Are you a frequent traveler looking for a credit card that can earn you rewards and provide travel benefits?
If so, the Chase Sapphire Preferred® Card might be on your list of options.
However, with an annual fee of $95, you might be wondering if it’s worth it.
In this article, we’ll take a closer look at the card’s rewards program, benefits, and fees to help you decide if the Chase Sapphire Preferred is worth it for you.
Full Review: Chase Sapphire Preferred.
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- 5x Points on Travel Booked Via Chase
- 3x Points on Dining and Eligible Delivery Services
- 2x Points on All Other Travel Purchases
- 10% Anniversary Points Boost
- Trip Delay and Trip Cancellation Insurance
- Primary Rental Car Insurance
- $95 Annual Fee
Welcome Bonus
The Chase Sapphire Preferred currently offers the following welcome bonus:
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Earning Points
The Chase Sapphire Preferred earns Ultimate Rewards points and offers bonus points on spending in several categories:
- 5 points per dollar on travel booked through the Chase travel portal;
- 5 points per dollar on Lyft purchases (through March 2025);
- 5 points per dollar on Peloton equipment and accessory purchases of $250 or more (through March 2025, with a limit of 25,000 bonus points);
- 3 points per dollar on dining, including eligible delivery services, takeout, and dining out;
- 3 points per dollar on online grocery store purchases (excludes Target, Walmart, and wholesale clubs);
- 3 points per dollar on select streaming services, including Netflix, Disney+, Spotify, Youtube TV, Pandora, Apple Music, SiriusXM, Sling, Vudu, Fubo TV, Hulu, and ESPN+;
- 2 points per dollar on all travel not booked through the Chase travel portal; and
- 1 point per dollar on all other eligible spending.
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Card Benefits
The Chase Sapphire Preferred offers nice benefits, including:
- Receive 25% more value on points redeemed for travel through the Chase Ultimate Rewards® portal.
- $50 annual credit on hotel stays purchased through Ultimate Rewards.
- 10% Points Bonus for each Cardmember anniversary.
- A complimentary one-year subscription to DashPass by DoorDash when you enroll by December 31, 2024.
- Trip cancellation and interruption insurance (up to $10,000 per person and $20,000 per trip).
- Primary car rental insurance.
- Lost luggage reimbursement (up to $3,000 per passenger)
- Baggage delay insurance (up to $100 per day for five days).
- Trip delay insurance (up to $500 per ticket for a delay longer than 12 hours or overnight).
- Extended warranty.
- 120 days purchase protection (up to $500 per claim and $50,000 per year).
- No foreign transaction fees.
- Free 6-month membership to Instacart+ (activate by July 31, 2024).
Redeeming Points
The Chase Sapphire Preferred® Card earns Ultimate Rewards points, one of the most flexible points currencies.
You can use your points to book flights, hotel stays, and even rent a car through Chase Travel — all at a fixed rate of 1.25 cents per point. For example, 100,000 points are equivalent to $1,250 towards travel.
You can unlock even more value than 1.25 cents per point by transferring rewards to Chase airline and hotel partners.
Ultimate Rewards Transfer Partners [1 to 1]
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Aer Lingus
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Air Canada Aeroplan
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British Airways
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Emirates
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Air France/KLM
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Hyatt Hotels
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Iberia
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IHG Hotels
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JetBlue
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Marriott
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Singapore
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Southwest
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United
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Virgin Atlantic
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Alternatives to the Sapphire Preferred
Below are two alternatives to the Chase Sapphire Preferred.
Capital One Venture Rewards Credit Card
- Earn 75,000 Bonus Miles After Spending $4,000 Within the First Three Months
- 5x Miles on Hotels and Rental Cars via Capital One Travel
- 2x Miles Everywhere Else
- 2 Free Visits to Capital One Lounges Each Year
- Global Entry or TSA Pre-Check Credit
- Hertz 5-Star Elite Status
- Rental Car Insurance and Extended Warranty
- $95 Annual Fee
The Capital One Venture Rewards Credit Card is a travel rewards credit card that earns an unlimited 2 miles per dollar on all purchases and 5 miles per dollar on hotels and rental cars booked through Capital One Travel.
The card also comes with a range of travel benefits, including secondary rental car, no foreign transaction fees, and extended warranty coverage.
Plus, you also get two complimentary passes to visit Capital One lounges each year and an application fee credit for Global Entry or TSA PreCheck (up to a $100 credit every four years).
Citi Premier® Card
- Earn 60,000 Points After Spending $4,000 in the First 3 Months. 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 Travel℠ portal through June 30, 2024.
- 3x Points at Restaurants, Supermarkets, Gas Stations, Air Travel, and Other Hotels.
- $100 Off a Single $500 Hotel Stay Per Year
- Extended Warranty and Purchase Protections
- $95 Annual Fee
The Citi Premier® Card is the best card for earning points because it offers 3x points at:
The Premier card also comes with no foreign transaction fees, purchase protection, and an extended warranty for items purchased, adding an additional 24 months to the manufacturer’s warranty.
The Verdict
While the Chase Sapphire Preferred has an annual fee of $95, its rewards program and benefits can make it worth it for frequent travelers.
The card offers a generous sign-up bonus, a strong rewards rate on travel and dining, and valuable travel benefits such as trip cancellation and interruption insurance.
Additionally, the card’s Ultimate Rewards program allows for flexible redemption options, making it easy to use your rewards for your next trip.
Overall, if you frequently pay for travel with your credit card and take advantage of the card’s benefits, the Chase Sapphire Preferred can be a valuable tool for earning rewards and saving money on travel expenses.
- bonus_miles_full
- 5x Points on Travel Booked Via Chase
- 3x Points on Dining and Eligible Delivery Services
- 2x Points on All Other Travel Purchases
- 10% Anniversary Points Boost
- Trip Delay and Trip Cancellation Insurance
- Primary Rental Car Insurance
- $95 Annual Fee
