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- Chase Sapphire Preferred Review
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The Chase Sapphire Preferred® Card has a legion of travel fans for good reason and it's annual fee is justifiable for most cardholders. The card packs in features common with the best travel credit cards, such as a large sign-up bonus, premium rewards in several diverse spending categories, and perhaps most importantly, one of top travel rewards programs we've come across. Check out our in-depth Chase Sapphire Preferred® Card review to see if this card is a fit for your needs.
On Chase's Secure Website.
Chase Sapphire Preferred® Card
On Chase's Secure Website.
Great for: All-in-one travel credit card
Bottom Line
With a leading sign-up bonus, the sky’s the limit for this top-rated travel rewards card. Plus, the premium points program for travel and dining make it a no brainer for travel enthusiasts everywhere.
Credit Rating Requirement:
Rewards
2x points on travel and dining, 1x points on all other purchases. 25% more points for travel booked through Chase's portal.
Annual Fee
$95
Intro APR
Purchases: N/A, N/A
Balance Transfers: N/A, N/A
Ongoing APR
15.99% - 22.99% Variable
Welcome Bonus
60,000 points after spending $4,000 within 3 months
Highlights
This credit card is a good fit for: Travelers who want the most versatile travel points on the market and a great introductory bonus offer.
More cash back on groceries: Earn 2 points per $1 on up to $1,000 of monthly grocery purchases through April 30, 2021.
Save money on take out: Get unlimited DoorDash deliveries with a $0 delivery fee and reduced service fees on qualifying purchases over $12. You must activate DashPass by Dec. 31, 2021.
Score ride share perks: Earn 5 points per $1 on Lyft rides through March 2022.
Pedal more with Pelaton: Receive up to $60 back for Peloton Digital or All-Access Memberships through Dec. 31, 2021.
60,000-point sign-up bonus: You earn 60,000 bonus points after spending $4,000 on purchases in the first three months. That's worth $750 for travel when redeemed through Chase's travel portal.
2 points per $1 on travel and dining: Your travel and dining spending earns 2 points per $1, and there's no cap on how many bonus points you can earn this way. Outside those limited-time bonus categories, all other spending earns the standard rate of 1 point per $1.
25% points bonus: This is one of Chase's credit cards that earns Chase Ultimate Rewards points, one of the most valuable types of travel rewards. You can redeem points toward cash travel purchases through Chase's travel portal at a rate of $0.0125 per point.
Another option is transferring points to the loyalty program of Chase's many airline and hotel partners. These give you a chance to make very high-value award bookings, which are a great way to maximize the value of Ultimate Rewards points.
No foreign transaction fee: Foreign transaction fees can quickly add up when whipping out credit cards for purchases abroad. The cards foreign transaction fee is 0% -- that's a saving of $60 on $2,000 worth of international spending that would otherwise incur a typical 3% fee on many other cards.
Consumer and travel protections: Chase's travel insurances and consumer protections are robust when compared to other credit card issuers. They include:
Annual fee: The Chase Sapphire Preferred® Card charges a $95 annual fee. While it is a justifiable annual fee for many, it's a fee, nonetheless.
Limited-time perks: Some of the cards perks are only offered for a limited time, which is problematic for two reasons. The first is that it's tougher to keep track of your credit card's features when they change every few months. It's also frustrating when those special offers end, because your card loses a portion of its value.
The Chase Sapphire Preferred® Card's annual fee is worth it for many travelers, given the rewards, sign-up bonus, and extra perks it offers. The sign-up bonus is already worth $1,000 in travel, which is enough by itself to justify the cards annual fee for many years
Beyond just the first year, the card still retains its value for cardholders with modest credit budgets. You'd need to earn only 7,600 Ultimate Rewards points to balance out the annual fee. That's because, at a rate of $0.0125 per point for travel purchases, 7,600 points is worth $95 in travel. In practice, most cardholders will use their cards much more than that and earn far more points.
However, there are situations in which you could find a better deal with another card. For example, if you spend only a few hundred dollars per month on your credit card, you'd be better off with a no-annual-fee-travel credit card.
The higher-annual-fee Chase Sapphire Reserve® ($550 annual fee) is worth considering alongside this card. Importantly, the two credit cards offer big bonuses, premium rewards for travel and dining, and access to Chase's valuable Ultimate Rewards program. But there are some differences to consider when choosing between the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve®.
Perks | Chase Sapphire Preferred | Chase Sapphire Reserve |
---|---|---|
Annual fee | $95 | $550 |
Travel and dining rewards | 2 points per $1 | 3 points per $1 |
Ultimate Rewards redemption bonus | 25% | 50% |
Sign-up bonus | 60,000 points after spending $4,000 within three months (worth $750 in travel) | 50,000 points after spending $4,000 within three months (worth $750 in travel) |
Airport lounge access | None | 1,000+ lounges |
Travel statement credits | None | Global Entry or TSA Pre✓®, $300 each anniversary year for travel purchases |
Applicants will have the best shot of securing approval for the the Chase Sapphire Preferred® Card with a credit score of 670 or higher. It is possible to be approved with a lower score and even to not be approved with a higher score. Many factors are considered during the underwriting process, including the notorious Chase 5/24 rule, and these can sway an approval decision.
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Citi Premier® Card | Bank of America® Travel Rewards credit card |
Rating image, 4.5 out of 5 stars.
4.5 stars
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. |
Rating image, 5.0 out of 5 stars.
5.0 stars
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. |
Apply Now
On Citi's Secure Website. |
Apply Now
On Bank of America's Secure Website. |
Read Full Review | Read Full Review |
Credit Rating Requirement: |
Credit Rating Requirement: |
Welcome Bonus: 60,000 points after spending $4,000 within 3 months |
Welcome Bonus: 25,000 points after making at least $1,000 in purchases within 90 days of account opening |
Rewards Program: 3x points at restaurants and supermarkets as well as at gas stations, air travel, and hotels, 1x points on all else |
Rewards Program: Unlimited 1.5 points per $1 on purchases, 25%-75% more points for Bank of America Preferred Rewards members |
Intro APR: Purchases: N/A Balance Transfers: N/A |
Intro APR: Purchases: 0%, 12 billing cycles Balance Transfers: N/A |
Regular APR: 15.99% - 23.99% (Variable) |
Regular APR: 14.99% - 22.99% Variable |
Annual Fee: $95 |
Annual Fee: $0 |
Highlights:
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Highlights:
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Apply Now
On Citi's Secure Website. |
Apply Now
On Bank of America's Secure Website. |
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The Chase Sapphire Preferred® Card will be a match if you want a card that offers versatile travel rewards and a solid rewards rate, and that doesn't cost much per year.
The best thing about the Chase Ultimate Rewards program is all the redemption opportunities it offers. You can transfer your points if there's an award booking you like, and if not, you can always use the Chase travel portal to book travel at cash prices. The Chase Sapphire Preferred® Card can earn you a lot of points in this program at a reasonable annual fee.
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