Chase Sapphire Reserve® vs PayPal Cashback Mastercard
Side-by-side comparison
| Chase Sapphire Reserve® | PayPal Cashback Mastercard | |
|---|---|---|
| Annual fee | $795 | No annual fee |
| Welcome offer | 100,000 Ultimate Rewards® Points | No current offer |
| Dining | 3x | 1.5x |
| Groceries | 1x | 1.5x |
| Gas | 1x | 1.5x |
| Travel | 4x | 1.5x |
| Streaming | 1x | 1.5x |
| Everything else | 1x | 1.5x |
| Est. yearly rewards* | $406 | $437 |
| Points type | Transfers to airlines & hotels | Cash back only |
| Network | Visa | Mastercard |
*Estimated yearly rewards on typical household spending, every point valued at a flat 1 cent. Verified June 2026. See your own numbers in the calculator.
The verdict
On a typical year of household spending, the Chase Sapphire Reserve® earns about $406 a year in rewards and the PayPal Cashback Mastercard about $437, valuing every point at a flat 1 cent. The Chase Sapphire Reserve® charges $795, but carries about $2,108 in annual statement credits that offset it for anyone who uses them. The PayPal Cashback Mastercard has no annual fee, so its rewards are all profit. Counting rewards, fees, and any credits, the Chase Sapphire Reserve® delivers more total value, about $227 a year more for a typical spender, mostly because it earns more where you spend most, on travel and dining. The bigger difference is the ceiling: the Chase Sapphire Reserve® earns points you can move to travel partners for outsized value, while the PayPal Cashback Mastercard pays plain cash back. Favor the Chase Sapphire Reserve® if you will use travel transfers, the PayPal Cashback Mastercard if you want simplicity. On the sign-up bonus, the Chase Sapphire Reserve® currently has the larger welcome offer. A welcome bonus is a one-time event, so weigh it apart from the ongoing rewards.
Pick the Chase Sapphire Reserve® if your spending leans toward dining, travel. Pick the PayPal Cashback Mastercard if your spending leans toward groceries, gas, streaming.