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How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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Chase Sapphire Preferred® Card Review: Is It Worth the Annual Fee?

Updated on:
Content was accurate at the time of publication.
LendingTree's Review

How LendingTree Rates Credit Cards?

Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.
4.7
Chase Sapphire Preferred<sup>®</sup> Card
Sign-Up Bonus
Get up to $1,050 in Chase Travel℠ value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That's worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year.
Rewards Rate
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.
Bonus Perks
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It was not reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
Citi is an advertising partner.

Key takeaway

With an exceptionally large sign-up bonus and a flexible rewards program sans a high annual fee, the Chase Sapphire Preferred® Card is one of the best travel rewards cards around.

Pros and cons

  • Large sign-up bonus
  • Good rewards on dining and travel
  • Transfer points 1:1 to 10+ travel partners, including United, Southwest and Hyatt
  • 25% bonus on travel portal redemptions
  • Great travel protections, including primary car rental insurance
  • $95 annual fee
  • Doesn’t have Global Entry/TSA PreCheck credit
  • No airport lounge access

Is the Chase Sapphire Preferred® Card worth it?

First-year value: $2,032 versus $636 for the average rewards credit card*
Ongoing value: $832 versus $322 for the average rewards credit card*

*Based on LendingTree’s value methodology

For those who travel frequently and are looking for an outstanding travel rewards card, the Chase Sapphire Preferred® Card’s benefits more than justify the $95 annual fee. It offers many of the features you’d expect from a top travel card, including an enormous sign-up bonus. You’ll earn points at a fast pace on a variety of everyday categories, including 3X points on dining and a stellar 5X points on travel. You’ll also get a $50 annual hotel credit.

Plus, it gives you access to the Chase Ultimate Rewards® program, which is one of the most flexible options around. You’ll get a 25% bonus on Chase travel portal redemptions. And you can transfer points to a variety of loyalty programs — including United, Southwest and Hyatt — for even more value.

But in exchange for a lower annual fee, you’ll miss out on premium travel benefits, like lounge access or a TSA PreCheck or Global Entry credit. If you’re a heavy traveler who can get value out of these types of benefits, you might level up with a higher-annual-fee card like the Chase Sapphire Reserve®.

Not the right card for you? Check out our top travel credit cards

Quick facts

  • Annual fee: $95
  • Regular purchase APR: 20.99% - 27.99% Variable
  • Foreign transaction fee: $0
  • Sign-up bonus: Get up to $1,050 in Chase Travel℠ value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That's worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year.
  • Rewards: 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.
  • Other benefits:
    • $50 Annual Chase Travel Hotel Credit
    • Primary car rental insurance
    • Trip interruption/cancellation insurance
    • Trip delay reimbursement
    • Complimentary DashPass subscription
  • Recommended credit: Excellent

How do the Chase Sapphire Preferred® Card's benefits rate?

  • Sign-up bonus (4.3 out of 5 stars)

    Chase typically offers a 60,000-point bonus for this card, and the company upped the offering for a limited time earlier this year. Currently, the sign-up bonus still lets you get up to $1,050 in Chase Travel℠ value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That's worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year. This is one of the best sign-up bonuses currently available among travel rewards cards.

    Who’s eligible to apply?

    You have to be a new card member to qualify for the sign-up bonus. So if you already have a Chase card or you’ve received a bonus for any Sapphire card within the last 48 months, this bonus isn’t applicable. You also have to spend $4,000 on new purchases within the first three months of getting this card to land this offer — that excludes things like balance transfers, cash advances, and wire transfers. Plus, your account has to be open and not in default at the time of fulfillment.

    Should you apply now? If the Chase Sapphire Preferred® Card is at the top of your list, then the current sign-up bonus makes it a great time to apply for this card — even though the limited time offer has passed.

    Recent offers for the Chase Sapphire Preferred® Card

    DateNumber of points
    May 2024 limited-time offer75,000
    Typical offer60,000

  • Earning points (4.8 out of 5 stars)

    This card offers one of the highest rewards rates you can find for a card with a $95 annual fee. It’s a great option for people who spend heavily on travel and dining, since it rewards cardholders richly in these categories. You’ll 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. Additionally, earn 5X points on Lyft rides through March 2025.

    In fact, because of the high value of Chase points, it’s one of the most rewarding cards for travel. Notably, you can find cards with better overall rewards rates in cards like the American Express® Gold Card (see rates & fees) or the Capital One Venture X Rewards Credit Card (see rates & fees), but those also come with higher annual fees than the Chase Sapphire Preferred® Card.

