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

Review Updated
Lyle Daly
By: Lyle Daly

Our Credit Cards Expert

Nathan Alderman
Check IconFact Checked Nathan Alderman
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

The Chase Sapphire Preferred® Card has a legion of 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.

Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. 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.
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4.50/5 Circle with letter I in it. 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.
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= Excellent
= Good
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Credit Score: Circle with letter I in it. 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)
Credit Score Circle with letter I in it. 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.

Good/Excellent (670-850)

Intro APR Circle with letter I in it. N/A

Purchases: N/A

Balance Transfers: N/A

Regular APR

21.49%-28.49% Variable

Rewards Circle with letter I in it. 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

Annual Fee Circle with letter I in it. N/A

$95

Welcome Offer Circle with letter I in it. 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

  • The enormous welcome bonus (worth up to $750), bonus points for travel and dining, and $50 annual hotel credit alone make this card well worth the $95 annual fee. What really stands out are the rare travel protections such as trip delay reimbursement, lost luggage reimbursement, and trip cancellation/interruption insurance. It’s the only low annual fee card we’ve seen offer those protections.

    • Big sign-up bonus
    • Travel rewards
    • Dining rewards
    • Flexible travel points
    • Consumer and travel protections
    • Annual fee
    • Limited-time perks
    • 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℠.
    • 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.
    • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
    • 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.
    • Member FDIC

Full Chase Sapphire Preferred review

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

Features and benefits

The Chase Sapphire Preferred® Card is an affordable way to save on big trips. Since it has a $95 annual fee, it's not made for luxury benefits, like airport lounge access and travel credits. What it does have are ample bonus opportunities and flexible points you can use to cover the cost of expensive flights and hotels.

Spectacular travel rewards program that can take you anywhere

When you want to book a trip using your travel points, it's nice to have options. This card is part of the Chase Ultimate Rewards program, which is a huge benefit. Through this program, you can transfer your points to over a dozen airline and hotel partners.

This gives you the flexibility to book all kinds of trips. Here are a few examples:

  • Want to practice your Spanish (and eat a whole lot of tapas) in Spain? You could transfer your Chase points to Iberia to book your airfare.
  • Looking to save on a costly hotel stay? If there's a Hyatt where you're going, transfer your Chase points there -- Hyatt hotels are a steal when you book with points.
  • Hoping to visit Paris in the spring? Send those Chase points over to Air France and KLM's Flying Blue program, and you'll be able to book that ticket in miles instead of cash.

These are all ways I've used my own Chase points, and I've saved over $5,000 multiple times on flights and hotel stays. Not only does being able to transfer your points give you flexibility, you can get incredible value.

The Ultimate Rewards program gives you other options, too. Another popular choice is booking travel through Chase's portal and paying in points. You get $0.0125 per point, so 10,000 points are worth $125 this way. But to get the most from Chase points, transfers are the best option.

RELATED: The Ascent's Travel Credit Cards Hub

Big bonus opportunities help you earn points more quickly

If you use this card regularly, you shouldn't have any trouble earning points. For starters, the welcome offer is 60,000 bonus points for spending $4,000 in the first 3 months.

It's only fair to mention that this welcome offer has been higher at times. Chase occasionally offers 80,000 bonus points, and on rare occasions, even 100,000. You might want to wait and see if you're not in a hurry. But if you are, 60,000 bonus points are still impressive. Through the Chase travel portal, 60,000 bonus points are worth $750.

You'll also be earning bonus points on everyday spending and travel purchases.:

  • Whether you go out to eat or place a delivery order, this card earns 3X points per $1 on dining.
  • You earn the same rate of 3X points per $1 for online grocery orders and select streaming services.
  • This card earns 2X points to 5X points per $1 on travel purchases, depending on the type of travel purchase.

