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The Chase Sapphire Preferred® Card (see rates and fees) is widely considered one of the best travel credit cards on the market — even winning TPG's best travel rewards card award for seven straight years at the TPG Awards.
If you don't already carry this prized card, now is a great time to add it to your wallet since it's currently offering an amazing welcome bonus — more on that below.
Let's jump into the key perks of the Chase Sapphire Preferred and why it should be your first — or next — rewards credit card.
The Chase Sapphire Preferred is currently offering a limited-time welcome bonus of 100,000 Ultimate Rewards points after spending $5,000 within the first three months of account opening.
When redeeming for travel at a fixed value (1.25 cents apiece), those 100,000 Chase Ultimate Rewards points are worth $1,250 through the Chase Ultimate Rewards portal, where you can book flights, hotels and rental cars.
However, our March 2025 valuations peg the current welcome offer at an impressive $2,050 — if you redeem your points via Chase's 11 airline and three hotel partners that allow you to transfer the points to their respective loyalty programs at a 1:1 ratio.
Related: A top travel card contender: Chase Sapphire Preferred credit card review
Since its launch in 2009, the Chase Sapphire Preferred has offered bonus rewards on travel and dining purchases, covering everything from Uber rides and parking fees to food delivery services.
Chase revamped bonus categories and benefits that make the Sapphire Preferred more competitive than ever before. Now, cardholders can earn:
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At your account anniversary, you'll also accrue 10% of your total card spending in the form of points. Each point represents $1 spent on the card, so if you spent $10,000 on the Sapphire Preferred in one year, you'd receive 1,000 points back.
The categories and bonus benefits allow cardholders to earn bonus points on all travel-related purchases and everyday purchases beyond just the welcome offer.
Related: Why you'll want to pay the $95 annual fee on the Chase Sapphire Preferred
No matter what type of card user you are, there are ways to get solid value from your Ultimate Rewards points.
This includes Amazon purchases, Apple products and gift cards. While these redemption options will yield between 0.8 and 1 cent per point in value, there are much better ways to stretch your points when using them for travel.
Your easiest option is to book travel directly through Chase Travel since points are worth a flat 1.25 cents each.
If you're seeking to get maximum value from your points, though, you'll want to transfer them to one of Chase's airline or hotel transfer partners.
Typically, you'll get the most out of your points when you transfer them to partners like Southwest Rapid Rewards, Air Canada Aeroplan and World of Hyatt. In some cases, transfers make it so that you can even exceed TPG's March 2025 valuation of 2.05 cents per point.
Related: From international business class to domestic hops: 6 of the best Chase Ultimate Rewards sweet spots
The value of the Chase Sapphire Preferred doesn't stop at earning and redeeming points. When you pay for your trip expenses with your card, you'll be armed with complimentary travel protections and benefits that could save you hundreds (or thousands) of dollars.
Perks and protections that come with the Chase Sapphire Preferred mean you can prepare for and embark on your trip with peace of mind.
Receive a $50 statement credit once per year when you book a hotel reservation through Chase Travel.
Cardholders receive primary car rental insurance, which covers the entire loss, damage or theft of a rental car without going through an insurance company.
Cardholders receive up to $3,000 per covered traveler for the cost to repair or replace checked or carry-on baggage that is lost, damaged or stolen during a covered trip.
Cardholders also receive trip delay reimbursement. If your flight, train or other common carrier trip is delayed more than 12 hours or you require an overnight stay due to a delay, you're covered for unreimbursed expenses such as meals and lodging up to $500 per ticket. (And yes, we've tested this perk out, and it really works.)
If your trip is cut short or interrupted by sickness, severe weather or other covered situations, the Sapphire Preferred also offers protections in these areas. You can recoup up to $10,000 per person (up to a maximum of $20,000 per trip) for prepaid, nonrefundable travel expenses such as plane tickets, hotels and tours.
Cardholders receive baggage delay insurance, which covers up to $100 per day for up to five days for essentials when checked baggage is delayed by more than six hours.
Other notable benefits include no foreign transaction fees, making this card suitable for use at home and abroad. This can save you from having to pay between 2.7% and 3% on purchases made outside of the U.S.
You'll also be able to access travel and emergency assistance and roadside assistance.
Related: Your guide to Chase's trip insurance coverage
Chase has several unique partnerships that go beyond the travel realm that Sapphire Preferred cardholders can enjoy.
Cardholders have complimentary access to at least one year of DoorDash DashPass, which normally costs $9.99 per month. You'll get lower service fees and free delivery on orders over $12. Once you activate your DashPass benefit, it's valid through Dec. 31, 2027.
Cardholders receive extended warranty protection, which extends the manufacturer's warranty by one year and covers up to $10,000 per item and up to $50,000 per account.
Additionally, cardholders receive purchase protection which covers purchases made on their card within 120 days against loss, theft or damage up to $500 per item and up to $50,000 per account.
Related: Chase Sapphire Preferred benefits you may not know about
If you're not convinced yet, here's another big reason you may want to apply for the Chase Sapphire Preferred sooner rather than later: the infamous Chase 5/24 rule.
If you've opened five or more new personal credit cards in the past 24 months across all banks — not just with Chase — it's a near certainty that you won't be approved for the Sapphire Preferred (or another consumer Chase card).
As a result, if you want to take advantage of the welcome bonus and the other perks that come with the Chase Sapphire Preferred, it's a good idea to add it to your wallet before moving on to other cards.
Similarly, if you've received a welcome bonus from the Chase Sapphire Reserve® (see rates and fees) in the last 48 months or still have a Sapphire Reserve open, you will not be eligible for the Sapphire Preferred's welcome bonus.
Related: TPG beginners guide: Everything you need to know about points, miles, airlines and credit cards
The Chase Sapphire Preferred is unmatched in terms of value and affordability. With a $95 annual fee, there are many ways to justify this cost, whether it's the extra lucrative limited-time welcome bonus, ongoing rewards or complimentary trip protections that ensure peace of mind on your travels.
Apply here: Chase Sapphire Preferred Card
Related: Best Chase cards
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