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If you're new to travel credit cards or just don't want to pay hundreds in annual fees, the Chase Sapphire Preferred® Card is a smart choice. It earns bonus points on a wide variety of travel and dining purchases and offers strong travel and purchase coverage, including primary car rental insurance. Plus, the card is offering 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. That's worth $1,080 in travel, based on Insider's points and miles valuations.
Chase Sapphire Preferred Review: Is It the Best Credit Card for You?
The Sapphire Preferred Card is one of the best rewards credit cards with an annual fee under $100, and its welcome bonus offer is 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. Beyond its rewards, the Sapphire Preferred Card comes with some of the best travel coverage available, including trip cancellation and interruption insurance and primary car rental insurance.
There are even more reasons to consider the Sapphire Preferred Card with the addition of a $50 annual credit for hotels booked through the Chase Travel Portal, a 10% anniversary points bonus, and up to 5 points per dollar in popular spending categories.
The Sapphire Preferred Card is the less-premium sibling of the Chase Sapphire Reserve®, which has a $550 annual fee compared to a $95 annual fee on the Sapphire Preferred Card. The Chase Sapphire Reserve earns more points on certain travel purchases and comes with up to a $300 annual travel credit and perks like airport lounge access, so it's better suited to those who frequently travel.
If you're interested in both the Chase Sapphire Preferred and Reserve but you're on the fence about paying a high annual fee, it makes more sense to apply for the Chase Sapphire Preferred® Card. It's got a (much) bigger welcome bonus and many of the same travel and shopping perks — and later, if you find yourself traveling more, you could always request an upgrade to the Sapphire Reserve.
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Chase Sapphire Preferred® Card
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Capital One Venture Rewards Credit Card
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Wells Fargo Autograph℠ Card
We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
Chase Sapphire Preferred Rewards
Chase Sapphire Preferred bonus
The Chase Sapphire Preferred bonus is 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. Insider values Chase points at 1.8 cents each, on average, making this bonus worth around $1,080 in travel.
As long as your Sapphire Preferred Card is open and in good standing, your Chase Ultimate Rewards® points will not expire. However, if you close your card, you'll lose all the points in your account — so be sure to redeem them or transfer them to an airline or hotel partner before you cancel.
How to earn points with the Chase Sapphire Preferred
Sapphire Preferred Card members earn points at the following rates:
- 5x points on all travel purchased through Chase Ultimate Rewards®
- 3x points on dining, including eligible delivery services, takeout, and dining out
- 3x points on select streaming services
- 3x points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
- 2x points on all other eligible travel purchases
All other purchases earn 1 point per dollar.
If you're not sure if a purchase will qualify for bonus points, check out our guide to what purchases count in the Chase Sapphire bonus categories for a full rundown.
How to use Chase Ultimate Rewards points
Chase Ultimate Rewards® points are worth 1 cent each by default when redeemed through the Chase Travel Portal. With the Chase Sapphire Preferred® Card, you get 25% more value, or 1.25 cents per point.
Redeem Chase points for travel
You can redeem Ultimate Rewards points for flights, hotels, rental cars, and more through the Chase Ultimate Rewards Travel Portal at the 1.25-cent rate with no limits or blackout dates. The redemption system searches many airline and hotel brands, with a similar feel and layout to major discount travel websites.
However, if you want to get even more value per point, you can transfer to Chase's airline and hotel transfer partners at a 1:1 ratio. That means 1 Chase point equals 1 point or mile in these programs:
You generally get the best value per point by transferring to airlines and booking premium travel, like a first-class flight or a hotel stay that would cost hundreds of dollars. Also, keep in mind that many transfer partner airlines are members of alliances that give you additional partner airline choices.
When you get a good deal, you can book a domestic round-trip flight for 25,000 points. With British Airways, for instance, you can book short-haul flights on partner American Airlines for even fewer points. Southwest also offers many great deals with no checked baggage fees for your first two bags.
