What To Know
- Earn 2x points on the Preferred card and 3x points on the Reserve card for dining, travel, and streaming.
- Take advantage of the $300 annual travel credit on the Reserve card and the 2x points on the Preferred card for travel purchases.
- Can I use the $300 travel credit on the Reserve card for flights booked with the Preferred card.
Yes, you can simultaneously hold both the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve®. This dynamic duo offers a unique combination of benefits that cater to different spending habits and travel preferences, providing a comprehensive rewards ecosystem.
Benefits of the Chase Sapphire Preferred Card
- Sign-up bonus: Earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months.
- 2x points: Earn 2x points on dining, travel, and select streaming services.
- 1:1 transfer ratio: Transfer points to 13 different travel partners, including United Airlines, Southwest Airlines, and Hyatt.
- Annual fee: $95
Benefits of the Chase Sapphire Reserve Card
- Sign-up bonus: Earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months.
- 3x points: Earn 3x points on dining, travel, and select streaming services.
- 1:1 transfer ratio: Transfer points to 13 different travel partners, including United Airlines, Southwest Airlines, and Hyatt.
- $300 annual travel credit: Reimbursement for travel-related purchases, such as flights, hotels, and rental cars.
- Priority Pass Select membership: Access to 1,300+ airport lounges worldwide.
- Global Entry/TSA PreCheck credit: Reimbursement for application fees every four years.
- Annual fee: $550
Combining the Power
By wielding both cards, you can maximize your rewards earning potential and unlock exclusive benefits:
- Enhanced point accumulation: Earn 2x points on the Preferred card and 3x points on the Reserve card for dining, travel, and streaming. This can significantly boost your point balance.
- Flexible redemption options: Transfer points to 13 travel partners from both cards, giving you a wider range of redemption choices.
- Double-dip on travel benefits: Take advantage of the $300 annual travel credit on the Reserve card and the 2x points on the Preferred card for travel purchases.
- Lounge access and elite status: Enjoy Priority Pass Select membership with the Reserve card and pursue elite status with the Preferred card’s airline and hotel partners.
Drawbacks and Considerations
- Annual fees: Both cards have annual fees, so you’ll need to factor these costs into your decision.
- Spending requirements: Meeting the spending requirements for both sign-up bonuses can be challenging.
- Credit score: You’ll need a good to excellent credit score (generally 700+) to qualify for both cards.
Who Should Consider Both Cards?
The Chase Sapphire Preferred and Reserve cards are ideal for:
- Frequent travelers who spend heavily on dining, travel, and streaming.
- Individuals who value lounge access and travel perks.
- Those looking to maximize their rewards earning and redemption options.
How to Apply for Both Cards
You can apply for both cards online or through a Chase branch. However, it’s recommended to apply for the Preferred card first, as it has a lower annual fee and easier approval criteria. Once you’re approved for the Preferred card, you can wait 48 months before applying for the Reserve card to avoid the Chase 5/24 rule.
Final Note: Maximizing Rewards and Travel Perks
The Chase Sapphire Preferred and Reserve cards offer a powerful combination of rewards, benefits, and travel perks. By simultaneously holding both cards, you can unlock a comprehensive rewards ecosystem that caters to your spending habits and travel preferences. However, carefully consider the annual fees and spending requirements before making a decision.
Questions We Hear a Lot
1. Can I transfer points between the Preferred and Reserve cards?
No, you cannot transfer points between the two cards.
2. Do the annual fees for both cards post at the same time?
No, the annual fees for the two cards post on different dates.
3. Can I use the $300 travel credit on the Reserve card for flights booked with the Preferred card?
No, the $300 travel credit can only be used for travel-related purchases made with the Reserve card.
