Is the Chase Sapphire Preferred worth it in 2026?

Churn it+$1,455 year one

Worth it for year 1 — the welcome bonus clears the fee — but the recurring credits don't cover the fee on their own. Bank the bonus and cancel or downgrade before the second annual fee posts.

Assumes you use every recurring credit and value points at 2.0¢. Adjust for your spend in the calculator →

The year-one math

Welcome bonus75,000 pts × 2.0¢: +$1,500
Recurring credits (if fully used): +$50
Annual fee: −$95
Year-one value: +$1,455
Ongoing (year 2+, no bonus)credits − fee: −$45

Recurring credits

Hotel Credit$50/yr
Anniversary Points (10% boost on prev-year spend)$0/yr

Apply for the Chase Sapphire Preferred

The application happens on Chase Ultimate's site. Then track every recurring credit — and your real keep/churn verdict — in the iOS app.

Apply for Chase Sapphire PreferrediOS app coming soon

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FAQ

Is the Chase Sapphire Preferred worth it in 2026?

Churn it. Worth it for year 1 — the welcome bonus clears the fee — but the recurring credits don't cover the fee on their own. Bank the bonus and cancel or downgrade before the second annual fee posts. This assumes you use every recurring credit and value points at 2.0¢ — adjust both in the calculator for your own situation.

Should I cancel my Chase Sapphire Preferred?

If you won't use enough of the credits, yes. The recurring credits net −$45 against the fee, so year 2+ is negative unless the welcome bonus or a one-time perk justified year 1.

How is "worth it" calculated?

Year-one value = welcome bonus value (points × cents-per-point) + the annualized value of the card's recurring credits − the annual fee. It's the same model the PointsCraft iOS app uses to show what your wallet is actually worth.