Chase Sapphire Preferred Review
The Chase Sapphire Preferred is the most popular travel rewards card in the United States and the cornerstone of most credit card churning strategies. This review covers the current bonus, earning rates, transfer partners, annual fee value, and how it compares to every major competitor.
Card Quick Facts
Why the Sapphire Preferred Is the Most Popular Travel Card
The Chase Sapphire Preferred occupies a unique position in the credit card market. It is the only mid-tier travel card that combines a large sign-up bonus, strong everyday earning rates, and access to one of the best transfer partner ecosystems in the industry, all for a $95 annual fee.
What makes it special is the combination of low cost and high ceiling. Unlike flat cash back cards, Ultimate Rewards points can be transferred 1:1 to partners like World of Hyatt, United, Southwest, and British Airways, where they are regularly worth 1.5 to 3 cents each. A single well-booked Hyatt stay can deliver more value than the entire annual fee.
For churners, the Sapphire Preferred is the single most important card in the hobby. Its 48-month churning cycle is well-documented and repeatable, and its bonus has historically been one of the most generous relative to its annual fee. Whether this is your first travel card or you are returning for another round of the churning cycle, the Sapphire Preferred delivers.
Sign-Up Bonus Breakdown
The current Sapphire Preferred bonus is 70,000 points after spending $4,000 in the first 3 months. At the conservative valuation of 1.5 cents per point via transfer partners, that bonus is worth approximately $1,050.
Bonus Value by Redemption Method
Net bonus value: After subtracting the $95 annual fee, your net first-year value from the bonus alone ranges from $605 (cash back) to $1,305 (best-case transfer). This does not include points earned from the $4,000 in required spending or ongoing everyday use.
Earning Rates and Bonus Categories
The Sapphire Preferred earns bonus points in categories that align with how most travelers spend. Here is the complete earning structure:
The 3x on dining is the standout category. It applies to restaurants, takeout, delivery services, and eligible bars. Combined with the 3x on streaming services (Netflix, Spotify, Hulu, etc.), most cardholders earn bonus rates on a significant portion of their monthly spending without changing any habits.
The 2x on travel covers airlines, hotels, car rentals, trains, taxis, toll bridges, and parking. Note that the Sapphire Reserve earns 3x on travel, which is one of the key differences between the two cards. For heavy travelers, the extra 1x on travel can matter, but for most people the Preferred's 2x is sufficient.
Transfer Partners and Point Redemption
The real value of the Sapphire Preferred comes from Chase Ultimate Rewards transfer partners. Points transfer at a 1:1 ratio to these airline and hotel programs, often for significantly more value than cash back or portal redemptions:
Airlines
- ✓United MileagePlus
- ✓Southwest Rapid Rewards
- ✓British Airways Avios
- ✓Air France/KLM Flying Blue
- ✓Singapore KrisFlyer
- ✓Virgin Atlantic Flying Club
- ✓Iberia Plus
- ✓Aer Lingus AerClub
- ✓Emirates Skywards
- ✓JetBlue TrueBlue
Hotels
- ★World of Hyatt — best value (2+ cpp)
- ✓IHG One Rewards
- ✓Marriott Bonvoy
Best Transfer Sweet Spots
- 1.Hyatt: 5K-15K points per night at mid-tier hotels worth $150-400
- 2.United: 10K-25K miles for domestic flights worth $200-500
- 3.Southwest: Companion Pass + points for free domestic flights
- 4.Virgin Atlantic: book Delta business class at steep discounts
Pro tip: World of Hyatt is the single most valuable transfer partner. Hyatt redemptions consistently deliver 2+ cents per point, and many properties cost just 5,000-15,000 points per night. Transfer your Sapphire bonus to Hyatt for 3-5 free nights at mid-tier hotels that would cost $150-300 per night. Read our points valuation guide for current valuations across all programs.
Perks and Benefits
$50 Annual Hotel Credit
Earn a $50 statement credit on hotel stays booked through Chase Travel each account anniversary year. This effectively reduces the annual fee from $95 to $45, making the card even more cost-effective for anyone who books at least one hotel stay per year.
