Chase Sapphire Preferred® Card review: The best travel rewards card for less than $100
A powerful combination of bonus rewards and travel perks.
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Snapshot
4.9
Bottom line
The Chase Sapphire Preferred is an excellent entry point into the world of travel rewards since it offers impressive value, multiple redemption options and premium benefits for a modest $95 annual fee.
Limited time offer
Earn 100,000 intro bonus points
BEST STARTER TRAVEL CARD
Intro offer
Earn 100,000 intro bonus points
Rewards rate
1x - 5x
Annual fee
$95
Regular APR
19.99% - 28.24% Variable
4.2
Cardholder rating
Extra perks
Online tools
Customer service
Intro APR length
4.9
Bankrate score
Rewards value
APR
Rewards flexibility
Features
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Remove a card to add another to compare
Chase Sapphire Preferred® Card overview
The Chase Sapphire Preferred Card is one of the best travel credit cards on the market and a fan favorite among Bankrate staff. It has a relatively low $95 annual fee, a generous rewards program, annual credits and anniversary bonus points. I picked up this card in October 2022, and it’s been my main rewards-earner since.
Although it lacks some of the robust perks found in more premium travel cards, that’s OK with me. I don’t travel enough to need airport lounge access, and many of the credits these cards offer are ones I'd have to really work to use.
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Rewards
- 5X points on travel purchased through Chase Travel℠ (excluding hotel purchases that qualify for the $50 annual hotel credit)
- 5X total points on Lyft rides (2X on general travel and 3X-point bonus, offer ends Sept. 30, 2027)
- 5X total points on Peloton equipment and accessory purchases over $150 (maximum of 25,000 total points; offer ends Dec. 31, 2027)
- 3X points on dining (including eligible delivery services), select streaming services and online grocery purchases (excluding Walmart, Target and wholesale clubs)
- 2X points on other travel
- 1X points on other purchases
- Rewards value: 1.25 cents per point when redeemed through Chase Travel℠ or around 2.0 cents on average through the right transfer partner (based on Bankrate's estimated valuations)
Expert Appraisal: Exceptional
See our expert analysis -
Welcome offer
- 100,000 bonus points after spending $5,000 on purchases within the first three months
Expert Appraisal: Good
See our expert analysis -
Rates and fees
- $95 annual fee
- Foreign transaction fee: $0
- No intro APR on purchases or balance transfers
- Regular APR: 19.99% - 28.24% Variable
- Balance transfer fee: 5 percent of the amount each transfer (minimum $5)
- Cash advance fee: 5 percent of the amount each transaction (minimum $10)
- Late/returned payment fee: Up to $40
Expert Appraisal: Typical
See our expert analysis -
Other cardholder perks
- 10 percent anniversary bonus points based on your total purchases the previous year
- Up to $50 in annual statement credits toward hotel stays through the Chase Travel portal
- Comprehensive travel insurance, including trip cancellation/interruption insurance, trip delay reimbursement and baggage delay insurance
- Complimentary, limited-time credits and/or other partner perks with Lyft, DoorDash and Peloton
- Purchase and extended warranty protection
- Potential access to alternative payment plans with a fixed monthly fee
Expert Appraisal: Good
See our expert analysis
Chase Sapphire Preferred pros and cons
Pros
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You can combine points from other Ultimate Rewards cards to enhance their overall value.
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This card packs phenomenal redemption value through its transfer partners, statement credits and 25 percent point value redemption boost toward Chase Travel.
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The rich perks roster features benefits commonly found on higher-tier travel cards, including an anniversary bonus and travel protections.
Cons
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You can earn higher bonus rates in some everyday categories with other cards.
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Although it may not be hard to offset, there’s still a $95 annual fee.
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This card doesn’t offer introductory APRs on purchases or balance transfers, unlike some no-annual-fee rivals.
First-year value vs. ongoing value
I can’t stress enough how much this card is worth the annual fee. If you're looking for a new travel card and need a nudge, the Sapphire Preferred card’s limited-time welcome offer will definitely sweeten the deal for the first year. But here’s how its value extends into the second year and beyond, assuming you spend $22,500 annually (including groceries ordered online), earn a value of 1.25 cents per point and fully utilize the card's perks.