Partner benefits that could save you some extra cash

Chase says that the Chase Sapphire Preferred® Card offers over $200 in partner value. It's technically true, although I wouldn't get your hopes up about saving that much. Here's a quick look at where all this value is coming from:

  • Complimentary DoorDash DashPass subscription for a minimum of one year when you activate by Dec. 31, 2024 ($96/year value)
  • Complimentary six-month Instacart+ membership when you activate by July 31, 2024 (auto-renews, $60 value)
  • Quarterly $15 Instacart credit for Sapphire Preferred Instacart+ members through July 2024
  • 5X points per $1 on Peloton equipment and accessory purchases over $150 through March 31, 2025 ($75 value when you purchase a Peloton bike and redeem for cash)

If you like getting food delivered, you'll probably enjoy having this card. The DoorDash and Instacart benefits are both easy to use, plus you'll earn bonus points on purchases with those delivery apps. And if you also happen to be buying a Peloton bike, even better.

Travel and purchase coverages in case anything goes wrong

There's nothing like renting a car and hearing that you personally could be on the hook for some absurd sum of money if anything happens to it. If you pay the full rental cost with your Chase Sapphire Preferred® Card, and decline the add-on the rental company wants to sell you, you won't need to worry about that.

Since this card has an auto rental damage collision waiver, it provides complimentary coverage. It's also primary coverage, meaning you wouldn't even need to file a claim with your own insurance first (many travel cards have secondary coverage that only kicks in after your own insurance is exhausted).

That's one of many complimentary protections. Others include:

  • Trip cancellation/interruption insurance
  • Baggage delay insurance
  • Trip delay reimbursement
  • Travel and emergency assistance services
  • Purchase protection
  • Extended warranty protection

$50 annual hotel savings that could be tricky to use

This card offers up to $50 in statement credits per account year toward hotel stays purchased through Chase Ultimate Rewards. You could look at it like a $50 annual discount on hotels -- but there's a catch.

You need to book through Chase Ultimate Rewards, and you won't always find the best prices there. I've found that Chase's prices are often higher than they are if you book directly through the hotel. A stay may cost $1,000 through Chase or $900 through the hotel, in which case this benefit doesn't do you any good. Sometimes it works out, but it's hit or miss.

Drawbacks to know about

This Chase card won't be right for everyone. There's nothing wrong with it, but there are a few downsides compared to some of its competitors. If one of them is an issue for you, then you're better off with a different card.

The benefits are a lot to keep track of

With all that it offers, the Chase Sapphire Preferred® Card can be a handful. It gives you what seems like a million ways to use your points. Transfer them. Book travel with points in Chase's portal. Get cash back. Shop for Apple products. Those are just some of your options. Don't forget about the card's $50 hotel credit, or the partner benefits with DoorDash, Instacart, and Peloton, either.

Its list of features feels like one of those never-ending infomercials with add-on after add-on. It starts out strong, but you eventually wonder how many of these perks you're actually going to use.

These benefits could be valuable, if you know you'll use them and you don't mind keeping track of everything. Just keep in mind that there's a learning curve involved, both in making the most of this card's features and figuring out how to use your points.

It doesn't have many premium perks to upgrade your travel experience

This Chase card is great at helping you pay for your trips, particularly airfare and hotels. But it doesn't have the kind of luxury travel perks that improve your experience along the way.

You won't be getting into any airport lounges with this card. That's understandable for a $95 annual fee, but there are cards in this price range that at least offer a few lounge passes per year. You also won't get silver or gold status with your favorite hotel with this card. And it won't pay for your Global Entry/TSA PreCheck membership so you can get through airport security faster.

If you were hoping for some high roller perks, you'll need to look at other travel cards with higher annual fees. But if those don't matter to you, then the Chase Sapphire Preferred® Card will probably have everything you need for a reasonable annual fee.

Find the best credit card for your needs

Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.

Is the Chase Sapphire Preferred's annual fee worth it?

The Chase Sapphire Preferred® Card's annual fee is worth it for many cardholders, given the rewards, sign-up bonus, and extra perks it offers. The sign-up bonus is already worth $750 in travel with Chase, so you can come out well ahead in value that first year.

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 earning categories with high rewards rates, this is an achievable goal for anyone who uses their credit card regularly.

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. Another good option would be a cash back card. If you have high spending and travel quite a bit, then you could benefit more from a travel card with a higher annual fee and more features.

