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If you’re a frequent traveler who wants to earn an influx of rewards to use toward free travel, the Chase Sapphire Preferred® Card is an ideal choice. The card offers the following sign-up bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Cardholders can also earn 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, as well as 1X points on all other purchases.
Along with redeeming points for cash, statement credits, gift cards, travel, and products and services, Chase Sapphire Preferred® Card holders can transfer points to a variety of travel transfer partners at a rate of 1:1.
Although the Chase Sapphire Preferred® Card charges an annual fee of $95, the value you can get from the card’s sign-up bonus and rewards rate more than makes up for the cost.
In this review, we’ll break down the pros and cons of the Chase Sapphire Preferred® Card, as well as show how it compares to the Capital One Venture Rewards Credit Card.
Intro Purchase APR
N/A
Regular Purchase APR
17.49% - 24.49% Variable
Intro BT APR
N/A
Regular BT APR
17.49% - 24.49% Variable
Annual Fee
$95
Cash Advance Fee
Either $10 or 5% of the amount of each transaction, whichever is greater.
Foreign Transaction Fee
$0
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Sign-up bonus
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Rewards rate
Earn 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, 3X points on select streaming services, 3X points on online grocery purchases (excluding Target, Walmart and wholesale clubs) and 1X points on all other purchases. Additionally, earn 5X points on Lyft rides through March 2025.
Plus, Chase offers a 10% anniversary points boost. For example, if you spend $25,000 in purchases, that’s a bonus of 2,500 points.
25% boost in rewards value
When you redeem your points for travel through Chase Ultimate Rewards, you’ll get 25% more value from your rewards. So instead of being worth 1 cent each, points will be worth 1.25 cents each.
Additionally, for a limited time, Ultimate Rewards points will be worth 25% more when redeemed for statement credits against purchases with Airbnb and Away.
To receive your statement credit, select an eligible purchase made within the past 90 days and apply your points to all or part of the purchase.
Travel transfer partners
You can transfer points at a rate of 1:1 to 11 airline partners and three hotel partners. Travel transfer partners include Aer Lingus AerClub, Air Canada Aeroplan, British Airways Executive Club, Emirates Skywards, Flying Blue AIR FRANCE KLM, Iberia Plus, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, IHG Rewards Club, Marriott Bonvoy and World of Hyatt.
Hotel credit of up to $50 per year
You can earn up to $50 in statement credits each account anniversary year when you book hotel stays through Chase Ultimate Rewards®.
Annual fee
The Chase Sapphire Preferred® Card comes with a $95 annual fee. However, the value of the sign-up bonus more than covers that cost during the first year of card membership.
No intro APR
If you’re planning to finance a large purchase and pay it off over time or transfer a balance from a high-interest credit card, the Chase Sapphire Preferred® Card may not be ideal, since it does not offer a 0% introductory APR on purchase or balance transfers.
If you want to earn an elevated rewards rate on general purchases, you may want to consider the Capital One Venture Rewards Credit Card ($95 annual fee). The card offers 2 Miles per dollar on every purchase, every day; 5 Miles on hotels and rental cars booked through Capital One Travel; 5 Miles per dollar when you book on Turo, the world’s largest car sharing marketplace, through May 16, 2023.
But while the Capital One Venture Rewards Credit Card comes with several benefits, including a credit of up to $100 to cover your Global Entry or TSA Precheck application fee, travel accident insurance and 24-hour travel assistance services, it doesn’t offer all of the same travel protections as the Chase Sapphire Preferred® Card, such as trip cancellation/interruption insurance, baggage delay insurance or trip delay reimbursement.
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| Chase Sapphire Preferred® Card | Capital One Venture Rewards Credit Card | Chase Sapphire Reserve® | Bank of America® Premium Rewards® credit card |
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Apply Now on Chase's secure site
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Apply Now on Capital One's secure site
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Apply Now on Chase's secure site
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Apply Now on Bank Of America's secure site
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| Annual Fee | |||
| $95 | $95 | $550 | $95 |
| Welcome Offer | |||
| Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®. | Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel | New Offer! Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®. | 50,000 online bonus points - a $500 value - after you make at least $3,000 in purchases in the first 90 days of account opening. |
| Rewards Rate | |||
| 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases | 2 Miles per dollar on every purchase, every day; 5 Miles on hotels and rental cars booked through Capital One Travel; 5 Miles per dollar when you book on Turo, the world’s largest car sharing marketplace, through May 16, 2023 | 5x points on flights and 10x points on hotels and car rentals through Chase Ultimate Rewards® | 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases |
| Intro Purchase APR | |||
| N/A | N/A | N/A | N/A |
| Regular APR | |||
| 17.49% - 24.49% Variable | 17.49% - 25.49% (Variable) | 18.49% - 25.49% Variable | 18.24% - 25.24% Variable APR |
| Intro Balance Transfer APR | |||
| N/A | N/A | N/A | N/A |
| Regular Balance Transfer APR | |||
| 17.49% - 24.49% Variable | 17.49% - 25.49% (Variable) | 18.49% - 25.49% Variable | 18.24% - 25.24% Variable APR on balance transfers |
| Balance Transfer Fee | |||
| Either $5 or 5% of the amount of each transfer, whichever is greater. | $0 at this Transfer APR | Either $5 or 5% of the amount of each balance transfer, whichever is greater | Either $10 or 3% of the amount of each transaction, whichever is greater. |
| Recommended Credit | |||
| Excellent | Excellent/Good | Excellent | Excellent/Good |
| Card Details | |||
| Chase Sapphire Preferred® Card | Capital One Venture Rewards Credit Card | Chase Sapphire Reserve® | Bank of America® Premium Rewards® credit card |
If you travel regularly, the Chase Sapphire Preferred® Card is a great option. The card offers a valuable sign-up bonus that can be worth $1,000 when redeemed for travel through Chase Ultimate Rewards, as well as an elevated rewards rate on travel, dining at restaurants, select streaming services and online grocery purchases. But if you want a travel rewards card that offers a solid rewards rate on every purchase you make, the Capital One Venture Rewards Credit Card is more ideal.
Or, if you’d prefer a travel rewards card with a higher rewards rate and more premium benefits, the Chase Sapphire Reserve® is a step above the Chase Sapphire Preferred® Card.
The card offers 5x points on flights and 10x points on hotels and car rentals through Chase Ultimate Rewards®, 3X points on other travel and dining, and 1X points on all other purchases. Cardholders also enjoy 10x points on Lyft rides through March 2025, in addition to 15% off Lyft car rides and a year of complimentary Lyft Pink membership.
Additionally, the Chase Sapphire Reserve® offers several valuable benefits, including a $300 annual travel credit and 50% more rewards value when you redeem points for travel through Chase Ultimate Rewards.
The downside? The card comes with an annual fee of $550.
