One of the most popular travel rewards cards is the $95 annual fee Chase Sapphire Preferred® Card.. and for good reason! The card consistently offers an excellent welcome bonus, with rewards categories matching how many of us spend anyway. The perks are awesome, without requiring a spreadsheet to track the benefits. Plus, Chase Ultimate Rewards is a super lucrative rewards currency.
This post is my updated Chase Sapphire Preferred review, also reflecting the major refresh we saw to the card in June 2026, whereby several perks were changed. The Sapphire Preferred changed the rewards game when it debuted in 2009, and all these years later, it’s still one of the few cards that’s ideal for someone just getting started in miles and points. Many experienced points nerds consider this a wallet fixture as well.
Link: Learn more about the Chase Sapphire Preferred® Card
Chase Sapphire Preferred summary & key details for October 2026
Before diving into my full Chase Sapphire Preferred review, I want to highlight some of the top-level details of the card.
| Annual fee | $95 |
| Welcome offer | 75,000 Ultimate Rewards points after spending $5,000 within three months — worth $1,275 at my 1.7 cent valuation |
| Top earning rates | 5x points on Chase Travel℠ bookings; 3x points on dining, select streaming, online groceries, gas stations and EV charging, and select vacation rentals; 2x points on all other travel |
| Key credits | $100 annual Chase Travel hotel credit; up to $120 Global Entry, TSA PreCheck, or NEXUS credit once every four years |
| Key terms | No foreign transaction fees; free authorized users; welcome bonus is once per lifetime on this exact card |
| Best for | Travelers who want transferable points and serious travel protections without paying a premium annual fee |
Here are what I consider to be the pros and cons of the Chase Sapphire Preferred:
- Chase Sapphire Preferred Card pros include a great welcome bonus, an amazing rewards structure with great bonus categories, and very strong travel protections including primary rental car insurance
- Chase Sapphire Preferred Card cons include a recently reduced transfer ratio to World of Hyatt and no lounge access (though that’s expected for a card at this annual fee level)
Chase Sapphire Preferred changes
Whether you’re a new applicant or an existing cardholder, it’s worth knowing exactly what changed with the Chase Sapphire Preferred with its update in June 2026. First, here are the positive additions:
- New 3x bonus categories on gas stations, EV charging, and vacation home rentals with Airbnb, HomeAway, Homestay.com, Plum Guide, Vrbo, and Vacasa
- $50 Chase Travel hotel credit increased to $100
- A one-year complimentary Apple TV subscription
- Global Entry, TSA PreCheck, or NEXUS credit
- Expanded travel protection, including emergency evacuation coverage
These changes took effect immediately for both new and existing cardholders. On the other hand, these were the negative Chase Sapphire Preferred card updates:
- The Chase Sapphire Preferred now has a reduced transfer ratio for World of Hyatt, dropping from 1:1 to 4:3
- The Chase Sapphire Preferred dropped its 10% anniversary points bonus
Existing cardholders had a grace period before these changes kicked in, but that ended at the beginning of October 2026.
Chase Sapphire Preferred bonus, eligibility, & fees
When applying for a card, people are often motivated by a large welcome bonus, and that has to be balanced with the card’s eligibility requirements and annual fee. So to start by Sapphire Preferred review, we’ll take a look at the Sapphire Preferred welcome bonus, eligibility rules, and annual fee.
Chase Sapphire Preferred welcome bonus
The Chase Sapphire Preferred bonus is currently for 75,000 Ultimate Rewards points after spending $5,000 within three months.
At a minimum, you can redeem Ultimate Rewards points for one cent each. That would give 75,000 points a minimum value of $750. But transfer points to partners like Air France-KLM Flying Blue or Singapore KrisFlyer, and you can easily get far more than that.
Based on my latest miles & points valuations, I consider Ultimate Rewards points to be worth 1.7 cents each, though that’s a conservative valuation compared to the potential. So to me, the welcome offer is worth $1,275. That’s a huge bonus on a rewarding card.
