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The Chase Sapphire Preferred® Card has a legion of travel fans for good reason and it's annual fee is justifiable for most cardholders. The card packs in features common with the best travel credit cards, such as a large sign-up bonus, premium rewards in several diverse spending categories, and perhaps most importantly, one of the top travel rewards programs we've come across. Check out our in-depth Chase Sapphire Preferred® Card review to see if this card is a fit for your needs.
Chase Sapphire Preferred® Card
Apply Now
On Chase's Secure Website.
Chase Sapphire Preferred® Card
Great for: All-in-one travel credit card
Apply Now
On Chase's Secure Website.
Rating image, 5.00 out of 5 stars.
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.
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. 5.00/5
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On Chase's Secure Website.
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With a recently-upgraded bonus, the sky’s the limit for this top-rated travel rewards card. Plus, the premium points program for travel and dining make it a no brainer for travel enthusiasts everywhere.
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- Big sign-up bonus
- Travel rewards
- Dining rewards
- Flexible travel points
- Consumer and travel protections
- Has an annual fee
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- Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.
- Enjoy new benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining and 2X points on all other travel purchases, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 100,000 points are worth $1,250 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
Full Chase Sapphire Preferred review
This credit card is a good fit for: Travelers who want the most versatile travel points on the market and a great introductory bonus offer.
Limited time offers
Save money on take out: Get unlimited DoorDash deliveries with a $0 delivery fee and reduced service fees on qualifying purchases over $12. You must activate DashPass by Dec. 31, 2021.
Score ride share perks: Earn 5 points per $1 on Lyft rides through March 2022.
Pedal more with Peloton: Receive up to $60 back for Peloton Digital or All-Access Memberships through Dec. 31, 2021.
Top perks
100,000-point sign-up bonus
You earn 100,000 bonus points after spending $4,000 on purchases in the first three months. That's worth $1,250 for travel when redeemed through Chase's travel portal.
Earn up to 5 points per $1
This card earns points for a range of valuable purchases. Here are the earn rates by purchase category:
- 5 points per $1 when using your card to book travel through the Chase Ultimate Rewards portal
- 3 points per $1 on select streaming services
- 3 points per $1 on online groceries. Target, Walmart, and wholesale clubs are excluded.
- 3 points per $1 on dining, including takeout and delivery. This card used to earn 2 points per $1, so this is a notable improvement.
- 2 points per $1 on travel. Your travel spending earns 2 points per $1 when using your card to book travel outside of the Chase Ultimate Rewards portal. There's no cap on how many bonus points you can earn this way.
- Outside these bonus categories, other spending earns the standard rate of 1 point per $1.
$50 annual hotel credit for travel booked through Chase
An annual $50 hotel credit is available for hotel stays booked through the Chase Ultimate Rewards portal. New cardmembers will start earning toward this perk immediately, while current cardholders will start earning this perk after their next card anniversary.
Earn a 10% anniversary point bonus
At each cardmember anniversary, you'll earn bonus points equal to 10% of your total purchases made in the previous year. For example, if you spend $20,000, you'll earn an additional 2,000 bonus points.
25% points bonus
This is one of Chase's credit cards that earns Chase Ultimate Rewards points, one of the most valuable types of travel rewards. You can redeem points toward cash travel purchases through Chase's travel portal at a rate of $0.0125 per point.
Another option is transferring points to the loyalty program of Chase's many airline and hotel partners. These give you a chance to make very high-value award bookings, which are a great way to maximize the value of Ultimate Rewards points.
No foreign transaction fee
Foreign transaction fees can quickly add up when whipping out credit cards for purchases abroad. The card's foreign transaction fee is 0% -- that's a savings of $60 on $2,000 worth of international spending that would otherwise incur a typical 3% fee on many other cards.
Consumer and travel protections
Chase's travel insurances and consumer protections are robust when compared to other credit card issuers. They include:
- Trip cancellation/interruption insurance
- Rental car insurance
- Baggage delay insurance
- Trip delay reimbursement
- Purchase protection
- Extended warranty coverage
What could be improved
Annual fee
The Chase Sapphire Preferred® Card charges a $95 annual fee. While it is a justifiable annual fee for many, it's a fee, nonetheless.
Limited-time perks
Some of the card's perks are only offered for a limited time, which is problematic for two reasons. The first is that it's tougher to keep track of your credit card's features when they change every few months. It's also frustrating when those special offers end, because your card loses a portion of its value.
Find the best credit card for your needs
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
Is Chase Sapphire Preferred's annual fee worth it?
The Chase Sapphire Preferred® Card's annual fee is worth it for many travelers, given the rewards, sign-up bonus, and extra perks it offers. The sign-up bonus is already worth more than $1,250 in travel with Chase, which is enough by itself to justify the card's annual fee for many years
Beyond just the first year, the card still retains its value for cardholders with modest credit budgets. You'd need to earn only 7,600 Ultimate Rewards points to balance out the annual fee. That's because, at a rate of $0.0125 per point for travel purchases, 7,600 points is worth $95 in travel.
