Did the Chase Sapphire Preferred card change?

Yes, the Chase Sapphire Preferred card has changed over the years, though the annual fee has remained low. Today, the card offers perks like a $100 hotel credit at Chase Travel and up to a $120 Global Entry, TSA PreCheck, or NEXUS credit, as well as bonus earning categories and the ability to transfer your Chase Ultimate Rewards points to partners.

Is the Chase Sapphire Preferred card still worth it?

Yes, the Chase Sapphire Preferred card is well worth it, thanks to high bonus earning categories, the ability to transfer Chase Ultimate Rewards points to partners, a complimentary Apple TV subscription for 1 year, statement credits for Global Entry, TSA Precheck, or NEXUS, and the $100 hotel credit for Chase Travel, which helps outweigh the low annual fee.

How can you get the annual fee waived for the Chase Sapphire Preferred card?

The annual fee on the Chase Sapphire Preferred card is low: . You could try calling Chase before your card renews to waive the annual fee, but there are no guarentees it will work.

What are the downsides of the Chase Sapphire Preferred card?

There are disadvantages to the Chase Sapphire Preferred card: an annual fee, fewer additional benefits than other Sapphire-branded cards, and no airport lounge access.

Chase Sapphire Preferred Card’s Benefits Over the Years: 2009 to 2026

Updated: June 21, 2026, 8:00am CDT

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Table of Contents

Chase Sapphire Preferred Card Benefits: 2009 to 2026
Card Evolution: 2009 to 2026
Final Thoughts

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The Chase Sapphire Preferred^® Card launched in 2009 and has evolved significantly during nearly 2 decades. It was a trailblazer when it launched, one of the first flexible rewards cards of its time, ahead of many popular flexible and travel rewards cards that would soon come from Amex, Capital One, and Citi.

Read on to see how the Chase Sapphire Preferred has changed during its 17-year run.

Chase Sapphire Preferred Card Benefits: 2009 to 2026

When the Chase Sapphire Preferred card was released in 2009, it had an $85 annual fee that was waived the first year. Consumers could choose between that card and the no-annual-fee Chase Sapphire^® Card, which no longer exists.

Today, the Chase Sapphire Preferred’s benefits are worth more than $3,700, and the card comes with an annual fee of $95 and a generous welcome bonus offer:

Earn ~~75,000~~ 100,000 points after spending $5,000 on purchases in the first 3 months.

This article provides a high-level overview of how the card and its benefits have evolved since its launch in 2009.

Hot Tip:

In 2026, the Sapphire lineup includes the entry-level Chase Sapphire Preferred card, the premium Chase Sapphire Reserve^®, and the Sapphire Reserve for Business℠.

Card Evolution: 2009 to 2026

Here’s how the card’s benefits, perks, welcome offer bonuses, and fees have ebbed and flowed over the years:

2009: Launch

When the Chase Sapphire Preferred card launched in 2009, it came with an $85 annual fee that was waived the first year, as well as a welcome bonus offer of 15,000 Chase Ultimate Rewards points after you spent $1,000 in the first 3 months. One of the card’s main perks was receiving a 7% dividend in points on all new points earned annually. And if you spent more than $50,000 each year, you’d get 10,000 bonus points.

Back then, Chase did have transfer partners such as Continental Airlines (now merged with United Airlines), British Airways, Marriott, and IHG, and you could move points over at a 1:1 ratio. You could also redeem points through the Ultimate Rewards travel booking tool, where each point was worth 1.25 cents.

The card also came with travel and purchase protections such as trip cancellation insurance, lost luggage reimbursement, a concierge service, extended warranty protection on purchases, and others.

2009 to 2011: Annual Fee Increase, Welcome Offer Increase, Bonus Categories, United Added as a Transfer Partner

Between 2009 and 2011, the annual fee on the Chase Sapphire Preferred card increased to $95 annually, though it was still waived the first year. More than a decade later, the annual fee remains the same at $95, though it’s no longer waived in the first year.

