Chase Sapphire Preferred® Card Review
The benchmark mid-tier travel card. Access to Chase Ultimate Rewards transfer partners at a reasonable $95 annual fee makes it the right starting point for most travelers — and the one we recommend most often.
At a glance
The Chase Sapphire Preferred is the most-recommended travel card in points and miles for a reason — it earns into Chase Ultimate Rewards, one of the two most valuable transferable points currencies, while keeping the annual fee approachable at $95.
For most travelers, this is the right card to anchor a points strategy. The welcome bonus alone is worth roughly $1,200 in travel through transfer partners like Hyatt and United, and the ongoing earning rates on dining and travel make it useful long after you’ve earned the bonus. If you can only carry one travel card, this is the one we’d carry.
Pros and cons
What we like
- Access to all 14 Chase Ultimate Rewards transfer partners — including Hyatt, United, and Southwest
- 60,000-point welcome bonus is worth ~$1,200 in transfer partner travel
- Reasonable $95 annual fee for the value delivered
- 3x points on dining and select streaming subscriptions
- Primary rental car collision damage waiver — rare on a mid-tier card
- Trip cancellation/interruption insurance up to $10,000 per person
- 10% anniversary points bonus on previous year’s spending
- No foreign transaction fees
- $50 annual Chase Travel hotel credit
What to consider
- Subject to Chase’s 5/24 rule — won’t be approved if you’ve opened 5+ cards in 24 months
- Earning rates outside bonus categories are 1x (lower than some competitors)
- No lounge access or status benefits
- $50 hotel credit only works through Chase Travel portal
- Annual fee not waived in year one
- Anniversary bonus tops out at meaningful value only for heavy spenders
Welcome bonus
New cardmembers earn 60,000 Chase Ultimate Rewards points after spending $4,000 in the first three months from account opening. This is the standard offer that’s been in place for most of the last few years — occasionally Chase runs elevated offers of 75,000 or 80,000 points, so it’s worth checking before you apply.
At our valuation of 2.0 cents per point when transferred to partners, the welcome bonus is worth approximately $1,200 in travel. Specific examples:
- 4 nights at a Park Hyatt (60K Hyatt points at Category 4 properties — same 1:1 transfer ratio)
- 1 one-way business class flight to Europe via Air Canada Aeroplan (60K is the Star Alliance partner rate)
- 2 round-trip economy flights within the U.S. using United MileagePlus
- $750 in travel if redeemed directly through Chase Travel℠ portal (1.25¢/point)
Hitting the $4,000 minimum spend is straightforward for most households — that’s roughly $1,333 per month, which covers normal categories like groceries, gas, dining, utilities, and any one-time large purchases. Our guide to hitting minimum spend walks through the tactics if it’s not naturally there.
Earning rates
The Sapphire Preferred earns Chase Ultimate Rewards points across a broad set of categories, with the highest rates concentrated on travel and dining.
| Category | Earning Rate |
|---|---|
| Travel booked through Chase Travel℠ Flights, hotels, rental cars, cruises | 5x |
| Dining Restaurants, takeout, eligible delivery | 3x |
| Online grocery purchases Excludes Walmart, Target, wholesale clubs | 3x |
| Select streaming services Disney+, Hulu, Netflix, Apple TV+, others | 3x |
| Other travel Airlines, hotels, rideshare booked directly | 2x |
| Everything else All non-bonus purchases | 1x |
The 5x travel rate is the standout — but it only applies when you book through the Chase Travel℠ portal. For travel booked directly with airlines or hotels (which is often necessary for status credit or refund flexibility), you’ll earn 2x.
The 1x base rate on non-bonus purchases is the card’s biggest weakness. If you spend heavily outside the bonus categories, pair the Sapphire Preferred with a no-annual-fee Chase Freedom Unlimited (which earns 1.5x on everything) and pool points into your Sapphire Preferred for transfers.
