In this review of the Chase Sapphire Preferred® Card credit card, we focus on its merits for travel rewards and the many ways you can earn and redeem reward points based on your travel, dining, and general purchases. The card also comes with an excellent welcome offer that further enhances the value. It combines a reasonable annual fee, bonus points for travel, dining and other activities as well as travel protection features.
MoneyGeek’s Take
Chase Sapphire Preferred Card Review
Updated: September 11, 2024
Advertising & Editorial Disclosure
MoneyGeek partners with leading industry experts and advertisers to help you get to your financial happy place. Our content is accurate when posted but offers may change over time. We may receive compensation for partner advertisements, but our editorial team independently reviews and ranks products. Learn more about our editorial policies.
Chase Sapphire Preferred® Card
Rewards Summary
Earn 1X – 5X points5x 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.
APR
21.49% - 28.49% variableAnnual Fee
$95Recommended Credit
670-850 (Good to Excellent)Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
WHY TRUST OUR REVIEWS
MoneyGeek meticulously verifies and analyzes data while reviewing credit cards. We standardize data points for fair comparisons, estimate average spending profiles, determine long-term value and re-rank regularly. We collect information from the Consumer Finance Protection Bureau’s database.
Chase Sapphire Preferred® Card Overview
With Chase Sapphire Preferred® credit card , travel purchases have significant bonuses. You earn 5x rewards points on all travel purchases made through the Chase Travel℠ program. You earn 3x reward points for eligible dining, takeout and delivery services. On other travel purchases, you get 2x reward points. Meanwhile, all other purchases accrue one point per dollar. You can then redeem these points through Chase Travel℠ or transfer them to several hotel and airline partners.
The card also includes a very generous welcome offer of 60,000 points after spending $4,000 worth of purchases during the first three months of opening your card account. That's $750 when you redeem through Chase Travel℠. You can also earn 5x on travel purchased through Chase Travel℠, 3X points at restaurants, select streaming services and online grocery purchases (excluding Target, Walmart and wholesale clubs), 2x on all other travel purchases, 1x on all other purchases, and $50 Annual Chase Travel Hotel Credit, plus more.
>>MORE: CHASE TRAVEL℠ REWARDS: PROGRAM GUIDE
Quick Take
- You can earn 60,000 bonus points after spending $4,000 on purchases within the first three months from account opening. This amounts to $750 when redeemed through Chase Travel℠.
- Enjoy benefits such as earning 5x points on travel purchased through Chase Travel℠, 3x points on dining, select streaming services, and online groceries, 2x points on all other travel purchases, and 1x points on all other purchases. Additionally, receive a $50 annual Chase Travel Hotel Credit and more.
- Get 25% more value when you redeem points for airfare, hotels, car rentals, and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
- Count on valuable protections such as Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance, and more.
- Enjoy complimentary access to DashPass, which provides $0 delivery fees and reduced service fees for a minimum of one year when activated by December 31, 2027.
- The card's issuer is an FDIC member.
Important Card Details
Regular APR
This card has no introductory APR offer, so you will have to work with a variable APR of 21.49% - 28.49%, which is quite high compared to other credit cards.
Annual Fee
The card has an annual fee of $95, which is reasonable considering market trends. In fact, you can easily recoup the value of the annual fee with your rewards spending, especially if you are primarily using your card for travel-related expenses.
Other Fees
With this card, you have a balance transfer fee of $5 or 5% of the transfer amount, whichever is greater. You also have a cash advance fee of the greater of $10 or 5% of the transfer amount. There is no foreign purchase transaction fee.
Additional Benefits
Many other features and benefits come bundled with the Chase Sapphire Preferred® Card credit card, including:
- Primary rental car insurance: The card includes an auto rental collision damage waiver which means you would not need to file a claim with an insurer to receive coverage. This covers physical damage, theft, towing charges and valid loss of use.
- Travel features: Since this is a travel card, it comes with a plethora of travel-specific features. This includes baggage delay insurance, trip delay insurance and insurance for trip cancellation or interruption. You also have insurance for travel accidents, reimbursement for lost luggage, travel and emergency assistance and complimentary roadside dispatch.
