Why I’m keeping my Chase Sapphire Preferred Card forever
Editor's Note
Over the years, I've thought of giving up my Chase Sapphire Preferred® Card (see rates and fees) a few times, mostly because I am intrigued by the Chase Sapphire Reserve® (see rates and fees), but I've realized you can't really beat the benefits ... especially for a card with such a low annual fee.
The card earns a solid 2 Chase Ultimate Rewards points per dollar spent on travel and 3 points per dollar spent on dining while delivering exceptional travel protection benefits — rarely seen in a credit card with an annual fee under $100.
It also provides outstanding travel redemption possibilities when transferring points to one of Chase's valuable transfer partners, such as United Airlines, Hyatt and British Airways.
So why have I decided to keep the Chase Sapphire Preferred Card in my wallet indefinitely? Here are just a few reasons.
Valuable transfer partners
For me, the World of Hyatt program is the single most valuable transfer partner of the Chase Ultimate Rewards program. Ultimate Rewards points transfer to Hyatt at a 1:1 ratio and it's easy to get outsize value at Hyatt properties (like the Park Hyatt London River Thames).
I've stayed at Hyatts in Vienna, Maui and Paris using my transferred Chase points over the years. It's by far my favorite way to use my Chase points.
Ultimate Rewards points can also be transferred at a ratio of 1:1 to another of my favorite transfer partners, Air France-KLM Flying Blue. I've transferred my Chase points to Flying Blue for some amazing redemptions.
Just one example? I flew from Newark to Paris in Air France business class for just 50,000 Flying Blue miles (after a devaluation, the lowest rate is now 60,000 miles, but that's still a great deal).
Chase Ultimate Rewards has other great transfer partners, including British Airways, Air Canada and Singapore Airlines.
Related: Sweet spots that get you more value for your Ultimate Rewards
Good-value redemptions
I also like earning points with my Chase Sapphire Preferred Card. It's a full-fledged Chase Ultimate Rewards points-earning card, just like the Chase Sapphire Reserve or Ink Business Preferred® Credit Card (see rates and fees). That means I can book travel through Chase Travel℠.
Or I can transfer points to one of Chase's 14 travel partners (11 airlines and three hotel chains).
As a Chase Sapphire Preferred cardholder, I can redeem points via Chase Travel for up to 1.75 cents apiece, depending on the specific redemption (see your rewards program agreement for full details).
Related: The power of the Chase Trifecta
Statement credits
One of my favorite features of my Sapphire Preferred Card is the once-yearly statement credit on hotels booked via Chase Travel. I've been able to use the credit every year to offset one of my hotel stays.
Last year, on my quest to visit all 50 states, I stayed at the fun AC Hotel by Marriott Little Rock Downtown for about $190. After the statement credit, it cost me just $140.
That's more than half the annual fee right there.
I've also taken advantage of many Chase Offers over the years for extra savings. I've saved $190.49 in statement credits simply by enrolling in offers for stores, restaurants and services I would have shopped at anyway.
Primary car rental insurance
I also like the ability to decline the car rental company's offer of a "collision damage waiver."
The Sapphire Preferred (along with some other premium credit cards) provides primary car rental insurance, which allows holders to decline those added fees but still have insurance.
If you are in an accident in your rental vehicle, this coverage reimburses you for the damage or replaces the vehicle.
All that's required to add the extra layer of protection when renting a car is to pay the rental with your Chase Sapphire Preferred, and you'll be protected if any unfortunate accident occurs.
There's also trip cancellation and interruption insurance, so I'm backed up in case things go sideways during my travels.
Related: Credit cards that offer car rental coverage
Ultimate Rewards points really add up
I travel quite a bit, and I love earning 2 points per dollar spent on travel and 3 points per dollar spent on dining with the Sapphire Preferred. I've also enjoyed earning 5 points per dollar spent on travel booked via the Chase Travel portal and the 5 points per dollar spent on Lyft rides (through September 2027).