Chase Sapphire Preferred eligibility rules & application restrictions
Before you apply, there are a few eligibility rules to be aware of with the Chase Sapphire Preferred. Officially, here are the current restrictions when it comes to applying for the Chase Sapphire Preferred:
This credit card is unavailable to you if you currently have one open. The new cardmember bonus may not be available to you if you previously held this card or received a new cardmember bonus for this card. We may also consider the number of cards you have opened and closed in determining your bonus eligibility.
As it currently stands, the Chase Sapphire Preferred, Chase Sapphire Reserve® Card (learn more), and Sapphire Reserve for Business℠ (learn more) are considered totally independently when it comes to eligibility, including for the bonus.
Note that if you’re the authorized user on someone else’s Sapphire credit card, you’re still eligible to get it for yourself. Eligibility is determined based on whether you’re the primary cardmember.
Beyond these card-specific rules, the other general Chase application restrictions apply to the Chase Sapphire Preferred. This includes the 2/30 rule, whereby you can be approved for at most two Chase cards every 30 days. Beyond that, Chase typically won’t approve a new card if you’ve opened five or more new card accounts in the past 24 months, which is what’s known as the 5/24 rule. Results vary, with lots of reports of Chase approving people who exceed that limit. If you’re under 5/24, you’re in good shape. If you’re over, it might be worth trying anyway.
Chase Sapphire Preferred credit score requirement
There’s not a consistent rule as to what credit score you need to get approved for the Sapphire Preferred, as credit score is one of many considerations. In general, aim for a credit score in the “good” to “excellent” category. I wouldn’t apply with a score under 700, and ideally would hope for 740 or higher. These aren’t hard and fast rules though. Approvals can happen with a lower score, and rejections with a higher one.
Chase Sapphire Preferred annual fee & authorized user fee
The Chase Sapphire Preferred annual fee is $95, which is not waived for the first year. Considering the value you get from the benefits, including monthly $10 DoorDash credits and a complimentary year-long Apple TV subscription, it’s easy to come out ahead on the Chase Sapphire annual fee.
You can also add authorized users at no extra cost, and they’re eligible for the card’s primary rental car coverage benefit as well.
Chase Sapphire Preferred no foreign transaction fee
The Sapphire Preferred has no foreign transaction fees, so this is an excellent card to use for purchases globally.
Chase Sapphire Preferred rewards points
For any travel rewards card, one big question is what the rewards are like, both on the earning and redemption side. So let’s look at those details for the Chase Sapphire Preferred, as it’s an area where the card got both better and worse with its last refresh.
Chase Sapphire Preferred points earning rates
The Chase Sapphire Preferred is an industry-leading card with an amazing rewards structure. You’ll earn:
- 5x points on travel booked through Chase Travel (and Lyft rides through September 30, 2027)
- 5x points on eligible Peloton equipment and accessory purchases through December 31, 2027; this applies to a minimum of a $150 purchase, with a cap of 25,000 bonus points
- 3x points on dining, streaming services, and online grocery store purchases (excluding Target, Walmart, and wholesale clubs)
- 3x points on gas stations and EV charging
- 3x points on vacation home rentals with Airbnb, HomeAway, Homestay.com, Plum Guide, Vrbo, and Vacasa
- 2x points on all other travel purchases, including everything from flights, to hotels, to rideshares, to parking, to campgrounds
- 1x points on everything else
The gas and EV charging category is worth calling out, since it’s especially nice to have a personal Chase Ultimate Rewards card offering bonus points on gas station purchases.
It always makes sense to get a card that matches up with your spending patterns, and the categories on the Sapphire Preferred will prove useful to a lot of consumers. Note that there are no caps on how many points you can earn in each of these categories (other than with Peloton), and points don’t expire as long as your account remains open and in good standing.
How to redeem Chase Sapphire Preferred points for best value
The Chase Sapphire Preferred earns Ultimate Rewards points. I find Ultimate Rewards to be one of the most valuable flexible points currencies. Personally, my favorite use is transferring them to one of Chase’s 14 airline and hotel partners:
Most of these partners transfer at a 1:1 ratio, with one big exception as of June 2026 (and this is a major downside to the card): the transfer ratio from Chase to World of Hyatt is 4:3 on this card. This applies to all Chase Ultimate Rewards cards except the Chase Sapphire Reserve (learn more) or Sapphire Reserve Business (learn more).
