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Although the Chase Sapphire Preferred Card is an old card, it is still very attractive. The Sapphire Preferred has its best ever welcome bonus and has been updated with new benefits that make it even more rewarding.
This card is worth considering even if you haven't considered it in the past. This post will be a detailed review of the popular travel rewards credit card.
Chase Sapphire Preferred Basics September 2021
Although a lot of people talk about the Chase Sapphire Reserve Card (review), the card was actually built on the basic principles of the Chase Sapphire Preferred. Many people think the Sapphire Reserve has been more popular than the Sapphire Preferred in recent decades. However, I believe that this trend is changing.
The Chase Sapphire Preferred Card is one of my favorite cards. It has a low annual cost, a high return on your spending, great perks, and an enormous welcome bonus. This is significantly better than the one on Sapphire Reserve. Let's look closer at the details.
Earn 100,000 Chase points ($1,250 worth of Travel)
Chase Sapphire Preferred offers the best bonus ever: 100,000 Ultimate Rewards points for spending $4,000 in three months.
Ultimate Rewards points can be used for as little as 1.25 cents per point towards travel purchases. That's 100,000 Ultimate Rewards points worth $1,250 in travel. Chase currently offers a Pay-Yourself-Back feature where you can redeem points for everyday expenses. You could also get the same value.
The bonus has an absolute minimum value at $1,250. However, as I will explain, there are many ways to get more value from the points. This bonus is worth an amazing $1,700 based on my appraisal of Chase Ultimate Rewards points.
We don't know the length of this enormous bonus. Although there is no expiration date, I personally don't think it will be that long.
Use your Ultimate Rewards points to book a flight in Singapore's A350 business class
Chases the 5/24 Rule
Chase uses a rule called the 5/24 rule. This means that you won't usually be approved for a Chase credit card if you have opened five or more cards in the last 24 months. You must be under the Chase Sapphire Preferred limit if you apply for the Chase Sapphire Preferred.
Here's how you can check your 5/24 status.
Card Bonus Eligibility
You can apply for the Sapphire Preferred only if you don't have any Sapphire cards and have not received a bonus cardmember bonus on a Sapphire Card in the last 48 months (this includes Sapphire Reserve). You can have this card or the Sapphire Reserve at any time, but you can't have it now and you can't have a bonus within the above timeframe.
These are the general guidelines for applying for Chase cards and these are the Chase Sapphire Preferred eligibility criteria.
Product Changing
Chase often allows you to change products between cards if you have had the card for less than 12 months. One strategy is to apply for the Sapphire Preferred and use it for 12 consecutive months. Then, you can upgrade to Sapphire Reserve if you wish.
Chase will be able to help you determine the available options for your account. This is a good option, especially considering that the Sapphire Preferred bonus can be much larger than the Sapphire Reserve bonus.
Chase is very good about allowing you to change products between cards
$95 Annual Fee
The Chase Sapphire Preferred charges a $95 annual fee. At no additional cost, you can add authorized users to your card. Any spending they make on the card will count towards the points that you earn.
Earn points with The Chase Sapphire Preferred
The Chase Sapphire Preferred's rewards structure has been completely redesigned, making it an industry-leading card for spending. I recommend that you choose a credit card that offers bonus categories that match your spending habits. I believe the Sapphire Preferreds categories are very useful.
Chase Travel Portal Bookings: 5x Points
The Chase Travel Portal offers the Sapphire Preferred 5x points for travel booked through it. Prepaid travel purchases can be made online or over the phone as long as they are done through Chase Ultimate Rewards. You are eligible to purchase airline tickets, hotel rooms, car rentals, vacation rentals, or cruises. The Luxury Hotel & Resort Collection is a high-quality collection.
I value Ultimate Rewards points at 1.75 cents per piece. This is equivalent to 8.5% return on travel spending. But only through Chase Travel Portal. Although some people will benefit, it is not for everyone. There are also downsides and opportunities costs to booking directly with hotels, airlines, or other hotel providers.
Chase Travel Portal bookings earn 5x points with the Sapphire Preferred
Lyft Rides 5x Points
In 2020, Lyft and Chase formed a partnership. The partnership includes the Sapphire Preferred earning 5x points on Lyft rides. This benefit is currently valid until March 2022. However, I believe it could be extended beyond this date. This is equivalent to a 8.5% return on Lyft spend.
