What the Sapphire Preferred Card is and who it targets

The Chase Sapphire Preferred is a rewards credit card issued by Chase that focuses on travel and dining purchases. It charges an annual fee (currently $95) and offers cash back in the form of points rather than a percentage of your spending. The card is designed for people who travel regularly or eat out frequently and want to convert those purchases into future travel credits or statement credits.

This card is not a no-fee option. You pay the annual fee upfront, whether you use the card or not. The value proposition depends on whether your spending patterns — particularly on travel and restaurants — generate enough points to offset that cost and provide additional value beyond what a no-fee card would offer.

Chase also issues the Sapphire Reserve, a premium version with a $550 annual fee and higher point values, and the Sapphire Bank, a no-annual-fee option with lower rewards rates. This guide focuses on the Sapphire Preferred, which sits in the middle of that lineup.

Key Takeaways

  • The Sapphire Preferred charges a $95 annual fee and earns points on travel, dining, and some other categories, with points worth roughly 1 cent each when redeemed for travel.
  • You can redeem points directly through Chase's travel portal, transfer them to airline and hotel partners, or convert them to statement credits, with transfer partners typically offering the highest value.
  • The card requires good to excellent credit (typically a score of 670 or higher) and comes with purchase protections, extended warranties, and travel insurance benefits.
  • The annual fee is charged on your statement each year; you must contact Chase to close the account if you no longer want the card.
  • Comparing this card to no-fee alternatives requires calculating whether your expected annual points earnings exceed $95 in value.

Earning points with the Sapphire Preferred

The Sapphire Preferred earns 3 points per dollar on travel purchases and dining at restaurants, and 1 point per dollar on all other purchases. Travel includes airfare, hotels, rental cars, taxis, rideshare, parking, trains, and cruise lines when booked directly with the merchant or through Chase's travel portal.

Points accumulate in your account with each purchase. There is no cap on how many points you can earn in a year. A person who spends $3,000 per year on dining and $2,000 on airfare would earn 11,000 points annually (9,000 from dining and restaurants, 6,000 from travel, minus the 1,000 from other spending that would earn only 1 point per dollar). Whether that translates to value depends on how you redeem.

The card also offers a sign-up bonus — typically 60,000 points or more when you meet a spending requirement within the first few months of opening the account. This bonus is the largest source of points for most new cardholders and often covers the annual fee several times over in the first year.

How to redeem points and what they are worth

Points can be redeemed three ways. The first is through Chase's travel portal, where you book flights, hotels, and rental cars and pay with points. One point is worth approximately 1 cent, so 10,000 points covers about $100 in travel costs. This is the simplest redemption but often the lowest value.

The second is transferring points to airline and hotel partners. Chase partners with airlines including United, Southwest, American, Delta, and JetBlue, and hotels including Hyatt, Marriott, and IHG. Transfer ratios vary — sometimes 1 point transfers to 1 airline mile, sometimes less. The value depends on the specific airline or hotel and how you use the miles or points. A business-class flight booked with transferred miles can be worth 2 cents per point or more, while a coach flight might be worth 1.5 cents. This route requires more planning but typically offers the highest value.

The third is statement credits, where points convert to a credit on your bill at a fixed rate, usually 1 point per cent. This is the most straightforward but offers no premium for strategic redemption.

Annual fee, credit requirements, and account management

The $95 annual fee posts to your account each year on your account anniversary — the date you opened the card. It is not waived for inactivity or low spending. If you decide you no longer want the card, you must contact Chase to close the account; the fee will not stop automatically.

To open a Sapphire Preferred account, you typically need a credit score of 670 or higher, though Chase's exact requirements are not published. You will need to provide your Social Security number, date of birth, address, and income during the process process. Chase will perform a hard inquiry on your credit report, which may temporarily lower your score by a few points.

Once the account is open, you can manage it through Chase's website or mobile app. You can view your points balance, set up automatic payments, dispute charges, and request a credit limit increase. You can also add authorized users (other people who can use the card but are not responsible for the bill) at no additional cost.

Protections and benefits included with the card

The Sapphire Preferred includes several protections beyond the rewards program. Purchase protection covers items you buy with the card against theft or damage for 120 days. Extended warranty adds up to one year to the manufacturer's warranty on may be able to access items. Trip cancellation and interruption insurance reimburses prepaid, non-refundable trip costs if you or a family member becomes ill or injured before or during travel.

