Popular among the jet-setting crowd, the Chase Sapphire Preferred offers a massive sign-up 60,000 point bonus. With only a $95 annual price tag, it offers some of the sweetest travel perks to rival some of the more premier travel rewards cards.
Chase Sapphire Preferred
CURRENT WELCOME BONUS
60,000 bonus points after spending $4,000 during first 3 months
Earn 2X points for every $1 spent on travel & dining; 1X point on everything else
15.99% – 22.99%
FOREIGN TRANSACTION FEE
RECOMMENDED CREDIT SCORE
670 – 850
Chase Sapphire Preferred is best for…
The Chase Sapphire Preferred Credit Card is for people who travel quite a bit. That’s because you will get the most bang for your buck when you spend on travel. It’s even better if you book directly through Chase Ultimate Rewards. Points are worth an extra 25% more in value. Frequent diners can also benefit by getting 2X points earned on dining, however, there are much better cards that offer a higher rate. For instance, the American Express Gold Card offers 4X points at restaurants worldwide. Finally, the Sapphire Preferred is best for people with great/excellent credit who don’t already have a premium travel rewards card.
The Welcome Bonus
Currently, new members will receive a sizeable 60,000 bonus points after spending $4,000 during the first 3 months of account opening. In short, just spend at least $1,334 a month on travel and dining for at least 3 months and receive the bonus. According to Chase, that’s worth over $750 when redeemed for travel through Chase Ultimate Rewards. Furthermore, trade those miles for, say United MileagePlus, and your bonus could be worth over $1,000. You’ll also earn up to $50 in statement credits towards grocery store purchases when you spend at least $50 within the first year.
Sapphire Preferred Points & Rewards
Fortunately, the travel category defined by Chase is pretty broad. Not only does it include the usual airfare and hotel, but also timeshares, camping, public transportation, cruises etc. This card also offers a respectable 2X points per $1 spent on dining, which includes everything from restaurants, fast food places, delivery & takeout and pretty much everything in between. All other purchases get 1X points, so even if you are not a frequent traveler but spend a lot on everyday purchases, this card can work for you. Points never expire as long as your account remains open.
One of the best things about the Sapphire Reserve is the flexibility offered when redeeming points. Obviously, you will get best value when using them to purchase travel through the Ultimate Rewards portal. But points can also be used for gift cards, Apple & Amazon purchases, cash back etc.
Members of frequent travel programs can also transfer points on a 1:1 value to Chase’s 13 airline & hotel partners. Again, United Mileage Plus will give you one of the best values for your points.
▪ Primary Rental Car Collision Insurance
▪ Trip Cancellation/Interruption Insurance
▪ Unlimited DoorDash Deliveries
▪ $60 Credit on Peloton Membership through 12/2021
▪ 5X points on Lyft rides through 03/2022
The Sapphire Preferred’s massive welcome bonus, good reward structure and flexible redemption make for an excellent travel card. Like most reward credit cards, it does come with an annual fee of $95, but frequent travelers shouldn’t have a problem offsetting it. We wouldn’t recommend this card for balance transfers, as it carries a hefty fee for transfers. It also doesn’t come with a credit for Global Entry/TSA Pre✓, a perk provided by most reward cards with a similar fee, such as the Capital One Venture Card.
But all in all, the Chase Sapphire Preferred is pretty solid and can be a great addition to any Jetsetter’s wallet!!
Chase has a 5/24 rule, which means you won’t get approved for a credit card if you have been approved for 5 credit cards within 24 months.