It can be difficult to choose a new credit card when you are unsure about your preferences. Maybe you want to start small with travel rewards but aren’t quite ready to dedicate yourself to a particular program. Or perhaps you would like to have the opportunity to receive cash back on everyday purchases, but you’re not sure how you’d like to use your rewards.
In this situation, the Chase Sapphire Preferred® Card, which offers good general points as well as enhanced travel rewards, may be a great choice. This card offers both travel advantages and rewards flexibility without sacrificing the opportunity to earn cash back, which makes it something of a unicorn in the credit card industry.
In addition, the Chase Sapphire Preferred offers you 60,000 bonus points, which can be used to book travel through Chase Ultimate Rewards, provided you spend $4,000 on purchases within three months of opening your account. Continue reading to find out how this card can help you in addition to its welcome bonus.
The Chase Sapphire Preferred provides six advantages.
- Better travel benefits via the Chase gateway
You can test out travel benefits with the Chase Sapphire Preferred without having to pay a hefty annual fee, which is the first reason to think about it as your next credit card. With this card, you may use points to directly book travel through the Chase gateway and get 25% more value for your rewards when you do.
Utilizing the Chase travel portal is simple. To book your flight, hotel, rental car, and any travel experience, simply search online. Then, choose whether to pay with cash, points, or a mix of the two.
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- The capacity to assign partners points
You may also transfer your points at a 1:1 ratio to Chase hotel and airline partners with the Chase Sapphire Preferred. Partners include places like World of Hyatt, Marriott Bonvoy, United MilagePlus, British Airways, and Southwest Rapid Rewards. When you transfer points to partners before redeeming them, you frequently receive disproportionate rewards value.
Suppose you had a hoard of Chase Ultimate Rewards points and wanted to use them to purchase a hotel stay in Miami, Florida. You can always start by looking through the hotels on the Chase portal, but if you aren’t able to discover what you’re looking for, you might want to think about moving your points to one of the three hotel brands that Chase has partnerships with: World of Hyatt, Marriott Bonvoy, or IHG One Rewards.
For instance, I might reserve a hotel for $15,000 points, or $311 per night, at the Hyatt Regency Miami. In order to make this reservation, I would receive more than two cents for each Chase point if I transferred 15,000 points to your World of Hyatt account.
- Superb non-travel reward redemptions
You may use your rewards for non-travel-related purchases with the Chase Sapphire Preferred without losing any of your point value, which is another significant perk. A normal redemption rate of one penny per point is available with the Sapphire preferred for a variety of non-travel redemption choices, such as cash back or statement credits. With other reward schemes, such as American Express Membership Rewards, this isn’t always the case.
In the meanwhile, as Chase regularly offers gift card sales, the majority of gift card redemptions made possible through Chase are offered at the same rate of one penny per point.
You may typically select from a minimum of ten distinct gift card alternatives that are 10% off with points, even though the discounted gift card selections available through Chase are always changing.
- Stellar rewards percentages for regular purchases
The Chase Sapphire Preferred offers some of the most attractive earning rates for the way many individuals spend in addition to significant flexibility in rewards redemption.
First, you’ll have a sizable point balance to begin with if you qualify for the Chase Sapphire Preferred welcome bonus. Additionally, you can earn 5x points on travel booked through Chase Ultimate Rewards, 5x points on Lyft rides (until March 31, 2025), 3x points on dining, online grocery purchases (not including Target, Walmart, and wholesale clubs), and some streaming services, 2x points on other travel-related purchases, and 1x points on all other purchases with this card.
- Essential travel safeguards
The Chase Sapphire Preferred is a reasonably priced credit card that comes with certain built-in travel insurance benefits.
You obtain:
Up to $10,000 in trip cancellation and interruption benefits are available to qualified travelers, and up to $20,000 is available for covered trips.
Primary collision damage waiver coverage for rental cars up to the vehicle’s actual cash value
Up to $100 per day in baggage delay insurance for a maximum of five days (a six-hour delay or more is necessary)
Up to $500 per ticket in reimbursement for travel delays
Services for emergency relief and travel
In addition, Chase includes a few purchase-related consumer protections. These include purchase protection against damage or theft for up to $500 per claim and up to $50,000 per account, as well as extended warranty coverage on products that come with a manufacturer’s warranty.
- A fair yearly charge
While most other cards with flexible rewards that transfer to hotels and airlines cost anywhere from $250 to $695 yearly, the Sapphire Preferred only costs $95 for a year.
Many people find it easy to defend this low annual fee, particularly if they take advantage of the welcome offer, which is worth $600 in gift cards or cash back when you spend $4,000 within the first three months of opening an account (60,000 points).
It’s always possible to upgrade to a card with a higher annual fee if you become accustomed to using travel rewards and later decide you want premium benefits like access to airport lounges. The Chase Sapphire Reserve®, its elder twin, costs $550 annually and offers higher premium travel rewards.
How to submit a Chase Sapphire Preferred application
For the Sapphire Preferred, you usually need excellent credit or better—that is, a FICO score of 670 or above. If you have a good income and a higher score, your chances of being approved can increase.
The final word
A flexible rewards credit card, the Chase Sapphire Preferred goes well with a wide range of spending patterns. It offers a fair annual price, countless reward options, excellent earning potential, and a few useful built-in benefits. The Sapphire Preferred is a good entry-level travel card that offers greater benefits and redemption choices than many of its competitors if you’re not quite ready to dive headfirst into a travel rewards environment.
Frequently Asked Question (FAQs):-
1. What is the Chase Sapphire Preferred card, and what makes it unique?
A. The Chase Sapphire Preferred card is a popular travel rewards credit card known for its versatile rewards program, offering points for various travel and dining expenses. Understanding its unique features helps maximize its benefits.
2. How do I earn points with the Chase Sapphire Preferred card?
A. Points can be earned through everyday purchases, with bonus points often awarded for travel and dining expenses. Familiarizing yourself with the rewards structure ensures you make the most of your card.
3. Can I redeem Chase Sapphire Preferred points for cash back?
A. While primarily a travel rewards card, Chase Sapphire Preferred does offer cash-back redemption options. Knowing how to redeem points for cash or other rewards provides flexibility in utilizing your rewards.
4. Is there an annual fee for the Chase Sapphire Preferred card?
A. Yes, the Chase Sapphire Preferred card typically comes with an annual fee. Understanding the fee structure and the benefits offered can help determine if the card is a good fit for your financial goals.
5. Are there foreign transaction fees associated with the Chase Sapphire Preferred card?
A. The card is designed for travel, and it usually has no foreign transaction fees. Confirming this information is essential for those who frequently travel internationally.
6. What travel and purchase protections are offered with the Chase Sapphire Preferred card?
A. The card often comes with travel insurance, rental car insurance, and purchase protection. Knowing the extent of these benefits can be valuable during travel or when making significant purchases.
7. How can I contact customer service for the Chase Sapphire Preferred card?
A. Customer service contact information is typically provided on the back of the card or through the official Chase website. Understanding how to reach customer service ensures prompt assistance for any card-related queries or issues.
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