Chase Sapphire Preferred® Card Review
Our Travel Rewards Credit Card Analysis found Chase Sapphire Preferred® Card to have a winning $2.19 average hotel and flight redemption value (aka, "combined" value) for every $100 spent. The card also came in first place in our Hotel category with a $2.61 value and placed second in the Intro Bonus category with a tremendous value of $1,086. The intro bonus value is based on the 1:1 point transfer feature discussed later on in this review.
You'll earn 2 points for each dollar you spend on travel and dining out and 1 point per dollar on all other purchases. Plus, there is a 50,000 bonus after spending $4,000 in the first 3 months (a $1,086 value). You will also earn another 5,000 bonus points after adding your first authorized user and making a purchase in the first 3 months from your account opening. Put those together and you have a potential 55,000 point bonus - worth either $687 when you redeem for travel via Chase Ultimate Rewards or a whopping $1,195 if you move the points over to the Hyatt Gold Passport frequent travel program!
Chase Sapphire Preferred® Card offers a lot of point redemption flexibility. If you choose to redeem your points for travel by using Chase's online travel portal your points are worth an extra 25%, making this one of the best bets for point value. You can also redeem your points for cash through an account statement credit, as electronic deposit into an eligible checking or savings account (minimum redemption for this = 2,000 points) or for gift cards.
One of the best and most unique features of this card is that you can transfer your earned points for FREE at a 1:1 value to other popular travel rewards programs including those from United and Southwest as well as Hyatt and Marriott. This is a terrific feature that allows you to take advantage of the point value of other programs. In fact, per our Travel Rewards Credit Card Analysis, if you move your points over to the Hyatt Gold Passport program they'll be worth a spectacular $2.61 for each $100 you spent!
Other card perks include travel accident insurance, lost luggage reimbursement and no fees on foreign transactions. Plus, given the nature of the point redemption process, your earned points have no blackout dates or travel restrictions which makes it much easier to plan a vacation.
With double points earned on travel and dining purchases, Chase Sapphire Preferred® Card is particularly suited for road warriors but is still an excellent pick for everyone who wants to earn points that give you a lot of redemption choices (free 1:1 transfer to other programs!). Although the $95 annual fee might seem a bit steep, it is free the first year so you can try the card out and see if it's a good fit for your needs. If you like to travel, this card is a smart choice and our No. 1 ranked travel credit card.
- Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
- Named Best Credit Card for Flexible Travel Redemption - Kiplinger's Personal Finance, July 2016
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
- No foreign transaction fees
- 1:1 point transfer to leading airline and hotel loyalty programs
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
- No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
- Points can be redeemed for travel, merchandise, entertainment, dining, or cash.
- Transfer points at a 1:1 value to participating frequent travel programs.
- No travel restrictions or blackout dates.
- When you redeem for cash or a statement credit, your points are worth $.01 (one cent), which means 100 points equals $1 in redemption value.
- When you redeem for travel, each point is worth $.0125 (one and a quarter cents), which means 100 points equals $1.25 in redemption value.
Fees and APR
- Annual Fee: $0 for First Year, then $95.
- Foreign Transaction Fees: $0.
- Purchase APR: 16.49%-23.49% variable.
- Balance Transfer APR: 16.49%-23.49% Variable.
- Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
|Purchase APR:||16.49%-23.49% variable|
|Features:||50,000 bonus points after spending $4,000 in first 3 months, 2 points per $1 spent on travel and dining, 1 point per $1 spent on everything else|
|Annual Fee:||$0 for First Year, then $95|
NextAdvisor Credit Cards Blog Headlines
- Cash Back vs. Travel Rewards: How to Decide Between the Two
Choosing a rewards credit card is not always an easy feat. While some consumers know exactly what they want, others […]
- Can a Balance Transfer Improve My Credit?
Credit is important in many aspects of life, both financial and otherwise, and if you are dealing with less-than-perfect (or […]
- What are Your Options for Dealing with a Debt Collector?
Having a debt in collections is no fun for many reasons, but most of all because debt collectors have the […]
- Earn 50,000 Bonus Points with the Southwest Rapid Rewards Plus Credit Card
When it comes to choosing a travel rewards credit card, if you are a loyal customer of a specific airline, […]
Related Forum Posts
- Can Chase Sapphire Preferred points be used for travel on JetBlue Airlines?
Chase Sapphire Preferred points can be redeemed for travel at a 20% discount via the Chase Ultimate Rewards online portal. However, at this time it[...]
- What travel programs can you transfer Chase Sapphire Preferred points to?
You can transfer Chase Sapphire Preferred points at a 1:1 ratio for FREE to the following airline and hotel frequent travel programs:[...]
- Can airline program points be transferred to Chase Sapphire Preferred?
According to the Chase Sapphire Preferred customer service rep we spoke with, point transfers are more of a one-way street. [...]
- Do Chase Sapphire Preferred point expire?
According to the Chase Sapphire Preferred customer service rep we spoke with, the points do NOT expire and there is no limit to the amount of points[...]
- What airline programs can you transfer Chase Sapphire Preferred points to?
According to the Chase website, Chase Sapphire Preferred card travel programs include the following:[...]