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The Chase Sapphire Preferred card has been one of the most dependable and valuable Chase card products on the market for well over a decade. The card offers lucrative bonus categories and flexible redemption options, all for a reasonably low annual fee, which is one of the reasons it remains so popular.
However, in summer 2025, the card changed slightly, taking away its favored 1.25-cent point Chase Travel℠ redemption rate and replacing it with Points Boost, where certain airlines and hotel redemptions (mostly premium hotels and business class flights) can incur slightly higher values of 1.5 cents or 1.75 cents per point. However, all other Chase Travel redemptions have a value of 1 cent per point. Recently, Chase also ended its transfer partnership with Emirates Skywards.
Although these changes aren’t great news, you can still redeem your Chase Ultimate Rewards points for high value if you transfer them to the bank’s remaining 13 transfer partners. Despite the changes, we think the card remains well worth it — here’s why.
The basics
Chase Ultimate Reward points are a valuable currency, and you can earn a lot of them from the Chase Sapphire Preferred card’s generous welcome bonus and high bonus category rates, such as 5X on Chase Travel purchases and 3X on dining.
It’s also easy to justify the $95 annual fee if you use the $50 Chase Travel hotel credit and sign up for the DoorDash benefits (a $120 value). If you spend a lot on travel and dining, you can easily earn a lot of points fast.
Check out the card’s stats below:
Current welcome bonus: 75,000 Chase Ultimate Rewards points after spending $5,000 in the first 3 months.
Annual fee: $95 Rewards:
5X points on Chase Travel purchase (excluding hotel purchases that qualify for the $50 Annual Chase Travel Hotel Credit)
5X points on Lyft rides through September 30, 2027
5X points on Peloton equipment and accessory purchases over $150 through December 31, 2027
2X on other travel purchases
3X points on dining
3X points on online grocery purchases
3X points on select streaming services
1 point per dollar spent on everything else
Foreign transaction fees: None
Other benefits:
Earn 10% of your total spend for the year in bonus points on each account anniversary
$50 in statement credits each account anniversary year for hotel stays purchased through Chase Travel
Complimentary DashPass membership for 12 months, which includes $0 delivery fees and reduced service fees on DoorDash orders if you activate by December 31, 2027
A host of travel protections, including trip cancellation and interruption insurance, baggage delay insurance, travel and emergency assistance, primary car rental coverage, and trip delay reimbursement
Purchase protection and extended warranty
A collection of travel partners you can transfer points to at a 1:1 ratio
The pros and cons
Like all credit cards, the Chase Sapphire Preferred has its advantages and disadvantages:
Why we love the Chase Sapphire Preferred
Low annual fee: At just $95 per year, it’s easy to justify getting (and keeping) the card.
Solid bonus categories: If you’re someone who spends a lot on travel and dining, this card makes it easy to earn points quickly, especially if you tend to book through Chase Travel.
Anniversary point bonus: If you’re on the fence about hanging onto the card for another year, the anniversary 10% points bonus sweetens the deal.
Flexible rewards: Transfer points to 13 different partners or use them to book travel in Chase Travel.
Things to consider with the Chase Sapphire Preferred
Lacks travel and lifestyle benefits: This card doesn’t offer airport lounge access or elite status. It doesn’t offer any statement credits beyond the $50 annual hotel credit in Chase Travel.
Must book in Chase Travel for maximum bonus points: To earn the most bonus points on travel, you’ll have to book travel in Chase Travel. General travel purchases only earn 2X points.
Need a good to excellent credit score for approval: You likely won’t be approved for this card if you don’t have a high credit score, so beginners will need to start with another card.
Earning points with the Chase Sapphire Preferred
Where you have the most potential to earn a lot of points is through Chase Travel bookings using your Chase Sapphire Preferred card. 5X points per dollar spent can add up quickly, and you’ll have a large stash of points in no time. If you can take advantage of the temporary 5X on categories like Peloton and Lyft, you can also add to your points balance. Likewise, if you tend to dine out frequently or order delivery, the 3X bonus on dining can help boost your balance of points.
That said, if you usually spend a lot on travel outside of Chase Travel, you’ll only earn 2X points per dollar spent, which feels a little low, especially considering cards like the Capital Venture X offer 2X points on all spend, or the Amex Green card, which has a reasonable, $150 annual fee and gives you 3X points on travel spend (American Express also has numerous 1:1 transfer partners).
Redeeming points with the Chase Sapphire Preferred
One of the best things about Chase Ultimate Rewards points is that they’re flexible. You can use them to book travel in Chase Travel, or transfer them at a 1:1 ratio to 13 different travel partners.
Redeeming in Chase Travel
Chase Travel redemptions used to be more valuable, as you could redeem for 1.25 cents per point. If you can manage to redeem for airlines and hotels with Points Boost, you’ll come out on top, getting a value of 1.5-1.75 cents per point. However, for all other redemptions, you’ll get 1 cent per point.
