Chase Sapphire Preferred Review 2025: Worth the $95 Annual Fee?

Quick verdict

Card overview

The Chase Sapphire Preferred has been a cornerstone of the travel rewards world since 2009, and for good reason. This card strikes an excellent balance between valuable benefits and an affordable annual fee, making it accessible for most travelers without the premium price tag of ultra-luxury cards.

Welcome bonus analysis

Current offer: 60,000 points after $5,000 spend

The current welcome bonus is substantial and relatively easy to achieve. Here's what those 60,000 points are worth:

• Cash Back: $600 (1 cent per point)
• Chase Travel Portal: $750 (1.25 cents per point)
• Transfer Partners: $900-$1,200+ (when transferred strategically)

The spending requirement breaks down to $1,667 per month over 3 months, which is achievable for most households with normal spending. Consider timing your application around large purchases like home repairs or taxes.

Historical context

The welcome bonus has fluctuated between 50,000-100,000 points over the years. The current 60,000-point offer represents solid value, though we've seen higher bonuses during promotional periods.

Rewards structure breakdown

Earning categories

• 5x Points: Travel purchased through Chase Travel (flights, hotels, car rentals)
• 3x Points: Dining at restaurants, select streaming services, online grocery purchases
• 2x Points: All other travel purchases (airlines, hotels, parking, etc.)
• 1x Points: All other purchases

Real-world earning examples

Spending Profile	Annual Dining	Annual Travel	Other Spending	Total Points
Moderate Traveler 2-3 trips per year	$3,000 (9,000 pts)	$2,000 (4,000 pts)	$15,000 (15,000 pts)	28,000 points Worth $420+ in travel
Heavy Dining Food enthusiast	$6,000 (18,000 pts)	$1,000 (2,000 pts)	$20,000 (20,000 pts)	40,000 points Worth $600+ in travel
Frequent Traveler 4+ trips per year	$4,000 (12,000 pts)	$5,000 (10,000 pts)	$18,000 (18,000 pts)	40,000 points Worth $600+ in travel

Annual fee value analysis

Breaking even on the $95 annual fee

There are several ways to justify the annual fee:

Through dining spending

• Need to spend $2,534 on dining annually
• At 3x points, this generates 7,602 points
• Worth $95 when redeemed for travel (1.25 cents per point)

Through travel spending

• Need to spend $3,800 on travel annually
• At 2x points, this generates 7,600 points
• Worth $95 when redeemed for travel

Hotel credit benefit

• Earn up to $50 in statement credits for Chase Travel hotel bookings
• Effectively reduces annual fee to $45
• Makes break-even much easier to achieve

Additional value factors

• 10% Anniversary Bonus: Earn 10% of total annual spending as bonus points
• Transfer Partner Value: Points often worth 1.5-2+ cents when transferred to airline/hotel partners

Key benefits and perks

Travel benefits

No foreign transaction fees

• Save 2.7% on international purchases
• $5,000 international spend = $135 in saved fees

Comprehensive travel insurance

• Trip cancellation/interruption insurance
• Baggage delay insurance
• Travel accident insurance
• Primary rental car coverage

$50 annual hotel credit

• Automatic statement credit for Chase Travel hotel bookings
• Effectively reduces annual fee to $45
• Easy to use with no hoops to jump through

Dining and lifestyle benefits

DashPass membership

• Complimentary access through December 31, 2027
• $0 delivery fees and reduced service fees
• Up to $10 monthly credit on non-restaurant DoorDash orders
• Value: $120+ annually

Ultimate Rewards flexibility

Transfer partners include:

• Airlines: United, Southwest, British Airways, Air Canada, JetBlue
• Hotels: Hyatt, Marriott, IHG
• Others: Instacart, Lyft

Redemption options:

• 1.25 cents per point for Chase Travel bookings
• 1:1 transfers to loyalty programs
• Cash back at 1 cent per point
• Gift cards and merchandise

Comparison with alternatives

Chase Sapphire Preferred vs. Chase Sapphire Reserve

Feature	Sapphire Preferred	Sapphire Reserve
Annual Fee	$95	$550
Travel Credit	$50 hotels only	$300 any travel
Lounge Access	None	Priority Pass + Chase Lounges
Travel Redemption Value	1.25¢ per point	1.5¢ per point
Dining Earning Rate	3x points	3x points
Travel Earning Rate	2x points	3x points

