Chase Sapphire Preferred credit card review

Are you looking for a credit card that rewards you for everyday purchases and travel expenses? Look no further than the Chase Sapphire Preferred credit card. This top-rated rewards credit card offers a range of valuable benefits for frequent travelers, everyday spenders, and anyone looking to maximize their credit card rewards.

Whether you’re a seasoned traveler or just starting to explore the world, this card has something to offer you. With its generous sign-up bonus, earning rate, and an extensive list of perks, the Chase Sapphire Preferred card is a smart choice for anyone looking to save money on travel expenses or simply earn rewards on their everyday purchases.

With a reasonable annual fee and no foreign transaction fees, the Chase Sapphire Preferred card is a cost-effective choice for everyone.

Sign-up bonus

One of the most significant selling points of the Chase Sapphire Preferred Credit Card is its impressive sign-up bonus. New cardholders can earn 75,000 points after spending $4,000 in the first three months of card membership. This bonus alone is worth at least $1,500 in travel rewards when transferred to travel partners such as Hyatt. Here, you can read more about booking stays at Hyatt Hotels with points and transferring Chase Ultimate Rewards to the World of Hyatt Program.

Annual fee

The Chase Sapphire Preferred card has an annual fee of $95, which is easily covered by the DashPass alone ($96 annually) or primary car rental insurance. Plus, with no foreign transaction fees, this card is an excellent choice for international travelers.

Earning rate

Chase Sapphire Preferred Credit Card at a glance

🏝 – 5x points on travel purchased through the Chase Ultimate Rewards portal
🚗 – 5x points on Lyft rides
🍔 – 3x points for dining out
🍿 – 3x points on select streaming services and online grocery purchases
✈️ – 2x points on all other travel purchases, from airfare and hotels to taxis and trains
🛒 – 1x for everything else

In addition to the sign-up bonus, the Chase Sapphire Preferred card offers a generous earning rate that allows cardholders to rack up points quickly. With this card, you can earn rewards on a wide variety of purchases, including:

• 5x points on travel purchased through the Chase Ultimate Rewards portal: When you book your trip through the Chase Ultimate Rewards portal, you’ll earn 5 points for every dollar spent. This includes flights, hotels, car rentals, and more.
• 5x points on Lyft rides: As a cardholder, you’ll earn 5 points for every dollar spent on Lyft rides. This is a great way to earn rewards on your everyday transportation expenses.
• 3x points for dining out: When you dine out at restaurants, you’ll earn 3 points for every dollar spent. This includes everything from fast food to fine dining.
• 3x points on select streaming services and online grocery purchases: You’ll earn 3 points for every dollar spent on select streaming services and online grocery purchases. This is a great way to earn rewards on your everyday expenses.
• 2x points on all other travel purchases: From airfare and hotels to taxis and trains, you’ll earn 2 points for every dollar spent on all other travel purchases.
• 1x for everything else: For all other purchases, you’ll earn 1 point for every dollar spent.

Whether you’re traveling, dining out, or simply making everyday purchases, this card has you covered.

Benefits

In addition to the rewards and earning rate, the Chase Sapphire Preferred card offers a number of valuable benefits that can save cardholders money and make their travels more enjoyable. Some of these benefits include:

1. 1:1 points transfer to travel partners

As a cardholder, you’ll have the ability to transfer your points to a variety of travel partners (such as Hyatt) at a 1:1 ratio. This means that you can get even more value out of your points by redeeming them for flights and hotel stays.

To learn more, you can read our article about maximizing credit card rewards: cashback vs transferring to travel partners.

2. 25% more redemption value

When you redeem your points through the Chase Ultimate Rewards travel portal, you’ll get 25% more value. This means that your points are worth 25% more when you redeem them for travel, giving you even more value for your rewards.

For example, on the screenshot above, you need to spend 25% fewer points (35,500 vs 44,400) to redeem them for the night at this hotel.

Keep in mind that transferring your points to travel partners can often offer more value, so it’s worth comparing your options before making a decision.

3. Primary rental car insurance

One of the great travel benefits of the Chase Sapphire Preferred Card is its primary car rental insurance. This benefit allows you to decline the expensive collision damage waiver (CDW) insurance offered by car rental companies and instead charge the rental cost to your card. If the rental car is damaged or stolen, you can then file a claim with Chase for reimbursement, subject to the terms and conditions of the benefit. This can save you a lot of money on your car rental, as CDW insurance can be pretty expensive.

It’s worth noting that this benefit is only available for rentals made with your card and does not cover rentals made with rewards points or with an offer of free or discounted rental. However, it’s still a valuable benefit that can provide peace of mind and save you money on your travels.

4. Trip delay and cancellation insurance

Another valuable benefit offered by the Chase Sapphire Preferred card is trip delay and cancellation insurance. This coverage can help protect you in the event that your trip is delayed or canceled due to unforeseen circumstances such as weather, illness, or a family emergency.

5. Travel and emergency assistance services

This benefit provides cardholders with 24/7 access to a team of experts who can help with everything from booking flights to finding a doctor overseas.

6. Complimentary DashPass

As a cardholder, you’ll receive a complimentary DashPass membership (worth $96 annually), which provides discounted or free delivery on eligible orders from select restaurants through the DoorDash app.

7. Anniversary points boost

One of the unique benefits of the Chase Sapphire Preferred card is the anniversary points boost. Each year on your account anniversary, you’ll earn bonus points equal to 10% of your total purchases made in the previous year. This means that the more you use your card, the more rewards you’ll earn. This can help you rack up points even faster and get even more value out of your card.

8. No foreign transaction fees

The Chase Sapphire Preferred card has no foreign transaction fees, making it a great choice for international travel. You can use your card abroad without worrying about racking up additional fees on top of your purchases.

9. $50 in annual statement credits

As a cardholder, you can earn up to $50 in statement credits each account anniversary year for hotel stays purchased through the Chase Ultimate Rewards portal. This is a great way to save money on your travels and get even more value out of your card. Simply book your hotel stays through the portal, and you’ll automatically receive the statement credits on your account.

Application

Applying for the Chase Sapphire Preferred card is easy and can be done online. To be eligible for this card, applicants must have a good to excellent credit score (generally considered to be 700 or higher). It’s important to note that Chase has a 5/24 rule, which means that if you have opened five or more credit card accounts within the past 24 months, you may not be approved for this card. In addition to a good credit score, applicants must provide personal and financial information, including their employment and income details. The card will be mailed to the applicant within a few days if approved.

Bottom line

Overall, the Chase Sapphire Preferred Card is a fantastic choice for anyone who loves to travel and wants to earn rewards on their everyday spending. With its generous rewards program, travel benefits, and ability to transfer points to travel partners, it’s a card that can make your travels even more rewarding.

You can use our referral link to sign up for the Chase Sapphire Preferred Credit Card.

Non-affiliate disclosure: all information about the this card have been collected independently by On Points With Kids and has not been reviewed by the issuer.