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

Stella Shon's image
Stella Shon
Updated: 
Edited by: Keri Stooksbury
& Jestan Mendame
Why It Makes Sense To Apply for a Chase Sapphire Preferred Card by the End of 2024
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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:

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

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 FIRST TRAVEL CARD
Chase Sapphire Preferred® CardTerms Apply / Rates & Fees
Chase Sapphire Preferred® Card

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.
Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
75,000 points
$1,500
$95
19.49 - 27.74% Variable
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 bonus categories include travel, dining, online grocery purchases (excluding Walmart, Target, and wholesale clubs), gas, EV charging, vacation home rentals with top brands, and streaming services.

It offers flexible point redemption options, no foreign transaction fees, and strong travel insurance coverage, including primary car rental insurance. If you travel a few times a year and spend on dining, the card is likely to be a good choice, but it’s hard to justify if you don’t dine out or travel often.

Pros & Cons
Pros
  • 5x points on all travel booked via Chase Travel
  • 3x points on dining purchases, online grocery purchases (excluding Walmart, Target, and wholesale clubs), gas, EV charging, vacation home rentals with top brands (such as Airbnb and Vrbo), and select streaming services
  • 2x points on all other travel worldwide
Cons
  • $95 annual fee
  • Subject to Chase’s 5/24 application restrictions
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, 3x on vacation homes at top brands, 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 Coverage, Emergency Evacuation and Transportation, and more.
  • Get a year of complimentary Apple TV when activated by December 31, 2026 - a value of $180.
  • Complimentary DashPass membership, a $120 value for 12 months. Enjoy $0 delivery fees and reduced service fees on eligible DoorDash orders, plus exclusive Chase savings on grocery, everyday essentials, and more. Activate by 12/31/29.
  • 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: 19.49 - 27.74% Variable
  • Foreign Transaction Fees: None
Rewards Center

Chase Ultimate Rewards

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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 $1,500.

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.

Hot Tip:

If you choose to redeem Ultimate Rewards points for travel, you’ve got a couple of options. Points are worth up to 75% more on the Chase Travel portal, while you can also transfer your points to Chase’s airline and hotel partners at a 1:1 ratio.

Hotel Statement Credit: Up to $100

The Chase Sapphire Preferred card offers a $100 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 $100 in value during your first year of membership.

» Related: How I Scored a Free Night at a Hostel Using This Popular Credit Card Perk

DoorDash Credit: Up to $120

Good news for Chase cardholders — the issuer extended its partnership with DoorDash through Dec. 31, 2029. 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.

» Related: How I Use This Easy DoorDash Credit on the Chase Sapphire Preferred Card

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.

Featured Image Credit: Upgraded Points
Stella Shon's image

About Stella Shon

With a degree in media and journalism, Stella has been in the points and miles game for more than 6 years. She most recently worked as a Corporate Communications Analyst for JetBlue. Find her work in The New York Times, USA Today, and more.

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