Chase Sapphire Preferred® Credit Card Review

Sapphire Preferred® from Chase — all information about the credit card.

By Hanna Volkava
Updated October 05, 2023

Good Choose for Travel, Restaurants, Daily use

Chase Sapphire Preferred®
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Our Rating:
4.25 out of 5
Recommended credit score
Good to Excellent (670-799)
  • Rewards Rate:
    • $50 Earn up to $50 in statement credits each account anniversary year for hotel stays purchased through Chase Ultimate Rewards®.
    • 5x Points on travel purchased through Chase Ultimate Rewards®, excluding hotel purchases that qualify for the $50 Anniversary Hotel Credit.
    • 3x Points on dining, including eligible delivery services, takeout and dining out.
    • 3x Points on online grocery purchases (excluding Target, Walmart and wholesale clubs).
    • 3x Points on select streaming services.
    • 2x Points on other travel purchases.
    • 1x Point per dollar spent on all other purchases.
  • Intro Offer:
    • 60,000x Bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when redeemed through Chase Ultimate Rewards®.
  • Annual Fee:
    $95 annually
  • Purchase Intro APR:
  • Regular APR:
    21.49% - 28.49% Variable
  • Balance Transfer APR:
    21.49% - 28.49% Variable
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Chase Sapphire Preferred® Rewards Calculator

How do you record your expenses?
Enter your monthly spendings on:
Streaming services
All other purchases
Have you already recieved the Chase intro bonus?
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All benefits

  • Points
    • 5x On travel purchased through Chase Ultimate Rewards®, excluding hotel purchases that qualify for the $50 Anniversary Hotel Credit.
    • 3x On dining, including eligible delivery services, takeout and dining out.
    • 3x On online grocery purchases (excluding Target, Walmart and wholesale clubs).
    • 3x On select streaming services.
    • 2x On other travel purchases.
    • 1x On all other purchases.
  • Travel
    • Trip Cancellation/Interruption Insurance:
    • If your trip is 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.
    • Auto Rental Collision Damage Waiver:
    • Decline the rental company's collision insurance and charge the entire rental cost to your card. Coverage is primary and provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most rental cars in the U.S. and abroad.
    • Baggage Delay Insurance:
    • Reimburses you for essential purchases like toiletries and clothing for baggage delays over 6 hours by passenger carrier up to $100 a day for 5 days.
    • Trip Delay Reimbursement:
    • If your common carrier 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.
    • Travel and Emergency Assistance Services:
    • If you run into a problem away from home, call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance. (You will be responsible for the cost of any goods or services obtained.)

Rate and fee information

  • Purchase Intro APR
    • None
  • Purchase APR
    • 21.49% - 28.49% Variable
  • Intro Balance Transfer APR
    • None
  • Balance Transfers APR
    • 21.49% - 28.49% Variable
  • APR for Cash Advances
    • 29.99% Variable
  • How to Avoid Paying Interest
    • Your due date will be a minimum of 21 days after the close of each billing cycle. You will not be charged interest on new purchases if you pay your entire balance or Interest Saving Balance by the due date each month. You will be charged interest on balance transfers and cash advances on the transaction date.


  • Annual Fee
    • $95 annually
  • Fees for Balance Transfer
    • Either $5 or 5% of the amount of each transfer, whichever is greater
  • Fees for Cash Advances
    • Either $10 or 5% of the amount of each transaction, whichever is greater
  • Penalty Fees
    • 29.99%
  • Return Payment
    • Up to $40
  • Late Payment
    • Up to $40
  • Return Check
    • None
View all Rates & Fees

Pros & Cons

  • Excellent sign-up bonus
  • No foreign transaction fees
  • 25% more redemption value
  • Unique “My Chase Plan” offer
  • Great Referral Program
  • There is an annual fee
  • Steep penalty APR of 29.99%
  • No 0% intro APR offer


  • No foreign transaction fees
  • Payment Flexibility
  • Rewards
  • Bonus points
  • Purchase Protection
  • Extended Warranty Protection
  • Travel
  • Airline
  • Baggage Delay Insurance
  • Trip Cancellation
  • Auto Rental Insurance
  • 24/7 Travel Assistant
  • Good Credit
  • Excellent Credit

About the issuer

Chase has several card types depending on your needs.
Manage your Account & Pay your Bill
You can usually pay your bill online on your

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Chase Sapphire Preferred® Credit Card Review

In this article, we’ll review the Chase Sapphire Preferred® card, a great travel rewards credit card with an amazing sign-up bonus.

