The Chase Sapphire Preferred earns 3x on dining and 2x to 5x on travel for $95/year. With the $50 annual hotel credit and primary rental car insurance, the effective annual fee is closer to $45 — making this the strongest mid-tier travel card available.
The Chase Sapphire Preferred is the card that launched a thousand travel-hacking blogs. It has been the gold standard for mid-tier travel credit cards since its launch in 2009, offering premium travel rewards without a premium price tag.
For anyone spending $300+ per month on dining and travel who pays their balance in full, the Sapphire Preferred earns back its $95 fee within the first few months of dining rewards alone. Here is the full breakdown.
- The effective annual fee is closer to $45 than $95. The card includes a $50 annual hotel credit for hotel stays booked through Chase Travel. Use it once per year on any hotel booking through the portal and your net cost is $45. Combined with the sign-up bonus (worth $750+ in year one), the Sapphire Preferred is effectively free for the first 8+ years if you use the hotel credit consistently.
- Primary rental car insurance is the most undervalued perk. The Sapphire Preferred provides primary collision damage waiver (CDW) coverage on rental cars — meaning it pays before your personal auto insurance, with no deductible impact on your own policy. Rental counters typically charge $15 to $30/day for this coverage. Two one-week rentals per year at $20/day saves $280 — more than three times the $95 fee on its own.
- The 60,000-point sign-up bonus is worth $750 at minimum through Chase Travel (1.25 cents per point). Transferred to World of Hyatt, the same 60,000 points books 4 to 6 nights at a Category 1 to 4 Hyatt hotel worth $800 to $1,500+. Transferred to United Airlines MileagePlus, 60,000 miles covers roundtrip domestic economy or one-way international business on partner flights. Transfer to partners almost always produces more value than the Chase Travel portal rate.
- The Chase trifecta dramatically amplifies the Sapphire Preferred’s value. Pair it with the Chase Freedom Flex (5x on rotating quarterly categories like grocery stores, gas, and Amazon) and Chase Freedom Unlimited (1.5x on all non-bonus spending). Points earned on both Freedom cards transfer to your Sapphire Preferred account and inherit the Sapphire’s transfer partner access. Combined, the three cards cover virtually every spending category at 3x to 5x — all earning Chase Ultimate Rewards points.
- The 5/24 rule is the most important thing to know before applying. Chase typically declines applicants who have opened 5 or more new credit card accounts in the past 24 months, regardless of credit score. If you are planning to build a rewards card portfolio, always get the Sapphire Preferred first — before accumulating cards from other issuers — since Chase’s 5/24 rule is strictly enforced and the Sapphire is the anchor of the most valuable points ecosystem in the US.
Card details
| Feature | Details |
|---|---|
| Annual fee | $95 |
| Effective annual fee (after $50 hotel credit) | $45 |
| Sign-up bonus | 60,000+ Ultimate Rewards points after $4,000 spend in first 3 months |
| Bonus value (Chase Travel portal) | $750+ (1.25 cents per point) |
| Dining earn rate | 3x points |
| Chase Travel portal earn rate | 5x points |
| All other travel | 2x points |
| Streaming services | 3x points (select services) |
| Online grocery (excluding Walmart, Target, wholesale clubs) | 3x points |
| Everything else | 1x points |
| Annual hotel credit | $50 for hotel stays booked through Chase Travel |
| Point value (Chase Travel portal) | 1.25 cents per point |
| Point value (transfer partners) | 1.5 to 2.5+ cents per point (varies) |
| Foreign transaction fee | None |
| APR | 21.49 to 28.49% variable (never carry a balance) |
| Credit score recommended | Good to excellent (720+) |
Calculate your annual rewards value
Annual Rewards Calculator
Enter your monthly spending to see if the $95 annual fee pays for itself.
What your 60,000-point bonus is worth
Points Value Calculator
Select your redemption method to see bonus value.
Key perks in detail
Chase Ultimate Rewards transfer partners
The most valuable feature of the Sapphire Preferred. Points transfer 1:1 to 14 airline and hotel loyalty programs:
| Partner | Type | Best use |
|---|---|---|
| World of Hyatt | Hotel | Best value per point (2+ cents at Cat 1 to 4 properties) |
| United MileagePlus | Airline (Star Alliance) | Domestic flights, partner international awards |
| Singapore Airlines KrisFlyer | Airline (Star Alliance) | Premium cabin awards, partner flights |
| Air France/KLM Flying Blue | Airline (SkyTeam) | Promo awards, transatlantic routes |
| Southwest Rapid Rewards | Airline | Domestic travel, companion pass strategy |
| British Airways Avios | Airline (Oneworld) | Short-haul flights on American Airlines |
| Virgin Atlantic Flying Club | Airline | Delta One business class awards |
| JetBlue TrueBlue | Airline | Transatlantic premium (Mint), domestic |
| Emirates Skywards | Airline | Premium cabin international awards |
| Marriott Bonvoy | Hotel | Widespread availability, 5,000 properties |
| IHG One Rewards | Hotel | Holiday Inn, Intercontinental properties |
Best transfer value: World of Hyatt is consistently the highest-value transfer partner for points redemptions. A Category 1 Hyatt property costs 3,500 points per night (roughly $150 to $200 market value) — more than 4 cents per point in value. Transferring 60,000 CSP points to Hyatt can book 4 to 6 nights at a mid-range property worth $600 to $1,000+ in cash rates.