With the new annual fee came a new welcome bonus offer: You earned 50,000 points after spending $3,000 in the first 3 months.

In 2011, Chase added United MileagePlus as a transfer partner, alongside partners including Amtrak, British Airways, Continental, IHG, Hyatt, Korean Air, and Marriott.

Chase also added bonus spending categories to the card:

2x on travel purchases (airfare, hotel, car, trains, travel agencies, taxis, etc.)
2x on dining purchases

2013: Dining Bonus Launches

Chase began offering 3x points on all dining purchases on the first Friday of each month.

2014: No More 7% Dividend and Addition of Car Rental Insurance

Chase announced it would no longer offer the 7% points dividend in 2014. That year, the card also added rental car insurance benefits.

2016: Dining Bonus Removal

The issuer discontinued the dining bonus for the first Friday of the month in 2016. In 2016, you could also transfer points to more partners, including Southwest, Virgin Atlantic, Singapore Airlines, Ritz-Carlton, and others.

This is also the year the premium Chase Sapphire Reserve card launched, which is now about a decade old.

2017: 1 Sapphire Card Rule Goes Into Effect

Thanks to the newly expanded Sapphire lineup, Chase made a rule that you could only hold 1 Sapphire card product at a time: either the Chase Sapphire Preferred card or the Chase Sapphire Reserve card.

2018: Increased Welcome Bonus Offer and Updated Eligibility Restrictions

In 2018, Chase offered the ability to earn 80,000 points when applying for the card, which cardholders could earn in 2 parts:

50,000 points after spending $4,000 in the first 3 months
30,000 additional points after meeting an additional spending threshold (either $20,000 or $30,000 within the first year, based on personal offers)

Chase also added more restrictive language to its welcome offer terms, stating that applicants were ineligible for the Chase Sapphire Preferred card’s welcome offer if they’d gotten a welcome offer bonus on a Sapphire product (either card) within the previous 48 months.

Hot Tip:

Wondering if you’re eligible for a bonus on a Sapphire card? We detailed the eligibility changes to the Chase Sapphire Preferred card’s welcome offer over the last several years, so you can find out.

2019: Annual Fee No Longer Waived the First Year

In 2019, the welcome offer was 60,000 after you spent $4,000 in the first 3 months. However, Chase took away the annual fee waiver for the first year of card membership. Now you had to pay $95 per year, starting after your card was approved.

2020: Temporary Bonus Categories During the COVID-19 Pandemic

During the pandemic, Chase added a temporary bonus category that allowed cardholders to earn 3x at grocery stores (up to $1,500 monthly) in May and June 2020.

2021: Benefits Overhaul

Chase completely revamped the benefits of the Chase Sapphire Preferred card starting on August 16, 2021 (Source: Chase):

5x total points on all travel purchased through Chase Ultimate Rewards
3x points on dining, including eligible delivery services, takeout, and dining out (previously 2x)
3x points on certain streaming services
3x points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
2x points on travel and 25% more value when points are redeemed for travel through Chase Ultimate Rewards
1x points on everything else
$50 annual credit on hotel stays purchased through Ultimate Rewards. New cardmembers start earning toward the credit immediately, and existing cardmembers start earning after their next account anniversary.
10% card anniversary points bonus
Higher welcome offer: 100,000 points after spending $4,000 on purchases in the first 3 months from account opening
Sleek new card design

2022: Chase Travel Launches

Chase launched its travel platform, Chase Travel. The bank also launched its first Sapphire Lounge by The Club and acquired The Infatuation.

2023 to 2024: Welcome Offer Fluctuations

Chase offered various welcome offers in 2023 and 2024, most of them hovering around 75,000 to 80,000 points for spending a specific amount in the first 3 months.

2025: Eligibility Changes and Points Boost

In 2025, Chase introduced a third product into its Sapphire lineup, the Chase Sapphire Reserve for Business card (Source: Chase). The bank also completely revamped the Chase Sapphire Reserve card. Subsequently, Chase amended its eligibility rules on June 23, 2025, to allow customers to hold both the Chase Sapphire Preferred card and the Chase Sapphire Reserve card at the same time.

