I've kept the Chase Sapphire Preferred in my wallet since 2018, and it's outlasted a lot of other cards I've picked up and dropped along the way. Got the Reserve in 2020. Got the Amex Platinum in 2021, downgraded it, upgraded it again. Added a few co-brands after that. But despite all the moves, the CSP stays in my wallet.
It's the one card that just works, no matter what premium setup you have. And if you can make use of the credits, it is practically free. The math: $95 annual fee, but $120 in DoorDash (non-restaurant) credits plus $50 hotel credit equals $170 in value before you even earn a point.
TL;DR
- The annual fee is $95
- You get $170 in annual credits ($120 DoorDash non-restaurant + $50 hotel via Chase Travel)
- That's a $75 profit before spending
- 10% anniversary bonus gives you free points every year based on total spending
- Earning rates: 5X on Chase Travel, 3X on dining/streaming/groceries, 2X on other travel
- Points are worth 1¢ as cash back or you can transfer 1:1 to 14 partners for higher value
- Why it stacks with any setup: flexible points, low fee, credits you'll actually use
The DoorDash Credit That Actually Works
You get $10 per month in DoorDash credit on non-restaurant orders, which adds up to $120 per year if you actually use it. Most people think this means food delivery and they're missing the best part.
7-Eleven counts as non-restaurant.
Here's what I've been doing for the past two years. I place a pickup order at 7-Eleven through DoorDash for some snacks or a few beers. Since I'm picking up, there's no delivery fee, no service fee, no tip to worry about. The full $10 goes to actual items I would actually consume.
Compare that to getting food delivered. If I order $15 of food on DoorDash with delivery, I'm paying $3 delivery fee, $2 service fee, and probably $3 for tip. That's $8 in fees right there. My $10 credit covers the fees plus $2 of food, so I'm still paying $13 out of pocket and I got $2 worth of free food. With 7-Eleven pickup, I pay nothing and walk out with $10 worth of stuff.
It's one of the easiest $120 I get from any card since I can use it for everyday essentials instead of food delivery and you'll actually capture the full $120 every year.
Be careful though. Some stores do mark up prices on DoorDash compared to their in-store pricing, so check the prices before you place your order. I've found that 7-Eleven pricing on DoorDash is usually close to what you'd pay in the store, but it varies by location. If your local store is jacking up prices by 20-30%, find a different store on DoorDash where the pricing makes sense. The goal is to get $10 worth of actual value, not $10 worth of marked-up items.
Also, not every store allows pickup orders through DoorDash. If 7-Eleven isn't available in your area, check other convenience stores or retailers that might be on the platform. I personally find convenience stores or liquor stores seems to have most pick up options.
$50 Hotel Credit (Even Simpler)
The hotel credit is $50 per anniversary year for hotels booked through Chase Travel, and it's probably the most straightforward credit I've seen on any card. Book prepaid rates through the portal and you're done.
No hoops to jump through, no minimum spend per booking, and Chase Travel actually has competitive rates. I booked a $200 hotel stay last month and paid $150 out of pocket. The credit posted when the transaction posted, so I didn't have to wait weeks wondering if it would show up.
The 10% Anniversary Bonus (Free Points Every Year)
Here's a benefit most people forget about. Every year on your card anniversary, Chase automatically gives you bonus points equal to 10% of everything you spent in the previous year.
If you put $20,000 on the card last year, Chase drops 2,000 bonus points into your account on your anniversary. That's $20 as cash back, or $30-40 if you transfer to partners like Hyatt or United. If you're putting $30,000 or more on the card annually, that's an extra 3,000+ points every year just for having the card.
This stacks on top of the points you already earned from spending, so it's pure bonus. No enrollment, no tracking, no activation required. Chase just calculates it and credits your account automatically.
The Math
Let me show you what the ROI looks like at different spending levels, because this card makes sense for a pretty wide range of people.
Light spender ($500/month on dining and groceries):
- $6,000 annual spend times 3X equals 18,000 points
- 18,000 points equals $180 cash back (at 1¢ per point)
- Credits: $170
- Annual fee: negative $95
- Net: positive $255
Moderate spender ($1,000/month on dining and groceries):
- $12,000 annual spend times 3X equals 36,000 points
- 36,000 points equals $360 cash back (at 1¢ per point)
- Credits: $170
- Annual fee: negative $95
- Net: positive $435
Heavy spender ($2,000/month on dining and groceries):
- $24,000 annual spend times 3X equals 72,000 points
- 72,000 points equals $720 cash back (at 1¢ per point)
- Credits: $170
- Annual fee: negative $95
- Net: positive $795
These numbers assume cash back redemption at 1¢ per point, but transfer partners often yield 1.5¢ to 2¢ per point depending on how you book. I transferred 25,000 Ultimate Rewards to Hyatt last year for a hotel that would've cost $600 cash, which works out to 2.4¢ per point. If you're using transfers instead of cash back, multiply the point values above by 1.5-2X.
💡 Tracking Tip: With the CSP's monthly DoorDash credit and anniversary-based hotel credit, it's easy to forget one or both. If you're managing multiple cards with different reset schedules, a benefit tracker like CardGenius helps ensure you capture every dollar.
Bottom Line
The math works out to $170 in credits minus $95 fee equals $75 profit before you earn a single point, and then you're earning 3X on categories you actually spend on like dining, groceries, and streaming. Ultimate Rewards transfer to 14 partners for higher value or you can cash out at 1¢ per point, so the redemption flexibility is there when you need it.
The CSP complements basically any setup you already have. Premium cards, co-brands, cash back cards. Doesn't matter. The earning is strong, the redemption is flexible, and the credits are actually easy to use without jumping through hoops every month.
The DoorDash trick alone makes this card worth keeping. Use it for 7-Eleven pickup and get $10 in actual items every month instead of watching delivery fees eat your credit. That's $120 per year right there. Add the $50 hotel credit and you're at $170, which means you've already made $75 profit on a $95 annual fee before considering any earning.
The CSP is not the only card you need. But it's probably the easiest card to justify keeping. Low fee, easy benefits, strong earning in categories people actually spend on, and flexible redemption when you want to use your points. For most people, this is a no-brainer.
You can probably skip this if you already have Chase Freedom Unlimited or Freedom Flex plus a Reserve, because you're already covered and don't need another card paying an annual fee. Or if you genuinely don't want to redeem for travel ever and would rather stick to straight cash back.
For everyone else, I'd recommend keeping this card in your wallet.