Advertiser Disclosure

Many of the credit card offers that appear on this site are from credit card companies from which we receive financial compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). However, the credit card information that we publish has been written and evaluated by experts who know these products inside out. We only recommend products we either use ourselves or endorse. This site does not include all credit card companies or all available credit card offers that are on the market. See our advertising policy here where we list advertisers that we work with, and how we make money. You can also review our credit card rating methodology.

Why I’ll Never Close My Chase Sapphire Preferred Card

Ehsan Haque's image
Ehsan Haque
Ehsan Haque's image

Ehsan Haque

Content Contributor

95 Published Articles

Countries Visited: 100U.S. States Visited: 24

Ehsan is an avid traveler who has traveled to 100 countries, diligently using points and miles to fund his journeys. Currently, he holds 32 active credit cards and earns over a million points and mile...
Edited by: Stella Shon
Stella Shon's image

Stella Shon

Senior Features Editor

142 Published Articles 847 Edited Articles

Countries Visited: 28U.S. States Visited: 30

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 ...
& Jestan Mendame
Jestan Mendame's image

Jestan Mendame

Compliance Associate

214 Edited Articles

Countries Visited: 12U.S. States Visited: 3

Since 2016, he has embraced the life of a digital nomad, making the world his office. He has built a career in social media marketing and blogging for various travel brands, which is also his bread an...

We may be compensated when you click on product links, such as credit cards, from one or more of our advertising partners. Terms apply to the offers below. See our Advertising Policy for more about our partners, how we make money, and our rating methodology. Opinions and recommendations are ours alone.

Even though I have over 30 active credit cards, each serves a unique purpose. Whether it’s a free hotel night certificate, airport lounge access, car rental insurance, or a free checked bag, I have a card for almost every situation.

However, managing a portfolio of cards comes with a significant cost — over $2,500 in annual fees. Every year, I review my cards to see if they still offer enough value to keep. While many cards stay on the “keep” list, some are no-brainers, like the Chase Sapphire Preferred® Card.

I’ve had the Chase Sapphire Preferred card for more than 8 years now, and it was my first travel rewards credit card — as it is for so many others. It offers a long list of benefits and a fantastic rewards structure, making it a well-rounded travel credit card.

Here’s why I’ll never part ways with my Chase Sapphire Preferred card.

Chase Sapphire Preferred Card Overview

OFFER ENDING SOON
Chase Sapphire Preferred® Card
Star rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating iconStar rating icon
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.

Learn More(at Chase's secure site)
A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.
Get up to $1,050 in Chase TravelSM value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That’s worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year.
$300 Chase Travel℠ Credit + 60,000 bonus points
$1,500
$95
20.99% - 27.99% 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 cardapplication.
Good to Excellent (670-850)

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
  • 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
  • Get up to $1,050 in Chase Travel℠ value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That's worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year.
  • 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: 20.99% - 27.99% Variable
  • Foreign Transaction Fees: None
Rewards Center

Chase Ultimate Rewards

Although no specific credit card is best for all situations, some are better than others. The Chase Sapphire Preferred card is one of the best travel credit cards on the market, thanks to its incredible benefits.

Aside from an intriguing welcome bonus offer and accelerated earnings on travel, dining, online grocery purchases, and streaming services, the card provides several interesting benefits all for a $95 annual fee:

Hot Tip:

The Chase Sapphire Preferred card earns Chase Ultimate Rewards points, which are highly valuable for travel redemptions. Check out our detailed guide on the best ways to redeem Chase Ultimate Rewards points for maximum value.

My 3 Favorite Benefits of the Chase Sapphire Preferred Card

Here are some of the best benefits of the Chase Sapphire Preferred card, in no particular order.

1. Primary Car Rental Insurance

Everyone needs to rent a vehicle at some point. However, renting a car isn’t always easy, as there are various fees and rental car company insurance plans.

When renting a vehicle, rental car companies require drivers to sign a Collision Damage Waiver (CDW), which is a protection that covers damage from collision or theft to most rental vehicles.

This comprehensive coverage reimburses you for damages or a replacement if your rental car is involved in (almost) any sort of accident. It is required and can often be expensive, depending on several factors. Rental car companies make a lot of money selling CDW policies, which can be upwards of $35 per day.

Car Rental and Shuttle Signage Upgraded Points LLC 2
Make sure to book a rental car with the right credit card! Image Credit: Upgraded Points LLC

Arguably, the most interesting benefit of the Chase Sapphire Preferred card is that it comes with primary car rental insurance. With the CDW on the Chase Sapphire Preferred card, drivers can decline the rental car company’s coverage and still be covered.

Rental car coverage via credit cards is often secondary, meaning you must first file a claim with your primary insurance company before the secondary coverage kicks in. The Chase Sapphire Preferred card bypasses this by providing primary coverage, allowing you to file a claim directly without going through another insurance company first.

