Chase Sapphire Preferred® Card Review: The Travel Rewards Credit Card that Changed the Game

The Chase Sapphire Preferred® Card is an excellent travel rewards credit card for earning points on every purchase that can be redeemed for travel on any airline or at any hotel. Learn more in our Chase Sapphire Preferred® Card review.

Despite increasing competition in the travel rewards sector, we believe the Chase Sapphire Preferred® Card is still one of the best premium travel rewards credit cards on the market. Here’s our full Chase Sapphire Preferred® Card review:

Overview

The Chase Sapphire Preferred® Card is a premium travel rewards credit card (it’s made of metal, not plastic!) that earns 5X points on travel purchased through Chase Ultimate Rewards, 3X points on dining, 2X points on all other travel purchases, and 1 point per $1 spent on everything else.

The card carries a $95 annual fee.

Money Under 30 recommends the Chase Sapphire Preferred® Card to consumers who want to maximize the value of their credit card rewards by booking travel through Chase Ultimate Rewards or transferring points to airline and hotel partners. Anyone who can take advantage of the generous sign-up bonus should also consider this card. New cardmembers can earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®.

Other benefits of carrying the Chase Sapphire Preferred® Card include global access to a 24/7 concierge line and no foreign transaction fees—a must if you’ll take card abroad.

Earning Rewards

With the Chase Sapphire Preferred® Card, you earn 5X points on travel purchased through Chase Ultimate Rewards, 3X points on dining, 2X points on all other travel purchases, and 1 point per dollar spent on all other purchases.

From shopping to restaurants to hotel stays to your morning Starbucks, the Chase Sapphire Preferred® Card will give you double points. The official list of travel purchases that will earn double points includes:

Airlines, hotels, motels, timeshares, campgrounds, car rental agencies, cruise lines, travel agencies, discount travel sites, passengers trains, buses, taxis, limos, ferries, tolls, bridges, highways, and parking lots/garages.

The Chase Sapphire Preferred® Card is a good pick for sophisticated travelers because of what you can do with your rewards and because the Chase Sapphire Preferred® Card earns Chase Ultimate Reward Points. Although you can redeem these points many different ways, you have the option of transferring Chase Ultimate Rewards Points to leading airline and hotel loyalty programs at a 1:1 ratio. This cuts down on the number of cards you need to carry to get rewards on every purchase that can be used toward your preferred travel award.

Redeeming Rewards

Chase Ultimate Rewards is Chase’s premium rewards program. In addition to exchanging points for gift cards and cash, you make your points go further by booking travel directly through Chase Ultimate Rewards or exchanging points for miles or points with partner airlines and hotel chains.

If you’re just looking to redeem credit card rewards for cash or gift cards, a no-annual-fee cash-back credit card is a better bet. If you know what you’re doing, however, your credit card points will go further with a travel rewards card like Chase Sapphire Preferred®.

If, for example, 25,000 points earns you $250 in rewards on a cash back card—a value of one penny per point—the same 25,000 points might get you a plane ticket or hotel stay worth much more when you use the Chase Sapphire Preferred® Card.

The Chase Sapphire Preferred® Card earns Chase Ultimate Rewards points that can be redeemed 1:1 for airline and hotel partners including:

• British Airways
• Hyatt
• IHG
• Korean Air
• Marriott
• Singapore Airlines
• Southwest Airlines
• Ritz-Carlton
• United Airlines
• Virgin Atlantic

Even if you don’t transfer points to partners, you can get 25 percent more value when you redeem points for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel (or $800 in cash). Booking through Chase Ultimate Rewards is just like reserving through Expedia or another booking site. And, unlike using frequent flyer miles earned with a specific airline, there are no blackout dates or travel restrictions when booking through Chase—as long as there’s a seat on the flight, you can book it through Chase Ultimate Rewards®.

If you’re serious about maxing out your credit card points, consider using another Chase card along with the Chase Sapphire Preferred® Card together. Points earned can be transferred to your Chase Sapphire Preferred® Card account (and later to airline/hotel partners).

Sign-up Bonus

You will earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®.

Among the top credit card sign-up bonuses, the Chase Sapphire Preferred® Card is easily one of the most generous. The only downside is that $4,000 is a lot to spend in the first three months if you don’t regularly spend that much or weren’t already planning on a large purchase.

Rates and Fees

Review Summary

If you fly at least a few times a year and enjoy earning credit cards rewards in the form of free travel, the Chase Sapphire Preferred® Card is a great card to increase the value of your points from one cent per point to up to five cents per point.

That said, with a $95 annual fee, the Sapphire Preferred® Card may not be for everyone. If you’re looking for a simpler, more straightforward rewards system—or you want a card without an annual fee—look for a cash-back card without an annual fee.

And remember, if you’re new to the Chase Sapphire Preferred® Card, you can earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®.

Learn more or apply for the Chase Sapphire Preferred® Card now.