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The Chase Sapphire Preferred® Card is one of the top travel credit cards on the market today — and for good reason. It offers valuable flexible travel points for a reasonable annual fee of $95. 

Cardholders earn bonus points on travel, dining, online grocery purchases, and streaming services. You can use points to book travel through Chase or transfer them to airline and hotel partners for potentially greater value.

The card also comes with a generous sign-up bonus, a 25% bonus on travel booked through Chase, an annual $50 hotel credit, and a 10% anniversary point bonus, further boosting its value.

Fox Money Rating: 9.5/10

The Chase Sapphire Preferred is a steal for travelers who value high earning rates and flexible redemptions. While it may not offer the most luxurious perks, its well-rounded features and $95 annual fee make it a top contender in the travel card market.

Pros

• Reasonable $95 annual fee
• Lucrative sign-up bonus
• High earning rates on restaurants, travel, and streaming services
• Points transfer to airlines and hotels
• Redeem rewards for 25% more via Chase Travel℠
• Annual $50 hotel benefit
• Get 10% bonus points on each card anniversary
• No foreign transaction fees

Cons

• High variable APR applies
• Lacks luxury travel benefits like airport lounge access
• Requires good to excellent credit

Chase Sapphire Preferred® Card key features and benefits 

The Chase Sapphire Preferred has plenty working for it, including its rewards, travel perks, and ongoing benefits. Let's unpack everything this travel credit card has to offer.

One of the standout features of the Chase Sapphire Preferred® Card is its robust rewards program. As a cardholder, you'll earn:

• 5X points on travel booked through Chase (after the $50 annual hotel credit is earned)
• 5X points on Lyft rides (through March 31, 2025)
• 3X points on dining, including takeout and delivery
• 3X points on online grocery purchases (excluding Walmart, Target, and wholesale clubs)
• 3X points on select streaming services
• 2X points on other travel purchases
• 1X points on all other purchases

These bonus categories align with frequent travelers' spending habits, allowing you to rack up points on everyday expenses like dining out, streaming your favorite shows, and even getting around town with Lyft.

New cardholders can earn a sign-up bonus of 60,000 points after spending $4,000 on purchases within the first three months of account opening. This isn’t as high as previous welcome offers, but it’s still a solid bonus and relatively easy to reach. 

Thanks to the 25% bonus value offered by the card, this bonus is worth $600 when redeemed for cash back, statement credits, or gift cards. It can even be worth up to $750 when used to book travel through the Chase Travel portal.

The Chase Sapphire Preferred® Card really shines when it comes to travel benefits. These benefits can provide peace of mind and save money when travel mishaps occur. As a cardholder, you'll enjoy:

• Annual hotel credit: Each year, you'll receive a $50 credit to use on hotel stays booked through the Chase Travel portal.
• Trip cancellation/interruption insurance: If your trip is canceled or cut short due to covered reasons, you can be reimbursed up to $10,000 per person and $20,000 per trip.
• Trip delay reimbursement: If your travel is delayed more than 12 hours or requires an overnight stay, you can be reimbursed up to $500 per ticket for expenses like meals and lodging.
• Baggage delay insurance: If your checked bag is delayed by more than six hours, you can be reimbursed up to $100 per day for up to five days for essential purchases like toiletries and clothing.
• Lost luggage reimbursement: If the carrier damages or loses your checked or carry-on bags (or an immediate family member's bags), you're covered up to $3,000 per person per trip.
• Primary rental car insurance: Decline the rental company's collision damage waiver, and you'll be covered for theft and collision damage on most rental cars in the U.S. and abroad.
• Travel accident insurance: You're eligible for up to $500,000 in accidental death or dismemberment coverage if you pay for air, bus, train, or cruise tickets with your card.

