Bilt Obsidian Card vs. Chase Sapphire Preferred Card [Detailed Comparison]

The Chase Sapphire Preferred^® Card launched over a decade ago and remains one of the most dependable travel rewards cards on the market. This popular card offers users enticing travel perks from no foreign transaction fees to access to several airline and hotel transfer partners — all at an affordable $95 annual fee. It’s no wonder millions of households have the Chase Sapphire Preferred card.

However, the card has worthy competitors. In early 2026, Bilt overhauled its program, ushering in a few new cards into the space. The brand-new Bilt Obsidian Card (rates & fees) gives cardholders the ability to earn Bilt Points (offer terms) on rent and mortgage payments for a similar $95 annual fee (rates & fees), as well as the opportunity to earn Bilt Cash. Up to $100 of Bilt Cash earned rolls over to the next year.

Read this in-depth card comparison of these cards to help you determine which one works best for you.

Overview

The Chase Sapphire Preferred card has been a top card for years because of its solid earning rates, simplicity, and valuable redemptions. Meanwhile, the Obsidian Card is a brand-new addition to the card market, but it has a learning curve because of its more complex structure. Here’s an initial look at the credit cards side by side:

Welcome Bonus Offer Comparison

Opening a card with a welcome bonus offer can be a great way to earn a massive haul of points upon meeting minimum spending requirements.

Obsidian Card

The new Obsidian Card has a welcome offer of $200 in Bilt Cash when you apply and get approved. Bilt Cash is a flexible currency that can help you unlock transfer bonuses, expanded travel and lifestyle redemptions, and the ability to earn the full up to 1x points on rent. With the $200 Bilt Cash bonus, you can unlock the ability to earn the full up to 1x rate on more than $6,000 worth of rent or mortgage payments.

Chase Sapphire Preferred Card

The Chase Sapphire Preferred card is known for offering a generous welcome offer (usually 60,000 to 75,000 Chase Ultimate Rewards points), which is worth up to thousands of dollars.

According to our valuations, Chase Ultimate Rewards points are worth 2 cents each, though you can likely get more value from them by transferring them. Some of the highest-value ways to spend your welcome offer are flying business class on Air France-KLM Flying Blue during promotional rewards periods, flying business class on Iberia to Spain during off-peak dates, or staying at Hyatt properties.

If the welcome offer on the Chase Sapphire Preferred card is on the lower side, you can always try using a tool like CardMatch or keep an eye out for targeted mailers from Chase.

NEW OFFER

Terms Apply / Rates & Fees

Chase Sapphire Preferred^® Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

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Chase Sapphire Preferred^® Card

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

Welcome Offer

Earn 60,000 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.

60,000 75,000 points

UP's Offer Valuation*:

$1,500

Annual Fee

$95

APR

19.24% - 27.49% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Good to Excellent

Why We Like This Card

The Chase Sapphire Preferred^® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.

Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.

Pros & Cons

Pros

• 5x points on all travel booked via the Chase Travel portal
• 3x points on dining purchases, online grocery purchases, and select streaming services
• 2x points on all other travel worldwide

Cons

• $95 annual fee
• No elite benefits like airport lounge access or hotel elite status

Read Full Review

Card Highlights

• Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
• Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
• Earn up to $50 in statement credits each account anniversary year for hotel stays through Chase Travel℠
• 10% anniversary points boost - each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
• Member FDIC

Financial Snapshot

• APR: 19.24% - 27.49% Variable
• Foreign Transaction Fees: None

Rewards Center

Chase Ultimate Rewards

It’s tough to match up these welcome offers against each other, since it isn’t an apples-to-apples comparison. One gives you a large amount of points, while the other unlocks the ability to earn up to 1x points on rent or mortgage without paying additional fees.

Hot Tip:

You likely won’t get approved for a personal Chase card if you’ve applied for 5 or more credit cards from any bank in the past 24 months. Therefore, a general rule of thumb is to apply for Chase cards first while you are under Chase’s 5/24 count.

Bilt Points (and Bilt Cash) vs. Chase Ultimate Rewards Points

Both cards earn flexible points, which means you can transfer your rewards to each program’s respective airline and hotel programs for outsize value. However, Bilt also uses another currency you should factor in when choosing a card: Bilt Cash.

