Chase Sapphire Preferred Review: Travel Rewards, Benefits, and Fees
The Chase Sapphire Preferred® Card is one of the better-known travel rewards credit cards in the United States. It combines flexible Chase Ultimate Rewards® points with travel benefits and everyday bonus categories while keeping its annual fee at a relatively moderate $95.
For travelers who want more than a basic cash-back card but do not necessarily need the features of a high-fee premium card, the Sapphire Preferred offers an interesting middle ground.
Quick Overview
The Chase Sapphire Preferred currently earns:
- 5X points on purchases through Chase Travel
- 3X points on dining worldwide
- 3X points on gas and EV charging
- 3X points on eligible vacation homes
- 3X points on online grocery purchases
- 3X points on select streaming services
- 2X points on other travel purchases
- 1X point on other eligible purchases
The card has a $95 annual fee and does not charge foreign transaction fees.
New cardmembers may also qualify for a welcome bonus. Chase currently advertises 75,000 bonus points after spending $5,000 on purchases within the first three months, although offers can change.
How Chase Ultimate Rewards Points Work
Instead of traditional cash back, the Sapphire Preferred earns Chase Ultimate Rewards points.
Points can be used for travel through Chase Travel, redeemed for cash back and other rewards, or transferred to participating airline and hotel loyalty programs.
That transfer option is one of the main reasons travelers may consider the card.
Chase works with several major travel programs, including United MileagePlus, Southwest Rapid Rewards, Air Canada Aeroplan, Marriott Bonvoy, IHG One Rewards and others.
Most participating partners currently receive transfers at a 1:1 ratio. One notable exception is World of Hyatt, which now receives points at a 4:3 transfer ratio for newer Sapphire Preferred accounts.
Rewards Beyond Travel
Although the Sapphire Preferred is primarily a travel card, several of its higher earning categories apply to everyday spending.
Dining earns 3X points worldwide, including eligible takeout and delivery purchases.
Cardholders also earn 3X on eligible gas and EV charging purchases, online grocery purchases and select streaming services.
Eligible vacation home bookings with brands such as Airbnb and Vrbo can also earn 3X points.
This mix can make it easier to accumulate travel rewards even during months when you are not traveling.
$100 Chase Travel Hotel Credit
Cardholders can receive up to $100 in statement credits each account anniversary year for eligible prepaid hotel stays booked through Chase Travel.
For someone who already expects to book at least one hotel stay each year, this benefit can help offset the card’s $95 annual fee.
However, the reservation must meet Chase’s requirements, so it is worth comparing the price on Chase Travel with rates available directly from the hotel or through other booking platforms.
Travel Benefits and Protections
The Sapphire Preferred includes several protections that can be useful when traveling.
Eligible benefits include trip cancellation and interruption insurance, trip delay reimbursement and primary auto rental collision coverage.
The card also includes emergency evacuation and transportation coverage for qualifying situations.
In addition, cardholders can receive up to a $120 statement credit every four years toward an application for Global Entry, TSA PreCheck® or NEXUS.
Because the card has no foreign transaction fees, it can also be more convenient for purchases made while traveling internationally.
Is the $95 Annual Fee Worth It?
Whether the Sapphire Preferred is worth keeping depends largely on how you use its benefits.
The $100 annual Chase Travel hotel credit alone can potentially offset the annual fee for someone who would have booked an eligible hotel stay anyway.
Travelers may also find additional value in point transfers, travel protections and higher rewards on dining, travel, gas and other categories.
Someone who rarely travels and mainly wants straightforward cash back, however, may be better served by a no-annual-fee card.
Who Is the Chase Sapphire Preferred Best For?
The Sapphire Preferred may be a good choice for people who want to start earning flexible travel rewards without paying the much higher annual fees associated with premium travel cards.
It can be particularly appealing to travelers who use airline or hotel loyalty programs and want the ability to transfer their Chase points.
Final Thoughts
The Chase Sapphire Preferred combines flexible travel points, useful bonus categories, travel protections and a $95 annual fee.
Its value is strongest for people who travel enough to use the benefits but do not necessarily need a luxury travel card.
If you are considering the Chase Sapphire Preferred, review the latest welcome offer, rewards, rates, benefits and eligibility requirements directly on Chase’s official website before applying.
Credit card offers, rewards, APRs, fees and benefits may change. Always review the latest terms provided by Chase before applying.
