The Chase Sapphire Preferred is the best low-fee way into transferable Chase points. It charges $95 a year and returns a $100 hotel credit that more than covers the fee, earns 5x through the Chase Travel portal and 3x on dining, and opens access to Chase transfer partners. It refreshed in 2026 with new bonus categories, but it also dropped the 10 percent anniversary bonus and moved Hyatt transfers to 4:3, for new cardmembers from June 15, 2026 and for every cardmember from October 1, 2026. Figures are as of 2026; confirm current terms at Chase.
What the Sapphire Preferred earns
| Category | Rate |
|---|---|
| Chase Travel portal | 5x |
| Dining worldwide | 3x |
| Gas and EV charging | 3x |
| Vacation rentals (Airbnb, Vrbo, and similar) | 3x |
| Other travel | 2x |
| Everything else | 1x |
The credits and perks
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The headline benefit is a $100 Chase Travel hotel credit each anniversary, doubled from $50 in the 2026 refresh, which alone covers the $95 fee. The card also includes a Global Entry or TSA PreCheck credit and a year of Apple TV when activated. It carries solid trip protections and no foreign transaction fees. Chase also caps you at 2 personal approvals in 30 days under the Chase 2/30 rule.
What changed in 2026
The refresh added the 3x gas, EV charging, and vacation-rental categories and doubled the hotel credit. It also removed the 10 percent anniversary points bonus for people who apply on or after June 15, 2026, and changed the World of Hyatt transfer ratio from 1:1 to 4:3, for new cardmembers from June 15, 2026 and for every cardmember from October 1, 2026. Those two cuts matter if Hyatt is your main redemption.
The fee math
The $100 hotel credit covers the $95 fee outright, so the card is effectively free to hold if you book one hotel through Chase Travel a year. Everything after that, the 3x and 5x categories and access to Chase transfer partners, is upside. That is why it remains the standard first card for anyone building a Chase points balance.
Who it fits and who it does not
It fits almost anyone who wants transferable points without a big fee, especially early in a churning plan. It does not fit someone who wants lounge access and premium protections, which is the Sapphire Reserve, or a Hyatt maximizer who is affected by the new 4:3 transfer ratio.
Chase Sapphire Preferred
Earn rates, credits, and the $95 fee are current as of 2026. Confirm the current welcome offer at the issuer before you apply.
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FAQ
Is the Chase Sapphire Preferred worth it in 2026?
Yes for most people who want transferable points, because the $100 hotel credit covers the $95 fee and the card earns 3x to 5x in several everyday categories. It is the standard first Chase points card.
What is the Sapphire Preferred annual fee?
$95 as of 2026, unchanged in the refresh.
What does the Sapphire Preferred earn?
5x on Chase Travel, 3x on dining, gas, EV charging, and vacation rentals, 2x on other travel, and 1x elsewhere.
What changed on the Sapphire Preferred in 2026?
The refresh added 3x gas, EV, and vacation-rental categories and doubled the hotel credit to $100. It also removed the 10 percent anniversary bonus for new applicants and moved Hyatt transfers to 4:3, for new cardmembers from June 15, 2026 and for every cardmember from October 1, 2026.
Sapphire Preferred or Sapphire Reserve?
The Preferred is the $95 entry card whose hotel credit covers its fee; the Reserve is the $795 premium card with lounge access, portal earning, and a large credit stack. Start with the Preferred unless you will use the Reserve credits.
Last reviewed October 2026. We verify every rule, ratio, and figure against issuer terms and current reporting, and date each one. See our editorial standards for how we research and correct guides.
We re-check these guides as issuer rules and award charts change. 2 ways to follow along, no account needed.