Primary Rental Car Insurance
This is one of the Sapphire Preferred's best hidden benefits. When you decline the rental company's collision damage waiver and charge the rental to your Sapphire card, Chase provides primary coverage for theft and collision damage. "Primary" means Chase pays first without involving your personal auto insurance, which most competing travel cards (including the Amex Gold) do not offer. This alone can save $15-30 per day on a rental.
Trip Cancellation and Interruption Insurance
If your trip is canceled or cut short due to illness, severe weather, or other covered reasons, the Sapphire Preferred reimburses up to $5,000 per person and $10,000 per trip for non-refundable travel expenses. This covers flights, hotels, tours, and other prepaid travel costs. You must book the trip with your Sapphire card to be covered.
No Foreign Transaction Fees
The Sapphire Preferred charges no foreign transaction fees on purchases made outside the United States. This saves you 3% compared to cards that charge FTFs, making it an excellent travel companion for international trips. Visa is also more widely accepted globally than American Express.
DoorDash Benefits
Sapphire Preferred cardholders receive a complimentary DashPass subscription, which waives delivery fees and reduces service fees on DoorDash orders. This is worth roughly $9.99/month ($120/year) if you would otherwise pay for DashPass.
Pros and Cons
Pros
- ✓Large sign-up bonus (70,000 points) relative to the $95 fee
- ✓1:1 transfer partners including Hyatt, United, and Southwest
- ✓Primary rental car insurance (most competitors only offer secondary)
- ✓$50 annual hotel credit reduces effective fee to $45
- ✓3x on dining and streaming covers common everyday spending
- ✓Churn-friendly: well-documented 48-month cycle
- ✓No foreign transaction fees (Visa network for global acceptance)
- ✓Free DashPass subscription ($120/year value)
Cons
- ✗Only 2x on travel (Reserve earns 3x)
- ✗No airport lounge access (Reserve includes Priority Pass)
- ✗1.25x portal rate vs Reserve's 1.5x when redeeming through Chase Travel
- ✗No grocery bonus category (Amex Gold earns 4x on groceries)
- ✗48-month bonus restriction limits churning frequency
- ✗Must be under Chase 5/24 to apply
- ✗No Global Entry/TSA PreCheck credit (Reserve includes it)
How It Compares
The Sapphire Preferred competes with three other mid-to-premium travel cards. Here is how they stack up on the metrics that matter most:
| Sapphire Preferred | Sapphire Reserve | Amex Gold | Citi Premier | |
|---|---|---|---|---|
| Annual Fee | $95 | $550 | $250 | $95 |
| Sign-Up Bonus | 70,000 points | 125,000 points | 60,000 points | 60,000 points |
| Dining Rate | 3x | 3x | 4x | 3x |
| Travel Rate | 2x | 3x | 3x flights | 3x air/hotels |
| Grocery Rate | 1x | 1x | 4x | 3x |
| Hyatt Transfer | Yes | Yes | No | No |
| Lounge Access | No | Priority Pass | No | No |
| Rental Insurance | Primary | Primary | Secondary | None |
Bottom line: The Sapphire Preferred offers the best value per dollar of annual fee among these four cards. The Amex Gold wins on dining and grocery earning rates, the Sapphire Reserve wins on travel perks, and the Citi Premier wins on category breadth. But no card beats the Sapphire Preferred on net churning value or access to World of Hyatt. For a deep dive, see our Sapphire Preferred vs Reserve comparison and Amex Gold vs Sapphire Preferred comparison.
Churning the Sapphire Preferred
The Sapphire Preferred is the most popular churning target for a reason: high bonus, low fee, and a clear, repeatable cycle. Here is the short version of the strategy:
For the complete walkthrough including the One Sapphire rule, downgrade options, combining with Ink business cards, and common mistakes to avoid, see our full Chase Sapphire Churning Guide.
Who Should Get the Sapphire Preferred
Great Fit If You...
