The beauty of the Chase Sapphire Preferred® Card (see rates and fees) is that it provides so much value without having a massive annual fee. And in June 2026, it added more value with the addition of new spending categories, statement credits and a new travel insurance perk.
The card earns Chase Ultimate Rewards® points, which you can use to book everything from budget hotels to luxury flights. Other perks, like an annual hotel credit, primary rental car insurance and partner benefits make the Chase Sapphire Preferred worth keeping year after year.
On top of all that, new cardholders can earn a heightened welcome bonus: 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
The Chase Sapphire Preferred® Card packs a punch for a $95 annual fee card, offering annual travel credits, comprehensive travel protections, flexible rewards and more.
- You can transfer rewards to all of Chase's travel partners including World of Hyatt, Southwest Rapid Rewards and many more
- Long list of travel and shopping protections
- Annual Chase Travel hotel credit
- Has an annual fee
- Requires a high credit score
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase TravelSM, 3x on dining, 3x on vacation homes, 3x on gas & EV charging, 3x on top streaming services and online groceries (excluding Walmart, Target, and wholesale clubs), 2x on all other travel purchases, 1x on all other purchases
- Earn up to $100 in statement credits each account anniversary year for hotel stays through Chase Travel
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get a year of complimentary Apple TV when activated by December 31, 2026 - a value of $156.
- Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
- Receive one statement credit of up to $120 every four years as reimbursement for the application fee charged to your card for a Global Entry, TSA Precheck® or NEXUS application.
- Transfer points to leading airline and hotel loyalty programs
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
8 key Chase Sapphire Preferred benefits
Transfer points to travel partners
The Chase Sapphire Preferred allows you to transfer Ultimate Rewards® points to airline or hotel partners at a 1:1 ratio (unless noted), including the following loyalty programs:
Chase Ultimate Rewards® transfer partners
| Chase transfer partner | Transfer ratio for Chase Sapphire Reserve® and Sapphire Reserve for BusinessSM cards | Transfer ratio for Chase Sapphire Preferred® Card and Ink Business Preferred® Credit Card |
|---|---|---|
| Aer Lingus AerClub | 1:1 | 1:1 |
| The British Airways Club | 1:1 | 1:1 |
| Flying Blue (Air France and KLM) | 1:1 | 1:1 |
| Iberia Club | 1:1 | 1:1 |
| JetBlue TrueBlue | 1:1 | 1:1 |
| Singapore Airlines KrisFlyer | 1:1 | 1:1 |
| Southwest Airlines Rapid Rewards | 1:1 | 1:1 |
| United MileagePlus | 1:1 | 1:1 |
| Virgin Atlantic Flying Club | 1:1 | 1:1 |
| Air Canada Aeroplan | 1:1 | 1:1 |
| IHG One Rewards | 1:1 | 1:1 |
| Marriott Bonvoy | 1:1 | 1:1 |
| World of Hyatt | 1:1 | 4:3 |
| Wyndham Rewards | 1:1 | 1:1 |
With the recent devaluation of World of Hyatt's transfer ratio, new cardholders will get less value transferring Chase points to the hotel program. Existing cardholders have until Oct. 1, 2026, to access Hyatt transfers at the previous rate, before the devaluation takes effect.
Despite the devaluation, redeeming points with a Chase travel partner can still be an excellent deal. For example, you can fly one-way in business class from a handful of U.S. cities to Ireland on Aer Lingus for 50,000 to 60,000 points (plus taxes and fees). These flights typically cost $3,000+.
Use points to pay for Chase Travel bookings
You can cash out Chase points for 1 cent each as a statement credit or direct deposit. However, if you use those points for Chase Travel℠ bookings, Sapphire Preferred cardholders could potentially earn more value.