Applicants who don’t qualify for a welcome offer see a pop-up during the application process before a hard pull on their credit is triggered. And current Sapphire cardholders could be blocked from earning a first-time welcome bonus offer on the other Sapphire card, even if they hadn’t gotten that specific card’s welcome offer beforehand.

Chase also changed the way Chase Sapphire Preferred cardholders can redeem their Ultimate Rewards points within Chase Travel. Points are no longer worth 1.25 cents apiece. Now points are worth 1 cent each, but with Points Boost, cardholders may get a value of 1.5 to 1.75 cents each when booking certain airlines and hotels.

Hot Tip:

Wondering what your Chase Ultimate Rewards points are worth? Check our monthly valuations.

2026: Benefits Change, Annual Fee, and Welcome Offer

In 2026, the Chase Sapphire Preferred card was refreshed on June 15, 2026, to offer new and valuable benefits for a $95 annual fee (it costs $0 to add authorized users). A few key benefits were also removed or changed: The 10% anniversary bonus left, and the transfer ratio for Hyatt was devalued.

That said, the card now offers a few newer benefits — most notably a doubled Chase Travel hotel credit, complimentary Apple TV (for 1 year when activated by December 31, 2026), additional travel protections, and a TSA Precheck or Global Entry credit (see more details below).

The Chase Sapphire Preferred bonus presently offers a welcome bonus offer that we deem worth at least $2,000:

Earn ~~75,000~~ 100,000 points after spending $5,000 on purchases in the first 3 months.

LIMITED-TIME OFFER

Terms Apply / Rates & Fees

Chase Sapphire Preferred^® Card

U.P. Rating

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

Apply Now(at Chase's secure site)

Chase Sapphire Preferred^® Card

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

Welcome OfferEarn 75,000 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
75,000 100,000 points

UP's Offer Valuation*:
$2,000

Annual Fee

$95

APR

19.24% - 27.49% Variable

Credit Recommended

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, gas, EV charging, vacation homes, 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 and emergency evacuation. 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 (excluding Walmart, Target, and wholesale clubs), gas, EV charging, vacation homes (such as Airbnb and Vrbo), 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 100,000 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, 3x on vacation homes, 3x on gas & EV charging, 3x on top streaming services and online groceries (excluding Walmart, Target, and wholesale clubs), 2x on all other travel purchases, 1x on all other purchases
Earn up to $100 in statement credits each account anniversary year for hotel stays through Chase Travel
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Get a year of complimentary Apple TV when activated by December 31, 2026 - a value of $156.
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.
Receive one statement credit of up to $120 every four years as reimbursement for the application fee charged to your card for a Global Entry, TSA Precheck^® or NEXUS application.
Transfer points to leading airline and hotel loyalty programs
Member FDIC

Financial Snapshot

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

Rewards Center

Chase Ultimate Rewards

Check out the card perks below: (Source: Chase):

Get up to $100 in statement credits each account anniversary year for hotel stays purchased through Chase Travel.
Get up to a $120 Global Entry, TSA PreCheck, or NEXUS credit every 4 years.
Earn 5x total points on travel purchased through Chase Travel, excluding hotel purchases that qualify for the $50 annual Chase Travel hotel credit.
Earn 5x points on Lyft rides through September 30, 2027.
Earn 5x points on eligible Peloton equipment and accessory purchases over $150 through December 31, 2027.
Earn 3x points on dining, including eligible delivery services and takeout.
Earn 3x points on online grocery purchases (excluding Target, Walmart, and wholesale clubs).
Earn 3x points on select streaming services.
Earn 3x points on gas and EV charging.
Earn 3x points on vacation homes, including Airbnb, Vrbo, and others.
Earn 2x on all other travel purchases.
Earn 1x on all other purchases.
Points Boost: Redeem Chase Ultimate Rewards points for specific hotels and flights with select airlines through Chase Travel.
Get 10% of your total purchases made the previous year on your account anniversary (This benefit isn’t available for cardholders who apply on or after June 15, 2026. For cardmembers who applied prior to June 15, 2026, eligible purchases made through October 1, 2026, will continue to earn the 10% bonus, which will be awarded by January 31, 2027.)
Get a complimentary DoorDash DashPass membership, a $120 value for 12 months with $0 delivery fees and reduced service fees on eligible DoorDash orders when you activate by December 31, 2027.
Receive a $10 DoorDash credit each month ($120 annually) to save on groceries, retail orders, and more through December 31, 2027.
Get a complimentary Apple TV subscription for 1 year when activated by December 31, 2026.

