Chase Sapphire Preferred® Card Review

Our Detailed Review of This Card

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The 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, equal to $500 in cash, $625 in travel if you book via Chase Ultimate Rewards, or even more if you transfer them to other travel programs. Other terrific card benefits include a free 1:1 point transfer and very flexible redemption flexibility, making this a card you'll want to have in your pocket.

With Chase Sapphire Preferred® Card 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 ($500 in cash or $625 in travel!) after spending $4,000 in the first 3 months.

Our Travel Rewards Credit Card Analysis found Chase Sapphire Preferred® Card to have a $2.03 average hotel and flight redemption value (aka, "combined" value) for every $100 spent. The card did extremely well in our Hotel category with a $2.38 value, and also placed near the top of the Intro Bonus category - its 50,000 point bonus is worth a tremendous $993 using the the 1:1 point transfer feature discussed later on in this review.

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 whopping $2.38 for each $100 you spend!

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.


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: $0 for First Year, then $95.
  • Foreign Transaction Fees: $0.
  • Purchase APR: 17.74% - 24.74% variable.
  • Balance Transfer APR: 17.74% - 24.74% Variable.
  • Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.


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Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

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