The Chase Sapphire Preferred® credit card lets you earn 1 point for every dollar spent on all purchases, plus 5X points on travel. As of today, its sign-up offer of 60,000 Bonus Points is the best, so far, if you meet the purchase requirements within 3 months after account opening. If you’re ready to move on from the usual cashback rewards, the best way to start is the Chase Sapphire Preferred® card, which offers awesome travel perks and lets you earn 25% more on travel with Chase Ultimate Rewards or through Pay Yourself Back program.

Chase Sapphire Preferred® credit card: pros and cons

Pros: Cons:
Excellent sign-up bonus. When you spend at least $4000 within the first 3 months after account opening, you are eligible for the 60,000 bonus points, which is equivalent to $1,250 when redeemed towards travel through Chase Ultimate Rewards®. There is an annual fee. You will be charged a $95 annual fee.
No foreign transaction fees. Purchases outside of the U.S. will not incur any fees. Steep penalty APR of 29.99%. If you miss to pay the minimum due amount, you’ll be charged a high penalty APR of 29.99%.
25% more redemption value. Get 25% more value with your points if you redeem through Pay Yourself Back℠ for statement credits in select rotating categories. Another option to get 25% more value - is to redeem for travel through Chase Ultimate Rewards. No 0% intro APR offer. Regular APR on purchases is immediately in effect.
Unique “My Chase Plan” offer. You can break payments for purchases above $100 into a fixed monthly amount at no interest through the My Chase Plan. A monthly fee of 1.72% will be charged based on the amount of the purchase.
Great Referral Program. Earn up to 75,000 bonus points per year from referrals. For each friend you refer that gets approved, you will earn 15,000 bonus points.

Rewards system in a nutshell


The Chase Sapphire Preferred® credit card is a great travel rewards card with an attractive sign-up bonus complemented by excellent earning potentials. Moreover, the reward system has very flexible redemption options.

You earn 2 points per dollar spent on travel. In addition, till March 2022, you get 3 extra points for eligible Lyft rides, on top of 2 points you already earn on travel. Other purchases earn 1 point per dollar spent.

Chase Sapphire Preferred® offers 60,000 bonus points if you spend $4000 in 3 months after opening the account. The cash value of the bonus is equivalent to $1,250 if redeemed for travel through Chase Ultimate Rewards®.

Another excellent feature of Chase Sapphire Preferred® credit card is the referral program, with a chance to earn up to 75,000 points per year - the equivalent of $750 if you convert the points to cash. You can refer up to 5 friends in a year; if approved, each referral can earn 15,000 bonus points.

The points value may vary according to the redemption options that include:

  • Convert to cash via direct bank deposit – redeem for cash via an electronic deposit to an eligible checking or savings bank account or a statement credit. In case you opt to convert your points into cash, each point is equivalent to one cent.
  • Travel – use your points to pay for your travel, such as cruise and airline fares, hotel accommodation, and car rentals, and enjoy 25% more value if you redeem through Chase Ultimate Rewards.
  • Transfer to airline partners - you can transfer points at a 1:1 rate to several frequent flyer programs, including United, British Airlines, and Emirates.
  • Pay Yourself Back℠ – get a statement credit for eligible purchases with an extra 25% point value.
  • Gift cards – convert your reward points into gift certificates and gift cards.

Your points will not expire for the life of the card for as long as your account is active. But, you could lose all of them if:

  • you fail to pay the minimum amount due within 60 days;
  • there are signs of misuse of the card;
  • you file for bankruptcy;
  • you cancel or close your account.

Who can benefit from getting the Chase Sapphire Preferred® credit card?