This change took effect for existing cardholders on October 1, 2026, and new applicants got the reduced transfer ratio as soon as the change was announced back in June 2026. As before, points can be pooled between cards, and you can use the highest transfer ratio available.
Still, there are big opportunities to get outsized value. Take the Park Hyatt Maldives, where free nights start at 25,000 World of Hyatt points — about 33,400 Ultimate Rewards points at the 4:3 transfer ratio. That could be a great deal, compared to the cash rates here, which are typically $1,000+ per night.
Or you could transfer 72,500 points to Virgin Atlantic Flying Club. Why? A redemption in All Nippon Airways first class between the west coast of the United States and Japan costs that much, assuming you can find availability.
However, that’s not the only way you can redeem Ultimate Rewards points. Chase Travel℠ offers redemptions for everything from gift cards to Apple products, to flight and hotel redemptions. The standard redemption rate through the portal is one cent per point, but values do vary.
Alternatively, you can redeem through Chase Travel using the Points Boost feature. This gives cardmembers better redemptions for some type of travel bookings, and you can get up to 1.75 cents of value per point using this. You’ll find elevated rights for flights with select airlines, as well as for some bookings with The Edit by Chase Travel.
Lastly, here’s an important distinction that other sites sometimes gloss over: your points are worth what you redeem them for. And that varies significantly based on how you use them, so you should decide how much your points are worth.
Chase Sapphire Preferred benefits & credits
Despite the Sapphire Preferred annual fee being so low, the card packs in some serious value. I’ll run through the main Sapphire Preferred benefits below. For a deeper dive, check out the full guide on why the Chase Sapphire Preferred is worth it.
Travel insurance & protection, rental car coverage
The Chase Sapphire Preferred offers quite a bit of valuable travel protection. If you, your flight, or your luggage are lost or delayed, this card has you covered.
| Sapphire Preferred Travel Protections | Details |
|---|---|
| Trip Cancellation/Interruption Insurance | • You can be reimbursed up to $10,000 per covered traveler and $20,000 per trip for your pre-paid, non-refundable travel expenses • The cancellation or interruption must be caused by death, accidental injury, disease, or physical illness of the passenger or immediate family member |
| Trip Delay Reimbursement | • Receive up to $500 per traveler if your trip is delayed for more than 12 hours • The trip has to be delayed by an equipment failure, inclement weather, labor strikes, or hijacking |
| Baggage Delay Benefit | • You can be reimbursed up to $500 when some or all of the cost of a common carrier ticket is charged to your card (therefore award tickets should be eligible if the taxes are charged to the card) • You can be reimbursed a maximum of $100 per day for emergency purchases of essential items at a destination other than your current residence |
| Lost Luggage Reimbursement | • Receive reimbursement for lost or damaged checked or carry-on bags and personal property • Maximum reimbursement is $3,000 |
| Emergency Evacuation Coverage | • Be covered when you become injured or sick during a trip 100 miles or more from home that results in an emergency evacuation • Maximum reimbursement is $100,000 |
As of the June 2026 refresh, the card also added emergency evacuation coverage. This makes the card’s travel coverage more well rounded, and puts it closer to being in line with that of the Chase Sapphire Reserve.
The card also includes primary collision damage waiver coverage on rental cars, both in the United States and abroad. This means you can decline the rental company’s expensive CDW and rely on the card’s coverage instead. To me, this is one of the most important perks a card can offer. The rental car protection literally saved me over $10,000 when I was rear-ended in a rental car once.
Long story short, even though it wasn’t my fault, this would have been a massive pain if it weren’t for having used a card with primary coverage. Perhaps the best endorsement is that I don’t even know what ended up happening between the various insurance companies and the rental agency. I didn’t have to deal with anything other than filing the initial claim.
I’ve saved a ton with this card from not paying CDW premiums over the years, not to mention the thousands of dollars in travel protection reimbursements.
$100 annual hotel credit
The Sapphire Preferred offers a $100 annual Chase Travel℠ hotel credit, doubled from $50 as part of the June 2026 refresh. Just book a hotel through the Chase Travel portal, pay with your card, and automatically receive a statement credit of up to $100.
