Chase Sapphire Preferred Credit Card is a popular option to consider, If you’re looking for a travel rewards credit card, With its generous rewards, low annual fee, and range of benefits and perks, the Sapphire Preferred has become a favorite among frequent travelers.
In this article, we’ll take a closer look at the features and benefits of the Chase Sapphire Preferred Credit Card and why it may be worth considering for your next travel credit card.
What is the Chase Sapphire Preferred Credit Card?
The Chase Sapphire Preferred Credit Card is a travel rewards credit card that offers generous rewards and benefits for cardholders. With a $95 annual fee (as of April 2023), the Sapphire Preferred is a great option for travelers who want to earn rewards without breaking the bank.
What are the Benefits of the Chase Sapphire Preferred Credit Card?
The benefits of the Chase Sapphire Preferred Credit Card are numerous, and they cover a wide range of travel-related expenses. Here are just a few of the benefits you can expect with the Sapphire Preferred Credit Card:
- Generous rewards: The Sapphire Preferred Credit Card offers 2X points per dollar on travel and dining purchases, and 1X point per dollar on all other purchases. Points can be redeemed for travel through Chase Ultimate Rewards or transferred to travel partners like airlines and hotels.
- Travel protections: The Sapphire Preferred Credit Card offers trip cancellation and interruption insurance, primary rental car insurance, and baggage delay insurance, among other types of coverage.
- No foreign transaction fees: Cardholders can use their Sapphire Preferred Credit Card abroad without incurring foreign transaction fees.
- Exclusive experiences: The Sapphire Preferred Credit Card offers access to exclusive events and experiences, such as VIP access to music festivals and culinary events.
- Personalized service: Sapphire Preferred Credit Card holders have access to a dedicated customer service line for assistance with travel planning and other inquiries.
Is the Chase Sapphire Preferred Credit Card Worth the Annual Fee?
Whether the Chase Sapphire Preferred Credit Card is worth the annual fee ultimately depends on your travel habits and preferences. If you frequently travel for business or pleasure and can take advantage of the card’s rewards and benefits, then the $95 annual fee may be worth it.
For example, if you frequently dine out and travel, you could earn significant rewards with the 2X points per dollar on those purchases. Additionally, if you travel often enough to take advantage of the travel protections and no foreign transaction fees, then the Sapphire Preferred Credit Card may be a good fit for your lifestyle.
However, if you don’t travel frequently or don’t value the card’s perks, then the annual fee may not be worth it. It’s important to do your own research and compare credit cards to determine which one is best suited for your needs.
How to Apply for the Chase Sapphire Preferred Credit Card
To apply for the Chase Sapphire Preferred Credit Card, you can visit the Chase website or apply in person at a Chase branch. You’ll need to provide personal and financial information, including your income, credit score, and employment status.
In addition, it’s important to note that the Sapphire Preferred Credit Card requires a good to excellent credit score, so not everyone may be eligible. If you’re unsure if you qualify, you can use Chase’s pre-qualification tool to see if you’re a good candidate before applying.
Full list of Chase transfer partners
Airlines
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Aer Lingus (1:1 ratio).
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Air Canada (1:1 ratio).
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Air France-KLM (1:1 ratio).
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British Airways (1:1 ratio).
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Emirates (1:1 ratio).
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Iberia (1:1 ratio).
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JetBlue (1:1 ratio).
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Singapore (1:1 ratio).
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Southwest (1:1 ratio).
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United (1:1 ratio).
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Virgin Atlantic (1:1 ratio).
Hotels
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Hyatt (1:1 ratio).
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InterContinental Hotels Group (1:1 ratio).
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Marriott (1:1 ratio).
Complementary cards
The Chase Sapphire Preferred® Card is an excellent companion to other cards in the Chase Ultimate Rewards® family. That’s because you can move points to this card from your other cards that earn Chase Ultimate Rewards®, potentially opening up more redemption options.
Consider the Chase Freedom Flex℠. It earns 5% cash back on rotating quarterly categories (on up to the first $1,500 in purchases, upon activation) in addition to rewards for other spending. You could potentially move the rewards you earn on that card to the Chase Sapphire Preferred® Card. From there, you could get more value out of your points by transferring points at a 1:1 ratio to other loyalty programs or redeeming them for 1.25 cents apiece when booking travel through Chase. (See our comparison article on Flex versus Sapphire Preferred.)
Sapphire Preferred vs. Sapphire Reserve
If you have your eye on the Chase Sapphire Preferred® Card, you might also be checking out the pricier Chase Sapphire Reserve®. This premium travel card comes with an annual fee of $550 and several rich perks and benefits, including airline lounge access and an annual $300 travel credit. If you travel enough, going for the more expensive option could be well worth the cost.
Read NerdWallet’s full comparison of these two cards to learn more about the differences.
Here’s a look at how the cards stack up on major features:
Chase Sapphire Preferred® Card |
Chase Sapphire Reserve® |
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|---|---|---|
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Annual fee |
$95. |
$550. |
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Sign-up bonus |
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®. |
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $900 toward travel when you redeem through Chase Ultimate Rewards®. |
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Rewards |
Points are worth 1.25 cents apiece when redeemed for travel through Chase Ultimate Rewards®. |
Points are worth 1.5 cents apiece when redeemed for travel through Chase Ultimate Rewards®. |
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Other benefits |
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Learn more |
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Drawbacks and considerations
It’s complicated
All those reward categories with different rates, an anniversary bonus and a 1.25 cents per point redemption for travel through Chase? Dizzying.
Additionally, the best rewards and redemptions are tightly tied to the Chase Ultimate Rewards® travel portal or to transferring points to a different loyalty program, which is more to figure out. And to really boost your points, many people will use the card in conjunction with other Chase cards.
Phew.
In the end, optimizing the Chase Sapphire Preferred® Card requires a learning curve and an ongoing juggling act that some consumers simply don’t want to deal with.
They would be better off with a simpler cash-back credit card.
Few premium perks
The Chase Sapphire Preferred® Card is an excellent card for travelers in general. It even has a few travel perks, such as primary rental car insurance, trip cancellation/interruption insurance and lost luggage insurance.
But for those who love to travel in style, the more expensive Chase Sapphire Reserve® could be a better fit.
The Chase Sapphire Reserve® with an annual fee of $550 comes with an annual $300 travel credit and Priority Pass Select access, which gets you into several airport lounges for free and includes meal credits for certain airport eateries. And it comes with a credit for TSA PreCheck or Global Entry (or NEXUS), worth up to $100 once every four years.
Conclusion
The Chase Sapphire Preferred Credit Card is a popular travel rewards credit card with generous rewards, a low annual fee, and a range of benefits and perks. From exclusive experiences to travel protections, the Sapphire Preferred Credit Card is a great option for frequent travelers who want to earn rewards without breaking the bank. However, it’s important to do your own research