Chase Sapphire Preferred® Card

Quick Snapshot

• Annual Fee: $95
• APR: 21.49%-28.49% variable
• Rewards: 5X Chase Travel, 3X dining/streaming, 2X other travel, 1X everything else
• Bonus: 75,000 bonus points after spending $5,000 in the first 3 months
• Best For: Travelers who want flexible points, strong earn rates, and transfer partners at a reasonable annual fee
• Credit Needed: Good to Excellent (670+)

Overview

The Chase Sapphire Preferred is widely regarded as the best mid-tier travel rewards card on the market. It strikes the ideal balance between a manageable $95 annual fee and premium-level benefits that serious travelers actually use. With 5X points on travel booked through Chase Travel, 3X on dining and select streaming services, and 2X on all other travel, the earning structure rewards the categories where most people spend the most.

What sets the Sapphire Preferred apart from flat-rate cards is the Ultimate Rewards ecosystem. Points transfer at a 1:1 ratio to 14+ airline and hotel partners including United, Southwest, Hyatt, Marriott, and British Airways. Strategic transfers can yield 1.5 to 2+ cents per point, far exceeding the standard 1.25-cent value through Chase Travel. The $50 annual hotel credit through Chase Travel further offsets the annual fee.

The card also includes robust travel protections: trip cancellation and interruption insurance up to $10,000 per person, primary auto rental collision damage waiver covering up to $60,000, baggage delay insurance, and no foreign transaction fees. For travelers who want real value without paying $500+ per year, the Sapphire Preferred consistently delivers.

APR Breakdown

• Purchase APR: 21.49%-28.49% variable
• Balance Transfer APR: 21.49%-28.49% variable
• Cash Advance APR: 29.99% variable
• Penalty APR: None

Note: Your APR will vary with the market based on the Prime Rate. There is no penalty APR, but late payments may result in fees.

Benefits Overview

Travel Benefits

• No foreign transaction fees
• Trip cancellation and interruption insurance up to $10,000 per person
• Primary auto rental collision damage waiver up to $60,000
• Baggage delay insurance for expenses up to $100 per day for 5 days
• Trip delay reimbursement up to $500 per ticket for delays over 12 hours
• $50 annual Chase Travel hotel credit

Everyday Benefits

• Purchase protection for 120 days against damage or theft up to $500 per claim
• Extended warranty protection adds 1 extra year to eligible manufacturer warranties
• Zero liability protection on unauthorized charges
• Contactless payment enabled

Lifestyle Benefits

• Complimentary DashPass membership for DoorDash delivery savings
• Access to exclusive Chase Dining and event experiences
• Instacart+ membership
• Peloton membership benefit
• 25% more value when redeeming points through Chase Travel

Rewards & Points

• 5X points on travel purchased through Chase Travel
• 3X points on dining, online grocery purchases, and select streaming services
• 2X points on all other travel purchases
• 1X point on all other purchases

Transfer Partners: United, Southwest, Hyatt, Marriott, British Airways, Air Canada Aeroplan, Virgin Atlantic, IHG, Singapore Airlines, JetBlue, and more. Points are worth 25% more when redeemed through Chase Travel, making each point worth approximately 1.25 cents. Strategic partner transfers can yield 1.5-2+ cents per point on premium award flights and hotel stays.

Welcome Bonus

Earn 75,000 bonus points after spending $5,000 on purchases in the first 3 months from account opening. Worth $937+ when redeemed for travel through Chase Travel at the 1.25 cents-per-point rate. With airline and hotel transfer partners, the bonus can be worth $1,000-$1,500 depending on how you redeem.

Fees Summary

• Annual Fee: $95
• Foreign Transaction Fee: $0
• Balance Transfer Fee: $5 or 5% of the amount, whichever is greater
• Cash Advance Fee: $10 or 5% of the amount, whichever is greater
• Late Payment Fee: Up to $40

Who This Card Is Best For

Ideal For

• Frequent travelers who book flights and hotels regularly and want flexible redemption
• Dining enthusiasts earning 3X points at restaurants and on delivery orders year-round
• International travelers who need no foreign transaction fees and global acceptance
• Points maximizers who leverage transfer partners for outsized value on award bookings

Not Good For

• Balance carriers since the high variable APR makes carrying balances expensive
• Infrequent travelers who won't redeem points for travel or use travel protections
• Current Sapphire holders because you cannot hold multiple Sapphire cards simultaneously

Key Pros & Cons

Pros

• 75,000-point welcome bonus worth $937+ for travel
• 5X on Chase Travel, 3X dining/streaming, 2X other travel
• $50 annual Chase Travel hotel credit
• Comprehensive travel protections including trip cancellation
• No foreign transaction fees
• Primary auto rental coverage up to $60,000
• Transfer to 14+ airline and hotel partners at 1:1
• 25% redemption bonus on Chase Travel bookings
• DashPass membership included
• Reasonable $95 annual fee

Cons

• $95 annual fee (offset by benefits for active users)
• $5,000 minimum spend in 3 months for welcome bonus
• Cannot hold multiple Sapphire cards simultaneously
• 48-month restriction on Sapphire bonus eligibility
• Points worth only 1 cent each for cash back redemption
• Higher APR if carrying a balance
• No airport lounge access (available on Sapphire Reserve)

Alternatives to Consider

How the Rewards Add Up

Example Annual Value

Total estimated annual value: $574 in points plus the $50 hotel credit, minus the $95 fee = $529 net. Based on 1.25 cents per point via Chase Travel. Transfer partner redemptions can yield 1.5-2+ cents per point for even greater value.

Should You Get This Card?

You Should Get It If...

• You travel at least 2-3 times per year
• You can spend $5,000 in the first 3 months for the bonus
• You dine out or order delivery frequently
• You value flexible points over fixed cash back
• You want comprehensive travel insurance
• You travel internationally and need no foreign fees

You Should Skip It If...

• You rarely travel and won't use travel benefits
• You can't meet the $5,000 spending requirement
• You already have a Sapphire card
• You prefer simple cash back over travel points
• You carry balances month-to-month

Apply Now

Apply for Chase Sapphire Preferred® Card

Information accurate as of May 2026. Terms and conditions apply. Please visit the issuer's website for the most current information.