Chase Sapphire Preferred Review | A Valuable Rewards Card for Travelers
Chase Sapphire Preferred® is one of the most versatile rewards credit cards available today, with so many ways to earn and redeem points.
Chase Sapphire Preferred CardRating: 3.95 out of 5 stars
Chase Sapphire Preferred® Card has a great welcome bonus and plenty of perks, all with a low $95 annual fee. It also participates in the popular and versatile Chase Ultimate Rewards® program.
Whether you’re a frequent traveler or only plan a few trips each year, you’ll find plenty of value in adding this Chase card to your wallet. If you have excellent credit this card is definitely worth looking into.
Best for Versatile Credit Card Rewards
Annual Fee: $95
Intro Offer/Welcome Offer: 100,000 bonus points
after you spend $4,000 on your card in the first three months from account opening
Intro APR: NA
Regular APR: 15.99% to 22.99%
Credit Score Requirements: Good to Excellent (670 - 850)
OUR RATING: 3.95
Why We Love the Chase Sapphire Preferred Credit Card
Chase Sapphire Preferred® is often touted as one of the best travel rewards credit cards on the market. That’s because of its near-perfect combination of an incredible welcome bonus and a laundry list of perks (with a lower annual fee than luxury cards).
Chase Sapphire Preferred also unlocks the door to Chase Ultimate Rewards®, the card issuer’s popular loyalty rewards program. Redemption options abound in the Ultimate Rewards® program, making it one of the most versatile programs around.
Chase Sapphire Preferred Card Benefits
100,000-point welcome bonus
Up to $50 in statement credits for grocery purchases your first year for a limited time
5x on travel booked through Chase Ultimate Rewards
3x points on online grocery purchases
2x points on dining purchases, including takeout and eligible delivery services
2x points on other travel purchases
1x points on other purchases
5X points on Lyft rides and Peloton equipment and accessories
12 months complimentary DoorDash DashPass
Chase Sapphire Preferred travel insurance
1:1 points transfer with 13 airline and hotel travel partners
How Do Chase Sapphire Preferred Points Work?
Every dollar spent with your Chase Sapphire Preferred® earns a certain number of points based on the transaction type. Those points are accessible through the Ultimate Rewards® program, where cardmembers can redeem bonus points for travel, gift cards, online shopping, dining, cash back, and statement credits.
Who the Chase Sapphire Preferred® Card Is Best for
Chase Sapphire Preferred® is perfect for most travelers. With its substantial sign-up bonus and access to the Ultimate Rewards® program, new cardmembers gain access to a bevy of travel redemptions. Because of its earning potential and versatility, this travel rewards card is even great for individuals who are starting out in the travel rewards universe.
Remember that the Chase Sapphire Preferred® annual fee is $95 and isn’t waived during the first year. The value you get is well worth the fee, but if you’re looking for a free introduction to earning rewards, there are plenty of no-fee travel rewards cards.
The Full Breakdown of the Chase Sapphire Preferred® Card
With Chase Sapphire Preferred® comes one of the best welcome bonuses you’ll find. It’s also one of the handful of Chase credit cards with access to the Chase Ultimate Rewards® program. That’s not the end of the travel credit card’s benefits, however:
As a travel rewards card with so many valuable perks, it’s understandable to pay an annual fee. At $95, the Chase Sapphire Preferred® annual fee isn’t waived the first year like many other rewards credit cards. Annual fees can often cut into the value a card provides, so consider how you’ll be using the card and whether the benefits outweigh the yearly fee.
Intro APR Offer
The Sapphire Preferred® card doesn’t come with an introductory 0% APR offer. Intro offers for new purchases or balance transfers are useful, especially if you want to pay off a balance over time without interest fees.
Chase Sapphire Preferred® comes with an ongoing variable APR between 15.99% - 22.99%, based on your creditworthiness.
One of the best features of Chase Sapphire Preferred® is its welcome bonus. New cardmembers can earn 100,000 bonus points when they spend $4,000 on the card within the first three months of opening the card. This incredible bonus is worth $1,250 towards travel when redeemed through Chase Ultimate Rewards®.
The welcome bonus is only available to new cardmembers and individuals who haven’t received a new cardmember bonus for any Sapphire card over the past 48 months.
Credit Score Requirements
To qualify for a Chase Sapphire Preferred® card, you’ll need a credit score between 670-850 (which is considered good to excellent credit).
If your credit doesn’t qualify you for a Sapphire Preferred® card, choose another card with less stringent requirements – or work to build your credit and apply later. You can boost your credit score by paying off your full balance each month (while avoiding costly late fees).
Point Conversion & Redemption
Spending with the Chase Sapphire Preferred® card earns Chase Ultimate Rewards® points which can be accessed through your online account or Chase’s mobile app.
Chase Ultimate Rewards® offers tons of flexibility when it comes to redemption options. You can redeem your points for flights, hotel stays, rental vehicles, vacation rentals, cruises, and travel experiences. You can book travel directly within Ultimate Rewards or transfer your points to one of Chase’s travel partners. Points transfer at a 1:1 ratio. Currently, there are 13 travel partners:
Aer Lingus, AerClub
British Airways Executive Club
Flying Blue AIR FRANCE KLM
Singapore Airlines KrisFlyer
Southwest Airlines Rapid Rewards®
Virgin Atlantic Flying Club
IHG® Rewards Club
World of Hyatt®
You can also redeem your bonus points for dining, statement credits, cash back, and gift cards or use them to shop on Amazon.com.
