The (see rates and fees) has a strong reputation — and for good reason. With high earning rates, benefits that easily outweigh its $95 annual fee and access to Chase’s transfer partners, it’s easy to see why this card is a great fit for both beginners and die-hard points and miles enthusiasts alike.
This card received a refresh in June. While one change might’ve disappointed Hyatt fans, many cardholders came out ahead thanks to the added perks and bonus categories.
That said, no card is a perfect fit for everyone. If you’re looking for lounge access, elite status or high earning rates on general travel purchases, another card may be a better option. The Sapphire Preferred works best in the hands of flexible travelers who want an easy card to maximize. Card rating*: ⭐⭐⭐⭐½
*Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.
Chase Sapphire Preferred: The basics
If you’re a prospective cardholder, you’ll want to take note of these perks in particular when trying to decide if this card is worth it:
- Up to $100 statement credit each year for prepaid hotel bookings made through Chase Travel℠
- Statement credit for Global Entry, TSA PreCheck or Nexus (every four years)
- Complimentary Apple TV subscription for one year (activate by Dec. 31)
- Complimentary DoorDash DashPass membership (valued at $120 each year; through Dec. 31, 2029; activation required)
- $10 DoorDash credit each month for non-restaurant orders for DashPass members (alcohol orders may be exempt; through Dec. 31, 2029)
- Bonus rewards on popular categories including gas, electic vehicle charging and select vacation homes
- Access to Chase’s 14 transfer partners, including popular options like Air Canada Aeroplan, United Airlines and World of Hyatt
Related: Chase Sapphire Preferred statement credits: What they are and how to use them
Chase Sapphire Preferred pros and cons
| Pros | Cons |
|---|---|
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Chase Sapphire Preferred benefits
The ‘s hotel credit can cover the card’s $95 annual fee on its own if you use the full $100 on a stay you would have booked anyway.
Compare the Chase Travel rate with the price of booking directly before you pay. (The first $100 in eligible Chase Travel hotel purchases each account anniversary year does not earn points.)
Maximizing this credit will, on its own, put you $5 in the green against the Sapphire Preferred’s annual fee.
When former TPG credit cards writer Augusta Stone used this credit, she effectively paid just $35 for a night away at the Atlanta Marriott Alpharetta.
The card also reimburses one Global Entry, TSA PreCheck or Nexus application fee, up to $120 (every four years). Charge the eligible fee to the card to receive the statement credit. If you already have a membership, you can use the credit to pay an eligible application fee for someone else. I recommend Global Entry if you travel internationally because it includes TSA PreCheck benefits.
It’s worth noting that the Sapphire Preferred is one of the few cards with a sub-$100 annual fee to offer this benefit.
Primary cardholders can also get at least 12 months of complimentary Apple TV (by activating the offer through Chase by Dec. 31). Apple TV costs either $14.99 per month or $119 for the annual plan, so either way, you’re saving a lot of money with this perk. Be sure to activate it soon, since you only have until the end of 2026.
How to earn and use your rewards
Earning rewards
With the , you’ll earn Ultimate Rewards points at the following rates:
- 5 points per dollar on all Chase Travel purchases, including flights, hotels, rental cars, vacation homes, cruises, activities and tours
- 5 points per dollar spent on Lyft rides (through Sept. 30, 2027)
- 5 points per dollar spent on eligible Peloton equipment and accessory purchases over $150 (through Dec. 31, 2027; limit of 25,000 bonus points)
- 3 points per dollar spent on gas and EV charging
- 3 points per dollar spent on vacation homes (at these top brands: Airbnb, Vrbo, Plum Guide, HomeAway, Homestay.com and Vacasa)
- 3 points per dollar spent on dining, online groceries* and streaming services
- 2 points per dollar spent on all other travel
- 1 point per dollar spent on all other purchases
*Excludes Target, Walmart and wholesale clubs
TPG credit cards writer Stephanie Stevens calls out the vacation homes category as a big plus for her. She’s booked over 60 Airbnbs, so there’s plenty of opportunity for her to earn lots of bonus points with this category.
I live in Portland, Oregon, a city with a strong mass transit system (by U.S. standards). That means I often swipe my Sapphire Preferred for transit tickets, so I’m glad that this card’s general travel rewards category is broadly defined.
My main criticism of the Sapphire Preferred’s earning categories is that its grocery category is restricted to online orders only. Walmart, Target and wholesale stores are also excluded from this category, which is a major downside for me as a frequent Walmart shopper. Still, this is a relatively minor critique given that the card’s overall earning structure is very strong for a $95 annual fee.
Redeeming rewards
You can redeem Ultimate Rewards points for a variety of options, including statement credits, gift cards, Amazon.com purchases and travel booked through Chase Travel.
The includes access to Chase’s Points Boost feature, which means you can redeem your points for up to 1.75 cents per point (depending on the redemption). While Points Boost can offer solid value in the right circumstances, I generally prefer transferring my points to Chase’s airline and hotel partners, where I can often get significantly more value.
Speaking of transferring points, Chase offers 14 transfer partners, including World of Hyatt, United MileagePlus, Air Canada Aeroplan and Air France-KLM Flying Blue.
Personally, I transfer most of my Ultimate Rewards points to World of Hyatt. Last year, I transferred 87,500 Ultimate Rewards points to Hyatt to book 10 nights at different hotels across Germany, easily saving me hundreds of dollars. (Note that the number of points you’d need to replicate this strategy would be higher by default with the updated 4:3 transfer ratio.)
