
Rewards rate
2x - 5x5x on travel purchased through Chase Ultimate Rewards® 3x on dining 2x on all other travel purchases, plus more
Annual fee
Intro offer
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Pay over time APR
Regular APR
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.
Chase Sapphire Preferred® Card Overview
The Chase Sapphire Preferred Card is one of the best travel credit cards on the market, thanks to its low annual fee, generous rewards structure and various travel protections. Boasting new and improved bonus categories, a $50 annual hotel stay credit through Chase and a 10 percent point match-style anniversary bonus, the Sapphire Preferred should offer excellent value to everyday spenders and rewards experts alike.
And though it lacks some of the robust perks found in more premium travel cards, like travel credits worth hundreds of dollars, the card should be a good fit for travelers looking to earn rewards on their flights and hotel stays without a hefty annual fee.
What are the pros and cons?
Pros
-
This card does not charge foreign transaction fees, which is beneficial if you travel overseas frequently.
-
Compared with other travel rewards cards of this caliber, it has a relatively low annual fee of $95.
-
The card has a 1:1 point transfer ratio and an impressive airline and hotel transfer partner list.
-
You could get a 25 percent value boost to points redeemed for travel via Chase Ultimate Rewards.
Cons
-
There are no introductory APR offers on purchases or balance transfers with this card.
-
It lacks some premium travel perks, such as free checked bags and airport lounge access.
A deeper look into the current card offer
Quick highlights
- Rewards Rate: 3X points on dining (including eligible delivery services), select streaming services and online grocery purchases (excluding Walmart, Target and wholesale clubs); 5X points on travel through Chase Ultimate Rewards and Lyft Rides (Lyft offer through March 31st, 2025); 2X points on other travel; 1X points on other purchases.
- Welcome Offer: Earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening
- Annual Fee: $95
- Purchase Intro APR: None
- Balance Transfer Intro APR: None
- Regular APR: 21.24 percent to 28.24 percent variable
Current welcome offer
The current welcome offer for the Chase Sapphire Preferred weighs in at 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. That’s equivalent to $750 when you redeem through Chase Ultimate Rewards®. While this isn't one of the card's highest-ever sign-up bonuses, it still beats out the bonus offered on several competing travel cards.
If you have a trip on the horizon or are eager to start saving up points, the current offer could be a great reason to apply for the card. That said, the card recently offered an 80,000-point bonus with the same spending requirement, so if you're in no rush to earn points, it may be worth waiting to see if a higher offer pops up.
Rewards rate
The Preferred card’s rewards program is a powerhouse, offering Chase Ultimate Rewards points on travel, dining and select everyday expenses. And since you can get 25 percent more value when you redeem rewards for booking travel with Chase, Chase points are some of the most valuable around. They’re also versatile and can be transferred to airline and hotel partners, other cards that earn Chase Ultimate Rewards and even other members of your household.
How you earn
The Chase Sapphire Preferred earns an impressive 5X points on travel booked through Chase Ultimate Rewards and 2X points on all other travel. The card also gives you a chance to earn bonus rewards for purchases made in some popular everyday categories: You’ll earn 3X points on dining, select streaming services and online grocery shopping (excluding wholesale clubs and superstores like Walmart and Target).
Cardholders earn 1X points on any purchases that fall outside of these categories. There’s no cap on the number of points you can receive in all of these categories, so the Sapphire Preferred has solid potential to be your primary credit card.
Enterprising cardholders can earn extra Ultimate Rewards points in a few ways. If you have any friends considering the Chase Sapphire Preferred, you may be able to take advantage of the 15,000-point referral bonus if they’re approved. This method could be an easy way to earn up to 75,000 more points, through up to five referrals per year. The Chase Offers card-linked program is another solid way to earn an extra helping of rewards in exchange for a little bit more hard work while you’re online shopping — which complements the online grocery shopping category quite well.
How to redeem
You can redeem Chase Ultimate Rewards points earned with the Sapphire Preferred for travel, 1:1 airline and hotel transfer partners, cash back, statement credits, gift cards, merchandise (including Apple product purchases) and Chase Experience events.
You can also use your points at the checkout screen on Amazon.com and PayPal for a lower value (0.8 cents apiece), but we recommend sticking to cash back if you’re not putting points toward travel through Chase.
How much are the rewards worth?
Chase Ultimate Rewards points redeemed for cash back are worth 1 cent apiece, while points redeemed toward travel via the Chase Ultimate Rewards portal are worth 25 percent more (1.25 cents apiece).
