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HomeBonus OffersChase Sapphire Preferred Card: $750 Bonus, $50 Hotel Credit and More in...

Chase Sapphire Preferred Card: $750 Bonus, $50 Hotel Credit and More in November 2021

New benefits like annual hotel credits and increased points earning, make this travel credit card a stronger choice than ever before.

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I’ve been collecting frequent flyer miles since I was a teenager in the 1980s, and I started taking it very seriously in 2006. Since then, I’ve earned and spent millions of points and miles, largely through credit card rewards. Since 2013, I’ve almost never paid cash for a flight or hotel room, despite taking dozens of trips a year.

Between this personal experience and my career as a credit card expert, it’s no wonder that so many people ask me what credit card they should get to start earning travel rewards. In most cases, the answer is the Chase Sapphire Preferred® Card.

Offer Details

Secure application on issuer’s website.

Annual Fee: $95
Bonus: 60,000 Points
APR: Variable Rate
Rewards Rate: 1X-5X Points
Details: Full Review

Terms and restrictions apply

Offer Terms

Annual Fee: $95

APR: Variable APR depending on credit worthiness.

Rewards Rate: The card offers 5x points per dollar on travel booked through Chase Ultimate Rewards, 3x points on dining (including eligible takeout and delivery services), 3x points on select streaming services, 3x points on online groceries (excluding Target and Walmart), 2x points on all other travel spending and 1x point per dollar everywhere else. Chase broadly defines travel to include not just airfare, hotels and rental cars, but expenses like parking, tolls and public transit too. Also, the card earns 5x points per dollar spent on Lyft rides through March 2022.

Sign-Up Bonus: New applicants can earn 60,000 bonus points after using their card to spend $4,000 on purchases in the first three months of account opening. That’s $750 when redeeming points to book travel through Chase Ultimate Rewards.

Who Should Use This Credit Card? People who are beginning with travel rewards cards.

Why We Like It

Why We Like the Chase Sapphire Preferred® Card

The Chase Sapphire Preferred actually works like having over a dozen different rewards credit cards. That’s because this credit card allows you to transfer your rewards points into miles with 11 airlines and points with three hotel programs.

Although the Chase Sapphire Preferred might not be ideal for the most frequent travelers and highest spenders, it’s part of a family of Chase cards that has a built-in upgrade path. So when it comes time to take your travel rewards game to the next level, you won’t have to start from scratch with an entirely different credit card and rewards program.

The card has a $95 annual fee, but the $50 annual Ultimate Rewards Hotel Credit effectively reduces that fee to $45. Plus, the credit card allows you to continue earning points through bonus categories and a 10% anniversary points boost. But when it comes time to redeem your rewards for travel, this card really shines. You can take advantage of some really strong transfer partners such as United, Southwest, Singapore Airlines, Virgin Atlantic and Hyatt. Similarly, you can just book any reservation you want through the Chase Ultimate Rewards travel center.

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Chase Sapphire Preferred® Card Review

There’s no one best travel credit card that’s right for everyone, but the Chase Sapphire Preferred actually works like having over a dozen different rewards credit cards. That’s because this credit card allows you to transfer your rewards points into miles with 11 airlines and points with three hotel programs.

Although the Chase Sapphire Preferred might not be ideal for the most frequent travelers and highest spenders, it’s part of a family of Chase cards that has a built-in upgrade path. So when it comes time to take your travel rewards game to the next level, you won’t have to start from scratch with an entirely different credit card and rewards program.

Chase Sapphire Preferred Bonus

New cardholders can earn 60,000 bonus points after using their new credit card to spend $4,000 within three months of account opening. This sign-up bonus is worth $750 in travel reservations booked through Chase Ultimate Rewards, but potentially more when transferred to airline and hotel partners. The Chase Sapphire Preferred bonus is generally regarded as among the best credit card bonuses available.

Referral Bonus Program

Once you’ve become Sapphire Preferred cardholder, you can also earn additional points through Chase’s Refer-a-Friend program. Earn up to 75,000 bonus points per year by referring friends for the Chase Sapphire Preferred Card. That’s 15,000 bonus points for each friend who gets approved.

Chase Sapphire Preferred Rewards Rate

This credit card offers accelerated rewards earning for travel and dining purchases, as well as common household expenses such as online groceries and streaming services.

