The Chase Sapphire Preferred is a rewards card that earns points on travel and dining
The Chase Sapphire Preferred is a premium rewards card designed for people who spend regularly on travel and restaurants. It earns 2 points per dollar on those two categories and 1 point per dollar on everything else. The card charges an annual fee — currently $95 — but cardholders receive a statement credit each year that can offset some of that cost.
The card's main appeal is the flexibility of its rewards. Points can be redeemed for cash back, transferred to airline and hotel partners, or used through Chase's travel portal at a higher value. Unlike some rewards cards that lock you into one redemption method, this one lets you choose based on what you need at the time.
Chase also offers a sign-up bonus for new cardholders, though the specific offer changes. When you first open the account, you can earn bonus points if you spend a certain amount within the first few months. The bonus is separate from the points you earn on everyday purchases.
Key Takeaways
- The Sapphire Preferred earns 2 points per dollar on travel and dining purchases, and 1 point per dollar on all other spending.
- The card has a $95 annual fee, but includes a $50 annual travel credit that reduces the net cost.
- Points can be redeemed for cash back, transferred to travel partners, or used through the Chase travel portal at bonus value.
- New cardholders receive a sign-up bonus if they meet a spending threshold in the first few months.
- The card is best suited for people who travel frequently or eat out regularly and want flexibility in how they use their rewards.
How the rewards and credits work
Every purchase you make earns points at one of three rates: 2 points per dollar on travel and dining, 1 point per dollar on everything else, or 0 points if the purchase doesn't count toward rewards (like balance transfers or cash advances). Travel includes flights, hotels, rental cars, taxis, and ride-sharing services. Dining includes restaurants and bars.
The $50 annual travel credit is automatic once per calendar year. It covers purchases made through the Chase travel portal, which includes flights, hotels, car rentals, and some other travel expenses. The credit posts to your account after you make the purchase, not before, so you pay the full price upfront and then see the credit applied to your next statement.
Points don't expire as long as your account remains open. You can let them accumulate over time without losing them. If you close the card, any remaining points stay in your Chase rewards account for up to a year, giving you time to use them before they vanish.
Redeeming your points
You have three main ways to use your points. The simplest is cash back, where each point is worth 1 cent — so 10,000 points equals $100. This option requires no planning and works if you just want money back.
The second option is transferring points to Chase's travel partners, which include airlines like United, Southwest, and American, plus hotel chains like Hyatt and IHG. The value you get depends on the partner and the specific redemption. Sometimes a point is worth more than 1 cent when transferred; sometimes less. You have to check each partner's rate before you transfer.
The third option is redeeming through the Chase travel portal at a higher rate. When you book travel through the portal, your points are typically worth 1.25 cents each instead of 1 cent. So 10,000 points might cover $125 of travel instead of $100. This option works best if you're booking flights or hotels directly rather than looking for specific dates on a partner airline.
Annual fee and whether it makes sense for you
The $95 annual fee is charged once per year on your account anniversary. The $50 travel credit offsets half of that, bringing your net cost to $45 per year if you use the credit. To break even, you need to earn enough points to cover that $45 difference.
If you spend $2,250 per year on travel and dining combined, you'll earn 4,500 bonus points (at 2 points per dollar), which is worth $45 in cash back. That means the card pays for itself if you hit that spending level. If you spend less, the card may cost you money. If you spend significantly more — say $10,000 per year on travel and dining — the points will easily cover the fee and generate value on top.
The card also makes sense if you value the travel protections it includes, such as trip cancellation insurance, lost luggage reimbursement, and emergency medical coverage when you're traveling. These benefits are included with the card and don't cost extra.
How to open the account
You can open a Sapphire Preferred account online through Chase's website or by calling their phone line. The online process takes about 10 minutes and asks for your Social Security number, income, employment status, and address. You'll also need to provide a valid government ID.
Chase will tell you when ready whether you're approved, denied, or pending a decision. If approved, your card usually arrives within 7 to 10 business days. You can start using it as soon as it arrives, and the sign-up bonus period begins on the day your account opens, not the day the card arrives.
If you're denied, you can call the reconsideration line to ask why and potentially reapply. Chase sometimes approves applicants after a phone conversation, especially if your credit is good but you don't have a long history with the bank.
What credit score you typically need
Chase generally approves the Sapphire Preferred for people with a credit score of 670 or higher, though approval is not may provide at any score. The higher your score, the more likely you are to be approved. If your score is below 670, you may still be approved, but it depends on your full credit profile — how much debt you carry, whether you pay on time, and how long your credit history is.
If you've been denied for other premium cards recently, or if you have recent late payments, your chances of approval are lower. Chase also looks at how many credit inquiries you've had in the past few months. Multiple recent applications can hurt your chances even if your score is good.
Comparing the Sapphire Preferred to other Chase cards
Chase offers the Sapphire Reserve, which is a higher-tier card with a $550 annual fee, higher earning rates, and more generous travel credits. The Reserve earns 3 points per dollar on travel and dining instead of 2, and includes a $300 annual travel credit instead of $50. It's designed for people who spend heavily on travel and want premium benefits.
Chase also offers the Sapphire Preferred for Business, which has the same earning rates and annual fee but is designed for business owners and includes business-specific benefits like expense tracking and employee cards.
For people who don't want to pay an annual fee, the Chase Freedom Unlimited earns 1.5 points per dollar on all purchases with no annual fee. It earns less on travel and dining, but costs nothing to hold. The choice depends on whether your spending justifies the Sapphire Preferred's fee.
Frequently Asked Questions
Can I get the sign-up bonus if I've had this card before?
Chase typically allows you to earn the sign-up bonus once every 24 months. If you closed the card and reapplied within 24 months, you won't may have access to for the bonus. If it's been longer than 24 months, you usually can. Check Chase's current terms before you explore, as these rules change.
What happens to my points if I close the card?
Your points don't disappear when ready. They stay in your Chase rewards account for up to a year after you close the card, so you have time to redeem them. After a year, any unused points are forfeited. You can redeem them for cash back, transfer them to partners, or use them through the travel portal before the important date.
Does the $50 travel credit cover everything?
The credit covers purchases made through the Chase travel portal, which includes flights, hotels, car rentals, and some other travel-related expenses. It does not cover travel booked outside the portal, like a flight purchased directly from an airline's website. You have to book through Chase's portal to use the credit.
Can I use this card internationally?
Yes. The card works abroad and earns the same points as it does in the United States. There is no foreign transaction fee, which means you won't be charged extra for using it outside the US. You will still earn 2 points per dollar on travel and dining purchases made internationally.
What if I don't meet the sign-up bonus spending requirement?
If you don't spend enough to earn the bonus within the required timeframe, you straightforward don't receive it. The bonus is forfeited — it doesn't roll over or extend. You'll still earn regular points on your purchases at the standard rates, and you'll still be responsible for the annual fee.