Transferring Chase Ultimate Reward points
You can get the most out of your Chase points by transferring them. Chase has 10 airline partners and 3 hotel partners you can transfer points to at a 1:1 ratio.
These are the 13 Chase travel partners:
Airline Travel Partners
Aer Lingus AerClub
Club Iberia Plus
Hotel Travel Partners
Some partners are more valuable than others, but you’ll almost always come out on top when transferring points. In most cases, you’ll get at least 2 cents per point, but we’ve had instances where we’ve transferred points and gotten a value as high as 14 cents per point.
You can often get the most value by transferring Chase points to airline loyalty programs, such as Avios and Flying Blue, or hotel programs like World of Hyatt. And it’s always a good idea to keep an eye out for transfer bonuses (20-30%), which means you’ll end up with more points.
Before transferring to airlines, do some searches on point.me for airline awards to see which programs offer you the best deal.
Other redemptions
You can also redeem Chase Ultimate Rewards points for the following:
Amazon purchases: 0.8 cents per point
Statement credits: 1 cent per point
Gift cards: 1 cent per point
However, we suggest aiming for a higher value for your points. After all, if you could get up to 14 cents per point by transferring them to an airline, getting 0,8 cents per point for Amazon purchases pales in comparison.
Who this card is great for
The Chase Sapphire Preferred is the perfect card for spenders who want to earn Chase Ultimate Rewards points without having to pay a hefty annual fee. If you don’t want to bother with a lot of statement credits and don’t need travel and lifestyle perks but still want to earn a lot of points and transfer them to airlines and hotels, this card could be ideal.
The card is most useful for those who plan to book through Chase Travel, because that’s where earning the 5X bonus points is possible. Likewise, if you tend to spend a lot on dining, food delivery, online groceries, and streaming, make sure to charge these purchases to your Chase Sapphire Preferred.
Comparing the Chase Sapphire Preferred vs. Sapphire Reserve
The Chase Sapphire Preferred and the Chase Sapphire Reserve are both personal credit cards, but these two personal Sapphire products couldn’t be more different. The Preferred is a more basic card with a low annual fee and solid earning potential, while the Reserve is a premium card with a high annual fee and luxury perks.
Basically, you’ll get a lot more with the Reserve, but you’ll also pay $700 more annually for these additional benefits.
Below, we’ll compare and contrast these two Chase Sapphire cards:
| Benefit | Chase Sapphire Preferred card | Chase Sapphire Reserve card |
|---|---|---|
| Welcome Bonus | 75,000 Chase Ultimate Rewards points after spending $5,000 in the first 3 months. | Earn 125,000 pointsafter spending $6,000 in purchases in the first 3 months. |
| Annual fee | $95 | $795 |
| Earning structure | 5X points on Chase Travel purchase (excluding hotel purchases that qualify for the $50 Annual Chase Travel Hotel Credit)5X points on Lyft rides through September 30, 20275X points on Peloton equipment and accessory purchases over $150 through December 31, 20272X on other travel purchases3X points on dining, streaming services, and online grocery purchases1 point per dollar spent on everything else | 8X points on Chase Travel Purchases10X Peloton equipment and accessory purchases over $150 through December 31, 20275X points on Lyft rides through September 30, 20274X points on flights and hotels booked directly3X points on dining worldwide1x points on everything else |
| Reward potential | Redeem for up to 1.75 cents per point on Chase Travel (using Points Boost) or transfer to 13 travel partners at a 1:1 ratio | Redeem for up to 2 cents per point on Chase Travel (using Points Boost) or transfer to 13 travel partners at a 1:1 ratio |
| Statement credits | $50 Chase Travel hotel credit | $300 travel credit$500 credit for stays with The Edit $300 dining credit$250 in Apple TV+ and Apple Music subscriptions$120 DashPass Membership$300 in DoorDash promos$300 in StubHub credits$120 in Peloton credits$120 in Lyft credits$250 credit for select Chase Travel hotels (in 2026) |
| Perks & Benefits | 10% anniversary bonus of the points you earned that yearComplimentary DashPass membership for 12 months, which includes $0 delivery fees and reduced service fees on DoorDash orders if you activate by December 31, 2027Travel and purchase protections | IHG One Rewards Platinum Elite statusAccess to Chase Sapphire LoungesPriority Pass Select MembershipTravel and purchase protections |
| Foreign transaction fees | None | None |
Wrap up
Simply put, the Chase Sapphire Preferred is an easy choice if you want to earn Chase Ultimate Rewards points but aren’t interested in all the bells and whistles of a high-annual-fee card. The card features decent earning and bonus rates, with many options for redeeming your points — and you’ll only pay $95 a year.