As an added perk, the Sapphire Preferred runs on the Visa payment network, so I am virtually guaranteed acceptance with most merchants I frequent while traveling outside the U.S. That's not always the case with American Express.
Oh, and no foreign transaction fees.
Bottom line
I've been on a bit of a speaking circuit recently, and I've been strongly advocating for newbies to sign up for the Chase Sapphire Preferred Card. It's a great beginner card.
It's currently offering a welcome bonus of 75,000 Ultimate Rewards points after you spend $5,000 on purchases in the first three months from account opening.
The Chase Sapphire Preferred stays in my wallet year after year. I easily get more in value than the $95 annual fee. I'm keeping this card for the long haul.
To learn more, read our full review of the Chase Sapphire Preferred.
Apply here: Chase Sapphire Preferred Card
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| 3X | Earn 3X Miles on Delta purchases. |
| 1X | Earn 1X Miles on all other eligible purchases. |
Pros
- Delta SkyClub access when flying Delta
- Annual companion ticket for travel on Delta (upon renewal)
- Ability to earn MQDs through spending
- Various statement credits for eligible purchases
Cons
- Steep annual fee of $650
- Other Delta cobranded cards offer superior earning categories
- Earn 100,000 Bonus Miles after you spend $6,000 or more in purchases with your new Card within the first 6 months of Card Membership and an additional 25,000 bonus miles after you make an additional $3,000 in purchases on the Card within your first 6 months, starting from the date that your account is opened. Offer Ends 04/01/2026.
- Delta SkyMiles® Reserve American Express Card Members receive 15 Visits per Medallion® Year to the Delta Sky Club® when flying Delta and can unlock an unlimited number of Visits after spending $75,000 in purchases on your Card in a calendar year. Plus, you’ll receive four One-Time Guest Passes each Medallion Year so you can share the experience with family and friends when traveling Delta together.
- Enjoy complimentary access to The Centurion® Lounge in the U.S. and select international locations (as set forth on the Centurion Lounge Website), Sidecar by The Centurion® Lounge in the U.S. (see the Centurion Lounge Website for more information on Sidecar by The Centurion® Lounge availability), and Escape Lounges when flying on a Delta flight booked with the Delta SkyMiles® Reserve American Express Card. § To access Sidecar by The Centurion® Lounge, Card Members must arrive within 90 minutes of their departing flight (including layovers). To access The Centurion® Lounge, Card Members must arrive within 3 hours of their departing flight. Effective July 8, 2026, during a layover, Card Members must arrive within 5 hours of the connecting flight.
- Receive $2,500 Medallion® Qualification Dollars with MQD Headstart each Medallion Qualification Year and earn $1 MQD for each $10 in purchases on your Delta SkyMiles® Reserve American Express Card with MQD Boost to get closer to Status next Medallion Year.
- Enjoy a Companion Certificate on a Delta First, Delta Comfort, or Delta Main round-trip flight to select destinations each year after renewal of your Card. The Companion Certificate requires payment of government-imposed taxes and fees of between $22 and $250 (for itineraries with up to four flight segments). Baggage charges and other restrictions apply. Delta Basic experiences are not eligible for this benefit.
- $240 Resy Credit: When you use your Delta SkyMiles® Reserve American Express Card for eligible purchases with U.S. Resy restaurants, you can earn up to $20 each month in statement credits. Enrollment required.
- $120 Rideshare Credit: Earn up to $10 back in statement credits each month after you use your Delta SkyMiles® Reserve American Express Card to pay for U.S. rideshare purchases with select providers. Enrollment required.
- Delta SkyMiles® Reserve American Express Card Members get 15% off when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app. Discount not applicable to partner-operated flights or to taxes and fees.
- With your Delta SkyMiles® Reserve American Express Card, receive upgrade priority over others with the same Medallion tier, product and fare experience purchased, and Million Miler milestone when you fly with Delta.
- Earn 3X Miles on Delta purchases and earn 1X Miles on all other eligible purchases.
- No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
- $650 Annual Fee.
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
- See Rates & Fees