In addition to its travel benefits, the Chase Sapphire Preferred offers several other perks that add to its overall value:

• 10% anniversary point bonus: Each year on your account anniversary, you'll receive a 10% bonus on all the points you've earned in the previous 12 months. For example, if you earned 50,000 points, you'd get an extra 5,000 points added to your rewards balance.
• DoorDash DashPass subscription: Enjoy a complimentary DoorDash DashPass subscription for a minimum of one year when you activate by Dec. 31, 2027. This subscription provides unlimited $0 delivery fees and reduced service fees on eligible orders.
• Purchase protection: If an item you bought with your card is damaged or stolen within 120 days of purchase, you can be reimbursed up to $500 per claim and $50,000 per account.
• Extended warranty protection: Eligible purchases with a warranty of three years or less may have that warranty extended by an additional year.

One key benefit of this card is the flexibility offered by the Chase Ultimate Rewards program. You can redeem points for travel, cash back, statement credits, gift cards, or purchases through Amazon.com or PayPal. 

Here’s a closer look at how you can redeem points for travel purchases. 

You can book flights, hotels, rental cars, and more through the Chase Travel portal and get 1.25 cents per point in value. This 25% bonus can significantly stretch your rewards further.

You can also transfer your points at a 1:1 ratio to any of Chase's airline and hotel partners for potentially even greater value. Here’s a complete list of travel partners:

Airline partners

• Aer Lingus AerClub
• Air Canada Aeroplan
• Air France-KLM Flying Blue
• British Airways Executive Club
• Emirates Skywards
• Iberia Plus
• JetBlue TrueBlue
• Singapore Airlines KrisFlyer
• Southwest Airlines Rapid Rewards
• United Airlines MileagePlus
• Virgin Atlantic Flying Club

Hotel partners

• IHG® Rewards Club
• Marriott Bonvoy®
• World of Hyatt®

Point values vary among Chase airline and hotel partners — anywhere from 0.7 cents per point to 2.6 cents per point. It's all about comparing transfer partners to find the right deal. 

Let's use an example to highlight how a strategic travel redemption could work. Let's say you’re traveling to Aruba in late August and considering staying at the Hyatt Regency Aruba Resort Spa and Casino. You could pay the cash price of $454 per night or transfer 25,000 Chase points to Hyatt to make your booking instead.

If you transferred points to World of Hyatt, you'd be getting around 1.8 cents per point in value for the redemption. Instead of paying a $454 nightly rate, you’d effectively pay $250 by transferring rewards. 

You could also book this hotel through the Chase portal and get 25% more value for each point redeemed. However, the same nightly rate would cost 36,320 points, so transferring your points to the partner may make more sense. 

While there's plenty to love about the Chase Sapphire Preferred, there are some downsides to consider.

If you're looking for premium perks like airport lounge access, the Chase Sapphire Preferred might not be the best fit. It lacks some of the luxury benefits offered by higher-end travel cards.

However, premium travel cards also have much higher annual fees, so it's important to weigh the cost against the benefits you'd actually use.

If you want more premium perks, consider the Chase Sapphire Reserve®. This card also earns flexible points but offers 50% more value when redeeming rewards for travel through Chase. This card has a $550 annual fee but comes with a $300 annual travel credit and a Priority Pass Select airport lounge membership. 

The Chase Sapphire Preferred® Card carries a high variable APR. If you tend to carry a balance from month to month, the interest charges can negate the value of any rewards you earn. It's always best to pay your balance in full each month to avoid paying interest. If you need to carry a balance, you might be better off with a low-interest credit card.

While the Chase Sapphire Preferred offers a lot of redemption flexibility, the process can be complex, especially if you're new to travel rewards. Transferring points to airline and hotel partners can yield great value, but it also requires research and strategizing to get the best redemption rates. A cash back card might be a better choice if you prefer a simpler rewards program.

The Chase Sapphire Preferred® could be ideal for you in several scenarios. Consider getting this card if:

• You travel frequently: If you take several trips per year, the Chase Sapphire Preferred can help you earn valuable rewards on your travel spending. Plus, the card's travel protections can save you money if something goes wrong on your trip.
• You spend a lot on dining and travel: The card's bonus categories (3X points on dining and 2X points on travel) align well with many consumers' spending habits. If you spend a lot on dining out, flights, hotels, and other travel expenses, you can rack up points with this card.
• You're comfortable using airline and hotel partners: One of the best ways to maximize the value of your points is by transferring them to airline and hotel loyalty programs. If you enjoy finding high-value redemptions, you'll love the Sapphire Preferred's flexibility. However, if you prefer a simpler rewards structure, you might get more value from a straightforward cash back or travel card.

