Chase Sapphire Preferred Card Review
By: Tracy Brackman
Updated on: Oct 03, 2019
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.
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.
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. Plus, through January 2020, you can earn 10 miles per dollar on hotels booked through hotels.com/venture.
| 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 | 17.99% - 24.99% 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.
