Chase Sapphire Preferred Card Overview
*Card rating is based on the opinion of TPG editors and is not influenced by the card issuer.
At TPG, one of the most frequently asked questions is, “which travel credit card should I start with?”
We almost universally recommend the Chase Sapphire Preferred Card because it earns one of our favorite rewards currencies and comes with the significant benefits of a low annual fee. In fact, many of us started our points and miles journey with this card.
Because of this – and more – the Chase Sapphire Preferred remains a top choice among TPG employees year after year. Whether you’re planning to book a trip through Chase Travel or use your hard-earned points to redeem airfare or hotel stays through our airline and hotel referral partners, Sapphire Preferred offers outstanding value.
It’s designed for casual and casual travelers and with an annual fee of $95, it’s a great choice for beginners.
TPG recommends that applicants have a credit score of at least 670 to qualify for Sapphire Preferred, but it is common for someone to be approved with a lower score.
Here’s what you need to know about Sapphire Preferred if you’re thinking about adding it to your portfolio.
Chase Sapphire Pros and Cons
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Chase Sapphire Preferred Welcome Offer
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This points deduction costs a minimum of $750 when used through the Chase portal, but you can increase the value by using Chase’s transfer partners. According to TPG prices for December 2024, Chase Ultimate Rewards points are worth 2.05 cents each, making this bonus $1,230.
Related: How to get the most out of Chase Ultimate Rewards
Chase Sapphire Preferred Benefits
In addition to the welcome bonus, there are many attractive benefits of being a Sapphire Preferred cardholder.
You’ll receive a statement credit of up to $50 on hotel stays purchased through Chase Travel when you open the card and each account anniversary. It’s automatically applied to your account each year when you charge the right amount. Note, however, that the $50 credit does not earn Chase Ultimate Rewards points.
I always use this hotel credit when I’m overseas in a small town that doesn’t have many hotels where I can’t earn special nights or loyalty points since booking through an OTA like Chase Travel usually doesn’t qualify for high status benefits at hotels. .
Cardholders also enjoy a 10% anniversary points bonus each year. This 10% bonus is based on your net income during the account recall year at a rate of 1 point per $10 spent. If, for example, you spend $100,000 on your Sapphire Preferred during your cardmember year, you’ll earn 10,000 bonus points at the end of the year.
However, this 10% bonus is calculated from the dollars you spend rather than the points you earn, meaning you won’t earn more points by using the card’s bonus categories.
Chase Sapphire Preferred includes at least one year of DoorDash DashPass membership, which includes benefits like free delivery and reduced service fees on eligible purchases (valid Dec. 31, 2027). There are costs associated with using food delivery services like DoorDash, but this can be a significant benefit if you already use the service.
Finally, Sapphire Preferred is the perfect choice for travel bookings such as car rentals, cruises, airline tickets, and hotels because it comes with complete travel and purchase protection. Among them, cardholders can expect the following:
You can learn more about the Chase Sapphire Preferred shopping and travel benefits here.
Related: 7 Chase Sapphire Preferred Benefits You May Not Know About
Earning points with Chase Sapphire Preferred
I Chase Sapphire Preferred has a simple earning structure that is easy to grow:
- Earn 5 points for every dollar spent on travel booked through Chase Travel
- Earn 5 points per dollar spent on Lyft purchases (through March 2025)
- Earn 5 points per dollar spent on Peloton equipment and service purchases of $150 or more (through March 2025, with a limit of 25,000 bonus points)
- Earn 3 points per dollar spent on dining, select streaming services, and online grocery shopping (except Target, Walmart, and Whole Foods Clubs)
- Earn 2 points per dollar spent on all travel not booked through Chase Travel
- Earn 1 point per dollar spent on everything else
Those are some of the best earning rates in the game, especially when you consider that you’re earning valuable Chase Ultimate Rewards points.
Related: Why you’ll want to pay the $95 annual fee on the Chase Sapphire Preferred
Uses points with Chase Sapphire Preferred
When you’re ready to use the points you’ve earned through Chase Sapphire Preferred, you will understand why the card shines.
You can use your points to purchase airfare, book hotel rooms, and rent a car through Chase Travel — all for a flat rate of 1.25 cents per point.
That means you don’t have to worry about blackout dates or finding award space; you will always have the option to book a trip using your points. As long as the sale seat on your desired flight or hotel room is available for cash booking, you can pay for it with your points.
Note that hotel reservations booked on third-party sites generally do not earn points or count toward status eligibility.
You also have the option of redeeming your points for cash back or gift cards at a rate of one cent per point or a slightly higher price if you take advantage of Chase’s Pay Yourself Back option. However, these redemption options are less important than transferring your points to Chase travel partners, so we recommend avoiding them whenever possible.
Related: 6 Chase Ultimate Rewards sweet spots
Transferring points with Chase Sapphire Preferred
You can earn more than 1.25 cents per point in value by transferring rewards to them 14 Chase airline and hotel partners. Some of the best Chase transfer partners include World of Hyatt, United, British Airways, and Singapore Airlines for luxury hotel stays and comfortable airline seats.
Using these transfer partners can net you an incredible amount. Chase often runs transfer bonus promotions where you can earn up to 30% points or miles when you transfer Top Rewards to a transfer partner.
For example, TPG credit card writer Chris Nelson often transfers points to Hyatt and gets rooms during peak season in Europe for as low as 4,000 points a night. Hyatt has a number of great redemption destinations, making it a very valuable transfer partner.
One TPG reader got the highest points earned with Sapphire Preferred for his first business class flight:
“I was able to make my first redemption in business class (Dublin to Boston on Aer Lingus for 50k).” – Alejandro P with X
Note: Feedback submitted by readers has not been edited, reviewed or approved by the issuers and does not reflect TPG’s views on these cards.
Using our preferred travel transfer partners is a solid way to maximize your Top Rewards points and get value for your money with Sapphire Preferred.
Related: The complete guide to Chase Ultimate Ultimate Rewards partners
What cards compete with the Chase Sapphire Preferred?
Many mid-range travel credit cards exist, but only a few can go toe-to-toe Sapphire is Preferred. When you’re trying to decide which is best for you, consider which credit card capabilities suit your spending habits and which transfer partners you can leverage.
For more options, check out our full list of the best startup credit cards.
American Express Green Card information is independently collected by The Points Guy. The card information on this page has not been updated or provided by the card issuer.
*Note: As of 13 Jan. 2025, the $100 LoungeBuddy credit bonus will no longer be available.
Read more: Chase Sapphire showdown: Sapphire Preferred vs. Sapphire Reserve
Bottom line
When you’re ready to move on cash back or fixed-value travel rewards credit cards, there’s no better place to start than the Chase Sapphire Preferred.
After its debut ten years ago, it is still considered one of the best rewards credit cards. It earns some valuable points and is flexible enough to meet the award needs of both frequent and new travelers. As long as you use the card often enough to get more than $95 in value from it, this card is definitely worth the annual fee.
Apply here: Chase Sapphire Preferred
