Is the Chase Sapphire Preferred worth it?
Chase Ultimate Rewards · $95 annual fee
Source date October 29, 2026Verified against the issuer · Oct 20263 recent changes to this card : newest took effect Jun 15, 2026, including 2 cuts already in effectRead them
Took effect Oct 26, 2025
In effectStandard Chase Travel redemptions are 1 cent per point. Points Boost raises value on selected bookings. Legacy portal value also depends on the card's eligibility and which points qualify; check your account's quote. We do not assume a universal 1.25-cent floor.
SourceTook effect Jun 15, 2026
In effectNew and existing cardmembers received the $100 hotel-credit cap, 3x gas/EV and eligible vacation homes, application-fee credit and added protections on June 15, 2026. The 10% anniversary bonus ended for applications on or after June 15; earlier applicants earn it on eligible purchases through October 1, 2026, paid by January 31, 2027. Terms checked September 7, 2026; confirm account allowance and offer eligibility.
SourceTook effect Jun 15, 2026
In effectSapphire Preferred transfers to Hyatt at 4:3 (1,000 Chase points become 750 Hyatt points). Chase applied that rate to new applicants on June 15, 2026. Accounts opened before June 15, 2026 kept 1:1 through September 30, 2026; 4:3 applies to them from October 1, 2026. Ink Business Preferred moved to 4:3 on October 1, 2026. Other Chase cards can differ; confirm your card's displayed rate before transferring. Hyatt award prices are in Hyatt points, not Chase points.
Source~$755Estimated first-year value
Clear first-year win: about $755 in value after the fee, and it doesn't cost you to keep.
A starting option in our model: a low fee and flexible points, with partner value depending on the award you book. The $100 credit is portal-only, so don't count it as a clean fee offset.
We earn nothing from this one. It's a direct link to the issuer. Read the current offer and compare the costs with your needs before applying. See exactly how we picked it.
This estimate uses the same math whether we get paid or not.
- Annual fee
- $95
- Signup bonus
- 75,000 ptsafter $5,000 in 3 months
- Foreign tx fee
- None
- Credit needed
- Approval and bonus eligibility depend on the issuer; no score guarantees approval
How we scored it5 dimensions
Five dimensions, each scored 0–100 by a formula we disclose. These describe estimated value, point flexibility, credit usability, and simplicity. They are model estimates, not customer ratings.
- First-year value
~$755 of value year one, scored against a $1,000 ceiling.
- Keeps paying after year one
Credits beat the fee by ~$5/yr, so it's free to hold.
- Credits our model counts
Our model counts about 29% of the $340 in credits as usable.
- Points flexibility
Chase Ultimate Rewards points: how many good places they can go. (Program-level, not card-specific.)
- Simplicity & low cost
Docked for: $95 fee.
The honest pros and cons
Advantages
- Low $95 fee with a flexible 75,000-point bonus after $5,000 spend in 3 months.
- Transfer partners can provide value, but compare the award you can book with its cash price.
- 3x dining and gas/EV charging, plus eligible online groceries, vacation homes and select streaming.
- 2x on other travel; eligible Chase Travel bookings earn 5x, except hotel purchases covered by the credit.
What to weigh against it
- The $100 hotel credit only works through the Chase Travel portal, not direct bookings.
- 1x on non-bonus spend trails flat-rate cards that earn more everywhere.
- We value standard redemptions at 1 cent per point. Points Boost and legacy portal values require an eligible booking or eligible points.
The mistake people make: Treating the $100 hotel credit as a no-strings fee discount when it's locked to the Chase Travel portal.
Make the math yoursadjust the credits
Our estimate starts with our model's credit defaults. Tell us which credits you'd actually use and we'll re-run year one on your answers.
Estimated first-year value
$755
That's a clear win for how you'll use it.
Estimated annual value after year one (no bonus): +$5/yr : rewards and credits keep it ahead of the fee.
Enter eligible spending only: exclude hotel charges covered by the Chase Travel credit, which earn no points. Our broad-category estimate uses 2x for travel and 1x for groceries and online shopping. It does not assume qualifying portal bookings, vacation homes, online groceries, promotional partners or an eligible legacy anniversary bonus.
Which credits will you actually use?
$100 annual hotel credit
$100/yrUp to $100 per account anniversary year for Chase Travel hotel bookings. This is the total cap, not an extra $100 on top of the old $50. Check your remaining account allowance; credited purchases do not earn points. Compare the portal price with booking direct.
$120 DoorDash non-restaurant promos ($10 monthly)
$120/yrDashPass membership required. Up to $10 off one qualifying non-restaurant order monthly; unused discounts expire. DashPass must be activated by December 31, 2029. Our model excludes these discounts by default.
$120 DashPass membership
$120/yrIssuer-stated value for 12 months. Activate by December 31, 2029. Our model excludes membership value by default.
Starting from our model's credit defaults. Tap to make it yours. Bonus and rewards valued at a conservative 1c/point.
We value Chase Ultimate Rewards at a conservative 1c/point (a motivated redeemer can reach ~2c). We use 1c for cash or standard Chase Travel redemptions. Points Boost applies to selected bookings; legacy portal values depend on the card and eligible points. Neither is assumed here. 2c is an editorial transfer target, not a guaranteed rate. Chase baseline and transfer terms checked September 7, 2026; other valuations were not re-reviewed. See how we value points.
Is the offer any good right now?
Compare the recorded offer and our bonus value estimates below.
