The Chase Sapphire Preferred® card has long been positioned around flexible travel rewards rather than premium-card perks such as airport lounge access. In 2026, Chase expanded the card's earning categories and travel benefits while keeping its annual fee at $95.

The updated version now includes additional points on gas and EV charging, vacation-home bookings, a larger annual hotel credit, and a credit for Global Entry, TSA PreCheck®, or NEXUS. At the same time, some existing features have changed, including the 10% anniversary bonus and the transfer ratio to World of Hyatt®.

For consumers considering the card, the important question is how these rewards and benefits fit their actual spending and travel habits.

Annual Fee and Current Card Structure

The Chase Sapphire Preferred carries a $95 annual fee. Chase announced its 2026 benefit expansion without increasing that fee. The changes became available to existing and new cardmembers beginning June 15, 2026.

That relatively moderate annual fee distinguishes the card from premium travel cards that charge several hundred dollars per year and typically offer more extensive airport and travel credits.

The Preferred card instead focuses on flexible Ultimate Rewards® points, travel protections, transfer partners, and a smaller set of recurring credits.

For someone who travels occasionally but still spends substantially on dining, travel, groceries, streaming, or transportation, the rewards structure can be more relevant than premium lounge benefits.

How Chase Sapphire Preferred Earns Points

The card earns 1 point per dollar on most purchases, with higher earning rates available in specific categories.

Current earning categories include:

  • 5 points per dollar on purchases made through Chase Travel
  • 3 points per dollar on dining worldwide, including eligible takeout and delivery
  • 3 points per dollar on gas and EV charging
  • 3 points per dollar on eligible vacation-home purchases from participating brands
  • 3 points per dollar on online grocery purchases, excluding Target®, Walmart®, and wholesale clubs
  • 3 points per dollar on eligible streaming services
  • 2 points per dollar on other qualifying travel purchases
  • 1 point per dollar on other purchases

Chase Travel purchases earning 5 points per dollar can include flights, hotels, rental cars, cruises, activities, tours, and other eligible travel products.

The distinction between Chase Travel purchases and other travel expenses is important. Booking directly with an airline or hotel, for example, generally falls under the 2-points-per-dollar travel category rather than the 5-point Chase Travel category.

The $100 Chase Travel Hotel Credit

One of the significant 2026 changes is the annual hotel credit.

Cardmembers can receive up to $100 in statement credits each account anniversary year for eligible hotel stays purchased through Chase Travel. The credit increased from $50 to $100 as part of the June 2026 changes.

There is an important trade-off: purchases that qualify for the $100 hotel credit do not earn points.

The credit also applies specifically to eligible hotel purchases through Chase Travel rather than hotel bookings made directly with a property or another booking service.

Someone who already uses Chase Travel for hotel bookings may find the credit relatively straightforward to use. Someone who prefers booking hotels directly should factor that restriction into the card's overall value.

Ultimate Rewards and Travel Transfers

One of the central features of Sapphire Preferred is access to Chase Ultimate Rewards transfer partners.

Eligible cardmembers can transfer points to participating airline and hotel loyalty programs, including programs associated with Air Canada Aeroplan, Air France KLM Flying Blue, British Airways, Iberia, JetBlue, Singapore Airlines, Southwest, United, Virgin Atlantic, IHG One Rewards, Marriott Bonvoy, World of Hyatt, and Wyndham Rewards.

Most eligible transfers are made at a 1:1 ratio, although Chase has changed the World of Hyatt transfer ratio for Sapphire Preferred.

For cardmembers who applied on or after June 15, 2026, Ultimate Rewards points transfer to World of Hyatt at a 4:3 ratio. Existing Sapphire Preferred cardmembers who opened their account before that date retain the previous 1:1 ratio through September 30, 2026, after which the new 4:3 ratio applies.

This change matters for travelers who regularly use Hyatt awards because 1,000 Ultimate Rewards points will result in 750 World of Hyatt points under the new 4:3 ratio.

Chase also notes that point transfers are generally made in increments of 1,000 points and are final once completed.

Points Boost Through Chase Travel

Another redemption feature is Points Boost.

Eligible Points Boost offers can provide increased redemption value for selected hotels and flights booked through Chase Travel. The offers are not universal; eligible options are identified within the Chase Travel booking process and can change over time.

This means cardholders should not assume every Chase Travel booking receives the enhanced redemption rate.

Instead, compare the cash price, points requirement, and available transfer options before booking. A transfer to an airline or hotel loyalty program can produce a different value from redeeming points directly through Chase Travel.

Global Entry, TSA PreCheck, and NEXUS Credit

The card now provides up to $120 toward an eligible Global Entry, TSA PreCheck, or NEXUS application fee once every four years.

To receive the credit, the application fee must be charged to the Sapphire Preferred card. Chase states that the credit is available without a separate spending threshold.

For travelers who would pay one of these application fees anyway, this can reduce the effective cost of maintaining the card. The four-year timing is important, however, because it is not an annual benefit.

Travel Protections

Sapphire Preferred also includes several travel-related protections.

Depending on the circumstances and applicable terms, coverage can include:

  • Trip cancellation and interruption insurance
  • Trip delay reimbursement
  • Baggage delay insurance
  • Lost luggage reimbursement
  • Primary rental-car collision coverage
  • Travel accident insurance
  • Emergency evacuation and transportation coverage
  • Travel and emergency assistance

Chase added emergency evacuation and transportation coverage in 2026. For a covered traveler who becomes sick or injured during a qualifying trip at least 100 miles from home, eligible medical services and transportation can be covered up to $100,000, subject to the benefit terms and limitations.

Rental-car coverage is another notable feature. Chase states that the card provides primary coverage for eligible rental vehicles when the cardmember declines the rental company's collision insurance and pays the entire rental cost with the card, subject to the applicable benefit terms.

These protections are insurance-like benefits with eligibility requirements and exclusions, so they should not be treated as unrestricted travel insurance.

No Foreign Transaction Fees

The Chase Sapphire Preferred does not charge foreign transaction fees on purchases made outside the United States.

That feature can matter for international travelers because a foreign transaction fee can add a percentage-based cost to purchases made abroad.

For someone who frequently travels internationally, using a card without a foreign transaction fee can also simplify the cost comparison between cards.

What Changed in 2026?

The 2026 update is important because several benefits changed at the same time.

New or expanded features include:

  • 3x points on gas and EV charging
  • 3x points on eligible vacation-home purchases
  • $100 annual Chase Travel hotel credit
  • Up to $120 every four years for Global Entry, TSA PreCheck, or NEXUS
  • Emergency evacuation and transportation coverage
  • A limited-time complimentary Apple TV subscription for eligible cardmembers who activate by December 31, 2026

At the same time, Chase discontinued the 10% anniversary bonus for cardmembers who apply on or after June 15, 2026. Existing cardmembers who applied before that date can continue earning the bonus on eligible purchases through October 1, 2026, with qualifying bonuses awarded by January 31, 2027.

The World of Hyatt transfer ratio also changed, as described above.

These changes illustrate why older reviews of the Sapphire Preferred can become outdated. A card's annual fee may remain unchanged while its rewards categories, credits, transfer relationships, and protections evolve.

Who Might Consider the Sapphire Preferred?

The card's structure is particularly relevant to consumers who value flexible travel points but do not necessarily want a premium card with a much higher annual fee.

Potentially relevant spending patterns include frequent dining, travel purchases, online groceries, streaming services, gas, EV charging, and vacation-home rentals.

Travelers may also place significant value on the ability to transfer Ultimate Rewards points to airline and hotel programs rather than limiting redemptions to a single loyalty ecosystem.

On the other hand, consumers who rarely travel may have less opportunity to use the travel-specific credits and protections. Likewise, someone who primarily wants airport lounge access would need to examine a different type of travel card because Sapphire Preferred does not provide the same lounge-access structure associated with certain premium cards.

Understanding the Current Offer Before Applying

Credit card welcome offers can change, and eligibility requirements can vary by applicant. Chase's June 2026 announcement advertised a limited-time offer of 100,000 points after spending $5,000 during the first three months for new cardmembers, but prospective applicants should verify the offer displayed at the time of application rather than relying on an older advertisement.

The same principle applies to ongoing benefits. Chase publishes detailed terms for earning categories, credits, travel protections, and redemption options, and those terms control how the benefits actually work.

Before applying, compare the annual fee with the benefits you expect to use, review the current welcome offer and eligibility language, and examine the rules governing travel credits and point transfers.

The Chase Sapphire Preferred is fundamentally a flexible rewards card built around travel, dining, and Ultimate Rewards points. Its 2026 update expanded several earning categories and travel protections while preserving the $95 annual fee, but it also changed certain existing benefits. Understanding both sides of those changes is essential when calculating the card's potential value for your own spending pattern.

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