The Chase Sapphire Preferred® Card is one of the most popular travel rewards cards because it offers nice welcome bonus and extra points on travel and dining, which can be transferred to airline and hotel partners or redeemed directly for travel at a rate of 1.25 cents per point through Chase Travel℠. The Sapphire Preferred also offers great travel and purchase protections for a card with a $95 annual fee.
This credit card review will cover everything you need to know about this card to determine if you should add this card or a different card to your wallet. Let’s dive right in.
Welcome Bonus of Chase Sapphire Preferred
Let’s begin with one of the most attractive aspects of the Chase Sapphire Preferred: the welcome bonus. Currently, new cardholders can earn the following welcome bonus: Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months.
However, as someone who has maximized this bonus in the past, I can tell you that transferring points to Chase’s airline and hotel partners can potentially yield even greater value.
In my experience, the welcome bonus can cover a round-trip flight or a multi-night stay at a luxurious hotel. It’s an excellent opportunity to kickstart your travel rewards adventure and discover the amazing experiences that lie ahead.
Related: Chase Sapphire Preferred’s Bonus History.
Welcome Bonus Eligibility
You may not be eligible for a welcome bonus if either of these apply:
- You currently have a Chase Sapphire Preferred or Chase Sapphire Reserve®; OR
- You received a welcome bonus on either the Chase Sapphire Preferred or Sapphire Reserve in the last 48 months.
For example, if you received a welcome bonus on the Chase Sapphire Preferred or Sapphire Reserve in January 2024, you would need to wait until February 2028 to be eligible for a new bonus and also cancel your existing Sapphire card before you apply.
Related: Can you get the Chase Sapphire Preferred Bonus twice?
Chase Application Rules
Chase has two application rules that you should be aware of when you apply for a card:
5/24 Rule: Chase will automatically deny you for most Chase cards under their 5/24 Rule if you have opened five or more personal cards in the last 24 months.
Application Timing: Chase will typically approve you for a maximum of two personal cards every 30 days, and one business card every 30 days.
Earning Points with Chase Sapphire Preferred
The Chase Sapphire Preferred earns Ultimate Rewards points and offers bonus points on spending in several categories:
As someone who frequently dines out and books travel, these bonus categories have allowed me to accumulate points rapidly. Whether enjoying a meal at a local restaurant or booking a flight for my next adventure, I know I’m earning valuable Ultimate Rewards points that will help fund future trips.
But the rewards don’t end there. The Chase Sapphire Preferred also offers a 10% anniversary points bonus each year based on your total spending during the previous account anniversary year. This means that if you spent $20,000 on your card in the past year, you’ll receive an additional 2,000 points on your account anniversary. It’s a nice way to earn a little extra just for using your card regularly.
Annual Fee of Chase Sapphire Preferred
The Chase Sapphire Preferred has a $95 annual fee, which may give some people pause. However, as a frequent traveler, I’ve found that the card’s benefits and rewards can easily offset this cost. Think about it this way: if you take advantage of the welcome bonus and redeem those points for travel, you’ve already recouped the annual fee many times over. Plus, the ongoing rewards and perks like travel insurance, hotel credit, and no foreign transaction fees can save you money and provide peace of mind during your trips.
In my opinion, the annual fee is a small price to pay for the value the Chase Sapphire Preferred offers. It’s an investment in your travel lifestyle that can pay dividends through unforgettable experiences.