Despite the unfavorable transfer ratio, Hyatt is still a compelling transfer partner thanks to its fixed award chart pricing. And with a deep roster of airline and hotel partners, Chase still offers plenty of opportunities for valuable redemptions with other partners.
For example, TPG’s managing editor for credit cards, Giselle Gomez, transferred 22,000 Ultimate Rewards points to Air France-KLM Flying Blue for a one-way flight between Miami International Airport (MIA) and Charles de Gaulle Airport (CDG). Thanks to a 20% transfer bonus, she was able to save 3,000 points. This ticket would’ve cost $1,504 without points, so after accounting for $139 in taxes and fees, she received a phenomenal over 6 cents per point in value.
How much are Chase points worth?
To wrap up, here is a summary of the value you can get from your Chase Ultimate Rewards points with this card:
| Cash/statement credit | Chase Travel portal | Transfer partners |
|---|---|---|
| 1 cent per point or less | Up to 1.75 cents per point, depending on the redemption | 2.05 cents per point**, or potentially more, depending on the redemption |
**According to TPG’s November 2026 valuations.
Related: How much are Chase Ultimate Rewards points worth?
Potential drawbacks of the Chase Sapphire Preferred
The is one of the best travel rewards cards for its annual fee, but it isn’t the right fit for everyone.
Getting the most from the Sapphire Preferred means tracking bonus categories, statement credits and partner perks. If you prefer a card that earns the same rate on every purchase, this setup may feel like more work than it’s worth.
This card provides the most value to people who travel regularly and redeem their rewards for travel. While Ultimate Rewards points can be redeemed for cash back, higher value comes from booking travel through the Chase Travel portal or transferring points to airline and hotel partners. If you don’t expect to use either strategy, the Sapphire Preferred may be harder to justify.
The Sapphire Preferred is undoubtedly one of the strongest mid-tier cards, but as with any other card, it’s important to make sure it fits your lifestyle and travel needs.
Sapphire Preferred vs. Sapphire Reserve
The ‘s equally well-known older sibling is the (see rates and fees). This card charges a substantially higher $795 annual fee, but comes with a much wider array of perks, including:
- Up to $500 each year in credits for The Edit hotel stays (two up to $250 credits; minimum two- or four-night stay required for hotels and vacation rentals, respectively; must be prepaid)
- Up to $300 flexible travel credit
- Up to $420 each year in DoorDash credits (given as up to $35 monthly for non-restaurant orders; through Dec. 31, 2029)
- Priority Pass and Sapphire lounge access
- IHG One Rewards Platinum Elite status (through Dec. 31, 2027)
- Higher earning rates on select travel purchases
Sapphire Reserve cardholders can transfer Ultimate Rewards points to World of Hyatt at a better 1:1 ratio, compared with 4:3 on the Sapphire Preferred. If you regularly book Hyatt award stays, factor in the value of those extra points alongside the Reserve’s other benefits when weighing its $795 annual fee.
To learn more, check out our showdown between the Sapphire Reserve and Sapphire Preferred.
When to apply for the Sapphire Preferred
Right now, new cardholders can earn 75,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
According to TPG’s valuations, that welcome offer is worth $1,538.
Keep in mind that you must be under 5/24 to be approved for the Sapphire Preferred. If you currently hold the Sapphire Preferred, previously held it or earned a welcome bonus on it in the past, you more than likely will not be eligible to earn another welcome bonus.
Who should get the Sapphire Preferred?
Get the if:
- You’re a beginner looking to earn travel rewards.
- You don’t value airport lounge access.
- You don’t currently have a card that earns Ultimate Rewards points.
- You’re looking for a good first card with an annual fee.
Skip it if:
- You’ve already earned a Sapphire Preferred welcome bonus.
- You’d get more value out of a premium Ultimate Rewards card.
- You don’t fly or stay often with Chase’s transfer partners.
- You’re focused on building your credit.
Related: Who should (and shouldn’t) get the Chase Sapphire Preferred?
Other cards to consider if you don’t want the Sapphire Preferred
If the isn’t a match for what you’re looking for, consider one of these options instead:
- If you want a card with simpler rewards: The Capital One Venture Rewards Credit Card is a simpler alternative to the Sapphire Preferred and has the same $95 annual fee. It earns 5 miles per dollar spent on hotels, vacation rentals and rental cars booked through Capital One Travel, plus 2 miles per dollar spent on all other purchases. To learn more, check out our full review of the Venture Rewards.
- If you want premium perks for an affordable price: The Capital One Venture X Rewards Credit Card is a great option to consider if the Sapphire Reserve is too expensive for you, but you still want more premium perks than the Sapphire Preferred offers. For a $395 annual fee, you’ll receive lounge access, an annual $300 statement credit for Capital One Travel and anniversary bonus miles. To learn more, check out our full review of the Venture X.
- If you want more flexible transfer partners: The ($95 annual fee; see rates and fees) is a great option for travelers who value flexible rewards, including the ability to transfer to World of Hyatt. To learn more, check out our full review of the Bilt Obsidian Card.
For additional options, check out our picks for the best travel cards.
Bottom line
The Chase Sapphire Preferred is a strong choice if you want flexible travel rewards, useful travel protections and bonus points on everyday purchases for a $95 annual fee.
The card makes the most sense if you can use the Chase Travel hotel credit and redeem points for trips you would otherwise pay for. If Hyatt is your main transfer partner, factor the 4:3 ratio into the cost of your awards before deciding.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: thepointsguy.com
