Chase Sapphire Cardholders Weigh Benefits of Holding Both Preferred and Reserve

Chase Sapphire cardholders are evaluating whether to maintain both the Preferred and Reserve credit cards to maximize travel rewards and bonus categories.

This strategy allows users to leverage distinct benefits and higher point accumulation rates across different spending categories. Because the cards offer different perks, holding both can potentially offset the combined cost of their annual fees through increased rewards.

The Chase Sapphire Preferred currently features a 100,000-point welcome offer ^[1]. This incentive, combined with specific bonus categories, creates a scenario where existing Reserve cardholders may find value in adding the Preferred card to their wallet.

"The Chase Sapphire Preferred’s new bonus categories and 100,000-point offer make a compelling case for Sapphire Reserve cardholders to carry both cards," The Points Guy editorial said ^[1].

However, the cost of maintaining both accounts is significant. The Chase Sapphire Reserve carries an annual fee of $795 ^[3], while the Chase Sapphire Preferred costs $95 per year ^[4]. The decision to hold both depends on whether the user's travel spending and reward redemption through Chase Travel justify the combined expense.

"One card costs $95 a year, the other costs $795 a year. Either could make sense, depending on how you value the benefits," CNBC Select said ^[4].

Users must balance the higher fee of the Reserve against its updated benefits and the Preferred's lower entry cost. The ability to pool points and access diverse bonus categories remains the primary driver for those opting for a dual-card strategy.