I liked my Chase Sapphire Reserve®‘s benefits, including lounge access, travel protections and numerous statement credits — but the annual fee became tough to justify after it increased to $795. Therefore, I downgraded it to a no-annual-fee Chase Freedom Unlimited®.
[Read: Travel Credit Cards]
Too many benefits overlapped with other cards in my wallet, and I wasn’t using enough of them to offset the annual fee. For example, I struggled to find ways to use The Edit hotel credit, finding it restrictive because it only works at limited luxury hotels and requires a two-night stay.
Why the Chase Sapphire Preferred® Card Fits Better
The Chase Sapphire Preferred® Card has long appealed to me for its value and practicality. It has many of the benefits I cared about most with the Chase Sapphire Reserve®, including access to Chase transfer partners and primary rental car coverage — but with a significantly lower $95 annual fee.
[Read: Rewards Credit Cards]
When I downgraded my Chase Sapphire Reserve®, I knew I’d want to open a Chase Sapphire Preferred® Card when a good welcome offer came around. I found the offer I was looking for with the Chase Sapphire Preferred® Card’s recent refresh that increased the sign-up bonus to 100,000 points after you spend $5,000 on purchases in the first 3 months from account opening.
The refresh improved the card’s rewards and benefits without raising the annual fee — and an already good card became better aligned with my lifestyle. I was glad to see improvements that fit my spending, including a straightforward $100 annual Chase Travel? hotel credit (up from $50) and three points per dollar on EV charging, gas and online groceries.
Why the Math Works for Me
The Chase Sapphire Preferred® Card doesn’t need to replace every benefit I lost from the Chase Sapphire Reserve®. I don’t need it for lounge access, statement credits or other benefits I get from other premium cards in my wallet.
What I do need is a travel card with access to Chase transfer partners, primary rental car coverage, useful travel protections and bonus categories that fit my spending. The Chase Sapphire Preferred® Card does that — and the $100 annual Chase Travel hotel credit alone can offset the card’s annual fee.
More from U.S. News
Is the New Chase Disney Credit Card the Best for Your Summer Disney Plans?
Limited-Time BP Card Offer Can Save You 50 Cents per Gallon This Summer
Are You 25 to 40? Here’s the Best Credit Card Strategy for You
Why I Opened a Chase Sapphire Preferred After Downgrading My Sapphire Reserve originally appeared on usnews.com
