Chase Sapphire Preferred Review 2026: Is the $95 Annual Fee Worth It?

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If you're on the fence about applying for the Chase Sapphire Preferred, let's actually run the numbers instead of just vibes.

The basics. $95 annual fee. Currently a 100,000-point welcome bonus after $5,000 spend in 3 months, one of only three times in the card's 17-year history it's hit six figures. That bonus alone is typically worth $1,250+ when redeemed through Chase Travel, or more when transferred to airline/hotel partners.

Where the ongoing value comes from: 5x points on travel purchased through Chase Travel; 3x points on dining, online groceries, select streaming, gas, EV charging, and vacation rentals; 2x points on all other travel; 1x points on everything else.

The credits that offset the fee: a $100 Chase Travel Hotel Credit annually, up to $120 Global Entry/TSA PreCheck/NEXUS credit every 4 years, a complimentary 1-year Apple TV+ subscription (activate by 12/31/2026), and new emergency evacuation and transportation travel protection added in June 2026.

Do the math and the $100 hotel credit alone covers the $95 fee in most years. Everything else is upside.

What changed recently that you should know: Chase eliminated the 10% anniversary points bonus for anyone who applied on or after June 15, 2026, and adjusted the Hyatt transfer ratio to 4:3 (1,000 Chase points now become 750 Hyatt points instead of a 1:1 transfer). Neither change is a dealbreaker, but they do shave a bit off the card's long-term value compared to a few years ago.

Who should get this card: anyone spending a few hundred dollars a month on dining and travel who wants real, flexible rewards without a triple-digit annual fee. It's also the natural first step if you might eventually want to pair it with the Sapphire Reserve or a Chase Freedom card to build out a full points strategy.

Bottom line: for $95, this is still one of the strongest value propositions in the credit card world in 2026. The 100K bonus alone makes now a good time to consider applying.

Disclosure: I may earn a commission if you apply through a link on this site. All opinions are my own.