    Rewards earned per $1 spent*

    *Based on LendingTree’s value methodology

  • Redeeming points (5 out of 5 stars)

    When it comes to actually cashing in on the points you earn with the Chase Sapphire Preferred® Card, it’s hard to beat this card’s flexibility. Chase Ultimate Rewards® points are some of the most valuable and flexible rewards around. That’s because you can redeem them for any travel purchase at a rate of at least 1.25 cents per point, and you can even transfer them at a 1:1 ratio to over 10 of the company’s partners for a potential value of around 2 cents per point.

    Plus, you can redeem points for cash back for a value of 1 cent per point, which gives you the option to cash out your points if you’re in a pinch or want to close your card.

    Value of 1,000 Ultimate Rewards points

    • Cash back: $10
    • Gift cards: $10
    • Travel on Chase TravelSM portal: $15
    • Transfer to loyalty program: ~$20
    • Pay with points on Amazon.com and PayPal: $8

    Chase Sapphire Preferred® Card transfer partners

    • Aer Lingus AerClub
    • Air Canada Aeroplan
    • British Airways Executive Club
    • Emirates Skywards
    • Flying Blue AIR FRANCE KLM
    • Iberia Plus
    • JetBlue TrueBlue
    • Singapore Airlines KrisFlyer
    • Southwest Airlines Rapid Rewards
    • United MileagePlus
    • Virgin Atlantic Flying Club
    • IHG Rewards Club
    • Marriott Bonvoy
    • World of Hyatt

    Learn more about transferring Chase points

  • Other benefits (3 out of 5 stars)

    The Chase Sapphire Preferred® Card’s travel benefits don’t stop at its rewards. You also have access to great travel protections, like primary car rental insurance and trip cancellation insurance. All told, these are especially impressive considering that the Chase Sapphire Preferred® Card’s annual fee is just $95.

    However, you should be aware that you’re not going to get some of the premium travel benefits that you can get with other higher-fee cards, such as airport lounge access.

    Here’s a quick breakdown of the Chase Sapphire Preferred® Card‘s benefits:

    • Primary car rental insurance: Get coverage in the form of a reimbursement up to the actual cash value for theft or damage of a rental vehicle if you decline the rental car company’s coverage. Coverage is primary, which means you can submit your claim straight to Chase without having to go through your personal car insurance first.
    • $50 hotel credit: Up to a $50 annual credit for hotels booked through Chase Travel.
    • Trip cancellation/interruption insurance: If your trip is canceled or you have to end it early due to covered events like illness or severe weather, you can get reimbursed up to $10,000 per person (or $20,000 per trip), assuming your trip is prepaid and non-refundable.
    • Trip delay reimbursement: Up to $500 per ticket for trip delays over 12 hours or those that require an overnight stay.
    • Baggage protection: Up to $100 per day (for up to five days) toward essentials like toiletries and clothing for baggage delays over six hours.
    • Purchase protection: Eligible new purchases are covered against damages or theft for the first 120 days, up to $500 per claim (and $50,000 per account).
    • Extended warranty protection: Get a one-year extension on eligible warranties of three years or less.
    • DashPass subscription: Free annual membership to DoorDash and Caviar, with $0 delivery fees and lower service fees for eligible orders if you activate the subscription by the end of 2027.

| Disclosures
Chase Sapphire Reserve®
Chase Sapphire Reserve®
apply-now-icon Apply Now
on Chase's secure site
N/A
21.99% - 28.99% Variable
$550
Earn 5x total points on flights and 10x total points on hotels
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
  • Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 60,000 points are worth $900 toward travel.
  • 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, 2027.
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Member FDIC
720 850
Excellent

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.


The Chase Sapphire Reserve® could make more sense for frequent travelers looking to maximize their rewards. It matches the current sign-up bonus points offered by the Chase Sapphire Preferred® Card, and it also offers a $300 travel credit that applies to any eligible travel purchase — not just hotels. It comes with other plush travel perks, including Priority Pass airport lounge access and a credit for Global Entry/TSA PreCheck.

Just like the Chase Sapphire Preferred® Card, you can transfer points to Chase’s travel partners or redeem them through Chase Travel with an added benefit: a 50% (rather than 25%) boost on your rewards.