Cost & benefits | First-year value | Ongoing value |
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Welcome offer | $1,250 (100,000 bonus points after spending $5,000 in the first three months, worth 1.25 cents when redeemed through Chase TravelSM) | – |
Yearly rewards | $561 (points worth 1.25 cents when redeemed through Chase TravelSM) | $561 (points worth 1.25 cents when redeemed through Chase TravelSM) |
Perks of monetary value | $50 (annual statement credits toward hotel stays through the Chase Travel portal) $28 (value of 10% anniversary points boost) | $50 (annual statement credits toward hotel stays through the Chase Travel portal) $28 (value of 10% anniversary points boost) |
Annual fee | -$95 | -$95 |
Value | $1,794 | $544 |
Why you might want the Chase Sapphire Preferred
The Sapphire Preferred is hard to beat if you’re looking for a cost-effective travel card. Its travel perks, annual credits and bonus points are impressive for a card in its class and can easily justify the annual fee. Perhaps even more appealing is the diverse selection of bonus categories and redemption options, plus the remarkably high redemption values that can fuel your next trip.
Welcome offer: Boosted welcome offer you can’t miss
With the Chase Sapphire Preferred current limited-time welcome offer, new cardholders can earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening. According to Bankrate's valuations, those points can be worth around $2,000, based on a value of about 2.0 cents per point on average (when transferred to the right travel partners).
When I got the Sapphire Preferred, I received the standard welcome offer of 60,000 points for spending $4,000 in the first three months. I was able to get plenty out of it — one hotel night in Zurich, Switzerland, a week-long rental car in Poland and three plane tickets in total (one round-trip and two one-way). Could I have waited for a better offer? No, I really wanted this card for my international trip. Do I have major FOMO because I’m not eligible for this current offer? Absolutely. If there was ever a time to get the Sapphire Preferred, this is it.
Rewards: Outstanding travel value
The Sapphire Preferred card’s rewards program is a powerhouse, offering impressive rewards rates in more travel-related categories than many competing cards. When I was looking for my first general travel rewards card, I looked at a few others — mainly from Citi and Capital One — but ultimately settled on the Sapphire Preferred because of its dining and online grocery categories. That’s where I use the card the most. I always pull it out for my Starbucks orders, date nights and weekend lunches to get 3X points.
But where I get the most value in earning rewards is with its online grocery categories — a huge part of my spending. Not only does this include Instacart orders, but also online Kroger, Meijer and Aldi pickup and delivery orders (Walmart, Target and wholesale clubs are excluded). If I don’t have time to hit the grocery store, I can put in a Kroger delivery order and usually have my groceries show up the next day while earning 3X points.
However, this card’s biggest strength is the value of Chase Ultimate Rewards points on certain redemption options. Points are worth 25 percent more (1.25 cents per point) when booking travel through Chase Travel. You can also pool points from other Ultimate Rewards and cash back cards, giving the same boost to all your Chase cards. Chase also features an impressive list of 1:1 airline and hotel transfer partners, raising the value to about 2.0 cents per point on average, according to our most recent valuation. Only a few cards — including the Sapphire Preferred, Chase Sapphire Preferred® Card, and Ink Business Preferred® Credit Card — give you the ability to transfer your points in this way.
You can earn points in a few clever ways if you don’t mind a little legwork. There’s a 10,000-point referral bonus if any friends you refer to the card are approved (up to ten referrals per year), which could be an easy way to earn up to 100,000 more points. Plus, the Chase Offers card-linked program could earn you an extra helping of rewards with various merchants across all categories.
Perks: High-caliber benefits for its card tier
In addition to its stand-out rewards, the Sapphire Preferred’s benefits include perks that provide excellent value for its annual fee. For example, its stellar travel insurance matches the coverage offered by premium travel cards with higher annual fees.
But the most valuable perks are its recurring bonuses. You’ll get up to $50 in statement credits each year for hotel stays you purchase through Chase Travel. You’ll also get a 10 percent anniversary point bonus. For example, I spent around $32,000 on my card in 2024, earning me an extra 3,286 points.

Image provided by Courtney Mihocik; individual anniversary point bonuses will vary.
