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Chase Sapphire Preferred
Published by CreditMango · Mike Kwak · Editorial policy
Best Starter Travel Card
Lower than the 100,000 offer that ended 2026-07-30.
Still the best first travel card: cheap to hold, the bonus alone can fund a real trip, and Chase’s partner list gives your points an exit ramp beyond the portal. Just know the famous Hyatt trick got a haircut for new applicants — this card is now great, not magic.
Don't get the Chase Sapphire Preferred if…
We'd rather lose you here than have you hold the wrong card.
- ✗Check Chase eligibility and your recent account history before applying; approval and bonus eligibility are separate.
- ✗You can’t comfortably spend $5,000 in 3 months on things you’d buy anyway — the bonus is the whole first-year case.
- ✗You’d redeem points for cash back — a flat 2% no-fee card beats this card at that game.
Estimated benefits compared with the annual fee
Fee minus estimated benefits: −$35
- Annual fee
- $95
- Credits, honestly
- $130
What counts: Chase Travel hotel credit $70 (face $100) · DoorDash DashPass $60 (face $120). Face value totals $220; our estimated usable value is $130. The issuer still charges the full $95 annual fee. Benefits are conditional and are not cash income.
Estimated value after the annual fee
Computed at our 1.5¢-per-point valuation (updated 2026-09 — how we value points), with credits counted at our estimated usable value, not face value or guaranteed cash savings. Everyday spending is on top of this; the planner models yours.
| First year | Every year after | Two years | |
|---|---|---|---|
| Welcome bonus (75,000 pts × 1.5¢) | $1,125 | — | $1,125 |
| Credits, honestly valued | $130 | $130 | $260 |
| Annual fee | −$95 | −$95 | −$190 |
| Net, before everyday earning | $1,160 | $35 | $1,195 |
Welcome bonus: counted once · Benefits: counted when available; anniversary miles start in year two · Fee: first year and ongoing
Estimated ongoing benefits exceed the annual fee by $35 a year if you use them as assumed. This is an estimated benefit value, not a payment to you; the full annual fee still applies.
+ Pros
- ✓$95 annual fee; up to $100 hotel credit
- ✓Airline and hotel transfer options
- ✓75K bonus; redemption value varies
− Cons
- ✗No lounge access
- ✗5/24 rule limits who can apply
- ✗$5K spend requirement for bonus
Rewards Breakdown
| Category | Rate | Monthly Spend | Annual Value |
|---|---|---|---|
| Chase Travel (eligible points-earning spend) | 5X | $200/mo | $180 |
| Dining | 3X | $500/mo | $270 |
| Streaming Services | 3X | $50/mo | $27 |
| Online Groceries | 3X | $200/mo | $108 |
| Gas Stations & EV Charging | 3X | $200/mo | $108 |
| Other Travel | 2X | $150/mo | $54 |
| All Other | 1X | $500/mo | $90 |
| Total Estimated Annual Rewards | $837 | ||
Perks & Credits
Complimentary membership with activation by December 31, 2027. Count only the subscription cost you would otherwise pay.
Up to $100 for hotel purchases through Chase Travel each account anniversary year. Credited purchases do not earn points.
Select Chase Travel offers can provide up to 1.5 cents per point. Check the rate for your booking; a universal 1.25-cent rate does not apply.
1:1 transfer to United, Southwest, IHG, Marriott, British Airways and more; World of Hyatt moves to 4:3 (1:1 for older accounts only through Sep 30, 2026).
Covers theft and collision damage when you decline the rental company's CDW. Primary coverage means it pays first.
Reimburses pre-paid, non-refundable trip costs if you cancel for a covered reason.
The credits, honestly
Face value is the brochure number. Our value is what we'd actually pay for each perk if it were sold as a standalone subscription — the only fair way to weigh a coupon you might not use. Untick any credit you wouldn't use and the fee math updates.
| Counts | Credit | Face | Our value | Why |
|---|---|---|---|---|
| $100 | $70 recurring | Chase Travel hotel purchases only; credited purchases do not earn points. Our $70 estimate assumes you would otherwise use the portal. | ||
| $120 | $60 recurring | Conditional subscription value, not cash. Activation required by December 31, 2027; count $0 if you would not pay for it, and recheck eligibility before renewal. | ||
| Credits that count | — | $130 |
Your selected benefits have an estimated value of $130, exceeding the $95 annual fee by $35 a year. This is estimated benefit value, not cash income. The full annual fee still applies. Estimate with your own spending →
Where the points can go
Chase Ultimate Rewards transfers to these programs (ratios as of 2026-09). One warning before the table: transfers are a one-way door — once points leave, they can't come back.
| Program | Ratio | Best use |
|---|---|---|
| World of Hyatt | 4:3 (1,000 UR → 750 Hyatt); accounts opened before Jun 15, 2026 keep 1:1 only through Sep 30, 2026 | Still the hotel value king — the ratio haircut hurts, but Hyatt’s award chart survives |
| United MileagePlus | 1:1 | Star Alliance awards and domestic saver space |
| Southwest Rapid Rewards | 1:1 | Near-cash value on domestic fares; pairs with the Companion Pass |
| Air France/KLM Flying Blue | 1:1 | Monthly promo awards make transatlantic economy and business cheap |
| British Airways Avios | 1:1 | Short direct hops on partner airlines (AA, Alaska) |
| Marriott Bonvoy | 1:1 | Usually skip — point value is below our UR estimate |
A trip this card can actually buy
Two economy round-trips to Western Europe via Flying Blue promo awards
~50,000–70,000 points total vs. $900–$1,600 in cash fares
Planning numbers from our award-cost ranges — always check live award space before you transfer.