There’s no minimum stay required, so as long as you book a hotel through Chase Travel that costs at least $100, you should be able to get full value out of that, and basically more than offset the annual fee. That’s great. I appreciate that this is just a single credit, so this isn’t a semi-annual $50 credit, or anything like that.
This benefit is based on your account anniversary year, and includes the first year you have the card.
Global Entry, TSA PreCheck, or NEXUS credit
As of June 2026, the Sapphire Preferred offers an up to $120 statement credit that can be used toward Global Entry, TSA PreCheck, or NEXUS, valid once every four years. This is a pretty common perk on premium cards, so it’s cool to also see this on a card with an annual fee of under $100.
One-year complimentary Apple TV subscription
The Chase Sapphire Preferred now comes with a complimentary Apple TV subscription for one year, with activation required by December 31, 2026. It’s another perk that adds a lot of short term value.
This would ordinarily cost $119 per year, so in the short term, that could even get you more value than the annual fee. That’s tough to beat, if you ask me. Just remember that the subscription could auto-renew, so if you don’t want to keep it, be sure to cancel.
DoorDash credits & DashPass
The Sapphire Preferred also includes a DoorDash DashPass membership, for a minimum of one year, when enrolled by December 31, 2029. With DashPass, you can enjoy $0 delivery fees and reduced service fees on eligible DoorDash orders. You’ll also receive a $10 promo credit each month, which you can use to get a discount on non-restaurant orders.
Is the Chase Sapphire Preferred worth it?
Unequivocally, yes. When the card first launched it was so good it basically became a meme. I’d argue the value prop has only improved over the years. If you don’t have the Chase Sapphire Preferred and are eligible, then yes, the card is a no-brainer. This is one of the best mid-range travel credit cards on the market, period. Let’s talk about this in a bit more detail.
Who the Chase Sapphire Preferred card is good for
The Sapphire Preferred is ideal for people who want to earn transferable points without paying a premium annual fee. It’s perfect for someone just getting started in miles and points, as well as experienced travelers who want a solid “hub” card for Ultimate Rewards.
If Ultimate Rewards points are your rewards currency of choice, the Chase Sapphire Preferred can be the cornerstone of your “Chase Trifecta.” Pairing it with two other no annual fee Chase cards earns you a minimum of 1.5x points on all your spending.
First, there’s the Chase Freedom Flex® (learn more), which earns up to 5x points (or 5% cash back) in rotating quarterly spending categories that often include groceries and Amazon. The second card is the Chase Freedom Unlimited® (learn more), which earns 3% cash back (or 3x points) on dining and 1.5% cash back (or 1.5x points) on everyday spending. Between these two cards and the Chase Sapphire Preferred, the bonus categories — and your points — can add up quickly.
If you spend heavily on dining, streaming, and travel, the bonus categories will serve you well. The same goes for anyone with a regular commute, now that gas and EV charging earn 3x points. And if you occasionally rent cars or experience flight delays, the travel protections are genuinely valuable.
Who shouldn’t consider the Chase Sapphire Preferred
If you want lounge access, you’ll need to look at the Chase Sapphire Reserve (learn more) or other premium cards. If you’re primarily focusing on a single airline or hotel program, a co-branded card might earn you points faster in that specific currency. And if you prefer cash back to travel rewards, you’ll want to stick with a simpler card.
And if World of Hyatt is the main reason you collect Ultimate Rewards, keep in mind that this card now transfers to Hyatt at 4:3, while the Sapphire Reserve keeps the 1:1 ratio.
Chase Sapphire Preferred vs. Chase Sapphire Reserve comparison
Many consumers may be trying to decide between the Chase Sapphire Preferred and Chase Sapphire Reserve. While I’ve written a detailed Sapphire Preferred vs. Sapphire Reserve comparison, let me summarize it here. The Sapphire Preferred is the better value for most people. Meanwhile, the Sapphire Reserve makes sense if you’ll use the lounge access and travel credits.