Chase Sapphire Preferred vs. Capital One Venture

Feature	Sapphire Preferred	Capital One Venture
Annual Fee	$95	$95
Welcome Bonus	60,000 points after $5,000 spend	75,000 miles after $4,000 spend
Earning Structure	Category-based (up to 5x)	2x on everything
Transfer Partners	12+ programs including Hyatt	15+ programs
Annual Credits	$50 hotel credit	None

Approval requirements

Credit score requirements

Recommended Score: 750+ (Excellent Credit)

Ideal profile:

• 2+ years of credit history
• Income of $40,000+
• Existing relationship with Chase (helpful but not required)

Chase 5/24 rule

Chase typically won't approve you if you've opened 5 or more credit card accounts in the past 24 months from any issuer.

Exceptions:

• Business cards not reported to personal credit
• Authorized user accounts (sometimes)
• Store cards (case-by-case)

Application strategy

Best practices:

• Check your credit score before applying
• Ensure you're under 5/24
• Have a relationship with Chase (checking/savings account)
• Apply when you can meet the minimum spend requirement naturally

Maximizing your rewards

Point redemption strategies

Tier 1: Transfer partners (1.5-2+ cents per point)

• Hyatt hotels: Often 2+ cents per point value
• United Airlines: 1.5-2 cents per point for international flights
• Southwest: 1.4-1.6 cents per point for domestic flights

Tier 2: Chase Travel Portal (1.25 cents per point)

• Easy to use
• No blackout dates
• Good for hotel bookings

Tier 3: Cash back (1 cent per point)

• Simplest option
• Lowest value
• Good for non-travelers

Earning optimization tips

Stack with other Chase cards:

• Chase Freedom Unlimited: 1.5x on all purchases
• Chase Freedom Flex: 5x on rotating categories
• Transfer points to Sapphire Preferred for enhanced redemption value

Maximize bonus categories:

• Use for all dining and travel purchases
• Include food delivery and streaming services
• Remember online grocery purchases count as 3x

Strategic timing:

• Book travel through Chase Travel when possible (5x points)
• Use annual hotel credit early in the year
• Plan large purchases around welcome bonus periods

Who should (and shouldn't) get this card

Perfect for:

The casual traveler

• Takes 2-4 trips per year
• Values flexibility over premium perks
• Wants travel insurance without high annual fees

The dining enthusiast

• Spends $2,000+ annually on restaurants
• Orders delivery/takeout regularly
• Subscribes to streaming services

The points beginner

• New to travel rewards
• Wants valuable points without complexity
• Appreciates multiple redemption options

The Chase ecosystem user

• Has other Chase cards
• Wants to maximize Ultimate Rewards value
• Appreciates unified points system

Skip this card if:

You're a homebody

• Rarely travel or dine out
• Prefer simple cashback
• Won't use travel benefits

You're a premium traveler

• Fly frequently and want lounge access
• Need higher earning rates
• Can justify the Reserve's $550 annual fee

You're credit-challenged

• Credit score below 700
• Recent credit issues
• Already at Chase's 5/24 limit

You want maximum everyday earning

• Prefer 2% on everything
• Don't want to think about categories
• Value simplicity over flexibility

Frequently asked questions

Is the $95 annual fee worth it?

Yes, for most travelers. The $50 hotel credit alone reduces the effective annual fee to $45. Combined with the 10% anniversary bonus and travel insurance, most cardholders easily recover the annual fee.

What credit score do I need?

Generally 700+ for approval, though some users with scores in the high 600s have been approved with strong income and credit history.

Can I get approved if I have the Chase Sapphire Reserve?

No, Chase only allows one Sapphire card per person. You'd need to downgrade or cancel the Reserve first.

How do I maximize the welcome bonus?

Time your application around large purchases like home improvements, taxes, or planned travel. The $5,000 requirement over 3 months is achievable for most households.

Should I book travel through Chase Travel?

It depends. You'll earn 5x points, but you might miss out on airline/hotel elite benefits. Compare prices and consider your priorities.

What happens if I don't use the $50 hotel credit?

It doesn't roll over, so plan to book at least one hotel through Chase Travel annually to maximize value.