Is the Chase Sapphire Preferred still worth it in 2026?

Whether you’re a frequent traveler or a beginner to points and miles, there are many reasons the Chase Sapphire Preferred® Card (see rates and fees) is a great option for you.

But with a $95 annual fee, you may ask, is the Sapphire Preferred worth it?

The Sapphire Preferred was my first transferable rewards card and my first one with an annual fee. After holding the card for a couple of years, I still strongly affirm that I’ve received significantly more value from the card than I’ve paid in annual fees.

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Chase Sapphire Preferred® Card — Earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.

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Plus, with recent updates to the Sapphire Preferred’s earning rates and annual credits, I’ll receive even more value from the card going forward. Let’s explore how you, too, can get much more value from the card than it costs to carry each year.

Welcome offer

This is travel rewards card 101: A large portion of the value you receive from a new card (especially in the first year) comes from earning its welcome bonus. This is especially true with the Sapphire Preferred.

Currently, new applicants can earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.

TPG’s June 2026 valuations place this bonus at $2,050 when you leverage the Chase Ultimate Rewards program’s valuable transfer partners.

The value of this bonus alone completely offsets the $95 annual fee for the first year.

Related: Reasons to choose the Sapphire Preferred over the Sapphire Reserve

Updated Sapphire Preferred $100 hotel credit

If you hold the Sapphire Preferred, you’ll receive a $100 statement credit each account anniversary year to book hotel stays purchased through the Chase Travel℠ portal.

(This is double the value of the previous $50 hotel credit. And, if you already have the card and used your $50 credit, you’ll receive an additional $50 to spend this year.)

All you have to do is log into Chase Travel, select your Sapphire Preferred (if you have multiple Chase cards), search for hotels and book your stay.

In our experience, the statement credit usually posts within four business days.

If you maximize this credit by booking a hotel through Chase Travel, you’ll completely offset the Sapphire Preferred’s $95 annual fee — and net $5 in value.

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

New Sapphire Preferred bonus points-earning categories

A welcome bonus isn’t the only way to earn points. The Sapphire Preferred accrues points at a high rate across multiple popular bonus categories.

The card’s recent refresh also added a handful of new bonus categories to earn more points on your purchases.

Here’s a breakdown of the Sapphire Preferred’s earning rates:

• 5 points per dollar spent on travel booked through Chase Travel (including flights, hotels, rental cars, vacation homes^, cruises, activities and tours)
• 5 points per dollar spent on Lyft rides (through Sept. 30, 2027)
• 5 points per dollar spent on eligible Peloton equipment and accessory purchases over $150 (through Dec. 31, 2027)
• 3 points per dollar spent at gas and electric vehicle charging stations^
• 3 points per dollar spent on vacation homes (with Airbnb, Vrbo, Plum Guide, HomeAway, Homestay.com and Vacasa)^
• 3 points per dollar spent on dining worldwide (including takeout and eligible delivery services)
• 3 points per dollar spent on select streaming services
• 3 points per dollar spent on online grocery store purchases*
• 2 points on all other travel worldwide
• 1 point on everything else

^New bonus category
*Excludes Target, Walmart and wholesale clubs

These popular categories allow you to continue stacking up valuable points long after earning the welcome bonus.

Related: I’m going for the Chase Sapphire Reserve after years with the Sapphire Preferred. Here’s why

Valuable transfer partner redemptions

I suggest you transfer your Ultimate Rewards points earned on the Sapphire Preferred to one of Chase’s travel partners. Some of the most valuable transfer partners include Air Canada Aeroplan, Air France-KLM Flying Blue and British Airways Club.

There are many sweet spots to leverage with your Chase points. You can transfer points to British Airways to book flights with Oneworld partners (including American Airlines) or book luxurious Hyatt stays through World of Hyatt (4:3 transfer ratio†).

†Effective immediately for new cardholders who applied on or after 15 June; effective Oct. 1 for other cardholders.

Maximizing your redemptions can easily generate more than $95 in value — the cost of the Sapphire Preferred’s annual fee.

If leveraging transfer partners isn’t your thing, you’ll still get good value when you book through Chase Travel. That’s because Sapphire Preferred cardholders get up to 1.75 cents in value for each point they redeem through the portal (depending on the specific redemption; see your rewards program agreement for full details).

So if you wanted to book a $500 American Airlines flight, you could use 40,000 Chase points to purchase it through the Chase Travel portal. Plus, you’ll earn AAdvantage miles on this flight.

Related: Tips on how to use your points and miles better

Sapphire Preferred adds new card statement credits in 2026

The Sapphire Preferred‘s refresh included two new statement credits to provide more ongoing value to cardholders.

The first is a statement credit of up to $120 every four years for Global Entry, TSA PreCheck or Nexus application fees charged to the card. Since the credit is worth up to $120 every four years, it can more than offset a year’s annual fee when used.

Plus, Sapphire Preferred cardholders now receive a complimentary Apple TV subscription for one year (when activated by Dec. 31).

Related: Global Entry vs. TSA PreCheck: Which is more beneficial?

Useful card benefits

Sure, you might not apply for a card simply to get travel insurance or purchase protection.

However, if the time comes that you need to leverage one of these perks, the Sapphire Preferred‘s suite of benefits is likely to have you covered. And, in many instances, just one successful claim would net you more in returns than you paid in the annual fee.

Let’s say the airline loses your bag for five days on a trip to Europe. If you purchased your flight with your Sapphire Preferred card, you’ll be reimbursed for essential purchases like clothing and toiletries.

Chase will cover up to $100 a day for five days, giving you up to $500 — more than five times the card’s annual fee. Just make sure to keep all your receipts.

Plus, the Sapphire Preferred’s refresh has added emergency evacuation and transportation coverage to these perks. With this benefit, if a covered traveler is injured or becomes sick during a trip 100 miles or more from home that results in emergency evacuation, they can be covered for medical services and transportation (up to $100,000).

Related: How my Sapphire Preferred saved me nearly $250 on a canceled trip

Is the Chase Sapphire Preferred worth it?

The Sapphire Preferred is worth holding year after year. Even if you only maximize the $100 annual credit for hotels booked through Chase Travel, you offset the $95 annual fee entirely each year. When you add in the high earning rates and valuable redemption options, this card continues to pay for itself.

Bottom line

Once you redeem the Sapphire Preferred‘s $100 annual hotel credit, you’ve already recouped the card’s $95 annual fee and come out $5 ahead.

Between the card’s valuable perks and useful protections, it should be easy for most cardholders to get meaningful additional value out of the rest of the card each year.

Of course, you should consider your wallet’s existing cards and personal travel preferences before applying. But for most travelers, the Sapphire Preferred is worth it.

To learn more, read our full review of the Sapphire Preferred.

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Apply here: Chase Sapphire Preferred

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