To qualify for rental car coverage through the Chase Sapphire Preferred card, you must book the rental car with the card and decline the rental car company’s CDW coverage (sometimes called a “loss damage waiver”). The coverage applies to rentals in the U.S. and most other countries worldwide. 

Over the past 5 years, I have rented more than 25 vehicles in nearly a dozen countries. I booked the rental car with my Chase Sapphire Preferred card each time to ensure I was fully covered.

2. Comprehensive Travel Insurance

Checked Baggage Upgraded Points LLC 2
Travel insurance is incredibly important as things can go wrong! Image Credit: Upgraded Points LLC

Fortunately, the fantastic insurance and protections extend far beyond rental cars. In addition to primary rental car insurance, the Chase Sapphire Preferred card also provides among the best travel insurance of any credit card. This includes:

  • Trip Cancellation and Interruption Insurance: You can get reimbursed up to $10,000 per person and $20,000 per trip in non-refundable travel expenses if you need to cancel your trip or end it early due to illness, severe weather, or other covered circumstances
  • Trip Delay Insurance: You can get reimbursed up to $500 per ticket if your flight is delayed 12 hours or requires an overnight stay. This relates to items like accommodations, toiletries, transportation, food, etc.
  • Baggage Delay Insurance: You can get reimbursed for up to $100 per day (up to 5 days) for essential items if your checked baggage is delayed more than 6 hours
  • Lost Luggage Insurance: You can get reimbursed for a maximum of $3,000 to repair or replace your baggage (including carry-on baggage) due to physical loss, theft, or damage

Although I have never had to use any baggage or luggage insurance, I have had to file claims under the trip cancellation and trip delay insurance. This has saved me over $2,000 over the course of 5 years.

3. Access to Chase Travel Partners

Caption by Hyatt Namba Osaka room
You can transfer Chase Ultimate Rewards points to World of Hyatt to book hotels for as little as 3,500 points. Image Credit: Ehsan Haque

Chase Ultimate Rewards points are considered to be among the most valuable points currencies, thanks to their flexibility and numerous transfer options. According to our valuations, they are worth 2.0 cents apiece, second only to American Express Membership Rewards points.

Although several credit cards earn Chase Ultimate Rewards points, only a few can transfer these points to Chase’s long list of airline and hotel transfer partners, which is typically where you get the most value from the points. Of course, the Chase Sapphire Preferred card is one of those cards.

Some of Chase’s airline transfer partners, such as Air Canada Aeroplan and British Airways Executive Club, can be an excellent way to book Star Alliance and Oneworld award tickets, respectively. Meanwhile, you can also leverage free hotel nights worldwide with hotel transfer partners like World of Hyatt and Marriott Bonvoy.

Personally, Chase Ultimate Rewards points are my favorite currency. I find them incredibly easy to earn (having 7 Chase cards helps) and even easier to redeem. In fact, this year alone, I have redeemed over 400,000 Chase Ultimate Rewards points for more than $20,000 of value.

Final Thoughts

The Chase Sapphire Preferred card is one of my favorite travel rewards credit cards, and for good reason. It is also widely considered as the best starter credit card; however, it is more than just that. Unless Chase makes significant changes to the Chase Sapphire Preferred card, such as removing essential benefits or increasing the annual fee without some additional perks or benefits, I can’t ever see myself closing this credit card.

Frequently Asked Questions

What's the annual fee on the Chase Sapphire Preferred card?

The Chase Sapphire Preferred card has a $95 annual fee.

What are the best Chase transfer partners?

Chase has a long list of airline and hotel transfer partners. Some partners, including Air Canada Aeroplan and World of Hyatt, can provide more value when redeeming points.

Do you get Chase travel protections if you use Ultimate Rewards points?

Yes. You can get trip protections and benefits if you purchase your trip in part or in full with your Chase Sapphire Preferred card, Ultimate Rewards points, or a combination of the 2.

Does the Chase Sapphire Preferred card have lounge access?

No, the Chase Sapphire Preferred card does not have a complimentary lounge access benefit — even to the Chase Sapphire lounges.

Ehsan Haque's image

About Ehsan Haque

Ehsan is an avid traveler who has traveled to 100 countries, diligently using points and miles to fund his journeys. Currently, he holds 32 active credit cards and earns over a million points and miles annually, primarily using them for luxury hotels and long-haul premium cabins.

INSIDERS ONLY: UP PULSE

Deluxe Travel Provided by UP Pulse

Get the latest travel tips, crucial news, flight & hotel deal alerts...

Plus — expert strategies to maximize your points & miles by joining our (free) newsletter.

We respect your privacy. This site is protected by reCAPTCHA. Google's privacy policy  and terms of service  apply.

Deluxe Travel Provided by UP Pulse
DMCA.com Protection Status