According to our most recent valuation, Chase Ultimate Rewards points carry as much as 2 cents per piece market value when used toward transfer-partner travel via the Chase Ultimate Rewards portal. Either way, Chase guarantees a 1:1 value currency-to-currency when you transfer your points to a partner airline or hotel loyalty program, including:
- Aer Lingus AerClub
- British Airways Executive Club
- Emirates Skywards
- Flying Blue/Air France-KLM
- Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards
- United MileagePlus
- Virgin Atlantic Flying Club
- IHG Rewards Club
- Marriott Bonvoy
- World of Hyatt
Other cardholder perks
The Preferred card comes with valuable features, including travel coverage, boosted points value for travel redemptions, partner perks and annual bonuses. Here’s what you need to know about Sapphire Preferred’s benefits.
Travel coverage and protections
The Sapphire Preferred includes a wealth of travel-specific coverage and protections, including these:
- Trip cancellation and interruption insurance of up to $10,000 per person and $20,000 per trip, which covers non-refundable travel costs like flights, hotels or site-seeing tours.
- Baggage delay insurance of up to $100 per day for five days, which covers any essential purchases needed (such as clothing, toothpaste, shampoo) for baggage delays of six hours or more.
- Auto rental collision damage waiver for rentals purchased with your Sapphire Preferred card, which covers theft and collision damage for up to the rental car’s cash value.
- Trip delay reimbursement of up to $500 per ticket for travel held back more than 12 hours (or that which subsequently needs an overnight stay).
- 24/7 travel and emergency assistance services for the Sapphire Preferred cardholder, their spouse and any children under 22.
25 percent points-value boost for travel redemption
One of the top perks of the Sapphire preferred is the extra value you can wring from the Chase Ultimate Rewards portal.
By redeeming your points for travel through the Chase Ultimate Rewards portal — including plane tickets, hotels, car rentals and cruise vacations — your points are worth 25 percent more. For example, if you took your welcome bonus and redeemed it for airfare via Chase Ultimate Rewards, your points would be worth $750 rather than just $600 if they held a standard 1-cent-per-point value.
When you factor in the additional option to transfer points to partner airlines and hotels, your points’ potential value only increases.
Annual account anniversary bonus points and credits
Two of the most valuable perks in the Preferred card’s new batch of features are its recurring bonuses. New cardmembers will get up to $50 back each year in statement credits for hotel stays purchased through Chase Ultimate Rewards, but note that existing cardmembers will have to wait until their next account anniversary to receive this annual credit.
The $50 annual hotel stay credit is certainly appealing, but you’ll also be able to squeeze more value out of the new 10 percent anniversary point bonus: 10 percent points on your total combined spending in points from the previous year will automatically be added to your rewards balance on each account anniversary.
Reward matching-style bonuses are rare, and Discover’s first-year cash back match is the most popular (and only) offer we’ve seen in recent memory. These types of bonuses can be pretty significant for big spenders, but even average budgets can earn a decent amount of points from this annual offer. Bureau of Labor Statistics spending data suggests that the average annual yearly spend is $15,900, which would net 1,590 Ultimate Rewards points worth up to a savory $318 (based on our 2-cent point valuation) in travel each year.
Free year of DoorDash DashPass
Chase’s partnership with DoorDash allows you to get a full free year of DoorDash DashPass, a subscription service that provides unlimited deliveries with no delivery fee and reduced service fees for orders $12 and more. Food delivery perks this generous in addition to the roster of benefits the Sapphire Preferred already carries is significant, so make sure you take advantage of this offer by its December 31, 2024, deadline.
Added points on Lyft rides
Through March 31, 2025, Sapphire Preferred cardholders can earn an additional 3X points on Lyft rides (on top of the 2X already earned in the general travel category) for a total of 5X points per qualifying Lyft purchase.
This unlimited category can bring you immense value if you do a lot of commuting via rideshare services. In fact, the Chase Sapphire Preferred is one of the best cards for Lyft. Keep in mind Lyft bikes and scooters also count toward this category.
Rates and fees
The Sapphire Preferred has a fairly low $95 annual fee, making the card much more accessible than the Sapphire Reserve and its $550 annual fee. The Preferred card’s fee is easy to recoup through your normal rewards spending. You can offset the $95 fee by only spending $132 per month across your 3X categories.
The card doesn’t charge foreign transaction fees for purchases made outside of the U.S., unlike some other cards that charge 3 percent per foreign transaction. If you take any trips overseas or shop with an international merchant, you won’t rack up additional charges each time you use your Sapphire Preferred card.
