Why I Keep My Chase Sapphire Preferred Card


I keep my Chase Sapphire Preferred card year after year. Why?, is a question you might ask. It has a $95 annual fee and I’ve already used the signup bonus so why keep it? Here are 5 reasons it will remain in my pocket.




Ability to Use Transfer Partners and Travel Portal

In order to use transfer partners and get 1.25 cents per point in the travel portal, you have to be in possession of the Chase Sapphire Preferred, the Chase Sapphire Reserve, or the Chase Ink Business Preferred. I continue to earn Ultimate Rewards so I want to be able to do this. This is the main reason I will keep this card. It is the only card of the three listed above that I currently have.


Time Till Reapplying

You can reapply for this card when it has been 48 months since you last received the bonus. I have had my card for two years so I have 2 years and about 3 months before I can reapply for it. I will keep it until I hit closer to the 2-year and 3-month mark and then downgrade to a Freedom Flex. Then I will reapply and combine those points together. I need my CSP to get the max value out of Ultimate Rewards. I primarily use it to transfer Ultimate Rewards for oversized value with Hyatt stays.


Hyatt Residence Club Maui

You can stay at the Hyatt Residence Club in Maui with Chase Ultimate Rewards transferred to Hyatt.


Annual Fee

The annual fee is only $95. That is not much to be able to use for transfer partners or in the travel portal. Annual fees are with paying most times and we don’t get hung up on them. They are the vehicle for amazing benefits and signup bonuses.



Here are the benefits of the Chase Sapphire Preferred. I like the primary rental car insurance the most and having that is definitely worth the $95 annual fee as it saves me a ton of money when I rent cars on vacation!

  • 5x points earned on travel booked in the Chase travel portal
  • 5x on Lyft rides till March 2025
  • 3x points on dining and takeout
  • 3x points on select streaming services (Apple Music, Disney+, ESPN, Fubo TV, Hulu, Netflix, Pandora, Sirius XM, Sling, Spotify, Vudu, and YouTube TV)
  • 3x points on online grocery purchases (not including Target, Walmart, and grocery clubs)
  • 2x points earned on travel booked outside of the Chase travel portal
  • 1x points on all other purchases
  • $50 annual hotel credit on hotels purchased with Ultimate Rewards.
  • 10% bonus on Ultimate Rewards points earned on your total spending amount when you renew your card and pay the annual fee each year
  • Complimentary DashPass membership for at least one year (enroll by Dec. 31, 2024)
  • Complimentary Instacart+ for 6 months plus $15 credit each quarter
  • $10 monthly Gopuff credit
  • Primary Auto Rental Collision Damage – this is huge as most offer only secondary insurance coverage.
  • No foreign transaction fees
  • Baggage delay insurance, trip delay, and interruption insurance
  • 24/7 access to customer service
  • Zero liability protection


When you take into account the $50 annual hotel credit, the annual fee is only $45. If you can take advantage of those other benefits, like DoorDash then your annual fee is more than covered. I totally think these benefits are worth keeping this card.


Bottom Line

These four reasons are why I keep My Chase Sapphire Preferred Credit Card year after year. It is one of my favorite cards in my wallet. What are your thoughts about this card?

Chase Sapphire Preferred

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  1. Hannah says:

    What does all the trip insurance entail? Like if I get sick right before my trip and have to cancel would that be included?

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