The Sapphire Card is a premium rewards card with an annual fee, designed for people who spend regularly and want to redeem points for travel or cash back
Chase offers two versions of the Sapphire card: the Sapphire Preferred and the Sapphire Reserve. Both earn rewards on dining, travel, and other purchases, but they differ in annual fee, rewards rates, and perks. The Sapphire Preferred costs $95 per year and earns 2 points per dollar on dining and travel. The Sapphire Reserve costs $550 per year and earns 3 points per dollar on those same categories, plus it includes travel credits and other benefits that may offset the higher fee.
Neither card is designed for people who carry a balance month to month — the annual fee and rewards structure assume you pay your full statement each month. If you're looking for a card with no annual fee, or if you don't spend much on dining and travel, a different card may make more sense for your situation.
Key Takeaways
- The Sapphire Preferred has a $95 annual fee and earns 2 points per dollar on dining and travel purchases, while the Sapphire Reserve has a $550 annual fee and earns 3 points per dollar in those categories.
- Both cards let you redeem points for travel bookings through Chase's portal, cash back, or transfers to airline and hotel partners, with different point values depending on how you redeem.
- The Sapphire Reserve includes a $300 annual travel credit and other perks like airport lounge access, which can reduce the true cost of the annual fee.
- You need good to excellent credit (typically a score of 670 or higher) to be considered for either card.
- The card charges interest on any balance you don't pay in full each month, so these cards work best for people who pay their statement in full.
How the Rewards Points Work
Both Sapphire cards use a points system where you earn rewards on every purchase, but the earning rate depends on what you buy. On dining and travel, you earn the higher rate (2 or 3 points per dollar, depending on which card). On everything else — groceries, gas, online shopping — you earn 1 point per dollar.
The points you earn don't expire as long as your account stays open. You can let them sit in your account and redeem them whenever you want. However, the value of those points depends on how you use them. If you redeem through Chase's travel portal, each point is typically worth about 1 cent. If you transfer points to an airline partner like United or Southwest, the value can be higher or lower depending on the airline and the specific flight you're booking.
Some people find that transferring points to airline partners gives them better value, especially if they fly regularly with one airline. Others prefer the simplicity of redeeming through the Chase portal or converting points to cash back. There's no single "best" way — it depends on your travel habits and how much you're willing to research redemption options.
Annual Fees and Whether They're Worth It
The Sapphire Preferred charges $95 per year with no credits or offsets. You pay this fee whether you use the card or not. To make the card worth the cost, you need to earn enough points to cover the fee and still come out ahead. If you spend $10,000 per year on dining and travel, you'd earn 20,000 points (at 2 points per dollar), which is worth roughly $200 when redeemed through the Chase portal — enough to cover the fee and pocket $105 in value.
The Sapphire Reserve's $550 annual fee is steeper, but it comes with a $300 annual travel credit that you can use on flights, hotels, rental cars, and some other travel expenses. This credit is automatic — you don't have to do anything to claim it. That brings the true cost down to $250 per year. The card also includes other perks like airport lounge access and trip delay reimbursement, which some people use regularly and others never touch. Whether the Reserve makes sense depends on whether you actually use the travel credit and how much you value the other perks.
If you don't spend much on dining and travel, or if you're not sure you'll use the travel credit on the Reserve, the Preferred is the safer choice. You can always upgrade to the Reserve later if your spending patterns change.
How to Open a Sapphire Account
You can open a Sapphire account online through Chase's website or by calling Chase directly at 1-800-935-9935. You'll need your Social Security number, date of birth, and current address. Chase will pull your credit report to check your credit score and history. Most people who are considered will know within seconds whether they're approved, denied, or pending a decision.
If you're approved, your card typically arrives within 7 to 10 business days. You can start using it for purchases right away once it arrives. Your first statement will show all the purchases you've made since the account opened, and you'll have a due date (usually about 21 days after the statement closes) to pay what you owe.
