Quick answer
Yes — the Chase Sapphire Preferred remains worth the $95 annual fee for many travelers and points beginners. Between the current welcome bonus, an increased annual hotel credit, higher ongoing earning rates, transferable points and new statement credits, the card can deliver more value than its cost year after year.
Welcome bonus
Right now new applicants can earn 100,000 Chase Ultimate Rewards points after spending $5,000 in the first three months from account opening. That limited-time offer ends July 30 at 3 p.m. ET. Using Chase’s transfer partners, that bonus is conservatively worth well over the annual fee on its own — Chase valuations and common redemption examples place it around $2,000+ depending on how you redeem.
Annual hotel credit
The card now includes a $100 statement credit each card anniversary for hotel bookings made through the Chase Travel portal. That doubles the previous $50 credit and effectively covers the $95 fee if you use it, leaving you a small net gain before counting earned points and other perks.
Ongoing earning rates (updated)
The Preferred’s refreshed earning structure pushes more points into everyday spending and travel:
– 5 points per dollar on travel booked through Chase Travel (flights, hotels, rental cars, vacation homes, cruises, activities and tours)
– 5 points per dollar on Lyft rides through Sept. 30, 2027
– 5 points per dollar on eligible Peloton equipment/accessory purchases over $150 through Dec. 31, 2027
– 3 points per dollar at gas stations and EV charging stations (new)
– 3 points per dollar on vacation home bookings (Airbnb, Vrbo and select partners)
– 3 points per dollar on dining worldwide (including eligible takeout and delivery)
– 3 points per dollar on select streaming services
– 3 points per dollar on online grocery purchases (excludes Target, Walmart and wholesale clubs)
– 2 points per dollar on other travel worldwide
– 1 point per dollar on all other purchases
These elevated rates let you keep earning meaningful points after the welcome bonus year.
Transfer partners and redemptions
One of the Sapphire Preferred’s biggest strengths is that Ultimate Rewards transfer 1:1 to many airline and hotel partners. Popular partners include programs such as Air Canada Aeroplan, Air France-KLM Flying Blue, British Airways Avios and World of Hyatt. Sweet-spot redemptions and partner award charts can convert points into outsized value compared with cash prices. If you prefer booking through the Chase Travel portal, points are worth up to 1.75 cents each on Preferred (varies by redemption), so points still retain strong cash-booking value without transfers.
Notable change: World of Hyatt transfer parity and timing adjustments have been announced for some cardholder cohorts; check current terms when transferring.
New statement credits added in 2026
The recent refresh also adds two practical statement credits:
– Up to $120 every four years for Global Entry, TSA PreCheck or Nexus application fees when charged to the card — useful if you or a family member uses these services.
– A one-time complimentary Apple TV subscription when activated by the promotional deadline (check card terms for timing).
Both credits increase the card’s ongoing utility and can help offset the fee across years.
Insurance and travel protections
The Sapphire Preferred carries several travel protections and purchase safeguards that can have large, tangible value in the right situation:
– Baggage delay reimbursement (example: up to $100 per day for five days for essentials if your bags are delayed) — a single claim of this nature can exceed the annual fee.
– Emergency evacuation and transportation coverage (up to $100,000 in covered scenarios) for trips 100+ miles from home.
– Trip delay/interruption and purchase protection features, which can save you money and hassle when something goes wrong.
When the card is worth it
The card is an excellent fit if you:
– Value transferable points and plan to use airline/hotel partners for outsized redemptions.
– Will use the $100 hotel credit each year or otherwise redeem enough points to exceed the $95 fee.
– Want mid-tier perks and solid travel protections without the much higher fee of premium cards.
When it might not be worth it
If you don’t travel, won’t use the hotel credit or the transfer partners, or already have better coverage and earning with cards you own, the $95 fee may not be justified.
Bottom line
Between the large welcome bonus, the doubled $100 hotel credit, stronger category earning and new statement credits (Global Entry/TSA PreCheck reimbursement and a one-time Apple TV offer), the Chase Sapphire Preferred can easily pay for itself. For most travelers and points-minded beginners, the card delivers net value year after year — but evaluate it against your existing cards and travel habits before applying.