Chase Sapphire Preferred Review 2024 (2024)

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The Chase Sapphire Preferred® Card is Business Insider's top choice out of the best credit cards for earning and redeeming rewards toward flights, hotel stays, cruises, rental cars, and other travel adventures.

If you're new to rewards credit cards or don't want to pay hundreds in annual fees, the Chase Sapphire Preferred® Card is a smart choice. It earns bonus points on various travel and dining purchases and offers some of the best travel and purchase protection available, including primary car rental insurance.

Chase Sapphire Preferred® Card

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Insider’s Rating

Business Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.



Earn 5x on travel purchased through Chase Travel℠. Earn 3x on dining, select streaming services and online groceries. Earn 2x on all other travel purchases. Earn 1x on all other purchases.

Annual Fee


Intro APR


Regular APR

21.49% - 28.49% Variable

Intro Offer

60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening

Earn 60,000 bonus points

Recommended Credit

Recommended credit score. Note that credit card lenders may use many different variations of credit score models when considering your application.

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

Insider’s Take

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.

Product Details

  • 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℠.
  • 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, 2024.
  • Member FDIC

Chase Sapphire Preferred® Card Overview

The Sapphire Preferred Card is one of the best rewards credit cards with an annual fee under $100, with a generous welcome bonus offer of 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.

Beyond its rewards, the Sapphire Preferred Card comes with some of the best travel coverage available, including trip cancellation and interruption insurance and primary car rental insurance.

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.

Chase Sapphire Preferred® Card Rewards

Welcome Bonus

TheChase Sapphire Preferred® Card bonus is 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. This welcome offer is worth $1,080 in travel, based on Business Insider's points and miles valuations.

As long as your Sapphire Preferred Card is open and in good standing, your Chase Ultimate Rewards® points will not expire. However, if you close your card, you'll lose all the points in your account — so be sure to redeem them or transfer them to an airline or hotel partner before you cancel.

How to Earn Points With the Chase Sapphire Preferred® Card

Sapphire Preferred Card members earn points at the following rates per dollar:

  • 5 points on all travel purchased through Chase Travel℠
  • 3 points on dining, including eligible delivery services, takeout, and dining out
  • 3 points on select streaming services
  • 3 points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
  • 2 points on all other eligible travel purchases

All other purchases earn one point per dollar.

How to Use Chase Ultimate Rewards Points

Chase Ultimate Rewards® points are worth 1 cent each by default when redeemed through the Chase Travel Portal. With the Chase Sapphire Preferred® Card, you get 25% more value, or 1.25 cents per point.

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.

However, if you want to get even more value per point, you can transfer to Chase's airline and hotel transfer partners at a 1:1 ratio. That means 1 Chase point equals 1 point or mile in these programs:

You generally get the best value per point by transferring to airlines and booking premium travel, like a first-class flight or a hotel stay that would cost hundreds of dollars. Also, keep in mind that many transfer partner airlines are members of alliances that give you additional partner airline choices.

When you get a good deal, you can book a domestic round-trip flight for 25,000 points. With British Airways, for instance, you can book short-haul flights on partner American Airlines for even fewer points. Southwest also offers many great deals with no checked baggage fees for your first two bags.

If you earn the welcome bonus offer on the Sapphire Preferred Card, you'll have more than enough points for a round-trip award flight to Europe — and depending on the partner you redeem with, you could have points left over to jumpstart your next trip.

Redeem Chase Points for Other Purchases

There are plenty of non-travel options for redeeming your Chase points, but you won't necessarily get as much value as you would by transferring to partners:

  • Cash back:Cash in your points at a rate of 1 cent each toward astatement creditor 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
  • 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; the latter two options aren't a good value — you're better off paying for your purchase with the card, then redeeming points at 1 cent apiece toward a statement credit

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.

When you're traveling outside the U.S., the Chase Sapphire Preferred® Card does not charge any foreign transaction fees. Foreign transaction fees are typically 3% to 5% of your purchase, so they can quickly add up if you don't take the right card on your trips abroad.

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 each year just $45.

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 card includes primary car rental insurance for damage due to theft or collision, which means it kicks in before your own car insurance and allows you to confidently pass up the extra charge of a car rental agency's own insurance whenever you rent a vehicle and pay with the Sapphire Preferred Card (note that it doesn't include liability insurance).

Most cars and countries are included, but check the terms and conditions for specific exclusions.

Trip Interruption/Cancellation Insurance

If you've paid for an eligible trip with the Sapphire Preferred Card and it's cut short or canceled for a covered reason like illness or severe weather, the card's travel insurance could 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 your fare, its trip delay insurance can get you reimbursed 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 (like clothing and toiletries) up to $100 per day for up to five days.

Lost Luggage Reimbursem*nt

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

The Sapphire Preferred Card extends the time period of a US manufacturer's warranty on eligible items by an additional year, on warranties of three years or less when you pay with your card.

Purchase Protection

If an eligible item you've bought with the Sapphire Preferred Card is damaged or stolen within 120 days of purchase, purchase protection could make you eligible for up to $500 in reimbursem*nt per claim, and up to $50,000 per account.

