Chase Sapphire Preferred

Advertiser Disclosure Editorial Disclosure

Last updated on April 26th, 2022

Chase Sapphire Preferred

Chase Sapphire Preferred
  • Regular Purchase APR 16.24% to 23.24% variable based on creditworthiness and Prime Rate
  • Balance Transfer APR 16.24% to 23.24% variable based on creditworthiness and Prime Rate
  • Cash Advance APR 25.24% variable based on Prime Rate
  • Annual Fee $95
  • Credit NeededBestCards.com uses a variation of FICO Score 8, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card.
    Excellent , Good
  • Processing Network Visa
Best Benefits
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®
  • Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel
  • With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
Rates & Fees
  • Regular Purchase APR: 16.24% to 23.24% variable based on creditworthiness and Prime Rate
  • Balance Transfer APR: 16.24% to 23.24% variable based on creditworthiness and Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 5% of each transfer amount, whichever is greater
  • Cash Advance APR: 25.24% variable based on Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of each transaction amount, whichever is greater
  • Penalty APR: Up to 29.99% variable based on the Prime Rate
  • Annual Fee: $95
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $40
Credit Card Deals

Browse these credit card deals and thousands of other offers by becoming a Bestcards Member.

Join today!

At a Glance

For customers with a hunger for travel and (literally) dining, the Chase Sapphire Preferred® Card offers a robust set of rewards and perks to ensure that they get the most out of their purchases. Plus, a sizable introductory bonus allows them to begin collecting – and redeeming – points immediately. 

Ideal for Those Who:

  • Travel often enough to make up for the annual fee 
  • Will take advantage of the travel insurance and other emergency perks 
  • Are looking for flexibility when it comes to rewards, with the option to redeem for gift cards, flights and more 
  • Plan to maximize their points by redeeming through Chase Ultimate Rewards® 
  • Have a very good to excellent credit score, and can meet the spending requirement for the introductory bonus 

Chase Sapphire Preferred Review

The Chase Sapphire Preferred® Card’s biggest selling point is just how traveler-friendly it is. An industry-leading introductory offer, coupled with double points on a multitude of eligible purchases within the travel and dining categories, set cardholders up for a steady stream of rewards. Adding on powerful traveler protection for when things take a wrong turn ensures that Chase members start off their account opening with plenty of available perks. 

Maximizing Chase Sapphire Preferred Benefits

The Chase Sapphire Preferred Card starts you off on a high note with a generous introductory bonus of 80,000 points. To earn this major boost in rewards, you need to spend at least $4,000 in your first 3 months as a cardholder. That bonus has a value of $1,000 toward travels when redeemed through Chase Ultimate Rewards®.

That comes out to just over $1,300 per month – not a small sum by any meansHowever, if your travel plans for the year fit into your budget, booking ahead of time can help you reach this spending requirement without hurting your credit.  

In addition to the bonus, this Visa Signature® card allows you to earn up to 5X points for every dollar spent. That 5X points applies to all travel purchased through Chase Ultimate Rewards, though other travel purchases also earn an impressive 2X points per dollar spent.

The Sapphire Preferred also enjoys enhanced Ultimate Rewards earning potential in other categories, including:

  • 3x points on dining, including eligible delivery services, takeout, and dining out (previously 2x)
  • 3x points on select streaming services
  • 3x points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)

As an extra incentive, Chase rewards you with an additional point boost when you refer a friend.   Most importantly, your points don’t expire, and you don’t have to worry about foreign transaction fees for purchases made abroad. All you need to keep in mind is the $95 Chase Sapphire Preferred® annual fee and start saving up for your dream trip. 

Other notable Chase Sapphire Preferred benefits include:

  • $50 annual credit on hotel stays purchased through Ultimate Rewards.
  • 10% Ultimate Rewards point bonus on each account anniversary.

Chase Sapphire Preferred Vs. Sapphire Reserve: Which Is Right for You?

