Chase Sapphire Preferred
Last updated: June 19, 2026. This guide reflects the June 15, 2026 product refresh. Verify current terms with Chase before applying, booking, or relying on coverage.
Core multipliers
- 5xTravel purchased through Chase Travel, excluding hotel purchases that qualify for the annual $100 hotel credit.
- 3xDining at restaurants worldwide.
- 3xGas stations and EV charging.
- 3xVacation homes at top brands including Airbnb and Vrbo.
- 3xSelect streaming services, including Apple Music, Apple TV, Disney+, ESPN+, Hulu, Netflix, Spotify, and others. Chase may update the eligible list.
- 3xOnline grocery purchases, with issuer exclusions. Warehouse clubs, superstores, and meal-kit services may not qualify.
- 2xAll other travel purchases not covered by the 5x or 3x rates.
- 1xAll other purchases.
Card snapshot
What the card is built around
The Chase Sapphire Preferred is the entry point to Chase's Ultimate Rewards ecosystem. Its value comes from a broad set of 3x earning categories that now cover most everyday spending — dining, gas, streaming, online grocery, and vacation rentals — combined with the ability to transfer points to airlines and hotels or redeem them through Chase Travel. At $95 per year it is one of the few cards that pairs meaningful travel protections with genuine transfer-partner flexibility at a mid-tier fee.
The June 2026 refresh significantly expanded the 3x tier, adding gas stations, EV charging, vacation homes (Airbnb, Vrbo, and similar top-brand rentals), select streaming services, and online grocery purchases. The hotel credit also doubled from $50 to $100. These additions change the card's profile from a dining-and-travel tool to a broader everyday earner.
Travel and portal earning
Chase Travel bookings
Earn 5 Ultimate Rewards points per dollar on flights, hotels, car rentals, cruises, and activities booked through Chase Travel. Hotel stays that earn the $100 annual credit earn at a different rate per Chase's current terms.
Vacation homes
Earn 3 points per dollar at top vacation rental brands including Airbnb, Vrbo, and similar services. This category was added in the June 2026 refresh and captures a spending type previously outside the card's earning structure.
Other travel
Earn 2 points per dollar on travel purchases not covered by the 5x or 3x rates — such as tolls, parking, taxis, trains, and travel booked directly with airlines or hotels that don't qualify for the higher rates.
Gas and EV charging
Earn 3 points per dollar at gas stations and EV charging stations. This was added in June 2026 and covers a high-frequency category that most travel cards historically excluded from bonus earning.
Multiplier details that matter
Chase Travel vs. booking direct
The 5x rate requires booking through Chase Travel. Booking directly with an airline or hotel earns 2x (as other travel) or potentially 3x if it qualifies under the direct-hotel rate. Confirm the rate before each booking — portal pricing can differ from direct rates, and some loyalty program benefits require direct bookings.
Streaming and online grocery exclusions
Chase lists specific streaming services for the 3x rate and may update the eligible list. For online grocery, warehouse clubs and superstores (e.g., Walmart.com, Target.com, Costco) may not qualify. Meal-kit services and food delivery apps may also fall outside the eligible grocery definition.
Vacation homes vs. hotels
Vacation home rentals (Airbnb, Vrbo) now earn 3x. Traditional hotel stays booked directly earn 2x as other travel or 5x through Chase Travel. The $100 annual hotel credit applies only to Chase Travel hotel bookings, which affects the effective rate on those bookings per Chase's current terms.
Statement credits
Transfer partners
The Sapphire Preferred transfers Ultimate Rewards points to 14 airline and hotel partners. Most transfer at 1:1. The primary exception as of mid-2026 is World of Hyatt, which transfers at 4:3 for Sapphire Preferred cardholders — meaning 4,000 Chase points become 3,000 Hyatt points. This change took effect for new cardholders on June 15, 2026, and applies to existing cardholders beginning October 1, 2026. Sapphire Reserve cardholders retain the 1:1 Hyatt ratio.
Using transfer partners effectively
Airline sweet spots
Aeroplan, Flying Blue, Singapore KrisFlyer, and Virgin Atlantic are frequently cited for strong partner redemptions, particularly for international premium cabin travel via airline partners. Award space must exist before transferring — transfers from Ultimate Rewards to airlines are generally one-way and cannot be reversed.
Hyatt at 4:3
The reduced ratio means Hyatt awards cost more Chase points than before. A Category 1 Hyatt requiring 3,500 Hyatt points now costs approximately 4,667 Chase points (rounding up to the next 1,000 increment for transfer). High-value Hyatt properties remain accessible but require more points from Preferred cardholders than from Reserve cardholders.
Hotel caution
IHG, Marriott, and Wyndham transfers at 1:1 are available but hotel points often offer lower per-point value than airline award redemptions. Transfer only after confirming that the specific award night value justifies the transfer — and that the room is actually available.
Insurance and protections
The Sapphire Preferred carries a strong protection package for a $95 annual fee. Coverage applies when eligibility conditions are met — typically requiring that the trip or rental be paid entirely with the eligible card. Review Chase's benefit guide for the specific definitions, covered reasons, time thresholds, and exclusions before relying on any benefit.
Fit checklist
- You want access to Ultimate Rewards transfer partners — especially airlines — without paying a premium annual fee.
- Your spending is spread across dining, gas, streaming, grocery, or vacation rentals, making several 3x categories useful.
- You need primary rental car coverage and solid trip protections more often than you need airport lounge access.
- You plan to use the $100 hotel credit through Chase Travel at least once per anniversary year.
- You are comfortable with the Hyatt transfer ratio moving to 4:3 — or you hold the Sapphire Reserve for Hyatt transfers at 1:1.