Chase Sapphire Preferred Card review: A top travel and dining card

1 month ago 19

Chase Sapphire Preferred Card overview

The Chase Sapphire Preferred® Card is one of the best-known travel rewards credit cards, earning 5 points per dollar spent on travel booked through Chase Travel℠ and Lyft purchases, 3 points per dollar spent on dining, select streaming services and online grocery store purchases (excluding Target®, Walmart® and wholesale clubs), 2 points per dollar spent on all other travel purchases and 1 point per dollar spent on everything else. These valuable points can be transferred to airline and hotel partners or redeemed directly for travel at a rate of 1.25 cents per point through Chase Travel. Card rating*: ⭐⭐⭐⭐½

*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.

At TPG, we always get asked an important question from beginner travelers looking to plan trips: 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 valuable perks for a low annual fee. In fact, many of us started our journey into points and miles with this card.

The Chase Sapphire Preferred is designed for frequent and casual travelers. With a $95 annual fee, it's not an expensive card, which makes it an especially good choice for beginners.

TPG recommends applicants have a credit score of at least 700 to qualify for the Sapphire Preferred, but it's not unheard of for someone to be approved with a lower score.

Here's what you need to know about the Chase Sapphire Preferred and why it's one of the best cards out there.

Chase Sapphire Preferred pros and cons

ProsCons

Earn multiple points per dollar on things like travel and dining Valuable welcome bonus Premium travel protection benefits, including trip cancellation insurance, primary car rental insurance and lost luggage insurance	$95 annual fee

Chase Sapphire Preferred welcome offer

The Chase Sapphire Preferred features a welcome offer of 60,000 Chase Ultimate Rewards points after spending $4,000 on purchases in the first three months from account opening. New cardholders will also receive a $300 Chase Travel credit for the first year.*

The typical offer for this card is usually 60,000 Ultimate Rewards points, so whenever there's an opportunity to earn more bonus miles or a statement credit like the current offer, we highly recommend taking advantage of it.

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This haul of points is worth a minimum of $750 when redeemed for travel through the Chase portal, but you can maximize value by utilizing Chase's transfer partners. According to TPG's October 2024 valuations, Chase Ultimate Rewards points are worth 2.05 cents each, making this bonus worth $1,530 when you factor in the $300 Chase Travel credit.

*A statement credit will automatically be applied to your account when your card is used for purchases made through Chase Travel, up to a maximum accumulation of $300 within the first year of account opening. Statement credit(s) will appear on your monthly credit card billing statement within 6 to 8 weeks after your purchase posts to your account. For more information about Chase rewards categories see, chase.com/RewardsCategoryFAQs.

Chase Sapphire Preferred benefits

In addition to the welcome bonus, there are many appealing perks to being a Sapphire Preferred cardholder.

You'll receive a statement credit of up to $50 on hotel stays purchased through Chase Travel upon opening the card and on each account anniversary. It's automatically applied to your account each year when you make an eligible charge. Note, however, that the $50 credit does not earn Chase Ultimate Rewards points.

I always use this hotel credit when I am overseas in a small city with no chain hotels where I won't earn any elite nights or loyalty points since booking through an OTA like Chase Travel typically doesn't qualify you for elite status benefits at hotels.

Cardholders also enjoy a 10% anniversary points bonus each year. This 10% bonus is based on your total spending during the account anniversary year at a rate of 1 point for each $10 spent. If, for example, you spend $100,000 on your Sapphire Preferred during your cardmember year, you'll receive 10,000 bonus points at the end of the year.

However, this 10% bonus is calculated from the dollars you spent rather than the points you earned, meaning you won't receive additional points by leveraging the card's bonus categories.

The Chase Sapphire Preferred also includes at least one year of complimentary DoorDash DashPass membership, which includes perks like free delivery and reduced service fees on eligible purchases (activate by Dec. 31, 2027). There is a cost associated with using food delivery services such as DoorDash, but this can be a valuable benefit if you already use the service.

Finally, the Sapphire Preferred is an ideal choice for travel bookings such as car rentals, cruises, plane tickets and hotels because it comes with comprehensive travel and purchase protections. Among them, cardholders can expect the following:

You can read more about the Chase Sapphire Preferred shopping and travel benefits here.