Card Benefits of Chase Sapphire Preferred
The Chase Sapphire Preferred offers nice benefits, including: 10% Points Bonus: You will earn bonus points equivalent to 10% of your total spending in points earned with your Chase Sapphire Preferred Card during the past account anniversary year. For example, if you spent $10,000 during your cardmember year, you would receive an additional 1,000 points ($10,000 * 10% = 1,000 points). $50 Hotel Credit: The Chase Sapphire Preferred card offers up to $50 in statement credits every account anniversary year if you book your hotel stays through Chase Travel. DashPass Membership: This card offers a one-year DashPass membership for free, which includes DoorDash and Caviar, offering unlimited deliveries with free delivery fees and reduced service fees for eligible purchases. The offer must be activated by December 31, 2027. Once the free membership is over, you will be automatically enrolled in DashPass at the prevailing monthly rate. Instacart Membership: Have your groceries delivered to your doorstep with a complimentary 6-month Instacart+ membership plus a $15 credit once every quarter. Enrollment is required by July 31, 2024. No Foreign Transaction Fees: You’ll save money on every purchase while traveling internationally since this card doesn’t add the typical 3% surcharge that many other cards impose. Primary Rental Car Insurance: When you rent a car and pay with this card, you’ll receive comprehensive coverage including damage and theft protection. Simply decline the rental company’s collision damage waiver and charge the entire rental to your card to activate coverage. This insurance covers damage, theft, and valid loss-of-use charges worldwide. Trip Cancellation & Interruption Insurance: This protection reimburses you for non-refundable, prepaid travel expenses if you need to cancel before departure or cut your trip short due to covered situations like severe illness or weather events. Coverage activates when you pay for your trip with the card, but it’s important to note that reimbursement only applies for specific covered reasons rather than any cancellation. Trip Delay Insurance: When your trip is significantly delayed due to covered reasons like equipment failures or severe weather, this protection reimburses you for reasonable expenses including lodging, meals, toiletries, and medication. The coverage activates when you pay for travel with your card and extends to family members on the same itinerary, though you’ll need to seek reimbursement from the travel carrier first. Lost Luggage Reimbursement: Your checked luggage gets extra protection against loss, theft, or damage beyond the basic compensation offered by carriers when you pay for travel with this card. Baggage Delay Insurance: Missing luggage doesn’t have to derail your trip – this coverage steps in to reimburse you for essential purchases when your checked bags are delayed by airlines, trains, or other carriers. You can grab the necessities you need, from a fresh outfit to personal care items, while waiting for your bags to arrive. 120-Day Purchase Protection: Get 120 days of protection against damage, theft, and even loss of your purchases – one of the longest windows available. This premium coverage automatically applies when you pay with your card. Extended Warranty Protection: Your purchases gain an extra year of warranty protection when bought with this card, extending manufacturer warranties of three years or less without the inflated prices of store warranty plans.
Travel Benefits
Purchase Benefits
Redeeming Points with Chase Sapphire Preferred
The Chase Sapphire Preferred offers exceptional flexibility when it comes to points redemption, allowing you to create the travel experiences you’ve been dreaming of. One popular redemption option is booking travel through the Chase Travel portal. Here, your points are worth 1.25 cents apiece, meaning that a substantial amount of points can be redeemed for a significant value towards travel. I’ve used this option to book flights, hotels, and rental cars, and I appreciate the simplicity of the process. Plus, when you book through the portal, you can still earn airline miles and hotel points on your reservations. If you’re looking to stretch your points even further, transfer to Chase’s airline and hotel partners. Some notable transfer partners include United Airlines, Southwest Airlines, British Airways, Air France/KLM, Hyatt, and Marriott. By strategically transferring points, you can unlock incredible redemption opportunities like first-class flights or luxurious resort stays. In my experience, transferring points to Hyatt has yielded some of the most valuable redemptions. By leveraging my Ultimate Rewards points, I’ve booked top-tier properties like the Park Hyatt Paris-Vendôme and the Andaz Maui at Wailea Resort for a fraction of the cash price. Of course, if you’re not in the mood for travel, you can always redeem your points for statement credits or gift cards at a rate of 1 cent per point. While this may not provide the most bang for your buck, it’s a decent option to have for those times when you need a little extra cash in your pocket.
Ultimate Rewards Transfer Partners [1 to 1]
|
||
|---|---|---|
Aer Lingus
|
Air Canada Aeroplan
|
|
Air France/KLM
|
British Airways
|
|
Emirates
|
Hyatt Hotels
|
|
Iberia
|
IHG Hotels
|
|
JetBlue
|
Marriott
|
|
Singapore
|
Southwest
|
|
United
|
Virgin Atlantic
|
|
Pros & Cons of the Sapphire Preferred
Here are the advantages and disadvantages of this card:
Pros
Generous Welcome Bonus: The current welcome bonus offer provides significant value when redeemed for travel or transferred to partners.
Valuable Travel and Dining Bonus Categories: Earning bonus points on travel, dining, and select streaming services can help you accumulate points quickly.
Flexible Point Redemption Options: Whether you prefer to book through the Chase Travel portal, transfer to partners, or redeem for statement credits, the Sapphire Preferred has you covered.
Solid Travel Protection Benefits: From trip cancellation insurance to primary rental car coverage, this card offers peace of mind when you’re on the go.
No Foreign Transaction Fees: Avoid unnecessary fees when using your card abroad, saving you money on international trips.
