It’s Official: The Chase Sapphire Preferred® Card 100K Bonus Ends July 30th 3PM EST

The Chase Sapphire Preferred® Card benefits package just got it’s biggest overhaul in years, and almost all of it is good news. On tope of that, it currently has a huge 100,000 points welcome offer, which Chase just confirmed is ending on July 30th, 2026 at 3 PM EST.

At $95 a year, this card delivers transfer partner access, primary rental car coverage, and a welcome bonus that alone covers the annual fee for years. But “good value on paper” and “worth it for you” are different questions, and the answer depends on how you actually spend.

I’ve carried the Sapphire Preferred since my first serious travel rewards year, and it remains the card I recommend most often to anyone asking where to start. Below is the honest breakdown: what it earns you, what it actually costs, and the specific scenarios where it’s worth keeping versus where you’d do better with something else.

Chase Sapphire Preferred Changes in 2026

Here is the full rundown of what changed.

New benefits:

• 3x points on gas and EV charging
• 3x points on vacation homes at top brands including Airbnb, Vrbo, and more
• $120 Global Entry, TSA PreCheck, or NEXUS credit every four years
• Complimentary Apple TV subscription for one year when activated by December 31, 2026. Terms apply.

Upgraded benefits:

• $100 Chase Travel hotel credit every account anniversary, doubled from $50
• Emergency Evacuation and Transportation coverage added, making this the most comprehensive suite of built-in travel protections in its class

Going away:

• The 10% anniversary bonus is discontinued, effective immediately for anyone who applies on or after June 15, 2026. If you applied before that date, eligible purchases made through October 1, 2026 still earn the bonus, which will be awarded by January 31, 2027.
• The Hyatt transfer ratio, which has been 1:1, will now be 4:3 on some cards, including the Sapphire Preferred.

The short version: the $100 hotel credit alone now outpaces the $95 annual fee, and the new 3x categories cover spending the Sapphire lineup never bonused before. Losing the anniversary bonus stings if you had it, but for anyone applying today this is simply a better card than it was last month.

Chase Sapphire Preferred Benefits at a Glance

Chase Sapphire Preferred Welcome Bonus & Earning Structure

The current welcome offer is 100,000 bonus points after you spend $5,000 on purchases in the first three months from account opening, worth at least $1,000 in on Chase Travel. Transfer to the right partner and that same 100,000 points can book round-trip business class to Europe or a week at a Hyatt property.

Ongoing earning categories:

• 5x points on all Chase Travel purchases, including flights, hotels, rental cars, cruises, activities, and tours
• 3x points on gas and EV charging
• 3x points on vacation homes at top brands including Airbnb, Vrbo, and more
• 3x points on dining worldwide, including takeout and eligible delivery services
• 3x points on online grocery purchases (excluding Walmart, Target, and wholesale clubs)
• 3x points on top streaming services
• 2x points on all travel worldwide
• 5x points on Lyft rides through September 30, 2027
• 5x total points on eligible Peloton equipment and accessory purchases over $150 through December 31, 2027
• 1x points on all other purchases

The earning structure is now even stronger for families and everyday travelers. Vacation home bookings on Airbnb and Vrbo jumped from 2x to 3x, gas and EV charging earn 3x for the first time, and everything else travel-related still earns 2x worldwide. The Reserve only earns 1x on all of these categories, which means the Preferred quietly out-earns its $795 sibling everywhere except flights and hotels.

Chase Sapphire Preferred Travel Benefits & Coverage

This is where the Chase Sapphire Preferred® benefits outpunch its weight class. The travel protections are genuinely useful, and they’re built in the moment you pay for travel with the card (terms apply to all insurance benefits).

Trip cancellation and interruption insurance reimburses up to $10,000 per person and $20,000 per trip for prepaid, non-refundable expenses if your trip is canceled or cut short by a covered reason like illness or severe weather.

Primary rental car coverage is the standout. Most credit card rental coverage is secondary, meaning it kicks in after your personal auto insurance. Chase Sapphire Preferred offers primary coverage for theft and collision damage up to $60,000, so you can skip the rental counter’s collision damage waiver entirely. This alone has saved me hundreds on international rentals where the daily CDW cost more than the car.

Chase also upgraded the protection suite with Emergency Evacuation and Transportation coverage, making this the most comprehensive set of built-in travel protections in its class. That is coverage you hope to never use, but it is the kind of benefit that normally requires a standalone travel insurance policy.

Other built in protections:

• Emergency Evacuation and Transportation coverage
• Baggage delay insurance (up to $100/day for 5 days)
• Lost luggage reimbursement (up to $3,000 per passenger)
• Trip delay reimbursement (up to $500 per ticket after a 12-hour delay or overnight stay)
• No foreign transaction fees

Global Entry, TSA Pre-Check, and NEXUS

The card also now includes a $120 Global Entry, TSA PreCheck, or NEXUS credit every four years. That was previously premium card territory, and at $95 a year the Preferred is now one of the cheapest ways to keep your trusted traveler status funded.

The $100 Annual Hotel Credit

Each account anniversary year, you get up to $100 in statement credits for hotel stays booked through Chase Travel, doubled from the previous $50. Do the math on that for a second. The credit alone now exceeds the $95 annual fee. Use it once a year on a stay you were already planning and the card effectively pays you to carry it before counting a single point.

The practical approach stays the same: book a hotel you would have booked anyway. Chase Travel prices are generally competitive for mainstream chain hotels, and you earn 5x points on the remaining balance after the credit applies.

