Sign-up bonuses and fees change often — confirm the current offer on the issuer's page before you apply.
The Chase Sapphire Preferred® Card is the single best "first travel card" in the U.S., and it isn't close. For a $95 annual fee it unlocks Chase's full Ultimate Rewards transfer program — the same points billionaires-in-business-class use — while staying simple enough for someone who has never touched a mile. If you read one card guide, read this one.
Advertiser disclosure: we may be compensated when you're approved through our links. It doesn't affect our editorial take. Terms apply — see the issuer's Rates & Fees.
At a glance
| Annual fee | $95 |
| Sign-up bonus | 75,000 points after $5,000 spend (verify current offer) |
| Bonus value | ~$1,500 in travel at our 2.0¢ valuation |
| Best for | Your first transferable-points card; dining & travel spenders |
| Points earned | Chase Ultimate Rewards (transferable) |
| Foreign transaction fee | None |
| Card network | Visa (Signature) |
Apply Now → see the current offer
What the points are worth
We value Ultimate Rewards points at 2.0¢ each — among the highest of any currency — because they transfer 1:1 to United, Air Canada, Air France/KLM, British Airways, Virgin Atlantic and more (Hyatt is now 4:3 from newly opened Preferreds — see below). The old guaranteed 1.25¢ in Chase Travel℠ is gone for new applicants: since the June 23, 2025 Points Boost rollout, points redeem at a 1¢ base rate, with boosted rates (up to 1.5¢ on hotels and economy flights, up to 1.75¢ on premium cabins) only on select flagged inventory. Only cardholders who applied before June 23, 2025 keep 1.25¢ — and only on points earned before October 26, 2025, redeemable through October 26, 2027. So your floor is 1¢, and your ceiling — via transfers — is often 5–8¢+.
A 75,000-point bonus is therefore worth:
- $750 cashed out (don't) ·
- $750 at the 1¢ Chase Travel base rate (more only on Points Boost inventory) ·
- $1,500+ transferred to a partner for a well-chosen award.
Where your points can go
The Sapphire Preferred's points transfer to these airline and hotel programs — tap any partner to see how to use those miles, what they're worth, and the best redemptions:
Airline transfer partners United MileagePlus · Air Canada Aeroplan · Air France/KLM Flying Blue · British Airways / Qatar Avios · Qatar Qsuite award · Virgin Atlantic · Singapore KrisFlyer · Southwest Rapid Rewards · JetBlue TrueBlue
Hotel transfer partners World of Hyatt · IHG One Rewards · Marriott Bonvoy
For every transfer ratio, transfer time and current bonus, see the complete transfer partners chart.
Earning rates
| Rate | Category |
|---|---|
| 5x | Travel booked through Chase Travel℠ |
| 5x | Lyft rides (through the promo period) |
| 3x | Dining (incl. takeout & delivery) |
| 3x | Online groceries (excl. Walmart/Target/wholesale) |
| 3x | Select streaming services |
| 3x | Gas stations & EV charging (added in the June 2026 refresh) |
| 3x | Vacation rentals (added in the June 2026 refresh) |
| 2x | All other travel (airfare, hotels, transit, tolls, parking, rideshare) |
| 1x | Everything else |
At 2.0¢/point, 3x dining = an effective 6% back in travel value — better than most "6% cash back" cards, and far more flexible.
Benefits & credits
Credit amounts and perks change — verify each is current before you count on it.
- $100 annual Chase Travel hotel credit — up to $100 back on hotel bookings through the portal each cardmember year (raised from $50 in the 2026 refresh — verify current terms). That effectively wipes out the $95 annual fee.
- Up to $120 Trusted Traveler credit — a statement credit once every four years toward Global Entry, TSA PreCheck, or NEXUS (added in the 2026 refresh — verify current terms).
- Trip cancellation/interruption insurance — up to $10,000 per person / $20,000 per trip.
- Primary auto rental collision damage waiver — decline the rental counter's insurance; this covers you first, not after your personal policy.
- Trip delay reimbursement — up to $500/ticket for delays over 12 hours or requiring an overnight.
- Baggage delay & lost luggage coverage.
- Purchase protection (120 days, up to $500/claim) and extended warranty.
- No foreign transaction fees — use it freely abroad.
- DoorDash & other partner perks (offers rotate — check the benefits page).
Best uses (sweet spots), with examples
1. Transfer to Hyatt for outsized hotel value — mind the new ratio. Hyatt is still the best-value transfer Chase offers, but Preferred cards opened after June 15, 2026 transfer at 4:3, not 1:1 (existing cardholders keep 1:1 only through September 30, 2026). A 40,000-point Hyatt stay that used to cost 40,000 Chase points now takes about 53,300 from a new Preferred — a 25% haircut. The full 1:1 ratio survives on the Sapphire Reserve and Ink cards (and on Bilt).
2. Transfer to United or Air Canada for flights. A $220 domestic nonstop at 12,500 United miles + $5.60 = 1.71¢/point. A European economy hop on Air Canada Aeroplan can run 12,500–17,000 miles with no fuel surcharges.
3. Transatlantic business class via Air France/KLM Flying Blue. 55,000 points → 55,000 Flying Blue miles → a ~$4,000 lie-flat seat to Europe. That's 7¢+ per point — the redemption that pays for the card many times over.
4. The simple fallback: Chase Travel (now Points Boost). No award-chart research: for new cardholders, 75,000 points = a flat $750 at the 1¢ base rate toward any flight or hotel, with no blackout dates — and up to 1.5–1.75¢ on select Points Boost fares if one happens to fit your trip. Fine when a cash fare is cheap and transfers don't beat it.
Fine print worth knowing
- 5/24 rule: Chase generally won't approve you if you've opened 5+ personal cards (any issuer) in the past 24 months. Check your count first.
- Sapphire bonus rules changed June 23, 2025: you can now hold both Sapphire Preferred and Sapphire Reserve, and the old 48-month clock is gone — replaced by a once-per-lifetime bonus per Sapphire product. A past Preferred bonus likely blocks a new Preferred bonus for good, but doesn't block a first-time Reserve bonus.
- Points don't expire while the account is open, but transferred miles/points follow the partner's rules.
- The $100 hotel credit is portal-only and resets each cardmember year (not calendar year).
Who should get it
Get the Sapphire Preferred if you want one card that earns flexible points, covers travel and dining well, protects your trips, and lets you graduate into award travel at your own pace. It's the default recommendation for 90% of people starting out.
Consider the Sapphire Reserve instead if you spend heavily on travel and will use its lounge access and larger credits. Consider Capital One Venture X if you want lounge access at a lower ($395) fee with simpler 2x-everywhere earning.
Bottom line
The Sapphire Preferred is the best on-ramp to the points hobby: a low fee, a real bonus, strong everyday earning, genuine travel protections, and the full Ultimate Rewards transfer program behind it. Pair it later with a no-fee Chase Freedom to earn even faster, and you've built a two-card engine that funds real trips.
Apply Now → see the current offer
Related: How much are your points worth? · Chase transfer partners · World of Hyatt guide