Cons
$95 Annual Fee: While the benefits can offset the cost, the annual fee may deter infrequent travelers.
No Luxury Travel Perks: If you’re looking for premium benefits like airport lounge access or travel credits, you may want to consider a higher-end card like the Chase Sapphire Preferred® Card.
Requires Excellent Credit for Approval: To qualify for the Chase Sapphire Preferred, you’ll typically need a credit score in the good to excellent range (720+).
Alternative Cards for the Chase Sapphire Preferred
Now that you know about this credit card’s various benefits and pros and cons, it’s time to see its alternatives.
Chase Sapphire Reserve®
The Chase Sapphire Reserve® (review) offers premium travel benefits including lounge access, hotel elite status, and multiple statement credits that can offset its $795 annual fee. With bonus earnings on travel and dining purchases plus the ability to transfer points to 14 airline and hotel partners, this card delivers strong value for frequent travelers who can maximize its benefits. Welcome Bonus: bonus_miles_full Earning Rewards: 10x points on Hotels (excluding The Edit) and car rentals and 5x points on flights through Chase Travel after the first $300 is spent on travel purchases annually; 10x points on Chase Dining purchases with Ultimate Rewards; 3x points on dining at restaurants, including eligible delivery services, takeout, and dining out; 3x points on other travel after the first $300 is spent on travel purchases annually; 1x points on other eligible spending. Card Benefits: $300 annual travel credit, Priority Pass airport lounge membership with unlimited visits, Global Entry or TSA PreCheck® or NEXUS application fee credit of up to $120 every four years, no foreign transaction fees, travel insurance (primary rental car, trip delay, trip cancellation, travel accident, lost luggage, and baggage delay), purchase protection, return protection, and extended warranty. Transfer Partners: Aer Lingus, Air Canada Aeroplan, British Airways, Emirates, Air France KLM Flying Blue, Hyatt, IHG, Iberia, JetBlue, Marriott, Singapore KrisFlyer, Southwest, United, and Virgin Atlantic.
American Express® Gold Card
The American Express® Gold Card (review) is a great card for earning points at restaurants, U.S. supermarkets, and flights booked directly with airlines. Cardholders can also enjoy up to $424 in annual credits and nice travel and purchase protections. Earning Points: 4x points at restaurants worldwide, on up to $50,000 in purchases per calendar year (then 1x points); 4x points at U.S. supermarkets on up to $25,000 in purchases per calendar year (then 1x points); 3x points on flights booked directly with airlines or on AmexTravel.com; 2x points on prepaid hotels and other eligible purchases booked on AmexTravel.com; 1x points on all other eligible purchases. Benefits: Transfer Partners: Aer Lingus, AeroMexico, Air Canada Aeroplan, ANA, Avianca LifeMiles, British Airways, Cathay Pacific, Choice Privileges, Delta, Emirates, Etihad, Air France – KLM Flying Blue, Hawaiian Airlines, Hilton, Iberia, JetBlue, Marriott, Qantas, Qatar Airways, Singapore KrisFlyer, and Virgin Atlantic.
Capital One Venture Rewards Credit Card
The Capital One Venture Rewards Credit Card (review) offers 2x miles on every purchase and flexible redemption options through transfer partners or travel statement credits. This card shines with its straightforward rewards structure and useful travel benefits, making it a solid choice for both beginners and experienced travelers. Welcome Bonus: LIMITED-TIME OFFER: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening – that’s equal to $1,000 in travel. Earning Rewards: 5x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel; 2x miles on all other eligible purchases. Card Benefits: Global Entry or TSA PreCheck Credit, no foreign transaction fees, secondary rental car insurance, extended warranty, and lost luggage reimbursement. Transfer Partners: Accor (2 to 1), Aeromexico, Air Canada Aeroplan, Air France-KLM Flying Blue, Avianca LifeMiles, British Airways, Cathay Pacific, Choice Privileges, Emirates, Etihad, Finnair, I Prefer Hotels (1 to 2), Japan Airlines(2 to 1.5), JetBlue (5 to 3), Qantas, Qatar, Singapore KrisFlyer, TAP Air Portugal, Turkish Airlines, Virgin Red, and Wyndham Rewards.
