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Our quick take: The Chase Sapphire Preferred® Card is an ideal choice for people just getting started with travel rewards, since it offers a solid return on travel and dining purchases and earns some of the most valuable travel points around. The card is currently offering an increased sign-up bonuses of 80,000 bonus points after you spend $4,000 on purchases within the first three months from account opening.

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Current sign-up bonus: Earn 80,000 bonus points after you spend $4,000 on purchases within the first three months from account opening. But you’ll have to act quickly — this offer is ending soon and you must apply by the end of day on May 24, 2023.

Best for: People with larger than average travel and/or dining expenses who want basic transferable travel points.

See if you qualify for the Chase Sapphire Preferred with an 80,000-point bonus.

If you’ve done any research on credit cards, then the Chase Sapphire Preferred may sound familiar. At close to 15 years old, it’s practically the granddaddy of travel rewards credit cards.

The Sapphire Preferred offers 2 points per dollar on all travel or if purchased through Ultimate Rewards, you’ll earn 5 total points per dollar spent. You’ll also earn 3 points per dollar spent on dining, select streaming purchases and online delivery purchases (excluding Walmart, Target and wholesale clubs) and 5 points per dollar on Lyft rides through March 2025.

When you have the Sapphire Preferred, you’ll also get discounts on DoorDash food delivery orders, strong travel protections and a 80,000-point sign-up bonus — all for a reasonable $95 annual fee. Plus, the Chase Ultimate Rewards points you earn with this card are among the most valuable points around.

Additionally, on your account anniversary, you’ll earn a 10% point bonus on all purchases made the previous year. That means if you spend $10,000 on the Chase Sapphire Preferred Card, you’ll earn an additional 1,000 bonus points.

But is that enough for the card to justify a spot in your wallet? The credit card market has evolved immensely since the Chase Sapphire Preferred was first introduced. Other cards now offer bonus points or cash back in those same travel and dining categories — in some cases at higher rates — as well as other notable benefits like annual travel credits and airport lounge access.

The key difference, however, is that those other cards are typically accompanied by higher annual fees. So if you aren’t ready to shell out a lot of money for an expensive credit card, the Chase Sapphire Preferred is an excellent starting point.

The Chase Sapphire Preferred currently offers new card holders an increased 80,000 bonus points after you spend $4,000 on purchases in the first three months after opening the account. With this generous offer, it’ll get you off on the right foot for your next vacation. But again, this offer is ending soon, so apply quickly if you want to take advantage of it.

This is even a higher offer than the more luxurious Chase Sapphire Reserve® where you’ll earn a slightly inferior 60,000 bonus points after you spend $4,000 after the first three months of account opening.

Points earned with the card can be redeemed for travel through the Chase Ultimate Rewards travel portal at a rate of 1.25 cents per point, so you’re guaranteed at least $1,000 in travel right off the bat.

You can potentially get even more value by taking some time and effort to maximize Chase’s airline and hotel partners. In fact, the Ultimate Rewards program features some of the best transfer partners, including United Airlines, Southwest and Hyatt Hotels. And with a 2 cent apiece valuation, the 80,000 points earned are worth $1,600 when transferred to a partner loyalty program.

Here’s a complete list of Chase’s 14 partners, all of which transfer at a 1-to-1 ratio — meaning for every 1,000 Chase points, you’ll get 1,000 airline or hotel points or miles when you transfer them:

The reason you’d want to transfer Ultimate Rewards points instead of redeeming them through the Chase travel portal is because airlines and hotels sometimes sell travel for different rates depending on whether you’re paying in cash or points, which means you can sometimes score some fantastic deals by transferring points, especially if you want to fly in first or business class.

Even with many airlines and hotel chains shifting to dynamic-pricing frequent flyer systems, award redemption rates around high-demand dates and holidays often don’t get the same markups as the cash rates. And as travel companies emerge from the pandemic, they’re offering some great points deals in an effort to fill seats on planes and rooms in hotels.

