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Chase Sapphire Preferred Card: Worth $95?!

Use this Chase Sapphire Preferred calculator to estimate points, credits, bonus value, and whether the $95 annual fee is worth it.

Written by: Sebastian FungLast updated: April 30, 2026
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The Chase Sapphire Preferred® Card is a travel card that lets you redeem points through Chase Travel℠ at up to 1.75x. It's a basic travel card with good spend multipliers and benefits. Is the Chase Sapphire Preferred worth the $95 annual fee?

The Chase Sapphire Preferred can be worth it if you use Chase Ultimate Rewards points for travel, transfer points to partners, or value the card’s travel protections and $50 Chase Travel hotel credit. It is harder to justify if you rarely travel, prefer simple cash back, or do not use Chase Travel or transfer partners.
Use the calculator below to estimate your first-year value, ongoing value, points earned from spend, and whether the card makes sense for your setup.
✈️ Best Beginner Travel Card
card art for the Chase Sapphire Preferred® Card cardChase Sapphire Preferred® Card
Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.

Annual fee: $95

Sebby’s Take: One of the best starting points into the travel rewards world. You have flexible points, strong multipliers, a reasonable annual fee, and tons of optionality (whether team cash back or travel).

View Offer

Intro Bonus and Eligibility

The Chase Sapphire suite of cards has dramatically updated application rules with the 2025 relaunch:

  • Chase has officially removed the 48-month rule for Sapphire cards.
  • Intro bonus limitations are no longer time-based (48-month lookback period for eligibility).
     

Once-Per-Lifetime Rule:

  • You are now limited to receiving only one intro bonus per card.
  • This applies to Sapphire cards, including: Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, and Sapphire Reserve for Business℠.
  • Once you have received an intro bonus for one of the cards, you won't be able to earn it again on the same card.
  • This is retroactive (so if you've received a bonus for the Chase Sapphire Preferred® Card in the past, you won't be able to earn it again)
     

Active Sapphire Rule:

  • If you're an active holder of any Sapphire card, you won't be eligible for the intro bonus of a different Sapphire product, even though you can hold both at the same time.
  • For example, if you currently hold the Chase Sapphire Preferred® Card, you can apply and get approved for the Chase Sapphire Reserve®, but since you had an active Sapphire card, you won't be eligible for the bonus (even if you otherwise would be).
     

Past Sapphire Rule:

  • If you were previously a Sapphire member but downgraded or canceled, you're eligible for other Sapphire bonuses, as long as you've never had that specific card before.
  • For example, if you previously had the Chase Sapphire Preferred® Card and canceled it a few months ago, you're eligible for the Chase Sapphire Reserve® intro bonus (as long as you've never received an intro bonus for the latter).
  • The system needs to recognize that you're no longer a Sapphire customer, and the best practice is to wait 1-2 weeks from downgrading or canceling (to avoid the risk of triggering the Active Sapphire Rule above).
  • For example, if you have the Chase Sapphire Preferred® Card (ideally for 12+ months) but want the Chase Sapphire Reserve® (and to receive the intro bonus), then you should downgrade the former and wait ~2 weeks before applying for the latter.
     

Chase 5/24 Rule:

  • The Chase Sapphire cards are affected by the Chase 5/24 rule.
  • If you have opened more than 5 accounts from any credit card issuer in the past 24 months, you might not qualify for the card.

Chase Sapphire Preferred® Card calculator

Ask Sebby crunches the numbers for you to calculate the Expected Value of the Chase Sapphire Preferred® Card. For the expected value of points, we derive the approximate dollar value based on the numbers you enter in the calculator. Scroll down to the end of the post to see our methodology.

The calculator below contains default figures and serve as an example only. Users should insert their own data for the most accurate results.

Calculation Methodology

The results from the above calculator are based on your ability to reach the minimum spend requirement to earn the welcome offer, your amount of spend on different categories, how you plan to redeem Chase Ultimate Rewards®, and how much relative value you assign to the other benefits.  

The “Years” referenced in the calculator refer to the cardmember year, based on when you are approved for the card.

  • Year 1 = first 12 months of card membership
  • Year 2 = the following 12 months afterward
✈️ Best Beginner Travel Card
card art for the Chase Sapphire Preferred® Card cardChase Sapphire Preferred® Card
Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.

Annual fee: $95

Sebby’s Take: One of the best starting points into the travel rewards world. You have flexible points, strong multipliers, a reasonable annual fee, and tons of optionality (whether team cash back or travel).

View Offer

Chase Sapphire Preferred® Card

Spending Multipliers:

  • Earn 2X points on travel purchases including airfare, hotels, cruises, and rideshare
  • 5X total points on all travel purchased through Chase Travel℠
  • 3X points on dining purchases including fine dining, coffee shops, fast food restaurants, and eligible delivery services
  • 3X points on select streaming services
  • 3X points on online grocery purchases (excluding Target, Walmart and wholesale clubs)
  • Earn 1X points on all other purchases

Other Benefits:

  • $50 Annual Credit on hotel stays purchased through Chase Travel℠. New cardmembers will start earning towards the credit immediately and existing cardmembers will start earning after their next account anniversary.
  • 10% Anniversary Point Bonus. Each account anniversary, cardmembers will earn bonus points equal to 10% of total purchases made the previous year. That means, $25,000 in spend will earn an additional 2,500 bonus points.
  • Primary collision damage waiver (CDW); terms apply.