However, you won’t receive an introductory APR on purchases or balance transfers, but that’s expected with travel-focused credit cards. If you happen to carry a balance, the ongoing APR is now 21.24 percent to 28.24 percent variable, the lower end only slightly higher than the average current credit card interest rate.
If you’re interested in a card option involving introductory APR periods, visit Bankrate’s best balance transfer credit cards and best zero-interest credit cards pages.
How the Chase Sapphire Preferred compares to other travel credit cards
It’s hard for many cards to strike a balance between rewards and benefits like the Sapphire Preferred does — not to mention the quality sign-up bonus for the card’s price tag — but a few cards hold their own against the Sapphire Preferred when it comes to annual fees, rewards structures, welcome bonuses and introductory APR offers. Here are a few of our favorites.

Annual fee
Intro offer
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Rewards rate
5x on travel purchased through Chase Ultimate Rewards® 3x on dining 2x on all other travel purchases, plus more
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
New Venture cardholders can earn 75,000 miles once they spend $4,000 on purchases within 3 months from account opening
Rewards rate
5 Miles per dollar on hotels 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 you spend $4,000 in purchases within the first 3 months of account opening
Rewards rate
Earn 3 Points per $1 spent at Gas Stations, Air Travel and Other Hotels Earn 3 Points per $1 spent at Restaurants and Supermarkets 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.
Chase Sapphire Preferred vs. Capital One Venture card
While the Chase Sapphire Preferred offers terrific flexibility and versatility, it could still leave plenty of rewards on the table. For example, miscellaneous expenses like your insurance bill or a new laptop will only earn you 1 point per dollar. If you aren’t sure whether your spending habits line up with those of the Sapphire Preferred, you may have more luck maximizing your rewards with a simple, flat-rate rewards card like the Capital One Venture Rewards Credit Card.
The Venture card’s unlimited 2X rewards rate on all spending makes stockpiling rewards an easy decision. You’ll earn at the same rate on all eligible purchases, with no need to juggle cards or be mindful of categories. The card also gives you the flexibility to redeem miles through Capital One or for outside travel purchases without sacrificing value. As with the Sapphire Preferred, however, the Venture card features a $95 annual fee. You’ll need to spend at least $4,750 per year to offset the Venture card’s annual fee with rewards (assuming you redeem for travel).
Chase Sapphire Preferred vs. Citi Premier Card
The Citi Premier® Card not only shares a number of rewards categories with the Sapphire Preferred, but it also offers some extra options that could prove highly lucrative for the right cardholder. You’ll get a 3X rewards rate on restaurant, supermarket, gas station, hotel and air travel purchases, and unlike the Sapphire Preferred, the Premier card doesn’t require you to book travel through an issuer portal or purchase groceries online to earn bonus rewards. Plus, for a limited time, earn a total of 10 ThankYou® Points per $1 spent on hotel, car rentals, and attractions (excluding air travel) booked on the Citi TravelSM portal through June 30, 2024.
Along with its enticing rewards categories, the card stands out for its annual $100 hotel savings benefit on stays of $500 or more, which makes up for its otherwise thin set of travel perks. On the downside, your points won’t be worth more if you redeem through the Citi travel portal and depending on your travel preferences Citi’s list of transfer partners may fall short of Chase’s.
Best cards to pair with the Chase Sapphire Preferred
Given that the Sapphire Preferred is a travel card, consider pairing it with a flat-rate travel card or a cash back credit card that rewards your biggest non-travel categories — such as the Chase Freedom Unlimited®.
The Chase Freedom Unlimited is a solid no-annual-fee credit card that earns at least 1.5 percent cash back on every purchase you make, 3 percent back on dining and drugstore purchases, plus 5 percent back on Chase Ultimate Rewards travel and Lyft purchases (Lyft offer through March 2025).
By pairing the Freedom Unlimited with the Sapphire Preferred, you (at minimum) can earn 50 percent more rewards on purchases falling outside the Sapphire Preferred’s travel and restaurant dining category. Better yet, you won’t be charged a yearly fee for carrying the Freedom Unlimited.
Other Chase credit cards are your best option because of how well their categories and benefits pair together. 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.
Bankrate’s Take — Is the Chase Sapphire Preferred worth it?
The Chase Sapphire Preferred card’s upgraded dining rewards, extra bonus categories and new annual bonuses make it one of the best — if not the best — travel cards with a $95 annual fee. Indeed, the Sapphire Preferred can be rewarding for both infrequent travelers and rewards experts, thanks to its flexible rewards program and terrific card pairing options. Just be aware of the number of cards you have if you want to pair with a Chase card and make sure your monthly budget will benefit from the rewards categories.