The Chase Sapphire Preferred Card is under the spotlight for its annual fee of $95, as cardholders and potential applicants weigh the benefits against the costs. The card, popular among frequent travelers and points enthusiasts, offers several features that may justify its annual fee.
Among the biggest draws is the card's welcome offer. New cardholders can earn 100,000 bonus points after spending $5,000 within the first three months. This matches the highest bonus the card has offered in three years. Points earned can be redeemed for travel purchases via Chase Travel, equating to at least $1,250, or potentially $2,050 when using the Chase Ultimate Rewards program's transfer partners.
The annual fee is further offset by a $50 hotel statement credit. The credit is applied each year for hotel bookings made through Chase Travel. Users should note that booking via the portal may not yield hotel points or elite benefits, but the credit typically posts within four days.