Chase Sapphire Preferred Review: Is It Worth the Annual Fee?
The Chase Sapphire Preferred review is more interesting in 2026 than it was a year ago. The card still charges a relatively modest $95 annual fee, but Chase has added new rewards categories, a larger hotel credit and additional travel benefits. It also currently offers a limited-time welcome bonus of 100,000 Chase Ultimate Rewards points after spending $5,000 in the first three months, although bonus eligibility restrictions apply.
The bigger question is whether the card is actually worth keeping after the welcome bonus is gone.
For travelers who dine out regularly, book hotels through Chase Travel and can use the card’s travel protections, the answer may be yes. For someone who rarely travels or prefers simple cash back, there are probably better options.
Chase Sapphire Preferred: Quick overview
| Feature | Details |
|---|---|
| Annual fee | $95 |
| Regular APR | 19.24%–27.49% variable APR |
| Current welcome offer | 100,000 points after spending $5,000 in the first 3 months |
| Chase Travel rewards | 5x points |
| Dining | 3x points |
| Gas and EV charging | 3x points |
| Vacation homes | 3x points |
| Other travel | 2x points |
| Foreign transaction fees | None |
| Annual hotel credit | Up to $100 through Chase Travel |
The Chase Sapphire Preferred review comes down to one central question: can you get at least $95 in practical value from the card each year?
For many cardholders, the answer is easier to reach than it used to be because of the $100 Chase Travel hotel credit. However, the credit has an important limitation: it only applies to qualifying hotel stays booked through Chase Travel. It is also not the same as receiving $100 in cash.
What makes the Chase Sapphire Preferred different?
The card is built around Chase Ultimate Rewards points.
You earn points from everyday spending, and those points can be used in several ways. You can redeem them through Chase Travel, transfer them to participating travel partners or use other redemption options available through the Ultimate Rewards program.
That flexibility is one of the main reasons people choose the Sapphire Preferred over a simple cash-back card.
A cash-back card is easy to understand: spend money, earn cash back and redeem it.
The Sapphire Preferred requires a little more effort. The potential upside is that points can be more valuable when used strategically for travel.
That makes this card particularly interesting for people who enjoy comparing redemption options rather than simply taking the easiest available reward.
Chase Sapphire Preferred rewards: How good are they?
The rewards structure is one of the strongest parts of the card.
You earn:
- 5x points on travel purchased through Chase Travel.
- 3x points on dining worldwide.
- 3x points on gas stations and EV charging.
- 3x points on vacation homes at top brands such as Airbnb and Vrbo.
- 3x points on online groceries, excluding Target, Walmart and wholesale clubs.
- 3x points on select streaming services.
- 2x points on other travel purchases.
- 1x point on other purchases.
The new 3x categories make the card more useful for everyday spending than it was previously. In particular, gas, EV charging and vacation-home spending can make the card more rewarding for people whose spending does not fit neatly into traditional travel categories.
Still, the card is not automatically the best choice for every purchase.
If another card gives you a higher cash-back rate on a category where you spend heavily, using the Sapphire Preferred there may not maximize your rewards.
The $100 Chase Travel hotel credit
The $100 annual hotel credit is probably the most important benefit to consider when evaluating the card’s $95 annual fee.
Each account anniversary year, you can receive up to $100 in statement credits for qualifying hotel stays purchased through Chase Travel.
On paper, that is enough to offset the annual fee.
In practice, however, you need to actually use the credit.
The credit does not apply to every hotel booking. Chase states that the hotel must be booked through Chase Travel, and qualifying purchases do not earn rewards points. Any unused portion of the credit is forfeited when the annual benefit period ends.
That means the benefit is worth close to $100 only if you would have booked an eligible hotel stay anyway.
If you book directly with hotels and have no interest in using Chase Travel, the credit may be much less valuable to you.
The welcome bonus can make the first year especially valuable
The current welcome offer is a major reason someone might consider applying for the card now.
New cardmembers can earn 100,000 points after spending $5,000 on purchases in the first three months from account opening, according to Chase’s current offer terms. However, eligibility restrictions may apply to people who currently have the card or have previously held it or received a bonus on it.
The spending requirement is significant.
You should not spend $5,000 simply to earn a bonus if you would otherwise struggle to pay the balance. The value of a welcome bonus can quickly be erased by interest charges if you carry debt at a high APR.
For someone who already has several thousand dollars in normal planned expenses coming up, though, the bonus can make the first year of the card particularly attractive.
How valuable are Chase Ultimate Rewards points?
The answer depends heavily on how you redeem them.
You can use points in different ways, including through Chase Travel and transfers to participating travel partners.
The transfer option is one of the card’s biggest advantages for people who understand travel rewards.
However, Chase changed the transfer ratio for World of Hyatt for new Sapphire Preferred cardmembers who apply on or after June 15, 2026. The transfer ratio is now 4:3, while cardmembers who opened the account before that date have transitional terms through September 30, 2026.
That change is worth noting because travel rewards programs can change over time.
In other words, the value of a point is not permanently fixed. A redemption that looks attractive today may become less valuable if an issuer changes its program terms.
Travel benefits are a major strength
The Chase Sapphire Preferred is not just a points card.
It also includes several travel protections, including benefits related to trip cancellation and interruption, trip delays, rental cars and other travel situations.
Chase says the card’s updated travel protection package now includes emergency evacuation and transportation coverage, with eligible coverage of up to $100,000 for certain situations involving a covered traveler who becomes sick or injured during a trip 100 miles or more from home. Terms and conditions apply.
The card also has no foreign transaction fees.
That is important for anyone who uses a credit card while traveling outside the United States. A card with foreign transaction fees can add a percentage to every eligible purchase made abroad.
