Best for Flexible Redemption

Chase Sapphire Preferred®

Chase Sapphire Preferred®

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On Card Issuer’s Secure Website
  • It offers a large signup bonus compared with similar cards
  • You'll get a rewards boost if you use your points to book travel through Chase
  • Redeem points for airlines and hotels, without being tied to any specific companies
Card attributes
Highlights
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel.
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

Our Detailed Review

  • You can use points to book travel through Chase, get cash back or gift cards, or transfer them to one of Chase's travel partners
  • The card is metal instead of plastic
  • You'll get premium travel protections
  • The card's base rewards rate is mediocre
  • It charges an annual fee
Details

Application Process: Online, through Chase.

Rewards: Earn 2X points on travel and dining purchases worldwide, and 1 point per dollar spent elsewhere.

Bonus Offers: Earn 50,000 rewards points for every $4,000 spent for the first three months, which is $625 towards travel when redeemed through the Chase Ultimate Rewards program. If you add an authorized user who makes a purchase within the first 3 months, you’ll earn an additional 5,000 points.

Annual Fee: $0 for the first year, then $95.

APR: 17.74% - 24.74% variable.

 

Faveable Review

The Chase Sapphire Preferred® is a favorite among travel enthusiasts, and there are plenty of reasons why.

In addition to a massive sign-up bonus, the card offers a suite of travel perks and protections, flexible redemption options, and a way to transfer your rewards to your favorite airline and hotel brands.

Read on to learn more about what makes this card so special and whether it’s right for you.

Chase Sapphire Preferred® review

The Chase Sapphire Preferred® is a general travel credit card that offers 1 point per dollar spent on all of your purchases, plus double points when you spend money on travel and dining.

The card also has a great sign-up bonus: Earn 50,000 points when you spend $4,000 in the first three months with the card. That’s worth $625 if you use your points to book travel through Chase Ultimate Rewards.

You’ll get an extra 5,000 points if you add an authorized user and make just one purchase in the same three-month period.

The card also offers various benefits for occasional and frequent travellers alike, but all of these perks and rewards come at a cost: the card charges an annual fee of $0 the first year, then $95 after that.

Chase Sapphire Preferred® rewards and perks

As we’ve already mentioned, the card’s sign-up bonus is worth $625 if you use your points to book travel through Chase’s Ultimate Rewards platform. That’s because you get 25% more value if you redeem your points this way.

That said, you can also redeem your points for cash back at a rate of one cent per point. Or you can potentially get even more value by transferring your points to one of Chase’s airline and hotel partners, including:

  • Aer Lingus AerClub
  • British Airways Executive Club
  • Flying Blue AIR FRANCE KLM
  • Iberia Plus
  • Korean Air SKYPASS
  • Singapore Airlines KrisFlyer
  • Southwest Airlines Rapid Rewards
  • United MileagePlus
  • Virgin Atlantic Flying Club
  • IHG® Rewards Club
  • Marriott Rewards
  • The Ritz-Carlton Rewards
  • World of Hyatt

How much value you get out of your points after you transfer them can vary, depending on the loyalty program you choose and how you redeem.

Maximize your rewards by using the card every time you travel and eat out, and don’t forget the authorized user bonus when you first get your card.

Chase Sapphire Preferred® benefits

On its own, the card’s rewards program is one of the best on the market today. But there’s plenty more to get excited about for avid travellers.

For starters, the card doesn’t charge a foreign transaction fee, which means that you can use the card internationally and not have to worry about getting dinged for a 3% fee every time you swipe.

Another standout benefit is the card’s primary rental car insurance. Most cards offer secondary insurance, which means that if you get in an accident with your rental car, you have to first file a claim with your personal insurance policy back home.

Then your credit card’s coverage will make up for whatever your personal policy doesn’t cover.

With primary coverage, however, you just file a claim with the credit card policy administrator and that’s it. Just be sure to use the Chase Sapphire Preferred® to pay for the full car rental to get the benefit.

Other benefits that the card offers include:

  • Trip cancellation or interruption insurance
  • Trip delay reimbursement
  • Baggage delay insurance
  • Travel and emergency assistance
  • Purchase protection
  • Extended warranty protection

Chase Sapphire Preferred® costs

As we’ve already mentioned, the card has an annual fee of $0 the first year, then $95 after that. That’s not bad considering the value you’re getting in return. It’s especially a good choice for that first year.

The card also charges no foreign transaction fees. Its interest rate, however, is on the high end. Depending on your creditworthiness, it could be up to the mid-20% range.

As usual, we recommend avoiding interest altogether by paying off your credit card bill in full each month.

Does the Chase Sapphire Preferred® make sense for me?

The card provides all types of cardholders with value, especially if you’re the type who wants to squeeze as much value out of your rewards as possible.

But the Chase Sapphire Preferred® isn’t perfect. Its base rewards rate, for example, is low compared to some of the other top travel credit cards. And its annual fee may be hard to stomach for some people.

So, as you’re considering this card, be sure to compare it with some of the other travel credit cards on the market. Take a look at its rewards, perks, and travel benefits to see if it’s worth the cost. Then compare it to similar cards that may or may not charge an annual fee.

This process can take time, but it’s well worth it to find the right credit card for your needs.

 

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