Consider how this card compares to other mid-tier travel cards, including the Capital One Venture Rewards Credit Card and the newly updated Citi Strata Premier Card.

The Capital One Venture Rewards Credit Card is another popular travel rewards card with a $95 annual fee. The Venture card earns 2X miles on all purchases, making it a great option to earn rewards without keeping track of bonus categories. 

The Chase Sapphire Preferred® card has a $50 annual hotel stay credit and a 10% anniversary point bonus, while the Venture Rewards card does not. The Preferred card also offers a wider range of travel protections.

Overall, both cards are solid choices for frequent travelers. The Capital One Venture may be better for people who want straightforward rewards and aren't interested in maximizing point value through transfer partners. The Sapphire Preferred is better for those who enjoy finding high-value redemptions and can take advantage of the card's bonus categories and travel protections.

The Citi Strata Premier℠ Card (formerly known as the Citi Premier Card) is another strong contender in the mid-tier card category. This card offers an impressive array of bonus categories, including hotels, car rentals, and air travel booked through Citi's travel portal, as well as at restaurants, supermarkets, and gas stations.

Like the Sapphire Preferred, the Citi Strata Premier lets you transfer points to airline and hotel partners. However, Citi's roster of transfer partners is more limited than Chase's. It also doesn’t offer a bonus when redeeming points for travel through its portal.

The Citi Strata Premier offers a $100 annual hotel savings benefit when you book a $500 or more stay through Citi's travel portal. The Sapphire Preferred offers a $50 annual hotel credit for bookings made through Chase. Both cards offer various travel and purchase protections.

Choosing between the Citi Strata Premier and the Chase Sapphire Preferred depends on which bonus categories and transfer partners suit your spending and travel habits. 

If you spend a lot on gas, groceries, and Citi's 5X and 10X bonus categories, the Strata Premier will likely earn you more points. The Sapphire Preferred may be better if you spend more on non-bonus travel and can take advantage of Chase's transfer partners.

Every credit card review we publish has undergone a rigorous editorial process to ensure accuracy and objectivity. Learn more about our methodology here.

Here are some of the factors that influenced this card’s overall score:

• Rewards: The Chase Sapphire Preferred Card excels in its rewards structure, offering high earning rates across popular spending categories like travel and dining. The 25% bonus value when redeeming points for travel through Chase and the ability to transfer points to airline and hotel partners at a 1:1 ratio further boost the card's appeal. 
• Redemption flexibility: The card's redemption options are diverse and flexible, allowing cardholders to use their points for travel bookings, statement credits, gift cards, and more. 
• Benefits: The Chase Sapphire Preferred offers a suite of travel benefits, including travel insurance, an annual hotel credit, and a 10% anniversary rewards bonus. While it may not provide luxury perks like lounge access, the card's benefits are useful for most travelers.
• Annual fee: The annual fee of $95 is reasonable, considering the card's rewards and benefits. It can be easily justified for frequent travelers and those who can maximize the card's bonus categories and perks.
• Welcome bonus: The welcome bonus is solid, significantly boosting the cardholder's points balance. The spending requirement to earn the bonus is achievable for the card's target audience.
• Rates & other fees: The Sapphire Preferred's main drawback is its high APR and lack of introductory 0% APR offers. But this is less of a concern for users who pay their balances in full each month and avoid interest charges.

The Chase Sapphire Preferred is easily among the most rewarding mid-tier travel cards. You can pay several hundred dollars per year more to access luxury travel benefits, but the Chase Sapphire Preferred® can be a better deal if you want to keep costs down. 

Editorial disclosure: Opinions expressed are author's alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.

Holly D. Johnson

Johnson has been a personal finance contributor for more than 10 years. She focuses on investing, banking products, credit cards and scoring and insurance.

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