Chase Sapphire Preferred rewards guide

Last reviewed: September 2026. Rewards rates, redemption values, transfer ratios, welcome offers and card benefits may change. Review Chase's current terms before applying or transferring points.

The Chase Sapphire Preferred® Card earns Ultimate Rewards® points across travel, dining and several everyday spending categories. The program also provides multiple ways to redeem points, including Chase Travel, participating loyalty programs, cash back and other available rewards.

Chase updated the Sapphire Preferred rewards and benefits structure in June 2026, so older information about earning 2X on dining or receiving a fixed 25% enhancement on all Chase Travel redemptions no longer reflects the current program.

Current Sapphire Preferred earning rates

• 5X points: eligible Chase Travel purchases;
• 3X points: dining, including eligible takeout and delivery;
• 3X points: gas stations and EV charging;
• 3X points: vacation homes at participating top brands;
• 3X points: eligible online grocery, excluding Target, Walmart and wholesale clubs;
• 3X points: eligible top streaming services;
• 2X points: other eligible travel;
• 1X point: other eligible purchases.

Current new-cardmember offer

As of this review, Chase is advertising 75,000 bonus points for eligible new Sapphire Preferred cardmembers who make $5,000 in qualifying purchases within the first three months after account opening.

Welcome offers can change and eligibility restrictions apply. Consumers should verify the offer displayed directly by Chase before applying.

Redeeming through Chase Travel

Ultimate Rewards points can be redeemed for eligible travel through Chase Travel.

Points redeemed through Chase Travel generally have a standard value defined by the Rewards Program Agreement. Selected hotels and flights may qualify for Points Boost promotions that provide additional value.

For Sapphire Preferred, current Points Boost offers can make eligible points worth up to 1.5 times their standard value on selected top-booked hotels and flights with participating airlines.

Points Boost offers rotate and are subject to availability, so the enhanced value should not be represented as applying to every Chase Travel booking.

Transferring points to travel partners

Sapphire Preferred cardholders can transfer eligible Ultimate Rewards points to participating airline and hotel loyalty programs.

Most current partners use a 1:1 transfer ratio. World of Hyatt is an exception under Chase's updated 2026 terms.

For Sapphire Preferred accounts opened on or after June 15, 2026, transfers to World of Hyatt currently use a 4:3 ratio. Accounts opened before June 15, 2026 retain the previous 1:1 ratio through September 30, 2026, after which the 4:3 ratio applies.

Transfer ratios, loyalty program terms and award pricing can change. Transfers may also be irreversible, so current terms should be checked before transferring points.

Other redemption options

Ultimate Rewards points can also currently be redeemed for options including cash back, gift cards, Pay Yourself Back when eligible, merchandise and other offers available through the program.

Redemption values vary. A point should therefore not be assumed to have the same value under every redemption method.

$100 Chase Travel hotel credit

Sapphire Preferred currently provides up to $100 in statement credits each account anniversary year toward qualifying hotel accommodations purchased through Chase Travel.

The first $100 of hotel purchases that qualify for this credit do not earn rewards points.

Points do not expire while the account remains open

Ultimate Rewards points currently do not expire as long as the account remains open, subject to the conditions described in the Rewards Program Agreement.

Points can be lost in certain circumstances, including some account closures involving program misuse or fraudulent activity.

Annual fee and interest costs

The Sapphire Preferred currently has a $95 annual fee.

Rewards should also be considered alongside potential interest charges. Carrying a balance can result in interest costs that exceed the value of points earned on purchases.

Frequently asked questions

How many points does Sapphire Preferred earn on dining?

The card currently earns 3X points on eligible dining purchases, including qualifying takeout and delivery.

Are points worth 25% more on every Chase Travel booking?

No. Chase now offers Points Boost on selected hotels and flights. Eligible Sapphire Preferred Points Boost offers can currently provide up to 1.5 times the standard redemption value.

Can points be transferred to airline and hotel programs?

Yes. Eligible points can be transferred to participating travel partners. Most currently use a 1:1 ratio, but transfer ratios vary and World of Hyatt is transitioning to 4:3 for Sapphire Preferred.

Final considerations

The current Sapphire Preferred rewards program provides several opportunities to earn accelerated points, but the value received depends on spending patterns and redemption choices.

For the latest earning rates, redemption rules and transfer partners, review the official Chase Sapphire Preferred information.

This content is provided for informational and educational purposes only and does not constitute financial advice. Rewards, fees, transfer ratios and promotional offers may change.