Plan this trip with the Chase Sapphire Preferred →Pairs well with
A 1.5X floor on everything; its points pool into the CSP for partner transfers
5X office categories if you run a side business — same pooling trick
- Problem with a purchase shown on your statement2,344
- Other features, terms, or problems1,437
- Advertising and marketing, including promotional offers590
Source: CFPB Consumer Complaint Database, checked 2026-10-12. These counts cover the issuer, not this specific card, and are not adjusted for customer count. Complaints are not necessarily evidence of wrongdoing.
The Sapphire Preferred is worth considering when you want transferable rewards and can justify its $95 annual fee. Start with the trip you want, the points you already have, and the benefits you would actually use. A large welcome offer alone does not make a card a good long-term fit.
The Annual Fee Math
The hotel credit is now up to $100 each account anniversary year for hotel purchases through Chase Travel. Credited purchases do not earn points. Our calculator values that credit at $70 and the conditional DashPass membership at $60; these are editorial assumptions, not cash payments. Switch off benefits you would not otherwise buy.
Those assumptions total $130 against a $95 fee: a $35 surplus before rewards, displayed as an approximately negative $30 effective fee under our rounding convention. That estimate is not a guarantee that the card pays for itself. Compare portal prices with booking directly and review membership eligibility again before renewal.
What the Welcome Offer Means
The public offer checked September 10 is 75,000 points after $5,000 in eligible purchases within three months. Our general Chase transfer valuation of 1.5 cents per point makes the bonus an estimated $1,125 before fees. It is not a guaranteed Hyatt or cash value. Offers and eligibility can differ by applicant and application channel; confirm the terms before applying. Only use spending you can afford and would make anyway.
Hyatt Transfers Need Different Math
The standard transfer ratio is 4:3: 1,000 Chase points become 750 Hyatt points. Accounts opened before June 15, 2026 retain 1:1 through September 30, 2026. Check the ratio shown in your own account.
For a hypothetical 15,000-point Hyatt night, the 4:3 ratio requires 20,000 Chase points. Check live availability and the cash alternative before moving points. A destination estimate is not a reservation.
Earning and Using the Card
Eligible gas and EV charging purchases now earn 3X. Online groceries also earn 3X, subject to exclusions; in-store groceries generally earn 1X. Our planner uses 1X for its broad grocery category because it does not ask how much is online. It similarly keeps general travel at 2X rather than assuming all travel qualifies for a higher rate.
Chase Travel redemption rates depend on the booking. Selected Points Boost offers can reach 1.5 cents per point; do not assume every booking receives the old 1.25-cent rate.
How This Card Fits Your Wallet
Compare its earning rates with cards you already hold. The planner includes existing cards so you can assess whether another application improves your trip plan. If airport lounges are your priority, compare a card that includes access and price its useful benefits against the current annual fee.
Check your recent account history and Chase's current application and bonus eligibility terms. Being below a commonly reported application threshold does not guarantee approval. If you later want to change products, ask Chase which options are available and how your points will be treated.
Sources and Assumptions
Offer and benefit facts were checked against Chase's product terms, Sapphire Preferred benefits, and the June 2026 update. Dollar estimates use CreditMango's valuation methodology. Update your spending and credit selections in the calculator to see your own estimate.
Who This Card Is For
- →Travelers who can use Chase transfer partners and justify the $95 annual fee.
- →Regular diners: $500/month at 3X earns 18,000 points/year, worth an estimated $270 at our 1.5-cent valuation before fees.
- →Travelers who compare Hyatt awards using the applicable 4:3 transfer ratio instead of assuming 1:1.
Who Should Skip This Card
- →Applicants near or over Chase’s commonly reported 5/24 threshold should check eligibility before applying.
- →Travelers who need airport lounge access should compare cards that include it.
- →People whose spending is mostly in-store groceries: those purchases generally earn 1X.
How It Compares
| Card | Annual Fee | Best Rate |
|---|---|---|
| Chase Sapphire Preferred (this card) | $95 | 5X |
| American Express Gold CardBest for Dining & Groceries | $325 | 4X |
| Capital One Venture XBest Premium Travel Card (Simplicity) | $395 | 2X |
| Chase Freedom UnlimitedBest No-Fee Card with Category Bonuses | $0 | 1.5% |
Offer history
What this card's bonus has looked like over time — useful before you decide whether to wait.
| When | Bonus | Spend requirement |
|---|---|---|
| 2026-09 | 75,000 pts | $5,000 / 3 mo |
| 2026-07 | 100,000 pts (limited-time, ended 2026-07-30) | $5,000 / 3 mo |
| 2026-03 | 75,000 pts | $5,000 / 3 mo |
The fine print
The numbers card marketing keeps in the footnotes.
| Regular APR | 19.24% - 27.49% |
| Penalty APR | Up to 29.99% |
| Balance transfer fee | $5 or 5% |
| Cash advance fee | $10 or 5% |
| Foreign transaction fee | None |
Frequently Asked Questions
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Last updated: 2026-09-10