Chase Sapphire Preferred® vs Costco Anywhere Visa®
Side-by-side comparison
| Chase Sapphire Preferred® | Costco Anywhere Visa® | |
|---|---|---|
| Annual fee | $95 | $65 |
| Welcome offer | No current offer | |
| Dining | 3x | 3x |
| Groceries | 3x | 1x |
| Gas | 3x | 4x |
| Travel | 2x | 3x |
| Streaming | 3x | 1x |
| Everything else | 1x | 1x |
| Est. yearly rewards* | $545 | $452 |
| Points type | Transfers to airlines & hotels | Cash back only |
| Network | Visa | 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 | Chase Sapphire Preferred® | Costco Anywhere Visa® |
|---|---|---|
| Welcome bonus | 100,000 Ultimate Rewards® Points | None |
| To earn it | $5,000 in 3 months | No minimum spend |
| Est. first-year value* | $1,680 | $387 |
| Est. ongoing value / yr* | $680 | $387 |
The Chase Sapphire Preferred® wins on both fronts: it comes out ahead in year one on the welcome offer and stays ahead every year after. Short term or long, it is the stronger pick on the numbers.
*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 | Chase Sapphire Preferred® | Costco Anywhere Visa® |
|---|---|---|
| Lounge access | None | None |
| Annual credits | ~$230/yr (4 credits) | None |
| Points & redemptions | Transferable to airline & hotel partners | Cash back only |
On perks and redemptions, the Chase Sapphire Preferred® carries the heavier credit stack (about $230 a year); the Chase Sapphire Preferred® earns transferable points with a higher redemption ceiling, while the other is capped nearer a flat cent. Weigh those against the fee, since credits and lounge access only count if you will actually use them.
Transfer partners and point value
Only the Chase Sapphire Preferred® earns transferable points. Its Chase Ultimate Rewards move to World of Hyatt, United, Air Canada, Southwest, and British Airways Avios, where a point can be worth several cents on a premium-cabin redemption, far above its cash value. The Costco Anywhere Visa® pays flat cash back, worth about a cent, so its ceiling is nearer a penny per point no matter how you redeem.
These get compared because both are mid-fee cards with strong dining and travel earning, but they’re built for different people: the Costco card is a cash-back workhorse for Costco members, the Sapphire Preferred is a travel-points card for anyone.
The Costco Anywhere Visa’s 4% on gas is among the best anywhere, and it doubles as your Costco membership card, but its rewards come as an annual certificate redeemable at Costco. The Sapphire Preferred earns transferable points you can move to airlines and hotels for outsized value. Cash-at-Costco vs points-for-travel.
Pros and cons
- 3x on dining, groceries, and gas, and 2x on travel
- Transferable points to World of Hyatt and United, worth over a cent each
- 25% redemption boost and a $100 hotel credit
- No membership required, works everywhere
- $95 fee vs the Costco card’s $65
- Lower gas rate (3x) than the Costco card’s 4%
- Points require learning transfers for full value
- 4% cash back on gas (up to $7,000/yr), among the best rates anywhere
- 3% on dining and travel, 2% at Costco
- Doubles as your Costco membership card
- Simple cash back
- Requires a paid Costco membership to hold
- Rewards pay out only once a year, as a Costco certificate
- Only 1% on groceries (outside Costco) and general spend
- Cash back only, no travel-transfer upside
Where each one wins
| Category | Winner | Why |
|---|---|---|
| Gas | Costco Anywhere Visa | 4% vs the Preferred’s 3x. |
| Dining | Tie | Both 3%. |
| Travel value | Sapphire Preferred | Transferable points can beat cash via Hyatt. |
| Membership | Costco Anywhere Visa | Requires (and includes) Costco membership. |
| Reward timing | Sapphire Preferred | Points anytime vs Costco’s annual payout. |
| Annual fee | Costco Anywhere Visa | $65 (plus membership) vs $95. |
The verdict
If you’re a Costco member who wants straightforward cash back, the Costco Anywhere Visa is excellent and nearly free to hold, its 4% on gas is best-in-class, 3% on dining and travel is strong, and it doubles as your membership card. The catches are that you must keep a Costco membership and your rewards arrive once a year as a Costco certificate. For a Costco-loyal cash-back fan, it’s a quietly great card.
If you want travel value or don’t shop at Costco, the Sapphire Preferred is the better pick, its transferable points can be worth well over a cent each through World of Hyatt and United, it works everywhere with no membership, and you can redeem anytime. These two aren’t really rivals: the Costco card is cash back for members, the Preferred is a travel card for everyone. Many Costco members hold both, the Costco card for gas and warehouse runs, the Preferred for travel.