Travel and Emergency Assistance Services

If you're traveling away from home and have a problem, you can get help with medical and legal referrals or other emergency assistance. 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

With the Sapphire Preferred Card, you can receive a complimentary DashPass membership (for waived delivery fees on qualifying orders) through December 31, 2024. Enrollment is required to receive this perk.

Instacart Benefits

Through July 31, 2024, Sapphire Preferred Card cardholders can enroll for a complimentary six months of Instacart+ membership, which comes with free delivery on orders of $35+ and reduced service fees. If you don't plan to keep the membership open beyond six months, be sure to set a calendar reminder to cancel, otherwise, it will automatically renew for another year (currently $99) once your free six months are up.

With the Sapphire Preferred Card, you can now also earn up to $15 per quarter in statement credits toward Instacart purchases (activation required). If you maximize this benefit each quarter, it's worth up to $60 per year — which makes up for much of the card's annual fee.

Chase Sapphire Preferred® Card Fees

It is easy to see how you can get $100 or more in value from this card every year, but it isn't free. The Chase Sapphire Preferred® Card charges a $95 annual fee. However, you can use the card for international purchases without worrying about extra charges, because it doesn't add foreign transaction fees.

Like most other credit cards, you'll pay interest if you carry a balance (currently a 21.49% - 28.49% Variable APR), and there fee in other situations, including balance transfers, cash advances, late payments, and returned payments.

Compare the Chase Sapphire Preferred® Card Card

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.

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.

TheChase 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 points at restaurants; 4x points on groceries at U.S. supermarkets on up to $25,000 in purchases per year; 3x points on flights booked directly with airlines or through Amex Travel; and 1x point per dollar on all other eligible purchases.

New Amex Gold cardholders can earn 60,000 Membership Rewards® points after spending $6,000 on purchases on the card in the first six months of card membership, 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, Seamless, The Cheesecake Factory,, Milk Bar, Goldbelly, and participating Shake Shack locations. This card has an annual fee of $250, which is significantly higher than that of the Sapphire Preferred Card but can be offset by all of the bonus credits if you're able to use them.

Read more in our Amex Gold Card review.

Capital One VentureRewards Credit Card vs. Chase Sapphire Preferred® Card

The Capital One VentureRewards 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 after spending $4,000 on purchases within three months from 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 and rental cars booked through Capital One Travel.

Read more in our Capital One Venture card review.

Sapphire Preferred Card Frequently Asked Questions

Who is eligible for the Chase Sapphire Preferred?

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.

Is the Chase Sapphire Preferred worth it?

The $95 is worth it for occasional and frequent travelers, even the annual fee might seem intimidating if you've only had no-annual-fee cards in the past. It's definitely worth it in the first year because the value of the welcome bonus far exceeds the cost.

What are Chase Sapphire Preferred rewards?

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.

Does the Chase Sapphire Preferred charge for authorized users?

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.

What is the credit limit for the Chase Sapphire Preferred card?

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.

What's the difference between the Chase Sapphire Preferred and Chase Sapphire Reserve?

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.

Can you upgrade the Chase Sapphire Preferred card?

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®.

Can you downgrade the Chase Sapphire Preferred card?

You can downgrade the Sapphire Preferred Card if you've had it for at least a year. If you find that paying the Sapphire Preferred Card's annual fee isn't worth it for you, you could request a downgrade to the no-annual-fee Chase Freedom Flex® or Chase Freedom Unlimited®.

Does the Chase Sapphire Preferred cover TSA PreCheck or Global Entry?

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.

Eric Rosenberg

Freelance Writer

Eric Rosenberg is a finance, travel, and technology writer in Ventura, California. He is a former bank manager and corporate finance and accounting professional who left his day job in 2016 to take his online side hustle full-time. He has in-depth experience writing about banking, credit cards, investing, and other financial topics, and is an avid travel hacker. When away from the keyboard, Eric enjoys exploring the world, flying small airplanes, discovering new craft beers, and spending time with his wife and little girls. You can connect with him at Personal Profitabilityor

Jasmin Baron


Jasmin Baron was an editor at Insider, responsible for credit card coverage on Business Insider. Her expertise in maximizing travel rewards grew from over two decades of experience in the aviation industry, including 18 years working as a pilot and flight instructor in her native Canada.

Angela Fung

Marketing Compliance Manager

Angela Fung is the Compliance Manager for Business Insider'sPersonal Financedivision, overseeing a team that ensures content accuracy and editorial independence so readers are always getting up-to-date and objective financial advice.The compliance team's mission is to maintain reader trust by confirming stories are fact-checked and current so that readers can make informed financial decisions. The team also works to minimize risk for partners by maintaining clear, precise language that is compliant with regulatory and partner marketing guidelines that align with the editorial team.

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Chase Sapphire Preferred Review 2024 (5)

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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 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 circ*mstance, 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 above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply

Chase Sapphire Preferred Review 2024 (2024)
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