We’ll next dive into the details of earning and redeeming both types of points, as well as Bilt Cash. It’s worth noting that it’s easier to earn Chase Ultimate Rewards points thanks to welcome bonus offers and expanded bonus categories (remember, the Obsidian Card’s bonus comes in Bilt Cash, not Bilt Points).

Earning Potential

The earning rates on the 2 cards are similar, but there are a few key differences to note.

Obsidian Card

The Obsidian Card set itself apart from the sea of travel credit cards by offering the ability to earn up to 1x points on rent and mortgage payments.

You can earn up to 1x points on rent or mortgage payments, but in order to earn the full amount, you have to have enough Bilt Cash to unlock your Bilt Points. Every $30 unlocks the ability to earn 1,000 points on your rent or mortgage. You can calculate how much everyday spending is needed to earn enough Bilt Cash (offer terms) to unlock the full up to 1x Bilt Points on your rent or mortgage payment.

Or you can forgo earning Bilt Cash entirely and earn up to 1.25x points on housing payments you make through Bilt without a fee, but you won’t earn Bilt Cash from your card spending. If you did this, you’d have to spend at least 100% of your monthly housing payment to obtain the full 1.25x points. Spending 75% on your monthly housing payment would get you 1x points.

You can also earn bonus points through the Bilt Dining program, Lyft rides, fitness classes, Walgreens purchases, and by connecting your Bilt account to Rakuten.

Bilt Rewards also hosts Rent Day on the first of every month, when you can earn double points on all eligible purchases on the Obsidian Card (except rent) for up to 1,000 points. For example, you’d earn 6x on dining or groceries, 4x on travel, and 2x on everyday purchases each Rent Day (but you wouldn’t earn double Bilt Cash).

You can also use $200 worth of Bilt Cash to unlock an extra 1x points on your next $5,000 in spend on your Obsidian Card (you can do this 5 times a year).

Chase Sapphire Preferred Card

The Chase Sapphire Preferred card doesn’t offer payments (with no additional fee) for rent, but it does offer a few other useful bonus categories for everyday purchases. You can earn 3x points on certain streaming services, including popular subscriptions like Apple TV+, Netflix, Hulu, and Spotify, as well as online grocery pickup and delivery orders.

Chase Sapphire Preferred cardholders also earn a 10% points bonus based on total card spending on each account anniversary. For example, if you spent $100,000 on the card in a year, you’d receive an additional 10,000 points.

Redemptions

Both reward currencies are consistently ranked highly in our latest points-and-miles valuations. We estimate that Bilt Points are worth 2 cents each. Chase Ultimate Rewards points are also worth 2 cents each. Both programs also offer top-tier transfer partners, and each has its own travel portal. You can use Bilt Cash to pay for shopping and services like Lyft rides.

There’s a decent amount of overlap between the Bilt and Chase transfer partners, with both programs offering a simple 1:1 transfer ratio for most partners. It’s no secret that World of Hyatt has long been our favorite hotel loyalty program, and you’re spoiled for choice with transfers from both Bilt Rewards and Chase Ultimate Rewards.

Bilt Rewards partners with Turkish Airlines Miles&Smiles, another underrated airline program that makes for excellent Star Alliance redemptions. Meanwhile, Chase Ultimate Rewards offers transfers to Aeroplan, a popular alternative for Star Alliance awards.

Both programs allow you to book flights, hotels, rental cars, and more through their respective travel portals. With the Obsidian Card, you get a 25% points bonus at redemption time. The Chase Sapphire Preferred card gives you access to point bonuses on select flights and hotels — as high as 75%. This can be another great way to book travel if you can’t find the award availability by leveraging airline or hotel transfer partners.

Travel Protection and Benefits

If you’re thinking about adding a travel card to your wallet, you want to ensure you’re covered in an emergency. Both cards offer useful coverage that can come in handy during travel.

Obsidian Card

The Obsidian Card is a World Elite Mastercard and therefore comes with the following benefits:

• Trip cancellation and interruption protection: Up to $2,000 per trip.
• Trip delay reimbursement: Use your card to purchase the entire trip and receive up to $300 per trip if it’s delayed more than 6 hours.
• MasterRental coverage: Pay for your entire car rental with your card, decline the rental agency’s CDW/LDW coverage, and receive secondary coverage for damage or theft.

