Is Chase Sapphire Preferred Good for Cash Back in 2025?

The Chase Sapphire Preferred® Card is marketed as a travel rewards card, but here’s the twist: it quietly beats many flat-rate 2% cash back cards for real-world earn.
 

With strategic spending and simple redemptions, you can earn 3–5% back in everyday categories like dining, travel, and groceries, and cash it out at 1¢ per point as a statement credit or direct deposit.

Why use a travel card for cash back?

Because it works, and often better than cards that only offer 1.5–2% across the board. Here's how:

Points = cash. You can redeem for a statement credit or direct bank deposit at 1¢ per point — no hoops, no travel required.

Notable perks that boost cash-back value

• 💰 Up to $50 hotel credit: Use on prepaid hotels booked through Chase Travel℠. This credit applies automatically every card anniversary and helps offset the $95 annual fee.
• 🔁 10% anniversary points boost: Each year, you’ll get bonus points equal to 10% of your total purchases. Spend $20,000 annually? That’s 2,000 extra points — or $20 in cash.
• 📉 $95 annual fee → effective $45 if you use the hotel credit once.

Quick math: does CSP beat your 2% card?

Let’s compare spending $12,000/year:

📈 CSP wins by $140 in this common spend scenario — even before you account for the flexibility of point transfers (which we’re ignoring here).

Redemption options: simple and instant

• Statement credit: 1¢ per point
• Direct deposit to your bank: 1¢ per point
• Partial redemptions allowed: no need to wait for big totals
• No categories to activate, no rotating gimmicks

Who should consider CSP for cash back?

✅ You want higher returns on dining, travel, and streaming

✅ You’re comfortable booking one hotel a year through Chase Travel℠ to get the $50 credit

✅ You want flexibility — cash back now, travel points later

✅ You’re okay paying a $95 annual fee that’s easily offset

🚫 You spend everything in non-bonus categories (1x = 1%)

🚫 You want flat, no-effort 2% on everything

🚫 You’re already over 5/24 or have a Sapphire Preferred card open (more below)

Eligibility rules to know (Updated June 23, 2025)

• Chase 5/24 rule still applies – If you’ve opened 5 or more personal credit cards in the past 24 months (from any issuer), you’re unlikely to be approved.
• Only one Sapphire card allowed – You cannot hold more than one personal Sapphire card (Preferred or Chase Sapphire Reserve®) at the same time.
• One-time new cardmember bonus per product – As of June 23, 2025, you may only earn the new cardmember bonus for each Sapphire card product once.
• If you have previously received a new cardmember bonus for the Chase Sapphire Preferred® Card, you might not be eligible for that bonus again.

Cash Back FAQs

Q: Can I use points for cash even if I never travel?

Yes. Points earned on CSP can always be redeemed for statement credit or bank deposit at 1¢ each — no need to book flights or hotels.
 

Q: Do I have to use Chase Travel℠ to get cash value?

Nope. That portal is only for the hotel credit and bonus point categories. You can earn and redeem without ever logging in.
 

Q: Is the $50 hotel credit actually cash?

The up to $50 hotel credit is issued as a statement credit. It offsets your annual fee, so it’s effectively a $50 rebate, as long as you book one prepaid hotel through Chase Travel℠ each year.
 

Q: What happens to my points if I downgrade or cancel?

You’ll want to redeem or transfer them first. Or downgrade to a no-fee Freedom card to preserve your balance.

Final Verdict

The Chase Sapphire Preferred® Card isn’t just a travel card; it’s a stealthy cash-back machine for everyday spenders. If you dine out, travel even a little, or stream Netflix, the math adds up fast:

• 3–5% back in core categories
• Anniversary bonus + hotel credit
• Flexibility to use points for cash now, travel later

If you're optimizing for real-world value (not just theoretical redemption stories), this is one of the best cards you can get in 2025.