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.
Limited-time offer on the Chase Sapphire Preferred: Earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening. Offer ending soon.
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 Card holders can earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening. Chase has confirmed this offer ends soon.
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According to our July 2026 valuations, this offer is worth $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: Value simplicity? Why the Chase Sapphire Preferred is now the only card you need
What is this bonus worth?
You can redeem the 100,000-point bonus on the Sapphire Preferred in three ways: statement credits, through the Chase Travel℠ portal or by transferring to loyalty program partners.
With each of these methods, the value you get from this offer depends on how you redeem it.
Here is a collection of some examples:
| Statement credits | Chase Travel portal | Transferring to partners |
|---|---|---|
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Related: The Chase Sapphire Preferred’s 100,000-point offer is back. Why I wouldn’t wait
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.
Highest-ever offer ending soon: Earn 100,000 bonus points with the Chase Sapphire Preferred Card. Apply now!
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:
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.
Travel and purchase protections on the Chase Sapphire Preferred
The Chase Sapphire Preferred provides multiple lesser-known benefits that could come in clutch for select cardholders.
These include the following travel and purchase protections:
Related: Why I love my Chase Sapphire Preferred Card — and will always keep it in my wallet
Are you eligible for the Chase Sapphire Preferred?
Before applying, there are a few eligibility rules to keep in mind.
First, Chase’s well-known 5/24 rule means you’re unlikely to be approved if you’ve opened five or more new personal credit cards (from any issuer) in the past 24 months.
You’ll also need to meet Chase’s Sapphire bonus eligibility requirements. To earn the welcome bonus:
- You can’t currently have the Sapphire Preferred open.
- If you’ve previously earned a welcome bonus on the Sapphire Preferred, it’s unlikely you’ll be eligible for another one.
- Chase may also consider factors such as your overall card history and the number of cards you’ve opened or closed recently.
Think you’re not eligible for another Chase Sapphire Preferred welcome bonus? TPG’s editor-in-chief, Nick Ewen, thought the same until he was approved. Here’s what he did.
Related: Am I eligible for the Chase Sapphire Preferred’s 100,000-point bonus?
Bottom line
The Sapphire Preferred remains one of the top travel rewards credit cards on the market.
The limited-time 100,000-point welcome bonus matches the highest offer we’ve seen for the card. Combined with its $95 annual fee, valuable transfer partners, improved earning rates and easy-to-use statement credits, it’s one of the strongest values available in travel rewards right now.
Despite the Hyatt transfer devaluation, the Sapphire Preferred’s latest changes more than make up for it for many travelers.
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.
If you’ve been considering adding the Sapphire Preferred to your wallet, this rare offer is well worth taking advantage of before it ends.
To learn more, read our full review of the Sapphire Preferred.
Offer ending soon: Apply now for the Chase Sapphire Preferred Card to earn 100,000 points after spending $5,000 on purchases in the first three months from account opening.