If you earn the welcome bonus offer on the Sapphire Preferred Card, you'll have more than enough points for a round-trip award flight to Europe — and depending on the partner you redeem with, you could have points left over to jumpstart your next trip.
Redeem Chase points for other purchases
There are plenty of non-travel options for redeeming your Chase points, but you won't necessarily get as much value as you would by transferring to partners:
- Cash back: Cash in your points at a rate of 1 cent each toward a statement credit or direct deposit to your bank account
- Chase Pay Yourself Back: Use points toward eligible purchases at a rate of up to 1.25 cents apiece
- Gift cards: Your points are worth 1 cent each toward gift cards from popular merchants
- Apple, PayPal, and Amazon purchases: Use points directly for Apple (1 cent each), PayPal (0.8 cents each), or Amazon (0.8 cents each) purchases; the latter two options aren't a good value — you're better off paying for your purchase with the card, then redeeming points at 1 cent apiece toward a statement credit
Chase Sapphire Preferred Benefits and Features
This card gives you more than just valuable points. The Sapphire Preferred's benefits come in handy when traveling and shopping at home, online, or anywhere your travels take you.
When you're traveling outside of the US, the Chase Sapphire Preferred® Card does not charge any foreign transaction fees. Foreign transaction fees are typically 3% to 5% of your purchase, so they can quickly add up if you don't take the right card on your trips abroad.
Annual hotel credit
The Sapphire Preferred Card offers up to $50 in annual statement credits toward hotel purchases made through the Chase Ultimate Rewards travel portal. New cardholders can start earning the credit immediately, while existing cardholders will be eligible after their next account anniversary.
Maximizing this credit is an easy way to shave up to $50 off the card's $95 annual fee — making your net out-of-pocket cost each year just $45.
10% anniversary point bonus
Each year on your account anniversary, you'll receive a points bonus equal to 10% of all purchases made in the previous year.
For example, if you spent $25,000 on the card in an anniversary year, you'd receive a bonus of 2,500 points.
Primary car rental insurance
The Sapphire Preferred Card card includes primary car rental insurance for damage due to theft or collision, which means it kicks in before your own car insurance and allows you to confidently pass up the extra charge of a car rental agency's own insurance whenever you rent a vehicle and pay with the Sapphire Preferred Card (note that it doesn't include liability insurance).
Most cars and countries are included, but check the terms and conditions for specific exclusions.
Trip interruption/cancellation insurance
If you've paid for an eligible trip with the Sapphire Preferred Card and it's cut short or canceled for a covered reason like illness or severe weather, the card's travel insurance could reimburse you up to $10,000 per person and $20,000 per trip for pre-paid, non-refundable travel expenses.
Trip delay insurance
When you use your Sapphire Preferred Card to pay for your fare, its trip delay insurance can get you reimbursed up to $500 per ticket for hotel rooms, food, toiletries, clothes, or other reasonable expenses when your flight is delayed overnight or by 12 hours or more.
Baggage delay insurance
If you've paid for your travel with the Sapphire Preferred Card and your bags are delayed for six hours or more, you could be reimbursed for essential purchases (like clothing and toiletries) up to $100 per day for up to five days.
Lost luggage reimbursement
If the carrier damages or loses your bags, you and your immediate family members could be covered for up to $3,000 per passenger as long as you've paid for your tickets with the Sapphire Preferred Card.
Extended warranty
The Sapphire Preferred Card extends the time period of a US manufacturer's warranty on eligible items by an additional year, on warranties of three years or less when you pay with your card.
Purchase protection
If an eligible item you've bought with the Sapphire Preferred Card is damaged or stolen within 120 days of purchase, purchase protection could make you eligible for up to $500 in reimbursement per claim, and up to $50,000 per account.
Travel and emergency assistance services
If you're traveling away from home and have a problem, you can get help with medical and legal referrals or other emergency assistance. This service is free for Sapphire Preferred Card cardholders, but any third-party costs are your responsibility.