- ✓Dine out or order delivery frequently (3x points)
- ✓Travel at least once or twice per year
- ✓Want to transfer points to Hyatt, United, or Southwest
- ✓Are interested in credit card churning
- ✓Rent cars (primary insurance saves $15-30/day)
- ✓Want a premium travel card without premium pricing
Skip It If You...
- ✗Prefer simple cash back with no points management
- ✗Spend heavily on groceries (Amex Gold is better)
- ✗Travel enough to justify the Reserve's lounge access and credits
- ✗Are over Chase 5/24 (you will be auto-denied)
- ✗Already received a Sapphire bonus within 48 months
- ✗Do not want to pay any annual fee
Frequently Asked Questions
Is the Chase Sapphire Preferred worth the $95 annual fee?
Yes, for most travelers. The $50 annual hotel credit effectively reduces the fee to $45, and the 3x earning on dining and streaming quickly generates value beyond that. A single transfer to Hyatt for a hotel night can be worth $200-400 in savings, far exceeding the annual fee. The card more than pays for itself if you dine out regularly and take at least one trip per year.
What credit score do you need for the Chase Sapphire Preferred?
Chase generally requires a good credit score (670+ FICO) for the Sapphire Preferred. Most successful applicants have scores of 700 or higher. You also need to be under Chase 5/24 (fewer than 5 new personal credit cards across all issuers in the past 24 months) and cannot currently hold another Sapphire product.
How much is the Chase Sapphire Preferred sign-up bonus worth?
The current 70,000 Ultimate Rewards point bonus is worth at least $875 at the baseline 1.25 cents per point through Chase Travel. When transferred to partners like Hyatt, United, or Southwest, the same points are frequently worth $1,050-$1,400 depending on the redemption. The bonus requires $4,000 in spending within the first 3 months.
Can you churn the Chase Sapphire Preferred?
Yes, but only once every 48 months. Chase will not award a Sapphire bonus if you received any Sapphire bonus (Preferred or Reserve) within the past 48 months. You must also not currently hold a Sapphire product. Most churners apply, hold the card for one year, downgrade to a Chase Freedom card, and reapply after 48 months from their last bonus date.
Is the Chase Sapphire Preferred better than the Amex Gold?
It depends on your spending. The Amex Gold earns 4x on restaurants and groceries vs the Sapphire Preferred 3x on dining, making it better for food spending. However, the Sapphire Preferred has a much lower effective annual fee ($95 vs $250), better travel insurance (primary rental car coverage), and Hyatt as a transfer partner, which many consider the most valuable hotel loyalty program. For churning, the Sapphire Preferred wins on net bonus value.
Should I get the Sapphire Preferred or the Sapphire Reserve?
The Sapphire Preferred is better for most people. Its $95 annual fee is far lower than the Reserve ($550), while the sign-up bonuses are similar. The Reserve makes sense only if you travel frequently enough to use the $300 travel credit, Priority Pass lounge access, and the higher 1.5 cents per point portal redemption rate. For pure churning value, the Preferred always wins due to the lower fee.
What are the best Chase Sapphire Preferred transfer partners?
The most valuable transfer partners are World of Hyatt (consistently 2+ cents per point), United MileagePlus (good domestic awards), Southwest Rapid Rewards (great for domestic travel), and British Airways Avios (short-haul awards). Points transfer 1:1 to all partners. Hyatt is widely considered the single best hotel transfer partner across any credit card program.
Does the Chase Sapphire Preferred have primary rental car insurance?
Yes. The Sapphire Preferred includes primary rental car insurance, meaning it pays first before your personal auto insurance. This is a significant benefit that most competing cards (including the Amex Gold) do not offer. It covers damage and theft on rentals in the US and abroad, potentially saving you $15-30 per day in rental company insurance charges.
Can you downgrade the Chase Sapphire Preferred to avoid the annual fee?
Yes. You can product change (downgrade) the Sapphire Preferred to a Chase Freedom Unlimited or Chase Freedom Flex, both of which have no annual fee. This preserves your credit line and account history. Call the number on the back of your card after the first anniversary to request the change. Your Ultimate Rewards points stay in your account.