Not sure which Chase Sapphire credit card is right for you? Here is a helpful, quick breakdown of the features of both the Sapphire Preferred and luxurious Sapphire Reserve:

chase sapphire preferred visa signature review

Chase Sapphire Preferred

$ 95 Annual Fee
  • 5X points on travel purchased through Chase
  • 2X points on all other travel
  • 3X points on dining and online grocery purchases
  • 3X points on select streaming services
  • $50 Annual Ultimate Rewards Hotel Credit
  • 25% more points value through Ultimate Rewards
  • 10% anniversary points boost
sapphire reserve 224x141

Chase Sapphire Reserve

$ 550 Annual Fee
  • 3X points on groceries & global dining
  • 3X points on travel
  • $300 travel credit
  • 50% more points value through Ultimate Rewards
  • Priority Pass Select
  • Peloton, Lyft, and DoorDash statement credits

Redeeming or Transferring Chase Sapphire Preferred Rewards

Regardless of whether you plan a weekend road trip or a month-long overseas getaway, you can use the Chase Sapphire Preferred® credit card for any, if not every, point in your vacation. Namely, you can redeem your points for: 

  • Airline and cruise tickets 
  • Rooms at hotels and motels 
  • Gift cards from more than 150 brands 
  • Statement credits to pay your bill 
  • Online shopping with Amazon and Apple 

Chase also emphasizes its proprietary Chase Ultimate Rewards program, which adds an extra 25% in value when redeeming accumulated points for travel. That’s an additional 25 cents per 100 points redeemed.  

Opting for that route is a savvy way to maximize earning potential right from the start. It also helps make up for the $95 annual fee. When you redeem your points with Ultimate Rewards, your introductory bonus alone is worth over $1,000.  

However, you don’t have to worry if you’re already a member of a travel loyalty program; this card also allows you to transfer your rewards to partnered programs at a 1:1 ratio, so you don’t lose any value. Eligible loyalty programs include: 

Aer Lingus (AerClub) Air France/KLM (Flying Blue) Emirates (Skywards)
Air Canada (Aeroplan) British Airways (Executive Club) Iberia Plus
JetBlue (TrueBlue) Southwest (Rapid Rewards) Singapore Airlines (KrisFlyer)
Virgin Atlantic (Flying Club) United Airlines (MileagePlus) IHG Rewards
Marriott Bonvoy World of Hyatt

Chase Sapphire Preferred Travel Insurance

If you’re the type of traveler that likes to be prepared for anything, the Chase Sapphire Preferred® Card has you covered. Along with bonus points, your cardholder status makes you eligible for several types of emergency coverage. This includes: 

  • $10,000 per person for trip cancellation or interruption on nonrefundable travel costs  
  • Trip reimbursement up to $500 per ticket for flights delayed over 12 hours 
  • $100 per day reimbursement for essentials when your bags are delayed more than 6 hours 
  • Collision insurance for car rentals when you waive coverage with the rental company 
  • Purchase protection for damage and theft up to 120 days after a purchase 
  • Extended manufacturer’s warranties on eligible items 

Keep in mind that like coverage with other travel rewards cards, there are certain limitations and restrictions. For example, the trip cancellation insurance is capped at $20,000 per trip. Your circumstances must also fall under a covered situation, such as hostile weather or sickness.  

Chase Sapphire Preferred Partnerships

Chase is also well-known for offering extra deals through its various partnerships. This allows you to rack up even more rewards while earning discounts. For example, when you activate your DashPass subscription and add your Chase Sapphire Preferred credit card as the payment method, you get DoorDash discounts too. This includes no delivery fee on all of your orders and discounted service fee when you spend at least $12. 

You can also earn 5X points for each dollar spent on Lyft rides through Mar. 31, 2022. This includes a wide variety of ride modes, including Lux, Shared, Classic and even scooter and bike rides. It’s worth noting that in your rewards statement, your 3 additional Lyft points will appear on a separate line from the 2 points you normally get for travel expenses. 