Besides earning valuable credit card rewards, the Chase Sapphire Preferred® card is packed with other useful perks. Some of the other benefits reserved for cardmembers include:
Trip cancellation/interruption insurance
Auto rental collision damage waiver
Extended warranty protection
Travel and emergency assistance services
Chase has also added additional limited-time perks to the Chase Sapphire Preferred® card through partnerships with the following companies:
DoorDash: Cardmembers get unlimited Dashpass deliveries with a $0 delivery fee and reduced service fees on qualifying orders over $12 for at least one year. To take advantage of this deal, you’ll need to activate this perk.
Peloton: Preferred cardmembers earn 5x points on the purchase of Peloton equipment and accessories through March 2022.
Lyft: Preferred cardmembers earn 5x points on Lyft rides now through March 2022.
Foreign Transaction Fees
You’ll never pay extra fees with Chase Sapphire Preferred® for purchases made when traveling outside of the US. The card comes with zero foreign transaction fees so it’s an excellent traveling companion for all of your international travel.
Your Chase Ultimate Rewards® bonus points never expire as long as your account remains open and in good standing. You’ll lose the balance of your bonus points if you (or Chase) decide to close the account for any reason.
Customer Service/Ease of Access
Chase Sapphire customers have several ways to receive support from the card issuer. Chase offers 24/7 phone support and you can also send secure messages from your online account, message the Chase Facebook page, or tweet @ChaseSupport on Twitter.
Chase customers also have access to its highly-rated mobile app where you can view your card balance and transactions, access your rewards, pay your bills, and more.
How the Chase Sapphire Preferred® Card Compares to Others
There’s so much to love about the Chase Sapphire Preferred® card, but it may not be right for everyone. Here’s a look at how it compares to other credit cards:
Chase Sapphire Preferred® vs Reserve®
Chase offers two Sapphire cards — Preferred and Reserve. Both cards are among the best travel rewards credit cards. But is Chase Sapphire Preferred® or Reserve® better?
Chase Sapphire Reserve® is considered a luxury credit card because of its extensive travel rewards, excellent perks, and its $550 annual fee. That alone is enough to scare away many travelers, but don’t overlook the array of benefits that come with it. Along with a 60,000-point welcome bonus, you’ll get even higher rewards rates on travel and dining purchases, as well as a $300 annual travel credit. Other travel perks include access to 1,300+ airport lounges worldwide.
If you travel extensively and think you’ll take advantage of the additional benefits, Chase Sapphire Reserve® may be the better value long-term.
Chase Sapphire Preferred® vs Capital One Venture®
Capital One Venture® is a travel rewards card that offers comparable benefits to Sapphire Preferred®. It features a similar annual fee ($95) and earns 60,000 bonus miles after you spend $3,000 in the first three months. Instead of varying rewards rates, every dollar spent with the Venture card earns unlimited 2x miles.
Like the Ultimate Rewards Program®, Capital One allows you to transfer miles to partner rewards programs. They currently have 15 travel partners:
Air Canada - Aeroplan
Air France & KLM - Flying Blue
Accor Live Limitless -ALL
Unlike the Preferred® card, the Capital One Venture® card includes a $100 credit for Global Entry or TSA Pre✓® Credit every four years. Besides that, both cards offer similar travel and purchase perks.
Chase Sapphire Preferred® vs. Freedom Unlimited®
If you want to avoid annual fees, Chase Freedom Unlimited® is an excellent no-fee cash back rewards card. Coming with a $200 welcome bonus (when you spend $500 on your card in the first three months), you’ll also earn elevated rewards rates on travel, dining, and drugstore purchases:
5% on travel purchased through Chase Ultimate Rewards®
3% on dining
3% on drugstore purchases
1.5% on all other purchases
Freedom Unlimited® comes with a 0% Intro APR offer for 15 months on purchases. Like the Preferred® card, you’ll also enjoy partner benefits with DoorDash and Lyft. It also includes some of the travel and purchase protections you get with Chase Sapphire Preferred®. The “better” card comes down to whether you want to pay an annual fee or not.
Is The Chase Sapphire Preferred® Credit Card Worth It?
Like most cards, Chase Sapphire Preferred® has benefits and drawbacks to consider.
Huge welcome bonus
Bonus rewards rates on travel and dining
No foreign transaction fees
$95 annual fee
Our Final Take on the Chase Sapphire Preferred® Credit Card
Chase Sapphire Preferred® is one of the most versatile rewards credit cards available today, with so many ways to earn and redeem points. Whether you’re a frequent traveler or only plan a few trips each year, you’ll find plenty of value in adding this Chase card to your wallet. Compare Chase Sapphire Preferred® to other credit card offers before making your decision, but it’s hard to go wrong with a card packed with so much value.
Table of Contents
- Best for Versatile Credit Card Rewards
- Why We Love the Chase Sapphire Preferred Credit Card
- Chase Sapphire Preferred Card Benefits
- Who the Chase Sapphire Preferred® Card Is Best for
- The Full Breakdown of the Chase Sapphire Preferred® Card
- How the Chase Sapphire Preferred® Card Compares to Others
- Is The Chase Sapphire Preferred® Credit Card Worth It?
- Our Final Take on the Chase Sapphire Preferred® Credit Card