AwardWallet receives compensation from advertising partners for links on the blog. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Here's our complete list of Advertisers.
Offers for the Chase Freedom Flex℠ are not available through this site. Some offers may have expired. Please see our card marketplace for available offers
The Chase Sapphire Preferred® Card (Rates & Fees) is one of the most popular travel cards — and for good reason. This card packs major value, including a generous welcome bonus, solid perks and benefits, and is part of one of the most versatile and valuable rewards programs.
Most cardholders, like myself, find the nominal $95 annual fee justifiable. But is the Sapphire Preferred worth it year after year? Let's go over the card's many selling points to help you decide if it's the right fit for your wallet.
Generous Welcome Bonus
The Sapphire Preferred card features a rather generous welcome bonus and, every now and then, offers an elevated bonus that earns even more points.
Currently, new applicants can receive an appealing welcome offer of 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, 3x on vacation homes, 3x on gas & EV charging, 3x on top streaming services and online groceries (excluding Walmart, Target, and wholesale clubs), 2x on all other travel purchases, 1x on all other purchases
- Earn up to $100 in statement credits each account anniversary year for hotel stays through Chase Travel
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get a year of complimentary Apple TV when activated by December 31, 2026 - a value of $156.
- Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
- Receive one statement credit of up to $120 every four years as reimbursement for the application fee charged to your card for a Global Entry, TSA Precheck® or NEXUS application.
- Transfer points to leading airline and hotel loyalty programs
- Member FDIC
- 5X points on Lyft rides through September 2027
- 5X points on travel purchased through Chase Travel℠
- 3X points on dining at restaurants worldwide
- 3X points on gas and EV charging
- 3X points on vacation homes at top brands like Airbnb, Vrbo and more
- 3X points on eligible streaming services
- 3X points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
- 2X points on all other travel
- 1X point per dollar spent on all other purchases
When redeemed through Chase Travel℠ — one of the most straightforward ways to use Chase Ultimate Rewards — these points are worth at least $750. But if you don't mind putting in a tad more effort, this bonus can be worth multiple times that when you take advantage of the many hotel and airline transfer partners that Chase offers.
Related: Who Is Eligible to Get a Bonus on the Chase Sapphire Preferred?
Low Annual Fee
Many cards worth applying for and keeping long-term come with hefty annual fees. In fact, the more benefits there are, the higher the annual fee tends to be. But for a card that offers a good amount of perks and benefits, the Sapphire Preferred charges a relatively low annual fee of just $95, making it well worth the cost.
Earning Categories for Bonus Rewards
You can earn extra points on travel and other common spending categories with the Chase Sapphire Preferred. Here is a current list of the reward categories:
- 5X points on Lyft rides through September 2027
- 5X points on travel purchased through Chase Travel℠
- 3X points on dining at restaurants worldwide
- 3X points on gas and EV charging
- 3X points on vacation homes at top brands like Airbnb, Vrbo and more
- 3X points on eligible streaming services
- 3X points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
- 2X points on all other travel
- 1X point per dollar spent on all other purchases
The earning potential was always one of the biggest drawbacks of the card. Previously, unless you spent a lot on dining, online grocery purchases, or streaming, it was hard to earn a stash of points. Personally, I've never placed an online grocery order, and I only subscribe to streaming services that I get credits for through other cards.
That meant I rarely used my Sapphire Preferred. However, when the Sapphire Preferred got a refresh in June 2026, it added two bonus categories: vacation homes and gas/EV charging stations. If you regularly stay in Airbnbs, it's now going to be incredibly easy to earn a ton of bonus points.
Unfortunately, the 10% anniversary bonus is getting removed on October 1, 2026, for anyone who applied before June 15, 2026. If you applied after June 15, 2026, you aren't eligible for any anniversary bonus. However, unless you spend a significant amount of money on your card every year, this likely won't make much of a difference.
Combining Chase Points Across Accounts
Another valuable benefit of this card is the ability to combine points from other Ultimate Rewards-earning Chase credit cards.
Chase offers several cash back credit cards, including the Chase Freedom Flex℠ and Chase Freedom Unlimited® (Rates & Fees), as well as small business cards like the Ink Business Cash® Credit Card (Rates & Fees).
