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Chase Sapphire Preferred Review: A Clear Travel Rewards Credit Card Leader

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The Chase Sapphire Preferred® Card has a legion of travel fans for good reason. 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. Its annual fee is justifiable for most cardholders. Check out our in-depth Chase Sapphire Preferred® Card review to see if this card is a fit for your needs.

This credit card is a good fit for: Travelers who want the most versatile travel points we know of and a great introductory bonus offer.

  • With a big sign-up 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.

    • Big sign-up bonus
    • Travel rewards
    • Dining rewards
    • Flexible travel points
    • Consumer and travel protections
    • Has an annual fee
    • 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 Ultimate Rewards®.
    • Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x 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, 60,000 points are worth $750 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
    • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
    • Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.

Full Chase Sapphire Preferred review

Top perks

60,000-point sign-up bonus

You earn 60,000 bonus points after spending $4,000 on purchases in the first three months. That's worth $750 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.

Read more: Best Hotel Credit Cards

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:

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.

For a broader look at card options, check out our list of the best credit cards.

As of Aug. 04, 2022
Image for
Image for
Citi Premier® Card Bank of America® Travel Rewards credit card
Apply Now for Citi Premier® Card

On Citi's Secure Website.

Credit Rating Requirement:

Good/Excellent (670-850) Info Icon Circle with letter I in it.

Credit Rating Requirement:

Good/Excellent (670-850) Info Icon Circle with letter I in it.

Welcome Offer: Info Icon Circle with letter I in it.

80,000 ThankYou® Points

Welcome Offer: Info Icon Circle with letter I in it.

25,000 points

Rewards Program: Info Icon Circle with letter I in it.

1x - 3x points

Rewards Program: Info Icon Circle with letter I in it.

1.5 points per dollar

Intro APR:

Purchases: N/A

Balance Transfers: N/A

Intro APR:

Purchases: 0%, 15 billing cycles

Balance Transfers: N/A

Regular APR:

18.24% - 26.24% (Variable)

Regular APR:

16.24% - 26.24% Variable

Annual Fee:


Annual Fee:



  • For a limited time, earn 80,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening
  • Earn 3 Points per $1 spent at Restaurants and Supermarkets
  • Earn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels
  • Earn 1 Point per $1 spent on all other purchases
  • Annual Hotel Savings Benefit
  • 80,000 Points are redeemable for $800 in gift cards when redeemed at
  • No expiration and no limit to the amount of points you can earn with this card
  • No Foreign Transaction Fees on purchases


  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire.
  • 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.
  • Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
  • Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
  • 0% Introductory APR for 15 billing cycles for purchases. After the intro APR offer ends, 16.24% - 26.24% Variable APR will apply.
  • If you're a Preferred Rewards member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
  • Contactless Cards - The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Apply Now for Citi Premier® Card

On Citi's Secure Website.

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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.

Read more: Best Sign-up Bonus Credit Cards

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 $750 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 sign-up 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®.

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 60,000 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?

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.

If this card isn't the right fit for you, take a look at our picks for the best travel rewards credit cards to find something more in line with your needs.


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