|Highlights||Credit Card Feature|
|Things We Like||Signing bonus of 50,000 bonus points|
|Our Least Favorite||No low intro APR period|
|Our Verdict||Great card for 1:1 point transfer to airline and hotel loyalty programs|
Chase Sapphire Preferred® Card is one of the best premium rewards credit cards to get right now in our opinion. Issued by JPMorgan Chase, this card lets you earn rewards on all spending, with higher rewards on travel and dining purchases. It also comes with an attractive bonus offer that lets you earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 in travel when you redeem through Chase Ultimate Rewards®.
The sleek metal card lends a feeling of value, and the high-end benefits you get certainly match. Chase was generous when adding travel benefits to this card, and if you do any amount of traveling, the comprehensive travel insurance coverage, 1:1 point transfer to leading airline and hotel loyalty programs and 25% off travel when you redeem your points for airfare, car rentals, hotels, and cruises through Chase Ultimate Rewards make Chase Sapphire Preferred® Card a solid value-for-money offer.
Things We Like About Chase Sapphire Preferred® Card
Earn 50,000 bonus points. You earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 in travel when you redeem through Chase Ultimate Rewards®. That's a pretty sweet bonus, especially when you consider that these points can be transferred to many popular frequent flyer programs at a 1:1 rate (more about this below).
Earn 5,000 bonus points after adding your first user and making a purchase within 3 months of getting your card account.
Introductory annual fee of $0 for the first year, then $95. Your annual fee for the first year will be $0, so you get to enjoy this card's benefits for a year without paying a yearly charge. But be ready to pay a $95 annual fee after the intro period.
1:1 point transfer. Points can be transferred to most leading airline and hotel loyalty programs and you will get 1 frequent flyer point for each reward point you transfer. Many other miles cards (including Discover it® Miles and Capital One® VentureOne® Rewards Credit Card) let you earn miles that are really more like points or cash back which you can redeem towards travel purchases, usually at a 100 miles = $1 rate. But this card gives you points that can be converted directly to frequent travel programs at a 1:1 rate. In other words the points you earn with Chase Sapphire Preferred® Card are worth their weight in actual frequent travel miles or points! Some of the frequent flyer programs that benefit from this 1:1 exchange rate include British Airways Executive Club, Southwest Airlines Rapid Rewards®, United MileagePlus® and Virgin Atlantic Flying Club. You can also transfer to hotel loyalty programs such as Hyatt Gold Passport®, Marriott Rewards®, IHG® Rewards Club and The Ritz-Carlton Rewards®.
High points on dining and travel. Earn 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide. If you spend a lot at restaurants every month, you can collect points pretty quickly. Plus you get rewarded every time you use this card to pay for travel. Note that there are a few card transactions which do not qualify for points, and these include buying travelers checks, making cash advances, or making money orders. You also won't receive points for things you return or get refunded. These rules generally apply to all rewards credit cards.
Get 25% off travel when you redeem your points for airfare, cruise bookings, hotel stays or car rentals through Chase Ultimate Rewards.
Primary auto rental coverage. This card gives you auto rental collision damage waiver coverage that insures you for damages to a rental car when you have an accident. Unlike most other cards which only offer secondary coverage above what's offered by your auto or rental car insurance, this card gives you primary insurance so you'll be covered even if your insurance, or the rental car's insurance don't cover collision damage. This is a major benefit if you use a lot of rental vehicles.
Trip cancellation and interruption coverage. If you are forced to cancel a trip due to unforeseen circumstances, you will be covered up to $10,000 as long as you paid for the bookings with this card. You also get trip delay coverage.
Chip and signature card. Chip technology lets you use this card almost anywhere outside of the US, while still letting you use your card as usual when you're in the US.
$0 foreign transaction fees means that when you use this card to make payments outside the US, you won't be charged an additional fee for your transactions. This is not only beneficial for traveling but also for online shopping at international stores.
Our Least Favorite Things About Chase Sapphire Preferred® Card
No low intro APR period for purchases and balance transfers. There is a 16.24%-23.24% variable APR on purchases and balance transfers, and you get this rate right from the start. You can avoid paying this interest by making all of your payments on time.
Cash advance fee. This is a good card to use to pay merchants when traveling, as it has no foreign transaction fee. But avoid using Chase Sapphire Preferred® Card to get cash (at ATMs for example). It has a cash advance fee of either $10 or 5% of the amount of each transfer, whichever is greater. It also has a 25.24% variable APR for cash advances, and Chase begins charging interest for cash advances right from the time you make the transaction. That means that when you use this card to get a cash advance, you start paying interest on that money right away.
