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Fact Checked
Ashley Maready
If you're in the market for a travel rewards credit card, the Chase Sapphire Preferred® Card should be on your list. The plentiful Chase Sapphire Preferred® Card benefits have made it a traveler favorite.
Many people wonder if they should apply for the Chase Sapphire Reserve® or the Chase Sapphire Preferred® Card. One thing to watch out for is the higher annual fee on the Chase Sapphire Reserve®. The Chase Sapphire Preferred® Card is a much more affordable option. Only you can decide whether the Chase Sapphire Preferred® Card's perks make its annual fee worth paying.
To help you see if it's among the best credit cards for you, we've outlined some of the top Chase Sapphire Preferred® Card benefits.
Chase Sapphire Preferred benefits
This credit card is branded as a travel credit card, but is also useful when you're close to home. That's because this card is packed with perks you can use daily. Here are some of our favorites.
An impressive sign-up bonus offer
The Chase Sapphire Preferred® Card offers a generous welcome offer of 60,000 bonus points. To qualify, you must spend $4,000 within the first 3 months of card ownership. If you redeem those bonus points through the Chase Travel portal, they're worth $750 in travel rewards. If you're looking for cards with a big sign-up bonus, this is one of the biggest sign-up offers out there.
Excellent earning potential
With bonus rewards on travel purchases and everyday spending, this card is great for collecting lots of points. It earns:
- 5 points per $1 on travel booked through Chase Ultimate Rewards (excluding hotel purchases that qualify for the $50 annual hotel credit)
- 3 points per $1 on dining, including eligible delivery services, takeout, and dining out
- 3 points per $1 on online grocery purchases, excluding Target, Walmart, and wholesale clubs
- 3 points per $1 on select streaming services
- 2 points per $1 on all other travel purchases
- 1 point per $1 on other purchases
10% anniversary points bonus
Each account anniversary year, Chase rewards you with bonus points equal to 10% of your spending over the previous year. For example, $25,000 in spending would net you 2,500 bonus Chase points.
Added purchase protections
This Chase card comes with purchase protection. If something you buy with the card is damaged or stolen, you can get up to $500 per claim and up to $50,000 per account. Eligible purchases are covered for up to 120 days.
This Chase Sapphire card also has extended warranty protection. This coverage extends U.S. manufacturers' warranties by a year. This perk is available for eligible warranties of three years or less.
READ MORE: Chase Sapphire Reserve® vs. Chase Sapphire Preferred® Card
Chase Sapphire Preferred travel benefits
The Chase Sapphire Preferred® Card is one of the best travel credit cards on the market. As such, it's not surprising to find some valuable travel-focused benefits. Some of these perks may offer a lot of value, whether you travel a couple of times a year or more regularly.
$50 annual Ultimate Rewards hotel credit
This card offers $50 in statement credits per account anniversary year for hotel stays purchased through Chase Ultimate Rewards. You can book most hotels through the Chase Travel portal, so this benefit is easy to use.
Earn big on travel purchases
Preferred cardholders earn 5 points per $1 on travel purchased through Chase Ultimate Rewards and 2 points per $1 on all other eligible travel purchases. If you love travel, these Chase Ultimate Rewards points can add up.
Points are worth more when redeemed for travel
Another top Chase Sapphire Preferred® Card benefit is that points have more value when redeemed for travel. You'll get 25% more value when you redeem points for travel purchases in the Chase Travel portal.
Choosing a credit card
Don't you wish you could take a peek inside a credit card expert's wallet sometimes? Just to see the cards they carry? Well, you can't look in anybody's wallet, but you can check out our experts' favorite credit cards. Get started here:
Airline and hotel transfer partners
Chase points aren't just popular because they're worth more on travel purchases. You can also transfer them to Chase's partners, which include over a dozen popular airlines and hotels.
No foreign transaction fees
The Chase Sapphire Preferred® Card benefits don't stop there. Like all the top travel cards, this card doesn't charge a foreign transaction fee, making it an excellent card for international travel. Cards that do have foreign purchases typically charge around 3% per transaction, which can add up. It's much easier to shop abroad if you don't have to worry about extra fees.
Protection for your next trip
The Chase Sapphire Preferred® Card comes with trip cancellation and trip interruption insurance. Let's say a trip you paid for with your card is canceled or cut short by illness, poor weather, or another covered situation. Cardmembers can get up to $10,000 per person and $20,000 per trip reimbursed for prepaid, non-refundable travel expenses. This includes travel expenses like passenger fares, tours, and hotels.
