Quick facts
Time
3 months to earn the bonus; 10 minutes to apply
Cost
$95 annual fee
Potential value
75,000 points after $5,000 in 3 months, about $1,125 at our 1.5-cent estimate, plus a $100 yearly Chase Travel hotel credit
Best for
a first travel card for people under Chase’s 5/24 limit who spend on dining, travel, and gas
The Chase Sapphire Preferred has been the default “first travel card” for years. In 2026 Chase changed it more than at any point since launch: new 3x categories, a bigger hotel credit, a Global Entry credit, travel-portal redemptions that now depend on Points Boost, and World of Hyatt transfers at 4:3 instead of 1:1. This review covers what the card does now, what changed, and who should still get it.
Every number below was checked Oct 14, 2026 on Chase’s own Sapphire Preferred card page, its offer details, and the Sapphire Preferred benefits page on chase.com.
Card review · Details
Chase Sapphire Preferred
Source: Chase card page and offer details, checked Oct 14, 2026.
The welcome offer
Chase’s public offer is 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. Chase says to allow 6 to 8 weeks after you qualify for the points to post, and the account must be open and not in default.
At our estimate of 1.5 cents per point (an estimate, not a Chase figure), 75,000 points are worth about $1,125. Minus the $95 fee, that is roughly $1,030 in first-year value from the bonus alone.
Watch Out
Chase’s offer details say “offers may vary depending on where you apply, for example online or in a branch, and can change over time.” A targeted offer in your Chase login, in a branch, or from a referral may be higher or lower than the public one. Compare before you apply.
Who can get the bonus
Chase’s current wording, from the card page:
- “This credit card is unavailable to you if you currently have this card open.”
- “The new cardmember bonus may not be available to you if you previously held this card or received a new cardmember bonus for this card.”
- “We may also consider the number of cards you have opened and closed in determining your bonus eligibility.”
That last line is where 5/24 comes in. Chase doesn’t publish a number, but the widely reported guideline is that if you opened five or more personal credit cards from any bank in the last 24 months, you will likely be denied. If you are under that line, use your Chase applications first. Our Why start with Chase guide walks through the order.
How you earn points
Per Chase’s card page and offer details (checked Oct 14, 2026):
| Category | Points per $1 |
|---|---|
| Chase Travel (flights, hotels, rental cars, cruises, activities, and tours booked through Chase) | 5x |
| Dining, including takeout and eligible delivery | 3x |
| Gas stations and EV charging (new) | 3x |
| Vacation homes at top brands like Airbnb and Vrbo (new) | 3x |
| Online grocery (excluding Target, Walmart, and wholesale clubs) | 3x |
| Top streaming services | 3x |
| Other travel | 2x |
| Everything else | 1x |
Limited-time partner earning: 5x on Lyft through September 30, 2027, and 5x on eligible Peloton equipment and accessory purchases over $150 through December 31, 2027 (maximum 25,000 points).
Tip
The new 3x on gas and EV charging is the biggest everyday change. If your car spending was going on a 1x card, moving it here adds up fast.
Credits and perks
- $100 Chase Travel hotel credit. Up to $100 in statement credits each account anniversary year for hotel stays purchased through Chase Travel. Chase labels this an “enhanced” feature. Purchases that use the credit don’t earn points. Chase’s terms say the first $100 of Chase Travel hotel purchases each year will not earn rewards points.
- Global Entry, TSA PreCheck, or NEXUS credit. One statement credit of up to $120 every four years for the application fee (new).
- DashPass. A complimentary DashPass membership (Chase calls it a $120 value) for 12 months when you activate by December 31, 2029, plus a $10 monthly promo on groceries, retail orders, and more through December 31, 2029.
- Apple TV. A complimentary year of Apple TV (Chase lists a $180 value) when you activate by December 31, 2026.
- No foreign transaction fees.
Watch Out
The hotel credit only works on hotels booked through Chase Travel. Compare the Chase Travel price with booking direct, since direct bookings usually earn hotel points and elite credit and portal bookings often don’t.
