Is the Chase Sapphire Preferred® Card Worth the $95 Annual Fee?
On rewards alone, the Chase Sapphire Preferred® Card never out-earns the no-fee Hilton Honors American Express Card — its $95 fee has to be justified by credits and perks, not the earn rates.
Rates verified 2026-07-28.
Method: we compare what the Chase Sapphire Preferred® Card earns against the best no-annual-fee card in the same category — the Hilton Honors American Express Card — because the alternative to paying a fee is not earning nothing, it is a good free card. Full methodology.
Three spending levels
| Profile | Chase Sapphire Preferred® Card | Hilton Honors American Express Card | After the $95 fee |
|---|---|---|---|
| Light spender ($1,200/mo) | $268/yr | $542/yr | −$370 behind |
| Typical spender ($2,400/mo) | $535/yr | $1,082/yr | −$642 behind |
| Heavy spender ($4,500/mo) | $1,004/yr | $2,030/yr | −$1,121 behind |
The breakeven curve
| Monthly spend | Margin vs. Hilton Honors American Express Card (after fee) | Verdict |
|---|---|---|
| $500 | −$209 | keep the free card |
| $1,000 | −$323 | keep the free card |
| $1,500 | −$437 | keep the free card |
| $2,400 | −$642 | keep the free card |
| $3,500 | −$893 | keep the free card |
| $5,000 | −$1,235 | keep the free card |
| $7,500 | −$1,805 | keep the free card |
Caveats that can move this math: 5X Chase Travel. Statement credits and perks are not counted unless you would have spent that money anyway.