Quick facts
Time
10-minute read
Cost
$0 to $95 a year for the typical Chase starter pair
Potential value
a simple, flexible points setup with solid transfer partners
Best for
beginners deciding which bank program to build first
For years, the standard advice was simple: start with Chase. Get a Freedom card and a Sapphire card, learn the ropes, and branch out later.
That still works for a lot of people. But Chase has made real changes, and the competition has caught up in places. Here’s both sides, honestly.
From our own travels: Chase was the first program I really used. Since then I’ve held the Sapphire Preferred, the Sapphire Reserve, and Chase business cards, some more than once. I’m still in the Chase ecosystem, too: I’m about to product change a card into one of Chase’s Marriott cards.
The case for starting with Chase
1. The 5/24 timing logic
Chase is widely reported to decline most card applications from people who have opened five or more cards from any bank in the past 24 months. Chase doesn’t publish that rule. What its Sapphire Preferred page does say is: “We may also consider the number of cards you have opened and closed in determining your bonus eligibility” (Chase, checked Oct 6, 2026).
The takeaway: if you want Chase cards at all, get them before you open cards elsewhere. Our full 5/24 explainer, including how to count your own status, is coming soon.
2. The Freedom plus Sapphire combo
Chase’s starter setup is easy to understand and works well together:
- A no-annual-fee Freedom card for everyday earning. Chase lists the Freedom Unlimited at 1.5% on all other purchases, 3% on dining and drugstores, and 5% on travel through Chase Travel, with a $0 annual fee (Chase). The Freedom Flex adds 5% on up to $1,500 in rotating categories each quarter you activate, also with a $0 fee (Chase).
- A Sapphire card that unlocks transfers. Chase’s program agreement says you can combine points with your other eligible Ultimate Rewards cards (Chase Rewards Program Agreement), and Chase lists the Sapphire Preferred, Sapphire Reserve, and Ink Business Preferred as the cards that can transfer to partners (Chase).
So the Freedom “cash back” is really Ultimate Rewards points, and moving it to a Sapphire account makes it transferable.
3. Solid earn rates and a fair welcome offer
As of October 6, 2026, Chase lists the Sapphire Preferred at:
| Detail | Sapphire Preferred (checked Oct 6, 2026) |
|---|---|
| Welcome offer | 75,000 points after $5,000 in purchases in the first 3 months |
| Annual fee | $95 |
| Earning | 5x Chase Travel; 3x dining; 3x gas stations, EV charging, and vacation homes at top brands; 3x select streaming and online grocery (exclusions apply); 2x other travel; 1x everything else |
| Notable credit | Up to $100 a year in statement credits for hotels booked through Chase Travel |
Source: Chase Sapphire Preferred. Terms apply.
4. An easy program to learn
Ultimate Rewards has three clear options: cash back, Chase Travel, and transfers. Most transfers are 1:1, in 1,000-point increments, and Chase says most process by the next business day (Chase). Fewer moving parts is a real feature for beginners.
5. Useful domestic partners
Chase’s partner list includes United MileagePlus and Southwest Airlines Rapid Rewards, plus Air Canada Aeroplan, Air France-KLM Flying Blue, British Airways, Singapore, Virgin Atlantic, and others. On the hotel side: IHG, Marriott, World of Hyatt, and Wyndham (Chase Sapphire Preferred benefits, checked Oct 6, 2026). If you fly United or Southwest, that’s a practical advantage.
Tip
The “Chase first” logic is mostly about order, not loyalty. You can start with Chase and still end up with most of your points somewhere else later.
What changed (and why it matters)
Hyatt transfers are now 4:3
Hyatt was long one of the best reasons to collect Chase points. Chase’s Sapphire Preferred benefits page now says Ultimate Rewards points transfer to Hyatt at 4:3, so 1,000 Chase points become 750 Hyatt points. It adds that accounts opened before June 15, 2026 kept a 1:1 Hyatt rate only through September 30, 2026 (Chase, checked Oct 6, 2026). Chase’s Ink Business Preferred page also lists 4:3 to Hyatt starting October 1, 2026 (Chase). If you hold a different Chase card, check the rate shown when you log in.
That’s 25% fewer Hyatt points per transfer.
Bilt had been the easy Hyatt workaround at 1:1. Bilt’s Hyatt transfer page now says that edge ends when Bilt moves to 4:3 beginning January 1, 2027, the same ratio Chase Preferred uses (Bilt, checked Oct 6, 2026).
