Chase Sapphire Preferred
Chase · $95 annual fee

What the Sapphire Preferred changes on every stack

Last verified September 15, 2026 ·Terms re-checked monthly·Report a wrong rate
75,000 pts welcome offer

This is our referral link. Chase pays us bonus points if you're approved. The offer shown on the referral page is the same one you'd get on chase.com today, and we'll say so here if that ever changes. Prefer to go direct? Issuer's page. Disclosure

The Preferred was refreshed on June 15, 2026 and, for the retailers on this site, it got better in one specific place: vacation rentals booked directly (Vrbo, Airbnb) now earn 3x, more than the Reserve earns on the same booking. Sixt, Marriott, and airlines booked direct earn 2x. Everything in fashion, home, tech, and beauty earns 1x. The $100 hotel credit (up from $50) requires booking through Chase Travel, so it never combines with a portal. And the Hyatt transfer ratio dropped to 4:3 for new applicants, which is the change that most affects what a Preferred point is worth.

The 30-second answer

How this card earns on Stackable retailers

  • Chase Travel bookings
    Never portal-trackable
    5x
  • Vacation rentals booked direct (Vrbo, Airbnb)
    New June 2026. Stacks with Vrbo's 6% on Rakuten
    3x
  • Dining, gas, EV charging, streaming, online grocery
    3x
  • Other travel booked direct (Sixt, Marriott, airlines)
    Stacks with the portal
    2x
  • Every other retailer on this site
    Fashion, home, tech, beauty, tickets
    1x
Welcome offer
75,000 pts
After $5,000 in three months, as seen on chase.com September 15, 2026. A 100,000-point launch offer ran at the June refresh.

Referral link: Chase pays us bonus points if you're approved; your offer doesn't change. Go direct instead.

Affiliate disclosure: some links earn us a commission. They never change which strategy we recommend. Methodology · Full disclosure.

Credits, and which ones stack with a portal

CreditValueHow it worksPortal stacks?
Hotel credit
Chase Travel only
$100 / yrHotel stays booked through Chase Travel, per cardmember year. Raised from $50 in June 2026. Terms ↗No
Global Entry / TSA PreCheck
Direct
$120 / 4 yrsNew in June 2026.No
DoorDash
In-app
~$120 / yr12 months of DashPass (activate by December 31, 2027) plus a $10 monthly promo.No
Apple TV
Activation
12 monthsComplimentary, activate by December 31, 2026.No
10% anniversary bonus
n/a
EndedRemoved in the June 2026 refresh. Existing holders keep it through October 1, 2026, final payout by January 2027.No

The rule this page exists for

Chase Travel bookings earn 5x and unlock the $100 hotel credit, and they never track on a cashback portal. Direct bookings earn 2x or 3x and do track. On every travel page here the question is whether 3 extra points per dollar plus a $100 credit beats a 4 to 12% portal rate, and at the portal rates on Sixt, Vrbo, and Marriott, the portal usually wins.

Where the multipliers land

3x on vacation rentals booked direct is the one that matters: Vrbo through Rakuten earns 6% cashback plus 3x on the Preferred. Sixt, Marriott direct, and airline fares direct earn 2x. Dining earns 3x but no retailer here codes as dining. Everything else, including every fashion, home, tech, and beauty page, is 1x.

Chase Offers on the Preferred

Same targeting pool as the Reserve. Seen in 2025 and 2026 at Stackable retailers: Away ($100 on $400 for Preferred, May), Marriott (10% up to $50, quarterly), Sixt (15% up to $76), Dyson (5% up to $50), Mr Porter ($100 on $500, live through November 9), Sephora (10% up to $12). Statement credits; they stack with portals and sale prices.

Ultimate Rewards in 2026

1:1 to Aer Lingus, Aeroplan, Flying Blue, British Airways, Iberia, JetBlue, Singapore, Southwest, United, Virgin Atlantic, IHG, Marriott, and Wyndham. Hyatt is 4:3 on the Preferred as of the June refresh (1:1 on the Reserve). Points Boost replaced the old 1.25x redemption in October 2025.

What it changes, by retailer

RetailerWith this card
VrboThe Preferred's best page. 3x on the booking plus Rakuten 6% plus One Key. The homepage Vrbo example is built on this card.
Sixt2x plus TopCashback 8% (Rakuten 4%) plus SIXT ONE. A 15% Chase Offer (capped at $76) has recurred.
Marriott2x booked direct through TopCashback 4%. The Bonvoy cards earn 6x on the same stay; use the Preferred only if you don't hold one.
Qatar, Virgin Atlantic, Alaska, ITA, Turkish2x booked direct, and the fare tracks on the portal. Virgin Atlantic is a 1:1 transfer partner; Qatar via British Airways Avios.
AwayA May Chase Offer ($100 on $400 for Preferred) has run two years in a row. 1x otherwise.
Mr PorterChase Offer $100 on $500 live through November 9 (targeted). Stacks with the 10% code and a portal.
StubHub1x, and no StubHub credit (that's Reserve-only). TopCashback 10% still applies.
Bergdorf, Sephora, Dyson, Samsung, and the rest1x. The Preferred adds nothing beyond a targeted Chase Offer when one appears.

If this card fits your stack, apply here.

Our referral link pays us points when you're approved and doesn't change your offer. It's how the Chase Sapphire Preferred page stays free and independently verified.

Prefer to go direct? Issuer's page.

Get alerted when this card's offers or credits change.

We email when a new Amex or Chase offer lands at a retailer on this site, and when an issuer changes a credit that affects a stack.

FAQ

Why does the Preferred earn more than the Reserve on Vrbo and Sixt?
The June 2026 refresh gave the Preferred a 3x vacation-rental category and kept a 2x "other travel" tier. The Reserve's 2025 refresh concentrated its multipliers on flights and hotels booked direct (4x) and Chase Travel (8x), with no other-travel tier, so car rentals and vacation rentals fall to 1x there.
What happened to the Hyatt ratio?
New Preferred applicants since June 15, 2026 transfer to World of Hyatt at 4:3 (1,000 points become 750). Existing holders move to 4:3 on October 1, 2026. The Reserve stays 1:1. Every other partner remains 1:1 on both cards.
Does the $100 hotel credit stack with a portal?
No. It requires booking through Chase Travel, which isn't on any cashback portal. On a Marriott stay you choose: Chase Travel with the credit and 5x, or marriott.com through TopCashback at 4% cashback with 2x.
What are Preferred points worth?
One cent on Chase Travel by default, up to 1.5x with Points Boost on flagged hotels and airlines (1.75x on some premium cabins). Transfers to Virgin Atlantic, United, or Flying Blue at 1:1 can reach 1.5 to 2 cents. With the Hyatt cut, 1.25 to 1.75 cents is a fair working range.
Do Chase Offers stack with portals?
Yes. "Pay the merchant directly" excludes Amazon or an OTA, not a portal click. Targeted, one-time, add before purchase.

Sources

What we read to write this page. Every link is the company's own page, not a summary of it.

Paxton Pennington
Written and verified by the Stackable team · Paxton Pennington, founder

Stackable started when a search for the best week to buy luggage turned up only coupon sites that were wrong, expired, or worse. Every page here is the team reading the portal's own store page, the issuer's offer terms, and the retailer's policies, on the date shown, with a named person accountable for it. How pages are made · LinkedIn