The Chase Sapphire Preferred Credit Card
In the vast world of credit cards, the Chase Sapphire Preferred card offers a unique blend of benefits, rewards, and flexibility that cater to both seasoned travelers and everyday spenders. If you're looking to elevate your credit card game and unlock premium rewards, you're in the right place. In this comprehensive review, we'll explore its key features, rewards program, benefits, and how it stacks up against the competition.
Chase Sapphire Preferred Snapshot
The Chase Sapphire Preferred Card, often referred to as the CSP, is a premium travel rewards credit card issued by JPMorgan Chase. It's designed for individuals with good to excellent credit scores who are looking for a card that offers an array of travel benefits, rewards, and ultimate flexibility in how they redeem their points.
Key Features:
Signup Bonus: The card typically comes with an attractive signup bonus, often in the form of a substantial number of Ultimate Rewards points. This is a great way to kickstart your rewards journey. For the most updated sign up bonus please use our affiliate link! This supports us as well as gives you a major sign up bonus!
5x points on Hotels & Car Rentals booked through the Chase Ultimate Rewards Portal
Points are worth 25% more when redeemed through the Ultimate Rewards Travel Portal
2x Points on Travel: One of its standout features is the earning structure. You'll earn 2x points on travel (airfare, hotels, car rentals, etc.)
3x Points on Dining and dining (restaurants, cafes, bars, etc.) worldwide, making it an excellent choice for globetrotters and food enthusiasts.
3x Points on Select Streaming Services (hulu, peacock, netflix, etc.)
1x Point on All Other Purchases: While the card's focus is on travel and dining, you'll still earn 1x points on all other purchases, ensuring that you accumulate rewards even when you're not traveling or dining out.
$50 Annual hotel travel credit: Chase will reimburse you for the first $50 you spend on hotels in an anniversary year.
Transfer Partners: Chase has a vast network of transfer partners, including airlines and hotel chains. This means you can convert your Ultimate Rewards points into airline miles or hotel points, providing incredible value when you redeem for premium travel experiences. Click here for a link to all of Chase’s Transfer Partners.
Travel Protection: The CSP offers a suite of travel protections, including trip cancellation/interruption insurance, rental car insurance, and more, adding an extra layer of security to your journeys.
2. The Chase Sapphire Preferred Rewards Program
Ultimate Rewards Points: The currency of the CSP is Ultimate Rewards (UR) points, and these points are incredibly versatile.
Earning Points: As mentioned earlier, you'll earn 5x points in the travel portal on hotels and car rentals, 3x points on dining, 2x points on travel and 1x point on all other purchases. There are no caps on the points you can earn, so the more you spend, the more you accumulate.
Redemption Options: UR points can be redeemed in several ways, including:
Travel through the Chase Ultimate Rewards Portal: You can use your points to book flights, hotels, rental cars, and other travel-related expenses directly through Chase's portal. Your points are worth 25% more when redeemed this way, giving you extra value.
Transfer to Travel Partners: Perhaps the most lucrative option is transferring your UR points to Chase's list of travel partners, including airlines like United, Southwest, and British Airways, as well as hotel chains like Hyatt and Marriott. This unlocks access to premium flights and stays that can offer tremendous value.
Cash Back: If you prefer cash back, you can redeem your points for statement credits, a direct deposit into your bank account, or gift cards. However, keep in mind that this option doesn't maximize your points' value.
Pay with Points: You can also use your UR points to pay for everyday purchases at a variety of online retailers.
3. The Chase Sapphire Preferred's Annual Fee
The CSP comes with an annual fee, which is something potential cardholders should consider. At the time of writing, the annual fee for the Chase Sapphire Preferred Card is $95, this is reasonable compared to other premium travel cards. However, it's essential to evaluate whether the card's benefits and rewards outweigh this cost for your specific spending habits and travel preferences.
4. The Chase Sapphire Preferred Card's Signup Bonus
The CSP often features an enticing signup bonus, which can vary over time. To qualify for the bonus, you typically need to meet a minimum spending requirement within the first few months of card membership. This bonus can provide a significant boost to your Ultimate Rewards points balance, making it an excellent time to apply for the card if you have planned expenses.
5. Chase Sapphire Preferred Card Benefits
Travel Protections: As mentioned earlier, the CSP provides robust travel protections, including trip cancellation/interruption insurance, trip delay reimbursement, and baggage delay insurance. These protections can save you money and provide peace of mind during your travels.
No Foreign Transaction Fees: If you're a frequent international traveler, this feature can save you a substantial amount of money. Many credit cards charge foreign transaction fees, but the CSP is not one of them.
Purchase Protection: The CSP includes purchase protection, which can be invaluable if an item you've purchased is damaged or stolen within a specified timeframe after purchase.
Extended Warranty: This benefit extends the manufacturer's warranty on eligible items, offering additional protection on your purchases.
6. Comparing the Chase Sapphire Preferred Card to Competitors
While the Chase Sapphire Preferred Card offers a compelling mix of rewards and benefits, it's essential to consider how it stacks up against its competitors. Here are a few points to consider:
Chase Sapphire Reserve: If you're a frequent traveler who values premium perks like airport lounge access, the Chase Sapphire Reserve might be a better fit, albeit at a higher annual fee. It offers a similar earning structure but with enhanced benefits.
American Express Gold Card: The Amex Gold Card is an excellent alternative for those who dine out frequently. It offers 4x Membership Rewards points on dining at restaurants worldwide, making it a strong contender for foodies.
Capital One Venture X Rewards Credit Card: The Capital One Venture Card offers 2x miles on all purchases, and you can redeem miles as a statement credit against travel purchases.
The Chase Sapphire Preferred Credit Card is a versatile and rewarding option for those seeking a premium travel credit card. With a robust rewards program, an attractive signup bonus, and a range of valuable benefits, it caters to both avid travelers and everyday spenders. However, it's crucial to assess your own spending habits, travel preferences, and financial goals to determine if this card aligns with your needs. If it does, you'll find that the Chase Sapphire Preferred Card can be a valuable tool in your financial arsenal, opening the door to a world of premium rewards and unforgettable travel experiences.
If you would like to apply for the card today you can do so at the Chase Sapphire Preferred Application Link