Chase Sapphire Preferred credit card review

Chase Sapphire Preferred Card overview

The Chase Sapphire Preferred Card is one of the best-known travel rewards credit cards, featuring 5 points per dollar on travel booked through the Chase travel portal and Lyft purchases, 3 points per dollar on dining, select streaming services and online grocery store purchases (excluding Target, Walmart and wholesale clubs), 2 points per dollar on all other travel purchases and 1 point per dollar on everything else. These valuable points can be transferred to airline and hotel partners or redeemed directly for travel at a rate of 1.25 cents per point through Chase Ultimate Rewards. Card rating*: ⭐⭐⭐⭐½

*Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

At TPG, we always get asked an important question from beginner travelers looking to plan trips: Which travel credit card should you start with?

We almost universally recommend the Chase Sapphire Preferred Card. It earns one of our favorite rewards currencies. It offers lucrative perks. It features a low annual fee. In fact, many of us started our journey into points and miles with this card.

The Chase Sapphire Preferred is designed for frequent and casual travelers. With a $95 annual fee, it’s not an expensive card, which makes it an especially good choice for beginners — although you may want to reconsider applying if you’re working on improving your credit score.

Typically, scores around the 730’s and higher qualify for the Sapphire Preferred although it’s not unheard of for someone with a credit score of 646 to also get approved. Just keep in mind that you need a generally good score in order to obtain approval.

The card is currently offering a sign-up bonus of 60,000 Ultimate Rewards points after you spend $4,000 on purchases in the first three months from account opening.

Here’s what you need to know about the Chase Sapphire Preferred and why it’s one of the best cards out there.

Ready to get the card? Apply here for the Chase Sapphire Preferred

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Chase Sapphire Preferred welcome offer

With the Chase Sapphire Preferred, you’ll earn a sign-up bonus of 60,000 points after you spend $4,000 on purchases in the first three months from account opening, enough to take you just about anywhere in the world you want to go.

This haul of points is worth a minimum of $750 when redeemed for travel through the Chase portal, but you can maximize value by utilizing Chase’s transfer partners. TPG values Chase Ultimate Rewards at 2.05 cents per point which pegs the full value of the bonus at $1,230.

Earning points With the Chase Sapphire Preferred

The Chase Sapphire Preferred has a simple earning structure that is easy to maximize:

5 points per dollar on travel booked through the Chase travel portal
5 points per dollar on Lyft purchases (through March 2025)
5 points per dollar on Peloton equipment and accessory purchases of $150 or more (through March 2025, with a limit of 25,000 bonus points)
3 points per dollar on dining, select streaming services and online grocery store purchases (excludes Target, Walmart and wholesale clubs)
2 points per dollar on all travel not booked through the Chase travel portal
1 point per dollar on everything else

Redeeming points With the Chase Sapphire Preferred

When you’re ready to redeem the points you’ve earned with the Chase Sapphire Preferred, you’ll understand why the card shines.

Chase Ultimate Rewards travel portal

You can use your points to purchase airfare, reserve hotel rooms and even rent a car through Chase Travel — all at a fixed rate of 1.25 cents per point. That means you don’t need to worry about blackout dates or finding award space; you’ll always have the option to book travel using your points. As long as there’s a seat for sale on the flight you want, or a hotel room available to reserve with cash, you can pay for it with your points.

Just note that hotel reservations booked through third-party sites (including Chase Travel) typically won’t earn points or count toward elite status qualification.

Transfer to Chase travel partners

It’s possible to receive more than 1.25 cents per point in value by transferring rewards to Chase’s 14 airline and hotel partners. Some of the best Chase transfer partners include Hyatt, United, British Airways and Singapore Airlines for luxury hotels and plane seats.

Utilizing these transfer partners can net you phenomenal value. Chase frequently runs transfer bonus promotions where you can get up to 30% more points or miles when you transfer Ultimate Rewards to a transfer partner. I was able to snag a last-minute premium economy ticket from New York to Amsterdam using Flying Blue for just 20,500 Ultimate Rewards points using a transfer promotion.

Pay Yourself Back

If you want to use the points from your Sapphire Preferred at a fixed value for something other than travel, consider Chase’s Pay Yourself Back option. This feature can only be used to cover donations to select charities (through Dec. 31. 2023) at a value of 1.25 cents per point.

Chase Sapphire Preferred benefits

In addition to the sign-up bonus, there are many appealing perks to being a Sapphire Preferred cardholder.

$50 annual hotel credit

You’ll receive a $50 statement credit on hotel stays purchased through the Chase Ultimate Rewards travel portal upon opening the card and on each cardmember anniversary. It’s automatically applied to your account each year when you make an eligible charge. Note that the $50 credit does not earn Chase Ultimate Rewards points.

10% annual points bonus

Another change Chase added to the card is a 10% anniversary points bonus. Cardholders will receive a 10% bonus based on their total spending during the account anniversary year at a rate of 1 point for each $10 spent. For example, if you spent $100,000 on your Sapphire Preferred during your cardmember year, you’ll receive 10,000 bonus points at the end of the year.

Note that this 10% is calculated on the dollars you spent rather than the points you earned. You won’t receive additional points by leveraging the card’s bonus categories.

DoorDash

The Chase Sapphire Preferred also includes at least one year of complimentary DashPass membership with DoorDash, which gives you free delivery and reduced service fees on eligible purchases (activate by Dec. 31, 2024). There is a cost associated with using food delivery services such as DoorDash, but this can be a valuable benefit if you already use the service.

Instacart+

The Chase Sapphire Preferred includes six months of Instacart+ and a $15 statement credit quarterly on qualifying Instacart purchases. You must enroll for this benefit by Jul. 31, 2024 at the Instacart website.

GoPuff

The Sapphire Preferred includes a $10 statement credit when you make $10 in qualifying purchases. No enrollment is required. It is important to note that this credit ends Dec. 31, 2023 so act fast before the year ends to use it. GoPuff is good for having snacks, beverages, household essentials and toiletries delivered to you with a minimal fee.

Travel protections

This card is an ideal choice to pay for travel bookings such as car rentals, cruises, plane tickets and hotels because of the comprehensive travel and purchase protections it affords. Among them, cardholders can expect the following:

You can read more about the Chase Sapphire Preferred shopping and travel benefits here.

Which cards compete with the Chase Sapphire Preferred?

Many worthwhile mid-tier travel credit cards exist, but only a few can go toe-to-toe with the Sapphire Preferred. If trying to decide, think about which one’s earning power suits your spending habits and which one’s transfer partners you’re more likely to maximize.

For additional options, check out our full list of the best starter credit cards.

The information for the American Express Green Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Bottom line

If you’re ready to move beyond cash-back or fixed-value travel rewards credit cards, there is no better place to start than with the Chase Sapphire Preferred.

After its debut over a decade ago, it’s still regarded as one of the best rewards credit cards. It earns some of the most valuable points and is flexible enough to meet the reward needs of frequent and newbie travelers alike. It also features an annual fee that makes it accessible for most budgets.

The Chase Sapphire Preferred continues to represent a solid value proposition across different categories, especially as a travel rewards credit card. As long you’re using the card frequently enough to get more than $95 in value from it, this card is definitely worth the annual cost.

Apply here: Chase Sapphire Preferred

Chase Sapphire Preferred credit card review

Chase Sapphire Preferred Card overview

*Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

Chase Sapphire Preferred welcome offer

Earning points With the Chase Sapphire Preferred