Citi Premier® Card Versus Chase Sapphire Preferred

The Citi Premier® Card is another travel juggernaut with a modest annual fee. Perhaps the closets competitor to the Premier is Chase’s Sapphire Preferred. Here is how the two cards stack up:

chase sapphire preferred visa signature review

Chase Sapphire Preferred

$ 95 Annual Fee
  • 5X points on travel purchased through Chase
  • 2X points on all other travel
  • 3X points on dining and online grocery purchases
  • 3X points on select streaming services
  • $50 Annual Ultimate Rewards Hotel Credit
  • 25% more points value through Ultimate Rewards
citi premier card 224x141

Citi Premier® Card

$ 95 Annual Fee
  • Earn 3 Points per $1 spent at Restaurants and Supermarkets
  • Earn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels
  • Earn 1 Point per $1 spent on all other purchases
  • $100 annual hotel credit
  • Easy poinst transfer to nearly 20 partners
  • Use points at Amazon and BestBuy.com
  • No Foreign Transaction Fees on purchases

FAQs About the Chase Sapphire Preferred

Here are some of the most commonly asked questions regarding the Chase Sapphire Preferred Visa Signature, along with the answers:

  • Chase Ultimate Rewards points are worth one cent per point ($0.01/pt). That said, Chase Sapphire cardholders enjoy even more value thanks to enhanced redemption rates through Ultimate Rewards. The Sapphire Preferred Card earns 25% more on travel, for example, or 1.25 cents per points.  The Sapphire Reserve enjoys 50% more value, or 1.5 cents per point when redeeming through Chase Ultimatte Rewards for travel.
  • Chase Ultimate Rewards points won’t expire as long as your credit card account stays open and in good standing.
  • Chase’s 5/24 rule means that you can’t be approved for most Chase cards if you’ve opened five or more personal credit cards (from any card issuer) within the past 24 months.
  • Chase will often automatically increase your credit limit about every 12 months, but an increase is never guaranteed.
  • The Chase Sapphire Preferred Card and the Chase Sapphire Reserve® are both made out of metal. 

Card Availability

Chase credit, debit, and banking products are available in all 50 U.S. states plus the District of Columbia.

card available nationwide

JPMorgan Chase Bank and Chase Sapphire Preferred Ratings

How does the Sapphire Preferred Card stack up? Here are a selection of expert reviews for the card, as well as an overview of JP Morgan Chase as a bank:

5/5
4/5

TrustPilot Rating

N/A

User Rating

5/5

User Testimonials

What is the Chase Sapphire Preferred Visa Signature like to live with? Before deciding if the card is right for you, here’s what our readers and members think about the card:

James
JamesBestCards Member
Read More
This card is excellent for travel rewards on any airline as well as restaurants in the United States and abroad, including hotels and certain travel expenses.
Jesse
JesseBestCards Reader
Read More
LOVE this card and all that it offers! The reward categories and benefits the Sapphire card offers is what makes it stand out and remain as popular as it has been over the years. Chase offers a mobile app w/ the same, if not more, options that what you typically see with Banking/Finance apps. If asked, I would highly recommend applying for one. Just one tip, keep an eye on the sign-on bonus points before applying, because they do fluctuate throughout the year and it's significant enough to justify waiting.
P. Fisher
P. FisherBestCards Reader
Read More
If you have to travel for business, Chase Sapphire Preferred is a very useful card, offering 40,000 bonus points when you spend $3,000 on purchases. You need to do that in the first 3 months of accepting the card, though, so get it right before your next trip. Your points translate into $500 in travel savings when you turn them in through Chase Ultimate Rewards. For a business traveler, this is a good benefit.
Previous
Next

Should You Apply for the Chase Sapphire Preferred®?

To make the most of the Chase Sapphire Preferred Card – especially its $95 annual fee – customers will have to make a habit of using the card often. This card rewards those who reward themselves, so individuals planning to only make occasional purchases in other areas of consumption should consider a different credit card. 

Meanwhile, if you’re looking for more impressive rewards and don’t mind the $550 annual fee, you can consider the Chase Sapphire Reserve® Card. When comparing the Chase Sapphire Preferred vs Reserve cards, you’ll notice several differences. Namely, the Reserve offers an extra point for dining and travel, a generous statement credit and even more value when you redeem through Ultimate Rewards.

Browse Other Chase Credit Card Offers: