Chase Sapphire Preferred review 2024: A traveler’s delight packed with perks at a low annual fee
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Updated 4:56 p.m. UTC March 29, 2024
Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors' opinions or evaluations. Please view our full advertiser disclosure policy.
The Chase Sapphire Preferred® Card offers generous rewards on travel and dining and a straightforward redemption program. It’s an excellent choice for both frequent and aspiring travelers looking to maximize their everyday spending.
Editor’s Note: This article contains updated information from a previously published story.
Why trust our credit card experts
Our team of experts evaluates hundreds of credit cards and analyzes thousands of data points to help you find the best card for your situation. We use a data-driven methodology to determine each rating. Advertisers do not influence our editorial content. You can read more about our methodology below.
- 50+ cards analyzed.
- 8 data points considered.
- 5-step fact-checking process.
Chase Sapphire Preferred® Card
Chase Sapphire Preferred basics
- Annual fee: $95.
- Welcome bonus: 60,000 points after spending $4,000 on purchases in the first three months of account opening.
- Rewards: 5 points per $1 on travel purchased through Chase Travel℠, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchasess.
- APR: 21.49% to 28.49% variable APR on purchases and balance transfers.
- Other perks and benefits: $50 annual Chase Travel hotel credit, six months Instacart+ subscription, complimentary DoorDash DashPass subscription for a year.
- Does the issuer offer a preapproval tool? Yes.
- Recommended credit score: Good to excellent.
Pros
- Generous category bonuses: The Sapphire Preferred earns 5 points per $1 on travel purchased through Chase Travel℠, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases.
- Excellent redemption options: The card earns Chase Ultimate Rewards® points, which you can transfer to more than a dozen airline and hotel options. They include Hyatt, United, JetBlue and others. Alternatively, you can redeem points for travel through the Chase Travel portal at 1.25 cents each.
- Valuable travel benefits: The Sapphire Preferred offers a $50 annual hotel credit when booked through Chase Travel. The card also offers valuable travel protections including trip cancellation/interruption insurance, trip delay reimbursement, primary rental car insurance and baggage delay insurance.
Cons
- $95 annual fee: The Sapphire Preferred’s $95 annual fee is reasonable for what the card offers, but cardholders should analyze the value they’re likely to get from the Sapphire Preferred’s rewards and benefits to ensure they’re getting their money’s worth.
- No elite travel perks. The card doesn’t offer benefits found on some other, more premium travel credit cards like airport lounge access, hotel perks or trusted traveler application fee credits.
- Chase 5/24 rule: The card is subject to Chase’s 5/24 rule. If you’ve opened five or more credit cards in the last 24 months with any issuer, you’re not eligible for this card.
About the Chase Sapphire Preferred
The Chase Sapphire Preferred Card is one of the most popular travel rewards cards on the market for good reason. It earns simple and generous rewards on dining and also on travel booked through the Chase Travel site. Plus it comes with valuable perks and benefits, all in a relatively low $95 annual fee package.
The card earns 5 points per $1 on travel purchased through Chase Travel℠, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases. Ultimate Rewards are flexible and can be redeemed for cash back, merchandise or gift cards. But savvy points-and-miles pros know that the more valuable use is to redeem points for travel through Chase at a rate of 1.25 cents per point or transfer them to one of Chase’s travel loyalty partners at a rate of 1:1.
There are no foreign transaction fees with this card, making it a great choice for international travelers. Plus, the card also comes with a wide array of benefits unique to a card at this price point, like trip cancellation/interruption insurance, primary car rental insurance, purchase protection and extended warranty coverage.
One potential drawback with this card is that you must have good credit to be approved, so if your credit score isn’t up to par, you may not qualify. And, someone seeking luxury perks at the airport may find that the card’s lack of lounge access or trusted traveler credits might mean it’s worth it to pay for a more premium travel credit card with those features. But for those getting started with travel rewards and those who don’t need the privileges that a more expensive credit card can offer, the Chase Sapphire Preferred is a top-notch choice.
Rewards
The Chase Sapphire Preferred Card earns points at generous rates: 5 points per $1 on travel purchased through Chase Travel℠, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases.
There’s also a welcome bonus of 60,000 points after spending $4,000 on purchases in the first three months of account opening. The rewards you earn are flexible Chase Ultimate Rewards points.
Using government data and other publicly available information, we estimate that a household in the U.S. that would be in the market for the Sapphire Preferred has an annual income of $84,352 and $25,087 in expenses they are likely to be able to charge to a credit card. Here’s a breakdown of how much you could earn from credit card spending based on that:
| SPENDING CATEGORY | SPENDING AMOUNT | POINTS PER DOLLAR | POINTS EARNED |
|---|---|---|---|
Airlines and hotels
| $2,056
| 2 | 4,112
|
Lyft rides
| $885
| 5 | 4,425
|
Dining and takeout
| $3,526
| 3 | 10,578
|
Online groceries
| $3,459
| 3 | 10,377
|
Streaming
| $564
| 3 | 1,692
|
Other
| $14,597
| 1 | 14,597
|
TOTAL
| $25,087
| 45,781
|
You could earn even more by booking your flights and hotel stays through the Chase travel portal. In that case, the $2,056 spent on such bookings, minus the $50 hotel credit would net you 10,030 points. That brings the total annual estimated earnings to 51,699 points.
Points can be redeemed for statement credits, travel through the Chase Travel portal, gift cards and merchandise. When redeemed through the Chase Travel portal for travel bookings, points are worth 1.25 cents each. However, the best value for your points will generally be to transfer them to one of Chase’s airline and hotel partners and book award travel through the partner’s loyalty program.
Be aware, travel booked through the Chase portal is not the same as booking directly with an airline or hotel, and any changes or cancellations to your plans will require you to deal with Chase Travel and not the supplier directly.
Perks
Especially considering this is a mid-tier travel card with a reasonable annual fee, the Chase Sapphire Preferred is loaded with travel benefits. First up, you can get up to $50 in statement credits each account anniversary year to reimburse hotels booked through Chase Travel. Plus, the welcome bonus is fairly generous for a card at this price point.
You also get the following travel protections when using this card:
- Trip cancellation and interruption insurance up to $10,000 per person and $20,000 per trip.
- Baggage delay insurance up to $100 per day for five days on delays over six hours.
- Trip delay insurance up to $500 per ticket on delays over 12 hours or requiring an overnight stay.
- Primary car rental insurance when you decline the rental company’s coverage.
- Referrals for legal, medical and other travel and emergency assistance (you are responsible for any costs incurred).
Last, but certainly not least, you can book travel for 25% more value per point through the Chase portal, or transfer rewards 1:1 to the following partners:
- Aer Lingus AerClub
- Air Canada Aeroplan
- British Airways Executive Club
- Emirates Skywards®
- Flying Blue AIR FRANCE KLM
- Iberia Plus
- IHG One Rewards
- JetBlue TrueBlue
- Marriott Bonvoy
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards
- United MileagePlus
- Virgin Atlantic Flying Club
- World of Hyatt
How the Chase Sapphire Preferred compares to other travel cards
Chase Sapphire Preferred vs. Chase Sapphire Reserve®
The Sapphire Preferred and Sapphire Reserve are both travel cards from Chase with generous rewards and benefits. Like the Preferred, the Reserve offers a generous welcome bonus: 60,000 points after spending $4,000 on purchases in the first three months of account opening.
The main difference between them is the annual fee and the benefits that come with the price point — the Preferred has a $95 annual fee, while the Reserve has an annual fee of $550 and $75 per authorized user. The Sapphire Reserve also offers more rewards per dollar spent on travel and dining purchases and an up to $300 annual travel credit. Additionally, the Reserve offers access to airport lounges, while the Preferred does not.
Chase Sapphire Preferred vs. Citi Premier® Card * The information for the Citi Premier® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
The Citi Premier and the Chase Sapphire Preferred have the same $95 annual fee. The Premier also comes with a welcome bonus of 60,000 points after spending $4,000 on purchases in the first three months of account opening. However, the two travel cards have different strengths. The Citi Premier earns 3 ThankYou® points per $1 at restaurants, supermarkets, gas stations, air travel and hotels and 1 point per $1 on all other purchases. Plus, through June 30, 2024, earn 10 ThankYou points per $1 spent on hotels, car rentals and attractions booked on the Citi Travel portal.
While this rewards structure is similar to that of the Sapphire Preferred, the travel earning rate isn’t restricted to a specific booking portal like the Sapphire Preferred is. The Citi Premier also provides a $100 annual hotel savings perk on bookings of $500 or more (before taxes and fees when booking through ThankYou.com, once each calendar year) – it’s higher than what the Sapphire Preferred offers but also has a higher spending threshold. Citi also has more travel transfer partners than Chase.
