Why I love my Chase Sapphire Preferred card — and will always keep it in my wallet

Editor’s note: This is a recurring post, regularly updated with new information and offers. 

Being a points and miles enthusiast means I have a drawer full of credit cards. Choosing which cards to carry in my wallet can be a daunting task at times. However, one card will always have a slot in my wallet: the Chase Sapphire Preferred® Card (see rates and fees).

The Sapphire Preferred was crowned the Best Travel Rewards Credit Card at the 2024 TPG Awards for the seventh year in a row. So, it’s no wonder TPG staffers rank this as one of their favorite credit cards.

New Sapphire Preferred cardholders can earn a limited-time, highest-ever welcome offer of 100,000 bonus points after spending $5,000 on purchases in the first three months of account opening. Based on TPG’s April 2025 valuations, this offer is worth $2,050.

Here’s why the Sapphire Preferred will always stay in my wallet.

Solid earning rates

The most enticing feature of the Sapphire Preferred for me is its high earnings rates in a multitude of categories:

• 5 points per dollar on hotels and car rentals booked through Chase Travel℠
• 5 points per dollar on eligible Lyft rides (through Sept. 30, 2027)
• 5 points per dollar spent on Peloton equipment and accessory purchases of $150 or more (through Dec. 2027, with a limit of 25,000 bonus points)
• 3 points per dollar spent on dining, select streaming services and online grocery store purchases (excluding Walmart, Target and wholesale clubs)
• 2 points per dollar spent on all other travel not booked through Chase Travel
• 1 point per dollar spent on everything else

Dining is the biggest spending category on my cards. The American Express® Gold Card is my go-to card for dining at restaurants worldwide because of its 4 points per dollar earning rate (on up to $50,000 in purchases per calendar year, then 1 point per dollar).

However, as an international foodie, I often find myself at many hole-in-the-wall restaurants that don’t accept Amex. That is where my Sapphire Preferred comes in handy with its 3 points per dollar earning rate on dining. The Sapphire Preferred is on the Visa network, so I never worry about acceptance.

Furthermore, I love the 2 points per dollar this card earns on travel booked outside of Chase Travel. Chase defines travel very broadly, and the most common travel purchases I make — such as ride-hailing, parking and public transit — code as travel.

Lyft is my ride-hailing app of choice. I take at least 10 Lyfts on average per month, so earning 5 points per dollar spent on rides with no cap helps me rack up Chase Ultimate Rewards points (through Sept. 30, 2027).

Related: The best cards for international travel

Flexible points

Another major reason to carry the Sapphire Preferred is so you can earn Ultimate Rewards points. Cardholders can redeem these points through Chase Travel at 1.25 cents per point or transfer them to one of Chase’s 14 hotel and airline partners.

Personally, I don’t redeem through Chase Travel since my points’ value is significantly higher when I use transfer partners.

Recently, I redeemed 30,000 Ultimate Rewards points by transferring them to World of Hyatt for a two-night stay at the Hyatt Centric Dublin the Liberties in Dublin over St. Patrick’s Day weekend when cash rates were running over $450 per night.

Related: How much are Chase Ultimate Rewards points worth?

Valuable statement credits

The Sapphire Preferred comes with a handy annual $50 hotel credit when you book through Chase Travel.

I don’t generally recommend booking a hotel through an online travel agency like Chase Travel since booking directly with the hotel is usually best. That way, you can earn points with that brand’s loyalty program.

However, I recommend it when you’re abroad in cities where the hotels you’re interested in are not part of any major loyalty program.

Two years ago, I used the hotel credit for one night at the Canzi Cataratas Hotel near Brazil’s Iguazu Falls. Last year, I used the credit for one night at a boutique hotel in Morocco.

Neither of these hotels was attached to a loyalty program, so I had no problem booking through Chase Travel. These hotels were a little more than $50 a night, so the annual credit effectively netted me close to a free night each time.

Related: 6 reasons why you should book directly with an airline or hotel

Stackable Chase Offers

Chase sends targeted offers to cardholders, meaning these offers vary depending on the cardholder. I often see offers such as extra points or cash back at retailers and restaurants I frequent.

These targeted offers on the Sapphire Preferred are also stackable with the card’s bonus earnings and with shopping portals. 

Related: Earn bonus miles with these airline portal promotions

Useful benefits

The Sapphire Preferred includes a handful of benefits that I use frequently. These include a complimentary DoorDash DashPass membership (activate by Dec. 31, 2027).

This card also has no foreign transaction fees and numerous travel protections, which can help me in case my plans go awry. That’s essential for me as a frequent international traveler.

Related: Instacart+ members now get a free Peacock subscription

Low annual fee

Many cards with similar benefits and earnings rates have high annual fees. This makes the Sapphire Preferred stand out with its annual fee of just $95. Its benefits, statement credits and ability to earn Ultimate Rewards points provide enough value to easily outweigh its annual fee.

Bottom line

The Sapphire Preferred is a credit card that will always be in my wallet. With its excellent earning rates and no foreign transaction fees, it’s the perfect travel companion for avid international travelers like myself.

Most importantly, the Sapphire Preferred earns a flexible rewards currency in the form of Chase Ultimate Rewards points, which allows me to leverage transfer partners to maximize my redemption value.

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

Apply here: Chase Sapphire Preferred