Quick verdict
Best for travelers who book 1–3 trips/year. Skip if you rarely travel or dine out, or want simple flat-rate cash back.
🎁 Welcome bonus
60,000 points (worth $750 in travel) after $4,000 spend in 3 months
⚡ Rewards
| Category | Rate | Type |
|---|---|---|
| Travel (Chase portal) | 5x | points |
| Dining | 3x | points |
| Streaming | 3x | points |
| Online groceries | 3x | points |
| Other travel | 2x | points |
| Everything else | 1x | points |
Points/miles valued at 1.25¢ each (CreditStud.io estimate based on typical travel redemption).
💰 Annual Credits ($50 total face value)
| $50 annual hotel credit (Hotels booked through Chase Travel) | $50 |
Credit value depends on you actually using them. Many credits are split monthly or semi-annually, so factor in your usage habits before counting them against the AF.
✨ Perks
- Trip delay insurance (6+ hours)
- Baggage delay insurance
- Primary auto rental collision damage waiver
- No foreign transaction fees
- DoorDash DashPass (12 months free)
- Instacart+ membership (12 months)
- 25% bonus when redeeming points for travel through Chase
🎯 Who should consider this card
✅ Best for
- Travelers who book 1–3 trips/year
- People who eat out regularly
- Beginners to the Chase Ultimate Rewards ecosystem
❌ Skip if
You rarely travel or dine out, or want simple flat-rate cash back.
📊 Example: Typical traveler/diner
Travel (Chase portal): $300/mo × 12 × 5x$225 value
Dining: $400/mo × 12 × 3x$180 value
Streaming: $50/mo × 12 × 3x$23 value
Online groceries: $150/mo × 12 × 3x$68 value
Other travel: $1500/mo × 12 × 2x$450 value
Everything else: $1500/mo × 12 × 1x$225 value
+ Annual credits (full use)$50
– Annual fee–$95
Net annual value+$1125
Based on illustrative spending. Use our AF Worth It Calculator to plug in your real numbers.
📋 Application tips
Credit needed
Good to Excellent (670+)
Issuer rules
5/24 rule: Chase typically denies if you've opened 5+ cards (any issuer) in the past 24 months.
Not sure if you'll qualify? Try our credit score simulator to see what rate range you might fall into.
⚖️ Compare to similar cards
❓ Frequently asked questions
Is the Chase Sapphire Preferred worth the $95 annual fee?
For most people who travel and dine out, yes. The $50 annual hotel credit alone covers more than half the fee, and the 5x travel / 3x dining rewards add up fast. The signup bonus alone (worth ~$750 in travel) covers the fee for ~7 years.
What are Chase Sapphire Preferred points worth?
Points are worth 1.25¢ each when redeemed for travel through Chase Travel, or 1¢ for cash back. With Chase's transfer partners (Hyatt, United, Southwest, etc.), savvy redeemers regularly get 1.5–2¢+ per point.
What credit score do I need for the Chase Sapphire Preferred?
Good to excellent credit (670+ FICO) is recommended. Chase also enforces the unwritten "5/24 rule" — if you've opened 5 or more credit cards from any issuer in the last 24 months, you'll likely be denied regardless of score.
Does the Chase Sapphire Preferred have foreign transaction fees?
No — zero foreign transaction fees, making it a strong choice for international travel.
How does the Sapphire Preferred compare to the Reserve?
The Reserve ($545 AF) adds airport lounge access, $300 annual travel credit, and 1.5¢/point redemption. The Preferred ($95) is a better value unless you fly enough to use the lounges (~10+ flights/year) and use the full $300 credit.
Can I downgrade the Sapphire Preferred later?
Yes. After year 1, you can downgrade product-change to Chase Freedom Unlimited or Freedom Flex (no AF), keeping your account history. You can't upgrade back without a new application though.