Why you might want a different travel card
The Sapphire Preferred is an excellent rewards card whether you are an experienced travel rewards strategist or new to cards. However, you may need convincing if you’re wary of annual fees or looking for a balance transfer offer.
Rates and fees: Annual fee may discourage newcomers
The Sapphire Preferred has a $95 annual fee, which may appear intimidating if you only travel occasionally and are looking for your first travel card. However, this price tag is low compared to the perks and rewards the card offers. Before picking up the Sapphire Preferred, I already held a co-branded airline card with a $99 annual fee, so it was easier for me to stomach $95 — especially when I considered the card's point values and perks.
The annual account anniversary bonus points and credits can potentially offset the annual fee alone, but the fee also isn’t too difficult to offset through your standard rewards spending. Keep in mind that this level of rewards and perks value can be difficult to find among no-annual-fee travel cards. No-annual-fee competitors also typically have lower rewards rates than the Preferred card and no yearly credits or notable travel perks.
The card's other rates and fees are typical for travel cards — there are no foreign transaction fees to worry about while you’re abroad, and the ongoing APR is only slightly higher than the average current credit card interest rate.
Why Bankrate staff love the Chase Sapphire Preferred
The Chase Sapphire Preferred is a favorite among Bankrate staff. Here’s why:
Bankrate staff insights
Best cards to pair with the Chase Sapphire Preferred
The Chase trifecta is your best pairing option because of the cards’ complementary rewards categories and the ability to pool your earned rewards into one account.
Just keep Chase’s 5/24 rule in mind as you search for cards to pair with the Sapphire Preferred: You may not be eligible to open a Chase credit card if you’ve already opened five or more credit cards (no matter the issuer) in the past 24 months.
How the Chase Sapphire Preferred compares to other travel credit cards
It’s hard for many cards to strike a balance between rewards, first-year value and benefits like the Sapphire Preferred does, but a few cards hold their own.

Annual fee
Intro offer
Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
Rewards rate
5x on travel purchased through Chase Travel℠. 3x on dining, select streaming services and online groceries. 2x on all other travel purchases. 1x on all other purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Annual fee
Intro offer
Earn 75,000 miles once you spend $4,000 on purchases within the first 3 months of account opening, plus receive a one-time $250 Capital One Travel credit to use in your first cardholder year – that’s equal to $1,000 in travel.
Rewards rate
5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel. 2 Miles per dollar on every purchase, every day.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Annual fee
Intro offer
Earn 60,000 bonus ThankYou® Points after spending $4,000 in the first 3 months of account opening, redeemable for $600 in gift cards or travel rewards at thankyou.com.
Rewards rate
Earn 10 Points per $1 spent on Hotels, Car Rentals, and Attractions booked on CitiTravel.com. Earn 3 Points per $1 on Air Travel and Other Hotel Purchases, at Restaurants, Supermarkets, Gas and EV Charging Stations. Earn 1 Point per $1 spent on all other purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Is the Chase Sapphire Preferred right for me?
The Chase Sapphire Preferred card’s great travel and dining rewards, everyday bonus categories and annual bonuses make it one of the best — if not the best — travel cards. This card could be the perfect choice for you if you:
- Want a mid-tier travel card to earn points for occasional travel.
- Need a trusty card to pull out for frequent dining and online grocery purchases.
- Have other Chase cards to pool points with.
- Want a headstart on your points stockpile with the sky-high sign-up bonus.
The information about the Fidelity® Rewards Visa Signature® Credit Card, Citi Premier® Card and Chase Freedom Flex® has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
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Frequently asked questions
How we rated this card
We rate credit cards using a proprietary card scoring system that ranks each card’s estimated average rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more against those of other cards in its primary category.
Each card feature is assigned a weighting based on how important it is to people looking for a card in a given category. These features are then scored based on how they rank relative to the features on other cards in the category. Based on these calculations, each card receives an overall rating of 1-5 stars (with 5 being the highest possible score and 1 being the lowest).
We analyzed over 150 of the most popular rewards and cash back cards to determine where each stacked up based on their value, cost, benefits and more. Here are some of the key factors that influenced this card’s overall score and how the score influenced our review:
What cardholders think
In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.
Community Reviews
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