The Chase Sapphire Preferred® Card has long been recognized for its solid rewards structure and relatively low annual fee, and a recent refresh adds new benefits while keeping the fee unchanged.
The annual fee remains at $95, and cardholders now receive an annual statement credit of up to $100 for prepaid hotel bookings made through Chase Travel, a credit for Global Entry, TSA PreCheck or Nexus every four years, a complimentary one‑year Apple TV subscription, and a DoorDash DashPass membership valued at $120 per year.
New bonus categories include 3 points per dollar on gas and electric‑vehicle charging, 3 points per dollar on vacation‑home bookings through major platforms, and 3 points per dollar on dining, streaming services and online grocery orders, while travel purchases continue to earn 5 points per dollar.
Cardholders retain access to Chase’s 14 transfer partners, such as World of Hyatt, United Airlines and Air Canada Aeroplan, though the transfer ratio for World of Hyatt shifts from 1:1 to 4:3 beginning October 1 for existing accounts and immediately for new accounts opened after the refresh.
Key advantages include participation in the Chase Ultimate Rewards ecosystem, premium travel protections, and the suite of annual credits that can offset the fee for many users.
Limitations consist of the $95 annual fee, the absence of airport lounge access, and the less favorable Hyatt transfer ratio, which may affect members who rely heavily on that partner.
Rewards earn rates are structured as follows: 5 points per dollar on Chase Travel purchases, 5 points per dollar on Lyft rides through September 2027, 5 points per dollar on eligible Peloton equipment through December 2027, 3 points per dollar on gas, EV charging, vacation homes, dining, streaming and online groceries, 2 points per dollar on other travel spending, and 1 point per dollar on all remaining purchases.
Points can be redeemed for statement credits, gift cards, Amazon purchases, or travel booked through Chase Travel, where the Points Boost feature can increase redemption value to up to 1.75 cents per point; transferring points to airline and hotel partners often yields higher value, sometimes exceeding 2 cents per point.
Compared with the Chase Sapphire Reserve, which carries a $795 annual fee and offers larger travel credits, lounge access, and higher earning rates, the Preferred version provides a more affordable entry point for travelers who do not require premium perks.
The card is best suited for beginners and flexible travelers who prioritize straightforward rewards, annual travel credits, and the ability to transfer points, while those seeking lounge access or a higher Hyatt transfer ratio may consider alternative premium cards.