Technically, those cards earn cash back in the form of Ultimate Rewards points that can then be redeemed as a statement credit. However, if you also hold an Ultimate Rewards-earning card, you can combine your rewards on your Sapphire Preferred to unlock access to Chase's travel partners.
Furthermore, combining points from other personal and business credit cards to the Sapphire Preferred can increase the value of your points. Redeeming points from the Sapphire Preferred via Chase Travel℠ will yield a value of 1 to 1.5 cents per point — with select hotel and flight redemptions offering greater value than the 1 cent you would receive with redemptions from Chase's cash back cards.
There's no fee or limit to the number of points you can combine this way, and you can combine points with one other member of your household. This allows you to create a family pool of points. To set up this feature, you'll first need to call the number on the back of your card to link your accounts. Moving forward, you can combine points easily online.
Our household takes advantage of combining points quite a bit since my spouse only has a Freedom Unlimited. He earns points on his card, then we combine them onto my Sapphire Preferred, making it easy to redeem for valuable flights or hotels. This benefit alone makes the Chase Sapphire Preferred worth it for us.
Travel Benefits
Points transfer partners
This card is part of the Chase Ultimate Rewards program, which is a huge benefit. While there are dozens of ways to use Chase Ultimate Rewards points, the best way to use points for maximum value tends to be with Chase's four hotel and 10 airline partners.
Remember that you can redeem points through Chase Travel℠ for 1 cent each — or potentially up to 1.5 cents each with Chase's Points Boost program. However, AwardWallet users typically redeem Chase points at 2.02¢ each with transfer partners, earning nearly double the value compared to redeeming through Chase Travel℠. That's a significant difference.
Here is the full list of Chase's transfer partners:
One of our favorite redemptions is transferring to World of Hyatt for our hotel stays. These transfers can unlock some seriously great value. For example, I recently transferred Ultimate Rewards to World of Hyatt and booked four nights at the Hyatt Regency Maui. The cash cost would have been over $2,600, but I spent just 100,000 points, giving a valuation of 2.6 cents per point.
Unfortunately, Chase is devaluing Hyatt transfers for Sapphire Preferred cardholders. If you applied before June 15, 2026, you'll transfer at a 1:1 ratio until October 1, 2026. Transfers after that point will occur at a 4:3 ratio. If you applied after June 15, all transfers will occur at a 4:3 ratio.
Chase also offers transfer bonuses throughout the year, helping stretch your points even further. To see all of the current bank transfer bonuses, check out our dedicated post.
$100 annual hotel credit
The Chase Sapphire Preferred offers up to $100 in statement credits per cardmember year toward hotel stays purchased through Chase Travel℠. This easy-to-use credit may not seem like much, but don't underestimate it, as it covers the card’s annual fee.
Related: How Does the Chase Sapphire Preferred Hotel Credit Work?
$120 Global Entry, TSA PreCheck, or NEXUS credit
Expedited security screening can be the difference between making a tight connection and missing your flight. If you want to breeze through security on all flights and immigration when you re-enter the U.S., consider applying for Global Entry.
Now, the Sapphire Preferred offers up to $120 in statement credits toward the application fee for these programs every four years. And if you're already enrolled in one of these programs, you can always cover the application fee for someone else.
No foreign transaction fees
The Chase Sapphire Preferred is the perfect travel companion when you travel internationally. Some cards charge an extra percentage on each purchase made outside the U.S., but you won't find those fees here. This can save you significant cash as you won't have to pay more for your purchases abroad.
Related: Tips for Saving Money While Traveling Internationally
Partner benefits
Not necessarily a travel benefit, but you can get a complimentary Apple TV subscription for one year when you activate by December 31, 2026. You can also enjoy a complimentary DashPass by DoorDash membership for one year. Included in the membership is up to $10 off groceries, beauty, electronics, and more each month.
Insurance Protections
When it comes to protection, the Sapphire Preferred’s insurance is hard to beat. This card covers everything from trip cancellation to lost luggage, car rental insurance, and purchase protection for items you buy with your card.