3x Points on Dining
Globally, the Sapphire Preferred gives you 3x points for dining purchases. You can choose from sit-down or eat-in dining. These include fine dining, fast food, and cafes. Takeout and delivery are also eligible. This is equivalent to a 5.1% return for dining.
Get 3x points when you dine with the Sapphire Preferred
3x Points on Online Grocery Orders
The Sapphire Preferred gives you 3x points for online grocery shopping, except Target, Walmart, wholesale clubs, and Walmart. This applies to online grocery orders for pickup or delivery, as well as purchases made at specialty food stores and meal delivery services.
Although not everyone orders groceries online this bonus category is a great one, as Sapphire Preferred previously didn't offer any bonuses for grocery shopping. This is equivalent to a 5.1% return for online grocery store purchases.
Select Streaming Services: 3x Points
The Sapphire Preferred gives you 3x points on selected streaming services. You can stream Disney+, Hulu and ESPN+ as well as Netflix, Sling, Vudu and Fubo TV. This is equivalent to a 5.1% return for streaming services spending.
Get 2x Points on Travel
Global travel purchases are eligible for 2x points with the Sapphire Preferred. You can earn 5x points when you purchase travel through Chase. However, all other purchases are eligible for 2x points. This is equivalent to a 3.4% return on travel expenditure. These are the travel categories:
Airlines, airports, car rentals agencies (including truck trailer and RV), cruise ship, hotels and motels; timeshares, local or commuter transportation (including buses, trains, taxis/limos/ferries, bridges tolls and parking), and travel agencies
Get 2x points when you travel with the Sapphire Preferred
Bonus 10% on Anniversary Points
Sapphire Preferred offers a 10% anniversary points reward. This works like this: Each account anniversary year, you'll receive bonus points equal 10% of your total points spent on purchases made using your credit card during that year.
The 10% bonus on anniversary points is not based on sign-up bonuses, bonus categories or other bonus types. Instead, the 10% bonus applies only to base spending. You would receive 5,000 bonus points if you have $50,000 worth of eligible purchases in an anniversary year.
No Foreign Transaction Fees
The Sapphire Preferred does not charge foreign transaction fees. This card is great for international purchases because you can earn valuable rewards and avoid paying those fees which can reach as high as 3 percent.
Get bonus points for international train tickets when you sign up for the Sapphire Preferred
Chase Sapphire Preferred points can be redeemed
Chase Sapphire Preferred is able to earn Ultimate Rewards Points. I consider this one of the most valuable flexible point currencies.
Ultimate Rewards points can be transferred in a 1:1 ratio to these programs:
Airline Partners Hotel Partner Aer Lingus AerClub IHG Reward Air Canada Aeroplan Marriott Bonvoy Air France–KLM Flying Blue World of Hyatt British Airways Executive Club Emirates Skywards Iberia Plus JetBlue TrueBlue Singapore KrisFlyer Southwest Swift Rewards United MileagePlus Virgin Atlantic FlyingClub Chur Ultimate Rewards Transfer Partners
You can also redeem points for travel via the Ultimate Rewards portal to get 25% more. Points can be used to book flights, hotels, car rental, and other travel at a rate of 1.25 cents each. You will earn miles if you book through Ultimate Rewards portal. These flights will still count towards elite status.
This means that a $1,000 flight costs you 80,000 Ultimate Reward points. However, you might get better value if you transfer points to Ultimate Rewards partners, especially if you are looking for first or business class flights, or luxury hotels.
You could transfer 30,000 points into World of Hyatt to redeem for a night free at the Park Hyatt Maldives.
Use your Ultimate Rewards points to book a stay at Park Hyatt Maldives
You could also transfer 60,000 points directly to Virgin Atlantic Flying Club and redeem them for All Nippon Airways first-class between Japan and the United States.
Use your Ultimate Rewards points to book a flight in ANA First Class
Learn more about Ultimate Rewards points redemption and why I value them in my guide Chase Ultimate Rewards.
Chase Pay Yourself Back
Travel experiences are the best way to redeem Ultimate Reward points. For a limited period, Pay Yourself Back is a way to redeem Ultimate Rewards points for other than travel purchases.
You can redeem Ultimate Rewards points for 1.25 cents per Ultimate Rewards point, which you can use to purchase a statement credit to offset purchases made in the following categories.
Restaurants
Grocery shops
Home improvement stores
This means that you can use your points to purchase everyday necessities as well as travel.
Chase Sapphire Preferred Benefits
Chase Sapphire Preferred has many benefits that make it even more valuable. These include car rental coverage and benefits that can earn more points. You also have other benefits like purchase protection and travel insurance. Let's look at the benefits.