Purchase Protection and Extended Warranty

Two benefits that most people forget about until they need them:

Purchase protection covers new purchases for 120 days against damage or theft, up to $500 per claim and $50,000 per account.

Extended warranty protection adds up to one additional year on eligible US manufacturer warranties of three years or less. Useful for electronics, appliances, and anything else where the factory warranty always feels too short.

Current Promotional Benefits (Worth $200+ Annually)

Chase markets these as “$200+ in additional partnership value,” and they’re the perks most people forget to actually use. Note the expiration dates — these are current promotional benefits, not permanent card features.

Complimentary Apple TV subscription for one year when activated by December 31, 2026. Terms apply. If you already pay for Apple TV, that is roughly $120 in value for clicking a button.

Complimentary DashPass for at least 12 months when activated by December 31, 2027. DashPass normally runs $9.99/month, so this is a $120 value on its own. You also get a $10 monthly promo on eligible non-restaurant DoorDash orders through December 31, 2027 — groceries, convenience items, retail. That’s another $120/year if you use it consistently.

5x on Lyft rides through September 30, 2027.

5x on Peloton equipment and accessory purchases over $150 through December 31, 2027, capped at 25,000 bonus points per year.

Points Boost also gives cardmembers more value when redeeming Ultimate Rewards points on thousands of top-booked hotels and on flights with select airlines through Chase Travel.

Chase Sapphire Preferred Transfer Partners

This is the real reason serious points people carry Chase Sapphire cards. Your Chase Ultimate Rewards points transfer to 14 airline and hotel partners, with no blackout dates and no travel restrictions.

To learn more about how transfer partners work, read this article.

Airline transfer partners:

• Aer Lingus AerClub
• Air Canada Aeroplan
• Air France KLM Flying Blue
• British Airways Club
• Iberia Plus
• JetBlue TrueBlue
• Singapore Airlines KrisFlyer
• Southwest Rapid Rewards
• United MileagePlus
• Virgin Atlantic Flying Club

Hotel transfer partners:

• IHG One Rewards
• Marriott Bonvoy
• World of Hyatt (4:3; for cardmembers who applied before June 15 this change will take effect on October 1, 2026)
• Wyndham Rewards

World of Hyatt is the secret weapon. Hyatt points transfer only from Chase and Bilt, which makes Chase Sapphire Preferred one of the only realistic paths to stockpiling them for redemptions at properties like Park Hyatt Tokyo or Alila Ventana Big Sur. Air Canada Aeroplan, Virgin Atlantic, and Flying Blue round out the strongest airline options depending on where you want to go.

What Chase Ultimate Rewards Points Are Actually Worth

Point valuation is squishy and depends on how you redeem. Here’s the honest range:

1 cent per point — cash back or statement credit. Worst redemption, avoid it.

1 to 1.75 cents per point — Chase Travel portal with Points Boost on eligible bookings. Fine for straightforward redemptions when you don’t want to mess with transfers.

2 to 5+ cents per point — transfer partners, when you target sweet spots. A business class ticket to Europe booked through Air Canada Aeroplan for 60,000 miles (cash price around $3,000) pulls 5 cents per point. A Park Hyatt Tokyo night for 45,000 points (cash rate around $1,200) pulls north of 3 cents.

Points also never expire as long as your account is open, which takes the pressure off timing your redemptions.

Is the $95 Annual Fee Worth It?

Here’s the breakeven math on a conservative year:

Even without the welcome bonus, a modest user who books one or two trips a year, orders DoorDash occasionally, and uses the hotel credit can clear the annual fee with room to spare. The card doesn’t require you to become a points hobbyist to earn its keep — it just requires that you actually use it.

Where it stops being worth it: if you rarely travel, don’t eat out or order delivery, and prefer the simplicity of flat-rate cash back. In that case, a no-annual-fee card is a better fit.

Chase Sapphire Preferred vs Sapphire Reserve

The most common question people ask when evaluating Chase Sapphire Preferred® benefits is whether to go up to the Reserve instead. Short answer: only if you travel enough to use the premium perks.

Note: As of 2026, Chase now allows you to hold both Sapphire cards, so you can stack them to maximize earnings and benefits.

The Reserve’s $795 annual fee only makes sense if you’ll consistently use the lounge access, the $300 travel credit, and the higher earning rates on travel and dining. For most people, the Chase Sapphire Preferred at $95 delivers roughly 70% of the value at 12% of the cost.

Who Should Get the Chase Sapphire Preferred

Good fit:

• First-time points and miles cardholders
• Anyone who takes at least one or two trips per year
• People who want transfer partner access without a $795 annual fee
• Renters (primary rental car coverage is gold)
• DoorDash users
• Anyone planning to eventually add Chase Freedom cards to their wallet (the Sapphire unlocks transfer partner access for Freedom point balances)

Probably not a fit:

• People who never travel
• Anyone who only wants cash back
• People who already hold the Chase Sapphire Reserve and don’t want to manage multiple cards

How to Maximize Your Chase Sapphire Preferred Benefits

A few strategic moves to squeeze maximum value:

1. Pool points from no-fee Chase cards. If you hold the Chase Freedom Unlimited or Chase Freedom Flex, their points can transfer into your Sapphire Preferred account and become transferable to partners.
2. Wait for transfer bonuses. Chase runs periodic promotions (recent examples include 20% to Aeroplan and 70% to IHG). Transferring during a bonus is free extra value.
3. Use the $100 hotel credit intentionally. Book a stay you were already planning. Don’t let it expire.

Learn more about the Chase Sapphire Preferred® here.

Chase Sapphire Preferred FAQ

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