Why It Makes Sense To Apply for a Chase Sapphire Preferred Card by the End of 2024

If your goal is to earn more travel rewards, the Chase Sapphire Preferred^® Card is frequently our top recommendation. This popular travel credit card comes with the following welcome offer for new applicants:

As 2024 draws to a close, the Chase Sapphire Preferred card makes a perfect addition to any traveler’s wallet. Here’s a breakdown of the value you can unlock during your first year as a cardholder.

BEST BEGINNER CARD

Chase Sapphire Preferred^® Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the in's and out's 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.

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 Offer

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

60,000 bonus points

UP's Bonus Valuation*:

$1,200

Annual Fee

$95

APR

20.74% - 27.74% 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 cardapplication.

Good to Excellent (670-850)

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
• 5x points on select Peloton purchases over $150 (through March 31, 2025)
• 5x points on Lyft purchases (through March 31, 2025)

Cons

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

Read Full Review

Card Highlights

• Earn 60,000 bonus points after you spend $4,000 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, $50 Annual Chase Travel Hotel Credit, plus more.
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
• Member FDIC

Financial Snapshot

• APR: 20.74% - 27.74% Variable
• Foreign Transaction Fees: None

Rewards Center

Chase Ultimate Rewards

Why the Chase Sapphire Preferred Shines in Year One

The first year after opening an account is often when travel credit cards deliver the most value. As we head toward the end of the year, applying for a Chase Sapphire Preferred card can help you maximize Ultimate Rewards points earnings for 2025.

In addition to its points-earning and redemption potential, here’s a breakdown of the monetary value you can expect from the card in its first year. (We made some estimations based on the tangible benefits of the credit card, though there are a ton of important perks like travel insurance and primary rental car insurance that you can’t necessarily place a price tag on.)

Welcome Bonus Offer: $1,200+

For starters, there’s the opportunity to earn the welcome bonus offer. Since we value Chase Ultimate Rewards points at 2.0 cents apiece, these bonus points on the Chase Sapphire Preferred card is worth more like $1,200.

It usually takes 1 billing cycle to receive the welcome bonus offer, so the sooner you’re able to meet those minimum spend requirements, the better.

That’s a huge number compared to the ongoing $95 annual fee.

Hotel Statement Credit: Up to $50

The Chase Sapphire Preferred card offers a $50 annual hotel credit, applicable to bookings made through the Chase Travel portal. This credit is awarded each cardmember anniversary, allowing you to recoup up to $50 in value during your first year of membership.

DoorDash Credit: Up to $120

Good news for Chase cardholders — the issuer extended its partnership with DoorDash through Dec. 31, 2027. Chase Sapphire Preferred cardholders can activate a complimentary DashPass membership for at least one year to get free delivery and lower service fees.

Beyond that, cardholders now enjoy up to a $10 statement credit per month on non-restaurant DoorDash orders. DoorDash has expanded its offerings recently, and it’s possible to shop at supermarkets, convenience stores, pet stores, and even beauty retailers like Sephora. DoorDash frequently offers promotions on its app, so I love using my $10 credit when there’s a sale going on.

Within the first year of card membership, there’s an opportunity to get up to $120 back in statement credits with select DoorDash purchases.

Final Thoughts

The Chase Sapphire Preferred card will always remain as my favorite starter card in my wallet for its everyday and travel perks. Above all, having Chase Ultimate Rewards points is essential to my strategy as they’re some of the best rewards to book flights and hotels.