Currently, you can transfer your Chase Ultimate Rewards points to the following transfer partners at a 1:1 ratio unless otherwise specified:

SCROLL FOR MORE

Chase Transfer Partner	Minimum Transfer	Transfer Ratio	Transfer Time
Airline Programs
Aer Lingus AerClub	1,000	1:1	Almost Instant
Air Canada Aeroplan	1,000	1:1	Almost Instant
Air France-KLM Flying Blue	1,000	1:1	1 hour
The British Airways Club	1,000	1:1	Almost Instant
Club Iberia Plus	1,000	1:1	Almost Instant
JetBlue TrueBlue	1,000	1:1	Almost Instant
Singapore Airlines KrisFlyer	1,000	1:1	1-2 days
Southwest Airlines Rapid Rewards	1,000	1:1	Almost Instant
United Airlines MileagePlus	1,000	1:1	Almost Instant
Virgin Atlantic Flying Club	1,000	1:1	Almost Instant
Hotel Programs
IHG One Rewards	1,000	1:1	1 day
Marriott Bonvoy	1,000	1:1	2 days
World of Hyatt	1,000	1:1*	Almost Instant
Wyndham Rewards	1,000	1:1	Unknown

* Chase Sapphire Preferred^® Card and Ink Business Preferred^® Credit Card cardmembers’ Ultimate Rewards points will transfer to World of Hyatt at a rate of 4:3. This is effective immediately for new Chase Sapphire Preferred cardmembers who apply on or after June 15, 2026, and effective October 1, 2026, for cardmembers who applied prior to June 15, 2026. For Ink Business Preferred cardmembers, this is effective October 1, 2026, for existing cardmembers and for new cardmembers who apply on or after October 1, 2026.

The Chase Sapphire Preferred card has no foreign transaction fees and also comes with trip cancellation and interruption insurance, primary car rental coverage, emergency evacuation and transportation coverage, trip delay reimbursement, baggage delay insurance, travel and emergency assistance, extended warranty protection, and purchase protection.

You can also earn 15,000 points for each friend and family member you refer, up to 100,000 bonus points per year (Source: Chase).

2027 and Beyond: Annual Fee Increase, Benefit Changes, New Card Products?

The Chase Sapphire Preferred card’s annual fee has remained the same for well over a decade, despite various benefits changes, most recently in June of 2026. We hate to say it, but we think the card’s annual fee may be due for an increase, especially since the Chase Sapphire Reserve card’s annual fee increased last year.

If it does increase, the benefits may also change to reflect the card’s new fee, though we’re not sure how. Over the past few years, flexible rewards cards have slowly evolved from travel cards into lifestyle cards, offering shopping and statement credits as perks, so that could happen with the Chase Sapphire Preferred card.

Or perhaps this card’s fee will stay the same, and instead a midtier Sapphire card product will launch, bridging the gap between the Chase Sapphire Preferred card’s low $95 annual fee and the Chase Sapphire Reserve card’s high $795 annual fee. Only time will tell what happens with the Chase Sapphire Preferred card in 2027 and beyond.

Final Thoughts

The Chase Sapphire Preferred card has been on the market for more than 15 years, and although it’s seen many changes, its fee has remained nearly static, and many of its benefits remain similar. If you’re looking for a low-annual-fee card with decent benefits that earns Chase Ultimate Rewards points, the Chase Sapphire Preferred card is the ideal choice.