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Chase Sapphire Preferred Card Review

Chase Sapphire Preferred Card Review

*Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Aug 14, 2018, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

Who the card is best for

The Chase Sapphire Preferred® Card is great for frequent travelers who want to get the most value for their points. The fact that you can earn 25% more in travel redemption value by redeeming rewards through the Chase Ultimate Rewards® portal is a unique way for you to maximize points. If you are a member of select frequent travel programs, you can benefit from a 1:1 point transfer. This allows you to accumulate points with your prospective program at a faster rate.

This card is targeted towards travelers, and therefore may not be a good option if you don’t travel often since you won’t earn the highest rate on everyday purchases. Also, since there is an annual fee of $95, people who want a no-fee card should look to other travel cards that may not have an annual fee.

  • 60,000 bonus points

  • 2X points on travel and dining

  • 1:1 point transfer to leading airline and hotel loyalty programs

Highlights
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • 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

See additional details for Chase Sapphire Preferred® Card

More Info

Where this card stands out in its category

This card has a great perk for cardholders who redeem for eligible travel at Chase Ultimate Rewards®. You get 25% more value when redeeming this way and can redeem for various travel purchases such as airfare and hotels. This can get you closer to covering the cost of a flight (or other eligible travel purchase) with only points.

Where this card falls short in its category

This card has an annual fee: $95. While it isn’t as high as some other travel cards that go up to $550, you can find other travel cards that don’t have an annual fee such as the Discover it® Miles, or even travel cards that have an annual fee but offer a rewards program that is more suited towards your spending habits.

Additional card benefits

The Chase Sapphire Preferred® Card offers many additional perks to benefit travelers:

  • 24/7 Customer Service: No matter where you are, you can access 24/7 customer representatives.
  • 1:1 transfer of points to partner frequent travel programs: For select frequent travel programs, you can transfer your points at a 1:1 rate. Participants currently include: British Airways Executive Club, Flying Blue AIR FRANCE KLM,  Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards®, United MileagePlus®, Virgin Atlantic Flying Club, IHG® Rewards Club, Marriott Rewards®, The Ritz-Carlton Rewards® and World of Hyatt.
  • 25% more in travel redemption: When you redeem your points for travel via Chase Ultimate Rewards®, you receive 25% more value. So, 60,000 points would be equal to $750 towards eligible travel including hotel, airfare, car rentals, and cruises.
  • Trip cancellation/trip interruption insurance: Pre-paid, non-refundable travel expenses such as passenger fares, tours and hotels can potentially be reimbursed up to $10,000 per trip when cancelled for select covered situations like sickness and severe weather.
  • Travel and emergency assistance services: If an issues arises when you travel, call a Benefit Administrator for legal and medical referrals and other issues.

How to use the card most effectively

To benefit the most from the Chase Sapphire Preferred® Card, use it for all dining and travel spending since you earn the highest rewards rate on those purchases — 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide. When traveling abroad, be sure to use this card since the foreign transaction fee is $0.

You get the most value for your points when you redeem via Chase Ultimate Rewards®. Receive 25% more value when you redeem points for travel this way, which is a great perk. Take advantage of the bonus and meet the requirements: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

Rewards breakdown

The Chase Sapphire Preferred® Card offers 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide. Points can be redeemed for travel, cash, gift cards and more. When redeemed for cash, 1 point equals $.01. When points are redeemed for travel via Chase Ultimate Rewards®, you earn 25% more — therefore, 1 point equals $.0125. Eligible redemption options with Chase Ultimate Rewards® include airfare, hotels, car rentals, and more.

Check out our Tips for Booking Travel on the Chase Ultimate Rewards Website.

You can also transfer points to participating frequent travel programs on a 1:1 rate. This means that 1 point with your Chase Sapphire Preferred® Card equals 1 point with a participating partner. The current partners are: British Airways Executive Club, Flying Blue AIR FRANCE KLM, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards®, United MileagePlus®, Virgin Atlantic Flying Club, IHG® Rewards Club, Marriott Rewards®, The Ritz-Carlton Rewards® and World of Hyatt.

There is a bonus where you can earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

Compare it with the Capital One® Venture® Rewards Credit Card

The Chase Sapphire Preferred® Card and Capital One® Venture® Rewards Credit Card are both travel cards with similar features. Both cards have an annual fee: Capital One® Venture® Rewards Credit Card at $0 intro for first year; $95 after that, Chase Sapphire Preferred® Card at $95.

  • One-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel

  • 2 Miles per dollar on every purchase, every day

  • Earn unlimited 10x miles on hotels when you pay with your Venture card at hotels.com/venture

Highlights
  • Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
  • Earn 2X miles on every purchase, every day. Plus earn 10X miles on thousands of hotels, through January 2020; learn more at hotels.com/venture
  • Named 'The Best Travel Card' by CNBC, 2018
  • Receive up to $100 application fee credit for Global Entry or TSA Pre✓®
  • Fly any airline, stay at any hotel, anytime; no blackout dates. Plus transfer your miles to over 12 leading travel loyalty programs
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • No foreign transaction fees
  • $0 intro annual fee for the first year; $95 after that

See additional details for Capital One® Venture® Rewards Credit Card

More Info

However, they differ in rewards rates: Chase Sapphire Preferred® Card offers 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide meanwhile Capital One® Venture® Rewards Credit Card offers a great flat-rate of 2 Miles per dollar on every purchase, every day. If you want to earn a consistent rate on all purchases, the Capital One® Venture® Rewards Credit Card may be a good choice. But, take note that you have more redemption options with the Chase Sapphire Preferred® Card, which allows you to transfer points to eligible frequent travel programs and earn 25% more in travel redemptions via Chase Ultimate Rewards®.

Ultimately, your decision depends on your spending habits and how you want to redeem your rewards.

Here are the key features of each card:

Chase Sapphire Preferred® Card Capital One® Venture® Rewards Credit Card
Annual Fee $95 $0 intro for first year; $95 after that
Purchase Intro Rate N/A N/A
Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater. $0
Regular Purchase APR 18.24% - 25.24% Variable 17.99% - 25.24% (Variable)
Rewards 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide 2 Miles per dollar on every purchase, every day
Sign Up Bonus Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. One-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
Foreign Transaction Fee $0 None

Bottom Line

The Chase Sapphire Preferred® Card is a great option for frequent travelers who want to maximize the value of their points. The 25% more in travel redemption you receive when redeeming at Chase Ultimate Rewards® is one of many ways you can see increased benefits with this card.

View our top picks for sign-up  bonus credit cards.


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