Benefits and perks
The Sapphire Preferred punches above its $95 annual fee on benefits — particularly travel insurance, which is unusually strong for a mid-tier card.
Trip cancellation & interruption insurance
Up to $10,000 per person, $20,000 per trip when you pay with the card. Covers unforeseen events like illness or severe weather.
Primary rental car collision damage waiver
Decline the rental company’s CDW and you’re covered primary — rare for a mid-tier card. Most cards offer only secondary coverage.
Trip delay reimbursement
Up to $500 per ticket if your common carrier travel is delayed more than 12 hours or requires an overnight stay.
Baggage delay insurance
Up to $100 per day for 5 days when checked baggage is delayed more than 6 hours.
$50 annual Chase Travel hotel credit
Used to book hotels through the Chase Travel portal. Effectively reduces the annual fee to $45 if you use it.
10% anniversary points bonus
10% bonus points on previous year’s purchases. Spend $30K/year and you’ll get an extra 3,000 points annually.
Complimentary DashPass
One year of DoorDash DashPass membership — free delivery on orders over $12. Activate by year-end of card opening.
Lyft 5x earning
5x points on Lyft rides through March 2027. Stacks with other promotions when paying with the card.
How to redeem your points
This is where the Sapphire Preferred earns its 5-star rating. Chase Ultimate Rewards points have multiple redemption paths, and the right one depends on what you’re booking.
Transfer to partners — best value (2.0¢ per point average)
Sapphire Preferred holders unlock the full Chase transfer partner network at a 1:1 ratio. The most useful partners for North American travelers:
- World of Hyatt — typically the best value transfer; Category 1 properties go for 3,500 points/night
- United MileagePlus — strong for domestic awards and Star Alliance partner business class
- Southwest Rapid Rewards — useful if you can earn the Companion Pass
- Air Canada Aeroplan — best way to book Star Alliance partner business class to Europe (60K one-way)
- British Airways Avios — short-haul partner flights at low mileage rates
- Air France/KLM Flying Blue — frequent promo awards to Europe
Book through Chase Travel℠ portal (1.25¢ per point)
When you book through Chase Travel℠, your points are worth 25% more — so 60,000 points become $750 in travel. Easier than transfer partners, lower ceiling on value. Best for routes where partner availability is scarce, or when you want a simple, no-search-required redemption.
Pay Yourself Back / Cash (1.0¢ per point)
Points can be redeemed as cash at 1¢ each. We almost never recommend this — you’re leaving 50%+ value on the table compared to transfer partners. Only use if you need cash flow and have no foreseeable travel needs.
Quick math: what’s the bonus actually worth?
The 60,000-point welcome bonus is worth different amounts depending on how you use it:
$600 if you redeem for cash · $750 via Chase Travel portal · $1,200 if transferred to Hyatt for hotel stays · $1,800+ if used for partner business class to Europe.
The whole reason to hold this card is the higher end of that range. Our award travel 101 guide walks through how to get there.
Does the annual fee make sense?
At $95 per year, the Sapphire Preferred is one of the easiest annual fees to justify in the travel card market. Here’s the math:
- $50 annual Chase Travel hotel credit — used once and the fee effectively drops to $45
- 10% anniversary bonus — even modest spending of $20K/year nets 2,000 points (~$40 value)
- Access to transfer partners — alone makes the card worth carrying vs. a no-fee Chase Freedom card
- Travel insurance — primary rental car coverage alone has saved most cardholders the equivalent of the fee multiple times over
For active travelers who’ll use the transfer partner access, the fee pays itself back in the first month most years. The card to graduate to — if you outgrow this one — is the Chase Sapphire Reserve ($795 fee, much more in benefits).
Who is this card for?
