Despite increasing competition in the travel rewards sector, we believe the Chase Sapphire Preferred® Card is still one of the best premium travel rewards credit cards on the market. Here’s our full Chase Sapphire Preferred® Card review.
Chase Sapphire Preferred® Card
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
- Enjoy benefits such as 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, and 2x on all other travel purchases, and $50 annual Ultimate Rewards Hotel Credit, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
- Member FDIC
| Annual Fee | Intro APR | Regular APR | Credit Needed |
| $95 | N/A | 21.49% - 28.49% Variable | Excellent/Good |
Overview
The Chase Sapphire Preferred® Card is a premium travel rewards credit card (it’s made of metal, not plastic!) that earns 5X points on travel purchased through Chase Ultimate Rewards, 3X points on dining, 2X points on all other travel purchases, and 1 point per $1 spent on everything else.
The card carries a $95 annual fee.
Money Under 30 recommends the Chase Sapphire Preferred® Card to consumers who want to maximize the value of their credit card rewards by booking travel through Chase Ultimate Rewards or transferring points to airline and hotel partners. Anyone who can take advantage of the generous sign-up bonus should also consider this card. New cardmembers can earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Other benefits of carrying the Chase Sapphire Preferred® Card include global access to a 24/7 concierge line and no foreign transaction fees—a must if you’ll take card abroad.
Earning Rewards
With the Chase Sapphire Preferred® Card, you earn 5X points on travel purchased through Chase Ultimate Rewards, 3X points on dining, 2X points on all other travel purchases, and 1 point per dollar spent on all other purchases.
From shopping to restaurants to hotel stays to your morning Starbucks, the Chase Sapphire Preferred® Card will give you double points. The official list of travel purchases that will earn double points includes:
Airlines, hotels, motels, timeshares, campgrounds, car rental agencies, cruise lines, travel agencies, discount travel sites, passengers trains, buses, taxis, limos, ferries, tolls, bridges, highways, and parking lots/garages.
The Chase Sapphire Preferred® Card is a good pick for sophisticated travelers because of what you can do with your rewards and because the Chase Sapphire Preferred® Card earns Chase Ultimate Reward Points. Although you can redeem these points many different ways, you have the option of transferring Chase Ultimate Rewards Points to leading airline and hotel loyalty programs at a 1:1 ratio. This cuts down on the number of cards you need to carry to get rewards on every purchase that can be used toward your preferred travel award.
Redeeming Rewards
Chase Ultimate Rewards is Chase’s premium rewards program. In addition to exchanging points for gift cards and cash, you make your points go further by booking travel directly through Chase Ultimate Rewards or exchanging points for miles or points with partner airlines and hotel chains.
If you’re just looking to redeem credit card rewards for cash or gift cards, a no-annual-fee cash-back credit card is a better bet. If you know what you’re doing, however, your credit card points will go further with a travel rewards card like Chase Sapphire Preferred®.
If, for example, 25,000 points earns you $250 in rewards on a cash back card—a value of one penny per point—the same 25,000 points might get you a plane ticket or hotel stay worth much more when you use the Chase Sapphire Preferred® Card.
The Chase Sapphire Preferred® Card earns Chase Ultimate Rewards points that can be redeemed 1:1 for airline and hotel partners including:
- British Airways
- Hyatt
- IHG
- Korean Air
- Marriott
- Singapore Airlines
- Southwest Airlines
- Ritz-Carlton
- United Airlines
- Virgin Atlantic
Even if you don’t transfer points to partners, you can get 25 percent more value when you redeem points for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel (or $600 in cash). Booking through Chase Ultimate Rewards is just like reserving through Expedia or another booking site. And, unlike using frequent flyer miles earned with a specific airline, there are no blackout dates or travel restrictions when booking through Chase—as long as there’s a seat on the flight, you can book it through Chase Ultimate Rewards®.
If you’re serious about maxing out your credit card points, consider using another Chase card along with the Chase Sapphire Preferred® Card together. Points earned can be transferred to your Chase Sapphire Preferred® Card account (and later to airline/hotel partners).
Sign-up Bonus
You will earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Among the top credit card sign-up bonuses, the Chase Sapphire Preferred® Card is easily one of the most generous. The only downside is that amount is a lot to spend in the noted period if you don’t regularly spend that much or weren’t already planning on a large purchase.
Rates and Fees
| Chase Sapphire Preferred® Card | |
|---|---|
| Highlights | – Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
– 5X points on travel purchased through Chase Ultimate Rewards, 3X points on dining, 2X points on all other travel purchases, and 1 point per dollar spent on all other purchases. |
| Annual Fee | $95 |
| Intro APR – Purchases | N/A |
| Intro APR – Balance Transfers | N/A |
| Balance Transfer Fee | Either $5 or 5% of the amount of each transfer, whichever is greater. |
| Regular APR | 21.49% - 28.49% Variable |
| Cash Advance APR | 29.99% Variable |
| Foreign Transaction Fee | N/A |
Pros & Cons
Pros
- Valuable Rewards on All Purchases — 5X points on travel purchased through Chase Ultimate Rewards, 3X points on dining, 2X points on all other travel purchases, 1x point per dollar spent on everything else.
- Great Sign-up Bonus — Receive 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
- Earn Flexible Rewards — Reward points can be redeemed for travel reservations or transferred to airlines and hotels.
Cons
- High Annual Fee — There’s a $95 annual fee for this card.
- Fewer Travel Options — The Chase Ultimate Rewards Travel Center no longer offers tickets on several discount airlines.
Review Summary
If you fly at least a few times a year and enjoy earning credit cards rewards in the form of free travel, the Chase Sapphire Preferred® Card is a great card to increase the value of your points from one cent per point to up to five cents per point.
That said, with a $95 annual fee, the Sapphire Preferred® Card may not be for everyone. If you’re looking for a simpler, more straightforward rewards system—or you want a card without an annual fee—look for a cash-back card without an annual fee.
And remember, if you’re new to the Chase Sapphire Preferred® Card, you can earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Learn more or apply for the Chase Sapphire Preferred® Card now.