But, with a $95 annual fee — not to mention a $75 authorized user fee — you should ensure you’re taking advantage of all these benefits to justify the fee.

| Disclosures
American Express® Gold Card
American Express® Gold Card
apply-now-icon Apply Now
on American Express's secure site
Rates & Fees
| Terms Apply
N/A
See Pay Over Time APR
$325
Earn 4X Membership Rewards® Points at Restaurants (on up to $50,000 per
  • Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
  • Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
  • Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
  • Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
  • $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations.
  • $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
  • Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges with every booking of two nights or more through AmexTravel.com. Eligible charges vary by property.
  • No Foreign Transaction Fees.
  • Annual Fee is $325.
  • Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
  • Terms Apply.
660 720 850
Good / Excellent

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.


The American Express® Gold Card is a better option for those who tend to spend more on food than travel. You can earn 4X Membership Rewards® Points at Restaurants (on up to $50,000 per calendar year in purchases, then 1X), Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X). Earn 3X Membership Rewards® points on flights booked directly with airlines or on AmexTravel.com. Earn 2X Membership Rewards® points on prepaid hotels and other eligible purchases booked on AmexTravel.com. Earn 1X Membership Rewards® point on all other eligible purchases. Terms Apply.

Plus, there’s up to a $120 annual dining credit ($10 monthly) when you spend money at select restaurants (enrollment required). And you can earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Just make sure you’re using the rewards regularly to justify the card’s somewhat hefty $325 annual fee (see rates & fees).

| Disclosures
Capital One Venture Rewards Credit Card
Capital One Venture Rewards Credit Card
apply-now-icon Apply Now
on Capital One's secure site
Rates & Fees
N/A
19.99% - 29.74% (Variable)
$95
2 Miles per dollar on every purchase, every day; 5 Miles per
  • Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
  • Earn unlimited 2X miles on every purchase, every day
  • Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Receive up to a $120 credit for Global Entry or TSA PreCheck®
  • Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
  • Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
  • Transfer your miles to your choice of 15+ travel loyalty programs
  • 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
660 720 850
Good / Excellent

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.


If you’re looking for another card that offers solid rewards for occasional travel, with a relatively low annual fee ($95), the Capital One Venture Rewards Credit Card could be it (see rates & fees). It lets you earn miles at the same flat rate on most purchases with elevated earnings on hotels and rental cars booked through Capital One Travel.

You can either book travel through Capital One Travel with your miles or transfer them to over 15 travel loyalty programs. As a drawback, Capital One has a slightly less robust set of travel partners than Chase, with no major U.S. airlines. However, the Capital One Venture Rewards Credit Card does have one advantage over the Chase Sapphire Preferred® Card: a $120 credit for Global Entry or TSA PreCheck.

Should you get the Chase Sapphire Preferred® Card?

The Chase Sapphire Preferred® Card could be an excellent option if you have great credit, travel frequently and want a new card that offers solid travel rewards without a huge annual fee.

However, if you’re a frequent traveler who is looking for better travel perks and even more rewards, you should check out a higher-tier travel card like the Chase Sapphire Reserve®.

apply-now-icon Apply Now
on Chase's secure site

Frequently asked questions

Yes, the Chase Sapphire Preferred® Card is an embedded metal card, as is the case for the Chase Sapphire Reserve®.

Yes, you can use this card internationally. Plus, there are no foreign transaction fees with the Chase Sapphire Preferred® Card, which means you won’t rack up additional charges (usually 2% to 3%) on your purchases made outside the U.S.

Yes. The Chase Sapphire Preferred® Card comes with one of the best credit card travel insurance policies you can find. It includes several protections for travelers, such as trip cancellation insurance, a primary rental car collision damage waiver, baggage delay insurance, a trip delay reimbursement and travel and emergency assistance services.

No. Unlike many other travel cards, the Chase Sapphire Preferred® Card does not offer a credit for Global Entry or TSA PreCheck.

Yes, like most Chase credit cards, the Chase Sapphire Preferred® Card comes with stringent credit score requirements. Chase recommends this card for applicants with excellent credit.

No, Chase Ultimate Rewards® points don’t expire. Chase allows you to keep those points as long as your account is open, including those earned via the Chase Sapphire Preferred® Card.

In order for a purchase to fall into the “travel” points category, the merchant associated with the purchase must be one of the following: Airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds, operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, parking lots and garages.

To see rates & fees for American Express cards mentioned on this page, visit the links provided below:

For Capital One products listed on this page, some of the above benefits are provided by third parties such as Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as certain terms, conditions, and exclusions apply.

The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.