Whether you just learned about travel credit cards on TikTok or are a seasoned pro at using rewards to reduce vacation costs, the Chase Sapphire Preferred® card is an excellent option to help you save on travel. It has a generous rewards program and new cardmember bonus and, if you use your card to book your airfare and accommodations, it also provides you with significant protections and added benefits.
However, the card has an annual fee and no promotional annual percentage rate (APR) for purchases or balance transfers. Whether the Chase Sapphire Preferred card would be a worthwhile addition to your wallet depends on your spending and travel habits.
Chase Sapphire Preferred Card
Annual fee: $95
Welcome offer: Earn 60,000 bonus points after spending $4,000 in the first three months
Rewards:
5x points on travel booked through Chase
5x points on Lyft rides (through March 31, 2025)
5x points on Peloton purchases over $150 (through March 31, 2025)
3x points on dining, select streaming services, and online grocery purchases
2x points on other travel purchases
1x points on everything else
More details: $50 annual hotel credit, 25% higher redemption value when you use points to book travel through Chase, and perks at partners like DoorDash, Instacart, Lyft, and Peloton.
APR
The Sapphire Preferred’s variable APR ranges from 21.49% to 28.49%, depending on your credit.
Annual fee
The Chase Sapphire Preferred Card has an annual fee of $95. Even occasional travelers may find it easy to recoup that cost with the card’s added benefits.
Welcome offer
New card members can earn 60,000 bonus points after spending at least $4,000 on purchases within the first three months of opening an account. Those points are worth $750 if you use them to book travel through Chase.
You're only eligible for the bonus if you haven't received another Chase Sapphire card member bonus — such as from the Chase Sapphire Reserve Card — within the past 48 months.
Intro rate
This card doesn’t offer a 0% introductory APR on purchases or balance transfers. The standard APR applies right away.
Rewards rate
You can earn the following rewards with the Chase Sapphire Preferred Card:
5x points on travel purchased through Chase Travel
5x points on Lyft rides (through March 31, 2025)
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3x points on dining, including qualifying delivery services and takeout
3x points on groceries purchased online (excluding wholesale clubs, Target, or Walmart)
3x points on select streaming services
2x points on other travel purchases
1x points on all other purchases
How to earn rewards
You’ll earn points on every purchase you make with the Sapphire Preferred Card. However, you can maximize your earnings by booking travel like flights, hotels, and rental cars through Chase — this nets you 5x points, compared to the 2x points you earn when booking elsewhere.
In addition, dining will net you 3x points, whether you dine in a restaurant, drop in for takeout, or order through an eligible delivery service. If you frequently purchase groceries online, you could also reap larger rewards. However, popular retailers like Target or Walmart don’t qualify.
You don’t earn rewards on any credits, cash advances, or balance transfers.
How to redeem rewards
The Chase Ultimate Rewards program offers several ways to cash in your points, offering more flexibility than some other cards. But, using your points to book travel through Chase or transferring them to a loyalty program partner can maximize your point value.
If you redeem your points through Chase Travel, you’ll receive a 25% bonus on your points’ value. But if you don’t find what you’re looking for there, you can transfer your points directly to a partner airline or hotel. Points transfer at a 1:1 ratio to over a dozen travel partners.
In addition, you can cash in your points via:
Cash back
Statement credits
Credits for qualifying purchases
Gift cards
Amazon and Apple purchases
Bookings made through Chase Experiences or Chase Dining
Additional benefits
Credits
You’ll earn an annual $50 credit after booking a hotel through Chase Travel. Maxing out that perk alone essentially cuts the annual fee in half.
In addition, you earn bonus points on your account anniversary each year. Get a bonus equal to 10% of your spending over the last 12 months. If you spent $20,000 on the card last year, for example, you’ll get a 2,000-point anniversary bonus.
Travel
The Chase Sapphire Preferred Card is an excellent card to take with you when you travel. It doesn't charge foreign transaction fees, making it especially useful if you're traveling outside of the U.S. Plus, it provides the following travel benefits:
Trip cancellation/interruption insurance: If you use your card to pay for your travel and your trip is canceled or interrupted due to weather, illness, or other covered events, you'll be reimbursed up to $10,000 per person and up to $20,000 per trip for non-refundable expenses like fares and hotel stays.
Baggage delay insurance: If your baggage is delayed by six hours or more when traveling by a passenger carrier, get reimbursed up to $100 per day for up to five days.
Auto rental collision damage waiver: The card provides primary coverage against theft or collision damage if you decline the car rental company's insurance and pay for the entire cost with your card.
Trip delay reimbursem*nt: If your travel on a common carrier is delayed by 12 hours or more, the card will reimburse you for food and lodgings, up to a maximum of $500 per ticket.
Travel and emergency assistance: If you need help while traveling, you can call a benefits administrator for legal and medical referrals, but you're responsible for the cost of any services provided.
Shopping
The Sapphire Preferred also provides the following benefits:
Purchase protection: New purchases made with the card are covered against theft or damage for up to 120 days for up to $500 per claim and $50,000 per account.
Extended warranty: On purchases with warranties of three years or less, the card will extend the warranty.