Chase Travel redemptions: Points Boost replaced the fixed bonus
Sapphire cardholders used to get a fixed boost on every Chase Travel booking. Chase replaced that with Points Boost starting June 23, 2025. Now Chase says points are worth $0.01 each through Chase Travel, and Points Boost offers can raise that to up to 1.5x on select hotels and flights for Sapphire Preferred cardholders, or up to 2x for Sapphire Reserve (Chase Sapphire Reserve offer terms, Chase Points Boost, checked Oct 6, 2026). Offers rotate, so there’s no guarantee for your trip.
There’s a transition period for some older points. Chase’s June 2025 announcement says Sapphire Reserve cardmembers who applied before June 23, 2025 can redeem points earned before October 26, 2025 at 1.5x on Chase Travel until October 26, 2027 (Chase Media Center).
The upshot: the portal is no longer a reliable “easy button.” Transfers matter more now.
The premium card got pricier
The Sapphire Reserve now lists a $795 annual fee (Chase, checked Oct 6, 2026). That’s not a casual upgrade for a beginner.
The competition got better
None of these beats Chase for everyone, but each beats it at something.
- Amex Membership Rewards. Strong on everyday categories: the Amex Gold lists 4x at restaurants worldwide (up to $50,000 a year) and 4x at U.S. supermarkets (up to $25,000 a year), with a $325 annual fee (Amex, checked Oct 6, 2026). Amex charges a small excise tax offset fee, $0.0006 per point up to $99, on transfers to U.S. airlines (Amex terms). Amex transfers to a range of airline and hotel programs, and its terms note that rates vary by partner, so check the current list in your Amex account before you count on one.
- Capital One miles. Simple earning: the Venture lists 2X miles on every purchase, a $95 fee, and 75,000 bonus miles after $4,000 in the first 3 months plus $300 for Capital One Travel stays in year one (Capital One, checked Oct 6, 2026). Its partner list leans international. JetBlue is the only U.S. airline, at 5:3, and there’s no Hyatt (Capital One).
- Citi ThankYou (Strata). The Strata Premier lists 3x on air travel, restaurants, supermarkets, and gas and EV charging for $95 a year, and its points transfer to American Airlines, a partner Chase doesn’t have (Citi, checked Oct 6, 2026). Check Citi’s page for the current welcome offer, since it changes.
- Bilt. Still the rent and mortgage play, and still 1:1 to United, Southwest, and Atmos Rewards (Alaska and Hawaiian). World of Hyatt is still 1:1 today, but Bilt’s own Hyatt transfer page says that ratio becomes 4:3 beginning January 1, 2027, matching the rate Chase Sapphire Preferred already uses (Bilt Hyatt transfer page, notice checked Oct 6, 2026; partner list still shows 1:1 on Bilt support, updated Sept 23, 2026). Bilt’s cards also earn up to 1.25X on rent and mortgage payments with no transaction fee (Bilt).
Watch Out
Transfer partners and ratios change. Chase Preferred is already at 4:3 to Hyatt, and Bilt says it will match that ratio on January 1, 2027. Pick a program for the partners you’ll actually use, and check the ratio again before every transfer.
So who should still start with Chase?
Chase is still a strong first program if you:
- Want Chase cards at some point. The 5/24 timing alone makes Chase-first sensible.
- Fly United or Southwest, or want a mix of domestic and international airline partners.
- Want simplicity. One no-fee card plus one $95 card covers most beginners.
Who might start somewhere else?
You might look elsewhere first if you:
- Are already at 5/24 or over. Chase may be off the table for now.
- Mainly want Hyatt. Bilt still transfers 1:1 through the end of 2026, then matches Chase Preferred at 4:3 on January 1, 2027. After that, Hyatt alone is not a lasting reason to pick Bilt over Chase.
- Want to earn on rent or a mortgage without fees (Bilt).
- Spend heavily on dining and groceries (Amex).
- Fly American Airlines (Citi).
- Want one flat rate on everything (Capital One).
From our own travels: if I were starting from zero today, I’d still start with Chase, mostly because of 5/24 and the kind of travel my wife and I do. But honestly, I don’t think it’s as good a program as it used to be. That’s my own call, not a recommendation for you.
Bottom Line
Chase is still a great place to start, mostly because of 5/24 timing and an easy Freedom plus Sapphire setup. It’s no longer the automatic answer for maximum value: with Hyatt at 4:3 on Chase Preferred (and the same 4:3 coming to Bilt on January 1, 2027), Points Boost replacing fixed portal value, and strong rivals, the best long-term program depends on how you spend and where you travel.
What to read next
New to all of this? Start with Credit Card Rewards for Travel: A Quick Beginner’s Guide. It covers the basics in about eight minutes.
The Points Quest
Points Quest is educational content only, not personalized financial advice. Offers, earn rates, fees, and transfer ratios were checked on the issuers’ and programs’ sites on October 6, 2026 and can change at any time; terms apply. Chase’s 5/24 rule is not published by Chase. Advertiser Disclosure