60,000-point bonus for a top travel card: Chase Sapphire Preferred credit card review

Apr 15, 2022

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Editor’s note: This post has been updated with the latest credit card information.


Chase Sapphire Preferred Card overview

The Chase Sapphire Preferred Card is one of the best-known travel rewards credit cards, featuring 5 points per dollar on travel booked through the Chase travel portal and 3 points per dollar on dining, select streaming services and online grocery store purchases (excluding Target, Walmart and wholesale clubs). These valuable points can be transferred to airline and hotel partners or redeemed directly for travel at a rate of 1.25 cents per point through Chase Ultimate Rewards. Card rating*: ⭐⭐⭐⭐½

*Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

As many travelers look ahead to a busy summer (and beyond), we keep getting asked a familiar question for those planning trips: Which travel credit card should you start with?

To be honest, TPG readers ask that question a lot, not just ahead of busy travel seasons. And we almost universally recommend the Chase Sapphire Preferred Card. It earns one of our favorite rewards currencies. It offers lucrative perks. And it features a low annual fee. In fact, many of us started our journey into points and miles with the Chase Sapphire Preferred.

The card is offering a sign-up bonus of 60,000 Ultimate Rewards points after you spend $4,000 on purchases in the first three months from account opening.

Here’s what you need to know about the Chase Sapphire Preferred.


Ready to get the card? Apply here for the Chase Sapphire Preferred


In This Post

Who is the Chase Sapphire Preferred for?

The Chase Sapphire Preferred is designed to work for both frequent and casual travelers. With a $95 annual fee, it’s not an expensive card, which makes it a good choice for beginners.

I also recommend starting your journey into the world of loyalty points with Chase cards, because you need to strategically plan around Chase’s 5/24 rule regarding applications. The Sapphire Preferred is definitely worth considering for one of your coveted five slots for opening new cards within two years.

Related: Who should (and who shouldn’t) get the Chase Sapphire Preferred?

Chase Sapphire Preferred sign-up bonus

With the Chase Sapphire Preferred, you’ll earn a sign-up bonus of 60,000 points after you spend $4,000 on purchases in the first three months from account opening, enough to take you just about anywhere in the world you want to go.

This haul of points is worth a minimum of $750 when redeemed for travel through the Chase portal, but if you maximize Chase’s transfer partners, TPG’s valuations peg the full value of the bonus at a whopping $1,200.

Transfer your Chase Ultimate Rewards to Hyatt and get free hotel nights worldwide. (Photo by Summer Hull / The Points Guy)
Transfer your Chase Ultimate Rewards to Hyatt and get free nights worldwide at properties like the Grand Hyatt Kauai. (Photo by Summer Hull/The Points Guy)

Main benefits and perks

In addition to the sign-up bonus, there are many appealing perks on the Sapphire Preferred.

$50 annual hotel credit

In Aug. 2021, Chase revealed a slew of exciting changes to its Sapphire cards, including the Sapphire Preferred. One of these new perks was a $50 statement credit on hotel stays purchased through the Chase Ultimate Rewards travel portal upon opening the card, as well as each following cardmember anniversary. It’s automatically applied to your account each year when you make an eligible charge. Note that the $50 credit does not earn Chase Ultimate Rewards points.

If you open the card now, you’ll receive access to the credit immediately. Existing cardmembers won’t receive the credit until after their next account anniversary.

Related: How to use the new $50 hotel credit on the Chase Sapphire Preferred

10% annual points bonus

Another change Chase added to the card is a 10% anniversary points bonus. Cardholders will receive a 10% bonus based on their total spending during the account anniversary year at a rate of 1 point for each $1 spent. For example, if you spent $100,000 on your Sapphire Preferred during your cardmember year, you’ll receive 10,000 bonus points at the end of the year.

Note that this 10% is calculated on the dollars you spend rather than the points you earned. You thus don’t receive additional points by leveraging the card’s bonus categories.

DoorDash

The Chase Sapphire Preferred also includes at least one year of complimentary DashPass membership with DoorDash, which gives you free delivery and reduced service fees on eligible purchases. There is a cost associated with using food delivery services such as DoorDash, but this can be a valuable benefit if you already use the service.

A DoorDash Inc. delivery bag sits on the floor at Chef Geoff's restaurant in Washington, D.C., U.S., on Thursday, March 26, 2020. As the wheels of government turn too slowly for small businesses desperate for a piece of the $2 trillion U.S. relief package due to the coronavirus pandemic, restaurateur Geoff Tracy is using GoFundMe to raise money for 150 hourly workers at his American comfort food standby Chef Geoff's and other restaurants. Photographer: Andrew Harrer/Bloomberg via Getty Images
The Chase Sapphire Preferred now receives a one-year DashPass membership with DoorDash. (Photo by Andrew Harrer/Bloomberg via Getty Images)

Travel protections

This card is an ideal choice to pay for travel bookings such as car rentals, cruises, plane tickets and hotels because of the comprehensive travel and purchase protections it affords. Among them, cardholders can expect the following:

You can read more about the Chase Sapphire Preferred shopping and travel benefits here.

How to earn points

The Chase Sapphire Preferred comes with a simple earning structure that is easy to maximize. Here’s what you’ll earn:

  • 5 points per dollar on travel booked through the Chase travel portal.
  • 5 points per dollar on Peloton Bike, Tread and Guide purchases over $450, with a maximum earning of 25,000 points (through June 2022).
  • 5 points per dollar on Lyft (through March 2025).
  • 3 points per dollar on dining, select streaming services and online grocery store purchases (excludes Target, Walmart and wholesale clubs).
  • 2 points per dollar on all travel not booked through the Chase travel portal.
  • 1 point per dollar on everything else.

