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Chase Sapphire Preferred Card Review

Chase Sapphire Preferred Card Review

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This article was last updated Oct 03, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

If you’re a frequent traveler who wants to earn an influx of rewards to use toward free travel, the Chase Sapphire Preferred® Card is an ideal choice. The card lets you earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s worth $750 when redeemed for travel through Chase Ultimate Rewards®. Plus, cardholders earn 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide.

  • 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

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Along with redeeming points for cash, gift cards, travel, and products and services, Chase Sapphire Preferred® Card holders can transfer points to a variety of travel transfer partners at a rate of 1:1.

Although the Chase Sapphire Preferred® Card charges an annual fee of $95, the value you can get from the card’s sign-up bonus and rewards rate more than makes up for the cost.

In this review, we’ll break down the pros and cons of the Chase Sapphire Preferred® Card, as well as show how it compares to the Capital One® Venture® Rewards Credit Card.

Where the Chase Sapphire Preferred® Card stands out

Sign-up bonus. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Each point is valued at 1 cent ⁠— making the sign-up bonus worth $600.

25% boost in rewards value. When you redeem your points for travel through Chase Ultimate Rewards, you’ll get 25% more value from your rewards ⁠— increasing the value of the sign-up bonus to $750.

Travel transfer partners. You can transfer points at a rate of 1:1 to 10 airline partners and three hotel partners. Travel transfer partners include Aer Lingus AerClub, British Airways Executive Club, Emirates Skywards, Flying Blue AIR FRANCE KLM, Iberia Plus, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, IHG Rewards Club, Marriott Bonvoy and World of Hyatt.

Additional Chase Sapphire Preferred® Card benefits

  • No foreign transaction fees
  • Trip cancellation/interruption insurance
  • Baggage delay insurance
  • Trip delay reimbursement
  • Travel and emergency assistance services
  • Purchase protection
  • Extended warranty protection

Where the Chase Sapphire Preferred® Card falls short

Annual fee. The Chase Sapphire Preferred® Card comes with a $95 annual fee. However, the value of the sign-up bonus more than covers that cost during the first year of card membership.

Modest rewards rate. The Chase Sapphire Preferred® Card offers 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide.

That said, the travel category does include a broad range of purchases, including airlines, discounted travel sites, hotels, car rental agencies, timeshares, cruise lines, taxis, ferries, toll bridges, parking lots and more.

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

If you want more flexibility in how you earn bonus rewards, you may want to consider the Capital One® Venture® Rewards Credit Card.

  • 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

  • Receive up to $100 application fee credit for Global Entry or TSA Pre✓®

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.
  • 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
  • Named ‘The Best Travel Card' by CNBC, 2018
  • 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

Instead of limiting your bonus points to travel and dining purchases, the Capital One® Venture® Rewards Credit Card offers 2 miles per dollar on every purchase, every day.

Chase Sapphire Preferred® Card Capital One® Venture® Rewards Credit Card
Annual fee $95 $0 intro for first year; $95 after that
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
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
Intro APR on purchases N/A N/A
Regular purchase APR 17.49% - 24.49% Variable 17.49% - 24.74% (Variable)
Foreign transaction fees $0 None

While the Capital One® Venture® Rewards Credit Card comes with several benefits, including travel accident insurance and 24-hour travel assistance services, it doesn’t offer all of the same travel protections as the Chase Sapphire Preferred® Card, such as trip cancellation/interruption insurance, baggage delay insurance or trip delay reimbursement.

That said, Capital One® Venture® Rewards Credit Card holders aren’t responsible for paying an annual fee during the first year of card membership. The card charges $0 intro for first year; $95 after that.

The bottom line

If you travel regularly, the Chase Sapphire Preferred® Card is a great option. The card offers a valuable sign-up bonus that can be worth $750 when redeemed for travel through Chase Ultimate Rewards. Plus, cardholders earn 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide. But if you want a travel rewards card that offers bonus miles on every purchase and an annual fee of $0 intro for first year; $95 after that, the Capital One® Venture® Rewards Credit Card is more ideal.

Or, if you’d prefer a travel rewards card with a higher rewards rate and more premium perks, the Chase Sapphire Reserve® is a step above the Chase Sapphire Preferred® Card. The card offers 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. Plus, cardholders enjoy travel benefits, such as a $300 annual travel credit and 50% more rewards value when you redeem points for travel through Chase Ultimate Rewards. The downside? The card also comes with an annual fee of $450.

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases.

  • $300 Annual Travel Credit, Airport Lounge Access, and Flexible Redemption Options

Highlights
  • Earn 50,000 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®
  • Named "Best Premium Travel Credit Card" for 2018 by MONEY® Magazine
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year
  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. $0 foreign transaction fees.
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,000+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select
  • Up to $100 application fee credit for Global Entry or TSA Pre✓®

See additional details for Chase Sapphire Reserve®

More Info


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