Global Entry, TSA PreCheck and NEXUS credit
The card now offers up to $120 in statement credit every four years for an application fee for Global Entry, TSA PreCheck or NEXUS.
This can be a useful benefit for frequent travelers.
However, it should not be treated as an annual benefit. You receive the credit once every four years, not once per year.
If you already have another credit card that offers the same benefit, this feature may not add much value.
Additional benefits: DoorDash, Apple TV, Lyft and Peloton
The card also includes several partner benefits.
Current benefits include:
- A complimentary one-year DashPass membership when activated within the applicable period.
- Up to $10 per month in DoorDash promotional value for eligible orders.
- A complimentary one-year Apple TV subscription when activated by December 31, 2026.
- 5x points on eligible Peloton equipment and accessories over $150, subject to the applicable limits and offer period.
- 5x points on eligible Lyft products and services through September 30, 2027.
These benefits can add value, but they should not be the main reason to pay the annual fee.
The best approach is to treat them as extras. If you already use DoorDash or Apple TV, they may be genuinely useful. If you would not use the services otherwise, their advertised value may be much less meaningful to you.
Is the $95 annual fee worth it?
For many travelers, yes.
The simplest calculation looks like this:
$100 hotel credit − $95 annual fee = $5 in potential net value
That calculation is not the whole story, though.
The hotel credit is only valuable if you use it. You also need to consider whether the booking through Chase Travel is competitive with other booking options and whether the card’s other benefits fit your lifestyle.
Someone who uses the hotel credit, earns bonus points on dining and travel and benefits from the travel protections could get significantly more than $95 in value.
Someone who never books hotels through Chase Travel and rarely travels may have difficulty justifying the fee.
Who should get the Chase Sapphire Preferred?
This card makes the most sense for people who:
- Travel at least occasionally.
- Spend regularly on dining.
- Can use the $100 Chase Travel hotel credit.
- Want flexible travel rewards.
- Value travel protections.
- Can comfortably meet the welcome bonus spending requirement.
- Are willing to learn how to get more value from points.
The card is particularly appealing to someone who wants a travel card without jumping immediately to a premium card with a much higher annual fee.
Who should probably skip it?
The Sapphire Preferred may not be the right choice if:
- You rarely travel.
- You prefer straightforward cash back.
- You do not use Chase Travel.
- You would need to carry a balance to meet the welcome bonus requirement.
- You already have another card covering the same travel benefits.
- You are looking for a completely free credit card with no annual fee.
For example, someone who spends most of their money on groceries and everyday purchases may find a cash-back card easier and more rewarding.
Likewise, someone who carries credit card debt should generally focus on the interest rate and repayment strategy before chasing rewards.
Chase Sapphire Preferred vs. Chase Sapphire Reserve
The Sapphire Preferred and Sapphire Reserve target different types of travelers.
The Preferred has a $95 annual fee. The Reserve has a much higher annual fee but offers more premium travel benefits and higher rewards on certain travel purchases.
The Reserve may be better for frequent travelers who can use its larger collection of credits and premium benefits.
The Preferred is more accessible for someone who wants travel rewards without committing to a premium-card annual fee.
Chase itself describes the Preferred as the lower-fee option, while the Reserve provides a broader package of premium travel benefits and credits.
Our Chase Sapphire Preferred review: Is it worth it?
Yes, the Chase Sapphire Preferred is still worth considering in 2026, especially for people who travel and can use the $100 Chase Travel hotel credit.
The card’s biggest strengths are its relatively low $95 annual fee, flexible Ultimate Rewards points, strong dining rewards, travel protections and expanded bonus categories.
The biggest weakness is that some of the card’s value depends on using specific benefits. If you do not book hotels through Chase Travel or use the partner perks, the annual fee becomes harder to justify.
The current welcome offer can make the first year particularly attractive for eligible applicants who can meet the spending requirement without taking on credit card debt.
For the long term, though, the answer is simple: if you can consistently use the benefits and rewards, the card can be worth the fee. If you cannot, a no-annual-fee cash-back card may be the better choice.
Frequently asked questions
Is the Chase Sapphire Preferred worth the $95 annual fee?
It can be. The card offers up to $100 in annual hotel statement credits through Chase Travel, along with rewards and travel protections. Its value depends on whether you actually use those benefits.
What credit score do you need for Chase Sapphire Preferred?
Chase does not publish a single guaranteed credit score requirement for approval. Approval decisions depend on multiple factors, including your overall credit profile and application information.
Does Chase Sapphire Preferred have foreign transaction fees?
No. The card does not charge foreign transaction fees on eligible purchases made outside the United States.
How many points does Chase Sapphire Preferred earn?
The card earns 5x points on travel through Chase Travel, 3x on several categories including dining, gas and EV charging, vacation homes, online groceries and select streaming services, 2x on other travel and 1x on other purchases. Terms and exclusions apply.
Can you use Chase Sapphire Preferred for everyday purchases?
Yes. The card earns bonus points in several everyday categories, including dining, gas and EV charging, online groceries and select streaming services.
Is Chase Sapphire Preferred a good card for beginners?
It can be a good option for someone who is new to travel rewards but already has a strong credit profile and can comfortably manage the card. However, someone who wants a simple rewards system may prefer a cash-back card.
Keep reading
- What Is APR on a Credit Card and How Is It Calculated?
- How Do Credit Card Installment Plans Work?
- What Is Revolving Credit and How Does It Affect Your Credit Score?
- Best Credit Cards With No Annual Fee in 2026
Editorial note: Credit card offers, rewards, fees, benefits and eligibility requirements can change. The information in this review reflects the terms available at the time of writing. Always review the current issuer terms before applying. This article is for informational purposes only and does not constitute personalized financial advice.
