Chase Sapphire Preferred Card

Bottom Line: The Chase Sapphire Preferred® Card is a top-tier travel rewards card that offers a generous sign-up bonus, flexible earning categories, and valuable redemption options, making it an excellent choice for travelers looking to maximize their rewards. With its 2X points on travel and dining, low annual fee, and access to premium travel benefits, it provides great value for those who want to earn and redeem points toward unforgettable travel experiences.

At a glance

	Chase Sapphire Preferred
Annual Fee	– $95
Sign-up Bonus	– Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 toward travel when you redeem through Chase Ultimate Rewards®.
Ongoing Rewards	– 5 points per $1 spent on all travel purchased through Chase Ultimate Rewards®. – 3 points per $1 spent on dining (including eligible delivery services and takeout). – 3 points per $1 spent on select streaming services. – 3 points per $1 spent on online grocery purchases (not including Target, Walmart and wholesale clubs). – 2 points per $1 spent on travel not purchased through Chase Ultimate Rewards®. – 1 point per $1 spent on other purchases. – Through March 2025: 5 points per $1 spent on eligible Peloton purchases (with a maximum earning of 25,000 points) and on Lyft.
Foreign transaction fee	– None.
APR	– The ongoing APR is 21.49%-28.49% Variable APR.
Value of points redeemed through chase rewards	– 1.25 cents
Additional benefits	– A $50 annual credit on hotel stays purchased through Chase Ultimate Rewards®. – Each account anniversary, cardmembers will earn bonus points equal to 10% of total purchases made the previous year. – Hotel and airline transfer partners. – Primary rental car coverage.
Limited time offers	– Through March 31, 2025, earn 5 points per dollar spent on eligible Lyft purchases. – Get complimentary access to a DashPass membership, which offers $0 delivery fees and lower service fees on eligible orders for a minimum of one year when you activate by Dec. 31, 2024. – Get 6 months of complimentary Instacart+ and $15 in statement credits each quarter when you activate by July 2024. – Receive a $10 monthly statement credit from GoPuff through Dec. 31, 2023. Terms apply.

Introduction to the Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card is widely regarded as one of the best travel rewards credit cards on the market. Offering a robust rewards program, flexible redemption options, and a generous sign-up bonus, this card has earned its place among the top choices for frequent travelers and those looking to maximize their points.

With its low annual fee compared to premium travel cards, a strong earning rate on travel and dining, and the ability to transfer points to airline and hotel partners, the Chase Sapphire Preferred® Card provides great value. In this guide, we’ll dive into the card’s features, how to use it to its full potential, and how it compares to other travel rewards cards.

Key Features of the Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card offers a wide range of features that make it a go-to choice for those who enjoy earning rewards while traveling. Here’s a breakdown of the most important features:

1. Sign-Up Bonus

One of the standout features of the Chase Sapphire Preferred® Card is its impressive sign-up bonus. New cardholders can earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening. These points are worth $750 when redeemed for travel through the Chase Ultimate Rewards® program, making it a lucrative start for new cardholders.

2. Earn 2X Points on Travel and Dining

With the Chase Sapphire Preferred® Card, you’ll earn 2X points on travel and dining purchases. This makes the card a fantastic option for those who spend a significant amount on these categories. From booking flights and hotel stays to dining out or ordering food delivery, every dollar spent in these categories will earn double points.

3. 1X Points on All Other Purchases

For every purchase outside of the travel and dining categories, you’ll earn 1X point per dollar. While this rate is standard, it still adds up over time, especially if you’re using the card for everyday expenses like groceries, entertainment, or shopping.

4. Annual Fee

The Chase Sapphire Preferred® Card has an annual fee of $95, which is relatively low compared to many other premium travel rewards cards. This makes it an excellent option for those who want to earn premium travel rewards without the high cost of some other cards that charge hundreds of dollars in annual fees.

5. No Foreign Transaction Fees

When traveling internationally, you’ll appreciate that the Chase Sapphire Preferred® Card does not charge foreign transaction fees. Many cards tack on a 3% fee for purchases made outside the U.S., but this card allows you to spend abroad without extra costs.

6. Access to Chase Ultimate Rewards®

One of the key advantages of the Chase Sapphire Preferred® Card is the ability to earn Ultimate Rewards® points, which are incredibly versatile. You can use your points for travel bookings through Chase Ultimate Rewards®, or you can transfer them to Chase’s travel partners at a 1:1 ratio. Chase partners include major airline and hotel brands like United Airlines, Southwest Airlines, Hyatt, Marriott, and many others.

7. Travel and Purchase Protection Benefits

The Chase Sapphire Preferred® Card comes with several built-in protections, including:

• Trip cancellation/interruption insurance
• Auto rental collision damage waiver
• Travel accident insurance
• Baggage delay insurance
• Purchase protection and extended warranty coverage

These benefits can save you money and provide peace of mind while traveling and making purchases with your card.

