Chase Sapphire Preferred Review
The gateway travel-rewards card. Big welcome bonus, $95 annual fee, and points that transfer to airlines and hotels.
Welcome bonus
75,000 bonus points after spending $5,000 on purchases in the first 3 months from account opening.
Rewards structure
- 5xtravel purchased through Chase Travel℠
- 3xdining, including eligible delivery and takeout
- 3xonline groceries (excluding Target, Walmart, and wholesale clubs)
- 3xselect streaming services
- 2xall other travel purchases
- 1xeverything else
Perks & benefits
- 25% more value when redeeming points for travel through Chase Travel℠
- 1:1 point transfer to 14 airline and hotel loyalty partners
- $50 annual hotel credit on stays booked through Chase Travel℠
- Primary rental car collision damage waiver
- Trip cancellation and interruption insurance up to $10,000 per person
- No foreign transaction fees
Who this card is for
- First-time travel-rewards card users
- Frequent diners and food-delivery spenders
- Anyone who wants transferable points without a $400+ annual fee
- Travelers who value trip protection and rental car coverage
Pros & cons
Pros
- One of the largest welcome bonuses in the mid-tier travel-card market
- Points transfer to Hyatt, United, Southwest, Air Canada, and 10 more partners at 1:1
- Modest $95 annual fee earns back easily with the $50 hotel credit and points velocity
- Full suite of travel protections rarely found on a $95 card
Cons
- No airport lounge access — that is a Sapphire Reserve benefit
- Bonus categories are useful but not aggressive vs premium peers
- 5/24 rule: Chase will decline you if you have opened five or more cards from any issuer in the past 24 months
Our take
The Chase Sapphire Preferred remains our default recommendation for anyone starting to take points and miles seriously. Nothing else at this annual-fee tier gives you access to the Chase Ultimate Rewards transfer partner network, which is where the real value lives — a Preferred point can become a Hyatt point at 1:1 and unlock $500+ hotel nights, or a United point for an award flight that would cost $1,200 in cash.
The $95 fee is easy to justify. The $50 hotel credit alone pays back more than half of it if you book any hotel through Chase Travel℠, and the 3x on dining and online groceries adds up faster than the flat 2x cards. The current 75,000-point welcome bonus is worth roughly $1,500 toward travel — more than 15 years of the annual fee paid off before you make your first swipe.
The real trade-off is against the Sapphire Reserve, not against other issuers. If you travel often enough to use Priority Pass lounges and value the $300 travel credit, the Reserve is better. If you do not, the Preferred is the smarter card. And if you have opened five or more cards in the past 24 months, Chase will decline you regardless — plan the application order accordingly.