Chase Sapphire Preferred® vs Southwest Rapid Rewards® Priority

Chase Sapphire Preferred®
VS
Southwest Rapid Rewards® Priority
By Bryce Casson, Founder · Cardocrat · Updated June 2026
The short answer: The Chase Sapphire Preferred® delivers a bit more value for most spenders.

Side-by-side comparison

Chase Sapphire Preferred®Southwest Rapid Rewards® Priority
Annual fee$95$229
Welcome offer75,000 100,000 Ultimate Rewards® Points (limited-time)50,000 90,000 Rapid Rewards® bonus points (limited-time)
Dining3x2x
Groceries3x1x
Gas3x2x
Travel2x1x
Streaming3x1x
Everything else1x1x
Est. yearly rewards*$545$343
Points typeTransfers to airlines & hotelsLocked to Southwest Rapid Rewards
NetworkVisaVisa

*Estimated yearly rewards on typical household spending, every point valued at a flat 1 cent. Verified June 2026. See your own numbers in the calculator.

The verdict

On a typical year of household spending, the Chase Sapphire Preferred® earns about $545 a year in rewards and the Southwest Rapid Rewards® Priority about $343, valuing every point at a flat 1 cent. The Chase Sapphire Preferred® charges $95, but carries about $230 in annual statement credits that offset it for anyone who uses them. The Southwest Rapid Rewards® Priority charges $229, but carries about $75 in annual statement credits that offset it for anyone who uses them. Counting rewards, fees, and any credits, the Chase Sapphire Preferred® delivers more total value, about $413 a year more for a typical spender, mostly because it earns more where you spend most, on groceries and dining. The bigger difference is the ceiling: the Chase Sapphire Preferred® earns points you can move to travel partners for outsized value, while the Southwest Rapid Rewards® Priority stays locked to a single airline or hotel program. Favor the Chase Sapphire Preferred® if you will use travel transfers, the Southwest Rapid Rewards® Priority if you want simplicity. On the sign-up bonus, the two are currently comparable in size. Note that Chase Sapphire Preferred® and Southwest Rapid Rewards® Priority are running a limited-time offer above the usual amount, so that edge may not last. 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 dining, groceries, gas.

Read the full reviews

Frequently asked questions

Is the Chase Sapphire Preferred® or the Southwest Rapid Rewards® Priority better?
On typical household spending, the Chase Sapphire Preferred® comes out ahead after its annual fee, by roughly $413 a year with every point valued at a flat 1 cent. But the Southwest Rapid Rewards® Priority can be the better fit if your spending lines up with its stronger categories. Run both through the Cardocrat calculator to see your own numbers.
Can I have both the Chase Sapphire Preferred® and the Southwest Rapid Rewards® Priority?
In most cases yes, as long as you meet each issuer's approval rules (for example Chase's 5/24 rule). Many people hold complementary cards to cover more bonus categories, then pool or redeem the rewards together where the program allows.
Which has the better welcome bonus, the Chase Sapphire Preferred® or the Southwest Rapid Rewards® Priority?
As of June 2026, the Chase Sapphire Preferred® offers 100,000 Ultimate Rewards® Points and the Southwest Rapid Rewards® Priority offers 90,000 Rapid Rewards® bonus points. Welcome offers change often, so confirm the current offer on each card's page before applying.
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