- Purchase protection: New purchases you make using this card are protected with purchase protection against theft or damage for a period of 120 days, with certain exceptions like used items and antiques. The protection includes up to $500 per claim and up to $50,000 per account.
- DoorDash subscription: The card comes with a complimentary DashPass subscription service provided by DoorDash, valid for one year. This provides reduced fees for orders over $12 and unlimited deliveries with no delivery fee.
- Peloton credits: When you purchase an eligible Peloton membership, you get up to $60 back using your card. This gives you access to the popular Peloton digital home workout library.
- No foreign transaction fees: It is easy to use this card while traveling abroad since there are no foreign transaction fees involved.
Chase Sapphire Preferred Points Estimator
Estimate the value of the points you could earn with the Sapphire Preferred card. Use this calculator to see how your spending translates into points.
Important Disclaimers:
- This calculator is for planning and evaluation purposes and not sponsored or endorsed by Chase.
- Some of your purchases may not be eligible for earning points.
- The value of points at redemption will vary.'
1
How much do you spend on dining per MONTH? (3x points)
$
2
How much do you spend on streaming services per MONTH? (3x points)
$
3
How much do you spend on online groceries per MONTH? (3x points)
$
4
How much do you spend on travel per YEAR? (2x points)
$
5
How much other spending will you put on this card per MONTH? (1x points)
$
Points Earned From the Card:0
Estimated Points Value:0 cents
Value of Points:$0
How the Chase Sapphire Preferred® Card Compares To Other Cards
This card is a good choice both for casual and frequent travelers who are looking for a streamlined experience with a solid reward accumulation rate with a low annual fee. It stacks up well against the competition. However, it is a good idea to compare it against other cards to see if it is the right fit for you.
In-Depth Credit Card Comparisons:
- Chase Sapphire Preferred® Card vs Chase Sapphire Reserve® Card
- Chase Sapphire Preferred® Card vs American Express® Gold Card
- Chase Sapphire Preferred® Card vs Citi Premier® Card
- Chase Sapphire Preferred® Card vs Capital One Venture Rewards Credit Card
- Chase Sapphire Preferred® Card vs Chase Freedom Unlimited®
- Chase Sapphire Preferre ®Card vs Chase Freedom Flex℠
How the Chase Sapphire Preferred® Card Compares
Chase Sapphire Preferred® Card
- Annual Fee: $95
- APR : 21.49% - 28.49% variable
- Welcome Bonus Points: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.
- Best for: Casual and frequent travelers
Capital One Venture Rewards Credit Card
- Annual Fee: $95
- APR : 19.99% - 29.99% variable
- Welcome Bonus Points: Earn 75,000 bonus miles after spending $4,000 on purchases within the first three months. That's equal to $1,000 in travel.
- Best for: Casual and frequent travelers
Frequently Asked Questions
What is the average credit score needed to get approved for Chase Sapphire Preferred® Card?
You need a good-to-excellent credit rating to qualify.
Does Chase Sapphire Preferred® Card report to all three credit bureaus?
It will report to personal credit bureaus only if your account is delinquent.
Is the Chase Sapphire Preferred® Card application process lengthy? Can you prequalify?
You cannot prequalify for this card. However, the application process is simple and can be even faster if you have an existing account.
What information is needed to apply for Chase Sapphire Preferred® Card?
To apply, you need to furnish personal information like your name, date of birth, Social Security number and address. You also need to share financial information.
Does Chase Sapphire Preferred® Card have good customer service or satisfaction?
Chase scores high on customer satisfaction according to most sources and offers 24/7 help via phone.
Does Chase Sapphire Preferred® Card have a mobile app or the option to pay or manage your account online?
You can pay or manage your account online on their website and mobile app.
Does Chase Sapphire Preferred® Card raise credit limits automatically or charge for limit increases?
Your credit limit might increase automatically with good credit usage. Otherwise, you can also send in a request for a manual credit limit increase.
Does Chase Sapphire Preferred® Card offer the options to freeze your credit/account or have other security features?
The card has many security features including zero liability, fraud detection and easy freezing.
Does Chase offer other credit cards besides Chase Sapphire Preferred® Card?
The company offers many other credit cards, including the Chase Sapphire Reserve Card and the Ink Business Unlimited® Credit Card.
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.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.