Chase Sapphire Preferred 2026 Review: Is It Still Worth It?
The Short Version
I've had the Chase Sapphire Preferred in my wallet for three years. Here's the honest answer: for most people who travel at least once or twice a year, this card is still one of the best deals out there. Not because of some inflated sign-up bonus. Because the math just works.
Let me walk through the actual numbers, no fluff.
⚠️ Update (May 2026): Chase has confirmed the 10% anniversary points bonus will end on October 1, 2026. If you're on the fence about this card, factor that in. The effective annual fee just got a little less friendly.
What You Actually Get
| What | Details |
|---|---|
| Sign-up bonus | 60,000 points after $4,000 spend in 3 months |
| Annual fee | $95 |
| Points on dining | 3x (includes takeout and delivery) |
| Points on travel | 2x on flights, hotels, car rentals, transit |
| Hotel credit | $50 annually through Chase Travel |
| Anniversary bonus | 10% of previous year's total spend in bonus points (ending Oct 1, 2026) |
| Transfer partners | 11 airlines + 3 hotels (Hyatt, United, Southwest, etc.) |
The $50 hotel credit brings the effective annual fee down to $45. If you eat out even once a week, the 3x on dining adds up fast.
What 60,000 Points Are Actually Worth
Chase markets the bonus as "$750 in travel." That's if you redeem through Chase's portal at 1.25¢ per point. It's the floor, not the ceiling.
I transferred my points to Hyatt last year and booked a room that would have cost $340 a night for 15,000 points. That's over 2.2¢ per point. At that valuation, the 60,000-point bonus is worth more like $1,300 in hotel stays. Not bad for a $95 card.
United and Southwest transfers are solid too. You don't need to be a points expert. Pick a Hyatt you want to stay at, check their award chart, transfer and book. It takes five minutes.
Who This Card Is For
I won't pretend this card makes sense for everyone. Here's my honest take.
Get it if:
- You travel at least once a year and want to pay for flights/hotels with points
- You eat out regularly (the 3x is the real daily value here)
- Your credit score is 680+ and you don't have another Sapphire card
- You're willing to spend 10 minutes learning how to transfer points to Hyatt or United
Skip it if:
- You don't travel at all. Get a flat 2% cash back card instead
- You want the simplest possible setup. The point transfers add a small learning curve
- You already have the Chase Sapphire Reserve (Chase won't let you hold both)
CSP vs. Capital One Venture X
People ask about this one a lot so let me address it directly.
| Feature | CSP vs Venture X |
|---|---|
| Annual fee | $95 vs $395 |
| Travel credit | $50 hotel vs $300 portal |
| Best transfer | Hyatt (2+ cpp) vs Turkish (niche) |
| Lounge access | None vs Priority Pass |
| Best for | Hotel stays vs Lounge lovers |
The Venture X has a higher fee but the $300 credit and anniversary miles can offset it. I lean CSP because Hyatt transfers are dead simple and the annual fee is easier to stomach. If you want lounge access, get the Venture X. Different tools for different people.
Things That Annoy Me About This Card
No card is perfect. A few real complaints:
- The $50 hotel credit only works through Chase Travel. You can't use it on direct bookings. Sometimes Chase's portal has worse cancellation policies than booking direct.
- No Priority Pass or lounge access. At $95 that's expected, but still worth noting.
- Grocery stores only earn 1x. Most of us spend more at supermarkets than on travel. A grocery multiplier would make this card hard to beat.
Bottom Line
The Sapphire Preferred isn't exciting. It doesn't come with airport lounges or a metal card that impresses people at dinner. What it does: it reliably turns your regular spending into hotel nights and flights, and the Hyatt transfer alone makes the annual fee worth it.
For $95 a year, you get a sign-up bonus that covers several nights at a nice hotel, solid travel protections, and a points system that actually works. I've kept mine for three years and don't plan on canceling.
Apply for the Chase Sapphire Preferred using our referral link below.
→ Apply for Chase Sapphire Preferred
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