Bonus CategoryRewards RateLimit
Travel booked through Chase5x points per dollarNone
Dining3x points per dollarNone
Select streaming services3x points per dollarNone
Online groceries3x points per dollarNone
Travel2x points per dollarNone
Other Purchases1x pointNone

The Chase Sapphire Preferred earns 5x points per dollar spent on all travel booked through Chase Ultimate Rewards, 3x points on dining (including eligible takeout and delivery services), 3x points on select streaming services, 3x points for online groceries (excluding big box retailers like Target, Walmart and wholesale clubs) and 2x points per dollar spent on travel purchases. In fact, Chase broadly defines travel to include not just airfare, hotels and rental cars, but expenses like parking, tolls and public transit too.

Additionally, the Sapphire Preferred awards 5x points per dollar spent with Lyft through March 2022. That’s 3x points for Lyft rides and 2x points for the travel category purchase (for a total of five points).

The Chase Sapphire Preferred awards 1x point per dollar on all other spending.

Chase Sapphire Preferred Benefits

In addition to the limited-time offer of a 60,000 point bonus and accelerated earnings for travel, household and dining purchases, the Chase Sapphire Preferred features some of the best travel and purchase protections available.

$50 Annual Ultimate Rewards Hotel Credit

A statement credit will automatically be applied to your account when your card is used for hotel accommodation purchases made through the Ultimate Rewards program, up to an annual maximum accumulation of $50.

Annual means the year beginning with your account open date through the first statement date after your account anniversary. It’s important to note that the first $50 in Ultimate Rewards hotel purchases each year will not earn rewards points.

10% Anniversary Point Boost

Receive a 10% point bonus each account anniversary. The bonus is based on the number of points you earned throughout the previous year, excluding the sign-up bonus.

So if you earned 20,000 points using your Sapphire Preferred, then you’ll receive an anniversary bonus of 2,000 points.

Travel Protections

The Sapphire Preferred offers valuable travel insurance benefits including trip cancellation, trip interruption and baggage and trip delay protections.

  • Trip Cancellation: This policy covers you for up to $10,000 per person and $20,000 per trip for cancellation of a trip for a covered reason such as injuries or sickness of the traveler or an immediate family member, as well as severe weather, military orders or jury duty.
  • Trip Interruption: This policy also covers you for up to $10,000 per person and $20,000 per trip when your trip is interrupted for a covered reason.
  • Baggage Delay: This benefit can reimburse you for up to $100 per day for up to five days when your luggage is delayed for at least six hours.
  • Rental Car Insurance: This benefit covers your rental car for collision damage or theft, so long as you decline the optional insurance and pay for the rental with your card.

Purchase Protections

When shopping online or in-person, the Chase Sapphire Preferred includes purchase protection for damage or theft up to 120 days and an automatic extended manufacturer’s warranty where applicable.

  • Purchase Protection: Your purchases made with your card are covered for theft and accidental damage for 120 days from the date of purchase. The limit is $500 per claim and $50,000 per account.
  • Extended Manufacturer’s Warranty: This coverage offers you an additional year on your manufacturer’s warranty, up to $10,000 per claim and $50,000 per account.

DoorDash Benefit

Chase Sapphire Preferred cardholders also receive a complimentary DashPass subscription from the restaurant delivery service DoorDash. Although the DashPass is a limited-time benefit, it will last a minimum of one year after activating the offer by December 31, 2021.

Pay Yourself Back

Ultimate Rewards Points are worth 25% more when redeemed for purchases in current categories of grocery, dining, home improvement and contributions to select charities.

Chase Dining

Similarly, Ultimate Rewards Points are worth 25% more when redeemed through the new Chase Dining hub in Chase Ultimate Rewards. Cardmembers can explore the new Chase Dining Hub’s secure website.

Foreign Transaction Fees

The credit card issuer does not charge any foreign transaction fees for international purchases.

Chase Sapphire Preferred Credit Score

While Chase doesn’t detail the credit score needed to qualify for the Sapphire Preferred Card, it’s generally recommended to have a credit score of good to excellent (670-850) before applying. You can check and monitor all three of your credit reports for free and even potentially boost your credit score by several points using this free service.

Annual Fee

This credit card has an annual fee of $95 every cardholder anniversary. An annual fee is a set charge that occurs yearly. For credit cards with annual fees, the charge is applied to your account as soon as you are approved. You will see that same charge on your card anniversary. If you do not pay the annual fee in the billing statement you receive it, you will start to pay interest on it.

Average Percentage Yield (APR)

The Chase Sapphire Preferred APR is a variable regular APR based on creditworthiness. APR is the interest rate for a whole year, rather than just a monthly rate, as applied to whatever balance you carry from one statement period to the next. Chase will determine your APR during the approval process. However, APRs can fluctuate periodically as a credit card issuer adjusts its rates to the market.