The card also includes trip delay reimbursement (covering meals and lodging if your flight is delayed more than 12 hours), lost luggage reimbursement, and emergency medical and dental coverage while traveling outside the United States. These benefits have specific terms, caps, and exclusions — for example, trip cancellation insurance typically does not cover pre-existing conditions unless you buy the card within 14 days of your initial trip deposit.

A full list of benefits and their terms is available in the card's benefits guide, which Chase provides when you open the account and updates periodically.

Comparing the Sapphire Preferred to other cards

The main trade-off with the Sapphire Preferred is the $95 annual fee. A no-fee card like the Chase Freedom Unlimited earns 1.5% cash back on all purchases, which is simpler but typically worth less on travel and dining. To justify the Sapphire Preferred, you need to earn at least $95 in additional value per year from the higher point rates on travel and dining.

If you spend $5,000 per year on travel and dining combined, the Sapphire Preferred earns 15,000 points (3 points per dollar). At 1 cent per point, that is $150 in value, minus the $95 fee, for a net gain of $55. A no-fee card earning 1.5% on the same $5,000 would earn $75 with no fee, making it slightly better. But if you transfer those 15,000 points to an airline partner and book strategically, you might extract 1.5 cents per point or more, bringing the value to $225 and making the Sapphire Preferred the better choice.

The Sapphire Reserve, the premium version, charges $550 per year but earns 3 points per dollar on all travel (not just booked through the portal) and includes a $300 annual travel credit. It is designed for people who spend significantly more on travel or who value the additional perks enough to justify the higher fee.

How to open an account and set up the card

You can open a Sapphire Preferred account online through Chase.com, by phone at the number on the back of any Chase card, or in person at a Chase branch. The online process takes about 10 minutes and asks for your name, address, Social Security number, date of birth, income, and employment status.

Chase will tell you when ready whether you are approved, denied, or pending further review. If approved, your card will arrive in the mail within 7 to 10 business days. When it arrives, you must set up it before using it — you can do this online, through the mobile app, or by calling the number on the card.

Once activated, the card is ready to use. Your first statement will arrive 30 days after your first purchase. The sign-up bonus points post to your account once you meet the spending requirement, which is typically $4,000 in purchases within the first three months.

Paying your bill and managing your account

Your monthly bill is due on the same date each month. You can pay online, through the mobile app, by phone, or by mail. If you pay the full balance by the due date, you pay no interest. If you carry a balance, Chase charges interest at the card's annual percentage rate (APR), which varies based on your creditworthiness and current market rates.

You can set up automatic payments to pay the full balance, a fixed amount, or the minimum due each month. Paying only the minimum will result in interest charges and a longer payoff timeline. The card has no spending cap and no limit on how many times you can use it per month.

If you miss a payment, Chase will report it to the credit bureaus after 30 days, which will lower your credit score. Late fees explore after 60 days. If you cannot pay your bill, contact Chase as soon as possible to discuss options.

Frequently Asked Questions

Can I get the sign-up bonus again if I close and reopen the card?

Chase typically allows you to earn the sign-up bonus once every 48 months per card product. If you close the Sapphire Preferred and reopen it within 48 months, you will not be may be able to access for the bonus. After 48 months, you may be may be able to access again, though Chase's rules can change.

What happens to my points if I close the account?

Your points remain in your account for a limited time after you close the card — typically 30 to 60 days. You should redeem them before closing the account to avoid losing them. Contact Chase if you need clarification on your account's specific timeline.

Does the annual fee get refunded if I close the card right after opening it?

Chase does not refund the annual fee if you close the card within a short period. However, if you close the card within 30 days of opening it, you may be able to contact Chase and request a courtesy waiver. There is no may provide, but it is worth asking.

Can I use my points to pay my credit card bill directly?

You can redeem points as a statement credit, which reduces your bill. This is not the same as using points to pay the balance, but it has the same effect — your balance goes down by the credit amount. You still need to make a payment to cover any remaining balance.

What credit score do I need to open this card?

Chase does not publish a minimum credit score, but most people approved for the Sapphire Preferred have a score of 670 or higher. If your score is lower, you may still be approved, but approval is less likely. Check your score before explore to set realistic expectations.