Chase Sapphire Preferred® Card Review

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The card_name is one of my favorite intro travel cards out there, but not only because it is great as one of your first travel cards. Beginners and points pros alike will benefit from having a Chase Sapphire Preferred, which is why I strongly recommend it. It is currently, one of my favorite cards in my wallet.

Chase Ultimate Rewards® (the Chase Sapphire Preferred’s rewards currency) is amazing for its incredibly valuable transfer partners. This means that you are in luck whether you are looking for a convenient hotel stay, domestic economy flights, or business class to the Maldives. This review will help determine whether the Chase Sapphire Preferred card deserves a spot in your wallet.

Chase Sapphire Preferred Sign-Up Offer

I highly recommend the Chase Sapphire Preferred based on the earning potential from day-to-day spending written below and the incredible value available when transferring to its partners. However, the sign-up bonus is the icing on the cake that can single-handedly hundreds (if not more) worth of flights or hotels.

With every increasing grocery and restaurant prices, reaching the minimum spend of over three months should be manageable based on your typical day-to-day spending. However, it also may make sense to time your sign-up around a big purchase, such as if you need to purchase furniture for your apartment (what I am doing right now) or if you can charge tuition to your card.

Chase Sapphire Preferred Fees

With a low annual fee, the Chase Sapphire Preferred is easily justifiable given that you will recoup more than the fee in value each year for most people. This is certainly true for me, which is why I signed up for the card.

Additionally, remember that as long as you pay off your card on time and in full every month, the APR rate will not make a difference, as you will not carry a balance.

When planning for a trip overseas, many often forget about the importance of how you spend your money. Rather than pay fee after fee every time you swipe your card, having no foreign transaction fees on the Chase Sapphire Preferred can save a significant amount of money on any trip out of the country, whether it’s paying for drinks in Mexico or a spa day in Sweden.

Earning Chase Ultimate Rewards®

The Chase Sapphire Preferred is especially great for travel and dining purchases. This means that whether you go out for Sunday brunch with some friends or head to Vegas for a weekend, you will maximize every dollar you spend.

While travel purchased through Chase earns 5x points per dollar, even if you purchase directly with an airline or other travel provider, which can be as simple as public transit or parking, you will still earn 2x points per dollar.

There are no limits, spending caps, or minimums for earning points, which means that you will continue earning at these rates throughout the year no matter how much or little you charge to the card. You will be surprised at how quickly the points add up over several months.

Redeeming Ultimate Rewards®

The great thing about points redeemed from the Chase Sapphire Preferred through Chase’s portal is that you receive a 25% bonus in value. This means that each point is worth 1.25 cents rather than just 1 cent. You could redeem 10,000 Chase Ultimate Rewards® towards $125 in travel rather than just $100, which adds up significantly the more you redeem.

For me, the best thing about Chase Ultimate Rewards® is the flexibility available from transfer partners. On the one hand, you can transfer points to more commonly used airline loyalty programs in the U.S., such as United Mileage Plus, Southwest Rapid Rewards, and Hyatt Hotels and Marriott Hotels. On the other hand, Chase has an incredible list of foreign transfer partners such as British Airways Avios or Air Canada Aeroplan.

One of my favorite redemptions was transferring 8,000 UR to British Airways in addition to $5.60 in taxes and fees. I got an American Airlines ticket that allowed me to fly home from a trip with friends for a fraction of the $270 cash ticket price.

I also redeemed 5,000 points per night transferred to World of Hyatt to book a gorgeous beach resort in Bali, the Hyatt Regency Bali. Rather than pay hundreds per night, my 2-night stay was only 10,000 points.

Of course, if you are searching for luxury, you could transfer 60,000 UR to Aeroplan to book on Lufthansa or Swiss business class to Europe. This means you could fly on an otherwise multi-thousand-dollar ticket in the comfort of your lie-flat seats for a small fraction of the cost. 

Chase Sapphire Preferred Perks

No need to wait in line with statement credits towards TSA Precheck or Global Entry. All you need to do is charge the purchase of one of these services to your card, and you will receive a statement credit to cancel out the cost. I recommend getting Global Entry as it includes free TSA Precheck (but the other way around does not apply).

An often-overthought benefit of credit cards is the protection and insurance that come with using them. Unlike many debit cards, fraud protection will help protect you in case your card information is ever used to make purchases not authorized by you. Additionally, rental car insurance is fantastic if you ever need to rent a car.

If you can use the $50 hotel credit on a hotel you would have already otherwise booked, then it saves you $50, which brings down the effective annual fee. It is straightforward to use, and you just need to book a hotel through Chase’s online travel portal.

The Last Point

I have heard countless points pros refer to the card_name as one of the best travel cards out there, and I do not disagree. Maximizing your points earnings, whether traveling or going to dinner with friends, is a huge plus. Further, statement credits will help you save on travel while doing it in more comfort.

One of the biggest highlights is the incredibly valuable Chase Ultimate Rewards® points that you earn since they have such vast flexibility for use, whether it is for a local hotel with Hyatt or for flights to study abroad with United. The possibilities are endless, so day-to-day earnings are valuable in addition to the significant value you can get from the annual fee.