Travel protections
| Protection | Coverage | Trigger |
|---|---|---|
| Primary rental car insurance (CDW) | Full theft and collision coverage | Decline CDW at rental counter, pay with CSP |
| Trip cancellation/interruption | Up to $10,000/person, $20,000/trip | Trip cancelled due to illness, weather, or covered reason |
| Trip delay reimbursement | Up to $500/ticket | Delay of 12+ hours or overnight stay required |
| Baggage delay insurance | Up to $100/day for 5 days | Bags delayed 6+ hours |
| Lost luggage reimbursement | Up to $3,000/passenger | Luggage lost or damaged by carrier |
| Purchase protection | Up to $500/claim, $50,000/year | Item stolen or damaged within 120 days of purchase |
| Extended warranty | 1 additional year | US manufacturer warranties of 3 years or less |
Primary vs secondary rental car insurance explained: Most credit cards offer secondary CDW coverage, which only pays after your personal auto insurance. This means a car accident abroad could result in a claim on your personal policy, potentially raising your premiums. The CSP’s primary coverage pays first, with no involvement of your personal insurer — no deductible impact, no potential premium increase. This is the perk most cardholders underestimate until they actually rent a car.
$50 annual hotel credit
Book any hotel stay through Chase Travel (not directly with the hotel) and receive a $50 statement credit once per cardmember year. This directly reduces your effective annual fee from $95 to $45. Requirements: the stay must be a prepaid hotel stay booked through Chase Travel and charged to the Sapphire Preferred card. Even a $50 to $75/night budget hotel stay unlocks the full credit — you do not need to stay at a luxury property.
DoorDash benefits
Complimentary DashPass membership (free delivery on eligible orders, no minimum) plus a $5/month credit on DoorDash orders. Worth up to $60+/year in delivery fee savings for DoorDash users. DashPass membership alone would cost $9.99/month standalone, making this a $120+/year benefit for regular users.
Is the Sapphire Preferred right for you?
CSP Right for You? Quiz
Three questions for a specific recommendation.
Q1: How much do you spend on dining and travel combined each month?
Chase Sapphire Preferred vs. alternatives
| Card | Annual fee | Effective fee | Dining earn | Travel earn | Best for |
|---|---|---|---|---|---|
| Chase Sapphire Preferred | $95 | $45 (after $50 hotel credit) | 3x | 2x to 5x | Travel beginners, Hyatt fans |
| Chase Sapphire Reserve | $550 | $250 (after $300 travel credit) | 5x | 5x to 10x | Frequent travelers, lounge access |
| Capital One Venture X | $395 | $5 (after $300 travel credit + 10K anniversary pts) | 2x | 2x to 10x | Simple rewards, Capital One ecosystem |
| Amex Gold | $250 | $10 (after dining + Uber credits) | 4x (restaurants) | 3x (flights direct) | Heavy dining spenders |
| Wells Fargo Autograph | $0 | $0 | 3x | 3x | No-fee travel rewards starter |
| Citi Double Cash | $0 | $0 | 2x | 2x | Simple flat cash back |
Frequently Asked Questions
What is the Chase 5/24 rule and how does it affect applying?
Chase’s informal 5/24 rule means they typically decline applications from people who have opened 5 or more new credit card accounts in the past 24 months, across all banks — not just Chase cards. A Capital One Quicksilver you opened 18 months ago counts. A Citi Double Cash opened 20 months ago counts. If you are at or near 5/24, you will likely be declined for the Sapphire Preferred regardless of your credit score. The rule is not officially published but is very consistently applied. Strategy implication: always get Chase cards first in your card-building journey, before accumulating cards from American Express, Capital One, Citi, or other issuers. Chase cards are the most restrictive to get and the most valuable to hold.
Can I get the sign-up bonus if I previously had a Sapphire card?
Generally no, if you currently hold a Sapphire card or have received a Sapphire Preferred or Sapphire Reserve bonus in the past 48 months. Chase’s policy: you are ineligible for the Sapphire Preferred bonus if you currently hold a Sapphire Preferred or Reserve, or if you received a new cardmember bonus on either Sapphire product within the last 48 months. This 48-month clock starts from when the bonus posted, not when you opened the card. Strategy: if you downgraded a Sapphire Reserve to a Sapphire Preferred more than 48 months ago, you may be eligible for the bonus again. Call Chase to confirm your eligibility before applying — a denial triggers a hard inquiry on your credit report.
Is the Chase Sapphire Preferred worth it without the sign-up bonus?
Yes, for consistent dining and travel spenders. At $300/month in dining (3x) and $150/month in travel (2x), the card earns approximately $175 in points value annually at 1.25 cents per point through Chase Travel. The $50 hotel credit drops the effective fee to $45. Net annual value: $130+ before counting rental car insurance, trip protection, and DashPass. The bonus makes year 1 exceptional, but the card is defensible on ongoing value for anyone spending over $200/month on dining and travel who pays in full and uses the hotel credit.
What is the difference between the Sapphire Preferred and Sapphire Reserve?
The Sapphire Reserve costs $550/year with a $300 annual travel credit (reducing effective fee to $250), earning 5x on dining and travel (vs 3x and 2x) and includes Priority Pass airport lounge access, TSA PreCheck/Global Entry credit ($120 every 4 years), and a higher trip delay trigger (6 hours vs 12). The math on which is better: if you spend $1,500+ per month on dining and travel and value lounge access, the Reserve’s higher earnings and travel credits justify the $250 effective fee. Below $1,000/month combined, the Preferred’s $45 effective fee is almost always the better value. The two cards cannot be held simultaneously — Chase limits one Sapphire product per customer.
How do I use the $50 annual hotel credit?
Book a hotel stay through Chase Travel (travel.chase.com) and pay with your Sapphire Preferred. The $50 credit posts as a statement credit automatically within 1 to 2 billing cycles after the hotel stay. Requirements: must be a prepaid hotel booking made through Chase Travel, charged to the Sapphire Preferred card, and the cardholder must be the traveler. The credit applies once per cardmember year (not calendar year). It does not require a minimum stay cost — a $60/night budget hotel qualifies. The most common use: book any single hotel night through Chase Travel per year to capture the credit and reduce your effective annual fee to $45.
Do Chase Ultimate Rewards points expire?
Points do not expire as long as you have an active Chase account that earns Ultimate Rewards. If you close your last UR-earning Chase account, points expire within 30 days. This is particularly important when downgrading the Sapphire Preferred to a no-annual-fee card: downgrade to a Chase Freedom Unlimited or Freedom Flex (both earn UR points) before closing the Sapphire, not vice versa. If you close the Sapphire without a backup UR-earning card, your points disappear. Freedom cards earn UR points but cannot transfer to airline/hotel partners independently — you need the Sapphire account active to access transfer partners. This is the main reason to keep the Sapphire Preferred rather than fully closing it.
What counts as travel for the 2x earning rate?
Chase’s travel category for the 2x earning rate is broad: airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites (Expedia, Kayak, etc.), campgrounds, trains, buses, taxis, rideshare (Uber, Lyft), ferries, tolls, bridges, parking, and parking garages. Essentially anything travel-related qualifies at 2x. Purchases made through Chase Travel earn 5x instead of 2x. Note: travel incidentals at the airport (food, shops inside terminals) may not always code as travel and typically earn 1x. The 3x dining category often covers airport restaurants, however.
Is there a no-annual-fee version of the Chase Sapphire?
No — the Chase Sapphire does not have a no-annual-fee version in the traditional sense. The closest Chase alternatives with $0 annual fees that earn Ultimate Rewards: Chase Freedom Unlimited (1.5x on everything, 3x on dining and drugstores) and Chase Freedom Flex (5x on rotating quarterly categories, 3x on dining and drugstores). Both earn UR points but cannot transfer to airline and hotel partners independently — you need an active Sapphire account for transfer partner access. If the $95 fee is a concern, consider starting with the Freedom Unlimited at $0 and upgrading to the Sapphire Preferred after confirming you spend enough on dining and travel to justify the fee.
The bottom line
The Chase Sapphire Preferred is the best mid-tier travel card available in 2026. For $95/year (effectively $45 after the $50 hotel credit), you get 3x on dining, 2x to 5x on travel, access to 14 airline and hotel transfer partners, primary rental car insurance, and a sign-up bonus worth $750+ to $1,000+ depending on redemption method.
The card pays for itself within the first few months of dining and travel spending for most users, and continues paying well beyond year 1. Use the rewards calculator above to see your specific annual value, and the points calculator to understand what your 60,000-point bonus is actually worth.
One firm piece of advice: if you are building a travel card portfolio, get the Sapphire Preferred first. Chase’s 5/24 rule means accumulating other cards too quickly can lock you out of the most valuable transfer partner ecosystem in US credit cards.
Related reading:
- Wondering if the Sapphire Reserve is worth the upgrade? Read our travel credit card comparison — the Reserve vs Preferred math at different spending levels.
- Looking for a no-fee card to pair with the Sapphire? Read our best cash back cards guide — the Chase Freedom Unlimited and Freedom Flex are the best no-fee complements to the Sapphire Preferred.
- Carrying a balance right now? Read our credit card debt payoff guide — clear the balance first, then build the travel card strategy.