With several new earning categories with high earning rates, this is an achievable goal for many cardholders.
However, there are situations in which you could find a better deal with another card. For example, if you spend only a few hundred dollars per month on your credit card, you'd be better off with a no annual fee travel credit card.
Chase Sapphire Preferred vs. Chase Sapphire Reserve
Though it has a higher annual fee, the Chase Sapphire Reserve® is worth considering alongside this card. Importantly, the two credit cards offer big bonuses, premium rewards for travel and dining, and access to Chase's valuable Ultimate Rewards program. But there are some differences to consider when choosing between the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve®.
| PERKS | CHASE SAPPHIRE PREFERRED | CHASE SAPPHIRE RESERVE |
|---|---|---|
| Annual fee | $95 | $550 |
| Travel rewards | 2 points per $1 | $3 points per $1 |
| Travel rewards (booked through Chase) | 5 points per $1 | 10 points per $1 on hotel and car rentals, 5 points per $1 on air travel |
| Dining rewards (paid for outside of Chase) | 3 points per $1 | 3 points per $1 |
| Dining rewards (booked through Chase) | 3 points per $1 | 10 points per $1 |
| Streaming services rewards | 3 points per $1 | None |
| Online grocery rewards | 3 points per $1 | None |
| Ultimate rewards redemption bonus | 25% | 50% |
| Sign-up bonus | 100,000 points after spending $4,000 within three months | 60,000 points after spending $4,000 within three months |
| Airport lounge access | None | 1,300+ lounges |
| Anniversary bonus points | 10% of the total purchases made in the previous year | None |
| Travel statement credits | Annual $50 hotel credit | Global Entry or TSA Pre✓®, $300 each anniversary year for travel purchases |
When to pick Chase Sapphire Preferred® Card: This card is best suited for everyday cardholders, who occasionally travel and don't place much value in the perks offered only with the Chase Sapphire Reserve®, such as reimbursement for Global Entry or TSA Pre✓® fees, and access to certain airport lounges.
When to pick Chase Sapphire Reserve®: Frequent travelers could find more value in Chase Sapphire Reserve's premium perks, such as higher rewards for travel and dining, and travel statement credits. But those perks come at a cost of a much higher annual fee.
Suggested credit score
Applicants will have the best shot of securing approval for the Chase Sapphire Preferred® Card with a credit score of 670 or higher. It is possible to be approved with a lower score and even to not be approved with a higher score. Many factors are considered during the underwriting process, including the notorious Chase 5/24 rule, and these can sway an approval decision.
Learn more: What Credit Score Do I Need for a Chase Credit Card?
Alternatives to consider
If you want more points for gas and in-store supermarket purchases: The Citi Premier® Card earns 3 points per $1 for travel, dining, gas, and supermarkets, all with the same $95 annual fee.
If you want a no annual fee travel card: The Bank of America® Travel Rewards credit card is a solid pick for those with smaller budgets. This card earns unlimited 1.5 points per $1 on purchases and includes a 25,000-point sign-up bonus after spending $1,000 within 90 days. That's a strong offer for a card that doesn't cost you an annual fee.
As of Sep. 23, 2021
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| Citi Premier® Card | Bank of America® Travel Rewards credit card |
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Rating image, 4.50 out of 5 stars.
4.50 stars
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.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. |
Rating image, 5.00 out of 5 stars.
5.00 stars
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.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. |
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Apply Now
On Citi's Secure Website. |
Apply Now
On Bank of America's Secure Website. |
| Read Full Review | Read Full Review |
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Credit Rating Requirement: |
Credit Rating Requirement: |
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80,000 ThankYou® Points |
25,000 points |
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1x - 3x points |
1.5x points |
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Intro APR: Purchases: N/A Balance Transfers: N/A |
Purchases: 0%, 15 billing cycles Balance Transfers: N/A |
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Regular APR: 15.99% - 23.99% (Variable) |
Regular APR: 13.99% - 23.99% Variable |
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Annual Fee: $95 |
Annual Fee: $0 |
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Highlights:
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Highlights:
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Apply Now
On Citi's Secure Website. |
Apply Now
On Bank of America's Secure Website. |
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The Chase Sapphire Preferred is right for you if:
The Chase Sapphire Preferred® Card will be a match if you want a card that offers versatile travel rewards and that doesn't cost much per year. It's loaded with great travel perks, includes a hotel credit and anniversary points bonus, and offers high earning rates in a few new categories.
The best thing about the Chase Ultimate Rewards program is all the redemption opportunities it offers. You can transfer your points if there's an award booking you like, and if not, you can always use the Chase travel portal to book travel at cash prices. The Chase Sapphire Preferred® Card can earn you a lot of points in this program at a reasonable annual fee.
Apply Now
On Chase's Secure Website.
About the Author
Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.
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