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As Business Insider's correspondent covering all things credit cards, I'm often a resource for friends and family members looking to get a new card.
Many people focus on credit card rewards above all else, but I primarily recommend the Chase Sapphire Preferred® Card for its fantastic benefits, including travel reimbursements for flight cancellations and lost bags, primary rental car insurance coverage, a $50 annual hotel credit, and bonus points on dining and travel.
Business Insider's personal finance experts agree: The Chase Sapphire Preferred® Card is an industry leader across several of our credit card guides, topping our lists of the best credit cards, the best rewards credit cards, and the best travel rewards credit cards.
Chase Sapphire Preferred® Card Overview
As mentioned before, the Sapphire Preferred Card earns bonus points on various travel and dining purchases and offers some of the best travel and purchase protection available, including primary car rental protection as well as trip cancellation and interruption insurance.
This card comes with a generous welcome bonus for new cardholders that offsets a reasonable $95 annual fee.
The Sapphire Preferred Card also includes a $50 annual credit for hotels booked through the Chase Travel℠ Portal, a 10% anniversary points bonus, and up to 5 points per dollar in popular spending categories.
$95
N/A
21.49% - 28.49% Variable
Earn 60,000 bonus points plus get up to $300 in statement credits on Chase Travel purchases
Good to Excellent
- High intro bonus offer starts you off with lots of points
- Strong travel coverage
- Doesn't offer a Global Entry/TSA PreCheck application fee credit
If you're new to travel rewards credit cards or just don't want to pay hundreds in annual fees, the Chase Sapphire Preferred® Card is a smart choice. It earns bonus points on a wide variety of travel and dining purchases and offers strong travel and purchase coverage, including primary car rental insurance.
Sapphire Preferred Card- Get up to $1,050 in Chase Travel℠ value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That’s worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year.
- 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, $50 Annual Chase Travel Hotel Credit, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
- Member FDIC
Chase Sapphire Preferred® Card Rewards
Welcome Bonus
The current Sapphire Preferred Card sign-up bonus goes a long way: 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening and get up to $300 in statement credits on Chase Travel purchases within your first year. This welcome offer is worth $1,080 in travel, based on Business Insider's points and miles valuations.
How to Earn Points With the Sapphire Preferred Card
Sapphire Preferred Card holders earn points at the following rates per dollar spent:
- 5x on all travel purchased through Chase Travel℠
- 3x on dining including eligible delivery services, takeout, and dining out
- 3x on select streaming services
- 3x on online grocery purchases excluding Target, Walmart, and wholesale clubs
- 2x on eligible travel booked outside of Chase Travel
- 1x on all other expenses
How to Keep Your Chase Ultimate Rewards Points
If you close your credit card, you'll lose all the points in your account. So, if you cancel this credit card, be sure to redeem your rewards, combine them with rewards on another partner credit card in the Chase family, or transfer them to a Chase Ultimate Rewards points partner.
How to Redeem Points From the Sapphire Preferred Card
Chase Ultimate Rewards® points are worth 1 cent apiece when redeemed through Chase Travel. But Chase Sapphire Preferred® Cardholders get a 25% redemption value bonus, so your rewards are worth 1.25 cents apiece when you book travel through Chase.
Redeem Chase Points for Travel
You can redeem Ultimate Rewards points for flights, hotels, rental cars, and more through the Chase Travel Portal at the 1.25-cent rate with no limits or blackout dates. The redemption system searches many airline and hotel brands, with a similar feel and layout to major discount travel websites.
To get the most value per point, you can transfer your rewards to 14 different airline and hotel partners at a 1:1 ratio. That means 1 Chase point equals 1 point or mile in these programs:
Chase Transfer Partners
- Aer Lingus AerClub
- Air Canada Aeroplan
- Air France-KLM Flying Blue
- British Airways Executive Club
- Emirates Skywards
- Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards
- United MileagePlus
- Virgin Atlantic Flying Club
- IHG Rewards Club
- Marriott Bonvoy
- World of Hyatt
Redeem Chase Points for Other Perks
There are plenty of non-travel options for redeeming your Chase points, but they don't provide as much value:
- Cash back: Cash in your points at a rate of 1 cent apiece toward a statement credit or direct deposit to your bank account
- Chase Pay Yourself Back: Use points toward eligible purchases at a rate of up to 1.25 cents apiece
- Gift cards: Your points are worth 1 cent each toward gift cards from popular merchants such as Nike and Lululemon
- Apple, PayPal, and Amazon purchases: Use points directly for Apple (1 cent each), PayPal (0.8 cents each), or Amazon (0.8 cents each) purchases.