Foreign transaction fees: 0%

Travel benefits:

  • Redeem points for up to 1.75X in travel through the Chase Travel Portal
  • 1:1 Point transfer to airline and hotel partners

The Chase Sapphire Preferred is ideal for those who want a higher point redemption (25%) for travel by using Chase Travel℠ and access to transfer partners.

Travel confidently with built-in travel protections when you book trips with the Chase Sapphire Preferred. Below are a handful of travel benefits:

  • Primary auto rental collision damage waiver (CDW)
  • Trip cancellation/interruption insurance
  • Baggage delay insurance
  • Trip delay reimbursement

If you're looking for access to airport lounges, consider the Chase Sapphire Reserve®  instead.

How Much Are Chase Ultimate Rewards Points Worth?

Depending on how you plan on redeeming your Chase Ultimate Rewards points, they can be worth between 1-2 cents per point. 

Value of a 75,000 Points Intro Bonus: Return On Spend

To calculate the return on spend (ROS) for the typical 75,000 point offer, divide the cents per point valuation (CPP) by the $5,000 minimum spend amount. Use the same formula and change the numbers if you have another offer.

75,000 Chase UR intro bonus:

1) Cash (statement credit)

  • 1 CPP = $750 value / $5,000 min spend = 15% ROS

2) 1.25X for Travel via Chase Travel℠ (points earned prior to Oct 26, 2025 through Oct 27, 2027)

  • 1.25 CPP = $937.50 / $5,000 = 18.75% ROS

3) Up to 1.5X for Points Boost (select hotels and flights through Chase Travel)

  • Up to 1.5 CPP = $1,125 / $5,000 = up to 22.5% ROS

 

4) Up to 1.75% for Points Boost (premium cabin tickets on select airlines)

  • Up to 1.75 CPP = $1,312.50 up to 26.25% ROS

 

5) Transfer Partners

  • Up to 2 CPP = $1,500 = 30%

Strategies to Meet Minimum Spend Requirements

The Chase Sapphire Preferred has a minimum spend requirement of $5,000 within the first 3 months of account opening to earn the intro bonus. Since this can be a larger than usual spend amount for some people, below are some ideas to meet the spend requirement.

You can use a credit card to pay:

a) Rent
b) Tuition
c) Student loans
d) Business vendors

Optimal Strategy

If you have the Chase Freedom Flex℠ and the Chase Freedom Unlimited®, the optimal strategy would be to pool the Ultimate Rewards points you earn from those cards to the Chase Sapphire Preferred.

The Chase Sapphire Preferred is a travel card that lets you redeem points for travel via the Chase Travel℠ for up to 1.75X. If you want to get even more value from the Ultimate Rewards points, you can transfer the points out to airline or hotel transfer partners and get up to 2 cents per point in value.

FAQ

Is the Chase Sapphire Preferred worth the $95 annual fee?
The Chase Sapphire Preferred can be worth the $95 annual fee if you use Chase Ultimate Rewards points for travel, transfer points to partners, or use the $50 Chase Travel hotel credit. It is less compelling if you want simple cash back or do not travel often.
How do you calculate the value of the Chase Sapphire Preferred?
Start with the value of the welcome bonus, add the value of points earned from your normal spending, add any benefits you realistically use, and subtract the $95 annual fee. For ongoing value, remove the welcome bonus from the calculation.
How much is the Chase Sapphire Preferred welcome bonus worth?
The value depends on how you redeem the points. A 75,000-point bonus is worth $750 at 1 cent per point, $1,125 at 1.5 cents per point, and potentially more if you transfer points to high-value airline or hotel partners.
What are Chase Ultimate Rewards points worth?
Chase Ultimate Rewards points are usually worth at least 1 cent each for cash-like redemptions. They can be worth more when redeemed through eligible Chase Travel options or transferred to airline and hotel partners.
What is the Chase Sapphire Preferred hotel credit?
The Chase Sapphire Preferred has an up to $50 annual Chase Travel hotel credit. The credit applies to eligible hotel stays purchased through Chase Travel, and terms apply.
Does the Chase Sapphire Preferred have lounge access?
No. The Chase Sapphire Preferred does not include airport lounge access. If lounge access matters, compare it against the Chase Sapphire Reserve instead.
Who should get the Chase Sapphire Preferred?
The Chase Sapphire Preferred is best for people who want a low annual fee travel card, access to Chase transfer partners, solid dining and travel multipliers, and a simple entry point into Chase Ultimate Rewards.
Who should skip the Chase Sapphire Preferred?
You may want to skip the Chase Sapphire Preferred if you prefer no-annual-fee cash back, rarely travel, do not use transfer partners, or already have another premium travel card that covers the same role.
Is the Chase Sapphire Preferred better than the Sapphire Reserve?
It depends on your travel habits. The Chase Sapphire Preferred is better for people who want a lower annual fee and simpler setup. The Sapphire Reserve is better for frequent travelers who can use lounge access, higher-value benefits, and premium travel credits.
Can you have both the Chase Sapphire Preferred and Chase Sapphire Reserve®?
You may be able to hold multiple Sapphire products, but welcome bonus eligibility is separate and depends on Chase’s current rules, your account history, and whether you currently have a Sapphire card.

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