$50 Anniversary Hotel Credit
Sapphire Preferred provides a $50 Ultimate Rewards annual hotel credit. This works like this: You receive a $50 Ultimate Rewards statement credit for any hotel purchase up to $50. You don't need to spend a minimum amount, so you could book a $50 room in a hotel and receive a $50 credit.
This benefit is dependent on the anniversary year of your account. New cardmembers will receive it immediately, and existing cardmembers will start to get it beginning with their next anniversary year.
Get $50 per year in hotel credit when you sign up for the Sapphire Preferred
Visa Signature Benefits
You can get the Chase Sapphire Preferred as a Visa Signature. This gives you access many other perks, such as the Visa Signature Luxury Hotel Collection.
Travel and Purchase Insurance
The Chase Sapphire Preferred provides valuable purchase and travel protection.
Visa Signature Benefits Benefits Details Baggage Delayed Benefit You may be eligible for a reimbursement up to $500 if a common carrier ticket costs are charged to your card. Award tickets will not be eligible if taxes are added to the card.
For emergency purchases of essential items at another destination, you can get a maximum $100 reimbursement per day. Lost Luggage Reimbursement Get reimbursed for damaged or lost checked bags or personal property
Maximum reimbursement is $3,000 Trip Cancellation/Interruption Insurance Receive the non-refundable amount of the passenger fare or $5,000 (whichever is less) in the event of a trip cancellation or interruption
Trip Delay Reimbursement must be made if the cancellation or interruption is due to death, injury, disease, or other serious cause.
If your trip is delayed by more than 12 hours, you can get up to $300
A trip must be delayed due to equipment failure, inclement conditions, labor strikes, or hijacking Warranty Manager Service
Extended warranty of free repairs by the original manufacturer for up to an additional year
Motorized vehicles (boats, cars, aircraft, etc.) These are not included
Insurance for primary car rental
Chase Sapphire Preferred provides primary collision damage waiver coverage for damage up to the cost most rental cars, provided that you decline the CDW coverage offered at the rental agency.
These include vans with less than seven passengers, SUVs, and luxury-class vehicles. For more information, you can refer to your cardmember agreement.
Cardholders have the option to get collision damage waiver coverage for car rentals.
Shop through Chase
The Sapphire Preferred card gives you access to Shop Through Chase. This is the online shopping portal that the cards offer and can help you increase your points. Clicking through the portal will earn you extra points per $1 for purchases at dozens online retailers.
Each year, I earn several thousand points more by clicking through Shop Through Chase first.
DoorDash DashPass membership available as a complimentary service
The Sapphire Preferred provides a DoorDash DashPass Membership, which is valid for at most 12 months.
DoorDash DashPass allows you to order from thousands of restaurants across the country for $0 delivery fees. You will receive a $0 delivery charge and a reduced service fee if you place an order of at least $12 from a eligible restaurant.
DoorDash is now more affordable with the new Sapphire Preferred benefit
60 Peloton Credit
Chase Sapphire Preferred offers a $60 Peloton credit up to December 31, 2021. You can activate this benefit by clicking the link.
Chase Offers
Chase Offers is one of the best features of Chase cards. This allows you to save money on purchases at all types of retailers. This program has helped me save a lot of money as I have seen deals with retailers that I would normally shop with.
Contactless Pay
Contactless payment technology is available on the Chase Sapphire Preferred. You can use your card to pay without ever having to swipe it.
Amazing Customer Service
Although I do most of my work online, Chase customer service is great when I need to call them. Chase does not have the annoying phone prompts other issues have. I am almost always connected to an agent fast.
Metal Card
Although I'm not sure if this is a selling point nowadays, the Sapphire Preferred was the first mainstream credit card to be made of metal. This is something that many people love.
Is the Sapphire Preferred worth it?
This is a simple question that I will answer: If you don't have the Chase Sapphire Preferred, but are eligible, then the card is definitely worth it. This card is a great hub card for Chase Ultimate Reward. The welcome bonus is enormous, the bonus categories are amazing, and the perks are incredible.
Let's take a closer look at the other factors you should consider. These include a comparison with the Sapphire Reserve and cards that can be used in its place, as well as cards to complement it.
Comparison: Sapphire Reserve Vs. Sapphire Preferred
The Sapphire Reserve is a more expensive version of the Sapphire Preferred. Which card is better? Let's see how they compare across several categories.