Travel accident insurance
When you pay for your air, bus, cruise, or train transportation with the Sapphire Preferred Card, you're eligible for accidental death or dismemberment coverage of up to $500,000.
Roadside dispatch
Sapphire Preferred Card cardholders can contact the roadside dispatch hotline for help with arranging services like towing and flat tire repair for a set fee.
DoorDash DashPass
With the Sapphire Preferred Card, you can receive a complimentary DashPass membership (for waived delivery fees on qualifying orders) through December 31, 2024. Enrollment is required to receive this perk.
Instacart benefits
Through July 31, 2024, Sapphire Preferred Card cardholders can enroll for a complimentary six months of Instacart+ membership, which comes with free delivery on orders of $35+ and reduced service fees. If you don't plan to keep the membership open beyond six months, be sure to set a calendar reminder to cancel, otherwise, it will automatically renew for another year (currently $99) once your free six months are up.
With the Sapphire Preferred Card, you can now also earn up to $15 per quarter in statement credits toward Instacart purchases (activation required). If you maximize this benefit each quarter, it's worth up to $60 per year — which makes up for much of the card's annual fee.
Gopuff credit
Through December 31, 2023, the Sapphire Preferred Card offers $10 per month in Gopuff credits when you add your card as the default payment method in the Gopuff app. Gopuff is a service that offers speedy delivery of everyday items like food, alcohol, electronics, and medicine.
Cardholders receive the credit automatically when they make an eligible purchase with Gopuff. There's a minimum order amount of $10, and a flat $3.95 delivery fee per order.
Chase Sapphire Preferred Annual Fee and Other Costs
It is easy to see how you can get $100 or more in value from this card every year, but it isn't free. The Chase Sapphire Preferred® Card charges a $95 annual fee. However, you can use the card for international purchases without worrying about extra charges, because it doesn't add foreign transaction fees.
Like most other credit cards, you'll pay interest if you carry a balance (currently a 21.49% - 28.49% Variable APR), and there fee in other situations, including:
- Balance transfer fee
- Cash advance fee
- Late payment fee
- Returned payment fee
Chase Sapphire Preferred vs Chase Sapphire Reserve
The closest competing card to the Chase Sapphire Preferred® Card is the Chase Sapphire Reserve®, which is a premium credit card and charges a much higher annual fee of $550.
The biggest factor in deciding which of these cards is best for you is whether or not you'll be able to take advantage of the Chase Sapphire Reserve®'s extra benefits in order to justify the higher annual fee. A side-by-side table is below, but be sure to check out our Chase Sapphire Preferred and Reserve credit card comparison, and read our Chase Sapphire Reserve credit card review for a deep dive into what makes the card unique.
Chase Sapphire Preferred® Card | Chase Sapphire Reserve® | |
Annual fee | $95 | $550 |
Rewards rate | 5x points on Lyft rides through March 2025 5x points on all travel purchased through Chase Ultimate Rewards 3x points on dining, including eligible delivery services, takeout, and dining out 3x points on select streaming services 3x points on online grocery purchases (excluding Target, Walmart, and wholesale clubs) 2x points on other travel 1 point per dollar on everything else | 10x points on Lyft rides through March 2025 10x points on Chase Dining purchases through Chase Ultimate Rewards 10x points on hotel stays and car rentals purchased through Chase Ultimate Rewards 5x points on air travel purchased through Chase Ultimate Rewards 3x points on other travel (after earning the $300 travel credit) and dining 1 point per dollar on everything else |
Welcome bonus offer | 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening | 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening |
Card benefits | 10% anniversary point bonus Primary car rental insurance Trip interruption/cancellation Trip delay insurance Baggage delay insurance Lost luggage reimbursement Extended warranty Purchase protection No foreign transaction fees | Access to Chase Sapphire Lounges by The Club Access to Reserved by Sapphire restaurant reservations Priority Pass Select airport lounge membership Global Entry, TSA PreCheck, or NEXUS application fee credit Primary car rental insurance Complimentary elite status with Avis, National, and Silvercar car rental agencies Trip interruption/cancellation Trip delay insurance Baggage delay insurance Lost luggage reimbursement Extended warranty Purchase protection Travel and emergency assistance services Travel accident insurance Roadside assistance Emergency evacuation and transportation Emergency medical and dental benefit No foreign transaction fees |