Paypal and Amazon redemptions aren't a good value. If you want to use your rewards for these merchants, you'll get a better deal by paying with the Chase Sapphire Preferred® Card, then redeeming your points toward a statement credit at 1 cent apiece.
Chase Sapphire Preferred® Card Benefits and Features
The Chase Sapphire Preferred® Card's benefits come in handy when traveling and shopping at home, online, or anywhere your travels take you.
$50 Annual Hotel Credit
The Sapphire Preferred Card offers up to $50 in annual statement credits toward hotel purchases made through the Chase Travel Portal. New cardholders can start earning the credit immediately, while existing cardholders will be eligible after their next account anniversary.
Maximizing this credit is an easy way to shave up to $50 off the card's $95 annual fee, making your net out-of-pocket cost for keeping this credit card just $45 every year.
10% Anniversary Point Bonus
Each year on your account anniversary, you'll receive a points bonus equal to 10% of all purchases made in the previous year.
For example, if you spent $25,000 on the card in an anniversary year, you'd receive a bonus of 2,500 points.
Primary Car Rental Insurance
The Sapphire Preferred Card includes primary car rental insurance for damage due to theft or collision. Primary coverage means your credit card benefits kick in before your personal auto insurance policy. You don't need to file a claim with your own insurer, which can cost you a lot more in premiums down the road.
This benefit also means you can skip purchasing insurance through the car rental agency in most countries when you rent a vehicle and pay with the Sapphire Preferred Card. Most cars and countries are included, but some countries and some car models are excluded from this benefit. So make sure you read the fine print before you waive insurance coverage from the rental car company.
Note: This coverage doesn't include liability insurance, which covers claims that result from injuries and damage you or your vehicle may cause to other people or property.
Trip Interruption/Cancellation Insurance
If a trip you booked using the Sapphire Preferred Card is cut short or canceled for an eligible reason like illness or severe weather, the travel insurance benefit on this card may reimburse you up to $10,000 per person and $20,000 per trip for pre-paid, non-refundable travel expenses.
Trip Delay Insurance
When you use your Sapphire Preferred Card to pay for airfare, the trip delay insurance benefit can reimburse you for up to $500 per ticket for hotel rooms, food, toiletries, clothes, or other reasonable expenses when your flight is delayed overnight, or by 12 hours or more.
Baggage Delay Insurance
If you've paid for your travel with the Sapphire Preferred Card and your bags are delayed for six hours or more, you could be reimbursed for essential purchases such as clothing and toiletries, up to $100 per day for up to five days.
Lost Luggage Reimbursement
If the carrier damages or loses your bags, you and your immediate family members could be covered for up to $3,000 per passenger as long as you've paid for your tickets with the Sapphire Preferred Card.
Extended Warranty
When you purchase certain goods with the Sapphire Preferred Card, the card's warranty benefit extends a U.S. manufacturer's warranty by one additional year on warranties of three years or less.
Purchase Protection
If an eligible item you've bought with the Sapphire Preferred Card is damaged or stolen within 120 days of purchase, you may be able to claim up to $500 in reimbursement per purchase, and up to $50,000 per credit card account.
Travel and Emergency Assistance Services
If you're traveling away from home and need help, cardholder emergency assistance can help you find medical and legal referrals. This service is free for Sapphire Preferred Card cardholders, but any third-party costs are your responsibility.
Travel Accident Insurance
When you pay for your air, bus, cruise, or train transportation with the Sapphire Preferred Card, you're eligible for accidental death or dismemberment coverage of up to $500,000.
Roadside Dispatch
Sapphire Preferred Card cardholders can contact the roadside dispatch hotline for help with arranging services like towing and flat tire repair for a set fee.
