Is the Sapphire Preferred Worth It?
Card data current as of July 2026.
Enter your own annual spend, set how much of each Sapphire Preferred statement credit you'll actually use, and value its points at whatever they're worth to you — this calculator weighs the $95 annual fee against real earn and real credit usage, conservatively, instead of just listing the card's perks.
Your annual spend
Defaults to a representative household budget — edit any field to match your own.
Card earns
$1,137/yr
A flat 2% card earns
$768/yr
Earn advantage
+$369/yr
What are your Chase points worth to you?
We default to a conservative 1.4¢/point. Redeem for premium travel and it can be worth more; cash out and it's worth about 1¢ — set your own value. (Your cash baseline is separate, so it doesn't change.)
How much of each credit will you use?
$148/yr countedEach credit starts at our conservative realistic-use estimate, not its full face value — most cardholders don't redeem every credit every year. Set the dollar amount you'll actually use (up to face), or uncheck a credit to count it as $0.
- of $120$/yr
- of $120$/yr
- of $120$/yr
- of $100$/yr
How much spend clears the $0 left on the fee?
Assuming you keep the credits above, here's how much annual spend in one category alone (holding everything else the same) would need to earn above the 2% baseline to close the gap.
| Category | Effective rate | Break-even spend |
|---|---|---|
| Groceries | 4.2% | already covered by credits |
| Dining | 4.2% | already covered by credits |
| Travel | 2.8% | already covered by credits |
| Gas | 4.2% | already covered by credits |
| Streaming | 4.2% | already covered by credits |
| Transit | 1.4% | already covered by credits |
| Everything Else | 1.4% | already covered by credits |
How we calculate this: "Card earns" values each bonus category at its best-case rate using conservative, program-specific point values (spend above a category's cap is not counted), which you can override above with your own cents-per-point. The baseline is a flat 2% cash-back card, which you can also change to the no-fee card you'd otherwise carry. Credits default to a conservative realistic-use estimate, never full face, unless you set a higher amount you'll use. These are estimates, not offers — always confirm current terms with the issuer. Read our full methodology ›
Frequently asked questions
- Is the Sapphire Preferred worth the $95 annual fee?
- For the spend and credits assumed above, yes — it nets about $422/yr more than a free 2% cash-back card. That depends on actually using the credits you checked off, so adjust the numbers to your own situation.
- How much do I need to spend to break even on the Sapphire Preferred?
- With the credits you've selected already covering the fee, there's no earn-based break-even left to clear — the card is ahead from credits alone at this spend level.
- How are the Sapphire Preferred's credits valued here?
- By default we assume a conservative, realistic share of each credit gets used — never the full advertised face value — because most cardholders don't redeem every credit every year. You can set the exact dollar amount you'll use for each credit above (up to its face value), or uncheck one to count it as $0.
- What cents-per-point value does this use for Chase points?
- By default we value Chase points conservatively at about 1.4¢ each — close to a realistic median redemption, not a best-case one. You can change that value above to match how you actually redeem (premium travel is often worth more; cashing out is worth about 1¢). It only revalues this card's own points; the 2% baseline is cash and stays fixed.
Is another card worth it?
This tool weighs one card. Card Strategist weighs your whole wallet.
See exactly which card to use for every purchase, and whether the Sapphire Preferred earns its keep next to the cards you already carry — no bank linking, no card numbers.
Get your full personalized strategy for free