Travel and purchase protections
This is where the Preferred has always beaten most $95 cards. From Chase’s card page (checked Oct 14, 2026):
- Auto rental coverage: decline the rental company’s collision insurance and pay with the card. Coverage is primary, up to $60,000 for theft and collision damage on most vehicles with an MSRP of $125,000 or less. (For New York residents, coverage inside the U.S. is secondary to personal auto insurance.)
- Trip delay reimbursement: if common-carrier travel is delayed more than 12 hours or requires an overnight stay, up to $500 per covered traveler for unreimbursed expenses like meals and lodging.
- Trip cancellation and interruption: up to $10,000 per covered traveler and $20,000 per trip for prepaid, nonrefundable travel expenses.
- Baggage delay: up to $100 a day for up to 5 days when bags are delayed over 6 hours.
- Lost luggage: up to $3,000 per covered traveler.
- Travel accident insurance: up to $500,000.
- Emergency evacuation and transportation (new): up to $100,000 for medical services and transportation on a trip 100 miles or more from home.
- Purchase protection: 120 days, up to $500 per item. Extended warranty: an extra year on eligible U.S. warranties of three years or less.
Benefits come with conditions. Chase points cardholders to the Guide to Benefits for the full terms.
Redeeming points: transfers and Points Boost
Transfer partners
Chase’s benefits page lists these Ultimate Rewards partners for the Sapphire Preferred:
- Airlines: Aer Lingus AerClub, Air Canada Aeroplan, Air France-KLM Flying Blue, British Airways Executive Club, Iberia Plus, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club.
- Hotels: IHG One Rewards, Marriott Bonvoy, World of Hyatt, Wyndham Rewards.
Chase says points transfer “to most travel partners at a rate of 1:1.” World of Hyatt is the exception: 4:3, so 1,000 Chase points become 750 Hyatt points.
Reconciling the Hyatt ratio
Our Why start with Chase guide already says Sapphire Preferred transfers to Hyatt at 4:3. Chase’s page, rechecked Oct 14, 2026, still says exactly that, and adds: “If you opened your card account prior to June 15, 2026, your points will transfer to World of Hyatt at a rate of 1:1 through September 30, 2026.” That window has now closed, so 4:3 is the rate for every Sapphire Preferred account today, old or new. The two pages agree.
Bottom Line
Hyatt is still a Chase partner, but at 4:3 it costs a third more Chase points per Hyatt point than it used to. United, Southwest, Aeroplan, and the other 1:1 partners are now the cleaner uses of Chase points.
Points Boost and Chase Travel
Points Boost replaced the old fixed portal value. Chase’s benefits page says that with Points Boost, Sapphire Preferred points “are worth up to 1.5x on top-booked hotels and flights with select airlines through Chase Travel,” on a rotating basis. Chase’s Points Boost guide says Points Boost launched in June 2025, and its example compares Boost prices with a “1:1 rate” for bookings that aren’t boosted.
In practice: a boosted booking can get you up to 1.5 cents per point; a regular Chase Travel booking gets you 1 cent. Chase’s rewards terms also list cash, gift cards, and pay-with-points options, with values that vary.
Tip
Look for the Points Boost label in Chase Travel search results, then compare that price with transferring to a partner. If neither beats about 1.5 cents per point, consider holding your points.
Pros and cons
Pros
- 75,000-point public offer with a $95 fee.
- New 3x on gas and EV charging and on vacation homes, on top of dining, streaming, and online grocery.
- $100 hotel credit plus a $120 Global Entry, TSA PreCheck, or NEXUS credit.
- Primary rental car coverage and strong trip delay and cancellation coverage for a $95 card.
- Flexible points with 1:1 transfers to United, Southwest, Aeroplan, and more.
Cons
- Hyatt transfers are now 4:3.
- Regular Chase Travel redemptions are 1 cent per point unless a Points Boost offer applies.
- The hotel credit only works through Chase Travel.
- Chase’s opened-and-closed cards rule (5/24) can block you if you’ve opened several cards recently.
- No lounge access.
Who it’s for, and who it’s not for
Good fit:
- New to points and under 5/24.
- Spend a few hundred dollars a month on dining, gas, and travel.