READ MORE: Best Cash Back Credit Cards

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 evaluating the Chase Sapphire Preferred® Card vs. Chase Sapphire Reserve® matchup.

FEATURES 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
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 bonus points after spending $4,000 within 3 months 60,000 bonus points after spending $4,000 within 3 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 the Chase Sapphire Preferred® Card: This card is best suited for everyday cardholders and occasional travelers. It's better for those who don't place much value in the premium travel perks offered with the Chase Sapphire Reserve®, such as reimbursement for Global Entry or TSA Pre✓® fees, and access to certain airport lounges.

When to pick the 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. If you travel every few months, the additional benefits of this card could justify the much higher annual fee.

Suggested credit score

Applicants will have the best shot of securing approval for the Chase Sapphire Preferred® Card with a FICO® Score of 670 or higher. Although your credit score is important, keep in mind that it's not the only factor. It is possible to be approved with a lower score and even to not be approved with a higher score.

Chase looks at many factors during the underwriting process. Another number that can sway an approval decision is how many credit cards you've opened recently. In what's unofficially known as the Chase 5/24 rule, Chase normally denies any applicant who has already opened five or more credit cards in the last 24 months.

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 both travel-related and everyday spending 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.

Alternatives to consider

If you want more points for gas and in-store supermarket purchases: The Citi Premier® Card earns 3 points per $1 across several spending categories, including supermarkets, gas stations, air travel, and restaurants.

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 sign-up bonus of 25,000 points 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 Nov. 27, 2023
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Citi Premier® Card Bank of America® Travel Rewards credit card
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. 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.
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= Excellent
= Good
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= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. 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
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Credit Rating Requirement: Circle with letter I in it. 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: Circle with letter I in it. 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)

Welcome Offer: Circle with letter I in it. Earn 60,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening. Plus, for a limited time, earn a total of 10 ThankYou® Points per $1 spent on hotel, car rentals, and attractions (excluding air travel) booked on the Citi Travel℠ portal through June 30, 2024.

60,000 ThankYou® Points

Welcome Offer: Circle with letter I in it. 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

Rewards Program: Circle with letter I in it. 3x points at restaurants, supermarkets, at gas stations, for air travel, and on hotels, 1x points on other purchases

1x - 3x points

Rewards Program:

1.5 points per dollar

Intro APR:

Purchases: N/A

Balance Transfers: N/A

Intro APR: Circle with letter I in it. 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

Regular APR:

21.24% - 29.24% (Variable)

Regular APR:

18.24% - 28.24% (Variable)

Annual Fee:

$95

Annual Fee:

$0

Highlights:

  • Earn 60,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening. Plus, for a limited time, earn a total of 10 ThankYou® Points per $1 spent on hotel, car rentals, and attractions (excluding air travel) booked on the Citi Travel℠ portal through June 30, 2024.
  • Earn 3 Points per $1 spent at Gas Stations, Air Travel and Other Hotels
  • Earn 3 Points per $1 spent at Restaurants and Supermarkets
  • Earn 1 Point per $1 spent on all other purchases
  • Annual Hotel Savings Benefit
  • 60,000 ThankYou® Points are redeemable for $600 in gift cards or travel rewards at thankyou.com
  • No expiration and no limit to the amount of points you can earn with this card
  • No Foreign Transaction Fees on purchases

Highlights:

  • 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 as long as your account remains open.
  • 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% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.24% - 28.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
  • If you're a Bank of America 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.
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Our credit card methodology

At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.

FAQs

  • The minimum credit limit for the Chase Sapphire Preferred® Card is $5,000. Depending on your income and credit score, it's possible to receive a much higher credit limit, with some cardholders reporting limits of over $30,000.

  • Yes, the Chase Sapphire Preferred® Card is made of a metal alloy.

  • Yes, the Chase Sapphire Preferred® Card can be used anywhere Visa cards are accepted. It also charges no foreign transaction fees for purchases made abroad and/or in a foreign currency.

Our Credit Cards Experts