If you're denied, Chase will send you a letter explaining why. Common reasons include a credit score that's too low, too many recent credit inquiries, or a history of missed payments. You can reapply after several months if you've improved your credit situation, but explore multiple times in a short period can hurt your score further.
Credit Score and Income Requirements
Chase doesn't publish a minimum credit score for the Sapphire cards, but most people who are approved have a score of 670 or higher. If your score is below 650, approval is unlikely. If your score is between 650 and 670, approval is possible but not may provide.
Chase also considers your income and existing debts when deciding whether to approve you. They want to see that you have enough income to pay your bills on time. If you have a lot of existing credit card debt or recent missed payments, that can work against you even if your score is in the acceptable range.
If you don't meet the requirements for the Sapphire Preferred or Reserve, Chase offers other cards with lower credit requirements, such as the Chase Freedom Unlimited or Chase Freedom Flex. These cards have no annual fee and still earn rewards, though at lower rates than the Sapphire cards.
Interest Rates and Paying Your Balance
The Sapphire cards charge interest on any balance you don't pay in full by the due date. The interest rate (called the APR, or annual percentage rate) varies based on your credit score and current market conditions, but it typically ranges from 18% to 24% for most cardholders. This is much higher than the value you get from rewards, so carrying a balance will cost you money.
For example, if you charge $5,000 to your Sapphire card and only pay $1,000 by the due date, you'll owe interest on the remaining $4,000. At a 20% APR, that's about $67 in interest charges the first month alone. The rewards you earned on that $5,000 purchase (100 to 150 points, worth $1 to $1.50) won't come close to covering the interest you'll pay.
These cards work best if you pay your full statement balance each month. If you think you might carry a balance, a card with a lower or no annual fee is a better choice, because you'll spend less on interest and fees.
Comparing the Sapphire to Other Premium Cards
The Sapphire Preferred competes with cards like the American Express Gold Card and the Capital One Venture X. The Gold Card charges $250 per year and earns 4 points per dollar on dining and 4 points per dollar on flights booked directly with airlines (but only 1 point on other travel). The Venture X charges $395 per year and earns 2 points per dollar on all purchases, with a $300 annual travel credit similar to the Sapphire Reserve.
The main difference between these cards is which purchases earn the highest rewards and what perks come with the card. The Sapphire Preferred is simpler — it earns the same rate on all dining and travel, without requiring you to book directly with an airline. The Gold Card rewards you more if you eat out frequently and book flights directly, but less if you book hotels or rental cars. The Venture X is better if you want a flat 2 points per dollar on everything and value the travel credit.
Your choice depends on where you actually spend money. If you eat out a lot and travel frequently, the Sapphire Preferred or Gold Card might be better. If you want simplicity and a flat earning rate, the Venture X might appeal to you. Comparing your own spending to each card's earning structure is more useful than comparing the cards to each other in the abstract.
Frequently Asked Questions
Can I use the Sapphire card internationally?
Yes. The card works at merchants and ATMs outside the United States. Chase charges a 3% foreign transaction fee on purchases made outside the U.S., which is typical for most credit cards. Some premium cards waive this fee, but the Sapphire cards do not.
What happens if I miss a payment?
If you don't pay at least the minimum amount by the due date, Chase will report the missed payment to the credit bureaus, which will damage your credit score. You'll also owe a late fee (typically $25 to $40 for the first missed payment) and interest on your balance. Missing a payment can make it harder to get approved for credit in the future.
Can I downgrade from the Sapphire Reserve to the Sapphire Preferred?
Yes. You can call Chase and ask to downgrade your Reserve to a Preferred. This closes the Reserve account and opens a new Preferred account. You'll lose any points you had in the Reserve account, so downgrade only if you're sure you want to switch. Some people downgrade after a year or two if they decide the Reserve's annual fee isn't worth it.
Do I earn points on the annual fee itself?
No. The annual fee does not earn points. Only purchases earn rewards.
What if I close my account — do I lose my points?
If you close your Sapphire account, you have a limited time (usually 30 days) to redeem your remaining points before they're forfeited. After that, they're gone. So if you decide to close the account, redeem your points first.