What To Know
- If you’re not sure if you’ll be able to justify the higher annual fee of the Sapphire Reserve, it may be better to start with the Sapphire Preferred.
- If you have a lower credit score, you may want to start with the Sapphire Preferred and work your way up to the Sapphire Reserve once you’ve improved your credit.
The Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® are two of the most popular premium travel credit cards on the market. Both cards offer a generous welcome bonus, valuable rewards, and excellent travel benefits. However, there is one key difference between the two cards: the annual fee. The Sapphire Reserve has a $550 annual fee, while the Sapphire Preferred has a $95 annual fee.
This difference in annual fees has led to some confusion among consumers about whether or not they can have both cards at the same time. The answer is yes, you can have both the Chase Sapphire Preferred and Reserve at the same time. However, there are some important things to consider before applying for both cards.
Key Considerations Before Applying for Both Cards
1. Annual Fees
The first thing to consider is the annual fees for both cards. The Sapphire Reserve has a $550 annual fee, while the Sapphire Preferred has a $95 annual fee. If you’re not sure if you’ll be able to justify the higher annual fee of the Sapphire Reserve, it may be better to start with the Sapphire Preferred. You can always upgrade to the Sapphire Reserve later if you decide you want the additional benefits.
2. Benefits
The Sapphire Reserve offers a number of benefits that the Sapphire Preferred does not, including:
- A higher welcome bonus (60,000 points vs. 50,000 points)
- A higher earning rate on dining and travel (3x points vs. 2x points)
- A $300 annual travel credit
- Complimentary airport lounge access
- Trip delay and cancellation insurance
- Lost luggage reimbursement
If you travel frequently and are looking for a card with the best possible benefits, the Sapphire Reserve is the better choice. However, if you’re on a budget or don’t travel as often, the Sapphire Preferred may be a better fit.
3. Credit Score
Both the Sapphire Preferred and Reserve require a good to excellent credit score to qualify. If you have a lower credit score, you may want to start with the Sapphire Preferred and work your way up to the Sapphire Reserve once you’ve improved your credit.
How to Apply for Both Cards
If you decide that you want to apply for both the Chase Sapphire Preferred and Reserve, you can do so online or by phone. The application process is similar for both cards. You’ll need to provide your personal information, financial information, and employment information.
Once you’ve submitted your application, Chase will review your information and make a decision. If you’re approved, you’ll receive your new card in the mail within 7-10 business days.
Maximizing Your Rewards
If you have both the Chase Sapphire Preferred and Reserve, there are a few things you can do to maximize your rewards:
- Use the Sapphire Reserve for travel and dining expenses. You’ll earn 3x points on these purchases, which is more than you’ll earn with any other card.
- Use the Sapphire Preferred for everyday purchases. You’ll earn 2x points on these purchases, which is still a great earning rate.
- Redeem your points for travel. This is the best way to get the most value out of your points. You can redeem your points for flights, hotels, cruises, and other travel expenses.
Final Note: Can You Have Both?
Yes, you can have both the Chase Sapphire Preferred and Reserve at the same time. However, there are some important things to consider before applying for both cards. If you’re not sure if you’ll be able to justify the higher annual fee of the Sapphire Reserve, it may be better to start with the Sapphire Preferred. You can always upgrade to the Sapphire Reserve later if you decide you want the additional benefits.
What You Need to Learn
Can I have both the Chase Sapphire Preferred and Reserve at the same time?
Yes, you can have both the Chase Sapphire Preferred and Reserve at the same time. However, there are some important things to consider before applying for both cards.
What are the benefits of having both cards?
Having both the Chase Sapphire Preferred and Reserve gives you access to a wider range of benefits, including:
- A higher welcome bonus (60,000 points vs. 50,000 points)
- A higher earning rate on dining and travel (3x points vs. 2x points)
- A $300 annual travel credit
- Complimentary airport lounge access
- Trip delay and cancellation insurance
- Lost luggage reimbursement
Which card is better for me?
The best card for you depends on your individual needs and spending habits. If you travel frequently and are looking for a card with the best possible benefits, the Sapphire Reserve is the better choice. However, if you’re on a budget or don’t travel as often, the Sapphire Preferred may be a better fit.