Boost the value of certain Chase credit cards
If you have another Chase credit card that also earns Ultimate Rewards® points, you can transfer the points to your Sapphire Preferred card and take advantage of Chase's Points Boost feature. You can actually combine points from several Chase cash-back credit cards, including:
- Chase Freedom Flex®
- Chase Freedom Unlimited® (see rates and fees)
- Ink Business Cash® Credit Card (see rates and fees)
- Ink Business Unlimited® Credit Card (see rates and fees)
With the Sapphire Preferred, Points Boost unlocks Chase travel redemptions of up to 1.5 cents per point. When you use Chase points to pay for travel booked through Chase Travel℠, you'll receive up to 1.5 cents per point for select hotel bookings and select flights.
If you opened your Sapphire Preferred on or after June 23, 2025, you'll receive 1 cent per point toward standard Chase Travel℠ redemptions. However, previous cardholders can receive a higher redemption rate. All Chase points earned before Oct. 26, 2025, and redeemed by Oct. 26, 2027, are worth 1.25 cents per point toward travel for Sapphire Preferred cardholders.
Annual statement credits and subscriptions
Every account anniversary, Sapphire Preferred Card members now receive up to $100 in Chase Travel hotel credit. This credit automatically applies to hotel bookings you make through Chase Travel with your Sapphire Preferred card, and you can pay for the rest of the stay with your card or with Ultimate Rewards® points.
The Preferred also now offers a $120 Global Entry, TSA PreCheck or NEXUS credit every four years and a complimentary Apple TV subscription for one year, as long as you activate by Dec. 31, 2026. Terms apply. With each month costing $12.99, this subscription could save you roughly $156.
Primary rental car collision coverage
Lots of credit cards offer rental car insurance as a complimentary benefit. However, if you read the fine print, you'll see that it is often secondary to other insurance, which means it doesn't apply until other insurance pays out.
You can save serious cash on rentals because the Sapphire Preferred offers primary rental car coverage for damage and theft when you decline the rental company's collision coverage (except for New York State). This can save you $15 a day or more in insurance fees. To qualify, you need to pay for the entire rental with your Sapphire Preferred Card; this includes paying for the rental using Chase points when you book through Chase Travel.
DoorDash benefits
Sapphire Preferred cardholders can enroll to receive a complimentary DoorDash DashPass membership for a minimum of one year. To qualify, you must activate this benefit by Dec. 31, 2027. DashPass gets you $0 delivery fees and lower service fees on eligible orders. You'll also receive $10 off one qualifying non-restaurant DoorDash order per calendar month.
Shopping discounts and protections
Chase Sapphire Preferred Card members can access targeted deals for select retailers via Chase Offers. These offers typically give you a percentage or set dollar amount of cash back as a statement credit, after you add the offer to your card and make an eligible purchase.
The purchases you make with your Sapphire Preferred can qualify for purchase protection and extended warranty protection in case something goes wrong. Purchase protection covers your new purchases for 120 days against damage or theft, up to $500 per item. The extended warranty protection tacks on an additional year for eligible warranties of three years or less.
Travel insurance
When your trip goes haywire, the Sapphire Preferred offers a range of insurance perks that cover all sorts of issues. Eligible travel you pay for with your card is covered by the following:
- Trip cancellation and interruption insurance
- Trip delay reimbursement
- Baggage delay insurance
- Travel and emergency assistance
- Emergency evacuation and transportation
For any trip that gets canceled or cut short by sickness, severe weather and other covered situations, you can be reimbursed up to $10,000 per person and $20,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours and hotels.
You can also be reimbursed for essential purchases like toiletries and clothing for baggage delays over six hours by passenger carrier, up to $100 a day for five days. And if your travel is delayed more than 12 hours or requires an overnight stay, you and your family are covered for unreimbursed expenses, such as meals and lodging, up to $500 per ticket.
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every article is based on rigorous reporting by our team of expert writers and editors. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and X to stay up to date.
Read more
Information about the Chase Freedom Flex® has been collected independently by CNBC Select and has not been reviewed or provided by the issuer of the card prior to publication.
