Chase Sapphire Preferred review: A traveler’s delight packed with perks at a low annual fee
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“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Updated 3:20 p.m. UTC June 25, 2024
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The Chase Sapphire Preferred® Card offers generous rewards on travel and dining and a straightforward redemption program. It’s an excellent choice for both frequent and aspiring travelers looking to maximize their everyday spending. Read more in our full Chase Sapphire Preferred card review.
Editor’s Note: This article contains updated information from a previously published story.
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Chase Sapphire Preferred® Card
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Chase Sapphire Preferred basics
- Annual fee: $95.
- Welcome bonus: 60,000 points after spending $4,000 on purchases in the first three months of account opening.
- Rewards: 5 points per $1 on travel purchased through Chase Travel℠, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases.
- APR: 21.49% to 28.49% variable APR on purchases and balance transfers.
- Other perks and benefits: $50 annual Chase Travel hotel credit, six months Instacart+ subscription and complimentary DoorDash DashPass subscription for a year.
- Does the issuer offer a preapproval tool? Yes.
- Recommended credit score: Good to excellent.
Chase Sapphire Preferred review
The Chase Sapphire Preferred Card is one of the most popular travel rewards cards on the market for good reason. It earns simple and generous rewards on dining and also on travel booked through the Chase Travel site. Plus the Chase Sapphire Preferred’s travel benefits are top-notch at a relatively low $95 annual fee package.
The card earns 5 points per $1 on travel purchased through Chase Travel℠, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases. These rewards are flexible and can be redeemed for cash back, merchandise or gift cards. But savvy points-and-miles pros know that the more valuable use is to redeem points for travel through Chase at a rate of 1.25 cents per point or transfer them to one of Chase’s travel loyalty partners at a rate of 1:1.
There are no foreign transaction fees with this card, making it a great choice for international travelers. Plus, the card also comes with a wide array of benefits unique to a card at this price point, like trip cancellation/interruption insurance, primary car rental insurance, purchase protection and extended warranty coverage.
One potential drawback with this card is that you must have good credit to be approved, so if your credit score isn’t up to par, you may not qualify. And, someone seeking luxury perks at the airport may find that the card’s lack of lounge access or trusted traveler credits might mean it’s worth it to pay for a more premium travel credit card with those features. But for those getting started with travel rewards and those who don’t need the privileges that a more expensive credit card can offer, the Chase Sapphire Preferred is one of the best credit cards for their wallet.
Pros
- Generous category bonuses: The Sapphire Preferred earns 5 points per $1 on travel purchased through Chase Travel℠, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases.
- Excellent redemption options: The card earns Chase Ultimate Rewards® points, which you can transfer to more than a dozen airline and hotel options. They include Hyatt, United, JetBlue and others. Alternatively, you can redeem points for travel through the Chase Travel portal at 1.25 cents each.
- Valuable travel benefits: The Sapphire Preferred offers a $50 annual hotel credit when booked through Chase Travel. The card also offers valuable travel protections including trip cancellation/interruption insurance, trip delay reimbursement, primary rental car insurance and baggage delay insurance.
Cons
- $95 annual fee: The Sapphire Preferred’s $95 annual fee is reasonable for what the card offers, but cardholders should analyze the value they’re likely to get from the Sapphire Preferred’s rewards and benefits to ensure they’re getting their money’s worth.
- No elite travel perks. The card doesn’t offer benefits found on some other, more premium travel credit cards like airport lounge access, hotel perks or trusted traveler application fee credits.
- Chase 5/24 rule: The card is subject to Chase’s 5/24 rule. If you’ve opened five or more credit cards in the last 24 months with any issuer, you’re not eligible for this card.
Sharing is caring: These are the benefits of adding an authorized user to the Chase Sapphire Preferred Card
Chase Sapphire Preferred rewards
The Chase Sapphire Preferred Card earns points at generous rates: 5 points per $1 on travel purchased through Chase Travel℠, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases. There’s also a welcome bonus of 60,000 points after spending $4,000 on purchases in the first three months of account opening.
