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The Chase Sapphire Preferred® Card (see rates and fees) has long been one of the best travel rewards cards for beginners — and for good reason.
With strong earning rates on everyday spending, flexible Chase Ultimate Rewards points and a modest $95 annual fee, it delivers outsize value for beginners (as well as seasoned travelers). Plus, Chase just introduced several new earning rates and perks to the card, providing more value to cardholders without raising the annual fee.
Below, we’ll break down its current bonus, ongoing perks and why the Sapphire Preferred continues to earn a spot in so many travelers’ wallets.
Chase Sapphire Preferred current offer
New Sapphire Preferred cardholders can earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
According to our June 2026 valuations, this offer is worth up to $2,050.
This is a return of the highest offer we’ve seen in the card’s history.
Now is an excellent time to get the Sapphire Preferred, since the welcome offer alone provides more than $2,000 in value thanks to its valuable transferable rewards.
Chase Ultimate Rewards points are among the most valuable transferable currencies available, thanks to a robust roster of airline and hotel partners and high-value redemption options.
Related: Best welcome offers of the month
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Why you should apply for the Chase Sapphire Preferred
The Sapphire Preferred is well worth opening — and keeping beyond the first year, partly because it is easy to rack up points after you’ve spent the welcome bonus.
The Chase Sapphire Preferred has many generous bonus-earning categories. Plus, the card has recently announced two new bonus categories, along with an enhancement to its Chase Travel℠ category.
You’ll earn:
- 5 points per dollar spent on all Chase Travel purchases, including flights, hotels, rental cars, vacation homes*, cruises, activities and tours
- 5 points per dollar spent on Lyft (through Sept. 30, 2027)
- 5 points per dollar spent on eligible Peloton equipment and accessory purchases over $150 (through Dec. 31, 2027)
- NEW: 3 points per dollar spent on gas and electric vehicle charging
- NEW: 3 points per dollar spent on vacation homes booked with top brands^
- 3 points per dollar spent on dining
- 3 points per dollar spent on select streaming services
- 3 points per dollar spent on online groceries (excluding Target, Walmart and wholesale clubs)
- 2 points per dollar spent on all other travel purchases
- 1 point per dollar spent on all other purchases
*New category
^Vacation home brands included in this category: Airbnb, Vrbo, Plum Guide, HomeAway, Homestay.com and Vacasa
The Sapphire Preferred has also increased its annual hotel statement credit, doubling it from $50 to $100. The credit can be used for prepaid hotel stays booked through Chase Travel and is available each account anniversary year.
New cardholders who apply on or after June 15 will no longer be eligible for the Sapphire Preferred’s 10% annual points bonus.
However, new and current cardholders will receive two new perks:
- A one-year complimentary Apple TV subscription (when activated by Dec. 31)
- Up to $120 in statement credits for Global Entry, TSA PreCheck or Nexus every four years
Cardholders will also receive a complimentary DoorDash DashPass membership (a value of $120 per year) and a monthly $10 credit for eligible non-restaurant DoorDash purchases.
Additionally, Ultimate Rewards points can be transferred to multiple airline and hotel partners, including valuable programs such as Air Canada Aeroplan and Air France-KLM Flying Blue, at a 1:1 ratio.
It’s important to note that Chase is reducing the World of Hyatt transfer ratio. If you apply on or after June 15, transfers to World of Hyatt will occur at a 4:3 ratio instead of 1:1, resulting in fewer Hyatt points for the same number of Ultimate Rewards points transferred. Existing cardholders and those who applied before June 15 can continue transferring at the 1:1 ratio until Oct. 1.
Despite the Hyatt transfer change, Ultimate Rewards points remain highly valuable thanks to Chase’s airline and hotel partners, which can unlock aspirational business-class tickets or picturesque stays at island resorts for far less than their cash equivalent.
Related: Why I love my Chase Sapphire Preferred Card — and will always keep it in my wallet
Bottom line
The Sapphire Preferred remains one of the top travel rewards credit cards on the market. Its current 100,000-point welcome bonus matches the highest offer we’ve seen in the card’s history, making now an excellent time to add it to your wallet.
Despite the Hyatt transfer devaluation, the Sapphire Preferred’s latest changes to earning rates and statement credits are a net positive overall — especially considering its annual fee remains unchanged at $95.
It’s no wonder so many TPG staffers continue to carry the Sapphire Preferred year after year. Given its easy-to-maximize perks, strong earning rates and valuable Ultimate Rewards points, it deserves a place in any traveler’s wallet.
To learn more, read our full review of the Sapphire Preferred.
Apply now: Chase Sapphire Preferred Card