If you are looking for a travel credit card, the Chase Sapphire Preferred® would be a great option. The card offers decent rewards on travel and dining, an impressive 100,000 bonus points offer, and multiple ways to redeem points towards travel expenses. Even if you don’t travel too often, it’s still a sound card if you love dining out or order takeouts

Are there any other benefits?

The Chase Sapphire Preferred® card lacks some usual travel benefits like free lounge access, priority boarding, and TSA PreCheck/Global Entry reimbursement. But they compensate that with a tempting sign-up bonus plus a variety of travel perks and lifestyle benefits. Check out some of the benefits that cardholders get:

  • Partner benefits – Enjoy deliveries with no delivery fees and reduced service fees on qualified purchases with DoorDash and DashPass subscriptions. You will also get up to $60 in statement credit for qualifying Peloton purchases, including All-Access Membership.
  • Purchase protection – New purchases made with the card are covered for 120 days against theft or damage up to $500 per claim. The total maximum claim per account is $50,000.
  • Extended warranty protection - You will enjoy 1-year extended warranty protection on purchases of eligible products from U.S. manufacturers with warranties of 3 years or less.
  • Car rental coverage – Coverage is primary for full reimbursement up to the cash value of the vehicle in the event of collision damage or theft if you waive the car rental insurance.
  • Trip delay reimbursements – Get up to $500 per ticket for expenses on meals, lodging, and other costs related to the carrier travel delay of 12 hours or more.
  • Trip cancellation or interruption insurance - You will get trip cancellation or interruption insurance in the event of bad weather or sickness. You can get as much as $20,000 per trip in reimbursements, or $10,000 per person, for your non-refundable prepaid travel expenses.
  • Travel and emergency assistance services – Call the Benefit Administrator anytime for legal assistance, medical referrals, and other problems if you're away from home.
  • 24/7 customer service access – Chase customer service is available 24 hours per day, seven days a week, for any assistance.


The Chase Sapphire Preferred® card isn’t a card for everyone. You need to have a good credit score to increase your chances of getting approved.

With a decent reward rate for travel and dining, no foreign transaction fees, and travel protection benefits, it makes sense to own a Chase Sapphire Preferred® credit card if you are a frequent traveler. Redeeming points is easy and can be done in a wide range of options through Chase Ultimate Rewards.

It’s also an excellent card to start if you want to upgrade later on to the Chase Sapphire Reserve® credit card.


What is the customer service phone number for Chase Sapphire Preferred® credit card?

To connect with the customer service of Chase, just call the Chase Customer Service phone number at 1-800-935-9935. They also accept operator relay calls for those who are deaf, with a speech disability, and hearing impairment — just dial 711 for assistance.

How to check my application status for Chase Sapphire Preferred® credit card?

To check your Chase credit card application status, you can call the application status line at 1-800-432-3117.

How to get approved for Chase Sapphire Preferred®?

To get approved for a Chase Sapphire Preferred® card, you need to have at least a good credit score. Although there is no definite recommended score and minimum income, a score above 700 will improve your chances of approval. Also, Chase is known to follow the 5/24 rule. This means your application is more likely to be rejected if you've opened five or more credit cards from various card issuers for the last 24 months.

What is the approval time for Chase Sapphire Preferred® credit card?

After submitting your application for Chase Sapphire Preferred® credit card, you will receive a message that the decision regarding your application will be made within 30 days. But some applications are approved instantly.

Is Chase Sapphire Preferred® worth it?

The sign-up bonus of 60,000 points covers the $95 annual fee for many years, so it is worth getting the Chase Sapphire Preferred® credit card, considering the rewards and travel benefits. Even if you occasionally travel, the card is worth considering.

How to redeem Chase Sapphire Preferred® points?

To redeem your Chase Sapphire Preferred® points, just log in to your Chase Ultimate Rewards portal. Among your redemption options are a statement credit, cash via direct bank deposit, gift cards, and travel. You can also combine your points with other Chase cards with Ultimate Rewards.

What is the Chase Sapphire Preferred® card made out of?

The Chase Sapphire Preferred® credit card is made of sleek metal that weighs 13 grams. The lightweight metal construction makes it easy to carry around without adding extra weight to your pocket.
Hanna VolkavaHanna Volkava

Financial and product expert
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