Chase Sapphire Preferred vs Other Cards
- Chase Sapphire Preferred vs. Amex Gold
- Chase Sapphire Preferred vs. Amex Green
- Chase Sapphire Preferred vs. Amex Platinum
- Chase Sapphire Preferred vs. Amex Blue Cash Preferred
- Chase Sapphire Preferred vs. Amex Hilton Surpass
- Chase Sapphire Preferred vs. Delta Gold Amex
- Chase Sapphire Preferred vs. Delta Platinum Amex
- Chase Sapphire Preferred vs. Apple Card
- Chase Sapphire Preferred vs. Bank of America Premium Rewards
- Chase Sapphire Preferred vs. Bank of America Alaska Visa
- Chase Sapphire Preferred vs. Barclays JetBlue Plus
- Chase Sapphire Preferred vs. Bilt Rewards
- Chase Sapphire Preferred vs. Capital One Savor
- Chase Sapphire Preferred vs. Capital One Quicksilver
- Chase Sapphire Preferred vs. Capital One Venture X
- Chase Sapphire Preferred vs. Chase Amazon Prime Visa
- Chase Sapphire Preferred vs. Chase Freedom Unlimited
- Chase Sapphire Preferred vs. Chase IHG Premier
- Chase Sapphire Preferred vs. Chase Ink Preferred
- Chase Sapphire Preferred vs. Chase Marriott Bonvoy Boundless
- Chase Sapphire Preferred vs. Chase Marriott Bonvoy Bold
- Chase Sapphire Preferred vs. Chase Southwest Premier
- Chase Sapphire Preferred vs. Chase United Explorer
- Chase Sapphire Preferred vs. Citi Premier
- Chase Sapphire Preferred vs. Citi AAdvantage Platinum
- Chase Sapphire Preferred vs. Citi Costco Visa
- Chase Sapphire Preferred vs. Discover It
- Chase Sapphire Preferred vs. PenFed Pathfinder
- Chase Sapphire Preferred vs. Wells Fargo Autograph
Is the Chase Sapphire Preferred Worth It?
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.
Frequently Asked Questions
Is the Chase Sapphire Preferred Metal?
Yes, the Chase Sapphire Preferred is a sleek metal card that adds a touch of luxury to your wallet. The card’s weight and design make it a conversation starter when you hand it over to make a purchase. Plus, the metal construction makes it more durable than traditional plastic cards.
What Credit Score Do You Need?
To be approved for the Chase Sapphire Preferred, you’ll generally need a good to excellent credit score, typically a FICO score of 720 or higher. Remember that credit score is just one factor in the approval process, and other aspects of your credit profile, such as income and debt-to-income ratio, will also be considered. If you’re not quite at the 720 mark, focus on paying your bills on time, keeping your credit utilization low, and avoiding new credit inquiries to help boost your score.
Any Limits to How Many Ultimate Rewards Points You Can Earn?
One of the great things about the Chase Sapphire Preferred is that there are no caps on the number of Ultimate Rewards points you can earn. Whether you’re a frequent traveler or use your card for everyday purchases, you can keep racking up points without worrying about hitting a limit. This means you can continue to earn valuable rewards year after year, making the card a great long-term addition to your wallet.
Do My Chase Ultimate Rewards Points Expire?
If you keep your Chase Sapphire Preferred account open and in good standing, your Ultimate Rewards points will never expire. This means you can take your time accumulating points and redeem them when you’re ready for your next big trip. However, if you decide to close your account, be sure to redeem your points first, as they will disappear once the account is closed. If you’re not ready to travel yet, consider transferring your points to one of Chase’s airline or hotel partners, where they may have a different expiration policy.
What is the Chase 5/24 Rule?
The Chase 5/24 rule is an unofficial guideline that can impact your ability to be approved for Chase credit cards. Essentially, if you’ve opened 5 or more credit cards (from any issuer) within the past 24 months, you may be declined for new Chase cards like the Sapphire Preferred. This rule applies to most Chase cards, not just the Sapphire Preferred. If you’re over the 5/24 limit, you may need to wait until some of your recent credit card accounts age past the 24-month mark before applying for the Sapphire Preferred.
Does the Chase Sapphire Preferred Get You Into Airport Lounges?
Unfortunately, the Chase Sapphire Preferred does not include airport lounge access. If this is a priority for you, consider the Chase Sapphire Reserve®, Capital One Venture X Rewards Credit Card, or American Express Platinum Card® that offer lounge benefits. These cards typically have a higher annual fee, but the lounge access and other premium perks can be well worth it for frequent travelers.
For rates and fees of the American Express® Gold Card, please click here. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
