Discover the features, pros, and cons of the Chase Sapphire Preferred credit card. Learn why it’s a top choice for travelers and how it compares to other cards in the market.
The Chase Sapphire Preferred is one of the most popular travel rewards credit cards, offering numerous benefits and earning potential for frequent travelers and everyday spenders alike. In this guide, we’ll dive into the key features, pros, cons, and how it stacks up against other credit cards. Whether you’re looking to maximize your travel rewards or simply earn more from everyday purchases, the Chase Sapphire Preferred is a versatile choice.
What is the Chase Sapphire Preferred?
The Chase Sapphire Preferred is a premium travel rewards card from Chase, part of the Sapphire series. It is designed to help cardholders earn valuable points on travel, dining, and other everyday purchases, with the added benefit of redeeming those points for travel, gift cards, cashback, and more. This card comes with a range of features tailored to travelers and those looking to get more value from their spending.
Key Benefits of the Chase Sapphire Preferred
- Welcome Bonus: One of the standout features of the Chase Sapphire Preferred is its lucrative welcome bonus. New cardholders can earn 60,000 points after spending $4,000 within the first 3 months, which is worth $750 when redeemed for travel through Chase Ultimate Rewards®.
- Earn Points on Everyday Purchases: Cardholders earn 2x points on travel and dining at restaurants & 1 point per dollar spent on all other purchases. These bonus categories can add up quickly, especially for frequent travelers or those who enjoy dining out.
- Flexible Point Redemption: Points earned with the Chase Sapphire Preferred can be redeemed for travel through the Chase Ultimate Rewards® portal at 1.25 cents per point, which provides better value than many other rewards programs. Alternatively, you can transfer points to over 14 airline and hotel partners for potentially even more value.
- Travel Protection: The card offers essential travel insurance benefits, including trip cancellation/interruption insurance, primary rental car insurance, and baggage delay coverage. These protections can give peace of mind when booking your next trip.
- No Foreign Transaction Fees: This feature is invaluable for international travelers. Many credit cards charge fees when making purchases abroad, but the Chase Sapphire Preferred waives these fees, making it a solid choice for global explorers.
Pros of the Chase Sapphire Preferred
- High Earning Potential: With 2x points on travel and dining, it’s an excellent card for those who spend in these categories.
- Generous Sign-Up Bonus: The 60,000-point bonus after meeting the spending requirement is an attractive feature for new applicants.
- Flexible Redemption Options: Points can be redeemed for travel at a higher rate or transferred to travel partners for potentially more value.
- Travel Protection Benefits: Cardholders can enjoy peace of mind with coverage like trip cancellation, lost luggage, and more.
- No Foreign Transaction Fees: This makes it a solid option for those traveling abroad.
Cons of the Chase Sapphire Preferred
- $95 Annual Fee: While the annual fee is relatively low for a travel card, it may not be ideal for those who don’t travel often enough to justify the cost.
- High APR: The APR on purchases can be high, making it less suitable for individuals who tend to carry a balance.
- Requires Good Credit: To qualify for the Chase Sapphire Preferred, you’ll typically need a good to excellent credit score (700+), so it may not be accessible to all applicants.
Chase Sapphire Preferred vs. Chase Sapphire Reserve
When comparing the Chase Sapphire Preferred with its more premium sibling, the Chase Sapphire Reserve, there are a few key differences to consider:
| Feature | Chase Sapphire Preferred | Chase Sapphire Reserve |
|---|---|---|
| Annual Fee | $95 | $550 |
| Sign-Up Bonus | 60,000 points (worth $750 in travel) | 60,000 points (worth $900 in travel) |
| Points Earned on Travel/Dining | 2x points | 3x points |
| Points Redemption Rate | 1.25 cents per point through Chase Ultimate Rewards® | 1.5 cents per point through Chase Ultimate Rewards® |
| Travel Protections | Includes primary rental car insurance, trip cancellation, etc. | Includes primary rental car insurance, trip cancellation, airport lounge access, etc. |
| Foreign Transaction Fees | No | No |
While the Chase Sapphire Reserve offers more premium benefits and a higher points earning rate, it comes with a significantly higher annual fee. If you travel frequently and want a more luxurious experience, the Chase Sapphire Reserve may be the better choice. However, for those who want to enjoy valuable rewards at a lower cost, the Chase Sapphire Preferred is a great option.
Who is the Chase Sapphire Preferred Best For?
The Chase Sapphire Preferred is ideal for:
- Frequent Travelers: The 2x points on travel and no foreign transaction fees make it a fantastic option for globetrotters.
- Foodies: If you dine out often, the 2x points on dining at restaurants are a great way to accumulate more rewards.
- People Who Want Flexible Rewards: With the ability to redeem points in various ways, from travel to gift cards, this card offers great flexibility.
- Those Looking for a Lower Annual Fee: While the $95 fee is not waived, it’s lower than many other travel cards with similar benefits, making it a great option for those who want quality rewards at an affordable price.
Conclusion
The Chase Sapphire Preferred remains one of the best travel rewards credit cards on the market, offering a solid combination of benefits, flexibility, and earning potential at an affordable price. While there are some drawbacks, such as the annual fee and APR, the overall value and rewards potential make it an excellent choice for travelers looking to maximize their spending.
If you’re looking for a reliable, versatile rewards card that doesn’t break the bank, the Chase Sapphire Preferred is certainly worth considering. For more information, visit Chase Sapphire Preferred.