How Other Cards Compare With Chase Sapphire Preferred® Card
Premier Rewards Gold Card from American Express, a GET.com advertiser, is similar to Chase Sapphire Preferred® Card in many ways, but has a higher annual fee ($0 introductory annual fee for the first year, then $195). In exchange for that higher fee, you earn higher rewards on more of your spending. When you use this card you get 3X points per dollar for flights booked directly with airlines. 2X points per dollar spent on purchases at US gas stations, US supermarkets and US restaurants, and 1X points on other purchases (terms and limitations apply). In our opinion that beats the 2 points per $1 spent at restaurants and on travel which you earn with Chase Sapphire Preferred® Card (the 1 point for 1$ on other purchases is the same). With this card, you also have the option of transferring points to frequent travel partners, generally at a 1:1 rate, just like Chase Sapphire Preferred® Card gives you (1:1 point transfer to many popular airline and hotel loyalty programs). However, the frequent travel partners included on each of these rewards transfer programs are different. Chase Sapphire Preferred® Card lets you transfer points to Southwest Airlines Rapid Rewards®, United MileagePlus®, Hyatt Gold Passport®, IHG® Rewards Club, Marriott Rewards®, The Ritz-Carlton Rewards® and a number of foreign airline programs. The Membership Rewards® you get with Premier Rewards Gold Card from American Express can be transferred to Delta SkyMiles®, JetBlue, HawaiianMiles® (Hawaiian Airlines), Virgin America Elevate, and many foreign airline programs. The welcome bonus that comes with this card (25,000 Membership Rewards® Points after you spend $2,000 on purchases in your first 3 months of Card Membership with your new Card) is weak compared to what you get with Chase Sapphire Preferred® Card (50,000 bonus points after spending $4,000 on purchases in your first 3 months after your account is opened). The insurance coverage you get with this card is not quite as comprehensive as the protection you get with Chase Sapphire Preferred® Card, but is still solid. You enjoy some unique travel perks which can save you money depending on your lifestyle. These include an airline fee credit of up to $100 a year towards baggage fees and other incidental charges at one airline, and up to $75 hotel credit on qualifying incidental charges (plus a room upgrade on arrival, where available) with The Hotel Collection from American Express. In our opinion, the high rewards you earn on flights and everyday spending make the annual fee worth it for large spenders. However, Chase Sapphire Preferred® Card may benefit you more if you travel a lot.
If you want an introductory low APR then you may prefer Capital One® VentureOne® Rewards Credit Card with it's 0% intro on purchases for 12 months, and 12.24% - 22.24% (Variable) thereafter. You earn unlimited 1.25 miles per dollar on every purchase, every day, but this card does not let you convert miles to frequent flyer programs at a 1:1 rate. Instead it lets you redeem your miles towards any travel purchase you make (100 miles = $1 of travel purchases). That gives you a lot of freedom to book travel as you please, but you will usually have to convert a lot more miles to get the same ticket, when compared to a card with a 1:1 conversion rate. This card has many useful travel benefits, and has $0 annual fee. You enjoy a one-time bonus of 20,000 miles ($200 in travel) after spending $1,000 on purchases within your first 3 months as a cardholder.
Chase Sapphire Preferred® Card is a rewarding credit card with a flexible rewards program, a 1:1 point transfer rate to participating hotel and airline loyalty programs, $0 foreign transaction fee, solid travel insurance coverage and shopping benefits. If you travel often, this is one of the best credit cards you can use.
Chase Sapphire Preferred® Card is one of a precious few rewards credit cards that gives you 1:1 transfer of points to leading airline and hotel loyalty programs. Many other travel cards give you miles or points that redeem towards travel purchases at a very poor rate (typically 100 miles equals just $1 of travel).
You'll enjoy a lot of travel insurance benefits when you pay for travel with Chase Sapphire Preferred® Card, including trip cancellation/trip interruption insurance, which can reimburse your prepaid, non-refundable travel expenses, including passenger fares, tours and hotels up to $10,000 per trip if your trip is canceled or cut short by severe weather, sickness and other covered situations. On top of that, you get trip delay reimbursement, baggage delay insurance, travel accident insurance and lost luggage reimbursement.
In short, this is an excellent credit card for you if you are a frequent traveler and want to earn rewards towards travel just by paying for regular purchases. Considering the benefits, it's fair to say that the introductory annual fee of $0 for the first year, then $95 will be worth paying if you take full advantage of the perks. The large bonus offer just sweetens the deal.
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Can you pay monthly utility, mortgage etc, bills with the Chase Sapphire Preferred Card?
January 21 2016 at 14:17
Yumi Hachiya Zeviar
I'm considering to get JAL USA Card... since I plan to fly with JAL when I visit my family in Japan. But Chase Sapphire Preferred® Card or Capital One® VentureOne® Rewards Card sounds pretty good... also I saw Wells Fargo Propel World American Express® Card... but that has pretty high annual fee... I'm also interested in Blue Cash Preferred® Card from American Express... I have been primarily using Discover Card, but it's not accepted in Japan... Any suggestion?
March 26 2015 at 17:06
This sounds interesting. Is it available only in the US? I live in Romania. Is anything like this available for EU citizens?
May 08 2015 at 18:02