Recent typical offer
75,000 points after $5,000 spend in 3 months
Offers change constantly: this is a recent typical bonus, not a guarantee. Always verify the live offer on the issuer's site before applying.
Stronger than 64% of the 67 cards we track, by bonus value at our conservative baseline.
We've tracked this card's offers since 2026-06-06. As history builds, we'll flag here when the bonus beats what we've seen.
Both bars are our planning estimates for 75,000 points. Actual redemption values can differ.
at 2¢/pt: our achievable estimate
at 1¢/pt: our conservative planning estimate
That's $750 (50%) between our estimates, with the percentage measured against the achievable estimate. The card-value calculations on this page use our planning baseline.
Chase's 5/24 rule
Chase typically won't approve you if you've opened 5 or more credit cards across all banks in the past 24 months. Check your count before you apply.
Is this card for you?
Get it if
Someone who dines out, wants flexible points, and will spend a little time learning transfer partners.
Skip it if
You won't book through transfer partners and just want flat cash back with no annual fee.
Not quite right? The closer fit
Chase Freedom Unlimited
If you won't use transfer partners, its $0 fee and higher flat earn rate make more sense.
What you actually get
- Up to $100 in Chase Travel hotel credits per account anniversary year; credited purchases earn no points
- 5x on eligible Chase Travel bookings; 3x on dining, gas/EV charging, eligible online groceries, select streaming and eligible vacation homes; 2x on other travel; 1x elsewhere
- Online groceries exclude Target, Walmart and wholesale clubs
- Vacation-home 3x applies at eligible brands such as Airbnb and Vrbo; confirm eligibility before booking
- Up to $120 for one Global Entry, TSA PreCheck or NEXUS application every four years; excluded from annual credit math
- One year of Apple TV, a $180 issuer-stated value, when activated by December 31, 2026; excluded from annual credit math
- At least 12 months of DashPass when activated by December 31, 2029, plus up to $10 off one qualifying non-restaurant order monthly; unused discounts expire
- 5x on eligible Lyft purchases through September 30, 2027; 5x on eligible direct Peloton equipment/accessory purchases over $150, up to $5,000 spend through December 31, 2027
- Emergency evacuation and transportation, auto rental, and trip protections are subject to policy terms and exclusions
- No foreign transaction fees
- Separately sourced transfer context, reviewed September 7, 2026: Hyatt transfers are 4:3 from October 1, 2026 (1,000 Chase points become 750 Hyatt points). See the linked Chase transfer notice; this was not re-verified in the October 29 offer review.
How it earns
Enter eligible spending only: exclude hotel charges covered by the Chase Travel credit, which earn no points. Our broad-category estimate uses 2x for travel and 1x for groceries and online shopping. It does not assume qualifying portal bookings, vacation homes, online groceries, promotional partners or an eligible legacy anniversary bonus.
Rates with merchant or booking restrictions apply only to qualifying purchases. Our broad-category spend estimates exclude those rates. Exclude purchases covered by credits when the issuer says they earn no rewards.
Where the points actually shine
These are the airlines and hotels this card's points move to. You transfer points out of Chase Ultimate Rewards into the partner's own program, then book an available award there. Compare the actual award cost, fees, and portal price before transferring. “1:1” means 1,000 of your points become 1,000 of theirs. The full guide for Chase Ultimate Rewards.
Sapphire Preferred transfers to Hyatt at 4:3 (1,000 Chase points become 750 Hyatt points). Chase applied that rate to new applicants on June 15, 2026. Accounts opened before June 15, 2026 kept 1:1 through September 30, 2026; 4:3 applies to them from October 1, 2026. Ink Business Preferred moved to 4:3 on October 1, 2026. Other Chase cards can differ; confirm your card's displayed rate before transferring. Hyatt award prices are in Hyatt points, not Chase points.
Source date 2026-09-07 · Issuer source
Best domestic Star Alliance availability and Excursionist Perk free stopover on round-trips.
Books most Star Alliance partners with a free stopover; no carrier fuel surcharges on many routes.
Monthly Promo Rewards and frequent Chase transfer bonuses cut Europe awards 25%+.
Cheap ANA round-trip business to Japan and short Delta hops; watch surcharges on VS metal.
See how it stacks up
Compare recorded fees, programs, and terms side by side. Winners are withheld while any card's terms are under re-review.
Honest answers
Is the Chase Sapphire Preferred worth the $95 annual fee?
How much is the Chase Sapphire Preferred signup bonus really worth?
Should I keep the Chase Sapphire Preferred after year one?
Where can I check the Chase Sapphire Preferred offer?
The honest playbook
Before deciding on a card, consider interest, spending requirements, and how you would use the benefits.
Ready to decide?
Offers change often, so always confirm the current bonus and fee on the issuer's own site before applying.
We earn nothing from this one. It's a direct link to the issuer. Read the current offer and compare the costs with your needs before applying. See exactly how we picked it.
Not sure it fits your trip? Run the optimizer
Sources: how we know this7 issuer sources
These sources support the recorded figures and estimates. Offers change, so always confirm the current terms on the issuer's own page.
How we make money, honestly: we may earn a commission if you apply for a card through one of our links, and a small commission if you book a hotel through one of our links. Both at no cost to you. Our ranking never depends on payout fields. A “pay cash” verdict earns us nothing by itself; if you then book a hotel through one of our links, we may earn a commission. Offers and terms change constantly; always confirm current details on the provider's site before booking.