There are also many hidden gems when booking award flights on partner airlines, particularly in premium cabins. A little bit of research and due diligence can definitely save you a lot of money (or points) in the long run.

Click here to earn 80,000 bonus points on the Chase Sapphire Preferred.

Beyond the sign-up bonus, the Chase Sapphire Preferred earns 2 points per dollar on all travel (or 5 total points if purchased through Ultimate Rewards), 3 points per dollar spent on dining, select streaming purchases and online delivery purchases (excluding Walmart, Target and wholesale clubs) and 1 point on everything else.

It should be easy to quickly score plenty of points, since Chase defines both of these popular categories very broadly. “Travel” includes purchases like cruises, mass transit, tolls, parking and even ride-shares, while “dining” includes coffee shops, bars, vending machines and most food delivery services.

Additionally, you’ll earn a 10% bonus on all purchases made the previous year on your cardmember anniversary. So if you spend $10,000 on the card during the previous year, you’ll earn an additional 1,000 bonus points.

There’s one exception to the travel bonus category, but it’s a positive one. Thanks to a partnership with Lyft, through March 2025, Sapphire Preferred card holders earn 3 additional points per dollar on Lyft rides for a whopping total of 5 points per dollar.

Other key benefits of the card include discounts on DoorDash food delivery orders via a complimentary DashPass membership that’s valid for at least 12 months as long as you activate it by Dec. 31, 2024. You’ll also receive a $50 annual credit on hotel stays purchased through Ultimate Rewards.

The Chase Sapphire Preferred also has a comprehensive suite of purchase and travel protections, including an additional year of coverage on eligible purchases with a manufacturer’s warranty of three years or less, protection on your new purchases against damage or theft, coverage of up to $10,000 in the event your trip gets delayed or canceled, reimbursement for delayed or lost baggage and, most notably, primary rental car coverage.

What does “primary rental car coverage” mean? Whenever you use your card to pay for a car rental, you can safely decline the collision damage waiver offered by the rental company — which is usually expensive — and submit the claim directly to Chase instead if you have an accident with your rental car.

The car rental coverage that’s offered by other credit cards is usually secondary, meaning you have to look to your own auto policy first in the event of an accident. With the Sapphire Preferred, you can skip that step and avoid potentially seeing your auto premiums increase as a result of a claim.

To top it all off, the Chase Sapphire Preferred has no foreign transaction fees, so you can safely use it and earn rewards when traveling overseas once borders reopen. Other credit cards can charge 3% to 5% in fees for foreign transactions, so having this benefit can make a big difference to international travelers.

Get the Chase Sapphire Preferred for its travel perks and bonus points on travel and dining.

The Chase Sapphire Preferred doesn’t offer the same luxury travel perks — like airline lounge access and travel credits — as the Chase Sapphire Reserve. That’s expected, considering the annual fee is also a lot lower, but worth noting given the other similarities between the two cards.

It’s also worth pointing out that although the Sapphire Preferred’s $95 annual fee is fairly standard among mid-tier travel credit cards, a few other cards in this category waive their annual fee in the first year, though many no longer do. On the flip side, the Sapphire Preferred does have a higher sign-up bonus than most other cards.

While the bonus categories cover a wide range of purchases, keep in mind there are cards like the Citi® Double Cash Card that earn 2% cash back on all purchases — 1% when you make a purchase, and another 1% when you pay it off — and come with no annual fee at all.

So if it’s straight cash back you’re after, you might be better off with another card. But if you spend a lot on dining, travel (especially on Lyft rides), streaming services and online grocery shopping and could use the travel and shopping protections, you’re going to come out ahead with Sapphire Preferred.

Even if you don’t utilize the Ultimate Rewards program’s transfer partners, you’re getting at least 2.5% back toward travel on all your travel and 3.75% on all dining, select streaming services and select online grocery purchases since your points are worth at least 1.25 cents each, and 6.25% back on Lyft rides. Just don’t plan to carry a balance with the card, as there’s no introductory interest rate on purchases or balance transfers.

