Chase Sapphire Preferred® Card Review
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Who is the Chase Sapphire Preferred® Card best for?
If you’re a frequent traveler who wants to earn an influx of rewards to use toward free travel, the Chase Sapphire Preferred® Card is an ideal choice. The card offers the following sign-up bonus: Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
Cardholders can also enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
Along with redeeming points for cash, statement credits, gift cards, travel, and products and services, Chase Sapphire Preferred® Card holders can transfer points to a variety of travel transfer partners at a rate of 1:1.
Although the Chase Sapphire Preferred® Card charges an annual fee of $95, the value you can get from the card’s sign-up bonus and rewards rate more than makes up for the cost.
In this review, we’ll break down the pros and cons of the Chase Sapphire Preferred® Card, as well as show how it compares to the Capital One Venture Rewards Credit Card.
Chase Sapphire Preferred® Card overview
- Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
- Earn up to $50 in statement credits each account anniversary year for hotel stays through Chase Travel℠
- 10% anniversary points boost - each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
- Member FDIC
- Recommended Credit
Credit scores ranges may vary. Your individual chance at approval may vary due to factors such as creditors using a particular variation at their discretion
- $0 foreign transaction fees
- $50 annual Ultimate Rewards hotel credit
- Trip cancellation/interruption insurance
- Auto rental collision damage waiver
- Baggage delay insurance
- Trip delay reimbursement
- Travel and emergency assistance services
- Purchase protection
- Extended warranty protection
Intro Purchase APR
N/A
Regular Purchase APR
19.99% - 28.24% Variable
Intro BT APR
N/A
Regular BT APR
19.99% - 28.24% Variable
Annual Fee
$95
Cash Advance Fee
Either $10 or 5% of the amount of each transaction, whichever is greater.
Foreign Transaction Fee
$0
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Pros and cons
Pros
- Sign-up bonus
- Rewards rate
- 25% boost in rewards value
- Travel transfer partners
- $0 foreign transaction fee
- Annual hotel credit
Cons
- Annual fee
- No intro APR on purchases or balance transfers
What we like about the Chase Sapphire Preferred® Card
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Sign-up bonus
Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
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Rewards rate
Cardholders will enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases Additionally, earn 5X points on Lyft rides through March 2025.
Plus, Chase offers a 10% anniversary points boost. For example, if you spend $25,000 in purchases, that’s a bonus of 2,500 points.
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25% boost in rewards value
When you redeem your points for travel through Chase TravelSM, you’ll get 25% more value from your rewards. So instead of being worth 1 cent each, points will be worth 1.25 cents each.
Additionally, for a limited time, Ultimate Rewards points will be worth 25% more when redeemed for statement credits against purchases with Airbnb and Away.
To receive your statement credit, select an eligible purchase made within the past 90 days and apply your points to all or part of the purchase.
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Travel transfer partners
You can transfer points at a rate of 1:1 to 11 airline partners and three hotel partners. Travel transfer partners include Aer Lingus AerClub, Air Canada Aeroplan, British Airways Executive Club, Emirates Skywards, Flying Blue AIR FRANCE KLM, Iberia Plus, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, IHG Rewards Club, Marriott Bonvoy and World of Hyatt.
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Hotel credit of up to $50 per year
You can earn up to $50 in statement credits each account anniversary year when you book hotel stays through Chase TravelSM.
What to watch out for with the Chase Sapphire Preferred® Card
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Annual fee
The Chase Sapphire Preferred® Card comes with a $95 annual fee. However, the value of the sign-up bonus more than covers that cost during the first year of card membership.
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No intro APR
If you’re planning to finance a large purchase and pay it off over time or transfer a balance from a high-interest credit card, the Chase Sapphire Preferred® Card may not be ideal, since it does not offer a 0% introductory APR on purchase or balance transfers.
Alternate travel rewards card
Compare it to the Capital One Venture Rewards Credit Card
If you want to earn an elevated rewards rate on general purchases, you may want to consider the Capital One Venture Rewards Credit Card ($95 annual fee). The card offers 2 Miles per dollar on every purchase, every day; 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel.
The Capital One Venture Rewards Credit Card comes with several benefits, including a credit of up to $100 to cover your Global Entry or TSA Precheck application fee, trip cancellation/interruption insurance and car rental insurance.
Compare the Chase Sapphire Preferred® Card to similar cards
| Credit Cards | Our Ratings | Welcome Offer | Rewards Rate | Annual Fee | |
|---|---|---|---|---|---|
Chase Sapphire Preferred® Card
 Apply Now
on Chase's secure site Rates & Fees |
Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. | Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases | $95 |
Apply Now
on Chase's secure site Rates & Fees |
|
Capital One Venture Rewards Credit Card
|
75,000 Miles once you spend $4,000 on purchases within 3 months from account opening | 2 Miles per dollar on every purchase, every day; 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel | $95 | ||
Chase Sapphire Reserve®*
|
Earn 100,000 bonus points + $500 Chase Travel℠ promo credit after you spend $5,000 on purchases in the first 3 months from account opening. | Earn 8x points on all purchases through Chase Travel℠, including The Edit℠ and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases | $795 | ||
Bank of America® Premium Rewards® credit card
Apply Now
on Bank Of America's secure site |
60,000 online bonus points - a $600 value - after you make at least $4,000 in purchases in the first 90 days of account opening. | 2 points for every $1 spent on travel and dining purchases. 1.5 points for every $1 spent on all other purchases. | $95 |
Apply Now
on Bank Of America's secure site |
Is the Chase Sapphire Preferred® Card right card for you?
If you travel regularly, the Chase Sapphire Preferred® Card is a great option. It comes with a valuable sign-up bonus, as well as an elevated rewards rate on travel, dining at restaurants, select streaming services and online grocery purchases. But if you want a travel rewards card that offers a solid rewards rate on every purchase you make, the Capital One Venture Rewards Credit Card is more ideal.
Or, if you’d prefer a travel rewards card with a higher rewards rate and more premium benefits, the Chase Sapphire Reserve® is a step above the Chase Sapphire Preferred® Card.
The card lets you earn 8x points on all purchases through Chase Travel℠, including The Edit℠ and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases, 3X points on other travel and dining, and 1X points on all other purchases. Cardholders also enjoy 10x points on Lyft rides through March 2025, in addition to 15% off Lyft car rides and a year of complimentary Lyft Pink membership.
Additionally, the Chase Sapphire Reserve® offers several valuable benefits, including a $300 annual travel credit and 50% more rewards value when you redeem points for travel through Chase TravelSM.
The downside? The card comes with an annual fee of $795.
Apply Now
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
The information related to the Chase Sapphire Reserve® has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
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