The key advantages of the Sapphire Preferred include:
- The significantly lower annual fee ($95 vs $795)
- The ability to add authorized users at no extra cost
- The 3x points on streaming services and online grocery purchases
- The 3x points on gas stations, EV charging, and select vacation rentals
- The 2x points on all travel purchases (as opposed to just airfare and hotels)
- The $100 annual hotel credit
The Sapphire Reserve’s main advantages include Priority Pass lounge access, Chase Sapphire Lounge access, Air Canada Lounge access, the higher Points Boost redemption rates, and the $300 annual travel credit, along with other credits. The Sapphire Reserve also keeps 1:1 transfers to World of Hyatt, while the Sapphire Preferred now transfers at 4:3, so that becomes a point of differentiation between the cards.
Long term, I think the Sapphire Reserve is worth it if you can maximize all the credits and lounge access. However, outside of those circumstances, the Preferred offers a better value.
Chase Sapphire Preferred vs. Citi Strata Premier comparison
At the ~$100 annual fee level, one of the Sapphire Preferred’s main competitors is the Citi Strata Premier® Card (learn more). While I’ve written a detailed Sapphire Preferred vs. Strata Premier comparison, let me summarize it here.
The Strata Premier offers 3x points on dining, gas, groceries, air travel, and hotels, which arguably makes it the other best mid-range card purely in terms of bonus categories. However, the Chase Sapphire Preferred wins by a long shot on travel coverage, particularly primary rental car CDW both in the US and abroad. The Strata Premier’s travel protection pales in comparison.
I’d also recommend considering which points ecosystem you value more, as there are pros & cons to each. Chase has more of an ability to build up a larger card portfolio, but Citi also has a solid card selection at this point.
Chase Sapphire Preferred vs. Capital One Venture Rewards comparison
The Capital One Venture Rewards Credit Card (learn more) is the Chase Sapphire Preferred’s other main competitor at this annual fee level. While I’ve written a detailed Sapphire Preferred vs. Venture Rewards comparison, I’ll cover the basics here.
The Venture Rewards offers a competitive welcome bonus and straightforward 2x miles on everyday spending. Both cards offer excellent bonuses, and the Venture may edge out the Sapphire Preferred on welcome bonus depending on current offers. However, the Sapphire Preferred’s transfer partners are generally more valuable, and the travel protections are more robust.
The bottom line is that if travel protection is important to you and you value the flexibility of Ultimate Rewards transfer partners, the Sapphire Preferred is the winner at this price point.
Other Chase Sapphire Preferred alternatives to consider
While I did some head-to-head Chase Sapphire Preferred comparisons above, I’d also like to briefly mention a few other cards that are arguably in the same competitive set, and are at least worth looking into:
- The Bilt Obsidian Card (learn more) is actually a pretty direct competitor to the Sapphire Preferred, and also has a great rewards structure and reasonable fee, and is part of a valuable points eco system (Rates & Fees)
- The American Express® Gold Card (learn more) has a higher annual fee, but is tough to beat for those who spend a lot on dining, and also offers credits that can help offset the fee
- The Capital One Venture X Rewards Credit Card (learn more) also has a higher annual fee on the surface, but it’s actually super easy to justify, thanks to the annual $300 Capital One Travel credit, plus the 10,000 anniversary bonus miles, while offering access to Capital One Lounges and Capital One Landings
Chase Sapphire Preferred FAQs
Bottom line
The above is my updated Chase Sapphire Preferred review. This is one of the best value mid-range cards out there, when you factor in points earning, travel protection, perks, and the rewards structure, especially given the reasonable Chase Sapphire annual fee.
The card recently underwent a refresh that was a mixed bag, but the good news is that the earnings rates improved, and we also saw some new perks added. At the same time, the 10% anniversary bonus points perk was eliminated, and the Hyatt transfer ratio was devalued.
In general, if the bonus categories fit your spending profile, and if you can use the $100 annual hotel credit, I’d seriously consider this card. The current welcome bonus is a particularly compelling reason to apply, as there’s only upside to at least giving this card a try for a year.
What’s your take on the Chase Sapphire Preferred?
With the recent "differentiation" between the Sapphire cards, this card has gone from mediocre to useless.