The one other downside of the Chase Sapphire Preferred pertains to the application process, and it applies to all Chase credit cards. Chase has an unpublished “5/24” rule, which means if you’ve gotten five or more credit cards across all banks in the previous 24 months, your application for a new card from Chase will be automatically denied. Given this restriction, it’s important to time your credit card applications and apply for the Sapphire Preferred early on.

CNN Underscored has chosen the Citi Double Cash card as our current “benchmark” credit card. That doesn’t mean it’s the best credit card on the market — rather, we use it as a basic standard to compare other credit cards and see where they score better, and where they’re worse.

Here’s how the Chase Sapphire Preferred scores against our benchmark. The features of each card in the below chart are colored in green, red or white. Green indicates a card feature that is better than our benchmark. Red indicates the feature is worse than our benchmark, and white indicates the feature is either equivalent or cannot be directly compared to our benchmark.

When reviewing other credit cards, we use this format and these criteria to compare them with our benchmark. You can read our credit card methodology for more details on what we take into account when it comes to perks, protections and redemption value.

Start earning points to fly in first class with the Chase Sapphire Preferred.

Aside from the Sapphire Preferred’s older sibling, the Chase Sapphire Reserve, the closest comparison to the Sapphire Preferred would be the Capital One® Venture® Rewards Credit Card.

It has the same $95 annual fee as the Sapphire Preferred, but it comes with a Global Entry/TSA PreCheck application fee credit worth up to $100 that helps offset it in the first year. It currently has a sign-up bonus of 75,000 bonus miles when you spend $3,000 on purchases in the first three months after opening the account.

Capital One miles are somewhat less valuable, as they’re worth only 1 cent apiece when redeemed toward travel. They can also transfer to Capital One’s airline and hotel partners, and the issuer has recently improved its transfer program by setting almost all of its transfer ratios at 1-to-1, with just one hotel at 2-to-1 and one airline at 2-to-1.5. You can find more details in our review of the Capital One Venture card.

American Express fields the American Express® Green Card, which was refreshed in 2019 and now offers 3 points per dollar on all travel and dining, and 1 point per dollar on everything else. It also features an up to $189 annual CLEAR® credit for expedited airport security, and up to $100 in annual LoungeBuddy credits for purchasing airport lounge access.

However, these additional perks come at a cost. The Amex Green has a higher price tag of $150 a year, and it comes with a lower welcome bonus of just 45,000 points after spending $2,000 on purchases in the first six months after opening the account.

All information about the American Express® Green Card has been collected independently by CNN. The American Express® Green Card is not currently available through CNN.

With travel picking up, having a stash of travel points is going to be extremely useful. But whether the Chase Sapphire Preferred makes sense for you personally ultimately depends on what you spend the majority of your money on, and what you hope to get in return.

Given its bonus categories, the Sapphire Preferred is ideal for those who spend a significant amount of money on travel, dining, online groceries and streaming services. Likewise, while you don’t need to be loyal to a particular airline or hotel chain, you do need to actually travel (or at least want to travel more) to maximize the card’s benefits and redemption opportunities.

While you can get decent value from your points with the card’s fixed-value redemption option, the Chase Sapphire Preferred unlocks access to some of the best transfer partners around, so it’s also an excellent opportunity to dip your toes in the world of travel rewards and grow your knowledge on loyalty programs.

If cash back sounds more appealing to you, a card like the Citi Double Cash could make more sense. Or if you’re chasing more luxurious travel perks like airport lounge access, you’ll also want to look elsewhere — the premium Chase Sapphire Reserve version of this card is a great alternative for that, and The Platinum Card® from American Express is also a popular option.

But in the end, regardless of which redemption option you pick, the Chase Sapphire Preferred’s soon-to-end 80,000-point sign-up bonus is more than sufficient to book your first award trip. So consider whether the card fits your needs, and as always, be sure to pay your balance in full each month to avoid high interest rates.

Learn more and apply now for the Chase Sapphire Preferred card.

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