Chase Sapphire Preferred vs. Capital One Venture Rewards Credit Card * The information for the Capital One Venture Rewards Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Charging the same $95 annual fee, the Capital One Venture Rewards Credit Card offers a higher welcome bonus than the Sapphire Preferred: 75,000 miles after spending $4,000 on purchases in the first three months of account opening. The card earns 5 miles per $1 on hotels and rental cars booked through Capital One Travel and purchases through Capital One Entertainment and 2 miles per $1 on other purchases, making it ideal if you want a simple rewards card with a straightforward earn structure.
You can transfer Capital One miles to multiple airline and hotel programs or redeem them for travel at 1 cent each. The Capital One Venture Card also offers premium perks like two complimentary Capital One lounge visits per year, an up to $100 Global Entry or TSA PreCheck credit every four years and no foreign transaction fees.
Should you get the Chase Sapphire Preferred?
The Chase Sapphire Preferred is a great option for those who want a card with a reasonable annual fee that earns bonus rewards on travel, dining and certain everyday spending categories. The card provides access to earning Chase Ultimate Rewards — widely considered one of the best credit card rewards programs, thanks to its flexible redemption options — and comes with some valuable travel and purchase protections, too.
You can transfer points 1:1 to partner airlines and hotels or redeem them directly with Chase at a favorable rate. However, this card might not be the best fit if you won’t use its perks or won’t spend enough to make up for the $95 annual fee in rewards earned.
Chase Sapphire Preferred summary
| CHASE SAPPHIRE PREFERRED DETAILS | |
|---|---|
Annual fee
| $95
|
Welcome bonus
| Earn 60,000 points after spending $4,000 on purchases in the first three months of account opening.
|
Rewards
| 5 points per $1 on travel purchased through Chase Travel℠, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases
|
APR
| 21.49% to 28.49% variable APR on purchases and balance transfers
|
Foreign transaction fees
| $0
|
Major perks and benefits
| $50 annual Chase Travel hotel credit
25% more value when redeeming points for travel through Chase Travel
6-month complimentary Instacart+ subscription
1 year of complementary DoorDash DashPass subscription
Trip cancellation/interruption insurance
Trip delay reimbursement
Primary rental car insurance
Baggage delay insurance
Travel and emergency assistance services
|
Methodology
Our credit cards team has spent hours analyzing hundreds of travel credit cards. We took a deep dive into the details of each product and that analysis, combined with our years of experience covering credit cards, informed us as we developed these credit card rankings. We factored the following into our analysis:
- Annual fees.
- Travel reward rates.
- Value of rewards.
- Redemption options.
- Additional benefits that a card may offer for travelers, such as travel insurance.
Frequently asked questions (FAQs)
The Chase Sapphire Preferred is considered a midrange card, due to its $95 annual fee and the benefits it provides. It offers bonus points for travel purchases and on various everyday spending categories, no foreign transaction fees, travel protections and flexible rewards redemption options.
Chase has not published an income requirement for the Sapphire Preferred. When reviewing your application, Chase considers your credit score, history and ability to repay debt.
Chase has not publicly disclosed the credit score requirements for the Chase Sapphire Preferred card. However, most applicants will need good-to-excellent credit to be approved. A good credit score is defined by FICO as 670 to 739, while an excellent score is 800 and higher. You’ll have a much better chance of approval if your credit score is at least a 700.
Chase Ultimate Rewards points can be redeemed for a variety of rewards, including cash back, gift cards and merchandise. Points can also be transferred 1:1 to more than a dozen airline and hotel loyalty programs. Additionally, points on your Sapphire Preferred account can be used to book travel through Chase Travel at a value of 1.25 cents each.
The Chase Sapphire Preferred is worth the annual fee if you use the benefits and spend in the rewards categories. The welcome bonus alone is worth much more than the annual fee, but after the first year, you’ll need to evaluate the other benefits. For example, if you use the $50 hotel credit (valid on Chase Travel bookings) and earn at least 4,500 points (worth $45 in cash back) from the category bonuses, you’ll break even with the $95 annual fee.
*The information for the Capital One Venture Rewards Credit Card and Citi Premier® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
