Chase Sapphire Preferred® Card Review
The Chase Sapphire Preferred® Card is one of the best-known travel rewards credit cards, featuring 5 points per dollar on travel booked through the Chase travel portal and 3 points per dollar on dining, select streaming services and online grocery store purchases (excluding Target, Walmart and wholesale clubs). These valuable points can be transferred to airline and hotel partners or redeemed directly for travel at a rate of 1.25 cents per point through Chase Ultimate Rewards.
For an annual price tag of $95 you’ll earn 5 points per dollar on travel purchased through Chase Ultimate Rewards®, 3 points per dollar on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per dollar on all other travel purchases and 1 point per dollar on all other purchases.
With this card, you can redeem Ultimate Rewards® points strategically for travel, like transferring those points to a variety of loyalty programs, including United Airlines or Hyatt, for example.
- Earn high rewards on several areas of spending
- Transfer points to travel partners at 1:1 rate
- $0 foreign transaction fees
- Many travel and shopping protections
- $95 annual fee
- Requires good/excellent credit
- Complicated rewards
How It’s Compared
Chase Sapphire Preferred® Card vs. Chase Sapphire Reserve®
The Chase Sapphire Reserve® is the higher-end version of the Chase Sapphire Preferred® Card. It carries an annual fee of $550 but it also comes with a slew of perks including a whopping 50% points value boost when booking travel through Chase or using the Pay Yourself Back feature, a $300 annual travel credit, higher rewards on most travel than the Preferred, Priority Pass Select lounge access and a TSA PreCheck or Global Entry application fee credit. For someone who can fully utilize all of the extra benefits, the price tag may be worth it.
Chase Sapphire Preferred® Card vs. Capital One Venture Miles Rewards Credit Card
The Venture card’s unlimited 2X rewards rate on all spending makes stockpiling rewards a no-brainer. You’ll earn at the same rate on all eligible purchases, with no need to juggle cards or book travel through the issuer portal. However, the best option for you depends on your personal spending patterns and redemption goals at the end of the day. For example, the Venture card earns more points on everyday spending, but it can be easier to find value through Chase’s transfer partners than with Capital One partners’ selection.
As with the Sapphire Preferred, however, the Venture card features a $95 annual fee. You’ll need to spend at least $4,750 per year to offset the Venture card’s annual fee with rewards (assuming you redeem for travel).
Chase Sapphire Preferred® Card vs. Citi Premier® Card
The Citi Premier® Card not only shares a number of rewards categories with the Sapphire Preferred, but it offers some extra options that could prove highly lucrative for the right cardholder. You’ll get a 3X rewards rate on restaurant, supermarket, gas station, hotel and air travel purchases. Unlike the Sapphire Preferred, the Premier card doesn’t require you to book travel through an issuer portal or purchase groceries online to earn bonus rewards.
On the downside, depending on your travel preferences Citi’s list of transfer partners may fall short of Chase’s.
The Chase Sapphire Preferred is a terrific entry point into the world of travel rewards if you’re ready to move beyond cash-back or fixed-value credit card rewards. For a reasonable $95 annual fee, it offers exceptional value, simple redemption options, and premium benefits.
If you’re looking for ultra-swanky high-end perks, look at a different card and be prepared to pay the price. But for anyone seeking a comfortable way to accrue earnings they can use towards future trips, look no further than the Sapphire Preferred.
There are a total of ten airline loyalty programs and three hotel loyalty programs that partner with Chase Ultimate Rewards®. Points for these programs can be transferred at a 1:1 ratio in increments of 1,000.
However, not all Chase travel partners are created equal. Programs such as IHG Rewards Club and Marriott Bonvoy offer less value than redeeming your points for cash or through Chase Travel, while most transfer partners offer much greater value.
Airline transfer partners
- Aer Lingus AerClub
- Air Canada Aeroplan
- BritishAirways Executive Club
- Emirates Skywards
- Flying Blue AIR FRANCE KLM
- Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards®
- United MileagePlus®
- Virgin Atlantic Flying Club
Hotel transfer partners
- IHG® Rewards Club
- Marriott Bonvoy™
- World of Hyatt®