The Chase Sapphire Preferred, long a go-to first rewards card, has been refreshed again while keeping its low $95 annual fee—and for a limited time it’s offering 100,000 bonus points after $5,000 in purchases in the first three months.
If you’ve ever watched a friend freeze at the first page of the points-and-miles world, it usually comes with the same question: where do I even start?
For years, the answer has been the same—Chase Sapphire Preferred® Card (see rates and fees). The card has been around for over 16 years. and while time usually makes deals feel older. this one just got a refresh that adds more value without changing the price of entry. The annual fee remains a low $95.
Right now, the timing is especially sharp. For a limited time, the Sapphire Preferred is offering 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
That headline number matters because the hardest part of rewards can be simply building a balance you can actually use—fast enough to make the whole system feel worth learning.
The welcome bonus is designed to get you there. To earn the 100,000 points, you’d need to charge an average of $1,667 to the card each month for three months. It may sound like a lot until you remember how many everyday bills can count. Groceries, gas, cellphone bills, insurance premiums, medical expenses, and some utility payments can all help you reach the spending requirement.
Once you do, using those points is where the card aims to keep things simple. Chase Ultimate Rewards points can be used in two main ways for travel. The easiest path is booking directly through Chase Travel℠. With that route, points are worth 1 cent each toward travel booked this way at a minimum. Select hotels and flights and experiences qualify for Chase’s Points Boost feature. which can increase the value of points to as much as 1.5 cents each.
That means the current 100,000-point welcome bonus could be worth up to $1,500 in travel booked through Chase Travel.
If you want to stretch further. the Sapphire Preferred also lets you transfer points to Chase’s 14 airline or hotel partners. The list includes Aer Lingus AerClub. Air Canada Aeroplan. Air France-KLM Flying Blue. British Airways Club. Emirates Skywards. IHG One Rewards. Iberia Club. JetBlue TrueBlue. Marriott Bonvoy. Singapore KrisFlyer. Southwest Rapid Rewards. United MileagePlus. Virgin Atlantic Flying Club. and World of Hyatt.
Transfers are generally at a 1:1 ratio for most partners—except Hyatt. which transfers at 4:3—but occasional transfer bonuses can push value higher. The flexibility is the point: 100. 000 Chase Ultimate Rewards points could become the equivalent of 100. 000 United miles. Aeroplan points. Marriott points. and others depending on how you redeem.
That flexibility comes with a benefit that’s easy to overlook until you’re actually shopping for your first card: the annual fee is low enough to take the leap without feeling like you’ve locked yourself into a premium payment. Premium travel cards can cost $795 or $895 per year, but the Sapphire Preferred costs $95.
Even within that smaller price tag, the perks can move quickly. There’s a $100 annual Chase Travel hotel credit that can more than offset the $95 annual fee if you use it. Cardholders can also receive an application fee credit worth up to $120 for Global Entry. TSA PreCheck or Nexus once every four years.
Additional Sapphire Preferred benefits include complimentary Apple TV and Apple Music subscriptions for one year. with enrollment required through Chase Benefits & Rewards by Dec. 31, 2026. There’s also a complimentary DoorDash DashPass membership, activation required through Dec. 31, 2027, plus up to $10 in monthly DoorDash credits for eligible nonrestaurant orders through Dec. 31, 2027.
Travel protections are part of the package too, including trip cancellation and interruption insurance, trip delay reimbursement, and emergency evacuation and transportation coverage.
It’s not just about what you earn during the welcome period. The card also carries strong earning rates across everyday categories. Points stack at 5 points per dollar spent on travel booked through Chase Travel. 5 points per dollar spent on Lyft rides through Sept. 30, 2027, and 5 points per dollar spent on eligible Peloton equipment and accessory purchases over $150 through Dec. 31, 2027.
Dining earns 3 points per dollar. gas purchases and electric vehicle charging earn 3 points per dollar. and select streaming services earn 3 points per dollar. Online grocery store purchases earn 3 points per dollar, excluding Target, Walmart and wholesale clubs. Vacation homes at brands such as Airbnb. Vrbo. Plum Guide. HomeAway. Homestay.com and Vacasa earn 3 points per dollar as well.
Other travel earns 2 points per dollar, while everything else earns 1 point per dollar.
Because these point earnings are broad, they’re built to match how people actually spend. The travel category includes plane tickets, hotels, subway passes, and even some parking garages. Dining spans high-end restaurants, fast food, and DoorDash delivery services.
Valuation is also part of why this card stays on so many shortlists. The points are worth 2.05 cents each, based on TPG’s June 2026 valuations, meaning a $1 spent can translate to anywhere from 2.05 to 10.25 cents in value depending on the category.
Then there’s the practical reality that keeps first-timers from getting stuck: approval and availability. Chase makes it easier to get Chase-issued credit cards before you’re deep into the rewards-card world.
Chase has an unwritten but well-documented rule that it generally won’t issue a new credit card account once you have opened five or more card accounts across all banks in the last 24 months—informally known as the Chase 5/24 rule.
Once you hit those five slots, travelers can find themselves forced to wait before they can qualify for new Chase accounts, which is why it often makes sense to start by getting a Chase card like the Sapphire Preferred before the window closes.
In the end. the pitch is straightforward: the Sapphire Preferred is easy to use. flexible. and rewarding. with multiple ways to redeem points. useful travel perks. and a $95 annual fee that hasn’t budged in over 16 years. And with the current limited-time offer, it’s also delivering its highest-ever bonus—100,000 points—after meeting the spending requirement.
Limited-time offer: Earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening with the Chase Sapphire Preferred Card.
Chase Sapphire Preferred credit card rewards travel points 100 000 bonus points Chase Travel Global Entry TSA PreCheck DoorDash DashPass Points Boost transfer partners
So you gotta spend $5k in 3 months… does that mean like $5k a month?
I read $95 annual fee and thought it was gonna be scammy but 100,000 points sounds wild. Still, I’m confused—are the points guaranteed or only if you do something else?
Honestly Chase always does the same thing, they just rebrand it. I feel like the 100k bonus is fake math because they count points but you can’t really cash them out unless you book travel through them or whatever.
Not gonna lie, I got this card like 2 years ago and my annual fee wasn’t $95 then… maybe it changed? Also the article says it’s been around 16 years so it’s basically old news, but the bonus promo is new I guess. If I’m already spending anyway, sure, I’ll take the points, but I hate the $5,000 target.