How to redeem points

When you’re ready to redeem the points you’ve earned with the Chase Sapphire Preferred, you’ll understand why the card shines. Here are some ways you can use your Ultimate Rewards.

Chase Ultimate Rewards travel portal

You can use your points to purchase airfare, reserve hotel rooms and even rent a car through Chase Travel — all at a fixed rate of 1.25 cents per point. That means you don’t need to worry about blackout dates or finding award space; you’ll always have the option to book travel using your points. As long as there’s a seat for sale on the flight you want, or a hotel room available to reserve with cash, you’ll be able to pay for it with your points.

Transfer to Chase travel partners

It’s possible to receive much more than 1.25 cents per point in value by transferring rewards to Chase airline and hotel partners, though.

Hyatt Andaz Mayakoba. (Photo by Summer Hull/The Points Guy)

Some of the best Chase transfer partners include HyattUnited, British Airways and Singapore Airlines for fancy hotels or plane seats.

Chase Pay Yourself Back

Through June 2022, you can use the Chase “Pay Yourself Back” feature to redeem your points at 1.25 cents each to offset purchases made at Airbnb and with select charitable organizations. Chase also just added new charities to specifically support relief efforts in Ukraine.

Related: How to donate points and miles to help Ukraine

Which cards compete with the Chase Sapphire Preferred?

There are many worthwhile mid-tier travel credit cards, but the Capital One Venture Rewards Credit Card is the one that goes toe-to-toe with the Sapphire Preferred. The card currently offers the following:

*Benefits only available to accounts approved for the Visa Signature card. Terms apply.

If trying to decide between these two cards, think about which one’s earning formula suits your spending habit, and which one’s transfer partners you’re more likely to maximize.

Related: Chase Sapphire Preferred vs. Capital One Venture Card

Another alternative option would be a cobranded card with a specific airline or hotel program. These aren’t nearly as flexible as the Sapphire Preferred, but if you’re flying predominantly with one airline or staying frequently at properties under a specific hotel umbrella, those perks may come in handy.

Is the Chase Sapphire Preferred worth the annual fee?

The Chase Sapphire Preferred is worth opening if:

  1. You can achieve the 60,000-point sign-up bonus.
  2. You’re looking for valuable travel protections.
  3. You currently hold the Chase Freedom Unlimited and/or Chase Freedom Flex card.

When you carry the Sapphire Preferred along with one of these cards, you can freely move points from one account to another, effectively augmenting the value of your Freedom earnings by translating them from cash-back rewards into fully transferable Ultimate Rewards points.

The Chase Sapphire Preferred continues to represent a solid value proposition for a wide swath of the public. So long as you’re using the card frequently enough to get more than $95 in value from the rewards earned and benefits utilized, this card is definitely worth the annual cost.

Bottom line

If you’re ready to move beyond cash-back or fixed-value travel rewards credit cards, there is no better place to start than with the Chase Sapphire Preferred.

After its debut a decade ago, it’s still regarded as one of the best rewards credit cards. It earns some of the most valuable points around, and it’s flexible enough to meet the travel rewards needs of practically every points and miles skill level. It also comes with a low enough price tag for many to be able to give it a try.


Apply here for the Chase Sapphire Preferred with a 60,000-point bonus.


Additional reporting by Ryan Wilcox, Chris Dong, Stella Shon, Jennifer Yellin, Joseph Hostetler and Eric Rosen.

Featured photo by Wyatt Smith/The Points Guy.

Delta SkyMiles® Platinum American Express Card

Earn 90,000 bonus miles after you spend $3,000 in purchases on your new Card in your first 3 months. Offer ends 8/3/2022.

With Status Boost™, earn 10,000 Medallion Qualification Miles (MQMs) after you spend $25,000 in purchases on your Card in a calendar year, up to two times per year getting you closer to Medallion Status. Earn 3X Miles on Delta purchases and purchases made directly with hotels, 2X Miles at restaurants and at U.S. supermarkets and earn 1X Mile on all other eligible purchases. Terms Apply.

Apply Now
More Things to Know
  • Limited Time Offer: Earn 90,000 bonus miles after you spend $3,000 in purchases on your new Card in your first 3 months. Offer ends 8/3/2022.
  • Earn up to 20,000 Medallion® Qualification Miles (MQMs) with Status Boost® per year. After you spend $25,000 in purchases on your Card in a calendar year, you can earn 10,000 MQMs up to two times per year, getting you closer to Medallion® Status. MQMs are used to determine Medallion® Status and are different than miles you earn toward flights.
  • Earn 3X Miles on Delta purchases and purchases made directly with hotels.
  • Earn 2X Miles at restaurants worldwide including takeout and delivery in the U.S., and at U.S. supermarkets.
  • Earn 1X Miles on all other eligible purchases.
  • Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. Payment of the government imposed taxes and fees of no more than $80 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
  • Enjoy your first checked bag free on Delta flights.
  • Fee Credit for Global Entry or TSA PreCheck® after you apply through any Authorized Enrollment Provider. If approved for Global Entry, at no additional charge, you will receive access to TSA PreCheck.
  • Enjoy an exclusive rate of $39 per person per visit to enter the Delta Sky Club® for you and up to two guests when traveling on a Delta flight.
  • No Foreign Transaction Fees.
  • $250 Annual Fee.
  • Terms Apply.
  • See Rates & Fees
Regular APR
17.24%-26.24% Variable
Annual Fee
$250
Balance Transfer Fee
N/A
Recommended Credit
Excellent/Good
Terms and restrictions apply. See rates & fees.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.