Perks also include:

• No foreign transaction fees: There are no additional fees charged for purchases internationally
• $100 Bilt Travel hotel credit: Get $50 semiannual statement credits for qualifying Bilt Travel Portal hotel bookings

Chase Sapphire Preferred Card

• Up to $50 hotel statement credit: Book a hotel via the Chase Travel portal and receive up to $50 as a statement credit each card anniversary year.
• Lost luggage reimbursement: Receive up to $3,000 if your luggage is stolen or damaged.
• Baggage delay insurance: Receive up to $100 per day for up to 5 days if your luggage is delayed for more than 6 hours.
• Roadside dispatch: If you are stranded on the side of the road, roadside dispatch is available 24/7 to provide assistance. Cardholders are responsible for the actual services received.
• No foreign transaction fees: There are no additional fees charged for purchases internationally.
• Trip cancellation and trip interruption insurance: There’s a limit of up to $10,000 per person and up to $20,000 per trip.
• Trip delay reimbursement: Pay for your entire trip with the card and receive up to $500 per ticket for delays of 12 hours.
• Auto rental collision damage waiver: Pay for your entire car rental with your card, decline the rental agency’s CDW/LDW coverage, and receive primary coverage for damage or theft.

Bottom Line:

The Chase Sapphire Preferred card has more robust travel protections and benefits, including baggage insurance, primary car rental coverage, and delayed luggage reimbursement.

Shopping Showdown: Benefits and Protections

Both reward cards offer shopping protections.

Obsidian Card

• Cell phone protection: Get up to $800 per claim.
• Purchase protection: Be reimbursed up to $1,000 per loss and a total of $50,000 per cardholder account per 12-month period.
• Mastercard ID theft protection: Get fraud alerts and dark web monitoring.
• Access to World Elite Mastercard Concierge: You can contact the World Elite Mastercard Concierge 24/7/365 for restaurant recommendations, travel assistance, and more.

Chase Sapphire Preferred Card

• Purchase protection: Items damaged or stolen within the first 120 days of the purchase date may be eligible for reimbursement of up to $500 per item and $50,000 per account annually.
• Extended warranty: Eligible items purchased with your card that have a manufacturer’s warranty of 3 years or less receive an additional 1 year.
• Chase Offers: Sign in to your online card account and review offers to earn statement credits for eligible purchases at dozens of retailers.
• Shop through Chase: Receive bonus points by shopping at hundreds of online retailers via the Shop through Chase shopping portal.
• DoorDash benefits: Chase Sapphire Preferred cardholders can enroll in a complimentary 1-year DashPass membership (activate by December 31, 2027).

Bottom Line:

Both cards have excellent shopping benefits and protections. While the Chase Sapphire Preferred card has a broader range of partner benefits and statement credits, the Obsidian Card has cell phone protection.

Annual Fees and Authorized Users

Both of these cards have the same annual fee:

• Chase Sapphire Preferred card: $95
• Obsidian Card: $95 annual fee

Authorized Users

The Chase Sapphire Preferred card doesn’t charge for authorized users, but the Obsidian Card charges $50 per user.

Hot Tip:

If the Obsidian Card isn’t the right fit, you could consider one of the other 2 credit cards in the Bilt 2.0 card lineup, the Bilt Palladium Card and the Bilt Blue Card.

Final Thoughts

Although both cards have similar earning rates, their value propositions differ significantly. The Chase Sapphire Preferred card is simple, easy to use, and offers clear benefits and plenty of flexible, lucrative redemption options.

The Obsidian Card is much more complex, with 2 currencies to consider and the ability to earn up to 1x points on rent and mortgage payments.

If you don’t have rent or mortgage payments, the Chase Sapphire Preferred card is the clear winner. But if you do, the Obsidian Card lets you earn on those payments, something other cards don’t offer.

In theory, there’s nothing stopping you from owning both credit cards, though you should do the math. Make sure you can spend enough on the Obsidian Card to get enough Bilt Cash to unlock the full earnings potential on rent or mortgage payments.

When it comes to the Chase Sapphire Preferred card, consider the stringent application Chase 5/24 rules and make sure you haven’t opened 5 credit cards (or more) in the past 24 months to maximize your approval odds.

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A maximum benefit amount and certain restrictions and limitations apply. Please review the Bilt Obsidian Mastercard Guide to Benefits for details.