Chase Ultimate Rewards Points

Chase Ultimate Rewards points are travel rewards points from the card issuer Chase. Points are best redeemed for non-refundable travel expenses, either through the Ultimate Rewards website or by transferring them to travel partners.

According to our points and miles valuation guide, Chase points are worth 2.1 cents each. That’s in the top tier of rewards points.

Do Chase Points Expire?

Ultimate Rewards points never expire as long as your account remains active and in good standing. When redeemed through the Chase website, you can use them for virtually any flight, hotel, rental car and other travel.

Can You Transfer Chase Points?

Chase travel rewards are powered by Expedia, so you can book just about anything through their portal directly with your Chase points. You can also transfer points to an airline or hotel partner at a 1:1 ratio. That means one Chase point is worth one United mile, one Marriott point or one point in any of the participating programs.

Chase Ecosystem

Another benefit to consider is that the Chase Sapphire Preferred is a vital part of what many people think of as the “Chase Ecosystem.” This refers to a number of credit cards offered by Chase that feature reward points that can be combined.

For example, when you have the Chase Freedom Flex℠, you can earn 5x points per dollar for purchases from select retailers and merchant categories. By itself, the rewards that you earn from the Chase Freedom are worth just 1 cent each. But when you also have a Chase Sapphire Preferred, then you can combine those rewards, and redeem them for 1.25 cents each for travel reservations.

Or, you can transfer your rewards to airline miles or hotel points. The same ability to combine points is true of the Chase Freedom Unlimited®, Ink Business Preferred℠ Credit Card and Ink Business Cash℠ Credit Card.

Redeeming and Transferring Sapphire Preferred Points

Points are worth 1.25 cents each when redeemed through the Chase Ultimate Rewards travel center, but they can also be transferred to airline and hotel partners at a 1:1 ratio. When you’re able to redeem these rewards for premium class international flights or hotel reservations during peak season, then it’s often possible to realize several cents in value per point redeemed.

For example, it’s not uncommon to redeem 15,000 points for a free night in a Hyatt hotel that costs several hundred dollars a night. Or, you can transfer 150,000 points to frequent flyer miles, which you can redeem for a business class ticket to Europe that would have cost over $5,000.

How to Transfer Points Between Chase Cards

To transfer points between one account and another, first login to Chase.com and select an account. Look for “See Balance” under the “Ultimate Rewards” heading, and then click “Redeem” or “Redeem Rewards.” That will bring you to the Ultimate Rewards home page, and one option will be “Combine Points” From there, you can select an airline or hotel program or your Chase Sapphire Preferred account. Then you’ll have to input your member ID number and confirm it. Finally, you’ll choose the number of points you wish to transfer in 1,000 point increments.

  1. Login to your Chase account and select one of your card accounts.
  2. Go to “See Balance” below “Ultimate Rewards.”
  3. Select “Redeem” or “Redeem Rewards” and look for the “Combine Points” option.
  4. Determine how many points you will transfer, confirm you member ID number and agree to transfer.

Thankfully, all points transfer to partners in a 1:1 ratio, and most transfers are instantaneous once confirmed. However, Singapore Airlines tend to take up to a day, and Marriott Bonvoy can take up to two days.

How To Transfer Chase Sapphire Points to Chase Ultimate Rewards Travel Partners

The very best value and use for points usually comes from moving your Chase points to a Chase Ultimate Rewards transfer partner. Don’t move points until you have a plan to use the resulting miles or points. Keeping them in the bank at Chase is the best strategy until you’re ready to book.

The key to getting maximum value from your Chase Ultimate Rewards points is transferring them to travel partners. To do so, first login to Chase.com and select your Chase Sapphire Preferred account. Look for “See Balance” under the “Ultimate Rewards” heading, and then click “Redeem” or “Redeem Rewards.” That will bring you to the Ultimate Rewards home page, and one option will be “Transfer to Travel Partners.” From there, you can select an airline or hotel program. Then you’ll have to input your member ID number and confirm it. Finally, you’ll choose the number of points you wish to transfer in 1,000 point increments.

  1. Login to your Chase account and select the Chase Sapphire Preferred account.
  2. Look for “See Balance” under the “Ultimate Rewards” heading and click “Redeem” or “Redeem Rewards.”
  3. Select “Transfer to Travel Partners” and review Chase’s current airline and hotel partners.
  4. Input the number of points to transfer, input and confirm your points transfer.

Thankfully, all points transfer to partners in a 1:1 ratio, and most transfers are instantaneous once confirmed. However, Singapore Airlines tend to take up to a day, and Marriott Bonvoy can take up to two days.

