Chase Sapphire Preferred 2026 Update: New Benefits, Same $95 Annual Fee

I’ve gotta hand it to Chase — the strategy behind this refresh is sharp, and no doubt will be highly effective.

While much of the world continues to cater to the premium crowd, Chase is swooping in for the savvy rest of us — the growing audience getting squeezed out of sky-high annual fee cards by the rising cost of, well, pretty much every damn thing.

I’ve appreciated the Chase Sapphire Preferred as an entry-level points card for years, but the major facelift it’s undergoing on and resetting June 15 will not only draw new applicants — it will retain cardholders who may have been flirting with the idea of letting this one go.

Guilty. I was gearing up to ditch it this year.

The Annual Fee Isn’t Changing — and That’s a Big Deal

First off, the annual fee is not changing. That’s right — in the shadow of almost every credit card raising fees to eye-watering levels (looking at you, Amex Platinum, and Chase’s own sibling, the Sapphire Reserve), the Preferred is holding steady at $95 a year.

What’s Getting Added

• 3x on gas and EV charging
• 3x on VRBO and Airbnb rentals
• $120 credit for Global Entry or TSA PreCheck
• $100 hotel credit through the Chase travel portal (up $50 from before)
• Enhanced travel protection — now includes emergency evacuation and transportation up to $100,000
• One year of Apple TV free (activate by December 31, 2026)

New upgrades like this are frankly unheard of at this price point — and my hunch is that these changes are partly an effort to offset the rocky rollout of the Chase Sapphire Reserve last year.

Already in Your Wallet

These additions stack on top of what was already there in the original:

• 3x on dining, including takeout and some delivery services
• 5x on Lyft rides
• 5x on travel booked through the Chase portal, including hotels, flights, cruises and rental cars
• 2x on all other travel purchases (direct airfare, hotels, transportation and trains)
• 3x on streaming services
• 3x on online grocery shopping
• Complimentary DashPass
• 5x on Peloton equipment

Free Authorized Users — Still One of the Best Kept Secrets

It’s worth pointing out that adding authorized users on the Chase Sapphire Preferred remains free of charge — and that’s increasingly rare. Capital One’s Venture X is one of the only other rewards cards that doesn’t charge for additional users. Premium cards like the Amex Platinum charge upwards of $175 per authorized user annually.

Adding a trusted partner or family member is a smart strategy: a faster way to accumulate points, increased ability to hit sign-up bonus spending thresholds, and a way to build or improve credit for the authorized user. They’ll have access to the enhanced earning categories and travel protections — but not the hotel credit, TSA/Global Entry credit, DashPass, or Apple TV benefit, which remain primary cardholder perks.

What’s Being Cut or Downgraded

It can’t be all sunshine and rainbows- the shortlist of what’s on the chopping block:

• The annual 10% anniversary points bonus program will end
• Chase Ultimate Rewards points will transfer to World of Hyatt at a 4:3 ratio instead of 1:1 — so 1,000 Chase points gets you 750 Hyatt points. An extra bummer on the heels of recent changes to Hyatt’s award tiers

While the downgrades are real, the additions and enhancements far outweigh them.

The Bottom Line

New and existing cardholders will have access to the enhanced benefits starting June 15.

Additionally, Chase just announced an elevated sign-up offer- 100,000 Chase Ultimate Rewards points after spending $5,000 in the first 3 months.

For a card with a $95 annual fee, free authorized users, and perks that add up to multiple hundreds of dollars in value, the Chase Sapphire Preferred is one of the best cards to add to your wallet right now.

I’ve personally redeemed my points for a 5-night stay at a stunning boutique hotel in San Pancho, Mexico, several car rentals, and upcoming trips to Philadelphia and Portugal — so I can vouch for how far these points go when used well.

If you know someone with a card in the Chase Sapphire family, ask them for a referral link — they can earn up to 15,000 bonus points for referring you, and the offer through a referral link is sometimes better than what’s advertised publicly.

Find more details on the referral process here, or sign up here.