Chase Sapphire Preferred Credit Card

Best Travel Rewards Card

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Why People Love it

  • Ability to transfer rewards to airline miles or hotel points.
  • Earn double points on all travel and dining expenses.
  • Earn $625 towards travel (50,000) points when you spend $4,000 within 3 months.

Details

Application Process: An easy peasy online application. While browsing the finer details, you'll be able to compare this card's features with its closest competitor: The American Express Premier Rewards Gold Card.

Fees: $0 for the first year, with a $95 fee to use the card each year after. Luckily, because it's a travel credit card, there are no foreign transaction fees!

APR: No introductory offers: The Chase Sapphire Preferred Card starts with a variable APR between 16.99% to 23.99%.

Rewards: Redemption options are flexible. When you redeem them through Chase Ultimate Rewards, points are worth 25% more, meaning each point will actually be worth $1.25.

When redeeming travel rewards, you'll do so through the Chase Ultimate Rewards Travel center, where you can book your flights or hotels. You'll also be able to transfer your points to different airlines and hotels at a 1:1 ratio, meaning that you won't lose points in the process. Partner airlines include major airlines like Air France/KLM, British Airways, Korean Air, United, and Virgin Atlantic - and major hotel chains like Marriott, Hyatt, and Ritz-Carlton.

Statement credits and cash back can also be redeemed, but at a 1 cent to 1 point ratio.

Bonus Offers: Earn 50,000 rewards points for every $4,000 spent within the first three months of account opening. These points translate to $625 towards travel when redeemed using the Chase Ultimate Rewards program.

But that's not all! If you add an authorized user who makes a purchase within the first 3 months, you’ll earn an additional 5,000 points. Note: In order to redeem this deal, you can't have received a bonus from this Chase card or another Chase card over the past 24 months.

If you love to travel, this is the number one credit card you should be using to help fund your hobby. The Chase Sapphire Preferred card offers high rewards rates on travel and dining. And when it comes to actually redeeming these rewards, you'll be excited to find out that there are no blackout dates or travel restrictions when you redeem your miles through the Chase Ultimate Rewards travel portal.

You earn double points for all dining, and travel purchases to receive awards credit includes a wide scope: mass transportation, car rentals, parking, tolls and more. The rewards are earned in the Chase Ultimate Rewards program, which is considered by many to be one of the best credit card rewards programs.

Unfortunately, the Chase Sapphire Preferred Credit Card comes with an annual fee of $95. To offset this fee, you'd need to use the card to spend between $3,800-$7,600 during the year. So it's not a great choice for those who know their credit card spending will be way less than $10,000 per year.


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