Using government data and other publicly available information, we estimate that a household in the U.S. that would be in the market for the Sapphire Preferred has $29,525 in expenses they are likely to be able to charge to a credit card. Here’s a breakdown of how much you could earn from credit card spending based on that:
| SPENDING CATEGORY | SPENDING AMOUNT | POINTS PER DOLLAR | POINTS EARNED |
|---|---|---|---|
Airlines and hotels booked through Chase Travel
| $2,447
| 5*
| 11,985
|
Lyft rides
| $433
| 5 | 2,165
|
Dining and takeout
| $3,639
| 3 | 10,917
|
Online groceries
| $2,851.50
| 3 | 8554.50 |
Streaming
| $648
| 3 | 1994 |
Other
| $19,506.50
| 1 | 19,506.50
|
TOTAL
| $29,525
| 55,122
|
*Note that the first $50 in hotel spending through Chase is not eligible to earn points since it’s a credit from the issuer.
Our sample cardholder in the above scenario would earn 55,122 Chase Ultimate Rewards points. These points can be redeemed for statement credits, travel through Chase Travel, gift cards and merchandise. When redeemed through the Chase Travel portal for travel bookings, points are worth 1.25 cents each. However, the best value for your points will generally be to transfer them to one of Chase’s airline and hotel partners and book award travel through the partner’s loyalty program.
Be aware, travel booked through the Chase portal is not the same as booking directly with an airline or hotel, and any changes or cancellations to your plans will require you to deal with Chase Travel and not the supplier directly.
Chase Sapphire Preferred perks
Considering this is a mid-tier travel card with a reasonable annual fee, the Chase Sapphire Preferred is loaded with travel benefits. First up, you can get up to $50 in statement credits each account anniversary year to reimburse hotels booked through the Chase Travel portal. Plus, the welcome bonus is fairly generous for a card at this price point.
You also get the following travel protections when using this card:
- Trip cancellation and interruption insurance up to $10,000 per person and $20,000 per trip.
- Baggage delay insurance up to $100 per day for five days on delays over six hours.
- Trip delay insurance up to $500 per ticket on delays over 12 hours or requiring an overnight stay.
- Primary car rental insurance when you decline the rental company’s coverage.
- Referrals for legal, medical and other travel and emergency assistance (you are responsible for any costs incurred).
Last, but certainly not least, you can book travel for 25% more value per point through the Chase portal, or transfer rewards 1:1 to the following partners:
- Aer Lingus AerClub
- Air Canada Aeroplan
- British Airways Executive Club
- Emirates Skywards®
- Flying Blue AIR FRANCE KLM
- Iberia Plus
- IHG One Rewards
- JetBlue TrueBlue
- Marriott Bonvoy
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards
- United MileagePlus
- Virgin Atlantic Flying Club
- World of Hyatt
How the Chase Sapphire Preferred compares to other travel cards
Chase Sapphire Preferred vs. Chase Sapphire Reserve®
The Sapphire Preferred and Sapphire Reserve are both travel cards from Chase with generous rewards and benefits. Like the Preferred, the Reserve offers a generous welcome bonus: 60,000 points after spending $4,000 on purchases in the first three months of account opening.
The main difference between them is the annual fee and the benefits that come with each price point — the Preferred has a $95 annual fee, while the Reserve has an annual fee of $550 and $75 per authorized user. The Sapphire Reserve also offers more rewards per dollar spent on travel and dining purchases and an up to $300 annual travel credit. Additionally, the Reserve offers access to airport lounges, while the Preferred does not. You’ll have to decide if the higher rewards rate and lounge access is worth the extra annual cost.
Packed with perks: Here’s nearly a dozen Chase Sapphire Preferred Card travel benefits that you should know about
Chase Sapphire Preferred vs. Citi Strata Premier℠ Card * The information for the Citi Strata Premier℠ Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
The Citi Strata Premier and the Sapphire Preferred have the same $95 annual fee. The Strata Premier also comes with a welcome bonus of 75,000 points after spending $4,000 on purchases in the first three months of account opening. However, the two travel cards have different strengths. The Citi Strata Premier earns 10 ThankYou® points per $1 spent on hotel, car rentals and attractions booked through CitiTravel.com, 3 points per $1 on air travel and other hotel purchases, at restaurants, supermarkets, gas stations and EV charging stations and 1 point per $1 on other purchases.
While this rewards structure is similar to that of the Sapphire Preferred, not all of the travel earning rate is restricted to a specific booking portal like the Sapphire Preferred is. The Citi Strata Premier also provides $100 off a single hotel stay of $500 or more (excluding taxes and fees) when booking through ThankYou.com, once per calendar year – it’s higher than what the Sapphire Preferred offers but also has a higher spending threshold.
