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Take an in-depth look at the Chase Sapphire Preferred® Card's perks and benefits — along with its massive welcome offer — to see if it aligns with your lifestyle, preferences, and financial goals.

You can earn 75,000 bonus points after spending $5,000 on purchases in the first three months from account opening. 

Here's the full Sapphire Preferred rewards rate:

5x points on travel purchased through Chase Travel℠

3x points on dining, vacation homes, gas & EV charging, top streaming services, and online groceries (excluding Walmart, Target, and wholesale clubs)

2x points on all other travel purchases

1x points on all other purchases

General travel expenses, including flights and hotel stays, provide 2x points. That's useful when planning upcoming trips, but the true hero may be the 3x points on dining, vacation homes, gas & EV charging, top streaming services, and online groceries. With these categories, you can earn rewards for a future vacation when you grab a bite to eat, fill up the tank, or pay for your monthly entertainment subscription, such as Disney+ or Netflix.

One of our favorite Sapphire Preferred features is that you don't have to pay an excessive annual fee. For $95 per year, you can access one of the top travel credit cards available and earn flexible Chase points. Considering this card's many benefits, it's more than a reasonable fee.

The Sapphire Preferred doesn't charge foreign transaction fees. This means you don't have to pay an extra 3% when purchasing from a foreign merchant or retailer. Credit cards with no foreign transaction fees are essential if you travel internationally.

The Sapphire Preferred works on the Visa card network to process transactions. It typically doesn't matter which major card network — including American Express, Discover, Visa, and Mastercard — you use in the U.S. because they're all widely accepted.

However, international travelers prefer Visa and Mastercard because they're more accepted worldwide than Amex and Discover. Visa credit cards are accepted in more than 200 countries and territories globally.

You can earn up to $100 in statement credits each anniversary year for hotel stays you purchase through Chase Travel. Taking advantage of this benefit each year can immediately offset most of the $95 annual fee.

Read here: Best hotel credit cards

As a Chase Sapphire Preferred cardholder, points can be worth up to 1.5x on top hotels and select flights, and up to 1.75x on premium cabin tickets with select airlines through Chase Travel.

Chase transfer partners are one of the reasons we think Chase points are so valuable. As a redemption option, you can transfer points to one of over a dozen travel partners, including Southwest Airlines, United, and World of Hyatt.

You can often get more value from your rewards by transferring them to travel partners than redeeming them through Chase Travel. However, it depends on the specific redemption, and Chase Travel is typically easier to navigate.

Here's the complete list of Chase transfer partners:

Aer Lingus, AerClub

Air Canada Aeroplan

British Airways Executive Club

Emirates Skywards

Air France-KLM Flying Blue

Iberia Plus

IHG Rewards Club

JetBlue TrueBlue

Marriott Bonvoy

Singapore Airlines KrisFlyer

Southwest Airlines Rapid Rewards

United MileagePlus

Virgin Atlantic Flying Club

World of Hyatt

Part of the appeal of the Chase Ultimate Rewards program is being able to combine points between eligible Chase credit cards that earn Ultimate Rewards. Depending on the situation, this provides opportunities to get more value from your points.

For example, you might use the Chase Freedom Unlimited® card to make certain everyday purchases. You can move points from the Freedom Unlimited to your Sapphire Preferred, and redeem them through Chase Travel.

Using the same strategy, you can move points from another eligible card to your Sapphire Preferred and then transfer them to an available travel partner.

Depending on your needs, you can redeem points for these redemption options:

Transfers to airline and hotel partners

Chase Travel redemptions, including flights, cruises, rental cars, and hotel stays

Combine points between eligible Chase cards

Cash back (statement credit or electronic deposit into an eligible U.S. bank account)

Gift cards

Chase Dining program

Experiences

Pay Yourself Back program

Pay with Points program (Amazon.com and PayPal)

You can get a statement credit toward the application fee for TSA PreCheck, Global Entry, or NEXUS with your Chase Sapphire Preferred. This credit is worth up to $120 every four years, so you can use it when you apply and when you renew the program.

The Chase Sapphire Preferred provides various types of travel coverage:

Auto rental collision damage waiver: Provides primary coverage for damages caused by theft or collision on eligible car rentals.

Baggage delay insurance: Reimburses for essential purchases on eligible delays of over six hours.

Lost luggage reimbursement: Reimburses for replacing or repairing eligible baggage due to loss, damage, or theft during a covered trip.

Travel accident insurance: Covers the cardholder and eligible family members on eligible trips against different types of accidents.

Trip cancellation and interruption insurance: Covers you against cancellations or interruptions on eligible trips due to covered situations, such as sickness or severe weather.

Trip delay reimbursement: Covers unreimbursed expenses, such as meals and lodging, for eligible delays of 12 hours or more or delays requiring an overnight stay.

Travel and emergency assistance services: Provides access to travel and emergency assistance services for various situations, including medical referrals, emergency transportation, and more. Note that benefits administrators can help you locate the services you need, but the costs of any services you decide to use are your responsibility.

Any eligible new purchases you make with your card can receive these benefits:

Purchase protection: Covers against damage or theft of eligible new purchases.

Extended warranty protection: Extends eligible warranties on covered purchases by one additional year.

Read our full review of the Sapphire Preferred card

As a Sapphire Preferred cardmember, you can receive early access to tickets and priority seating. The events and experiences vary but could include festivals, concerts, dining experiences, and more.

You can get a complimentary one-year DashPass membership for $0 delivery fees and lower service fees on eligible orders. After you activate this offer by Dec. 31, 2027, you can receive a $10 discount each calendar month on one qualifying non-restaurant DoorDash order.

You can contact the Visa Signature Concierge (1-800-953-7392) for help with restaurant reservations, tickets to various events, and more.

Eligible Chase customers can break up purchases into multiple ways using the Chase Pay Over Time feature. If eligible and available, you can use Chase Pay Over Time after your purchase or during the checkout process with participating online retailers.

Your rewards don't expire as long as your account is active.

Chase Sapphire Preferred cardholders can refer friends and family to one of the Chase Sapphire products, including the Chase Sapphire Reserve® or Sapphire Preferred. You can earn bonus points for each approved person, up to a yearly limit.

You can call the number on the back of your card for 2/47 customer service assistance.

The Chase Sapphire Preferred is a great rewards credit card for people who want to travel more for less. Its low $95 annual fee is easily offset by its generous welcome bonus, high rewards rate, and additional perks, including extensive travel and purchase coverage.

The Chase Sapphire Preferred is an excellent travel rewards card, but a no-annual-fee card may make more sense depending on your preferences. Consider these Sapphire Preferred disadvantages:

$95 annual fee

No airport lounge access

No introductory APR offer

Typically requires a good or excellent credit score

Yes, the Chase Sapphire Preferred provides an application fee credit for TSA PreCheck, Global Entry, or NEXUS every four years. Find more options for getting TSA PreCheck for free with your credit card here.

You must make applicable purchases with your Chase Sapphire Preferred card to be eligible for travel insurance coverage. For example, you can receive auto rental coverage if you decline the rental company's collision insurance and charge the entire rental car cost to your card.

The Chase Sapphire Preferred doesn't provide a free Lyft Pink membership.

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to the Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank's website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.

The Sapphire Preferred's benefits make it easy for many cardholders to offset the cost of the affordable annual fee.

The Chase Sapphire Preferred is one of the easiest cards to hold onto year after year because of its excellent rewards and benefits and reasonable annual fee.

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