Trip cancellation and trip interruption
Travel is unpredictable, and unforeseen circumstances may interrupt your plans. With the Chase Sapphire Preferred, you can be reimbursed up to $10,000 per person and $20,000 per prepaid, non-refundable trip if you experience a cancellation due to sickness, severe weather, or other covered situations. Note that there's a maximum of $40,000 per 12-month period.
Trip delay insurance
Trip delay insurance kicks in if you experience a delay of more than 12 hours or require an overnight stay. The Chase Sapphire Preferred will reimburse up to $500 per ticket for expenses such as hotel stays and meals.
Even when booking award travel, I make sure to pay the taxes and fees for our tickets with my Sapphire Preferred so I'm covered should anything happen.
Related: Chase Sapphire Trip Cancellation and Trip Interruption Insurance
Baggage delay and lost luggage protections
Every year, airlines damage or misplace thousands of customers' bags. If your luggage is delayed for six hours or longer, you can receive reimbursement of up to $100 per day for up to five days for necessary items such as toiletries and clothing until your bag turns up.
If the airline loses your or your immediate family members' checked or carry-on bags, you're covered for reimbursement of up to $3,000 per passenger per trip.
Rental car insurance coverage
If you have ever chosen to pay for rental car insurance at the counter, you know it can be costly. Luckily, Sapphire Preferred cardholders can qualify for primary rental car collision coverage by using their card to pay the full price of the rental and declining the rental company's insurance. This coverage provides reimbursement for damages caused by theft or collision up to $60,000 for most rental vehicles.
Related: Best Credit Cards for Rental Car Insurance
Purchase protection
This card offers purchase protection on eligible purchases made using your card. Your items are protected against damage or theft for up to 120 days from the purchase date. Coverage is up to $500 per claim and $50,000 per cardholder per year.
Most of these protections have caveats, so it's always good to consult the guide to benefits (PDF link) provided by Chase.
Emergency evacuation and transportation coverage
If you or a covered traveler gets injured or sick during a trip at least 100 miles from home and you need emergency evacuation, you may be covered for medical services and transportation up to $100,000. It's uncommon for a card with a sub-$100 annual fee to offer this level of comprehensive protection, so it's a great card for booking travel.
Who Is the Chase Sapphire Preferred Card Good For?
Every bank is fighting for a share of your wallet, so choosing a new credit card can feel daunting. But we still feel the Sapphire Preferred stands out for offering solid travel redemptions and travel perks plus earning flexible, transferable rewards — all for a reasonable annual fee.
If you are new to credit card points and miles, this card might be perfect for you, as it is regularly ranked among the best travel cards for beginners. Even more advanced points-and-miles collectors keep a spot in their wallets for this card.
Related: Why the Chase Sapphire Preferred Is the Best Beginner's Travel Rewards Card
Is the Chase Sapphire Preferred Card Worth Its Annual Fee?
Those looking for a new travel rewards credit card will be hard-pressed to find a card that checks more boxes than the Chase Sapphire Preferred. Its $95 annual fee can be easily offset by the $100 annual hotel credit and the value of redeeming the card's welcome bonus. As if that wasn't enough, you'll enjoy many consumer and travel protections when using your card, and you'll incur no additional charges when using it abroad.
The bonus point categories offer exceptional value for most cardholders. Consider the 3 points per dollar you earn on dining and vacation rentals, and 2 points per dollar spent on travel. Many no-annual-fee credit cards only offer 1% cash back or 1 point per dollar. The $95 annual fee, just under $8 a month, is easily offset by the extra rewards you'll earn.
All of this makes the Sapphire Preferred card worth it for most people.
Related: Complete Chase Sapphire Preferred Review
For rates and fees of the cards mentioned in this post, please visit the following links: Chase Sapphire Preferred® Card (Rates & Fees), Chase Freedom Unlimited® (Rates & Fees), and Ink Business Cash® Credit Card (Rates & Fees)
![Best Credit Cards With Travel Credits and Airline Incidental Credits [2026]](https://awardwallet.com/blog/wp-content/uploads/2016/11/passengers-airport-feature.jpg)