- Want one card with good travel insurance and flexible points.
- Plan to pair it later with a no-fee Chase card or a Chase business card.
Not a good fit:
- Already at or over 5/24 (look at the best welcome bonuses from other banks instead).
- Mainly want Hyatt stays.
- Pay rent and want points on it: see the Bilt Rewards guide and Bilt Rent Day.
- Want simple cash value: compare the Bank of America Premium Rewards and Rakuten stack.
- Might carry a balance. Interest will cost more than the points are worth.
Sapphire Preferred vs. Sapphire Reserve vs. Venture X
| Sapphire Preferred | Sapphire Reserve | Capital One Venture X | |
|---|---|---|---|
| Public offer | 75,000 points after $5,000 in 3 months | 100,000 points after $6,000 in 3 months | 75,000 miles after $4,000 in 3 months |
| Annual fee | $95 | $795 | $395 |
| Headline earning | 5x Chase Travel; 3x dining, gas, streaming, online grocery | 8x Chase Travel; 4x flights and hotels booked direct; 3x dining | Double miles on every purchase, more through Capital One Travel |
| Big credits | $100 Chase Travel hotel credit | $300 annual travel credit, plus many lifestyle credits | $300 Capital One Travel credit; 10,000 anniversary miles |
| Points Boost / portal | Up to 1.5x | Up to 2x | Not applicable |
Sources: Chase Sapphire Reserve and Capital One Venture X, checked Oct 14, 2026.
The short version: the Preferred is the low-fee starter. The Reserve costs $700 more a year and only wins if you will use its travel credit, lounges, and lifestyle credits. The Venture X sits in between at $395 with a $300 travel credit and 10,000 anniversary miles. If you’re only getting one Chase card, the Preferred is still the easier yes. For picks by traveler type, see our best travel credit cards hub.
FAQ
What is the Chase Sapphire Preferred welcome offer right now?
75,000 points after $5,000 in purchases in the first 3 months, per Chase’s public card page checked Oct 14, 2026. Targeted offers may differ.
What is the annual fee?
$95.
Is the hotel credit $50 or $100?
$100. Chase’s card page now lists up to $100 in statement credits each account anniversary year for hotels booked through Chase Travel, and marks it as an enhanced feature.
What is the Chase Sapphire Preferred transfer ratio to Hyatt?
4:3. Chase says 1,000 Ultimate Rewards points become 750 World of Hyatt points. Accounts opened before June 15, 2026 kept 1:1 only through September 30, 2026.
Does the Sapphire Preferred have primary rental car insurance?
Yes. Chase says the auto rental coverage is primary, up to $60,000 for theft and collision damage on most vehicles with an MSRP of $125,000 or less. For New York residents it is secondary inside the U.S.
Can I have the Sapphire Preferred and Sapphire Reserve at the same time?
Chase’s current pages say each card is unavailable if you currently have that same card open, and that the bonus may not be available if you previously held that card or received its bonus. They don’t mention the other Sapphire card. Read the offer details on the day you apply.
Does 5/24 apply to the Sapphire Preferred?
Chase says it may consider the number of cards you have opened and closed. It doesn’t publish a number. The widely reported guideline is five new personal cards in 24 months.
How much are Sapphire Preferred points worth?
Our estimate is about 1.5 cents each when transferred well. Through Chase Travel, they are worth up to 1.5 cents on Points Boost offers and 1 cent otherwise.
Bottom line
Bottom Line
The Sapphire Preferred is still a strong first travel card in 2026. The 75,000-point offer, the new 3x on gas, the $100 hotel credit, and its travel protections all beat what most $95 cards offer. The Hyatt 4:3 ratio and the end of a fixed portal value make it less of a slam dunk than it was, so check your 5/24 status first, then apply if you’ll use the categories and transfer partners.
The Points Quest
Points Quest is educational content only, not personalized financial advice. Offer, fee, earning, credit, protection, and transfer details were checked on creditcards.chase.com and chase.com on October 14, 2026 and can change at any time. Point values are our estimates, not Chase figures. Publicly linked offers may differ from targeted offers. Advertiser Disclosure