The Chase Sapphire Preferred credit card is an industry-leading card for earning and redeeming points for travel. The bonus points earned for travel and restaurant purchases are great for frequent travelers. With premium travel and dining rewards, this card can give you great value for vacation expenses.
In this review of the Chase Sapphire Preferred credit card, we focus on its merits for travel rewards and the many ways you can earn and redeem reward points based on your travel, dining, and general purchases. The card also comes with an excellent welcome offer that further enhances the value. It combines a reasonable annual fee, bonus points for travel, dining and other activities as well as travel protection features.
The Chase Sapphire Preferred credit card is a travel card that offers high rewards in many different areas, including 5x rewards on travel expenses, 3x rewards on dining and 2x points for all other travel-related purchases. You also receive one point per dollar for all purchases that don’t fall under these categories. This card is a great entry into the Chase Ultimate Rewards program and has a generous welcome offer of 100,000 bonus points if you spend $4,000 in the first three months.
A very good rewards card with no foreign transaction fees and comprehensive travel cover
While the Chase Sapphire Preferred card brings many benefits to the table, we need to look at both its pros and cons to give you a clear picture.
MoneyGeek regularly updates its recommendations of credit cards across multiple categories by analyzing current data. While the Chase Sapphire Preferred card is not currently featured in the top cards, you can check out other top travel credit cards of 2021 to see what fits your needs.
With the Chase Sapphire Preferred credit card, travel purchases have significant bonuses. You earn 5x rewards points on all travel purchases made through the Chase Ultimate Rewards program. You earn 3x reward points for eligible dining, takeout and delivery services. On other travel purchases, you get 2x reward points. Meanwhile, all other purchases accrue one point per dollar. You can then redeem these points with Chase Ultimate Rewards or transfer them to several hotel and airline partners.
The card also includes a very generous welcome offer of 100,000 points, a value of about $1,250, once you complete $4,000 worth of purchases during the first three months of opening your card account. You can also earn 3x rewards points for grocery expenses and select streaming services.
Many other features and benefits come bundled with the Chase Sapphire Preferred credit card, including:
"You can earn more bonus points by acquiring a separate Chase Sapphire Preferred credit card for each adult member in your household. Earning both referral bonus points and an additional sign-up bonus for your household is a fantastic way to accumulate points for a travel redemption." - Alene Laney, Credit Card Journalist
Regular APR
This card has no introductory APR offer, so you will have to work with a variable APR of 15.99–22.99%, which is quite high compared to other credit cards.
Annual Fee
The card has an annual fee of $95, which is reasonable considering market trends. In fact, you can easily recoup the value of the annual fee with your rewards spending, especially if you are primarily using your card for travel-related expenses.
Other Fees
With this card, you have a balance transfer fee of $5 or 5% of the transfer amount, whichever is greater. You also have a cash advance fee of the greater of $10 or 5% of the transfer amount. There is no foreign purchase transaction fee.
If you want to compare this card with other cards you have or cards we recommended in our top travel cards category, you need to pay attention to the APR and all relevant fees and charges. You can take a look at your billing statement or check the website or mobile app of the card provider. You can also find information through the credit card agreement database maintained by the Consumer Financial Protection Bureau (CFPB).
Before getting the Chase Sapphire Preferred credit card, you need to decide how you plan to use it. Do you want it as your only credit card or should you add it to an existing collection of different types of cards?
If this is your only credit card, keep the annual fee and the high APR in mind. If you do not pay your balance monthly, the high APR would mean having to pay extra. If you frequently book your travel through the Chase Ultimate Rewards program, the high rewards rate can work for you. However, if most of your purchases happen in other categories like grocery, delivery and dining, the rewards rate might not be as appealing.
As an additional card, this card can work well if you travel frequently. With no foreign transaction fees, this card is a good choice for international travel, along with all the other travel-focused perks. Similarly, if you have other Chase cards and use the Chase Ultimate Rewards program, the transferable rewards points can give you some good value.
MoneyGeek meticulously verifies and analyzes data while reviewing credit cards. We standardize data points for fair comparisons, estimate average spending profiles, determine long-term value and re-rank regularly. We collect information from the Consumer Finance Protection Bureau’s database.
This card is a good choice both for casual and frequent travelers who are looking for a streamlined experience with a solid reward accumulation rate with a low annual fee. It stacks up well against the competition. However, it is a good idea to compare it against other cards to see if it is the right fit for you.
Chase Sapphire Preferred
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Here are some frequently asked questions and answers about the Chase Sapphire Preferred credit card that you might want to know about.
If you are still not sure about this card, take a look at our top recommended travel cards. If you are not looking for a travel card, you can opt for a rewards card or a balance transfer card instead.
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