Chase Sapphire Preferred Card

If you’ve spent any time looking into travel credit cards, you’ve probably seen the Chase Sapphire Preferred mentioned everywhere. There’s a good reason for that. For most people who are just getting into the points and miles game, this card hits a sweet spot that’s hard to beat: strong earning rates, a generous welcome bonus, and an annual fee that won’t make you second-guess your decision.

The Sapphire Reserve gets all the glamour, sure. But at $795 a year (as of 2026), that’s a serious commitment. The Preferred gives you a big chunk of the core value for a fraction of the cost. That math works out for a lot of people.

The Welcome Bonus

As of 2026, Chase is running a limited-time 100,000 Ultimate Rewards points offer when you spend $5,000 in the first 3 months. That’s the card’s best-ever bonus, and it’s a big step up from the standard 75,000-point offer. The $5,000 spending requirement is a bit higher than some competing cards, but it’s manageable for most households if you time it right with some planned purchases. Bonus offers come and go, so check the current terms on Chase’s official product page before you apply.

Those 100,000 points are worth at least $1,000 as a baseline when you redeem through Chase Travel (at 1 cent per point), and a good bit more if you book a “Points Boost” deal or transfer to a partner. We’ve seen people get $1,500 or more in flights from a single transfer to United.

How You Earn Points

This is where the Sapphire Preferred really shines for everyday spending:

• 5X points on travel purchased through Chase Travel
• 3X points on dining at restaurants, including takeout and delivery
• 3X points on select streaming services
• 3X points on online grocery purchases (not including Target, Walmart, or wholesale clubs)
• 3X points on gas and EV charging stations (added in the 2026 refresh)
• 3X points on vacation rentals like Airbnb and Vrbo (also new for 2026)
• 2X points on all other travel purchases
• 1X point on everything else

The 3X on dining is the standout here. If you eat out a couple of times a week or order delivery regularly, those points stack up fast. The 2026 refresh sweetened the deal by adding 3X on gas, EV charging, and vacation rentals. And unlike some cards that cap bonus categories, there’s no spending limit on the dining or travel multipliers.

What Your Points Are Actually Worth

Chase Ultimate Rewards points are consistently ranked among the most valuable credit card currencies, and for good reason. With the Sapphire Preferred, you have several ways to use them:

Through Chase Travel: Chase moved to a system called Points Boost in 2025, so the old flat 1.25 cents per point is gone. The base rate is now 1 cent per point, but select “Points Boost” hotels and flights bump that up to roughly 1.5 cents each. The upside is more value on the right bookings; the downside is you have to shop around instead of counting on a fixed rate.

Transfer to Partners: This is where things get interesting. Chase has more than a dozen airline and hotel transfer partners, including United, Southwest, British Airways, and Air France/KLM. Most transfer at a 1:1 ratio, and with smart booking, you can get 2 cents or more per point.

Cash Back: You can redeem for 1 cent per point as a statement credit. It works, but you’re leaving value on the table compared to travel redemptions.

One thing to flag for 2026: Chase cut the World of Hyatt transfer ratio on the Preferred from 1:1 to 4:3, which is about a 25% hit. New applicants get the new ratio right away, and existing cardholders move to it on October 1, 2026. Hyatt is still a strong use of points, just not the slam dunk it used to be on this card. If Hyatt is your main reason for picking up a Sapphire, the Reserve keeps the 1:1 ratio.

The $100 Hotel Credit

The 2026 refresh doubled the old $50 hotel credit to a $100 annual hotel credit when you book through Chase Travel. It applies once each account anniversary year, which more than offsets the $95 annual fee on its own. You’d probably book a hotel at some point anyway, so this is pretty much free money.

Travel Protections That Actually Matter

The Sapphire Preferred comes with some genuinely useful insurance benefits that can save you hundreds of dollars:

• Primary rental car coverage worldwide. This is a big deal. “Primary” means it kicks in before your personal auto insurance, so you won’t have to file a claim with your own insurer. Most cards only offer secondary coverage.
• Trip cancellation/interruption insurance up to $10,000 per person and $20,000 per trip. If you get sick before a trip or your flight gets cancelled, this can reimburse your non-refundable expenses.
• Baggage delay insurance covers up to $100 per day for 5 days if your bags are delayed by 6 or more hours.
• No foreign transaction fees. You won’t pay the typical 3% surcharge when using your card abroad.

These protections alone can justify the annual fee if you travel even once or twice a year. The primary rental car coverage saves you $15-30 per day that you’d otherwise spend on the rental company’s insurance.

Who Should Get This Card

The Chase Sapphire Preferred makes the most sense for:

• Travel beginners who want to start earning points without a steep annual fee
• Regular diners who eat out or order delivery frequently and want 3X back
• People who travel a few times a year and can benefit from the transfer partners and travel protections
• Anyone building toward the Chase trifecta (Sapphire Preferred + Freedom Unlimited + Freedom Flex) for maximum point earning across all spending categories

Who Should Skip It

This card probably isn’t the right fit if:

• You rarely travel or eat out. The 1X rate on general spending isn’t competitive with flat-rate cash back cards like the Citi Double Cash.
• You’re a frequent traveler with premium expectations. The Sapphire Reserve’s lounge access, higher earning rate on travel, and bigger per-point value might justify the higher fee.
• You carry a balance. With variable APRs running from about 19.24% to 29.99% as of 2026, interest charges will quickly eat into any rewards you earn. Rates move with the prime rate, so confirm the current range on Chase’s official page. Pay it off in full every month or this card works against you.

How It Stacks Up

Compared to the Amex Gold ($325/year as of 2026), the Sapphire Preferred costs less but doesn’t match the Gold’s 4X on dining and U.S. supermarkets. However, Chase’s transfer partners tend to be more useful for domestic travel, while Amex shines for international flights.

Against the Capital One Venture X ($395/year), the Sapphire Preferred is simpler and cheaper. The Venture X has lounge access and a bigger travel credit, but the Sapphire Preferred’s earning categories are more targeted if you eat out a lot.

For pure cash back with no annual fee, the Citi Double Cash gives a flat 2% on everything. Less exciting, but no fee and no hassle. It depends on whether you want to put in the effort to maximize travel points.

The Bottom Line

The Chase Sapphire Preferred is popular for a reason. It offers a generous welcome bonus, strong earning rates on categories most people spend in, genuinely useful travel protections, and access to one of the best points programs in the business. The $100 hotel credit alone more than covers the $95 annual fee, before you even count the rental car coverage and the point earnings.

If you’re looking for your first serious travel rewards card, or you want a solid all-rounder that doesn’t require you to spend $400+ in annual fees, the Sapphire Preferred is tough to beat. It’s been our top recommendation for years, and that hasn’t changed.