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Chase Sapphire Preferred FAQs:
Chase Sapphire Preferred Lounge Access
While Chase Sapphire Preferred cardholders do not receive direct access to airport lounges, there is an option for lounge access when paired with a premium card like the Chase Sapphire Reserve. If lounge access is a key feature for you, you might want to consider upgrading to the Chase Sapphire Reserve, which offers automatic access to over 1,000 lounges worldwide through the Priority Pass program. However, the Chase Sapphire Preferred still offers other valuable travel rewards that make it a worthwhile card for travelers.
Chase Sapphire Preferred Travel Rewards
The Chase Sapphire Preferred card shines when it comes to travel rewards. You can earn 2x points on travel and dining at restaurants, including takeout and delivery. Points are earned quickly in these categories, which can significantly boost your rewards balance. Whether you’re booking flights, hotels, or experiences through Chase Ultimate Rewards, the Chase Sapphire Preferred gives you the ability to earn meaningful rewards with every travel-related purchase.
Additionally, points earned can be redeemed for travel through the Chase Ultimate Rewards portal at a rate of 1.25 cents per point. This makes your points go further compared to many other travel credit cards.
Chase Sapphire Preferred Travel Benefits
The Chase Sapphire Preferred offers a variety of travel benefits designed to enhance your experience while you’re on the go. These include:
Primary Rental Car Insurance: If you rent a car for business or leisure, the Chase Sapphire Preferred provides primary rental car insurance, which means it can cover damages before your personal car insurance kicks in.
Trip Cancellation/Interruption Insurance: If your travel plans are disrupted, this benefit helps you recover non-refundable travel expenses.
Baggage Delay Coverage: If your baggage is delayed by more than six hours, the card provides reimbursement for necessary expenses like clothing and toiletries.
Travel Accident Insurance: Provides coverage for accidents while traveling.
These benefits are a great way to safeguard your trips and provide peace of mind.
Chase Sapphire Preferred Travel Partners
One of the standout features of the Chase Sapphire Preferred is its access to Chase Ultimate Rewards travel partners. You can transfer your points to over 14 airlines and hotel partners, making your rewards even more valuable. Some notable Chase Sapphire travel partners include:
Airlines: United Airlines, Southwest Airlines, British Airways, Air France/KLM, Singapore Airlines, JetBlue
Hotels: World of Hyatt, Marriott Bonvoy, IHG Rewards Club
The ability to transfer points to these partners allows you to take advantage of frequent flyer programs, book international flights, or secure luxury hotel stays at a lower cost.
Chase Sapphire Preferred Hotel Credit and Hotel Benefits
The Chase Sapphire Preferred doesn’t offer a direct hotel credit like some premium cards. However, cardholders can earn valuable points when booking hotel stays through the Chase Ultimate Rewards portal. Points earned through this portal are worth 1.25 cents per point for travel redemptions.
Additionally, by transferring points to hotel partners like World of Hyatt or Marriott Bonvoy, you can maximize the value of your points and access special benefits like room upgrades and free nights.
Chase Sapphire Preferred Airline Partners
The Chase Sapphire Preferred works with numerous airline partners to give you flexibility when booking flights. Some of the top Chase Sapphire airline partners include:
United Airlines
Southwest Airlines
British Airways
Air France
Singapore Airlines
JetBlue
By transferring your points to these airline partners, you can often get better redemption rates and book flights on a variety of domestic and international routes.
Chase Sapphire Preferred Global Entry and TSA PreCheck
For those who travel internationally or domestically, the Chase Sapphire Preferred offers an excellent perk: reimbursement for Global Entry or TSA PreCheck application fees. After using your card to pay for the application fee (up to $100 for Global Entry or $85 for TSA PreCheck), you can enjoy faster airport security screening and expedited re-entry into the U.S. This is an incredibly valuable benefit for frequent travelers.
Chase Sapphire Preferred Cash Back
Although the Chase Sapphire Preferred is primarily a travel rewards card, you can still redeem points for cash back. However, the value of your points is maximized when redeemed for travel via the Chase Ultimate Rewards portal or transferred to travel partners. Cash back is an option if you’re looking for more flexibility in how you use your rewards.
Chase Sapphire Preferred Dining Rewards
For those who enjoy dining out, the Chase Sapphire Preferred offers 2x points on dining at restaurants, including takeout and delivery services. Whether you’re dining in your city or exploring new places while traveling, this category will help you earn valuable rewards on your culinary experiences.
Chase Sapphire Preferred Airbnb Bookings
The Chase Sapphire Preferred also allows you to earn points on Airbnb bookings. When you book through Chase Ultimate Rewards, you can earn the same 2x points on your stay at Airbnb properties or vacation rentals. While this is not an exclusive benefit to Airbnb, the flexibility to earn rewards on these types of stays makes the Chase Sapphire Preferred an excellent card for those who prefer unique accommodations.
Chase Sapphire Preferred Mileage and Miles Redemption
The Chase Sapphire Preferred allows you to earn miles in the form of Ultimate Rewards points. While these points aren’t miles in the traditional sense, they can be transferred to airline partners and used to book flights at a ratio of 1:1. This gives you the ability to accumulate valuable travel miles for flights, while still enjoying the benefits of a flexible rewards program.
Chase Sapphire Preferred Streaming Perks
Although the Chase Sapphire Preferred doesn’t offer a specific bonus for streaming services like Netflix or Spotify, cardholders can still earn points on these purchases. With 1 point per dollar spent on streaming services, the card allows you to earn rewards on your everyday entertainment subscriptions.
Chase Sapphire Preferred PreCheck and Miles
Chase Sapphire Preferred offers reimbursement for TSA PreCheck and Global Entry applications, which is a great travel perk for those who want to streamline their airport experience. The card also allows you to earn miles (in the form of Ultimate Rewards points) on your travel and everyday spending.
