7 Things to Know Before Getting the Chase Sapphire Preferred

The Chase Sapphire Preferred® Card remains a standout choice for travel enthusiasts at every level. The card offers an impressive array of bonus rewards categories, a valuable welcome bonus and a modest annual fee — especially considering the value you can get.

But like any credit card, the Chase Sapphire Preferred® Card isn't the best fit for everyone. Here are seven things to consider as you weigh whether it's the best fit for you, your spending habits and your travel plans.

1. Your credit score

The Chase Sapphire Preferred® Card targets borrowers with strong credit profiles — you'll typically need good to excellent credit for approval chances.

We recommend that you consider waiting to apply until your FICO score reaches at least 690. If you're still building your credit history, focusing on that first makes sense. Check out these top beginner-friendly credit cards as potential stepping stones.

2. Your Chase 5/24 count

Chase's unofficial 5/24 rule will likely block your application if you've been actively opening credit cards recently. This unwritten policy typically results in denials for applicants who have opened five or more credit cards (from any issuer) within the past two years.

The policy does have certain exceptions. For example, business credit cards usually fall outside this restriction since they're linked to commercial entities rather than personal credit profiles. But you'll still want to review your credit reports before applying to confirm where you stand.

» Learn more: The best Chase credit cards right now

3. The annual fee

While Chase Sapphire Preferred® Card's annual fee of $95 is modest compared to premium travel credit cards that can cost $500 or more, it's still an expense worth evaluating. Factor this cost into your overall credit card budget, particularly if you're already carrying annual fees on other cards in your wallet.

With any annual-fee card, it's important to evaluate the card's features to determine how easy it will be to recoup that yearly expense. With the Chase Sapphire Preferred® Card, consider the following:

• Earn up to $100 in statement credits each account anniversary year for hotel stays booked through Chase. 

• Get a complimentary DashPass membership, valued at $120 per year, through Dec. 31, 2027, or a minimum of one year depending on the activation date. You must activate by Dec. 31, 2029, to be eligible.

• Get a one-year subscription to Apple TV when activated by Dec. 31, 2026.

• DashPass members get a $10 promo each month ($120 annually) to save on groceries, retail orders and more through Dec. 31, 2027.

The hotel credit can make up for the card's annual fee of $95, but you'll also need to consider the total cost of the stay, especially if you weren't already planning to spend that money.

The DoorDash benefits can also offset the annual fee, but again, you have to spend money to earn the credits. If you're an on-demand diner, that might not be an issue. Otherwise, it can be easy to spend more than you save in credits.

» Learn more: Is the Chase Sapphire Preferred® Card worth its annual fee?

4. Your eligibility for the welcome bonus

The Chase Sapphire Preferred® Card's welcome bonus offers outsized value for new cardholders: Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.

But being eligible for the card doesn't mean you qualify to earn the bonus. More specifically, you may not qualify for the bonus if you currently hold any personal Sapphire card (including the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve®), you've previously owned this specific card, or you've already received a welcome bonus for it in the past.

Chase also evaluates your broader credit card activity, including how many accounts you've opened and closed recently, along with other undisclosed factors.

You'll also want to gauge whether you can meet the minimum spending requirements with your regular everyday spending. Over three months, the $5,000 threshold translates to $1,667 per month.

» Learn more: Chase Sapphire showdown: Reserve vs. Preferred

5. Your spending habits

The Chase Sapphire Preferred® Card’s welcome bonus is just the start of what makes it a true rewards powerhouse. You’ll also find multiple ways to build a substantial point balance through your everyday spending. The card offers the following rewards rates:

• 5x total points on travel booked through Chase.

• 3x points on dining, including eligible delivery services, takeout and dining out.

• 3x points on vacation home rentals, including Airbnb and VRBO.

• 3x points on gasoline and electric vehicle charging.

• 3x points on some streaming services.

• 3x points on online grocery purchases (except Target, Walmart and wholesale clubs).

• 2x points on travel booked outside of Chase.

• 1x points on other purchases.

However, earning potential only matters if it matches your actual spending habits. A card that offers great dining rewards won't benefit someone who rarely eats out, just as travel bonuses mean little to infrequent travelers.

To determine whether the Chase Sapphire Preferred® Card is a good fit, review your expenses over the past few months and calculate how many points you'd realistically earn each year based on your typical spending patterns.

» Learn more: Benefits of the Chase Sapphire Preferred® Card

6. Redemption options

The Chase Sapphire Preferred® Card offers flexible redemption options for your accumulated points, from partner transfers to Chase's own booking platform, plus cash back and gift card choices.

Your best value typically comes from transferring points to travel partners, especially when booking business or first-class flights.

Alternatively, you can book directly through Chase's travel portal, typically at a rate of 1 cent per point. However, the portal also features select Points Boost deals that can increase your redemption value to as much as 1.75 cents per point on eligible flights and hotel stays.

» Learn more: How to redeem Chase Ultimate Rewards® points

7. How often you travel

Before committing to the Chase Sapphire Preferred® Card, it's important to evaluate your travel style and priorities. For example, travelers seeking premium perks like lounge access or reimbursement for Trusted Traveler Programs may consider exploring higher-tier options such as the Chase Sapphire Reserve®.

The premium card carries a steeper annual fee of $795, but it delivers more earning potential and several travel and lifestyle perks the Chase Sapphire Preferred® Card doesn't have:

• Reimbursement for Global Entry, Nexus or TSA PreCheck applications.

• Access to Priority Pass lounges worldwide plus Chase Sapphire Lounges by The Club.

• Annual $300 travel statement credit.

• IHG One Rewards Platinum Elite status.

• Up to $500 annually in credits for stays with The Edit.

• Up to $300 annually in dining credits.

• An annual subscription to Apple TV and Apple Music subscriptions.

• Up to $420 annually in DoorDash promos.

• Up to $300 annually in StubHub credits.

If you're a frequent traveler and can make the most of the other valuable perks of the Chase Sapphire Reserve®, the card's eye-watering annual fee of $795 may be easier to stomach. But if you're a travel newbie or you're overwhelmed by the idea of keeping up with so many different benefits, the Chase Sapphire Preferred® Card might be the better fit.

» Learn more: The best travel credit cards

If you're considering the Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card strikes an appealing balance for travelers who want solid rewards earning without the premium price tag.

Before applying, though, take an honest look at your travel frequency, spending patterns and ability to maximize the card's specific benefits. Also, make sure you have a clear plan for meeting the spending requirement and leveraging the card's ongoing rewards structure and perks to justify the card's annual fee of $95 year after year.