450 annual fee, the card comes with a $300 travel credit valid for any travel purchases, along with bigger Ultimate Rewards bonus categories. Travelers earn triple Ultimate Rewards points on travel and dining worldwide and single points on everything else. Those who use those rewards through the Ultimate Rewards portal can get 50 percent more value on their redemption – meaning 50,000 Ultimate Rewards points could translate to $750 in travel.
Which card is best?
When it comes to getting the most value, the Chase Sapphire Reserve offers a lot of value for frugal travelers. Despite the high annual fee, the card offers the opportunity to see the world through their regular spending, with access to some of the best amenities in the world.
However, to get the value out of the card, travelers must be able to justify the high annual fee. For those who don’t plan big trips or don’t plan on using their Sapphire as their primary card, the Sapphire Reserve may not the best choice. At a lower fee with similar benefits, the Sapphire Preferred may be the best mid-tier card available for the price.
As with any product, your experience may vary. By doing the research and determining which card makes sense, everyone can make the most of their spending – even if they are limited to one Sapphire card.
Which Sapphire card is staying in your wallet? Let us know your thoughts on the “One Sapphire” rule in the comments below!
Written by Frugal Travel Guy @ https://www.frugaltravelguy.com
Written by Frugal Travel Guy @ https://www.frugaltravelguy.com