Partner benefits: For a limited time, you can take advantage of the following:
5x points on Lyft rides through March 31, 2025
5x points on purchases of $150 or more of Peloton equipment (up to a maximum of 25,000 points) through March 31, 2025
Six months of complimentary membership to Instacart+ if you enroll by July 31, 2024
Get a complimentary DoorDash and Caviar membership and take advantage of $0 delivery fees if you enroll by Dec. 31, 2024
Who is the Chase Sapphire Preferred best for?
While frequent travelers should easily recoup their costs with the rewards they earn, you don’t need to travel every month to get good use out of the Sapphire Preferred. Even occasional vacationers can come out ahead with a little planning.
Consider the card’s welcome bonus of 60,000 points after spending at least $4,000 in the first three months. Those points are worth $750 when redeemed through Chase Travel — enough to offset the $95 annual fee for the first seven years. Add in the card’s numerous other perks, including an annual $50 hotel credit, and it’s easy to see how many people could use this card to their advantage.
However, if you rarely travel or don’t often spend in the card’s bonus reward categories, you may not have much use for this card. The same goes for applicants who aren’t eligible for the welcome bonus or who might struggle to spend the $4,000 necessary to earn it. If you fall into any of these categories, you may have to work a little harder to make this card worthwhile.
Chase Sapphire Preferred pros
Competitive earning categories: This card offers solid rewards for both travel and everyday categories. If you can maximize these on a regular basis, you could quickly rack up points.
Bonus redemption value: Redeeming your points through Chase Travel offers a 25% bonus in your points’ value. That means you can stretch your rewards farther and get more bang for your buck.
Transfer partners: If you prefer to book travel directly with the provider, it’s easy to transfer your points to more than a dozen airline and hotel partners. Doing so could increase the value of your rewards even more, depending on what you redeem them for.
Travel protections: Frequent travelers may be put at ease by the Sapphire Preferred’s ample travel insurance and reimbursem*nt opportunities. Notably, the card offers primary rental car coverage; many travel cards only offer secondary coverage for rentals, meaning any claims must go through your personal car insurance first before the card’s insurance will kick in.
Chase Sapphire Preferred potential cons
No promotional APR: Unlike many cards, the Sapphire Preferred doesn't have a promotional APR offer on purchases or balance transfers.
Annual fee: While there are many rewards cards without annual fees, this card has a $95 annual fee. Make sure the rewards and perks you earn outweigh that cost.
High-value redemption options may be limited: You must redeem your points for travel through Chase or transfer points to a travel partner to get the most value for your rewards. Other redemption methods, such as gift cards or statement credits, give you less value for your points.
High spending requirement for new cardmember bonus: The new cardmember bonus is relatively high, but it requires you to spend at least $4,000 within three months of opening an account. That works out to about $1,330 a month in purchases, which may be out of some cardholders’ typical budgets.
Where can you use the Chase Sapphire Preferred Card?
The Chase Sapphire Preferred Card is a Visa card, meaning it belongs to the largest credit card network. It's accepted by most physical and online retailers.
How to make a Chase Sapphire Preferred payment
You can make a payment online, through the Chase mobile app, over the phone or by mail:
Online or in-app: Visit chase.com/paycard or download the Chase app and log into your account to make a payment via a linked checking or savings account.
Phone: You can make a payment 24 hours a day, seven days per week, through Chase's automated phone line at 1-800-436-7958.
Mail: Mail a check or money order to the following address:
Cardmember Services
P.O. Box 6294
Carol Stream, IL 60197-6294
Chase Sapphire Preferred customer service info
To get help with your account, contact customer support through the following methods:
Phone: 1-800-432-3117
Chase’s credit card resource center
Chase Sapphire Preferred login page
Alternative cards to consider
Capital One Quicksilver Cash Rewards Credit Card
Why we like it: The Quicksilver Cash Rewards card stands out for its straightforward 1.5% cash back on all purchases, offering simplicity compared to the Chase Sapphire Preferred's category-based reward system. With no annual fee, it’s also a more cost-effective option for those who prefer a hassle-free experience. Additionally, its flexible redemption options, allowing cash back to be redeemed in any amount at any time, provide greater accessibility and convenience for users.
Read a comparison of the Quicksilver Cash Rewards card.
Chase Sapphire Reserve®
Why we like it: The Chase Sapphire Reserve offers significantly higher rewards, particularly with its 3x points on travel and dining worldwide, compared to the Sapphire Preferred's 2x points in these categories. Its inclusion of a $300 annual travel credit effectively offsets a substantial portion of the higher annual fee, making it more valuable for frequent travelers. Additionally, the Reserve provides superior travel benefits like access to over 1,300 airport lounges worldwide through Priority Pass Select, enhancing the overall travel experience.
Read our full review of the Chase Sapphire Reserve.
Blue Cash Everyday® Card from American Express
Why we like it: The Blue Cash Everyday Card from American Express is appealing for its strong cash-back rates in everyday spending categories, offering 3% at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). This is more beneficial for typical shoppers compared to the Sapphire Preferred, which only offers bonus grocery rewards for online orders.
It also stands out with a $0 annual fee, making it a cost-effective choice for budget-conscious consumers. Plus, the card’s introductory 0% APR on purchases and balance transfers for the first 15 months is a significant perk that the Sapphire Preferred doesn’t offer. (See rates and fees.)
This article was edited by Alicia Hahn
Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers.
