Bilt Obsidian vs Chase Sapphire Preferred®
Side-by-side comparison
| Bilt Obsidian | Chase Sapphire Preferred® | |
|---|---|---|
| Annual fee | $95 | $95 |
| Welcome offer | $200 Bilt Cash + 50,000 points | |
| Dining | 3x | 3x |
| Groceries | 3x | 3x |
| Gas | 1x | 3x |
| Travel | 2x | 2x |
| Streaming | 1x | 3x |
| Everything else | 1x | 1x |
| Est. yearly rewards* | $490 | $545 |
| Points type | Transfers to airlines & hotels | Transfers to airlines & hotels |
| Network | Mastercard | Visa |
*Estimated yearly rewards on typical household spending, every point valued at a flat 1 cent. Verified July 2026. See your own numbers in the calculator.
Welcome bonus and value over time
| Over time | Bilt Obsidian | Chase Sapphire Preferred® |
|---|---|---|
| Welcome bonus | $200 Bilt Cash + 50,000 points | 100,000 Ultimate Rewards® Points |
| To earn it | $4,000 in 3 months | $5,000 in 3 months |
| Est. first-year value* | $1,395 | $1,680 |
| Est. ongoing value / yr* | $695 | $680 |
This one splits by time horizon. In year one the Chase Sapphire Preferred® is ahead by roughly $285, thanks largely to its welcome offer. But the Bilt Obsidian earns more every year after, so if you keep it, it overtakes the Chase Sapphire Preferred® only over the very long haul. Chasing the sign-up bonus and open to canceling before the second annual fee? Take the Chase Sapphire Preferred®. Planning to keep it for years? The Bilt Obsidian pulls ahead.
*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent.
Perks, credits, and redemptions
| Perks | Bilt Obsidian | Chase Sapphire Preferred® |
|---|---|---|
| Lounge access | None | None |
| Annual credits | ~$300/yr (2 credits) | ~$230/yr (4 credits) |
| Points & redemptions | Transferable to airline & hotel partners | Transferable to airline & hotel partners |
On perks and redemptions, the Bilt Obsidian carries the heavier credit stack (about $300 a year). Weigh those against the fee, since credits and lounge access only count if you will actually use them.
Transfer partners and point value
The Bilt Obsidian earns Bilt Rewards, which transfers to Alaska / Atmos, Air Canada, World of Hyatt, American Airlines, and Turkish. The Chase Sapphire Preferred® earns Chase Ultimate Rewards, reaching World of Hyatt, United, Air Canada, Southwest, and British Airways Avios. Most transfers are 1:1 on both, so the partners themselves, not the ratios, are what separate them.
The standout difference is the crown-jewel partner: for the Bilt Obsidian it is Alaska and Hyatt, a rare pairing that covers both a top airline and a top hotel program; for the Chase Sapphire Preferred® it is World of Hyatt at 1:1, widely considered the single best hotel transfer in points. Pick the program whose best partners match the trips you would actually book.
The verdict
On a typical year of household spending, the Bilt Obsidian earns about $490 a year in rewards and the Chase Sapphire Preferred® about $545, valuing every point at a flat 1 cent. The Bilt Obsidian charges $95, but carries about $300 in annual statement credits that offset it for anyone who uses them. The Chase Sapphire Preferred® charges $95, but carries about $230 in annual statement credits that offset it for anyone who uses them. The two are close on value, but the Chase Sapphire Preferred® edges ahead by about $20 a year, mostly because it earns more where you spend most, on gas and streaming. Both earn transferable points rather than flat cash, so the deciding factor is whose transfer partners reach the airlines and hotels you would actually book. On the sign-up bonus, the Chase Sapphire Preferred® currently has the larger welcome offer (a limited-time offer above its usual amount, so treat it as a one-time boost). A welcome bonus is a one-time event, so weigh it apart from the ongoing rewards.
Pick the Chase Sapphire Preferred® if your spending leans toward gas, streaming.