DoorDash DashPass
Sapphire Preferred Card get a complimentary DashPass membership (for waived delivery fees on qualifying orders) through December 31, 2027. You have to enroll through Chase to receive this perk.
Chase Sapphire Preferred® Card Fees
Annual Fee
The Chase Sapphire Preferred® Card has a $95 annual fee. Many people prefer no-annual-fee credit cards, but I find that the peace of mind I get from trip cancellation insurance and primary rental car coverage is worth far more than $95 a year.
Interest Rate (APR)
The Chase Sapphire Preferred® Card has a 21.49% - 28.49% Variable APR.
No Foreign Transaction Fees
The Chase Sapphire Preferred® Card does not charge any foreign transaction fees when you shop outside the U.S. Foreign transaction fees typically cost an additional 3% to 5% on top of your purchase, and I've saved hundreds of dollars over the years by only using credit cards that don't charge these fees.
Fees for Late Payment, Balance Transfers, Cash Advances, and Returned Payments
As with most other credit cards, you'll have to pay fees for credit card balance transfers, cash advances, late payments, and returned payments.
Chase Sapphire Preferred® Card Comparison
The Sapphire Preferred Card isn't the only credit card geared to travelers that offers top-notch benefits and generous rewards. Depending on your spending and travel habits, one of these alternative credit cards could be a better fit for you.
Pro Tip for Business Owners: You may also want to consider Chase Sapphire Preferred vs. Ink Business Preferred to get a better understanding of which card will benefit your personal situation the best. You may also be able to pair the Sapphire Preferred Card with one of the best Chase business credit cards for additional value.
Chase Sapphire Reserve® vs. Chase Sapphire Preferred® Card
The Chase Sapphire Reserve®, one of the best premium travel credit cards available, is the top-tier "sibling" of the Sapphire Preferred Card.
The Chase Sapphire Reserve has a $550 annual fee compared to a $95 annual fee on the Sapphire Preferred Card.
The Chase Sapphire Reserve comes with up to a $300 annual travel credit and access to more than 1,500 airport lounges through its complimentary Priority Pass membership. Cardholders can also redeem Ultimate Rewards through the Chase portal at a value of 1.5 cents apiece, compared to the 1.25 cents apiece for Sapphire Preferred Card.
Chase Sapphire Reserve cardholders earn 10 points on Lyft rides through March 2025; 10 points on hotels and car rentals booked through Chase; 10 points on Chase Dining; 5 points on airfare through Chase travel; 3 points on other dining and travel; and earn 1 point per dollar on all other purchases.
Read more in our Chase Sapphire Reserve credit card review.
American Express® Gold Card vs. Chase Sapphire Preferred® Card
If you want a mid-tier travel credit card that earns American Express Membership rewards, the American Express® Gold Card is a good option for you to consider. Cardholders earn 4X Membership Rewards® points on purchases at restaurants worldwide (on up to $50,000 in purchases per calendar year, then 1X points), 4X Membership Rewards® points at US supermarkets (on up to $25,000 in purchases per calendar year, then 1X points), 3X Membership Rewards® points on flights booked directly with airlines or on AmexTravel.com, 2X Membership Rewards® points on prepaid hotels and other eligible purchases booked on AmexTravel.com, and 1X Membership Rewards® point on all other eligible purchases
New Amex Gold cardholders can earn 60,000 Membership Rewards® points after spending $6,000 on eligible purchases on your new card in the first six months of card membership plus 20% back in statement credits on eligible purchases made at restaurants worldwide within the first six months of card membership, up to $100 back (offer ends 11/6/24), and can benefit from extra perks at Amex Hotel Collection properties when booked through Amex; secondary car rental insurance; trip delay insurance; baggage insurance; extended warranty; purchase protection; and up to $10 in Uber Cash each month after adding the card as a method of payment in your Uber account.
American Express® Gold Card cardholders who enroll in the benefit can can also get a $10 monthly dining credit at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. This card has an annual fee of $325, which is significantly higher than that of the Sapphire Preferred Card.
Read more in our Amex Gold Card review.