Citi also has more travel transfer partners than Chase.
Chase Sapphire Preferred vs. Capital One Venture Rewards Credit Card
With the same $95 annual fee, the Capital One Venture Rewards card offers a higher welcome bonus than the Sapphire Preferred: 75,000 miles after spending $4,000 on purchases in the first three months of account opening. The card earns 5 miles per $1 on hotels and rental cars booked through Capital One Travel and purchases through Capital One Entertainment and 2 miles per $1 on other purchases — making it ideal if you want a simple rewards card with a straightforward earn structure.
You can transfer Capital One miles to multiple airline and hotel programs or redeem them for travel at 1 cent each. The Capital One Venture Card also offers premium perks like two complimentary Capital One lounge visits per year, an up to $100 Global Entry or TSA PreCheck credit every four years and no foreign transaction fees. However, its travel protections¹ are less robust than the Preferred, making a choice between the two come down to personal preference.
Is the Chase Sapphire Preferred card worth it?
The Chase Sapphire Preferred is worth it for those who want a card with a reasonable annual fee that earns bonus rewards on travel, dining and certain everyday spending categories. The card provides access to earning Chase Ultimate Rewards — widely considered one of the best credit card rewards programs, thanks to its flexible redemption options — and comes with some valuable travel and purchase protections, too.
You can transfer points 1:1 to partner airlines and hotels or redeem them directly with Chase at a favorable rate. However, this card might not be the best fit if you won’t use its perks or won’t spend enough to make up for the $95 annual fee in rewards earned.
The Chase Sapphire Preferred card is right for you if:
- You want a card that earns rewards points for travel, without a high annual fee.
- You want a card with a comprehensive lineup of travel and purchase protections.
- You understand how to transfer rewards to Chase’s travel loyalty partners to get maximum value for your rewards.
Methodology
Our credit cards team has spent hours analyzing hundreds of travel credit cards. We took a deep dive into the details of each product and that analysis, combined with our years of experience covering credit cards, informed us as we developed these credit card rankings. We factored the following into our analysis:
- Annual fees.
- Travel reward rates.
- Value of rewards.
- Redemption options.
- Additional benefits that a card may offer for travelers, such as travel insurance.
Frequently asked questions (FAQs)
The Chase Sapphire Preferred is considered a midrange card, due to its $95 annual fee and the benefits it provides. It offers bonus points for travel purchases and on various everyday spending categories, no foreign transaction fees, travel protections and flexible rewards redemption options.
Chase has not published an income requirement for the Sapphire Preferred. When reviewing your application, Chase considers your credit score, history and ability to repay debt.
Chase has not publicly disclosed the credit score requirements for the Chase Sapphire Preferred card. However, most applicants will need good-to-excellent credit to be approved. A good credit score is generally defined by FICO as 670 to 739, while a very good score starts at 740 and higher. You’ll have a much better chance of approval if your credit score is at least a 700.
Chase Ultimate Rewards points can be redeemed for a variety of rewards, including cash back, gift cards and merchandise. Points can also be transferred 1:1 to more than a dozen airline and hotel loyalty programs. Additionally, points on your Sapphire Preferred account can be used to book travel through the Chase Travel portal at a value of 1.25 cents each.
If you use the Chase Sapphire Preferred’s benefits and spend in the bonus rewards categories, the card can be worth it. The welcome bonus alone is worth more than the annual fee, but after the first year, you’ll need to evaluate the other Chase Sapphire Preferred benefits. For example, if you use the $50 hotel credit (valid on Chase Travel bookings) and earn at least 4,500 points (worth $45 in cash back) from the category bonuses, you’ll break even with the $95 annual fee.
Like most issuers, Chase does not specify a credit limit before you apply for the card. If your application is approved, your credit limit will be based on a number of factors including your credit score, your current debts and other financial factors.
If your everyday purchases are centered around dining and online grocery delivery, then the Chase Sapphire Preferred card is a fit for your spending habits. But if a large chunk of your household spending goes towards in-person grocery shopping, gas or other expenses, another card will earn you higher rewards.
The Chase Sapphire Preferred card does not have airport lounge access. However, you can use the card to purchase a day pass to an eligible lounge.
¹For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
*The information for the Citi Strata Premier℠ Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
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