Key takeaways

  • The Chase Sapphire Preferred® Card rewards structure makes it easily one of the top travel credit cards on the market.
  • The card's lucrative sign-up bonus only adds to the allure for cardholders who are interested in a top travel rewards card.
  • Other perks, like a hotel credit, trip insurance and no foreign transaction fees, as well as the card's comparatively modest annual fee, also make it worth consideration.

The Chase Sapphire Preferred® Card is easily one of the top travel credit cards on the market today thanks to its ongoing rewards structure, first-year welcome bonus and wealth of perks.

This Chase credit card comes with a sign-up bonus of 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. And in terms of ongoing rewards, cardholders earn 5X points on travel purchased through Chase Ultimate Rewards and Lyft Rides (Lyft offer through March 2025); 3X points on dining (including eligible delivery services), select streaming services and online grocery purchases (excluding Target, Walmart and wholesale clubs); 2X points on general travel; and 1X points on everything else.

With the Chase Sapphire Preferred, you have the option to redeem your rewards for cash back, statement credits, merchandise and gift cards. You can also redeem rewards for travel through the Chase Ultimate Rewards portal, which gives you 25 percent more value from your points. In addition, this card lets you transfer points to popular Chase airline and hotel partners like United MileagePlus, Southwest Rapid Rewards and Marriott Bonvoy at a 1:1 ratio.

Chase Sapphire Preferred annual benefits

$50 hotel credit

You’ll receive $50 in statement credits each year for hotel stays purchased through Chase Ultimate Rewards.

10% anniversary point bonus

Each account anniversary, cardmembers will automatically earn bonus points equal to 10 percent of the total spend in points made in the previous year.

Chase Sapphire Preferred travel benefits

No foreign transaction fees

You won’t be charged foreign transaction fees on purchases made outside of the United States.

Auto rental collision damage waiver

This is secondary coverage good for up to the actual cash value of a vehicle for most rental cars within the U.S. and abroad.

Trip cancellation and interruption insurance

If your trip is canceled or interrupted for covered reasons beyond your control, trip cancellation and interruption insurance can reimburse you in amounts up to $10,000 per person and up to $20,000 per trip.

The cardholder and immediate family members are covered by this perk, and the cardholder doesn’t even have to be traveling in order to use this coverage. However, you do have to pay for any prepaid travel expenses with your Chase Sapphire Preferred card to qualify for this perk.

Baggage delay insurance

It’s never fun to arrive at a destination without your luggage, leaving you with no choice but to purchase clothing, toiletries and other essential supplies. The baggage delay insurance this card offers reimburses you up to $100 per day for up to five days when a baggage delay of at least six hours occurs.

You must pay for your travel expenses with a common carrier using your Chase Sapphire Preferred card for this coverage to apply.

Trip delay reimbursement

If your trip is delayed for a covered reason that’s beyond your control, such as your flight being delayed once you’re already at the airport, you can qualify for coverage for unreimbursed expenses in amounts up to $500 per ticket. The delay must be for more than 12 hours or require an overnight stay. Note, this reimbursement is mostly intended for meals and lodging.

Like other Chase Sapphire benefits, you have to pay for travel expenses with a common carrier using your card for this coverage to apply.

Additional Chase Sapphire Preferred benefits

Complimentary DashPass subscription

Sapphire Preferred cardholders get complimentary access to DoorDash DashPass, which means no delivery fees and lower service fees on eligible orders for a minimum of one year, when you activate by Dec. 31, 2024.

Purchase protection

The Sapphire Preferred comes with purchase protection against damage or theft that can reimburse you when a covered item you purchased needs repair or replacement within the defined coverage timeline of 120 days. This coverage caps out at $500 per claim and $50,000 per account.

Note that this protection is good for items purchased by the cardholder and for items purchased by the cardholder but gifted to someone else.

Extended warranties

Finally, don’t forget about the Chase Sapphire Preferred’s extended warranty protection, which adds another year to the U.S. manufacturer’s warranty on eligible warranties of three years or less. This coverage is good for items that come with a standard manufacturer’s warranty to begin with, and you must pay for the item using your credit card for the extended warranty to apply.

The warranty amount is good for up to $10,000 in coverage per claim and up to $50,000 per account.

The bottom line

It’s easy to see why the Chase Sapphire Preferred is considered one of the best travel credit cards. If you’re interested in a rewards card that offers plenty of valuable benefits for a modest annual fee, the Sapphire Preferred is a good pick.

Before you decide, be sure to compare it to other Chase rewards cards that offer similar cardholder perks and benefits. For example, the Chase Sapphire Reserve® offers even more types of coverage and perks compared to the Chase Sapphire Preferred, just for a higher annual fee.

Make sure to evaluate the pros and cons of each card, as well as the overall requirements and benefits you may qualify for, before you decide which option is right for you.