8. Redeem Points for Travel, Cash Back, or Gift Cards

When it comes to redeeming your points, Chase offers a variety of options. While the most valuable redemption is through travel bookings, you can also use your points for cash back, gift cards, or even merchandise. If you redeem your points for travel through the Chase Ultimate Rewards® program, your points are worth 25% more (e.g., 60,000 points = $750 toward travel).

How to Redeem Points with the Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card offers several ways to redeem your points, but the most valuable way to use them is for travel through the Chase Ultimate Rewards® portal. Here’s a closer look at how to get the most out of your points:

1. Book Travel Through Chase Ultimate Rewards®

When you book travel (flights, hotels, car rentals, cruises, etc.) through the Chase Ultimate Rewards® portal, your points are worth 25% more. For example, 60,000 points would be worth $750 in travel through the portal, which is a better redemption rate than other methods.

2. Transfer Points to Travel Partners

If you’re looking to maximize the value of your points, you can transfer them at a 1:1 ratio to over 13 airline and hotel partners, including:

• United Airlines
• Southwest Airlines
• American Airlines
• Hyatt Hotels
• Marriott Hotels

Transferring points to these partners can provide even more value, especially if you book through their loyalty programs and take advantage of promotional offers.

3. Cash Back, Gift Cards, and Merchandise

While redeeming for travel is the best option, you can also redeem your points for cash back (1 cent per point), gift cards, or merchandise. These options tend to offer less value compared to travel redemptions, but they can be useful in a pinch.

4. Pay with Points

Chase also allows you to use your points directly to pay for purchases at select merchants. This feature works similarly to a statement credit but can be less valuable in terms of the redemption rate.

Chase Sapphire Preferred® Card vs. Other Travel Cards

How does the Chase Sapphire Preferred® Card stack up against other popular travel rewards cards? Let’s compare it to two of its closest competitors:

Chase Sapphire Preferred® vs. Capital One Venture Rewards Credit Card

• Sign-Up Bonus: The Chase Sapphire Preferred® offers 60,000 points (worth $750 in travel) after spending $4,000 in the first 3 months. The Capital One Venture Rewards Credit Card offers 75,000 miles (worth $750 in travel) after spending $4,000 in the first 3 months.
• Earning Rate: The Chase Sapphire Preferred® earns 2X points on travel and dining and 1X point on other purchases. The Capital One Venture Rewards Credit Card earns 2X miles on every purchase, making it simpler but less rewarding for travel and dining spending.
• Annual Fee: Both cards charge an annual fee of $95, which is reasonable for the rewards and benefits offered.
• Redemption: Chase offers 25% more value when you redeem points for travel through the Ultimate Rewards® portal, while Capital One provides straightforward 1 cent per mile toward travel purchases.

Chase Sapphire Preferred® vs. American Express Gold Card

• Sign-Up Bonus: The Chase Sapphire Preferred® offers 60,000 points, worth $750 in travel. The American Express Gold Card offers 60,000 Membership Rewards® points after spending $4,000 in the first 6 months, which can also be transferred to travel partners.
• Earning Rate: The American Express Gold Card earns 3X points on dining (including takeout and delivery), and 2X points on travel, while the Chase Sapphire Preferred® earns 2X points on both travel and dining.
• Annual Fee: The American Express Gold Card charges a higher $250 annual fee compared to the Chase Sapphire Preferred®’s $95 fee.
• Redemption: Both cards allow you to transfer points to travel partners. The Chase Sapphire Preferred® offers a better overall value if you book travel through the Ultimate Rewards® portal due to the 25% boost in point value.

Who Should Consider the Chase Sapphire Preferred® Card?

The Chase Sapphire Preferred® Card is ideal for:

• Frequent Travelers: If you travel often and want to earn points on both travel and dining, this card’s rewards structure is perfect for you.
• People Who Value Flexibility: With the ability to transfer points to top airline and hotel partners, as well as use points for a variety of travel-related expenses, this card offers unparalleled flexibility.
• Those Who Want Travel Protections: The Chase Sapphire Preferred® Card’s suite of travel protections, including trip cancellation insurance and rental car collision coverage, makes it a great option for peace of mind on your trips.
• Budget-Conscious Travelers: With its low annual fee of $95, the Chase Sapphire Preferred® Card offers excellent value for frequent travelers without the hefty cost of premium cards.

Final Thoughts on the Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card is one of the best travel credit cards for those who want to earn valuable points on travel, dining, and everyday purchases. With a generous sign-up bonus, versatile earning categories, and a wide range of redemption options, this card provides exceptional value for frequent travelers and those looking to maximize their points.

Whether you’re booking travel through the Chase Ultimate Rewards® portal, transferring points to travel partners, or enjoying the travel benefits, the Chase Sapphire Preferred® Card offers an all-around great experience. With its low annual fee, robust rewards, and outstanding flexibility, it’s easy to see why this card is considered one of the best in the industry.

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