You’ll get value if you…
- Are starting your points-and-miles journey
- Want access to transfer partners without a high annual fee
- Travel at least 2-3 times per year
- Are under Chase’s 5/24 limit (fewer than 5 cards opened in past 24 months)
- Have good-to-excellent credit (670+)
- Spend at least $4,000 in 3 months to hit the welcome bonus
- Eat out or order in regularly (3x dining is meaningful)
- Drive rental cars and would value primary insurance coverage
You’ll get more value elsewhere if you…
- Are at or over Chase’s 5/24 limit — you’ll be denied
- Don’t travel and want straight cash back instead (try Chase Freedom Unlimited)
- Want premium perks like lounge access (look at the Sapphire Reserve or Amex Platinum)
- Spend mostly on groceries (Amex Gold’s 4x is stronger)
- Want to avoid annual fees entirely (Freedom Unlimited has no fee)
- Can’t pay your balance in full each month — interest negates the rewards
Alternatives to consider
If the Sapphire Preferred isn’t quite right, these three are the closest alternatives:
Chase Sapphire Reserve
Same transfer partners, premium perks added (lounge access, $300 travel credit, higher earning rates).
Capital One Venture X
Premium perks (Priority Pass, $300 travel credit, 10K anniversary points) at $395 — effective fee close to zero.
American Express Gold
4x at restaurants and U.S. supermarkets — stronger if your spending is dining-and-grocery heavy.
The most-recommended travel card for a reason
The Chase Sapphire Preferred earns its 5.0-star rating by being almost perfectly positioned in the credit card market. The annual fee is approachable enough that almost any traveler can justify it, the welcome bonus is generous, and access to Chase Ultimate Rewards transfer partners gives you the same redemption potential as cards costing five times as much.
It’s not the absolute best card on the market for every situation — premium cards offer more perks, dining-heavy spenders may prefer Amex Gold, and travelers who don’t want any annual fee should look at the Freedom Unlimited. But for the average traveler who wants real points value without committing $700+ a year, this is the card we’d carry — and it’s the one we recommend most often.
Frequently asked questions
Will I be approved for the Chase Sapphire Preferred?
Approval typically requires a credit score of 670 or higher and being under Chase’s 5/24 rule (fewer than 5 new credit card accounts opened in the past 24 months — across all issuers, not just Chase). Income, existing Chase relationships, and credit utilization also factor in. Our 5/24 guide covers the application strategy.
Can I get the Sapphire Preferred if I already had it before?
Yes, but with rules. You can earn the welcome bonus again on the Sapphire Preferred if you haven’t received a new cardmember bonus from any Sapphire card (Preferred or Reserve) in the past 48 months, AND you don’t currently hold either Sapphire card. The 48-month clock starts from when you earned the previous bonus.
Sapphire Preferred or Sapphire Reserve — which should I get?
For most people, the Preferred. The Reserve’s $795 fee only makes sense if you’ll actually use the lounge access, the $300 travel credit, and the higher 4x/8x earning rates enough to offset the fee. Light travelers and people new to points should start with the Preferred. We compare them in detail in our Reserve review.
Are Chase Ultimate Rewards points worth more than other rewards currencies?
They’re tied with American Express Membership Rewards as the most valuable transferable points currency — we value both at 2.0¢ per point when transferred strategically. Chase’s transfer partner list is smaller than Amex’s but includes Hyatt, which is the single most valuable hotel transfer in points and miles. See our complete Chase Ultimate Rewards guide for details.
How long does it take to earn the welcome bonus?
You need to spend $4,000 on purchases within 3 months of account opening. The bonus typically posts 6-8 weeks after you hit the spend requirement. For most households, the $4,000 minimum spend works out to about $1,333/month — usually achievable with regular spending without manufactured spend tactics.
Is the $95 annual fee worth it?
For active travelers, yes. The $50 hotel credit drops the effective fee to $45 the moment you use it. The transfer partner access alone is worth more than the fee for anyone who books award travel. The primary rental car insurance has saved many cardholders the equivalent of multiple years of annual fees in a single claim. The math holds up easily for most people who travel at all.