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The Sapphire Preferred earns 5.0X on travel_portal, 3.0X on dining, 3.0X on online_grocery, 3.0X on streaming, 2.0X on travel, 1.0X on base with a $95 annual fee. The current signup bonus is 75,000 points (worth $938 at portal rates) after $4,000 spend. Points transfer 1:1 to airline and hotel partners.
The Sapphire Preferred is a points rewards card from Chase that carries a $95/yr on the visa network. At its core it earns 1.0X Chase Ultimate Rewards on everyday purchases, making it straightforward for cardholders who want predictable, consistent returns.
Points enthusiasts will find the most flexibility with the Sapphire Preferred. Chase Ultimate Rewards can be redeemed for travel, gift cards, statement credits, or transferred to loyalty partners. Cardholders who maximize transfer partners often extract 1.5–2+ cents per point, well above face value.
Combined with the current signup offer of 75,000 points (worth ~$938), The $95/yr fee is the key variable — run the numbers against your actual spending. If the rewards and benefits offset the fee, this card earns its place in your wallet. If not, consider a comparable no-fee alternative.
The Sapphire Preferred charges $95 per year. To justify this fee, you need to earn at least $95 in rewards and benefits annually.
Statement credits: Complimentary DashPass ($120/yr), Annual Hotel Credit ($50/yr). These credits total $170/yr, bringing the effective annual fee down to $0.
Click any MCC code or merchant name to see all cards that earn bonus rewards there.
Signup Bonus Value
75,000 points Chase Ultimate Rewards Points
Spend $4,000 in first 3 months
Cash / statement credit$938
Portal redemption (1.25¢/pt)$1,172
Transfer average (2.0¢/pt consensus)$1,922
Maximum value$1,922
Benefits
Trip Cancellation Insurance
$10,000
$10,000 per person, per trip
Trip Delay Reimbursement
$500
$500 per ticket
Baggage Delay Insurance
$500/yr
$100/day, 5 days max
Rental Car Collision Damage Waiver
Primary
Primary (international)
Purchase Protection
$50,000/yr
$500 per claim, 120 days
Extended Warranty Protection
$10,000
Up to $10,000
Effective Annual Fee
Annual fee–$95
Complimentary DashPass+$120
Annual Hotel Credit+$50
Net annual cost+$75 (you come out ahead)
Financial disclaimer: PointsPick is not a financial advisor. Credit card terms, APRs, and fees are set by Chase and subject to change. Verify all information on the issuer's website before applying.
DashPass extended through December 2027 Previously set to expire mid-2026 Improvement
Sep 2025
$50 annual hotel credit added for portal bookings No spend requirement. Offsets more than half the fee Improvement
Jan 2024
3X online grocery added Previously only dining and streaming earned 3X Improvement
Aug 2023
Signup bonus reduced from 80,000 to 75,000 points Spend requirement unchanged at $4,000 in 3 months Devaluation
Sep 2021
Major refresh: 5X portal travel, 3X streaming, DashPass included Annual fee held at $95. Increased portal rate from 1.25x Improvement
Strengths and Weaknesses
Strengths
Signup bonus worth up to $1,922
5X top earn rate on bonus categories
1:1 transfer to airline and hotel partners
No foreign transaction fees
Low annual fee with strong return on value
Weaknesses
$95 annual fee
1X base rate on non-bonus spending
High variable APR up to 29.49%
How to Apply
You can apply for the Sapphire Preferred directly through Chase's website. The application takes about 5 minutes and requires your Social Security number, annual income, and housing payment information. Most applicants receive an instant decision. Note that the $95 annual fee is typically not charged until your first statement closes.
Before applying, check if you are pre-approved on Chase's website — a pre-approval uses a soft pull and does not affect your credit score.
For moderate spenders, generally yes. The Sapphire Preferred offers rewards and benefits that typically exceed the $95 annual fee for anyone who uses the bonus categories regularly.
What credit score is needed for the Sapphire Preferred?
Most successful applicants have a credit score of 670 or higher. Higher scores significantly improve approval odds.
What is the current signup bonus for the Sapphire Preferred?
The current signup bonus is 75,000 points. Check the issuer's website for the latest offer details and spending requirements.
Does the Sapphire Preferred have a foreign transaction fee?
No. The Sapphire Preferred does not charge a foreign transaction fee, making it a good option for international purchases and travel abroad.
Can you transfer Sapphire Preferred points to airlines?
Yes. Sapphire Preferred points can be transferred to airline and hotel loyalty programs at various ratios. This is often the highest-value redemption option, yielding 1.5-2+ cents per point.
Sapphire Preferred vs Marriott Bonvoy Boundless: which is better?
Both cards compete in the same category. The Sapphire Preferred and Marriott Bonvoy Boundless each have strengths depending on your spending patterns. See our detailed comparison for a side-by-side analysis.
How to downgrade the Sapphire Preferred to avoid the annual fee?
Call Chase and ask to product-change the Sapphire Preferred to a no-annual-fee card in the same family. This preserves your credit history and credit limit. The best time to downgrade is within 30 days of your annual fee posting for a full refund.
Methodology
This review draws on data from 35+ independent sources including official product pages, the CFPB Credit Card Agreements Database, community approval datapoints, expert point valuation sources, and our proprietary MCC verification database. Rankings are data-driven with no affiliate influence on placement. Card terms were last verified on March 08, 2026. Full methodology: www.pointspick.com/methodology.