Statement credits | Up to $50 in statement credits toward hotel stays booked through Chase Complimentary DoorDash DashPass membership through December 31, 2024 $10 per month in Gopuff credit through December 2023 Six-month complimentary Instacart+ membership (activate by July 31, 2024) Up to $15 per quarter in Instacart credits through July 2024 | Up to $300 in statement credits each cardmember year toward travel purchases Two-year complimentary Lyft Pink All Access membership $5 monthly DoorDash in-app credit from April 2022 to December 2024 Complimentary DoorDash DashPass membership through December 31, 2024 $10 per month in Gopuff credit through December 2023 One-year complimentary Instacart+ membership (activate by July 31, 2024) Up to $15 per month in Instacart credits through July 2024
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How the Chase Sapphire Preferred Compares
Other popular cards like the American Express® Gold Card and Capital One Venture Rewards Credit Card are geared to travelers, offering top-notch benefits and generous rewards. Depending on your spending and travel habits, one of these cards could be a better fit for you.
Chase Sapphire Preferred® Card | American Express® Gold Card | Capital One Venture Rewards Credit Card | |
Annual fee | $95 | $250 | $95 |
Rewards rate | 5x points on Lyft rides through March 2025 5x points on all travel purchased through Chase Ultimate Rewards 3x points on dining, including eligible delivery services, takeout, and dining out 3x points on select streaming services 3x points on online grocery purchases (excluding Target, Walmart, and wholesale clubs) 2x points on other travel 1 point per dollar on everything else | 4x points at U.S. supermarkets* and at restaurants 3x points on flights booked directly with airlines or through Amex Travel 1x points on all other eligible purchases | 5 miles per dollar on hotels and rental cars booked through Capital One Travel 2X miles on all other purchases |
Welcome bonus offer | 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening | 60,000 Membership Rewards® points after spending $4,000 on purchases on the card in the first six months of card membership | 75,000 miles after spending $4,000 on purchases within three months from account opening |
Card benefits | 10% anniversary point bonus Primary car rental insurance Trip interruption/cancellation Trip delay insurance Baggage delay insurance Lost luggage reimbursement Extended warranty Purchase protection Travel and emergency assistance services Travel accident insurance Roadside dispatch No foreign transaction fees | Perks at Amex Hotel Collection properties (when booked through Amex) Secondary car rental insurance Trip delay insurance Baggage insurance Extended warranty Purchase protection Up to $10 in Uber Cash** each month (up to $120 per calendar year) No foreign transaction fees | Two one-time Capital One Lounge passes each year Secondary car rental insurance*** Travel accident insurance*** Extended warranty on eligible purchases*** No foreign transaction fees
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Statement credits | Up to $50 in statement credits toward hotel stays booked through Chase Complimentary DoorDash DashPass membership through December 31, 2024 $10 per month in Gopuff credit through December 2023 Six-month complimentary Instacart+ membership (activate by July 31, 2024) Up to $15 per quarter in Instacart credits through July 2024 | Up to $10 in dining credits each month (up to $120 per year)*** | Global Entry/TSA PreCheck application fee credit |
Review |
*The American Express® Gold Card earns 4x points on the first $25,000 spent at U.S. supermarkets each calendar year, then 1 point per dollar
***the American Express® Gold Card offers up to $10 in dining credits each month when you use your card at Grubhub, Seamless, The Cheesecake Factory, Wine.com, Milk Bar, Goldbelly, and participating Shake Shack locations. Enrollment required.
Chase Sapphire Preferred Frequently Asked Questions (FAQ)
To be eligible to apply for the Sapphire Preferred Card, you have a credit score in the good to excellent range. However, Chase only allows you to have one Sapphire card at a time, so if you already have the card (or its sibling, the Chase Sapphire Reserve®), you won't be approved.