Earning points with the Chase Sapphire Preferred

The Chase Sapphire Preferred has a simple earning structure that is easy to maximize:

Earn 5 points per 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 accessory 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 store purchases (excludes Target, Walmart and wholesale clubs)
Earn 2 points per dollar spent on all travel not booked through the Chase Travel portal
Earn 1 point per dollar spent on everything else

Those are some of the best earnings rates in the game, particularly when you consider you're earning valuable Chase Ultimate Rewards points.

Redeeming points with the Chase Sapphire Preferred

When you're ready to redeem the points you've earned with the Chase Sapphire Preferred, you'll understand why the card shines.

You can use your points to purchase airfare, reserve hotel rooms and even rent a car through Chase Travel — all at a fixed rate of 1.25 cents per point.

That means you don't need to worry about blackout dates or finding award space; you'll always have the option to book travel using your points. As long as a seat for sale on the flight you want or a hotel room is available to reserve with cash, you can pay for it with your points.

Just note that hotel reservations booked through third-party sites (including Chase Travel) typically won't earn points or count toward elite status qualification.

You also have the option to redeem your points for cash-back or gift cards at a rate of 1 cent per point or for a slightly higher value when you take advantage of Chase's Pay Yourself Back option. Still, these redemption options are less valuable than transferring your points to Chase's travel partners, so we recommend avoiding them whenever possible.

Transferring points with the Chase Sapphire Preferred

By transferring your Chase points, you can receive more than 1.25 cents per point in value by moving rewards to Chase's 14 airline and hotel partners. Some of the best Chase transfer partners include Hyatt, United, British Airways and Singapore Airlines for luxury hotels and comfy plane seats.

Utilizing these transfer partners can net you phenomenal value. Chase frequently runs transfer bonus promotions where you can get up to 30% more points or miles when you transfer Ultimate Rewards to a transfer partner.

For example, TPG credit cards writer Chris Nelson regularly transfers points to Hyatt and has gotten rooms during peak season in Europe for as low as 4,000 points a night. Hyatt has plenty of great sweet spot redemptions, making it an especially valuable transfer partner.

One TPG reader leveraged Ultimate Rewards points earned with the 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 via X

Note: Reader-submitted responses have not been edited, reviewed or approved by the issuers nor reflect TPG's opinions of these cards.

Utilizing transfer partners for aspirational travel is a solid way to maximize your Ultimate Rewards points and get value for your spending with the Sapphire Preferred.

Which cards compete with the Chase Sapphire Preferred?

Many worthwhile mid-tier travel credit cards exist, but only a few can go toe-to-toe with the Sapphire Preferred. If you're trying to decide which is best for you, consider which card's earning power suits your spending habits and which transfer partners you're more likely to maximize.

If you prefer Capital One: The Capital One Venture Rewards Credit Card is your best bet. The card offers 5 miles per dollar spent on hotels, vacation rentals and rental cars booked through Capital One Travel and 2 miles per dollar spent on all purchases. The Venture also offers a welcome bonus of 75,000 bonus miles when you spend $4,000 on purchases within the first three months from account opening. For more information, read our full review of the Capital One Venture Rewards Credit Card.
If you prefer American Express: The American Express® Green Card offers a high earning rate on travel, restaurants and transit. Annual Clear Plus and LoungeBuddy credits offset its $150 annual fee. Plus, Amex has more transfer partners than Chase and offers more transfer bonuses throughout the year.
If you want more perks: The Chase Sapphire Reserve® offers higher earning rates on travel purchases and more valuable benefits like a $300 annual travel credit and airport lounge access. For more information, read our full review of the Sapphire Reserve.

For additional options, check out our full list of the best starter credit cards.

The information for the American Express Green Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Bottom line

If you're ready to move beyond cash-back or fixed-value travel rewards credit cards, there is no better place to start than with the Chase Sapphire Preferred.

After its debut over a decade ago, it's still regarded as one of the best rewards credit cards. It earns some of the most valuable points and is flexible enough to meet the reward needs of frequent and newbie travelers alike. As long you're using the card frequently enough to get more than $95 in value from it, this card is definitely worth the annual cost.

Apply here: Chase Sapphire Preferred

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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