The list of Chase Ultimate Rewards airline partners includes:

  • Aer Lingus
  • Aeroplan/Air Canada
  • British Airways
  • Emirates
  • Flying Blue (Air France/KLM)
  • Iberia
  • JetBlue
  • Singapore Airlines (KrisFlyer)
  • Southwest
  • United Airlines
  • Virgin Atlantic

Chase Ultimate Rewards gives you access to all of the three big airline alliances. For example, you could use British Airways points to book flights on American Airlines.

Chase Ultimate Rewards hotel partners include mega-brands Hyatt, IHG, Marriott and Ritz-Carlton. Marriott has the biggest list of properties of any hotel chain in the world. The Hyatt program has gained popularity since Marriott launched its new Bonvoy program, however.

IHG also offers a large list of popular and luxury brands. In fact, Chase offers a fee-free IHG co-branded card that offers great value and a big signup bonus for a no-annual-fee credit card.

How to Upgrade Chase Sapphire Preferred to Chase Sapphire Reserve®

The Chase Sapphire Preferred is a great card for those who are just getting started earning travel rewards, and the credit card continues to be a solid choice for all but the most frequent travelers and hardcore award travel enthusiasts.

But if you ever find yourself wanting more, it’s pretty easy to call the credit card issuer and request a product change to the higher-end Chase Sapphire Reserve. With its $550 annual fee, the Chase Sapphire Reserve offers 3x points on travel and dining and 1X points on all other purchases. Additionally, it returns 1.5 cents in value per point redeemed towards travel reservations made through Chase Ultimate Rewards.

Much like its rival, the Platinum Card by American Express, the Chase Sapphire Reserve also features a Priority Pass™ Select airport lounge membership and a $300 annual travel credit. However, a side-by-side comparison of these three popular credit cards shows that both the Sapphire Preferred and the Sapphire Reserve are high-value travel cards for consumers.

 Chase Sapphire PreferredChase Sapphire ReservePlatinum Card from American Express
Annual Fee$95$550$550
Sign-Up Bonus60,000 bonus points50,000 bonus points60,000 Membership Rewards Points
Bonus RequirementSpend $4,000 in first 3 months of account openingSpend $4,000 in first 3 months of account openingSpend $5,000 in first 3 months of account opening
Rewards Rates5x points on travel booked through Chase, 3x points on dining, select streaming services and online groceries, 2x points on all other travel and 1x points on other purchases 10x points on hotels, rental cars and Chase Dining experiences booked via Chase, 10x points on Lyft, 5x points on air travel booked through Chase, 3x points on dining and travel and 1x points on other purchases5x points on flights with American Express Travel, 5x points on hotels with American Express Travel and 1x points on other purchases
Annual Credits$50 hotel credit
    $300 for travel-related expenses and a $120 DoorDash credit
    $200 for airline fees and a $200 Uber credit
Global Entry CreditNo$100$100
TSA Pre✓®No$100$100
Lounge AccessNoPriority Pass Select MembershipPriority Pass Select Membership
Travel ProtectionYesYesYes
Purchase ProtectionYesYesYes
Point TransfersYesYesYes
Foreign Transaction FeesNoNoNo

In addition to the credit card benefits listed above, the Sapphire Reserve offers a host of unexpected perks, including access to the Luxury Hotel & Resort Collection, Emerald Club Executive Level status with National Car Rental and Lyft Pink Elite Status, which gets you discounts on Lyft rides.

While the Sapphire Reserve comes with a hefty annual fee, many credit card enthusiasts feel it provides enough travel and non-travel value to justify the cost.

Is the Sapphire Preferred Right for You?

The Chase Sapphire Preferred Card is one of the gold standards for earning travel rewards. It starts you off with a generous sign-up bonus, and then continues to offer strong value by allowing you to earn double points on all travel and dining expenses.

But when it comes time to redeem your rewards for travel, this credit card really shines. You can take advantage of some really strong transfer partners such as United, Southwest, Singapore, Virgin Atlantic and Hyatt. Or, you can very easily just book any reservation you want through the Chase Ultimate Rewards travel center. Plus, the Chase Sapphire Preferred sign-up bonus is among our best credit card bonuses.

While we work hard on our research, we do not always provide a complete listing of all available offers from credit-card companies and banks. And because offers can change, we cannot guarantee that our information will always be up to date, so we encourage you to verify all the terms and conditions of any financial product before you apply.

Jason Steele
Jason Steele is a journalist who specializes in covering credit cards, award travel and other areas of personal finance. As one of the nation’s leading experts in the credit card industry, Jason’s work has been featured at mainstream outlets such as Yahoo! Finance, MSN Money and Business Insider.