You also aren't eligible if you've earned the bonus on any Sapphire card in the past 48 months, or have opened five or more cards (from any bank) in the past 24 months. The latter restriction is known as the Chase 5/24 rule, and it applies to most Chase cards.
The $95 is worth it for occasional and frequent travelers, even the annual fee might seem intimidating if you've only had no-annual-fee cards in the past. It's definitely worth it in the first year because the value of the welcome bonus far exceeds the cost.
Beyond that, you'll want to evaluate your spending habits and if they align with the card's bonus categories. You'll also need to consider if you can use perks like the annual hotel credit, top-notch travel insurance benefits, and the ability to transfer points to travel partners (which you don't get if you only have a no-annual-fee Chase card).
The Sapphire Preferred Card earns Chase Ultimate Rewards points, which you can redeem for travel booked through Chase, statement credits, gift cards, and merchandise. The best way to use your rewards is usually by transferring them to Chase's airline and hotel partners, because you can often get outsized value from your points this way.
The Sapphire Preferred Card does not charge extra to add authorized users. Additional cardholders get their own card, but any points earned from their spending will belong to the primary cardholder. Keep in mind any transactions made by your authorized users are your responsibility, so only add folks you trust.
The minimum credit limit for the Sapphire Preferred Card is usually $5,000 because it's a Visa Signature card. Many people get approved for credit limits that are higher than that.
The difference between the Sapphire Preferred and Reserve is that the Sapphire Preferred Card is a mid-tier card with a $95 annual fee and generous rewards for spending. The Chase Sapphire Reserve® is a premium card meant for frequent travelers, and comes with upscale benefits and rewards in exchange for a $550 annual fee.
You can upgrade or downgrade the Sapphire Preferred Card if you've had it for at least a year. Should you decide it's not a good fit, you can call Chase and ask to product change to a different personal Chase Ultimate Rewards earning card. For example, if you find yourself traveling more often and want perks like Priority Pass airport lounge access, you could ask for an upgrade to the Chase Sapphire Reserve®.
Or, on the other hand, if you find that paying the Sapphire Preferred Card's annual fee isn't worth it for you, you could request a downgrade to the no-annual-fee Chase Freedom Flex℠ or Chase Freedom Unlimited®.
No, the Sapphire Preferred Card doesn't come with a TSA PreCheck or Global Entry credit. However, its sibling, the Chase Sapphire Reserve, does offer this feature. You can find more options in our guide to the best credit cards with Global Entry and TSA PreCheck credits.
The Sapphire Preferred Card's 80,000-point welcome bonus will end on May 25, 2023, by 9 a.m. Eastern Time.
Methodology: How We Reviewed the Chase Sapphire Preferred
We compared the Sapphire Preferred Card to similar travel rewards credit cards and assessed the card on various factors, including:
- Ease of use — Does the card make it easy to earn and redeem rewards? Are there multiple options for using points?
- Rewards earning potential — Are there broad bonus categories that are useful to a wide range of customers, and are any of them capped at a certain amount of spending?
- Annual fee — Is the annual fee worth paying based on the card's rewards and benefits?
- Benefits — How do the card's perks, especially travel benefits, stack up against similar cards?
Here's a full breakdown of how we rate credit cards at Insider.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Trip Delay Insurance, Trip Cancellation and Interruption Insurance, and Cell Phone Protection Underwritten by New Hampshire Insurance Company, an AIG Company. Global Assist Hotline Card Members are responsible for the costs charged by third-party service providers. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, Card Members may be responsible for the costs charged by third-party service providers. Extended Warranty, Purchase Protection, and Baggage Insurance Plan Underwritten by AMEX Assurance Company. Car Rental Loss & Damage Insurance Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
***Terms, conditions, and exclusions apply. Refer to your Guide to Benefits for more details. Travel Accident Insurance is not guaranteed, it depends on the level of benefits you get at application.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply