Chase Sapphire Preferred Review (2026): The Best $95 Travel Card Just Got Better

The Chase Sapphire Preferred has been the go-to starter travel card for over a decade, and for good reason. It earns flexible, transferable points, comes loaded with travel protections, and carries a manageable $95 annual fee. But in June 2026, Chase gave the card its biggest upgrade in five years — new earning categories, expanded credits, stronger travel insurance, and one of the most compelling welcome offers the card has ever seen.

If you've been on the fence about applying, or you're wondering whether your existing card is still pulling its weight, here's everything you need to know.

The Welcome Offer: Act Before It's Gone

Let's start here because timing matters. New applicants can currently earn 100,000 Ultimate Rewards points after spending $5,000 in the first three months. According to points experts, that bonus is worth over $2,000 in travel value when transferred to Chase's airline and hotel partners.

This is only the third time in the card's 17-year history that Chase has offered a 100,000-point bonus — and there is no announced end date. These elevated offers can disappear without warning. If you're seriously considering this card, sooner is safer than later.

How You Earn Points

The June 2026 refresh expanded the earning structure significantly, adding categories that make the card genuinely useful for everyday spending — not just travel purchases.

• 5x points on travel booked through Chase Travel and on Lyft rides (through September 30, 2027)

• 3x points on dining worldwide, including takeout and eligible delivery

• 3x points on gas and EV charging stations (new — including Costco)

• 3x points on vacation rentals booked directly with platforms like Airbnb, Vrbo, Plum Guide, and Vacasa (new)

• 3x points on select streaming services and online grocery orders (excludes Target, Walmart, and wholesale clubs)

• 2x points on all other general travel purchases booked directly

• 1x points on everything else

The addition of gas, EV charging, and vacation rentals is meaningful for families. These are real spending categories that most households hit regularly, and earning 3x on all of them simultaneously is hard to match at this fee level.

Credits and Perks

This is where the 2026 refresh really shines. Chase stacked several new benefits onto the card that, taken together, more than cover the $95 annual fee on their own.

$100 Chase Travel Hotel Credit Each account anniversary year, you receive a $100 statement credit for hotel stays booked through the Chase Travel Portal. This doubled from the previous $50 credit and is straightforward to use — book a hotel through Chase Travel and the credit applies automatically.

$120 Global Entry / TSA PreCheck / NEXUS Credit Every four years, the card reimburses up to $120 toward your application fee for Global Entry, TSA PreCheck, or NEXUS. Finding this benefit on a card under $100 annually is genuinely rare — it's typically reserved for premium cards with $400+ fees.

Complimentary DashPass Cardholders receive a complimentary DashPass membership (activate by December 31, 2027) plus a $10 monthly promo credit toward non-restaurant delivery orders through DoorDash. If you use DoorDash even occasionally, this alone is worth roughly $120 a year.

Complimentary Apple TV+ A free one-year Apple TV+ subscription is available to new and existing cardholders who activate by December 31, 2026. Worth up to $156 depending on your plan.

When you add it up — $100 hotel credit, $30/year amortized Global Entry credit, $120 DashPass value — the card's benefits comfortably exceed the $95 annual fee before you've booked a single flight.

Travel Protections

The Sapphire Preferred has long been considered best-in-class for travel protections among cards in its fee range, and the 2026 refresh added one notable upgrade.

New: Emergency Evacuation & Transportation The card now covers up to $100,000 in emergency medical evacuation costs when traveling more than 100 miles from home. This is a benefit typically found only on ultra-premium cards like the Chase Sapphire Reserve. Having it on a $95 card is a significant addition.

Core protections retained:

• Trip Cancellation/Interruption Insurance

• Trip Delay Reimbursement

• Baggage Delay Insurance

• Primary Auto Rental Collision Damage Waiver — one of the most valuable everyday travel protections on any card, covering rental car damage without needing to file against your personal auto insurance first

Transfer Partners: Where the Real Value Lives

Chase Ultimate Rewards points are among the most flexible in the business. You can transfer them to 14 airline and hotel partners — all at a 1:1 ratio with one notable exception.

Top airline partners:

• United MileagePlus

• Southwest Rapid Rewards

• Air France/KLM Flying Blue

• British Airways Executive Club

• Aer Lingus, Iberia Plus

• Singapore Airlines KrisFlyer

• Virgin Atlantic Flying Club

Hotel partners:

• World of Hyatt

• Marriott Bonvoy

• IHG One Rewards

• Wyndham Rewards

Transferring to partners like Hyatt, United, or the British Airways/Iberia Avios programs regularly yields 2 cents per point or more in value — double what you'd get using points through the Chase Travel Portal directly.

The One Catch: The Hyatt Transfer Change

No honest review of this card skips this part. Alongside the June 2026 refresh, Chase made one meaningful cut: the transfer ratio to World of Hyatt dropped from 1:1 to 4:3 for new applicants.

In practice, that means you'll need to transfer 60,000 Chase points to receive 45,000 Hyatt points — a 25% reduction in value compared to what existing cardholders receive. If Hyatt redemptions are central to your travel strategy, this is a real consideration.

The good news: all other transfer partners remain at 1:1, and Hyatt award rates are still among the best in hotel loyalty programs even at the adjusted ratio. It's a downgrade, but it doesn't eliminate the value — it just requires a bit more planning.

Note: Existing Sapphire Preferred cardholders retain the original 1:1 transfer ratio to Hyatt until October 2026 so plan point transfers accordingly.

Additionally, the legacy 10% anniversary point bonus — which rewarded cardholders with bonus points based on their annual spend — has been discontinued for new applicants.

Is It Worth It?

For most travelers, yes — and right now in particular, the value case is unusually strong.

The $95 annual fee is more than offset by the $100 hotel credit alone, with DashPass, Global Entry, and Apple TV+ providing additional value on top. The expanded earning categories cover most of what families spend money on. The travel protections are best-in-class for the price. And the 100,000-point welcome offer is one of the strongest the card has ever offered.

The Hyatt transfer change is worth knowing about, but it doesn't change the fundamental value of the card for most cardholders. If you primarily use points for flights — United, Southwest, Flying Blue, Virgin Atlantic — the refresh is a win.

Bottom line: If you've been considering the Chase Sapphire Preferred, mid-2026 is a compelling time to apply. The card is stronger than it's ever been, and the welcome offer won't last forever.

Card benefits, earning rates, transfer partner ratios, and welcome offers are subject to change at any time without notice. Always verify current terms at chase.com before applying. Point valuations referenced are estimates and actual value may vary based on how points are redeemed.

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