Why the Chase Sapphire Preferred remains the top travel rewards credit card year after year
Editor's Note
The Chase Sapphire Preferred® Card (see rates and fees) is a consensus favorite among TPG staffers.
It has been named TPG's top travel rewards card for eight straight years, a remarkable streak in a market where cards launch, refresh and raise annual fees almost every year.
Thanks to its low annual fee, ability to earn Chase Ultimate Rewards points, excellent transfer partners, ease of use and generous travel benefits and protections, the Sapphire Preferred continues to strike a balance that few cards can match.
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.
Let's explore why the Chase Sapphire Preferred is named the top travel rewards card year after year.
Great for beginners, yet valuable for years
The Chase Sapphire Preferred was my first travel rewards credit card and it's still one of the most valuable cards in my wallet today. This card is just as useful for someone booking their first award flight as it is for seasoned points and miles enthusiasts.
It's the sibling of the Chase Sapphire Reserve® (see rates and fees), a premium travel rewards card with a $795 annual fee. The Sapphire Reserve has more benefits and perks than the Sapphire Preferred, but the Sapphire Preferred wins on simplicity and ease of use.
Additionally, if you're new to the world of points and miles, the welcome offer on the Chase Sapphire Preferred can jump-start your journey with a nice stash of one of the most valuable award currencies, per TPG's July 2026 valuations.
Related: Am I eligible for the Chase Sapphire Preferred's 100,000-point bonus?
New applicants can earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening. Per TPG's valuations, this offer is worth $2,050.
This marks the return of the highest offer we've seen in the card's history, so now is an excellent time to apply.
Related: Chase Sapphire Preferred vs. Sapphire Reserve: Which is better for you?
Low annual fee
At just $95 per year, the Chase Sapphire Preferred remains one of the easiest travel rewards cards to justify. It delivers many of the benefits travelers want without requiring them to pay the premium-card annual fee.
While you won't get perks like lounge access, you will get a solid card with excellent earnings rates and useful perks — including valuable statement credits.
The Sapphire Preferred offers a straightforward up to $100 statement credit each account anniversary year for prepaid hotel stays booked through Chase Travel℠.
If you use this credit every year, you'd completely offset the annual fee.
The card also offers up to $120 in statement credits for Global Entry, TSA PreCheck or Nexus every four years.
Finally, cardholders receive a one-year complimentary Apple TV subscription (activate by Dec. 31). You'll also get a complimentary DoorDash DashPass membership (valued at $120 each year; through Dec. 31, 2027; activation required) and a $10 DoorDash promo each month for non-restaurant orders for DashPass members (alcohol orders may be exempt; through Dec. 31, 2027).
Related: How I paid just $35 for a night away with the Chase Sapphire Preferred's hotel credit
Valuable bonus categories
One reason the Sapphire Preferred has remained a favorite for so long is that its bonus categories reflect how many people already spend their money.
Rather than rotating categories or keeping track of spending caps, the Sapphire Preferred rewards common purchases like dining, travel, gas, EV charging and vacation rentals.
The Sapphire Preferred earns:
- 5 points per dollar spent on travel booked through Chase Travel
- 5 points per dollar spent on Lyft rides (through Sept. 30, 2027)
- 5 points per dollar spent on Peloton equipment and accessory purchases of $150 or more (with a limit of 25,000 bonus points through Dec. 31, 2027)
- 3 points per dollar spent on gas, EV charging, vacation homes at select brands*, dining, select streaming services and online grocery store purchases (excludes Target, Walmart and wholesale clubs)
- 2 points per dollar spent on all other travel
- 1 point per dollar spent on everything else
*Select brands are Airbnb, Vrbo, Plum Guide, HomeAway, Homestay.com and Vacasa.
While there are a few other cards with higher earnings rates in certain categories, these cards usually come with higher annual fees or are limited to spending caps in select bonus categories.
Related: Value simplicity? Why the Chase Sapphire Preferred is now the only card you need
Flexible redemptions and transfers
The Chase Sapphire Preferred earns Ultimate Rewards points that can be redeemed in several ways.
Points can be redeemed for travel booked through the Chase Travel portal at a value of up to 1.75 cents per point (depending on the specific redemption; see your rewards program agreement for full details), a statement credit at 1 cent per point (at times higher if you use Chase's Pay Yourself Back feature) or gift cards at 1 cent per point.
You can also redeem points by transferring them to partners, our favorite redemption option. Based on TPG's valuations, Ultimate Rewards points are worth 2.05 cents each through this redemption route.
Chase has a solid roster of transfer partners who offer incredible sweet-spot redemptions where you can get outsize value for your points.
Some of the Sapphire Preferred's transfer partner highlights are Air Canada Aeroplan, Southwest Rapid Rewards and World of Hyatt.
It's important to note that new Sapphire Preferred cardholders who applied on or after June 15, 2026, can transfer Chase points to World of Hyatt at a 4:3 rate. Existing Sapphire Preferred cardholders will move to the 4:3 rate on Oct. 1, 2026.
Related: How to transfer Chase points to Hyatt: A step-by-step guide
Travel protections and perks
The Chase Sapphire Preferred also offers some of the strongest travel protections you'll find on a $95 annual fee card.
These include:
- Baggage delay insurance and lost luggage reimbursement
- Emergency evacuation and transportation coverage
- Primary rental car coverage
- Purchase protection and extended warranty protection
- Trip delay and cancellation insurance
Even if you travel only once or twice a year, these protections can add peace of mind if your travel plans go awry. Additionally, the purchase and extended warranty protection can be beneficial for large purchases.
Related: How my Chase Sapphire Preferred saved me nearly $250 on a canceled trip
Bottom line
Plenty of travel rewards cards shine in one area. Some offer airport lounge access, while others have higher earning rates or luxurious perks.
The Chase Sapphire Preferred has remained TPG's top travel rewards card because it strikes the best overall balance. Its modest annual fee, flexible rewards, excellent transfer partners and valuable travel protections make it just as compelling for someone opening their first rewards card as they do for experienced travelers.
That's why the Sapphire Preferred has earned TPG's top travel rewards card title for eight consecutive years and why it's still the card I'd recommend to almost anyone getting started with travel rewards.
To learn more about the card, read our full review of the Chase Sapphire Preferred.
Apply here for the Chase Sapphire Preferred: For a limited time, earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.