Chase Sapphire Preferred® Card Review

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Our Detailed Review of This Card

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The Chase Sapphire Preferred® Card is a great option for anyone who wants to earn points for purchases and be able to spend them on a wide variety of rewards. The intro bonus is sizable too, at 60,000 bonus points. Plus, it features a free 1:1 point transfer option and a variety of other travel perks, making this a card you’ll want to add to your wallet.

With the Chase Sapphire Preferred® Card, you’ll earn an unlimited 2X points on travel and dining and 1 point per $1 on all other purchases. On top of that, you’ll get 60,000 bonus points after spending $4,000 on purchases in the first 3 months. That’s worth $600 when redeemed for cash back! And, when you use your points to book travel via Chase Ultimate Rewards, they get 25% more value — which would bring that bonus up to $750.

Another way to get extra value and flexibility out of your points is the free 1:1 point transfer to other popular travel rewards programs, including United, Southwest, Hyatt and Marriott. This feature offers you the option to move your earned points to participating travel programs, allowing you to take advantage of the point value of those other programs. You don’t even have to transfer all of your points to one program. For example, say you have 10,000 points saved up. You could move all 10,000 points to a single program, move 2,500 to one program and 7,500 to another, or anywhere in between (though the minimum redemption is 1,000 points) — all for free.

For extra peace of mind, know that your earned points have no blackout dates or travel restrictions, making it much easier to plan a vacation, and the Chase Sapphire Preferred® Card includes travel accident insurance and lost luggage reimbursement. Also, this card charges no foreign transaction fees, another travel essential. Those fees frequently range from 3% to 5% on every purchase made outside the U.S., so avoiding them during international travel is a must.

While the Chase Sapphire Preferred® Card does charge a $95 annual fee, its 2X points on travel and dining, 60,000-point bonus, and flexible point redemption choices (free 1:1 transfer to other programs) likely make it worthwhile for those who love to travel.

Rewards

  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®.
  • Earn 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide.

Redeem 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: $95.
  • Foreign Transaction Fees: $0.
  • Purchase APR: 17.99% - 24.99% Variable.
  • Balance Transfer APR: 17.99% - 24.99% Variable.
  • Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
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