The Chase Sapphire Preferred® Card benefits also include trip delay insurance. If travel is delayed by more than 12 hours or requires an overnight stay, you and your family can claim up to $500 per ticket in expenses. This includes expenses such as meals and lodging.
Another of the Chase credit card benefits is baggage delay insurance. You're eligible for reimbursement for purchases like toiletries and clothing when your baggage is delayed for more than six hours. You can get back up to $100 per day for up to five days.
Auto rental collision damage waiver
Chase Sapphire Preferred® Card benefits also include an auto rental collision damage waiver. To use this perk, decline the rental car company's collision insurance. Then, charge the entire rental cost to your Chase Sapphire Preferred® Card. You're covered up to the vehicle's actual cash value for theft and collision damage. This is available for most rental cars within the U.S. and abroad.
READ MORE: A Guide to Chase Sapphire Rental Car Insurance
The Chase Sapphire Preferred is a winner
When comparing credit cards with travel rewards, consider the Chase Sapphire Preferred® Card. Like many Chase credit cards, this card has many benefits and perks. You usually need a good credit score to get approved for this card. If you're ready to apply, first check to see if you prequalify for a Chase credit card.
Here's the Chase Sapphire Preferred® Card compared side-by-side with some of our other favorite travel credit cards.
As of Apr. 16, 2024
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| Chase Sapphire Preferred® Card | Bank of America® Travel Rewards credit card | The Platinum Card® from American Express |
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Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
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Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
Apply Now for Bank of America® Travel Rewards credit card
On Bank of America's Secure Website. |
Apply Now for The Platinum Card® from American Express
On American Express' Secure Website. Terms apply |
|
Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Good/Excellent (670-850) |
Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Good/Excellent (670-850) |
Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Good/Excellent (670-850) |
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Welcome Offer: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠. 60,000 bonus points |
Welcome Offer: 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases 25,000 points |
Welcome Offer: Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. 80,000 |
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Rewards Program: Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more. 5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchases |
Rewards Program: 1.5 points per dollar |
Rewards Program: Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel. Earn 1X Membership Rewards® Points on other purchases. Terms and limitations apply. 1X-5X Membership Rewards® Points |
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Intro APR: N/A Purchases: N/A Balance Transfers: N/A |
Intro APR: 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. Balance transfers include a fee of 3% for 60 days from account opening, then 4%. Purchases: 0% Intro APR for 15 billing cycles for purchases Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days |
Intro APR: Purchases: n/a Balance Transfers: n/a |
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Regular APR: 21.49%-28.49% Variable |
Regular APR: 18.24% - 28.24% (Variable) |
Regular APR: See Pay Over Time APR |
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Annual Fee: N/A $95 |
Annual Fee: $0 |
Annual Fee: $695 |
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Highlights:
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Highlights:
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Highlights:
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Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
Apply Now for Bank of America® Travel Rewards credit card
On Bank of America's Secure Website. |
Apply Now for The Platinum Card® from American Express
On American Express' Secure Website. Terms apply |
Show More
Show Less
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FAQs
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Yes, the Chase Sapphire Preferred® Card has an annual fee of $95.
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The Chase Sapphire Preferred® Card is packed with perks that frequent travelers will love. It has no foreign transaction fees, includes a $50 annual credit for hotels booked through the Chase Ultimate Rewards® portal, and includes travel perks like trip cancellation, trip interruption insurance, and baggage delay insurance.
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For travelers who don't mind paying an annual fee, the Chase Sapphire Preferred® Card is well worth it. If you spend money on expenses like travel, dining, and online grocery purchases and can take advantage of the travel benefits included with this card, it's worth considering.
Our Credit Cards Experts
Natasha has been a freelance writer since 2015. She specializes in credit card and credit card rewards content. When not busy writing, she's either dreaming up her next credit card rewards redemption or traveling the globe. Her goal is to encourage more people to experience the world around them while making smart financial choices.
Fact Checked
Ashley Maready
Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.
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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
Bank of America is an advertising partner of The Ascent, a Motley Fool company. American Express is an advertising partner of The Ascent, a Motley Fool company. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bank of America, JPMorgan Chase, Target, Uber Technologies, and Walmart. The Motley Fool has a disclosure policy.