Sapphire Preferred offers 100,000 points and Sapphire Reserve offers 60,000 points as a welcome bonus
Sapphire Reserve offers 60,000 points and Sapphire Preferred offers 100,000 Points. Annual Fee: Sapphire Reserve charges $550 annually, while Sapphire Preferred charges $95 annually.
Sapphire Reserve charges a $550 per year and Sapphire Preferred charges $95 per annum. Points earned : Sapphire Preferred gives you 3x points for dining, online grocery shopping, select streaming services, and 2x points for travel. Sapphire Reserve, on the other hand, offers 3x points for dining and 3x points to travel.
Sapphire Preferred gives you 3x points for dining, online grocery shopping, and selected streaming services. Sapphire Reserve offers 3x points for dining and travel. Other perks: While there are some similarities between the cards, Sapphire Reserve offers a $300 annual travel credit, Priority Pass membership, a TSA pre-check or Global Entry fee credit every 4 years, 1.5 cents per point redemption, Visa Infinite benefits, a $60 annual DoorDash statement credits in 2021, and Lyft Pink membership for 12 month.
If you are looking for lounge access, the Sapphire Reserve may be worth your investment long-term. The Sapphire Preferred has undergone some changes that make it more appealing. It offers a better welcome bonus, better spending categories, and $50 hotel credit. All this with a lower annual cost.
The Sapphire Preferred is my personal recommendation, despite the lower bonus. You can always change your mind after a year and get the Sapphire Reserve card.
The Sapphire Reserve might be a better choice if you are looking for Priority Pass membership.
Complements: Freedom Flex and Freedom Unlimited
The Sapphire Preferred is worth the Chase Freedom FlexSM and Chase Freedom Unlimited (review). These cards don't have annual fees, can greatly increase your points earning, as well as being able to be combined with Ultimate Rewards points.
The cards give you 3x points at drugstores. You can also use those points to earn Ultimate Rewards points for other categories.
Freedom Flex gives you 5x points on rotating quarterly categories and up to $1,500 per quarter in spending
Freedom Unlimited gives 1.5x points for all purchases
Both cards offer better drugstore rewards than the Sapphire Preferred directly, and then the Freedom Unlimited gives more points for everyday spending while the Freedom Flex has more points in rotating categories.
Alternatives to the Sapphire Preferred
The Chase Sapphire Preferred now has some cards in its competitors set. Let's take a look at their differences and help you decide which card is right for you.
Citi Premier Card
I would argue that the Citi Premier Card (review), is the closest competitor to the Sapphire Preferred. It also offers the best-ever bonus. Citi Premier Card offers 3x points for dining, gas, groceries and air travel. This card is the best mid-range card, purely because of the bonus categories.
Below is a comparison between the Citi Premier and Chase Sapphire Preferred.
Amex Gold Card
Review of the American Express Gold Card: 4x points at restaurants, 4x for purchases at U.S. grocery stores (up to $25,000 per year) and 3x points on flights purchased directly from airlines. These are some amazing bonus categories.
Amex Gold charges a $250 annual fee (Rates and Fees). However, the Amex Gold also offers a $120 annual dining credit and Uber Cash benefits. This should offset the annual fee.
Amex Green Card
Review of the American Express Green Card: 3x points for dining, travel and transit.
There is a $150 annual fee (Rates and Fees) and a $100 CLEAR credit and $100 LoungeBuddy credit. This card is not as popular as the Sapphire Preferred because it does not offer car rental or travel coverage.
Chase Sapphire Preferred Summary
Chase Sapphire Preferred is a credit card that has been around for over ten years. It continues to be one the best-rounded cards for both beginners and travelers looking for travel rewards. This card is a great choice for anyone who doesn't have it yet. The massive bonus of 100K points, worth a minimum $1,250 travel, is one of the most impressive we've seen.
The latest update to the Sapphire Preferred makes the card even more competitive and offers a wide range of benefits. This card has a lot of great features, including the 2-5x points categories, the 10% anniversary bonus points, and the $50 annual credit for hotels.
This card is highly recommended, due to Chase's approval criteria for new cardmembers. Even if you don't normally use cards with annual fees, having at least one premium card can be beneficial for benefits such as no foreign transaction fees and car rental coverage.
Apply Now to the Chase Sapphire Preferred card with 100,000 bonus points
These links will take you to the fees and rates for American Express Cards. These are: American Express Gold Card (Rates and Fees), American Express Green Card(Rates and Fees).