Capital One Venture Rewards Credit Card vs. Chase Sapphire Preferred® Card
The Capital One Venture Rewards Credit Card is nearly identical to the Sapphire Preferred Card, but for people who prefer Capital One as a credit card issuer.
New cardholders can earn a welcome bonus of 75,000 miles once you spend $4,000 on purchases within the first three months of account opening. The card has an annual fee of $95, and earns a flat rate of 2 miles per dollar on most purchases. They will earn 5 miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel.
If you're still undecided, we have a full breakdown of Chase Sapphire Preferred versus Capital One Venture.
Read more in our Capital One Venture card review.
Sapphire Preferred Card Frequently Asked Questions
To be eligible to apply for the Sapphire Preferred Card, you have a credit score in the good to excellent range. However, Chase only allows you to have one Sapphire card at a time, so if you already have the card (or its sibling, the Chase Sapphire Reserve®), you won't be approved.
For consumers who travel and dine out on occasion, the $95 is worth the annual fee. The annual fee might seem intimidating if you've only had no-annual-fee cards in the past, but the card pays for itself pretty quickly with a $50 annual credit for hotels booked through Chase and generous rewards on dining, online groceries, and travel purchases.
The Sapphire Preferred Card earns Chase Ultimate Rewards points, which you can redeem for travel booked through Chase, statement credits, gift cards, and merchandise. The best way to use your rewards is usually by transferring them to Chase's airline and hotel partners, because you can often get outsized value from your points this way.
Yes, Chase has more than a dozen airline and hotel transfer partners including Marriott, United, and Southwest.
The Sapphire Preferred Card does not charge extra to add authorized users. Additional cardholders get their own card, but any points earned from their spending will belong to the primary cardholder. Keep in mind any transactions made by your authorized users are your responsibility, so only add folks you trust.
The minimum credit limit for the Sapphire Preferred Card is usually $5,000 because it's a Visa Signature card. Many people get approved for credit limits that are higher than that.
The difference between the Sapphire Preferred and Reserve is that the Sapphire Preferred Card is a mid-tier card with a $95 annual fee and generous rewards for spending. The Chase Sapphire Reserve® is a premium card meant for frequent travelers, and comes with upscale benefits and rewards in exchange for a $550 annual fee.
You can upgrade the Sapphire Preferred Card if you've had it for at least a year. Should you decide it's not a good fit, you can call Chase and ask to product change to a different personal Chase Ultimate Rewards earning card. For example, if you find yourself traveling more often and want perks like Priority Pass airport lounge access, you could ask for an upgrade to the Chase Sapphire Reserve®.
No, the Sapphire Preferred Card doesn't come with a TSA PreCheck® or Global Entry credit. However, its sibling, the Chase Sapphire Reserve, does offer this feature. You can find more options in our guide to the best credit cards with Global Entry and TSA PreCheck® credits.
Why You Should Trust Us: How We Reviewed the Chase Sapphire Preferred
We compared the Sapphire Preferred Card to similar travel rewards credit cards and assessed the card on various factors, including:
- Ease of use — Does the card make it easy to earn and redeem rewards? Are there multiple options for using points?
- Rewards earning potential — Are there broad bonus categories that are useful to a wide range of customers, and are any of them capped at a certain amount of spending?
- Annual fee — Is the annual fee worth paying based on the card's rewards and benefits?
- Benefits — How do the card's perks, especially travel benefits, stack up against similar cards?
Here's a full breakdown of how we rate credit cards at Business Insider.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Trip Delay Insurance, Trip Cancellation and Interruption Insurance, and Cell Phone Protection Underwritten by New Hampshire Insurance Company, an AIG Company. Global Assist Hotline Card Members are responsible for the costs charged by third-party service providers. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, Card Members may be responsible for the costs charged by third-party service providers. Extended Warranty, Purchase Protection, and Baggage Insurance Plan Underwritten by AMEX Assurance Company. Car Rental Loss & Damage Insurance Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
***Terms, conditions, and exclusions apply. Refer to your Guide to Benefits for more details. Travel Accident Insurance is not guaranteed, it depends on the level of benefits you get at application.
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.
